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Bloomberg is launching Bloomberg UK, which is meant to compete with such British outlets as The Financial Times and The Sunday Times. The new platform will include a website, a video series on British newsmakers, a podcast and a summit on the future of British business. “Our goal is to become the main destination for business and financial news in Britain,” Bloomberg editor-in-chief John Micklethwait wrote in a piece on Bloomberg.com. Out of Bloomberg’s approximately 400,000 subscribers, more than 40 percent are outside the US, with Britain constituting its second-largest market. Micklethwait and Bloomberg chief executive M. Scott Havens said Bloomberg plans to hire dozens of new journalists to staff up the unit.
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| Nathan Lump |
National Geographic Media signs up Expedia Group global head of editorial and entertainment Nathan Lump as editor-in-chief, effective June 6. Before coming to Expedia in 2019, Lump held positions at such publications as Travel + Leisure, Condé Nast Traveler and the New York Times. In his new role, Lump will manage the content strategy of the company’s editorial team. He will also focus on extending the reach of Nat Geo Media’s storytelling across The Walt Disney Company and its customers. Disney is a majority partner in the company, with the National Geographic Society holding a 27 percent share. Lump’s “tremendous wealth of experience in leading global editorial organizations, his deep understanding for what makes a story best in class, data-driven approach to addressing consumer needs and commitment to journalistic integrity make him the ideal candidate,” said Nat Geo Media executive vice president and general David Miller.
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My Code, a digital media platform that allows advertisers to invest in minority-owned and led publishers, creators, and producers, acquires a majority ownership interest in Hispanic news and information company Impremedia. Imprendia CEO Iván Adaime will continue to lead the company’s media brands, which include Spanish-language papers La Opinión, El Diario, La Raza and La Opinión de la Bahía, along with a portfolio of digital media outlets and lifestyle brands that reach 35 million users each month. All of Impremedia’s employees have been asked to continue with the company. “Combining Impremedia’s iconic media properties, burgeoning digital brands and significant daily role in the lives of the Hispanic community with My Code’s platform, resources and enormous audiences, will supercharge the ability to connect, inform, support and engage in this vital space,” said My Code CEO and founder Parker Morse.
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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May 15, 2022, by Joe Honick
Speaking of the Financial Times, one of my favorites, they publish something for the wealthier of their readers and entertainment of those who wonder what the other side does. The magazine is called HOW TO SPEND IT. Yep that's it, and this weekend's issue offers a major spread titled WHO WANTS TO BE A BILLIONAIRE....and its devoted to who helps the gazilionaires to avoid feeling guilty. They are called "Wealth Therapists."
So next time you try to stretch your bucks, extend a moment of caring for those listed in the Pandora Papers.