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July 15 2011

21:16

Les Hinton, publisher of The Wall Street Journal, says he is resigning

New York Times :: Les Hinton, the chairman of Dow Jones, announced his resignation on Friday, joining Rebekah Brooks, the embattled chief executive of Rupert Murdoch’s British newspaper operations, in the exodus of top officials from Rupert Murdoch’s media empire. Mr. Hinton, a long-time confidant of Mr. Murdoch, ran News International, the British publishing subsidiary of Mr. Murdoch’s News Corporation from 1997 to 2005, during the time when the phone hacking that touched off the scandal took place. 

Continue to read blogs.nytimes.com

September 30 2010

15:07

Digital ad revenue up 30 per cent at Wall Street Journal

The Wall Street Journal’s latest revenue statistics, detailed in a staff memo from Dow Jones & Company CEO Les Hinton (published on PoynterOnline), show an increase in digital ad revenue of more than 29 per cent.

According to the figures, the publication has recorded year-on-year growth across all platforms in the first quarter of the fiscal year 2011.

Print and online revenues for the publication are reportedly up by more than 17 per cent on the previous year’s figures for the same period, while total print advertising revenue increased by more than 21 per cent.

Print circulation revenue was also reportedly up more than 9 percent, or 13 per cent when including digital.

But while in his memo Hinton makes a comparison to competitor the New York Times Company’s release of revenue statistics last week, paidContent clarifies the potential differences of each in its own report on the figures.

Hinton specifically refers to the New York Times Company’s own figures “as a basis of comparison.” He pointed out that the NYTCo forecast last week that online ad sales would be up 14 percent for the quarter, while print ad revenue would be down five percent. It’s worth noting, however, that those figures include the NYTCo as a whole, while the figures Hinton cites for his company seem to refer only to the performance of the Wall Street Journal.

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December 02 2009

09:30

#WANIndia2009: Les Hinton tells newspapers – ‘Beware geeks bearing gifts’

Unsurprisingly Les Hinton, CEO of Dow Jones and part of the Murdoch empire, launched an impassioned attack on free content and Google yesterday as part of his speech to the World Association of Newspapers (WAN) conference.

Hinton criticised the promise of the internet (’the false gospel of the web’) and while describing Google as an everyday wonder, said the search engine is at the heart of the crisis faced by newspapers:

“We were promised that eyeballs meant advertising, clicks meant cash. Free costs too much. News is a business and we should not be afraid to say it,” said Hinton.

“These digital visionaries tell people like me that we just don’t understand them. They talk about the wonders of the interconnected world, about the democratization of journalism. The news, they say, is viral now – that we should be grateful. Well, I think all of us need to beware of geeks bearing gifts.Here we are in 2009 – more viral, less profitable.”

Hinton was previously responsible for News International’s newspapers including the Sunday Times, which will introduce charging online next year. He said the industry itself was ‘the principal architect of its greatest difficulty’ for surrendering its content to aggregators and search engines for free – sentiments echoing Murdoch in Beijing only months ago.

Speech reproduced courtesy of WAN and Scribd.

All coverage of #WANIndia2009 from Journalism.co.uk can be found at this link.

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