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Meredith Corp. continues to tinker with the print frequency and subscription status of several of its titles. Rachael Ray Every Day is going from a 10-issues-per-year subscription status to a quarterly journal that will only be sold on newsstands. The first issue of the quarterly is set to go on sale in January. Current subscribers to the magazine will now receive fellow Meredith title Eating Well. The company is moving in the opposite direction with Coastal Living, which is selling subscriptions again after shifting to a newsstand-only status last year. It says the move is a result of the “resounding consumer demand and success” of the newsstand edition. Meredith is also considering bringing back subscriptions for Cooking Light and Traditional Home, both of which have gone the newsstand-only route.
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Three Ohio newspapers will be going from daily publication to a three-days-a-week schedule as part of Apollo Global Management’s acquisition of Cox TV stations and newspapers, according to a report in the New York Post. The $3.1 billion deal, which was OK’d by the FCC, will require the Dayton Daily News, the Journal-News in Hamilton, OH and the Springfield News-Sun to cut their frequency as a way of getting around FCC rules banning the same owner from running a TV station and a daily newspaper in the same market. The regulation had not previously applied to Cox because the company had started Dayton’s WHIO TV station in 1949 and the rules restricting media consolidation did not go into effect until 1975.
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| Stan Duncan |
Condé Nast has named Stan Duncan as its first global chief people officer, part of a move by the company to consolidate its US and international operations. Former US chief people officer JoAnn Murray is stepping down. Duncan comes to the company from Raymond James Financial, where he served as chief human resources officer. He has also been vice president, global head of human resources for Westfield Group and held similar positions at Aramark, Sterling Chemicals and PPG Industries. His remit at Condé Nast will be to oversee areas including talent acquisition and development, HR technology, workforce planning and strategic business partnering. Condé Nast CEO Roger Lynch said that Duncan’s experience in multiple industries will aid the company “as we work to unify and develop our global team and enter our next phase of growth.”
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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