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The last print edition of ESPN the Magazine will come out in September, according to a report on TheWrap. ESPN said that the decision reflects changing “consumer habits” and that the same content would continue to be available online. The company also says that no immediate layoffs are planned. “The only change here is that we are moving away from printing it on paper and sending it in the mail, following September’s release of The Body Issue,” ESPN’s statement said. “Our data shows the vast majority of readers already consume our print journalism on digital platforms, and this approach will maximize our reach and impact. In the future, we will explore releasing tentpole collections such as Body in special, differentiated print formats.” ESPN the Magazine started up in 1998.
Amazon and Sinclair Broadcast Group may be joining forces to purchase the 21 Fox regional sports networks that Disney is auctioning off. Disney was required to sell off the RSNs as part of its acquisition of numerous Fox assets. The New York Post cites sources who say that the conservative TV station owner is looking for Amazon to provide enough cash to fill in the gap between Sinclair’s $4 billion market cap and the roughly $9 billion deal it is said to be preparing for the networks. Other potential parties to the deal include Major League Baseball, which is said to be considering a stake as a minority equity partner with Sinclair following the abandonment of its own plans to take control of the RSNs.
The Economist Group has announced that Lara Boro will become its new chief executive. She is to take up the position later this year, when current chief executive Chris Stibbs will step down. Boro comes to The Economist Group from Informa, where she is currently CEO, Informa Intelligence. She was previously CEO, International at Top Right Group (formerly EMAP) and has held senior roles at CPA Global, the Financial Times and Mondex International. The Economist Group chairman Lord Paul Deighton said that Boro “has great experience in both business-to-consumer and business-to-business information markets, and is ideally suited to leading the Group through its next phase of development.” In addition to The Economist magazine, the company’s businesses include research and analysis division The Economist Intelligence Unit.
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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