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Vox Media acquires Cafe Studios, the podcast-focused publisher co-founded by former U.S. Attorney for the Southern District of New York Preet Bharara. Cafe Studios is Vox Media’s fourth recent merger or acquisition. It has picked up film, television, audio and production studio Epic and commenting platform Coral, as well as merging with the publisher of New York magazine. Bharara and Tamara Sepper, who serves as the executive producer and head of content, will join Vox Media along with a team of podcast hosts, producers and product developers. Cafe will operate as a division of the Vox Media Podcast Network, continuing to produce its active slate of shows, with new shows in development this year. “Bringing Cafe into the Vox Media Podcast Network is aligned with our goal of delivering high-quality editorial content at scale and providing audiences highly relevant voices and insights,” said Vox Media chairman, CEO and co-founder Jim Bankoff.
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| Alessandra Galloni |
Reuters names Alessandra Galloni editor-in-chief, the first female leader in the company’s 170-year history. Galloni, who has been global managing editor at Reuters since 2015, succeeds Stephen Adler, who is retiring. She will work from the company’s London office. After beginning her career at Reuters’ Italian-language news service, Galloni was a reporter and editor at the Wall Street Journal for 13 years. She takes the helm as parent corporation Thomson Reuters searches for ways to lower costs and raise revenues. Though Reuters News made $73 million in pretax profits in 2020, it was deemed “a drag on the growth of the company” by Bank of America analyst Gary Bisbee. The division accounted for about 10 percent of Thomson Reuters’ total $5.9 billion in revenues.
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| Subha Barry |
Bonnier Corp., which publishes magazines including Working Mother, Yachting and Sailing World, launches Seramount, a diversity, equity and inclusion platform. The platform, which currently provides DE&I services to more than 400 corporate brands, is the result of the merger of Working Mother Media, Diversity Best Practices, Culture@Work and the Working Mother Research Institute. It is led by Subha V. Barry, who was previously president of Working Mother Media and has also served as global head of diversity at Merrill Lynch. “By leveraging all of our capabilities, we will help our clients as they lead the way to a new bottom-line driving business priority—to make belonging a baseline at every stakeholder touchpoint,” said Barry.
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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