This morning the publisher of Newsday, Tim Knight was our speaker. Tim began his formal remarks by addressing the advertising scandal at the paper. To his credit he did not minimize the problem. Newsday had inflated its readership numbers that determine advertising rates. He then said “A crisis is a terrible thing to waste” He was candid about the problem and he explained how the rate complaints were resolved with the advertisers.

 

He then discussed with us the separation of news and editorial content. It may be hard for many of us to believe that a credible separation can exist. I personally believe it is possible, but doesn’t always happen that way. The Wall Street Journal for example is a very conservative paper, but the news section of the paper can be very even handed. In fact labor relations with unions at the Journal are among the best in the business. And speaking of unions, Newsday is about to embark on labor negotiations as the long term contracts are due to expire soon. He is confident that negotiations between the union and Newsday will come to a fruitful conclusion. Negotiations are beginning early.

 

Newsday, under Tim’s leadership is in an introspective mode. Many facets of the business are being revisited. The stakeholders, according to Tim, include the general public, the readers, and the employees. There is a need to balance the needs of all of the people that this enterprise effects. This is not easy, and during the Q&A I asked about how you keep this message going. Tim conceded that was in fact the most difficult thing to do, but at the same time, absolutely necessary.

 

Mr. Knight enumerated the major problems that would continue to be of interest to Newsday. Among the more important issues are education, and affordable housing.  Tim Knight is a fresh face and he appears to be committed to building a paper that is worthy of a world class status. He also seems to have the credentials as a newspaper man. We wish him well and thank him for his presence at LIMBA.