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| Charles Dolan |
Cablevision founder Charles Dolan is stepping down as executive chairman of AMC Networks, and will become chairman emeritus. Dolan has led the AMC Networks board ever since the company was spun off from Cablevision in 2011. His son James L. Dolan, who is also executive chairman of The Madison Square Garden Company and MSG Networks (both Cablevision spinoffs), will succeed him. When the Dolans sold Cablevision to the European telecom company Altice in 2016 they retained control of the AMC Networks and Madison Square Garden businesses. The Dolan family currently controls about 70 percent of the voting shares in AMC Networks. “The Dolans have led this company from its inception, and both Charles and Jim have provided vision, guidance and support through its long history of growth and evolution," said AMC Networks CEO Josh Sapan in a statement.
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Red Ventures, which includes such digital brands as Healthline, Bankrate and Reviews.com, says it has entered into a definitive agreement to acquire CNET Media Group from ViacomCBS for $500 million. In addition to technology news brand CNET, CNET Media Group includes ZDNet, a leader in B2B focused content and Gamespot, a games information brand, as well as TVGuide, Metacritic and Chowhound. CNET Media Group executive vice president and general Mark Larkin and his senior team will remain in place after the acquisition. "CNET Media Group has built a dynamic portfolio of brands with well-earned authority on such topics as consumer tech and gaming that play an increasingly important role in people's lives,” said Red Ventures CEO and co-founder Ric Elias. “Red Ventures is eager to invest in CNET Media Group's growth with more personalized consumer experiences that will reinvigorate CNET Media Group's brands."
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| Aya Kanai |
Marie Claire editor-in-chief Aya Kanai is leaving that position to join Pinterest in the newly created role of head of content and editorial partnerships. According to WWD, Kanai’s departure was not expected by Hearst management. Before coming to Marie Claire, she served as chief fashion director for a group of Hearst publications that included Cosmopolitan and Redbook. Kanai had only been at Marie Claire since January, when she succeeded Anne Fulenwider, who left to build a start-up dedicated to women’s health. Sally Holmes, currently Marie Claire's digital director, will be taking over from Kanai. Holmes was previously executive editor at Elle.com.
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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