Media Roundup: CNN to Debut Instream Commercials at Inauguration, Star Tribune Declares Bankruptcy, and More

CNN to debut instream commercials during inauguration — In anticipation of a record online audience for inauguration, CNN will add 30 and 60 second commercials during online streaming coverage. Currently, CNN only shows a single preroll advertisement before the stream begins. [Source: Beet.TV]

Star Tribune declares bankruptcy — After talks between management and the newspaper guild stalled, the Minneapolis Star Tribune has filed for reorganization under Chapter 11 bankruptcy. The paper was purchased by Avista Capital Partners, a private equity firm, in 2007 for $530 million. Since then, the paper has made $50 million in cuts. [Source: Editor & Publisher]

95 percent of all music downloads are stolen — According to the music industry’s international trade group, 95 percent of all music downloads are stolen, equaling roughly 40 billion tracks. However, the industry saw a 25 percent growth in digital music sales totaling $3.7 billion. [Source: All Things Digital]

Globe announces cuts — The Boston Globe is seeking 50 staffers to take buyouts. Both management and guild members are eligible, and if the paper is unable to find 50 volunteers it will resort to layoffs. The Globe’s parent company, The New York Times, has been downsizing in an effort to counteract falling ad revenues. [Source: Editor & Publisher]

Gannett may drop AP — Gannett has announced a pilot program that will swap out Associated Press stories for USA Today equivalents. If Gannett were to drop the AP, it would have to wait two years before it could end the content sharing agreement. Gannett has stated that ending its distribution deal will save the company “one million dollars per year across Gannett properties.” [Source: MediaWeek]

Chinese media companies looking to move oversees — China’s state controlled media giants are attempting to acquire oversees companies in an effort to improve the country’s image abroad. China’s media companies, which operate under government censorship rules, are awash with cash as the country’s advertising market soars along with its economy. [Source: New York Times]

CS Monitor to trim staff — A few months after it announced it would end print publication, the Christian Science Monitor will layoff seven percent of its 90 editorial staff. Half of the layoffs have already occurred through attrition, while the other half should be fulfilled through voluntary buyouts. [Source: Boston Globe]

Eidos in buyout talks — UK game maker Eidos Interactive is in buyout talks with several companies, most notably Warner Brothers. The maker of Tomb Raider has been seeking a buyer for several weeks. [Source: Joystiq]