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| Mike Bloomberg |
Bloomberg News is suspending its editorial board following Mike Bloomberg’s announcement of his entrance into the 2020 presidential campaign. The site is suspending all unsigned editorials for as long as Bloomberg remains a candidate. David Shipley and Tim O'Brien, executive editors of Bloomberg Opinion, are taking leaves of absence as they join the campaign. “Members of the editorial board will write and edit in other capacities within Bloomberg Opinion,” said Bloomberg News editor-in-chief John Micklethwait. He also said that Bloomberg would "continue our tradition of not investigating Mike (and his family and foundation) and we will extend the same policy to his rivals in the Democratic primaries."
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| Derek Jeter |
The Players’ Tribune, the website which was founded by ex-New York Yankee Derek Jeter and features first-person stories from professional athletes, has been acquired by Minute Media, an Israel-based digital publishing platform. According to a post from Jeter on the site, he will remain involved in its operations, maintaining his seat on its board of directors. “We will continue to operate independently,” he said, “powered by Minute Media’s technology and global scale.” Minute Media is behind such sites as the entertainment-focused 12up.com; esports-centered DBLTAP.com and 90min.com, which covers soccer. It also acquired sports site the Big Lead from Gannett earlier this year and purchased mentalfloss.com last year. The Wall Street Journal reports that the company has raised $116 million from such investors as Goldman Sachs and Battery Ventures, though it is not yet profitable.
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Condé Nast is getting rid of the non-recyclable plastic wrapping it uses for magazine subscriptions and newsstands. The move is part of a pledge the company has made as part of its participation in the Ellen MacArthur Foundation New Plastics Economy Global Commitment. Condé says it started to remove the plastic wrapping this year and plans to do the same for all its US publications in 2020. The company’s goal is to totally eliminate the use of plastics or to replace it with recycled and bio-based alternatives. Condé Nast has also signed on to the UN Fashion Industry Charter for Climate Action. According to industry website Packaging Gateway, the company said both of those partnerships are part of an overall drive to push higher standards and systemic change in addressing climate change.
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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