Tag Archives: Fortune
Dan Primack of Fortune.com writes about how a public relations person should negotiate with a business journalist when offering the reporter an exclusive.
Primack writes, “Paul Gillis argues that giving an exclusive can create enemies for your company, in the form of reporters who didn’t get the exclusive. In some cases, he may be right. So be sure to limit the fallout, among other publications with which you’d like to maintain relationships (Note: If your news is big enough, other outlets will feel compelled to write their own stories — lest their readers think they missed it).
“Once the original piece runs, reach out to other reporters by offering certain details that weren’t in the original story. Not violating your exclusive, per se, but perhaps there were some interesting data point that didn’t make the initial cut. Or perhaps access to someone (executive, customer) who wasn’t interviewed for the original story.
“If you get a particularly belligerent rival, consider lying. For example: ‘That reporter already had the story, so we had to give him the exclusive.’ Perhaps not my best advice — or at least not my most moral — but you probably won’t get called on it. Even if the rival speaks with the original reporter, it’s unlikely the conversation will include: ‘No, you’ve got it all wrong. I didn’t scoop it, they spoon-fed it to me.’”
Read more here for his other suggestions.
Wicks writes, “Fortune, which has Oprah Winfrey on its cover, scores the advantage with its exclusive interview and photo session with the queen of daytime TV. Winfrey spoke to editor at large Patricia Sellers about her new cable network, OWN. Meanwhile, Forbes has Arianna Huffington on the cover of its ’100 most powerful women’ issue.
“The competing lists are duplicative in some instances except at the top, where Forbes lists First Lady Michelle Obama as number one while Fortune has no mention of the First Lady (Fortune only ranks business women while Forbes’ list is more wide ranging, with people such as Lady Gaga — presumably because it helps those Web page views).
“Forbes also is a bit more breathless about the women on its list, proclaiming of Obama in a style right out of a prizefight announcer, ‘A fashion icon and an athletic mother of two, she’s Jacqueline Kennedy with a law degree from Harvard and street sense from Chicago’s South Side.’”
Read more here.
TALKING BIZ NEWS EXCLUSIVE
The 14 business magazines that report advertising data to the Publishers Information Bureau outperformed the rest of the magazine industry, according to data released Monday that was analyzed by Talking Biz News.
The magazines reported a 7.9 percent increase in advertising revenue and a 5.4 percent rise in advertising pages. That compares to a 5.3 percent increase in ad revenue and a 3.6 percent increase in ad pages for the overall magazine industry.
Only Bloomberg Businessweek and Fortune reported declines in advertising revenue and ad pages for the quarter. The biggest gains were recorded by Black Enterprise, which saw a 39.9 percent jump in ad revenue to $8.25 million and a 45 percent increase in ad pages to 179.77 for the quarter, and Wired, which recorded a 45.8 percent increase in ad revenue to $20.9 million and a 32.8 percent increase in ad pages to 211.06.
Fortune retained its position as the business magazine with the most ad revenue — it had $50.8 million for the quarter. But The Economist sold the most ad pages, passing Fortune during the quarter. It sold 405.48 pages, compared to 398.44 pages for Fortune.
Forbes reported the strongest gains among the big players in the sector. It had a 6.9 percent increase in ad revenue to $42.4 million and a 0.7 percent increase in ad pages to 305.78.
By comparison, Bloomberg Businessweek reported a 5.2 percent drop in ad revenue to $33 million and a 9.3 percent drop in ad pages to 244.64. Fortune reported a 2.3 percent drop in ad revenue and an 8.5 percent decline in ad pages.
Among the personal finance magazines, Money reported the biggest increase in ad revenue — up 7.6 percent to $30.2 million — while Kiplinger’s Personal Finance had the biggest gain in ad pages — up 2.5 percent to 64.31.
Barron’s recorded strong gains as well. Its ad revenue rose 22.5 percent to $10.8 million, and its ad pages rose 16.2 percent to 229.34.
See all of the data here.
The National Association of Corporate Directors named on Monday its 100 most influential people in terms of issues related to corporate governance and included 11 business journalists on its list.
Those listed were:
- Charles Gasparino of Fox Business Network;
- Andrew Ross Sorkin, Eric Dash, Gretchen C. Morgenson, Louise Story and Joe Nocera of The New York Times;
- Alan Murray and Joann S. Lublin of The Wall Street Journal;
- Norman Pearlstine and Josh Tyrangiel of Bloomberg Businessweek; and
- Becky Quick of CNBC, who also writes a regular column for Fortune.
See all of those named here.
Yvette Kantrow, the executive editor of The Deal, writes Thursday about what it’s like to pick up a copy of Fortune magazine from 1955 and see how business journalism can still be excellent in telling a good story — and still, unfortunately, bury a lead.
Kantrow writes, “But nestled among the cheeky clairvoyance is a story devoted to a subject near and dear to our hearts: dealmaking. In a piece headlined ‘The Chain Reaction in Hotels,’ Fortune reporter Robert Sheehan explored what was behind ‘all the action in the hotel market,’ which had seen $250 million in deals in the previous two years and had just witnessed ‘the largest real-estate transaction in history,’ the $111 million sale of the Statler chain to Hilton. It’s a rambling, leisurely read — what we would now refer to as long-form journalism — filled with the kind of detail that today’s financial media often pays lip service to but rarely delivers.
“Sheehan starts out by warning his reader that hotel dealmaking is not something the ‘average businessman, and the average investor’ can easily understand. ‘For the economics of the hotel industry are peculiar and the layman can never be quite sure what the professionals are up to in any given hotel transaction.’ But Sheehan is undeterred. In a tone suggestive of two intelligent friends chatting over a glass of wine, the story goes through all the reasons why ‘Connie Hilton’s’ deal for Statler — he paid $50 a share in cash for a company that was trading at $28 when the bidding began — ‘was anything but a steal.’ As Sheehan put it, ‘[I]n the factors most vital to growth and earnings — occupancy ratio and return on investment — the hotel business would seem to be getting worse instead of better.’
“Soon, we’re deep into a surprisingly engrossing discussion of occupancy rates, business versus casual travelers and hotel chains versus independents. But we’re still left wondering why Hilton agreed to pay so much for Statler. Finally, Sheehan discloses ‘the real nub of the situation’: hotel chains’ ‘new standing with the moneylenders’ and, more importantly, their ‘ability to size up and exploit advantageous tax situations.’”
Joe Pompeo of The Business Insider writes Tuesday about Fortune.com, which has been rebuilt under managing editor Dan Roth.
Pompeo writes, “Asked how he thinks the ‘reinvented’ Fortune.com will stack up to Forbes.com, Roth replied: ‘At this point, I’m focusing on building up Fortune.com and making sure it complements the work being done at CNNMoney.’
“He also told us the plan is to redesign and relaunch Fortune.com by the end of the year and continue to build it out as its own brand. But how much of a distinct brand can it be if it doesn’t even have a URL or identity apart from CNN Money?
“‘Once we do a redesign to make it clearer that you’re on Fortune.com as part of CNN Money, it will make the brands work more intelligently together,’ CNN Money as a place mostly for news, and Fortune.com as a place for ‘views and some news,’ Roth said, adding of whether he would push Time Inc. to give Fortune.com a permanent URL: ‘I don’t feel that strongly about it anymore. I’m not fighting that battle.’
“Serwer, meanwhile, said Fortune.com ‘is really coming into its own under Dan’s leadership. The site has all kinds of room to grow and we aim to fulfill its potential.’”
TALKING BIZ NEWS EXCLUSIVE
Primack is the creator and writer of the peHUB Wire, a daily e-mail publication from Reuters read by more than 58,000 subscribers. His personality really drives it, and he’s also a major draw for the Buyouts conference business. He’ll be performing the same task at Fortune, which is planning to launch a daily e-mail from Primack called “The Term Sheet,” according to Fortune.com managing editor Daniel Roth.
“What Dan brings to Fortune is obvious, which is great sources and great stories,” said Roth in a phone interview with Talking Biz News. “And what Fortune brings to Dan is a big audience and people who care about what he covers.”
Primack’s daily column has become mandatory private market reading, and he has given keynote addresses at events hosted by organizations that include Merrill Lynch, PricewaterhouseCoopers and the National Venture Capital Association. He also appears regularly on CNBC, and has been quoted in such publications as BusinessWeek and TheStreet.com.
Roth said that Primack’s hiring coincides with the launch of a new section on Fortune.com called “Fortune Finance,” which will start on Sept. 7 and include news about Wall Street, private equity, mergers and acquisitions and economics. Also writing for the new section will be Duff McDonald, who wrote a biography of J.P. Morgan CEO Jamie Dimon, and Fortune writer Colin Barr. CNBC anchor Becky Quick‘s column for Fortune will also appear on “Fortune Finance.”
Prior to hitting the private equity beat in 2000, Primack covered private debt for Private Placement Letter and served as editor and co-founder of The ‘Bury, a Roxbury, Mass.-based newspaper catering to teenagers and young adults. Primack is a graduate of Haverford College, with a degree in political science.
“Dan Primack is a guy that I have basically wanted to hire since I was at Portfolio,” said Roth. “I think his newsletter is just fantastic, and I am constantly getting it forwarded to me. He is a guy who really cares about the industry he covers.”
Steve Smith of minonline writes abou the launch of Fortune‘s iPad edition.
Smith writes, “Fortune clearly is aiming to convince readers of the added value of the iPad version. This week’s cover story ‘Is Google Over?’ boasts an animation in which the Google logo melts into a multi-colored puddle. Many of the sections have embedded slideshows with many more images than the print version, or video of the editors talking through their pieces. An interactive ‘Company Index’ lets the user tap a firm mentioned in the issue to get dynamic data on their current stock price from CNN Money. One of several iPad exclusive pieces includes a gallery of technology themed covers of the magazine going back to 1930. Several ads for sponsors like IBM and Chase include embedded videos and slideshows that give the ad clients a wider range of narrative tools for their ad units.
“Rather than dazzle us with multimedia pyrotechnics and novel navigational schemes, Fortune appears to be focusing on an enhanced but familiar magazine experience. iPad developers tell us they have been surprised by the appetite users show for images in these digitized magazines. Several publishers also tell us that focus groups they tested are gravitating towards the enhanced advertising in these issue.
“Fortune launches its iPad program just as its parent company engages in a dispute with Apple over how to charge for magazines in the App Store.”
Read more here.
TALKING BIZ NEWS EXCLUSIVE
The 14 business magazines published in the United States outperformed the overall magazine industry in the second quarter in terms of advertising revenue and ad pages.
The financial and business magazines reported ad revenue of $328.1 million in the second three months of the year, up 11.3 percent from the same quarter in 2009. In comparison, the overall industry was up 5.7 percent.
In terms of ad pages, the business titles reported an 8.3 percent to 3359.42 pages, while the overall industry was up 0.3 percent, according to data published Monday from the Publishers Information Bureau and analyzed by Talking Biz News.
The comparison data excludes Fortune SmallBusiness and Conde Nast Portfolio, both of which were published in the second quarter of 2009.
The best performer among the business titles was Time Inc. personal finance glossy Money, which reported a 37.5 percent rise in ad revenue to $34.2 million and a 32.3 percent jump in ad pages to 164.77.
Another strong performer was Wired. The Conde Nast tech-related magazine reported ad revenue of $19.6 million, up 37.7 percent, and ad pages of 200.13, up 26.2 percent, for the quarter.
Among the large business titles, Bloomberg Businessweek performed the best, with an 11.2 percent increase in ad revenue for the quarter, to $48.8 million, and a 10 percent increase in ad pages to 365.01.
A number of business journalists who cover the media business are changing jobs.
Devin Leonard, who has been writing for the New York Times recently, has been hired by Bloomberg Businessweek alongside Felix Gillette, who recently joined the magazine from the New York Observer. Leonard had also covered the music industry for Fortune. He started with the magazine on Monday and will be covering a variety of topics.
Leonard is a musician-turned-journalist who started his career covering jazz for obscure weeklies in Philadelphia in the ’80s. He has also worked for Wired and New York magazines.
In addition, The Wrap announced Monday that it hired longtime Newsweek media reporter Johnnie L. Roberts. He will start Aug. 1.
Roberts will be editor at large at The Wrap and will cover a broad range of entertainment news in the world of media, television and new media, weighing in with news stories, analysis and commentary, according to a release on the media site.
Having covered some of the biggest entertainment and media news stories over the past 20 years, Roberts was the recipient of the John Hancock Journalism award in 1990, was named one of the “100 Most Influential Business Journalists” by The Journalist and Financial Reporter newsletter in 1997, and received recognition from the Society of American Business Editors and Writers for his detailed account of the disastrous AOL-Time Warner merger.
Prior to joining The Daily Beast, Masters served as a contributing editor at Vanity Fair, covered politics for the Washington Post’s “Style” section and served as a contributing editor at Time. Her work has also appeared in The Los Angeles Times and The New York Times.
Also, earlier this year Tom Lowry was hired by Variety. He had been with BusinessWeek.