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| Chris Cuomo |
Chris Cuomo, who was fired in December by CNN, is heading back to prime time. NewsNation, which is owned by Nexstar Media Inc., and bills itself as "America's source for unbiased news," is bringing back former NY governor Andrew Cuomo's little brother to host a program set to launch this fall. Chris Cuomo was let go by CNN for counseling his brother as he dealt with the sexual harassment claims that brought his administration down. He subsequently sued CNN for $125 million in damages, claiming that the network used him as a "scapegoat." In Nexstar's announcement of Cuomo's hire, president of networks Sean Compton said that he "will further our efforts to continue to ensure fairness and transparency in our news reporting and talk shows."
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Vox Media is laying off 39 employees, according to a company memo obtained by Axios. In the memo, Vox Media CEO Jim Bankoff said that number accounts for "under 2% of the company." Vox is also slowing down hiring and reducing non-essential expenses. The layoffs affect employees in sales, marketing, recruiting and certain editorial teams. The cuts will not affect New York magazine, which is owned by Vox. Other Vox properties include Eater, Recode, Thrillist and SB Nation. Earlier this year, Vox acquired Group Nine Media, adding several hundred employees to the company.
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The nonprofit news sector is steadily growing. The Institute for Nonprofit News reports that 135 nonprofit news outlets launched between 2017 and 2021, up from 69 between 2012 and 2016. The 2022 INN Index Report finds that smaller, local news organizations are driving much of that growth. While two out of 10 nonprofit news organizations were local in 2017, that percentage rose to four out of 10 by 2021. The Report estimates that by 2024, local outlets will make up the majority of nonprofit news organizations. In addition, two-thirds of nonprofit news organizations reported that their revenue increased from 2017 to 2021, with a median growth rate of 25 percent. Foundations accounted for the majority (53 percent) of the 2021 revenue brought in, with individual giving making up 30 percent and 15 percent coming from earned revenue. Almost a fifth (18 percent) generated total revenue of $2 million or more. INN says that the major challenges facing nonprofit news platforms in the near future include attracting and retaining diverse staffs, access to philanthropic support for smaller and emerging newsrooms, and the cultivation of market-based revenue.
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.
Trump Media & Technology Group is discussing a spin-off of the Truth Social platform following the expected closing of its $6B merger deal with TAE Technologies... Condé Nast sells off Them, the digital LGBTQ-focused platform it launched in 2017, to Equalpride, publisher of Out, The Advocate, Out Traveler, Health PLUS Wellness and Pride.com... CBS News has parted ways with longevity influencer Peter Attia, one of the 19 contributors that editor-in-chief Bari Weiss brought on as part of her plan to present a wider variety of voices on the platform. 
