Daily News No Longer for Sale
Daily News owner Mort Zuckerman has called off the sale of the nearly 100-year-old New York newspaper. “For a variety of reasons, I have decided to withdraw the Daily News from the market,” Zuckerman writes in a memo to staffers obtained by FishbowlNY.
Zuckerman, who has owned the paper since 1993, began looking at selling the tabloid in February. The Daily News, founded in 1919, is the 5th largest daily newspaper in the U.S. with its combined print and digital footprint.
Guild members approve new contract with St. Louis daily
The St. Louis Post-Dispatch unit of the United Media Guild approved a three-year contract extension by a 71-23 vote. The extension takes effect immediately and runs through Sept. 30, 2018, the Guild said.
The contract includes increases to the pay scale by 2 percent on Dec. 27, 2015, 2 percent on Dec. 26, 2016 and 2 percent on Dec. 25, 2017. On Dec. 27, 2015 commission only sales reps will be come base plus commission and receive $625 per week in base pay and base plus commission sales reps will get a pay increase to $721 per week.
Severance for involuntary lay-offs will remain the same as in the current contract. Severance pay for involuntary lay-offs will remain the same as in the current contract but the maximum severance for voluntary layoffs will be capped at 39 weeks starting Sept. 28, 2015 and will drop to 26 weeks on Sept. 26, 2016. Medical premiums will increase from 25 to 30 percent by the end of this year, but the total medical premium will be frozen for the next two years.
Standard Finishing to Unveil New Hunkeler and Horizon Equipment at GRAPH EXPO
Standard will produce a comprehensive range of finished products, highlighting the short-run capabilities of individual systems as well as complete end-to-end workflows. Book blocks coming off one system will be perfect bound and trimmed near-line to produce finished books. In another demonstration, pre-printed rolls will be turned into saddlestitched booklets with variable perforations throughout in one single pass. Samples will be creased on one machine and folded near-line on another to create calendars, greeting cards and a variety of other folded output. B2 printed sheets will be processed into 28 full-bleed cut sheets with intelligent accumulation and stacking to create book blocks, which will then be transferred for near-line perfect binding and trimming. “Over 30 original applications have been developed to showcase the interoperability of the equipment,” says David Reny, executive vice president, Standard Finishing Systems. “Our goal is to show real-world production efficiency and demonstrate the flexibility of Standard Horizon and Standard Hunkeler solutions. Whether you’re looking for a single finishing system or a complete end-to-end workflow, attendees can experience the full gamut in one booth.”
Colourfast Financial targets revenue growth following Konica investment
This investment forms part of a three-year growth strategy that will see the business increase commercial market revenues to £1m. The new equipment will deliver additional capacity and improve productivity for the company, which has almost all of its existing presses running at full capacity. “With the new colour press, which delivers outstanding 1,200dpi, we’re looking to really push into the commercial market. It’s a slower process breaking into this new sector, but we’re proactively marketing our business and doors are beginning to open,” said Colourfast Financial managing director Darren Bacon.
“We’ve now got capacity to cope with additional workload, to accommodate unexpected workload peaks and the new presses also provide us with a business continuity back-up plan in the event of unforeseen downtime.”
The business, which was established six years ago, specialises in producing documentation for the financial sector from Initial Public Offerings (IPOs) to fast-turnaround business compliance documents that are distributed to global financial markets.
“Typically we have 24-36 hours to turnaround an individual project, time is very much of the essence, as much of what we produce has to be flown out to the US, the Far East and across Europe. So the quicker we can get copies off the press and shipped, the better,” said Bacon.
“Say we’re running off 500 copies of a 300-page document, with litho we’re looking at a minimum of 24 hours, but by utilising the digital press we can complete it in under 10. The other big advantage of digital is that we’re producing from the first hour, binding as we go along.” The company also does all finishing in-house. Its bindery includes guillotines, perfect binders, folders, laminators, wire binders, trimmers and case-binding equipment.
“We used to outsource finishing but we weren’t in control. Managing the entire production process from start to finish makes us much faster, and means that when we agree a delivery time, we meet it, as we’re not reliant on a third party,” said Bacon. Colourfast Financial has 18 staff and a turnover of £2.2m. £1.8m of these sales come from the City, while the remainder comes from the commercial sector.
Bloomberg to lay off 100 editorial staff
Many of the layoffs are expected to target politics and government reporters out of the New York and Washington, DC, bureaus, two sources told The Post. Mike Bloomberg is looking to cut the fat, one insider told The Post, adding that the spigot in new hires has been turned off. The shrinkage is coming at a fraught time for the company. In June, a reporter described a “climate of fear” in a leaked memo, and the company fired Josh Topolsky, its digital editor, the following month