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Tribune Publishing has put off posting its financial results for the first quarter of fiscal 2020 until June 5. The previously announced date was May 22. The company says it needs more time to assess the valuation of certain assets and determine if a non-cash impairment charge is required, primarily as a result of the COVID-19 pandemic. In the past few weeks, Tribune has made a deal to furlough all unionized newsroom employees making $40,000 or more for a week in May, June and July, and canceled a $9 million quarterly dividend it was planning to award to shareholders.
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Facebook has launched a new feature that is intended to move it further down the path toward being a major online shopping destination and offer small businesses a way to find new buyers. Facebook Shops will let businesses set up product listings on their Facebook page, Instagram profile, Stories or in ads, the company says. Also planned are options that would let businesses sell products to customers through the chat features of WhatsApp, Messenger and Instagram Direct. While Facebook has let businesses list products on Facebook and Instagram, with the new feature they can upload their catalogs once to make them accessible across Facebook’s apps. While the feature is free, Facebook CEO Mark Zuckerberg says the plan is for increased advertising by sellers to generate profits for the company. He also assures potential shoppers that the feature is secure. “We’ll also protect your privacy when you’re using this” he said in live chat posted on Facebook, “and we’re not going to share what you buy with friends or anyone else on our services without your permission.” Following the announcement of Facebook Shops, the company’s shares rose six percent, reaching an all-time high of $230.75 on May 20.
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The American Society of Journalists and Authors (ASJA) has launched the ASJA Crisis Coverage Awards: COVID-19 Edition, which will recognize professional writers for their coverage of the COVID-19 outbreak. The contest is now open, and submissions will be accepted until July 3. Writers are invited to submit English-language articles, including self-nominations, published between January 1 and June 30. Submissions must fit into one of the following categories: Business & Economy, Education, Healthcare, Mental Health, Personal Essays, Politics & Government, Science, Social Adaptation and Technology. “ASJA is proud to recognize our colleagues’ vital work as they help audiences make sense of all aspects of the coronavirus pandemic,” said Janine Latus, chair of the ASJA Crisis Coverage Awards Committee. Writers may apply for multiple categories, but cannot use the same article more than once. Articles can be submitted by visiting http://asja.org/crisis-coverage-awards-covid-19. A portion of the entry fees will be contributed to ASJA’s Writers Emergency Assistance Fund. For more information, click here.
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.
