AMOROSO EXITS YAHOO!

Yahoo chairman Fred Amoroso has decided not to stand for re-election to the board of directors at the annual meeting slated for June 25. Director Maynard Webb, alum of eBay and Gateway, has taken the interim chairman slot.

Fred OmorosoCEO Marissa Mayer said she's "personally grateful" for Amoroso's "trust and guidance" as she took the helm.

Amoroso spearhead the board's effort to oust former CEO Scott Thompson last May for fudging his resume.

Business Insider reported that Amoroso is out because Mayer was not his first choice for CEO. He had supported former Fox Interactive CEO and interim Yahoo CEO Scott Levinsohn for the permanent post.

Levinsohn is now head of Guggenhiem Digital Media, parent of AdWeek, Billboard and Hollywood Reporter.

In his statement, Amoroso said it was always his intention to serve as chairman for a year.

He called Mayer a "great new CEO" who "brought on a fantastic management team, revitalized the employee base, and has begun to release top notch new products." 

McCLATCHY LOSS WIDENS

McClatchy today reported a $12.7M Q1 net loss, up from $2.1M deficit in 2011.

The Sacramento-based company blames the increased red ink mostly on an $8.1M after-tax loss on debt refinancing.

Revenues dropped four percent to $276.7M as ad sales dipped six percent to $1978.1M

CEO Pat Talamantes saw good news in the 1.6 percent uptick in circulation revenues to $67.5M.

The circulation numbers rose due to completion of the company-wide roll of the Plus Program digital subscription package.

McClatchy ended the quarter with 22K digital-only subs, which kicked in incremental revenue of nearly $6M.

Talamantes expects the Plus Program to be a key driver of revenues this quarter, though the firm will "remain vigilant in controlling costs."

McClatchy’s properties include the Sacramento Bee, Fort Worth Star –Telegram, Kansas City Star, Charlotte Observer and Miami Herald.

 SPIN GETS VIBE

SpinMedia, parent of online Spin and a raft of music and pop culture websites, has acquired Vibe, the R&B and hip-hop magazine and its online holdings.

spin vibeSteve Hansen, CEO of SM, called Vibe a "transformative force in the music landscape elevating and spotlighting urban culture."

He said Vibe has "evolved into one of the top destinations for the new urban music landscape and nicely complements our collection of genre-leading editorial communities and is an important part of our future."

Vibe bolsters SpinMedia’s urban properties that include Concrete Loop and Rap-Up.

More than a decade Spin and Vibe were part of the same company called Vibe/Spin Ventures.

Quincy Jones and Time Warner launched Vibe in 1992. It shut down in 2009 due to a declining circulation, but was revived by private equity investors.

Vibe had a print circulation of 300K for the first six-month 2012 period and its sites attracted 1.4M visitors per month.

With completion of the transaction, the print Vibe isexpected to be shut down.