The $250M-backed First Look Media news start-up has tapped Rolling Stone's Matt Taibbi to launch a digital magazine.
First Look, backed by eBay founder Pierre Omidyar, launched its first publication, The Intercept, this month with journalists including Glenn Greenwald, Laura Poitras and Jeremy Scahill.
The Taibbi-led project has not yet been titled and will launch "later this year," FLM said, noting that the writer will "bring his trademark combination of reporting, analysis, humor and outrage to the ongoing financial crisis – and to the political machinery that makes it possible."
Eric Bates, executive editor at FLM, called Taibbi "one of the most influential journalists of our time."
Taibbi, who branded Goldman Sachs a "vampire squid" in an iconic 2009 financial crisis article, has been contributing editor at RS for 10 years and previously wrote for the Moscow Times. "It’s a new golden age for reporting and it’s a real privilege to be part of this effort to create something innovative and lasting," he said.
Appearing on HuffPost Live today, Taibbi criticized journalists for not defending whistleblowers and for a lack of coverage of media surveillance. "The only reason that the press isn't generally more outraged about it -- the only think I can think of is professional jealousy, there must be some of that," he said.
The writer also penned a "Thank you" note to Rolling Stone.
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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