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Hightimes Holding, the publisher of High Times magazine, warned shareholders in its most current SEC filing that the company may have to shutter the 45-year-old publication. Citing “recurring operating losses, net operating cash flow deficits, and an accumulated deficit,” the filing says there is “substantial doubt” that High Times will be able to publish for another year. According to the New York Post, the company has engaged Toronto-based Lazer & Lazer to help it find a new backer that can help resolve $105.2 million in debt. It reported a net loss of $11.9 million for the six months ended June 30. High Times is not the only cannabis-focused media outlet to be having difficulties. Online platform Civilized Life laid off its staff in anticipation of its purchase by analytics company New Frontier Data, and social network MassRoots went offline recently, after reporting a net loss of $774,638 for the second quarter.
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The Pulitzer Prize Board is adding a new category, audio reporting, for its 2020 awards. The new prize will recognize “a distinguished example of audio journalism that serves the public interest.” Producers of radio programs and podcasts will be able to submit entries for awards consideration, in addition to US newspapers, magazines, wire services and online news sites that publish regularly. “The renaissance of audio journalism in recent years has given rise to an extraordinary array of non-fiction storytelling,” said Pulitzer administrator Dana Canedy. The board will start accepting nominations for the new award, as well as for those in the other 14 journalism categories, on Dec. 16, with a deadline of Jan. 24, 2020.
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| Jane Bradley |
The New York Times has hired Jane Bradley to be its new UK investigative correspondent, based in London. Bradley comes to the Times from BuzzFeed, where she was a member of the platform’s investigative team. At BuzzFeed, she was the lead reporter on a six-part investigation into allegations of bullying and sexual misconduct against the self-help guru Tony Robbins, as well as being a Pulitzer finalist as part of a team that investigated a string of mysterious deaths of Russians in London. Bradley was previously a producer at the BBC. She will start at the Times in early January.
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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