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| Timothy Knight |
Tribune Publishing CEO Timothy Knight is heading out the door, and will be replaced by company chief financial officer Terry Jimenez. Knight joined Tribune Publishing as president in 2017 and was named CEO in January 2019 following the departure of Justin Dearborn. Jimenez, who came to the company from IBM in 2016, has also served as president of Newsday Media Group and controller at the Chicago Tribune. Alden Global Capital, a New York hedge fund known for extreme cost-cutting and layoffs at newspapers it acquires, purchased a 32 percent stake in Tribune in November. Following that investment, two Alden representatives were added to the company’s board. In a Feb. 3 memo to Tribune employees, Knight said that the company needs to realign its costs “to the current revenue reality.” Tribune Publishing reported revenue of $236 million in last year’s third quarter, down from $255.8 million for the same period in 2018. On Jan. 13, the company offered its latest round of voluntary buyouts to staffers, with any staffer with eight or more years of service being eligible.
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HOLA!USA, which targets affluent U.S. Latinas, is discontinuing its print operations in favor of focusing its attention on the digital and social media spaces. The brand, which offers its content in both English and Spanish, also plans to expand its existing platforms, which include social media channels and the HOLA.com sites, by launching a YouTube channel and dedicated podcast later this year. It will also make additional hires in digital, e-commerce, video production and social. HOLA!USA says its online audience is 80 percent female, with an average age of 32 and HHI of $85,000 per year. Spanish company HELLO! & ¡HOLA! Media, Inc. currently publishes 29 international editions in 10 languages across five continents.
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| George Cheeks |
ViacomCBS has appointed George Cheeks president and CEO of CBS Entertainment Group. Cheeks replaces Joe Ianniello, who became acting CEO following the exit of Leslie Moonves in 2018 in the wake of sexual harassment charges. Cheeks comes to CBS from NBCUniversal, where he was most recently vice chairman, NBCUniversal Content Studios. Before coming to NBC, Cheeks was executive vp, business affairs and general counsel for Viacom Music and Entertainment Group and also served as head of standards and practices for Viacom Media. Ianniello had long been Moonves’ top deputy, and aided the former CBS chief in his battle with CBS controlling shareholder Shari Redstone over control of the company. Cheeks will assume the CEO slot effective March 23.
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.
