Publisher Jesse Angelo is restructuring the money-losing New York Post's revenue operation
For years, Jesse Angelo had been a rising star in the editing ranks of Rupert Murdoch's Australian, British and U.S. tabloids.
Now, fresh off his doomed voyage as editor of News Corp's tablet title, The Daily, which the company killed off in December, Angelo is getting his hands dirty on the advertising end.
In one of his first moves as publisher of the New York Post, the position to which he was elevated after The Daily died, Angelo has announced a business-side restructuring in which the paper's "sales marketing and digital ad operations are being moved directly into the sales department to create a more integrated team," according to a memo obtained by Capital.
Nine positions have been eliminated as a result.
"We are reconfiguring some managerial roles to flatten our organization," Angelo wrote. "We are also adopting better results-based compensation policies. ... The future of the New York Post is very bright, and these changes will make us an even stronger, more competitive force in the marketplace."
Despite his optimism, Angelo has something of a herculean task before him. It's no secret the Post hemorrhages cash (as much as $110 million a year, according to one recent estimate), but nevertheless continues to be subsidized by Murdoch's love of newspapering and the influence it once bought him in New York power circles.
But with the Post and the rest of New Corp's publishing assets about to break off from the lucrative entertainment titles that have long cushioned them in quarterly earnings reports, there's more pressure than ever to shore up the bottom line. And there's been speculation that Murdoch may once and for all take an ax to the financially-troubled tabloid, whose employees have been bracing for a possible downsizing after the News Corp. split goes into effect this summer.
For his part, Angelo appears to be getting creative with new money-making schemes: The Post recently debuted a headline-themed bus tour ($49 for the two-and-a-half-hour joyride). And its forthcoming web overhaul, helmed by New York digital darlings Hard Candy Shell, will presumably create additional revenue opportunities as well.
In the meantime, here's Angelo's memo on the re-jiggered sales structure:
As you all know, The New York Post offers advertisers an extraordinary reach and value proposition they cannot find anywhere else. Our print readers represent a highly desirable audience in the most important and influential city on earth. And our powerful national digital footprint is poised for tremendous growth and continued impact. The Post is an iconic, one-of-a-kind product that provides a great environment for reaching a large and engaged audience.
One of my key objectives when I took over as publisher was to modernize our work processes and improve our organization. I want to free up the sales force from unnecessary bureaucracy so they can do what they do best – sell. In addition, I want to more closely align them with our sales marketing and digital teams so we are better positioned to provide advertising partners with innovative solutions across all of our platforms – print, digital, mobile and social.
Accordingly, today sales marketing and digital ad operations are being moved directly into the sales department to create a more integrated team. This will also free up the rest of the marketing department to be completely focused on a bolstered consumer marketing effort. In addition, the feedback you all gave us during the past few weeks made clear that we need a less tiered sales structure. To that end, we are reconfiguring some managerial roles to flatten our organization. We are also adopting better results-based compensation policies.
As part of this reorganization, nine positions have been eliminated in telesales, marketing and promotions, and advertising sales. Those affected have already been informed. We are very appreciative of their efforts on behalf of the Post and in order to assist them with their transition, we have provided each of them with severance packages reflective of their years of service.
The future of the New York Post is very bright, and these changes will make us an even stronger, more competitive force in the marketplace. I will continue to do everything I can to make us more successful each and every day – and I expect the same from all of you.
All AEs and SAEs please report to the Sidney Nolan Room on the 3rd floor of 1211 at 10:30am so we can discuss in greater detail and answer any questions. All ACs and AAs please report to the same place at 11am. The telesales and classified ops team please meet in Howard’s office at 11:30am. Department heads from finance and marketing will arrange meetings at 10:30am at 1185.