New Yorker Tops Mag Awards
The New Yorker collected National Magazine Awards while New York trailed with three at Thursday night’s event of the American Society f Magazine Editors.
Fast Company earned the prestigious Magazine of the Year for both print and digital editions.
New Yorker earned citations in the column/commentaries, essay and criticism, fiction, feature writing categories.
New Yorker was citied for website, design and general interest.
Bon Appetit and National Geographic earned two awards.
Vanity Fair’s Graydon Carter was presented with the Magazine Editors’ Hall of Fame award. Spy founders Kurt Andersen, Tom Phillips and Carter also earned a HoF award.
Viacom Makes Splash in UK TV
Viacom is buying Channel 5 Broadcasting Ltd. from Northern & Shell Media in a deal worth about $760M.
The transaction, noted the Financial Times, is the first time that a US broadcaster would control a public service broadcaster in the competitive British television arena.
Channel 5 is the No. 5 UK public broadcaster with more than 42M viewers tuning in monthly.
Its programs include Big Brother, Home and Away, The Gadget Show, Under the Dome and Milkshake!
Viacom CEO Philippe Dauman said, “Channel 5’s momentum is indisputable, with impactful programming, increasing popularity and a growing digital channel.”
The New York based company controls more than 20 percent of branded pay-TV networks in the UK.
Viacom launched MTV in Britain in 1987, Nickelodeon in 1993 and Comedy Central in 1995.
Billionaire Sumner Redstone (90) controls Viacom.
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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