For the Record

Hong Kong's Lam Discusses 'Fake News' Legislation Amid Press Freedom Fears:

Hong Kong Chief Executive Carrie Lam announced Tuesday that the special administrative region's government is "working on 'fake news' legislation to tackle 'misinformation, hatred and lies,' as worries grow over media freedoms in the global financial hub," according to a Reuters staff report. The announcement follows the imposition of an unprecedented national security law at the behest of Beijing in 2020 and the "major overhaul of public broadcaster RTHK, led by a newly appointed bureaucrat with no media experience," which has been "widely seen as a signal that government red lines will soon encircle journalism as they have other sectors, such as education." Lam added that she had no timetable for the potential legislation. "The fake news law needs a lot of research, especially [on] how overseas governments are tackling this increasingly worrying trend of spreading inaccurate information, misinformation, hatred and lies on the social media," she said. "We will continue to be very serious about this issue because of the damage it is doing to many people."

Colorado Sun Acquires Suburban Denver Newspaper Chain:

The Colorado Sun has "acquired and [will] operate a family-owned chain of 24 suburban newspapers around Denver in partnership with a new foundation focused on local journalism," David Folkenflik of NPR reported Monday. "These are the folks who are covering school boards, city councils, county commissions that no one else is covering," said Larry Ryckman, editor-in-chief of the digital newsroom. "They provide unique local coverage. And we're doing this so that we can preserve those voices." The acquisition of the Colorado Community Media newspaper group, which will now operate as the Colorado News Conservancy, was spearheaded by the National Trust for Local News, an incipient Colorado-based nonprofit that approached The Sun about a month ago. "This is a new experiment with a different kind of financing and a different kind of ownership," said Elizabeth Hansen Shapiro, the organization's chief executive. The Colorado Sun was founded in September 2018 by former staff members of The Denver Post in reaction to the newspaper's acquisition by hedge fund-backed Alden Global Capital.

Pulitzer Prize Board Member Merida Named L.A. Times Executive Editor:

Pulitzer Prize Board member Kevin Merida has been named the next executive editor of the Los Angeles Times, the newspaper announced Monday. Merida, who has served as executive editor of ESPN's The Undefeated since 2015, also spent three decades working in print newsrooms, culminating in his appointment as a managing editor at The Washington Post in 2013. "I'm thrilled to be joining the Los Angeles Times," he said in an interview with Staff Writer Meg James. "I'm going to do everything I can to make this the greatest media outlet for the people of California, of L.A. — and beyond. I see nothing but opportunity. I think this can be the most innovative media company in the country." Added owner Patrick Soon-Shiong, who returned the newspaper to local control in 2018: "His mandate will be to maintain the highest level of journalistic strength and find ways to grab the attention of our community […] not just Los Angelenos but also readers in the western region and hopefully even the nation. And most importantly, his job is to move us into the digital arena. We want this paper to grow and be around for another 139 years." Merida was born in Wichita, Kan. and grew up in the Washington metropolitan area, where his parents were on staff at the National Museum of Natural History and the National Science Foundation. He received his undergraduate degree in journalism from Boston University in 1979.

Twitter Launches Local News Campaign:

Twitter "will launch a major advertising and social media campaign" Monday "urging people to follow local journalists and support their work," according to Sara Fischer of Axios. The campaign launch, which coincides with the May 3 celebration of World Press Freedom Day, will encompass "28 full-page, color ads in local newspapers across the Gannett/USA Today and McClatchy network, including the Detroit Free Press, Columbus Dispatch, Oklahoma City Oklahoman, Indianapolis Star, Miami Herald, Kansas City Star and Cincinnati Enquirer." The ads will "will direct readers to Twitter Lists of local journalists created by each newspaper and Twitter," while the platform also will "encourage prominent national reporters, journalism advocacy organizations and everyday news consumers to tweet the hashtag #FollowLocalJournalists" alongside examples of local journalism. "Local journalists [are] so incredibly important to the conversation on Twitter," said Niketa Patel, head of print and digital news partnerships at Twitter. "We're viewing this as a way of ensuring that Twitter is giving local journalists a national spotlight."

Apollo Buys Yahoo, AOL From Verizon:

Private equity firm Apollo Global Management has "agreed to pay about $5 billion to acquire Yahoo and AOL from Verizon Communications" as the wireless company exits the media business, Micah Maidenberg and Drew FitzGerald of The Wall Street Journal reported Monday. The firm "is paying $4.25 billion in cash for a majority stake in the media assets and providing Verizon with interests in the businesses totaling $750 million," while Verizon will maintain a 10% stake in a new company formed under the Yahoo moniker to operate the business. Although other bidders "previously showed interest in buying off certain pieces of the media unit, which includes websites such as TechCrunch and Yahoo Finance," Apollo was the only company that made an offer for the whole portfolio, Maidenberg and FitzGerald added.

COVID and Newspaper Subscriptions:

Digital newspaper subscriptions grew by as much as 64% between 2019 and the third quarter of 2020 amid the COVID-19 pandemic, according to a new report by Iris Chyi, an associate professor of journalism and media at the University of Texas at Austin. However, the price of print subscriptions "has reached an all-time high—seven-day home delivery now costs nearly $1,000/year," with as many as six new digital subscriptions needed to make up revenue for each lost print subscriber. Chyi added that "quickened declines in print circulation (21%) and the gigantic print-digital price gap suggest a decrease in overall subscription revenue," potentially necessitating a review of "pricing, product, and revenue strategy" at affected newspapers.

Bainum Mulls Personal Money Offer for Tribune:

Choice Hotels International Chairman Stewart Bainum Jr. is offering to put as much as $200 million of his personal fortune and $100 billion in debt financing "into a takeover attempt for Tribune Publishing as he tries to recruit like-minded partners for the deal," Gerry Smith of Bloomberg reported Thursday. The hotelier and politician "has been trying to put together a fresh proposal after Swiss billionaire Hansjoerg Wyss dropped out of an investment group that they called Newslight" amid fears that the organization would be unable to position the Chicago Tribune as a national newspaper, leading Tribune's board to approve a competing offer from hedge fund-backed Alden Global Capital. Although Bainum "has approached leaders of major foundations in Chicago about joining him in the bid," a "willing partner" has yet to emerge.

Facebook Begins $5 Million Local Newsletter Push:

Facebook announced Thursday that it will give $5 million "to pay local journalists in multi-year deals as part of its new publishing platform to help independent writers attract an audience and make money through the social media network," according to Sheila Dang of Reuters. Priority will be given to "reporters who plan to cover 'Black, Indigenous, Latinx, Asian or other audiences of color' in locations that lack an existing news source," Dang added. Applications will be evaluated by the platform in conjunction with the International Center for Journalists and the National Association of Hispanic Journalists. Following a February conflict with the Australian government over paying news organizations for content, Facebook "pledged to invest $1 billion in the news industry over the next three years."

USA Today Launches Paywall, Digital Subscription Plan:

Beginning this month, USA Today has "put some of its premium stories behind a paywall," asking those who are interested in reading further to purchase a $4.99/month digital subscription, Rick Edmonds of Poynter reported Wednesday. Although the newspaper has "published a short note to potential digital subscribers" confirming the shift, parent company Gannett "otherwise has not announced the pivot to paid digital." A spokesperson "described the offering as a test but said the company would not be willing to discuss business details until later this quarter." Gannett CEO Mike Reed, who has "defined a goal of reaching 10 million paid digital subscribers company-wide" over the next five years, said in a February conference call that the company's top priority is “to continue its evolution from a more traditional print media business to a digitally focused content platform.” (USA Today Editor in Chief Nicole Carroll is a member of the Pulitzer Prize Board.)

Al Schmitt (1930–2021):

Noted recording engineer Al Schmitt died Monday at the age of 91, according to Joe Lynch of Billboard. In a career virtually bookended by projects with Pulitzer winners Duke Ellington (an early 1950s session) and Bob Dylan (the singer-songwriter's 2015 standards album "Shadows in the Night"), Schmitt earned 20 Grammy Awards for work with such disparate artists as Henry Mancini, the band Toto and Natalie Cole. Patrick Kraus, Universal Music Group's senior vice president of recording studios and archive management, said: "It's hard to imagine Capitol Studios without Al at a console, dialing in a mix, catching up with one of his many friends or lighting the place up with his smile and laugh. He will be deeply missed."