 Steve Bannon |
Steve Bannon is leaving Breitbart News in the face of major blowback from remarks about the Trump family that he allegedly made. The comments, which appear in Michael Wolff’s “Fire and Fury,” include referring to Donald Trump, Jr., as “treasonous” and “upatriotic,” and to Ivanka Trump as “dumb as a brick.”
According to the New York Times, Bannon’s exit was engineered by Republican donor Rebekah Mercer, a major contributor to Breitbart. Bannon had served as executive chairman of the network since 2012.
In a story on the Breitbart website, it says that “Bannon and Breitbart will work together on a smooth and orderly transition.”
The story also quotes Bannon as saying: “I’m proud of what the Breitbart team has accomplished in so short a period of time in building out a world-class news platform.”
Breitbart CEO Larry Solov said that “Steve is a valued part of our legacy, and we will always be grateful for his contributions, and what he has helped us to accomplish.”
That’s considerably more complimentary than the comments his other former boss, Donald Trump, has made about him. “Steve Bannon has nothing to do with me or my presidency,” the President said in a statement last week. “When he was fired, he not only lost his job, he lost his mind.”
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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