Arianna Huffington has inked a four-year deal to remain at the helm of The Huffington Post following the acquisition of its AOL parent by Verizon.
She told staffers that after huddling with AOL chief Tim Armstrong and Verizon brass she's convinced that HuffPo will maintain editorial independence under new ownership and receive backing to fund the push into mobile and video.
Huffington is keeping her eye out for "smart acquisitions and strategic investments to add top talent and cutting edge technologies to her operation.
Verizon is taking over AOL via a $4.4B deal.
There has been speculation that Verizon would jettison HuffPo. The site's liberal bent, doesn't appear to mesh well with corporate-oriented Verizon, which was attracted to the deal by AOL's ad technology savvy.
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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