Philadelphia-based media company Metro Corp., which publishes magazines such as Boston and Philadelphia, announced yesterday that it is cutting staff as part of a larger corporate restructuring plan “to address the changing media environment and position the company for future growth.”
Announcing the news on bostonmagazine.com, the publisher said seven full-time positions would be eliminated. (the company holds a total staff of 134.) A similar statement posted on phillymag.com confirmed that three of those cuts would come from Metro Corp.’s Philadelphia office.
Poynter yesterday reported that Boston magazine senior editor S.I. Rosenbaum was among those affected by the cuts.
As part of the reorganization, the publisher also said it would unveil a new custom publishing and native advertising platform, CityStudio. That property is expected to debut during the first quarter of 2016.
“Metro Corp. has responded boldly to the changing media landscape in the last few years, particularly with the growth of our digital and events businesses,” Metro Corp. chairman and CEO David Lipson said in the announcement. “As the world evolves, it is essential that we evolve with it. I strongly believe the changes we’re making will allow us to thrive going forward.”
Patrick Kerkstra, who joined Philadelphia as deputy editor in 2014, has been promoted to editor. Philadelphia editor Tom McGrath has been promoted to Metro Corp.’s chief content and strategy officer, and will aid with CityStudio's launch.
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.
Have a comment? Send it to 
No comments have been submitted for this story yet.