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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 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.
