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Facebook is dropping the “Trending” section from its site next as well as the products and third-party partner integrations that rely on the Trends API (or application programming interface). While the company says the tool is outdated and unpopular, its problems extended to the onslaught of fake news as well as the limitations of artificial intelligence to manage the unpredictable flow of messages. Replacements for the section are to include a dedicated section for news videos on its video hub Facebook Watch, a breaking news icon publishers can use on their posts, and “Today In,” a section which connects people to news and information from local publishers. The company says that more than 80 news publishers are currently testing the “breaking news” label. The “Today In” feature is testing in 33 U.S. cities, and 10 to 12 U.S. publishers are planning to launch news shows in Watch. “We are committed to ensuring the news that people see on Facebook is high quality, and we’re investing in ways to better draw attention to breaking news when it matters most,” Alex Hardiman, head of news products at Facebook, said in a statement.
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Three top Hulu executives—chief content officer Joel Stillerman, senior VP of partnerships and distribution Tim Connolly and senior VP of experience Ben Smith—are leaving the company. It’s the first major executive reshuffling since Randy Freer came on as Hulu CEO in October. Hulu says it is searching for an executive to head a new content partnerships group and is eliminating the chief content officer role. Hulu’s content teams will now be organized into two groups: one encompassing live TV and subscription VOD content licensing, acquisition and business functions; and one overseeing original programming, led by SVP of content Craig Erwich. The company is also bringing on former TiVo COO Dan Phillips as chief technology officer and Jaya Kolhatkar, former SVP, global data and analytics platforms for Walmart, to the newly-created role of chief data officer. Hulu is a key part of the current negotiations surrounding the acquisition of 21st Century Fox by either Disney or Comcast
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The Wall Street Journal has named Wade Lambert senior news editor, with responsibility for all of the Journal’s evening operations. Lambert has been with the WSJ since 1984, serving as night editor for its print edition since 2013, and will now direct news gathering, publishing and platforms at night. Other roles he has taken on at the WSJ include deputy bureau chief in London, Page One news editor and deputy editor of the Greater New York section.
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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