L.A. magazine tightens up

Emmis Communications, which owns Los Angeles magazine, Orange Coast and Texas Monthly, is cutting salaries across the board by 2 percent, another sign of the times in the publishing biz. Also, about 40 jobs from the company’s publishing division are being cut - that's a 4.5 percent workforce reduction. Two folks from LAM were let go (other trims will be through attrition). Here's a snippet from the Emmis statement:

The publishing industry has seen a steady stream of staff reductions and expense cutting in recent months. We believe that the expense reductions we are implementing for the coming year are considerably more thoughtful and measured than what we've seen from many of our peers. Emmis Publishing employs some of the most talented people in our industry and is continually honored for excellence. We are very confident in the future of the city and regional magazine business.

Within the publishing division of Emmis, first-quarter revenues were $22.6 million, up from $22.2 million a year earlier. Emmis doesn’t break out the financials of specific magazines, but ad revenues at Los Angeles magazine are believed to be down a bit.
Radio revenues were off 1 percent - that's where some of the bigger problems appear to be. Here's a story from Folio and here's the Emmis earnings release.

FD: As some of you know, I'm a contributing writer to Los Angeles magazine.


More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing
Previous story: Jobless rate skyrockets

Next story: Behind Dr. Doom

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner


Advertisement
Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook