Fox Entertainment Chief Steps Down
Kevin Reilly is stepping down from entertainment helm at Fox Network as ratings of the 21st Century Fox unit decline, driven by the slumping “American Idol.”
In charge since 2007, Reilly is responsible for “Brooklyn Nine-Nine,” “The Following,” and “Glee.”
Idol, which once average more than 30M viewers, is down to the 10M mark due to aging of the audience of the show.
Peter Rice, chairman of Fox Networks Group, will take over for Reilly on a temporary basis after he leaves at the end of June.
In a statement, Rice lauded Reilly’s “indelible creative gift and passion for talent,” which left “an indelible mark” on property controlled by Rupert Murdoch.
Prior to Fox, Reilly was president of NBC’s entertainment arm, where he ushered in “The Office,” “30 Rock” and “Friday Night Lights” into its line-up.
SIM Cuts Staff
Source Interlink Media is closing a dozen magazines and trimming staff at its leading titles such as Automobile.
About 100 staffers will be sliced from SIM’s ranks.
Titles such as Popular Hot Rodding, Mud Life and Camaro Performers are being eliminated with content absorbed into the Los Angeles-based publisher’s other specialty titles.
SIMS is being rechristened as TEN: The Enthusiast Network.
Scott Dickey, CEO, assumed the driver’s seat of the company earlier this year.
New York-based hedge fund Golden Tree Asset Management owns the operation, which also publishes Motor Trend, Hot Rod and Surfer.
WSJ's Hilsenrath Reports to Fox
Wall Street Journal chief economics correspondent Jon Hilsenrath has signed on as a contributor to Fox Business Network and Fox News Channel.
Hilsenrath covers the Federal Reserve and economics for the Journal and previously was markets editor. He joined the Journal in 1997 after a stint as finance reporter for Knight-Ridder Financial News and freelancing for the New York Times and Time magazine.
Merkel Tops Forbes' Powerful Women
German Chancellor Angela Merkel tops Forbes' 10th annual World's 100 Most Powerful Women list, her fourth straight year atop the ranking. Federal Reserve Chair Janet Yellen checks in at No. 2 and Melinda Gates, Brazil President Dilma Rouseff, IMF chief Christine Lagarde round out the top five.
Embattled General Motors CEO Mary Barra landed at No. 7. Other luminaries include Hillary Clinton (6), Michelle Obama (8), Sheryl Sandberg of Facebook (9) and IBM CEO Virginia Rometty.
Nat'l Post Gets Female Lead
Anne Marie Owens was named editor of Canada's National Post, the first woman to hold the top editorial slot at a Canadian newspaper.
Owens joined the post at its inception in 1998 as a national reporter and moved through the editorial ranks to managing editor of news. She left three years ago for the deputy editor slot at Maclean's magazine.
She takes the top slot on June 9.
Postmedia Network of Toronto owns the paper.
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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