May 19, 2010: New Boston Globe publisher Christopher Mayer

>> Rooney: THERE HAS

BEEN SOME FINANCIAL

STABILIZATION AT "THE

BOSTON GLOBE" OF LATE, BUT

IT HAS COME AT A HUGE

PRICE.

FOR ONE THING, THE PAPER

COST MORE, AND CIRCULATION

IS DOWN.

STILL, IT IS ALL PART OF A

LARGER STRATEGY AIMED AT

KEEPING MORE, AND REACHING

OUT TO MORE ONLINE USERS,

AND EVENTUALLY SETTING UP

FIRE WALLS FOR PAID TO

READ CONTENT.

JOINING ME IS THE NEW

PUBLISHER OF THE GLOBE.

YOU'VE COME RIGHT UP

THROUGH THE RANKS AND NOW

YOU'RE THE PUBLISHER.

>> I AM.

VERY EXCITED TO BE SO.

>> Rooney: IS THE PAPER

MAKING ANY MONEY NOW?

>> WELL, WE'VE STABILIZED

OUR FINANCIAL SITUATION,

AS YOU'VE SAID.

AND THE REAL FOCUS WE'VE

HAD RIGHT NOW IS TO REALLY

SUPPORT THE JOURNALISTIC

SUBMISSION, AND GROW OUR

ONLINE, AND FOCUS ON WHAT

THE VALUE PROPOSITION IS

TO THE ADVERTISER.

>> Rooney: DO YOU WORRY,

THOUGH, ABOUT THE LOSS OF

CIRCULATION, THE LOSS OF

SUBSCRIBERS.

PEOPLE ARE ALWAYS SAYING,

YOU SAID THAT LAST NIGHT,

I'M CANCELLING MY

SUBSCRIPTION.

IT IS NOT ABOUT THAT.

THE IDEA IS YOURS IS

DIFFERENT.

THEY CAN GET IT ELSEWHERE.

THEY DON'T HAVE TO BUY

YOUR NEWSPAPER.

IT HAS TO BE TERRIBLY

FRUSTRATING.

>> IT IS ONE OF OUR

BIGGEST CHALLENGES RIGHT

NOW, IS TO MAKE SURE WE'RE

APPROPRIATELY GETTING THE

VALUE FOR ALL OF THE

CONTENT THAT WE CREATE.

WHAT WE END UP DOING, THE

NEWS CREATION, IS THE MOST

EXPENSIVE FORM OF

JOURNALISM.

OPINION IS LESS EXPENSIVE

BECAUSE IT IS DERIVED

AFTER THE NEWS IS CREATED.

THAT AMOUNT OF CONTENT

CREATION, FINDING THE

STORIES, AND DOING ALL OF

THE RESEARCH ASSOCIATED

WITH IT, ENSURING IT IS

OBJECTIVE, AND CALLING FOR

QUOTES AND DOING THE

FOLLOWUP TAKES TIME AND

COSTS MONEY.

THERE IS VALUE ASSOCIATED

WITH THAT.

AND ASSURING WE'RE GETTING

THE VALUE FOR THAT IN

PRINT AND THE DIGITAL

SPACE IS THE BIGGEST

CHALLENGE WE FACE THIS

YEAR.

>> Rooney: AND PEOPLE

CAN GET IT FOR FREE ON

LINE, AND EVERYBODY ELSE

IN THE WHOLE CITY AND

ACROSS COUNTRY RIPS IT OFF

FOR FREE.

BELIEVE ME, I UNDERSTAND

HOW THIS WORKS.

WHAT ABOUT THESE FIRE

WALLS.

"NEW YORK TIMES" IS ABOUT

TO SET THIS UP WHERE YOU

PAY FOR CERTAIN CONTENT.

THEY'VE TRIED IT IN THE

PAST.

WALL STREET IS DOING IT

WITH SOME SUCCESS.

WHAT WOULD YOU CHARGE FOR?

>> WE'RE TAKING A HARD

LOOK AT THAT RIGHT NOW.

ONE OF THE THINGS WE'RE

DOING A LITTLE

DIFFERENTLY.

HISTORICALLY WHEN WE'VE

TAKEN A LOOK AT HOW TO

PROTECT THE CONTENT IN THE

DIGITAL SPACE AND EXTRACT

PAYMENT FOR THAT, WE

THOUGHT OF THE WEB AS

REALLY THE ONLY DIGITAL

MEDIUM.

WITH THE ADDING OF TABLETS

AND MOBILE, DIGITAL IS

REALLY MUCH BEYOND THE

WEB.

AND WHAT WE'RE LOOKING AT

RIGHT NOW IS FOCUSED ON

WHAT THE VALUE PROPOSITION

IS TO THE CONSUMERS.

IT IS NOT JUST WHAT CAN WE

HAVE AND WHAT CAN WE

PROVIDE, BUT WHEN CAN WE

PROVIDE IT, HOW DOES THE

CONSUMER WANT TO CONSUME

IT.

LOOKING AT THAT IS

SOMETHING WHERE WE'RE

ULTIMATELY GOING TO BE

POSITIONING THE CONT TENT

TO BE DELIVERING THE

VALUE.

SOME WOULD BE

ADVERTISING-SUPPORTED

MODELS, AND SOME WILL BE

CONSUMER-SUPPORTED MODELS.

AS FOR THE WEBSITE, AND

SPECIFICALLY THE ENTIRETY

OF "THE BOSTON GLOBE"

CONTENT ON THE WEBSITE, WE

ARE TAKING A HARD LOOK AT

THAT RIGHT NOW.

>> Rooney: YOU DON'T

KNOW EXACTLY, OR IF YOU

DID, YOU ARE NOT TELLING

ME WHAT YOU'RE GOING TO

CHARGE FOR IT?

>> IF I KNEW, I WOULD TELL

YOU.

WE EXPECT TO COMPLETE THE

ANALYSIS ON THAT.

CERTAINLY EACH MARKET IS

DIFFERENT.

BUT WORCESTER TELL TELEGRAM &

GAZETTE ANNOUNCED THEY'RE

GOING TO A PAY PLAN THIS

SUMMER, IN CONJUNCTION

WITH THEIR PRINT PRODUCT.

THAT'S A MODEL THAT MAKES

SENSE IN THAT MARKETPLACE.

BOTH THE COMPETITIVE

FORCES, AND THE

OPPORTUNITY TO READ IN

THIS MARKET IS DIFFERENT.

>> Rooney: YOUR SECOND

PROBLEM IS THAT FOR THE

MOST PART, YOUR HARD COPY

ADVERTISING IS WHAT STILL

BRINGS IN THE MOST

REVENUE.

AT WHAT POINT IS THAT

GOING TO CROSS OVER SO

THAT THE DIGITAL,

ONLINE -- WHATEVER YOU

WANT TO CALL IT -- WILL BE

EQUAL, IF NOT GREATER

THAN?

>> SO THE REVENUE STREAMS

THAT WE HAVE FOR BOTH

PRINT AND DIGITAL ARE

CONSUMER REVENUE,

ADVERTISING REVENUE, AND

LICENSING REVENUE OR

PARTNERSHIP DATA.

IN PRINT, WE HAVE ALL

THREE.

IN PRINT, THE CONSUMER

REVENUE THAT WE RECEIVE IS

ACTUALLY HIGHER AND FUNDS

MORE --

>> Rooney: WHAT DO YOU

MEAN BY THAT, STUFF

LIKE --

>> PRESCRIPTION REVENUE,

SUBSCRIBERS.

WHAT WE DONT HAVE IN THE

DIGITAL SPACE IS ANY

CONSUMER REVENUE TO ANY

APPRECIABLE REVENUE COMING

INMENT PART OF WHAT WE

NEED TO DO IS BALANCE OUT

THE OVERALL KIND OF

BUSINESS PORTFOLIO.

PARTICULARLY AS WE SEE

CONSUMERS WHO ARE EITHER

MOVING FROM PRINTED

DIGITAL --

>> Rooney: THAT'S PAY TO

READ.

BUT WHAT ABOUT

ADVERTISING?

>> THE ADVERTISING MODEL

IN THE DIGITAL SPACE FOR

US IS ACTUALLY VERY

HEALTHY.

IT IS COMPARED TO A NUMBER

OF OTHER NEWS WEBSITES, IT

IS ONE OF THE THINGS,

FRANKLY, THAT MAKES IT

CHALLENGING FOR US TO

FIGURE OUT HOW WE'RE GOING

TO MIGRATE INTO A PAY

MODEL BECAUSE WE CAN'T

DESTABILIZE THE EXISTING

MODEL WE HAVE.

I THINK THE EFFECTIVE NUS

NUS -- EFFECTIVENESS IN

THE DIGITAL WILL BE TIED

TO OTHER THINGS THAT

WOULDN'T LEND ITSELF TO

PRINT, AND WE'LL HAVE A

CORE OF AVERTISERS WILL

DERIVE VALUE FROM THE

PRINT CONSUMERS THAT WE

HAVE.

IT HAS 32% REACH JUST IN

PRINT IN THIS MARKET.

>> Rooney: IT WAS JUST A

YEAR AGO THAT THE PAPER

WAS GOING THROUGH THAT

FEROCIOUSLY UGLY POSITION

WITH THE UNION -- WAS IT

JUST A YEAR AGO?

>> YES.

>> Rooney: THE UNION

MADE THOSE CONCESSIONS,

AND AT THE END OF THIS

PAST YEAR -- ACTUALLY IN

THE FIRST QUARTER, IT WAS

REPORTED THAT JANET

ROBINSON AND OTHERS WERE

TAKING ENORMOUS $6 MILLION

BONUSES.

WERE YOU AS FRUSTRATED AS

YOUR RANK-AND-FILE ABOUT

THAT?

>> WELL, I WOULD SAY THAT

THE "NEW YORK TIMES"

COMPENSATION POLICY AT THE

CORPORATE LEVEL IS NOT

ANYTHING THAT I

INFLUENCED.

AND THE ASSESSMENT OF HOW

THE "NEW YORK TIMES"

COMPANY DID WAS NOT

INFLUENCED AT ALL BY HOW

WE PERFORMED?

>> Rooney: I KNOW, BUT

JUST THE APPEARANCE OF IT.

ASKING YOUR RANK-AND-FILE

WORKERS TO TAKE THOSE KIND

OF HITS, WHEN THEY ONLY

MAKE BETWEEN $40,000 AND

$80,000, AND THEN TO

SEE -- COME ON.

>> WELL, FOR US TO BE

SUCCESSFUL, WE HAVE TO

HAVE A BUSINESS MODEL THAT

IS SUSTAINABLE IN THIS

MARKET.

>> Rooney: YOU'RE NOT

GOING TO TOUCH THAT

QUESTION.

I GIVE YOU SOME CREDIT

THERE.

FOR YEARS MARTY BARON HAS

BEEN THE FACE OF "THE

BOSTON GLOBE".

EVEN WHEN OTHER PUBLISHERS

WERE THERE, STEVEN AMESLY.

ARE YOU GOING TO PUT

YOURSELF OUT MORE?

>> ONE OF THE AREAS OF

FOCUS SINCE I TOOK OVER

WAS TO MAKE SURE I CAN

CONNECT TO THE COMMUNITY.

I'M TRYING TO BE MORE

ACTIVE --

>> Rooney: YOU'RE A

LOCAL GUY, WHERE THOSE TWO

WERE TIMES GUYS

ORIGINALLY.

>> CERTAINLY LOCAL HELPS.

I KNOW MY WAY AROUND THE

CITY, STILL LIVE IN THE

CITY, AND HAVE A PASSION

FOR THE CITY.

IT IS IMPORTANT TO ME.

IT IS IMPORTANT THAT WE

SUCCEED BECAUSE I BELIEVE

VERY STRONGLY IN THE

MISSION THAT WE HAVE AND

WHAT ITS IMPACT IS ON

SOCIETY.

I THINK THAT PART OF BEING

A GOOD CORPORATE CITIZEN

IS CONTINUING TO GIVE BACK

IN A VARIETY OF DIFFERENT

WAYS.

IF THAT'S WITH OUR TIME,

TALENT OR MONEY.

>> Rooney: AND THE

RANK-AND-FILE SEEMS TO

GENUINELY LIKE YOU.

I MADE A FEW PHONE CALLS,

AND YOU GET HIGH MARKS AS

BEING A GOOD GUY.

SERIOUSLY, WHEN YOU THINK

SOMEONE IS ON YOUR TEAM

AND IS INVESTED IN THEIR

COMMUNITY, MAKES A

DIFFERENCE.

>> I THINK THE THING THAT

IS EXCITING ABOUT WHERE WE

ARE RIGHT NOW, IS THERE IS

REALLY A RALLYING AROUND

AND A FACE IN THE

JOURNALISTIC MISSION.

WE KNOW WE WANT TO

SUCCEED.

AND WE'RE FACING A VARIETY

OF CHALLENGES.

CHANGING BUSINESS MODELS,

AND COMING JUST OUT OF THE

RECESSION, BUT NOT

ENTIRELY AT THIS POINT.

SO THOSE EVENTS ARE

CONTRIBUTING TO MAKING IT

MORE CHALLENGING.

BUT WE SHARE WITHIN THE

ORGANIZATION A COMMON

FOCUS ON WHAT OUR CORE

MISSION IS.

WHAT DO WE PRODUCE THAT IS

OF VALUE.

ANYTHING YOU HAVE OF

VALUE, THERE IS A BUSINESS

MODEL AROUND THAT.

FOR US TO BE ABLE TO FOCUS

ON BUILDING THAT THROUGH

THIS TRANSITION IS

CHALLENGING, BUT I THINK

THERE IS A REAL RALLYING

AROUND THE STRATEGY AND

THE DIRECTION WE'RE GOING

AS WELL.

>> Rooney: ALL RIGHT,

CHRIS MAYOR, PUBLISHER OF

"THE BOSTON GLOBE".

THANK YOU FOR COMING.

>> THANKS FOR HAVING ME.

>> Rooney: WHEN WE

CONTINUE, CELEBRATING THE

KENNEDYS AND THE POPS.