Frankin Foer, editor of The New Republic, has resigned his post due to differences about the direction of the magazine with owner Chris Hughes, co-founder of Facebook.
Hughes wants to position TNR as a digital enterprise under CEO Guy Vidra, who was hired in October.
He hired Gabriel Snyder, former editor of Atlantic Wire to replace Foer.
In a staff memo, Vidra wrote the 100-year-old publication will make "significant investments in creating a more effective and efficient newsroom as well as improved products across all platforms."
TNR will make staff cuts as it scales back its printing schedule in half to 10 issues per-year and shift the bulk of its operations from Washington to New York.
Leon Wieseltier, literary editor and 31-year veteran of TNR, also has quit.
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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