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Sports Illustrated has shed is 35 to 40 percent of the publication’s editorial staff, following the transfer of control of SI’s operations to Maven Media Brands, according to a report in the Washington Post.
A statement from Maven management put the number slightly lower, saying that “over 74 percent of the people who worked at SI a week ago are still working at SI.”
While Maven says rumors that the laid-off employees are going to be replaced with freelancers are false, it does say that an expansion of a series of “team-specific destinations,” including 32 NFL team destinations, will be operated by “independent, third-party business that are provided access to Maven’s digital platform.”
SI, which was formerly owned by Time Inc., was one of the TI brands acquired by Meredith last year.
Meredith sold the title to brand management company Authentic Brands Group in May.
At the time of that sale, Meredith agreed to run the publication for the next two years, but the deal with Maven cut that short.
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.
