MASON CITY – Lee Enterprises, Inc. the owner of the Globe Gazette, filed its 1st quarter financial results on January 22nd.
According to a press release, regarding its employees, “compensation decreased 4.9%, with the average number of full-time equivalent employees down 8.1%.”
The press release indicates that Lee revenues declined nearly across the board.
“Operating revenue for the 13 weeks ended December 30, 2012 decreased 3.4% compared with a year ago. Combined print and digital advertising revenue decreased 6.3%, with retail advertising down 3.8%, classified down 7.7% and national down 24.2%. Combined print and digital classified employment revenue decreased 8.9%, while automotive decreased 6.9%, real estate decreased 11.5% and other classified decreased 5.9%. Digital advertising revenue on a stand-alone basis increased 4.8%”, Lee claimed. “Print advertising revenue on a stand-alone basis decreased 7.7%. Circulation revenue increased 3.9%.”
Lee claimed that operating expenses, excluding depreciation, amortization and unusual matters, decreased 4.0%.
Lee continues to tighten up the cost to produce its print product, which has become noticeably smaller in some markets in recent years.
“Newsprint and ink expense decreased 13.1%, a result of a reduction in newsprint volume of 12.6%. Other operating expenses decreased 0.6%.”
Lee claimed in the press release that its “paid content initiatives” are “receiving good reception. Circulation revenue, which includes digital subscriptions, increased 3.9% in the quarter.”
Now that’s there’s a few comments on this, I will weigh in with my opinion.
It’s just a matter of time before the Globe Gazette, or what I like to call the Titanic, will finish sinking to the bottom of Mason City and become virtually nothing.
I have heard a rumor that two of their best photographers now moonlight as beermakers and might even open a beerdrinking bar in town. You will be able to admeyer a glass of beer there while perhaps reading a book. Apparently they see the writing on the wall and are changing careers because they know their time at the Glob is limited.
The Globe’s print paper is smaller than ever, as is its reputation. Its website has done nothing but get worse since its pinnacle in 2006. Their parent company is in over its head and might not survive. I even heard its most well-known writer is now an hourly employee, no more salary.
I see the previous commenter mentioned Mr. Howard Query, (I do believe they are related), what are his accomplishments except becoming Robin’s Parade Grand Marshall and propping up her Chamber? Where is his leadership in the community?
By the way Mrs. Broome, NorthIowaToday.com stands up for and respects the common person, whether she is rich or poor, black or white, it does not matter. Everyone gets a fair chance here to express themselves, something your Glob gave up on long ago. Do not be mad at NIT for changing the game and claiming its place at the top.
I disagree with you both. I think Mr.Q publisher of the GG and his staff do a great job. They do a great job reporting the news and respecting peoples wishes unlike this site.
Never have subscribed to the Globe, never will. I sometimes get weak and buy a Sunday newspaper maybe once every month or two. However, I regret it after peeling all the useless inserts out. The remaining pages are either news I already learned about three days ago, national news that is old, or classified ads about jobs that are not paying enough for me to even consider.
This should surprise no one. The GLOB called me a week ago to tell me that my subscription was due in a week. I asked why they called because it was not over due or even due and they wouldn’t tell me. I told them we had never been late or missed a payment and I resented them calling. They must be real cash poor if they are doing that. If they ever do it again they will lose a customer that has paid for the rag for over 30 years.