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Axel Springer, the German media company that also owns such US-based properties as Politico, Insider and Morning Brew, is looking to get out of the print business altogether. Mathias Döpfner, the company’s chief executive, said in note to staffers that print versions of the company’s newspapers (which include Europe’s biggest-selling tabloid, Bild) would be eliminated in coming years. “Journalism on printed paper will no longer exist at some point—our printed newspapers will also cease to exist,” Döpfner said. He added that artificial-intelligence products would take over from the some of the company’s journalists. This all comes as Axel Springer posts positive financials. The Wall Street Journal reports that in 2022 the company’s sales jumped 13 percent to €3.9 billion ($4.2 billion).
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TikTok unveils what it says is an attempt to cut back the amount of time that teens spend on the platform. Under the plan, all TikTok users under 18 will have their accounts default to one-hour-per-day screen time limit. There is a way around that barrier, however. When those users hit the 60-minute barrier, they will simply need to enter a passcode to extend their time on the app. Once they hit the 100-minute mark, they will be prompted to select a daily screen time limit for themselves. The company has also made some changes to the app’s Family Pairing feature that will allow parents to filter out video with certain words or hashtags, set a custom daily time limit for their teen, and mute TikTok notifications sent to their teen.
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| Jesse Angelo |
Vice Media global president of news & entertainment Jesse Angelo is following former CEO Nancy Dubuc out the door. Angelo, who was publisher and CEO of the New York Post before coming to Vice in 2019, is starting up his own company, Checker Media, which will develop and fund original intellectual property and consult with companies on creative projects and products. Vice chief financial officer Bruce Dixon and chief strategy officer Hozefa Lokhandwala are now co-CEOs of Vice Media Group, and chief operating officer of news and entertainment Cory Haik is leading efforts across the company’s content divisions. According to the Hollywood Reporter, Vice is looking into strategic alternatives for the company, which could include a sale or further investment.
Trump Media and Technology Group Corp. has replaced CEO and former California Congressman Devin Nunes with Kevin McGurn, a seasoned media sales executive.
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.
