Call them media cuts du jour. NOLA Media Group, publisher of The Times-Picayune, on Sept. 17 announced a restructuring that will result in the loss of 28 full-time jobs and 9 part-time content staffers, or 21 percent of the company’s content operation.
A statement by NOLA Media Group President Ricky Mathews, regarding the staff cuts, struck a decent tone: “It's a difficult day for us and our colleagues who are losing their jobs," he said. "We wish them the very best. Aligning our costs with the business realities faced by media organizations around the country is a tough challenge. But it's also important for our readers to know that we remain the largest and most experienced news staff, and the most widely read newspaper and website in the area."
The newsroom restructuring creates teams dedicated to metro and state politics, business and criminal justice; establishes a new metro reporting team assigned to cover education, health care, the environment and other quality of life issues, as well as topics of interest across the city and suburbs.
For communicators, the cuts will mean there will be fewer reporters and editors at the Times-Picayune to pitch, of course, but the subject matters covered by the publication will be in sharper focus, with more PR opportunities via digital and social channels.
Indeed, like most every traditional publisher, NOLA is boosting expenditures for its digital platforms, as print media continues its gradual, yet steady decline.
Since 2012, NOLA.com has increased its average daily readership by 74 percent and now reaches more than 700,000 followers on Facebook, Twitter and Instagram through its social media channels, Mathews said.
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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