Articles of the Day


Yahoo’s Stock Below $13; Other Media Stock Down To New Lows — A bit hard to stay focused and keep writing about media, considering the scope of other things happening around. Anyway, in our own industry, even as analysts downgrade online ad revenues ahead of Q3 earnings period, Yahoo was down to below $13, the first time in more than five years. This is the lowest since the summer of 2003, when it was deep in the first post-bubble recession. It closes today down more than 8 percent to $12.65. The company reports its Q308 earnings on Oct 21, and analysts are expecting quarterly profits and sales to fall short of consensus estimates, due to the weakening display ad market. All kinds of rumors are surfacing now, including some major layoffs, serious merger talks between Yahoo and AOL, and other more wilder ones. And of course the Google-Yahoo (NSDQ: YHOO) ad partnership may be stuck in regulatory issues for a while now.

Analysts Lower Q3 Estimates For Online Ad Revenues; Offline Still Looks Worse — Given the continued downward spirals in the world’s financial markets, UBS internet analyst Ben Schachter says the firm is lowering price estimates for online ad revenues ahead of the Q3 earnings report period. Still, it may be at least a small consolation that offline looks worse and some web-based companies could benefit as more companies look to cheaper and more targeted online ads. In an analyst note (PDF, not online), Schachter said that while the first two months of Q3 “were decent,” September proved difficult.

AdGooroo: Search Advertisers Flocking To MSN — There were nearly 20% more advertisers actively running paid search campaigns on Microsoft’s Live Search in the third quarter of 2008 than in the second, according to new stats from AdGooroo. Meanwhile, there was a 3% increase in Google’s active advertiser base, and about a 3% drop in active advertisers for Yahoo. The online advertising technology and competitive intelligence firm released its “Search Engine Advertiser Update–Q308,” which also showed that all three of the big engines seemed to take economy-related hits in the middle of the quarter.

Prospective Buyers Line Up For San Diego U-T; But Just Looking For Now, Thanks — About four buyers are taking a serious look at The San Diego Union-Tribune, which put itself up for sale two months ago. Voice of San Diego identifies the prospective suitors: New York Times Company (NYSE: NYT), MediaNews Group, Tribune Company and Canadian newspaper publisher Black Press. But with the daily’s estimated value range of $200 million to $300 million—which VoSD attributes to Outsell’s Ken Doctor—it’s an open question whether any of those companies are prepared to pay that sort of price for a newspaper right now. And is the U-T, which is owned by privately-held Copley Press, actually worth that much? VoSD notes that circ has been slipping and the U-T has lost a lot of talent—two things that have been afflicting just about every newspaper to one degree or another.

Tech Not Excluded From Meltdown; Startups Told To Cut Back Spending — Now that we are weeks into a financial crisis, not only are the predictions starting to surface on how technology, and specifically wireless will be affected, but actions are starting to be taken. In one of the most alarming examples, GigaOm reports today, that Sequoia Capital, is telling its portfolio companies to buckle down, and illustrated the point by displaying an image of a grave stone with the message R.I.P.: Good Times.

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