The Onion published its final print edition Dec. 12, "lauding" the power of print media across its front page while forecasting digital media's rise "still another 70 or 80 years away."
Onion vice chairman Douglas Siegfried Zweibel released a statement noting that Onion print revenues accounted for nearly 45% of national GDP this year, making the paper the "vanguard of the burgeoning Print Media Revolution."
Zeibel declared that that Onion print edition " shall never die, shall never be rendered obsolete, shall never fall prey to a sudden and irreversible shift in the global media marketplace, and shall always be there, every week, until humanity itself has, God willing, passed from the cosmos."
The satirical newspaper's final main story touts the paper's 5,000% jump in print revenues, while every story, including the weather box, pumps up newspapers and print media.
The Chicago-based Onion, which had curbed print distribution to only three cities from a height of 17, said last month that it would cut its print edition after a 25-year run, citing ad declines, in a bid to concentrate on its digital properties.
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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