Today's Top Stories

Torstar revenues up in second quarter

Torstar Corp., publisher of the Toronto Star, reported higher revenues in the second quarter of 2011, while net income in the quarter was $228.3 million, or $2.87 per share, up $204.9 million, or $2.57 per share, from $23.4 million last year. But much of that is attributable to Torstar’s sale of its 20% stake in CTV Inc. Earnings before interest, taxes, depreciation and amortization, were $65.7 million, down $5.1 million from the same period a year ago.

Denver's KUSA Leads Thriving Online Scene

If the 2009 shuttering of the Rocky Mountain News left a void in Denver’s media market, it is difficult to find the hole today, with the former mining town offering digital gold to prospectors digging for news on the internet. The most popular web sites belong to NBC affiliate KUSA and the city’s surviving daily, The Denver Post, but smaller outlets -- including several nonprofit efforts -- have built loyal audiences and helped preserve the region’s journalistic richness.

Goodbye and thank you from Seattle PostGlobe

We started as a nonprofit news site created by laid-off staffers of the Seattle Post-Intelligencer in 2009. But since then, donations have fallen off. Ads have generated no meaningful revenue -- ever. We began with no startup money. We obtained no grants. All of which actually provided unusual freedom. But as a volunteer-run site, we’ve run out of helping hands as unemployed journalists have left for jobs. (Which is a good thing!) So this is our final month.

New Hacking Case Outrages Britain

Britain was awash in a new surge of outrage over the phone hacking scandal on Thursday, as news emerged that Scotland Yard had added to the list of probable victims a woman whose 8-year-old daughter was murdered by a repeat sex offender in 2000. The phone in question apparently was provided to her by the onetime editor of The News of the World, Rebekah Brooks, as part of a campaign for a new law to warn parents if child sex offenders lived nearby.

Slow economic growth raising unemployment rate

According to today’s report from the Bureau of Economic Analysis, the last six months have seen an average growth rate of less than 1%, a rate of growth that fully explains why the previously declining unemployment rate reversed course in the past six months. Moreover, there is nothing in today’s report to suggest that growth is imminent, with all signs pointing to an economy that remains below potential because it lacks sufficient spending.

Thomson CEO takes reins of main division

After disappointing results and slowing growth this year, Thomson Reuters Corp. chief executive officer Tom Glocer is taking direct control of the company’s largest division in an attempt to reverse its fortunes. Revenue for the markets division, which includes the well-known Reuters newswire service and accounts for about 55% of the company’s sales, rose just 1% in the second quarter.

A. H. Belo reports $6.8 million net loss in second quarter

With its revenue starting to decline again at a faster rate, A. H. Belo Corporation has reported a net loss of $6.8 million, or 32 cents a share, in the second quarter. A slight increase in circulation revenue at The Dallas Morning News, the company’s largest property, was offset by declines at The Providence Journal in Rhode Island and The Press-Enterprise in Riverside, Calif. and advertising revenue, including print and digital products, declined 9.3%.

‘News service’ just a wolf in disguise

WisconsinReporter.com, whose stories increasingly turn up in that state's short-staffed local newspapers, is a new service concocted by the Franklin Center for Government and Public Integrity, a conservative nonprofit that has had its hands in the tea party movement and the pro-Scott Walker rallies on the Capitol Square. In other words, it’s yet another endeavor by opportunistic conservatives to fill a void created by the economic woes of traditional media, which can use its stories for free.

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