The New York Observer, owned by Donald Trump’s son-in-law, Jared Kushner, has gone completely online after 30 years with a print edition. It is also removing “New York” from its name.
Joseph Meyer, chairman and CEO of Observer Media, said the change recognizes that the paper now has more of a national audience and is also due to the decline in print advertising that has caused downsizings in other newspapers.
The Observer’s story noted that the Wall Street Journal is ceasing publication of its Greater New York section Saturday “as a result of widespread cuts at the paper.” It said The New York Times has announced a new round of layoffs.
A Nov. 7 NYT story said “the paper-and-ink branch of the news industry has recently seen a print advertising plunge that was ‘much more precipitous than anyone expected a year ago,’” quoting WSJ editor-in-chief Gerard Baker, as interviewed by NYT’s Jim Rutenberg.
Meyer said the decision is not related to the election of Trump.
Several freelance writers for the Observer were dismissed last week, said the Observer story. The website drew 5.6 million unique visitors in September, according to comScore.
Jared Kushner is aiding in the transition of power to the Trump administration.
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.