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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.
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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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