 Leslie Moonves |
CBS has started a round of layoffs and buyouts, according to Variety. The moves are expected to impact only a few dozen employees, and to be limited to the CBS network and its syndication group. With the growth of the streaming video service CBS All Access, the news streaming service CBSN, and the upcoming launch of an ad-supported sports streaming product, CBS is increasingly moving toward digital distribution of its programming. According to CBS Corp. CEO Leslie Moonves, CBS All Access now has more than 2 million subscribers. When the streaming service for CBS-owned Showtime is added into the mix, over 4 million subscribers are receiving CBS content digitally.
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Voice of America and Radio Free Europe/Radio Liberty, as well as several of their subsidiary outlets, have been declared “foreign agents” by the Russian government, requiring them to apply the “foreign agent” label to all content they broadcast to Russian audiences. So far, the new policy has not extended to such major international outlets as CNN. Russian Senator Andrei Klimov said that the registration requirements only include “propaganda companies”—which he told RT did not include CNN. The move is a response to actions taken last month by the U.S. Department of Justice against Kremlin-supported RT America and Sputnik. The two Russian media outlets complied last month with a U.S. request to register as foreign agents under the Foreign Agents Registration Act, following a January report from American intelligence agencies that the Russians were using RT America “to undermine faith in the U.S. government and fuel political protest.”
 Brian Sullivan |
Brian Sullivan has been promoted to president and chief operating officer of Fox Networks Group. He succeeds Randy Freer, who was named CEO of Hulu last month. Sullivan has served as president of Fox Networks’ digital group since 2015. Before that he was CEO of Sky Deutschland and managing director, customer group at Sky UK. At Fox, Sullivan will be head of revenue and distribution for the TV group that encompasses Fox Broadcasting, FX Networks, Fox Sports, National Geographic Partners, and Fox’s international channels group. He reports to 21st Century Fox president Peter Rice. “Brian is an incredibly talented executive and has been instrumental in leading the direct to consumer efforts across our brands,” said Rice. “His proven expertise in building digital video consumer products has made him an invaluable part of our senior leadership team.”
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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