 |
Billboard-The Hollywood Reporter Media Group is unloading Spin and Stereogum, two of its music publications. The two were acquired, along with Vibe, from SpinMedia in 2016. Vibe is remaining part of the Billboard-Hollywood Reporter stable. Spin, which was founded by Bob Guccione, Jr. in 1985, has been sold to Next Management Partners, which bills itself as “a private equity firm solely focused on acquiring and scaling digital publishing and advertising technology businesses and building leadership teams.” Stereogum founder and current editor-in-chief Scott Lapatine is buying back the daily internet publication, and will serve as CEO. Valence Media, owner of the Hollywood Reporter-Billboard Media Group, let go of seven editorial staffers across Spin, Vibe and Stereogum last September.
 |
| Glenda Bailey |
Harper’s Bazaar editor-in-chief Glenda Bailey is stepping down, Hearst, the magazine’s publisher, announced on Jan. 15. Bailey, who has helmed the publication for almost 20 years, will stay on as global fashion consultant. Her move comes as Hearst president Troy Young continues to emphasize digital know-how when staffing the top position at the company’s publications. Rumored to be on the shortlist to replace Bailey, according to WWD, are Joyann King, currently the executive editorial director at harpersbazaar.com; Stella Bugbee, the editor-in-chief at New York magazine’s fashion vertical The Cut; and Kristina O’Neill, editor-in-chief at WSJ magazine and former Harper’s Bazaar executive editor.
 |
NBCUniversal unveiled its Peacock streaming service on Jan. 16. The new service will be available for subscribers to Comcast’s Xfinity X1 and Flex services on April 15 (Comcast is the owner of NBCUniversal), and it will launch nationwide on July 15. It includes two ad-supported services, Peacock Free and Peacock Premium, and will offer an ad-free option for an extra $5 per month. Peacock Premium be available to Comcast and Cox subscribers at no extra charge, and will cost $4.99 per month for other customers. Perhaps one of the new service’s biggest draws will be the live sports programming it will offer, kicking off with exclusive coverage of the Tokyo Olympics and also including soccer’s Premiere League and golf’s Ryder Cup. It will also stream NBC’s two late-night chat shows—“The Tonight Show Starring Jimmy Fallon” and “Late Night with Seth Myers”—three-and-a-half hours before they air on NBC. Also set to be offered as part of the NBC News programming on Peacock is a proposed partnership with Sky News to create an international news network.
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.
