Keith Kelly of the New York Post reports that Crain’s New York Business may have lost as much as $1 million in 2014, and its weekly publication schedule is being debated.
Kelly writes, “Parent Crain Communications is also considering cutting the frequency of the 30-year-old weekly, printing it every other week to cut annual losses estimated to reach into the seven figures.
“‘It is something we’re actively discussing,’ David Klein, group publisher and senior vice president, told The Post. ‘Right now we’re still weekly, but print is what is challenged.
“‘You have to get costs in line with revenue,’ he said, adding that other business segments, including digital and events, are posting gains.
“On Thursday, Editor Glenn Coleman resigned. Insiders said he did not want to make the cuts the company was seeking.
“He is taking a consulting role as an editor-at-large, while his No. 2, Managing Editor Jeremy Smerd, moved up the masthead to replace him. Smerd, however, was only named executive editor and did not get the editor title that Coleman held.”
Read more here. Talking Biz News broke the news on Friday morning that the publication laid off 40 percent of its editorial staff.
