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CNN has pulled the plug on "Reliable Sources with Brian Stelter." The show’s last episode will be this Sunday. Stelter, who came to CNN from the New York Times in 2013, will be leaving the company. In addition to his on-air duties at CNN, Stelter served as a media writer for CNN.com. He also hosted a podcast and frequently wrote and oversaw a daily "Reliable Sources" newsletter with his fellow media reporter Oliver Darcy. The CNN digital media team and Reliable Sources newsletter will continue with Darcy leading the newsletter. CNN chief Chris Licht has been making cuts throughout CNN since taking the helm as part of Warner Bros. Discovery's takeover of the old Time Warner company.
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| Eric Caballero |
Conservative media outlet The Daily Wire brings on Walt Disney Company veteran Eric Caballero as chief marketing officer. Caballero, who was previously a vice president in Disney’s media and entertainment distribution group, will oversee all marketing for the company, which is expanding into the entertainment business. The Daily Wire is committing $100 million to produce family-friendly content. “Companies like Disney have betrayed their family-friendly and pro-America audiences because of outsize influence from activist shareholders and employees, leaving money and opportunity on the table in the process,” said Daily Wire co-CEO Jeremy Boreing.
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Cineworld Group, which owns the Regal Cinemas chain, the second-largest in the world, is planning to file for bankruptcy, according to a report in the Wall Street Journal. The company said that despite a recovery from the sharp drop in attendance caused by the pandemic, recent admissions have not met expectations, which it blames on a limited film slate. The WSJ report says that Cineworld is negotiating with its lenders to fund the bankruptcy process. Cineworld acquired Regal in 2018 for $3.6 billion.
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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Aug. 22, 2022, by Joe Honick
Re The Daily Wire...it is probably now the best financed and most powerful of the right wing media working. It used to be we'd find only the name of Ben Shapiro there, but now this online operation takes no letters to the editor. With the reported $100 million should have come a source for all that money instead of just saying it's using that kind of dough to expand. From the right wing stuff it's putting out, it would also appear to have some efficient PR help that would be interesting to divulge.
There are stories to be told about how the right wing is producing and financing at least a dozen media, almost all with the same "sponsors" or advertisers even including Musk with some automobile gimmick.