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November07, 2005 - Should you do what you love? Plus, it's raffle time! >> |
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******* News ******* 1. New York Post Price war hits celeb mags By Keith J. Kelly 11/04/05 http://www.nypost.com/business/53952.htm The celebrity magazine business remains cutthroat, with several sources claiming the entire category has been in a funk since at least late summer. Consumers seem to be benefiting, however, because as fewer mags are leaving the racks, publishers are getting innovative and cutting prices. The hope, of course, is that once a mag is sampled at the low price, that readers will return. Celebrity Living, one of the new entries in the mix, cut its price to 25 cents three weeks ago. Bonnie Fuller, editorial director of parent company American Media, said it was a resounding success. "We sold about 500,000 copies, which was a 50 percent sell-through," she said. She said Celebrity Living has been traditionally selling about 190,000 copies a week. MORE ONLINE
2. WWD
Is Shawn "Jay-Z" Carter looking to follow former partner Damon Dash into the magazine business? According to buzz making the rounds Thursday, Carter is said to be considering making a joint bid for hip-hop title The Source, which faces legal action from its landlord and major creditor for failure to pay rent and loans. Carter likely would team up in the bid with two top music executives, Warner Music Group's Lyor Cohen and Interscope's Steve Stoute, said two former employees of the magazine and a source at Def Jam records. MORE ONLINE
3. WWD
There were plenty of inspiring stories at Glamour's 2005 "Women of the Year" awards on Wednesday. "Bravest Woman in the World" went to Mukhtar Mai, the Pakistani woman who is starting schools in her homeland after she was sentenced to gang rape because of her brother's alleged affair with someone of a higher caste. Then there was Diane Sawyer's heartfelt introduction of tsunami "Survivor" Petra Nemcova. (Glamour, like WWD, is owned by Cond?© Nast Publications.) Accepting the award for "News Source," CNN's Christiane Amanpour talked about growing up in Iran without women's rights, and without a free press. "I believe that the last four years have been incredibly difficult for press in this country [the U.S.]," she said. "But I believe the tables are turning." MORE ONLINE
4. New York Post
US Weekly may be sitting pretty in the celebrity magazine world, but Wenner Media boss Jann Wenner obviously thinks too much of a good thing can be a bad thing. Plans to launch a second low-priced celebrity magazine from the publisher have been scuttled. The project had been under development for months by Janice Min, the Us Weekly editor, and Mike Steele, the Us Weekly executive editor. Min, who recently inked a new two-year contract at $1.2 million per annum, had at least part of the new compensation package based on plans that she would oversee a second title. "It's not going to happen," said a source with knowledge of the situation. MORE ONLINE
5. Smart Money
NEW YORK (Dow Jones) -- Time Warner on Wednesday said it received a grand-jury subpoena from the U.S. Attorney's Office in connection with an investigation of magazine circulation-related practices. "Time Inc. is responding to the subpoena and intends to cooperate with the investigation," a filing with regulators said. "Time Inc. has also informed its advertisers that it is reviewing and discussing with the Audit Bureau of Circulations its reporting of sponsored sales subscriptions," the filing said. Shares of Time Warner (TWX) closed at $17.57 on Tuesday. Disclosure of the subpoena comes as Time Warner reported a higher third-quarter profit and boosted the authorization covering its stock-buyback plan to $12.5 billion from $5 billion. p> *******ED AD ******* Non-smoking female roommate wanted to share spacious 2-bedroom apt in W. 140s with young corporate communications professional. Four blocks to number 1 subway. Rent: $870 plus half utilities (electric, phone and cable). No pets please. References requested. Available December 1. Please call Natasha at 212-862-3933.
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