 |
The entire editorial staff of Men’s Journal is getting the ax, according to a report in the New York Post. American Media, which has owned the publication since 2017, will be merging its editorial operations with those of the Carlsbad, CA-based Adventure Sports Network, which it acquired last year. The magazine will cut its frequency from 10 issues a year to six, and will drop its circulation from 1.25 million to 1 million. The Men’s Journal ad staff will remain in New York. An American Media spokesman told the Post that the move “ensures the continued growth and success for Men’s Journal.”
 |
Fox Corp. is looking into acquiring advertiser-supported streaming service Tubi, according to the Wall Street Journal. The Journal report says that Tubi, which claimed to have 25 million monthly active users in December, could fetch a price of more than $500 million. Fox would be the latest media company to get into the ad-supported streaming game. Before merging with CBS, Viacom picked up Pluto TV, while Comcast is said to be negotiations to buy Xumo. NBC’s Peacock streaming service also includes an ad-supported option. The ad-supported services are seen as a way for these media companies to both broaden their reach and hopefully provide an additional ad revenue stream.
 |
The California Times, the company that owns both the Los Angeles Times and San Diego Union-Tribune, announced on Feb. 19 that it is offering voluntary buyout packages to employees who have worked at the company for last two years. Staffers were told that the company is not planning for any layoffs, according to a report on CNN Business. “We need to move swiftly to make our product more digital, more nimble, and more attractive to loyal and new audiences,” a company internal memo said. “Buyouts will help us accelerate that process.” Biotech billionaire Dr. Patrick Soon-Shiong assumed control of the papers in June 2018 from Tribune Publishing (then known as tronc). Times employees voted to form a union in January 2018 and ratified their first contract in October.
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.
Have a comment? Send it to 
No comments have been submitted for this story yet.