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Hearst is chopping 145 heads at newly acquired Rodale, publisher of such titles as Men’s Health, Women’s Health, Prevention and Bicycling. The New York media combine finalized the $220M Rodale deal on Jan. 2. Hearst notified local officials in Emmaus, PA, Rodale’s home base, and the Pennsylvania Department of Labor on the layoffs in a letter dated Jan. 11. All but one of the laid off employees will work through March 10, and Hearst assumed responsibility for pension and severance payments, sources said. In addition to the 145 people losing their jobs, Hearst will also get rid of the Rodale name.
 Sheryl Sandberg |
Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey are leaving the board of the Walt Disney Company, a statement from Disney said on Friday. The reason for the departure is the increasing level of conflicts of interest between the companies. As traditional cable becomes less popular, Disney has shifted its focus toward online delivery of its content, setting itself up as a competitor to Twitter and Facebook, which are also trying to attract audiences to video content on their platforms. "Given our evolving business and the businesses Ms. Sandberg and Mr. Dorsey are in, it has become increasingly difficult for them to avoid conflicts relating to Board matters, and they are not standing for re-election," the statement from Disney said.
 Lizzie Crocker |
Lizzie Crocker has left The Daily Beast after plagiarism allegations against her were confirmed by the site, according to a report on The Wrap. In a piece entitled “How Katie Roiphe Became Feminism’s Nemesis-in-Chief,” Crocker lifted a considerable amount of copy from an article on the same topic written by Alice B. Lloyd for the Weekly Standard. Both articles addressed the controversy surrounding an upcoming article written for Harper’s Magazine by Roiphe which was allegedly going to reveal the author of the “Shitty Media Men” list that has been making the rounds of the publishing and entertainment industries. Moira Donegan, the list’s creator, revealed her identity in a piece for The Cut. The issue first came to light through a series of Twitter posts by Thomas Chatterton Williams, a contributing writer for the New York Times Magazine, which showed several examples of Crocker using Lloyd’s material. “We take plagiarism seriously, and will not allow the hard-earned trust we’ve built with our millions of loyal readers to be compromised,” Daily Beast editor-in-chief John Avalon said in a statement to The Wrap. A notice on the site tells readers “The story published about author Katie Roiphe violated The Daily Beast’s Code of Ethics and Standards and has been removed.”
Trump Media & Technology Group today reported a $58.2M net loss on $4.1M in 2023 revenues, a disclosure that drove its stock price down 22.6 percent to $47.96.
Barry Pollack, an attorney at Wall Street’s Harris St. Laurent & Wechsler, has registered Julian Assange as a client with the Justice Dept. “out of an abundance of caution.”
Paramount Global to slash 800 jobs in what chief executive Bob Bakish calls part of an effort to “return the company to earnings growth"... Rolling Stone editor-in-chief Noah Shachtman is exiting at the end of the month due to disagreements with chief executive Gus Wenner over the direction the magazine is taking... The New York Times broke the $1 billion barrier in annual revenue from digital subscriptions in 2023... Press Forward is investing more than $500 million to strengthen local newsrooms.
The majority of news articles are read within the first three days of publication, according to a recent report.
The Los Angeles Times gives pink slips to 115 people or 20 percent of its newsroom staff... TIME is also laying off about 30 employees, which is approximately 15 percent of its editorial staff... The Baltimore Banner, which was launched by Stewart Bainum in 2022 after he failed to buy the Baltimore Sun, added 500 subscribers per day in the three days following Sinclair Broadcast Group's deal to purchase the Sun.
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