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| Kevin Delaney |
Kevin Delaney, who left his position as editor and co-CEO of Quartz in October, is joining the New York Times Opinion department, where he will lead what Times editorial page director James Bennet is calling “the department’s next big project.” Before helping to launch Quartz in 2012, Delaney was a reporter in Paris and San Francisco for the Wall Street Journal, and also served as managing editor of WSJ.com. He remains a senior advisor to Quartz. Taking the editor-in-chief slot at Quartz is Katherine Bell, who most recently served as editor-in-chief of Barron’s magazine and was previously the top digital editor at Harvard Business Review.
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| Mike Bloomberg |
Mike Bloomberg is on track to become the biggest buyer of advertising in the history of U.S. presidential campaigns. A Politico report from last week said that the former New York City mayor has already spent over $120 million since declaring himself a candidate in November. The ad buys include $13 million each in California, Texas and Florida. “We’ve never seen spending like this in a presidential race,” Jim McLaughlin, a Republican political strategist who worked as a consultant for Bloomberg’s mayoral bids, told Politico. “He has a limitless budget.” Bloomberg’s advertising bill is more than twice the amount of all other Democratic candidates, with the exception of fellow billionaire Tom Steyer, who has shelled out $83 million.
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Comcast is in negotiations to buy Xumo, a free, ad-supported over-the-top video app that has more than 190 content channels, according to a report in the Wall Street Journal. The potential deal comes ahead of the April launch of Comcast’s Peacock streaming service, which will reportedly offer a free version with ads as well as subscription-based options. Peacock joins an increasingly crowded field of streaming services, which includes recent entrants Disney+ and AppleTV+. Xumo was formed in 2011 by Viant Technology LLC, then known as Interactive Media Holdings. One of its shareholders is magazine and TV company Meredith Corp.
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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