When daily papers look at magazines - newspaper coverage of the periodical publishing industry

When our brethren in the daily press view our industry, it can he a source of delight, amusement and, sometimes, anguish--depending on what they hit and what they miss.

Any story that mentions sex, politics or the running battle between New York and the revamped New Yorker earns us some daily ink. Yet a story that "Folio: First Day" broke about California's state pension fund, CalPERS, was completely ignored. Apparently the fact that it had forced Time Warner to eliminate all future "golden parachute" provisions wasn't sexy enough for the general media.

Nor did the January 1 merger of Reed and Elsevier get much mention. Most surprising was The New York Times, reaction, as we alerted them to the biggest magazine merger since the Time-Warner deal. "What merger?" asked two reporters on the business section. They didn't move on the news until two days after our story appeared, and a day after The Wall Street Journals two stories. Boston Globe was even slower, although the area is home to Reed s subsidiary, Cahners Publishing.

Then there's K-III. I pegged them as comers in 1990 with a story headlined: "K-III Armed with Billion-Dollar War Chest." It wasn't until K-III purchased nine titles from Rupert Murdoch in mid-1991 that the daily press noticed them.

THe best business and financial stories require knowledge of the industry. Too often, the dailies don't have it, but write as if they do. So here's another headline you read here first: Sometime this year you'll see the NYT story, "Surprising New Media Giant--Reed Elsevier--Buys XYZ!" (But please. don't anyone wake them Up ahead of time).

COPYRIGHT 1993 Copyright by Media Central Inc., A PRIMEDIA Company. All rights reserved.
COPYRIGHT 2004 Gale Group