Schneps Media acquires amNewYork from Newsday Media Group

BY JAMES T. MADORE, Newsday, Special to Schneps Media | Newsday Media Group is selling amNewYork, its free commuter newspaper in New York City, to Schneps Media, effective Oct. 11, officials announced Wednesday.

The price was not disclosed. Schneps executives said they will expand amNewYork through events programming and broadcasting.

Launched in 2003, amNewYork is Manhattan’s highest daily circulation newspaper and has almost 1 million unique visitors to its website each month.

Newsday publisher Debby Krenek said: “amNewYork has become an important part of daily life in the city … We are confident that this tradition of serving New Yorkers will continue with Schneps Media, whose strong commitment to local media makes them the ideal new publisher of amNewYork.”

Schneps owns 33 newspapers, 28 magazines and specialty publications and 20 websites, produces numerous podcasts and hosts 50 annual events. Among its publications are Queens Courier, TimesLedger, The Brooklyn Paper, The Villager, Long Island Press and the Spanish-language paper Noticia Long Island.

“Moving forward Newsday Media Group will fully focus on serving Long Islanders with news, information and experiences as we continue to expand our multimedia products and platforms, and fulfill our mission of being the primary source of powerful local journalism as ‘Your Eye on LI,’ ” Krenek said.

Last month, Newsday moved into a new multimillion-dollar headquarters in Melville that will feature a television studio and auditorium capable of streaming live events on newsday.com.

Schneps president and publisher Victoria Schneps said: “We are delighted to add amNewYork to our media company. We thank Newsday for this opportunity to carry on the commitment of amNewYork to deliver the best and most important local news stories.”

Schneps started her company in the mid-1980s with a weekly paper published from the living room of her Bayside, Queens, home.

Her son Joshua Schneps, the company’s CEO and co-publisher, said, “We look forward to enhancing amNewYork’s brand through our expertise in multiplatform media, including print, digital, events, social media and broadcasting.”

One Response to Schneps Media acquires amNewYork from Newsday Media Group

  1. As a teenager in the 1960’s, I can still remember being able to buy four newspapers for less than a dollar and getting change back. At the end of the day laying off or offering buyouts to employees, increasing the newsstand price, shrinking content, reduction in actual newsprint size or favorable government subsidies will not be the determining factor for the survival of Newsday, Daily News, Post, Times or other daily newspapers. Newsday just offered early retirement packages to employees within weeks of celebrating its 79th anniversary of first published on September 4th, 1940. Now they continue to abandon the NYC marketplace by selling off AM New York.

    We live in one of the few remaining free societies, with a wealth of information sources available for any citizen to access. Most American cities and suburbs are down to one local daily or weekly newspaper. Papers have to deal with continued increasing costs for news print, delivery and distribution along with reduced advertising revenues and declining readership. They may face competitors in the surrounding suburbs, along with national editions of USA Today, Wall Street Journal and NY Times.

    In Metropolitan New York, there are also all news radio stations such as WCBS 88, 1010 WINS, Bloomberg News and 101.9FM News along with other radio stations. ABC, CBS, NBC and PBS have national network news, as do local affiliates along with local independent news broadcasts such as FOX 5, MY 9 and PIX 11, cable news stations such as News One (in NYC), CNBC, CNN, FOX, BBC along with News Twelve and CBS 10/55. Many get late breaking news from the Internet. This is stale when reaching print the next day. The growing population of new immigrants support their own newspapers, radio and television stations.

    Financial challenges on maintaining the bottom line have resulted in less resources being devoted to investigative reporting and a greater reliance on wire service stories. As a result, original newspaper content continues to shrink. This puts more pressure on the remaining reporters assigned to various departments. There is intense competition between international, state, business, sports, entertainment and other sections of newspapers. It is becoming more difficult to provide real detailed coverage of local news.

    Daily newspapers concentrate on international, Washington, Albany, business and sports stories. There are few reporters assigned to cover local neighborhood news stories. These reporters have to compete against colleagues for the limited available print space. This puts even more pressure on the remaining reporters to fight for every column inch in their respective newspapers.

    Prior to the NYC 1962 newspaper strike, there were actually twelve daily newspapers published in the Big Apple. The strike resulted in the closing or consolidation of several newspapers including the Journal American, World Telegram & Sun, Mirror and Herald Tribune. Later both the Long Island Star Journal, Long Island Press and Suffolk Sun ended publication.

    It was an era when a majority of citizens received their news from newspapers, as opposed to television news. These broadcasts would be primarily local news, sports and weather, seldom more than 30 minutes. Technology and budgets were not readily available to send reporters out for remote coverage of national or international stories. Readers could select from morning, midday and late afternoon editions, available at thousands of newsstands.

    Today, residents can select from Newsday, the Times, Daily News, Post, USA Today, Wall Street Journal, Staten Island Advance along with freebies such as AM New York and Metro New York. There has also been major growth in weekly papers based in neighborhoods all around the five boroughs of NYC and Long Island. Neighborhood weekly newspapers provide coverage of local community news stories usually overlooked by other media. .

    Many of us have a continued thirst for news from Washington, Albany and City Hall. Your weekly newspapers also provide opportunity and training for reporters. Some move on to work for daily newspapers.

    If you want to be informed of what goes on in the neighborhood, read your local weekly community newspaper. Patronize their advertises and shop local. They help your friendly newspapers survive and neighborhood prosper.

    In the marketplace of ideas, let us hope there continues to be room for everyone, including AM New York and other Schneps Media publications. They all fill a valuable niche in the information highway.

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