NewsInc. Newswire logo Nov. 1, 1999
Vol. 2, No. 47

NEWSINC. NEWSWIRE is a weekly distribution of newspaper information exclusively for subscribers of NEWSINC., the biweekly newsletter on the business of the newspaper business. It includes financial reports, new products, acquisitions and other developments in the newspaper business.

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  • ABITIBI-CONSOLIDATED INC.
    Citing excess production capacity in the current newsprint market, the Montreal-based newsprint manufacturer has announced that it will close its Gaspesia newsprint mill at Chandler, Quebec. The mill has been idle since June 20.

    Abitibi-Consolidated will pay severance to 327 employees at the mill and another 100 employees involved in forestry operations in the area, as well as 40 management employees. The union representing workers at the mill, the Communications, Energy and Paperworkers Union of Canada, said it would seek to have the mill, which at one time employed more than 600 people, turned over to the Chandler community in an effort to continue operations under new management.


  • CANADIAN ASSOCIATION OF PULP AND PAPER
    The Montreal-based trade group has announced that the Canadian newsprint industry operated at 90 percent of capacity in September, up from 80 percent in September 1998, when mills in eastern Canada were on strike.

    Production grew 13.3 percent, from 627,000 tons to 711,000 tons, with total shipments growing by 22.5 percent, from 630,000 tons to 772,000 tons. Shipments to markets outside Canada and the United States grew by 44 percent, from 146,000 tons to 210,000 tons. Shipments to the United States were up 17 percent, from 391,000 tons to 457,000 tons.

    Consumption by U.S. consumers grew 2.3 percent, from 963,000 tons to 985,000 tons, with U.S. dailies using one percent more, up from 780,000 tons to 788,000 tons. U.S. consumers had 40 days of newsprint inventory, while U.S. dailies had 37 days of inventory.


  • FINANCIAL TIMES
    The London-based global financial newspaper has announced that it will begin printing copies for distribution in New England at the NASHUA TELEGRAPH in New Hampshire. The printing site is the FT's fourth in the United States, joining operations in Chicago, Los Angeles and New York.

    Three additional sites will go on-line next year as the paper continues its U.S. expansion, which is expected to grow to 100,000-circulation by the end of the year.

    The FT is on the Web at http://www.ft.com/.


  • KNIGHT RIDDER
    San Jose-based Knight Ridder has declared a dividend of 23 cents per share on common stock and $2.30 per share on preferred stock, payable Nov. 22 to shareholders of record Nov. 10.

    Knight Ridder also announced a plan to repurchase an additional six million shares of its stock, building on a current authorization to buy about 2.1 million shares.

    Knight Ridder is on the Web at http://www.kri.com/.


  • NEWSPAPER ASSOCIATION OF AMERICA
    The trade group, based in Vienna, Va., has released its analysis of newspaper readership data gathered by Scarborough Research for the top 50 U.S. markets. The NAA said newspapers were faring well, especially compared to other media, which have experienced the effects of fragmentation of their audiences.

    The NAA noted that among Internet users in the top 50 markets, more than three in five read a newspaper, with print Sunday readership among surfers who read papers climbing to 78 percent. The trade group said the correlation between on-line readership and continued strong print readership signaled that the two-media presence by newspapers "are a considerable force."

    The NAA's Competitive Media Index did show a decline from spring to fall, with the index dipping from 57.9 percent to 56.9 percent. Sunday readership among adults in the top 50 markets also declined slightly, from 67.8 percent in the spring to 66.9 percent in the fall. But, the CMI showed, broadcast television's audience figures suffered a decline of 1.1 percentage points, falling from 39.6 percent in the spring to 38.5 percent, and radio morning drive listenership also fell, from 25.7 percent to 24.5 percent.

    The NAA is on the Web at http://www.naa.org/.


  • STAR TRIBUNE
    The Minneapolis daily owned by the McClatchy Co. of Sacramento has announced that it will dispense with separate editions for Minneapolis and St. Paul, combining them into a single metro edition that will be distributed across the Twin Cities beginning Nov. 1.

    The paper, which will maintain its St. Paul bureau, will dispense with one press run. The added time will be put toward improving delivery service.

    The STAR TRIBUNE is on the Web at http://www.startribune.com/.


  • TIMES MIRROR CO.
    Los Angeles-based Times Mirror has declared a fourth quarter dividend of 20 cents per share on both Series A and Series C common stock, a dividend of $9.97 per share on cumulative convertible preferred stock Series A, and a dividend of $7.25 per share on Series C-1 and Series C-2 preferred stock.

    The dividends are all payable Dec. 10 to shareholders of record Nov. 23. Times Mirror is on the Web at http://www.tm.com/.

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    NEWSINC. NEWSWIRE is compiled by Pete Wetmore and distributed exclusively to subscribers of NEWSINC. by The Cole Group, which publishes NEWSINC. and THE COLE PAPERS and is consultants to newspapers and magazines worldwide. To receive more information about The Cole Group, send e-mail to: info@colegroup.com.

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