 Joshua James |
Valence Media has made an investment in news startup Zig, joining such previous investors as Live Nation, former Vanity Fair editor Graydon Carter, Universal vice chair Ron Meyer and Quincy Jones. Zig, which was launched earlier this year, offers users a personalized news feed, incorporating content from such providers as the New York Times, CNN, TMZ and People magazine. It can be accessed either by website or mobile app. Zig CEO Joshua James says that the app, which had just 48 users at launch, now has an audience of over 1 million users. Valence Media was launched in February, merging the Billboard-Hollywood Reporter Media Group, dick clark productions and television and film studio MRC.
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BizBash, a trade media company that focuses on event and meeting professionals, is bringing back the print magazine it killed in 2016, starting with its 2018 Holiday/Fall Venues issue. In addition to the relaunched magazine, the company has a digital presence that includes a podcast, an augmented-reality app and a website. BizBash CEO and founder David Adler says that print offers a welcome contrast to what he calls the “chaotic mess” of the online world. “Our new print issue brings to life a trend we have seen in the event industry over the past few years—people are craving offline, in-person, real life experiences,” he said.
 Clifford Levy |
New York Times Metro section editor Clifford Levy told staffers in a memo last week that “engaging readers (and listeners and viewers) on our digital platform” has become a major priority. Pursuing that engagement is leading the section to take a look at the approach of its current staffers to determine “the extent to which Metro’s current staffing addresses those needs.” The memo goes on to says that staffers whose work and vision don’t align with the section’s new mission will be offered buyouts—if they are Guild-represented reporters and editors who have worked at the section for a least a year. The memo comes in the wake of a WWD report that said Hearst chief content officer Troy Young was in the process of evaluating the digital savvy of editors at Esquire and Harper’s Bazaar.
Trump Media and Technology Group Corp. has replaced CEO and former California Congressman Devin Nunes with Kevin McGurn, a seasoned media sales executive.
The Pittsburgh Post-Gazette is being bought by the Venetoulis Institute for Local Journalism, a nonprofit that is the parent organization of the Baltimore Banner... The British Broadcasting Corporation is axing approximately 2,000 jobs, about 10 percent of its work force... Snap, the company behind Snapchat, is also succumbing to layoff fever, announcing plans to lay off 16 percent of its employees, about 1,000 people.
CBS News Radio will go off the air on May 22, part of the axe-swinging managerial plan put into play by CBS editor-in-chief Bari Weiss... The Economist, which was first published in 1843, is changing hands. Canadian billionaire Stephen Smith has agreed to acquire a 26.9 percent stake in the publication from Lady Lynn Forester de Rothschild, her family and family foundation... Nexstar Media Group says it has closed its acquisition of TEGNA, the broadcast, digital media and marketing services company that was formed in 2015, when the Gannett Company split into two publicly traded companies.
USA TODAY brings on Jamie Stockwell as VP of news, effective March 30. Stockwell was most recently deputy managing editor of news for the Washington Post... YouTube expands its likeness detection capabilities to a pilot group of government officials, journalists and political candidates... The AP Fund for Journalism adds 50 news organizations to its local news program, bringing the total number of participating newsrooms to 100. 
Versant Media Group, the NBCUniversal cable TV spin-off, today reported its first financial results as 2025 revenues dipped 5.3 percent to $6.7B and standalone EBITDA dropped 9.1 percent to $2.2B.
