Wednesday, October 29, 2008

NYT Taps Digital Budget for Print Hires

Just saw this on Romenesko and couldn't help but waxing on it for a moment:

NYT taps "investment fund" for business section hires
New York Observer
Executive editor Bill Keller tells his staff the fund "was set up to try and expand some of the business verticals that the company hopes have the potential to make good money down the road." He explains to John Koblin that the money "is in the digital budget, which is merging with the newsroom budget."
So effectively, this is an overt move that signals that the digital side is beginning to, or already is, carrying the financial burden of the print side. The digital side of NYT is expanding and hiring, while the print side is handing out layoffs.

So when will people start realizing which side of the newsroom pays the bills? And, for that matter, does it frustrate employees on the digital side that their profits are handed over to the still-more-prestigious print side with this budget merger?

I'm all for everyone working together, but I still believe there is a considerable amount of ignorance toward the digital side in traditional newsrooms. So it bothers me when the "investment fund" is the hard work of the digital side.

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