9/16/2023 0 Comments L.b.press telegram"Brad wants to move up and have more of a say in how companies are managed," said Johnson. and has sat on a number of boards for Angelo Gordon in the past, said Pattelli was interested in business-building in the media industry, not just trading in and out of distressed companies. But John Johnson Jr., who runs a company called Foamex International Inc. Neither Pattelli nor the firm would comment for this story. That tension may have led to a parting of the ways between the firm and Brad Pattelli, who gained attention this year as the architect of Angelo Gordon's extensive newspaper investments. Their compensation and fee structure is generally based on raising a fund, investing it to generate 20 to 30 percent annual returns and then monetizing those returns over a period of a few years. The natural tension for funds like Angelo Gordon, however, is that they don't have unlimited time to wait for their investments to bear fruit. Michael Oneal of the Chicago Tribune suggests that this isn't a takeover of the industry, but it will have an impact - the scope of which remains to be determined. Bravo!Īs the newspaper industry reels from bankruptcies among some of its most powerful players, a new class of investors have quietly stepped in, seeking to capitalize on rock-bottom stock prices. You, and the rest of your newsrooms, deserve it all. We'll update the post if we can track the pictures down.Īgain, congratulations to all our winners on a job well done. We tried to find the photos to showcase them here, but it's been difficult to locate them. Sports photography was also capped by the DN's John McCoy, followed by Stephen Carr in second place and Hans Gutknecht with an honorable mention. Brittany Murray received honorable mention. Honorable mention went to Stephen Carr.įeatures photography honors went to John McCoy, and second place went to Mike Baker. For news photography, Jeff Gritchen took first place, followed by David Crane. In photography, our members again grabbed the spotlight. In sports, the Daily News' Jon Gold was recognized for his coverage of Skid Row's Midnight Mission basketball team. Tracy Manzer and Kelly Puente shared top honors in the Hard News category, followed by Press-Telegram reporter Greg Mellen in second place. The 2010 Los Angeles Press Club SoCal Journalism Awards included members of both our Daily News and Press-Telegram units, and we'd like to congratulate not only the winners, but everyone in each newsroom for producing the quality journalism that's so vital to local communities. But is Yahoo's acquisition of Associated Content really equal to professional journalism? Is an article written by "anyone" (so says AC's About Us page) which cost the company $5 and was written to capitalize on the latest Google Trend, really a substitute for in-depth coverage of current events? So what's the solution? Paywalls? As the source of online content shrinks with every reporter laid off or masthead shuttered, online purveyors like Yahoo! and AOL have attempted to fill the void with in-house content. Cole, the Annenberg School’s director of the Center for the Digital Future. “Such an extreme finding that produced a zero response underscores the difficulty of getting Internet users to pay for anything that they already receive for free,” says Jeffrey I. And doubly vexing, most were unhappy with online advertising too. According to USC's Digital Future study, exactly zero percent of respondents showed any willingness to pay for online content. Even as the overall audience grows, the value of each individual reader is falling.Ĭompounding the problem is that few readers seem to value online content. Lyons reports that Michael Wolff, founder of, has had his online advertising fall by 20% in terms of CPM value. That's despite having five times the audience of The Washington Post.Īs a comparison, the Washington Post recorded over $45 million in profit for Q1 of 2009. But as media properties grow their online audience, advertising revenues have seen their margins slashed.ĭaniel Lyons at Newsweek points out that The Huffington Post, top dog of online media, will earn approximately $30 million in revenue this year. Online advertising is more popular than ever, and represents an ever-increasing slice of the media revenue pie.
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