By: E&P Staff William Dean Singleton, CEO of the MediaNews Group, which owns the Denver Post, San Jose Mercury News and numerous other papers, wants 20 percent of sales to come from the Web in five years, up from 7 percent now, he informed told employees in a memo on Thursday.
To achieve that, Media News will create Web sites separate from its 57 daily newspapers to attract younger readers, President Joseph Lodovic said yesterday in an interview with Bloomberg News.
"We have to find ways to grow revenue or become more efficient by eliminating fixed costs,'' Lodovic said. ``Why does every newspaper need copy editors? In this day and age, I think copy-editing can be done centrally for several newspapers.'...
"The Internet is a small piece now, but obviously it's growing at a faster rate than the print side,'' Lodovic said. ``The print side is struggling right now. Some of that is cyclical and some of that is not, but in the next five years we don't see print growing.''
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