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The Economist is set to see the 26.7 percent share of the media company that is currently owned by the Rothschild family go up for sale, according to a report on Axios. That includes about 20 percent of The Economist’s voting shares, the cap for any single owner in the business. Philanthropist and investor Lynn Forester de Rothschild had allegedly planned only to sell a 20 percent stake in the company before deciding to put the family’s entire share on the auction block. Exor, the holding group of Italy’s Agnelli family, currently has about a 34.4 percent share of the company, with The Economist Group holding 29.9 percent. The Axios report says that advisers for the Rothschild family are already having conversations with potential buyers in the US and UK, with a major concern being that the publication maintain its editorial independence. North America accounts for the largest share (40 percent) of The Economist’s 1.25 million subscribers, followed by greater Europe (21 percent), the UK (20 percent) and Asia (14 percent). The company’s latest earnings report showed annual revenue of $495 million, with a profit margin of about 17 percent.
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| Damian Garde |
STAT, a digital media company that focuses on journalism about the life sciences, brings back Damian Garde, who anchored its biotech newsletter and podcast from 2016 to 2024. Garde returns to STAT from Bloomberg News, where he was a pharma reporter. He will assume a new role at STAT intended to strengthen its leadership in biopharma coverage and accelerate its live events franchise. As reporter at large, live and feature journalism, Garde will be tasked with conceiving, organizing and moderating STAT live events around the country; producing regular deep profiles and enterprise pieces about figures in biopharma, health and medicine; and augmenting the company’s biotech reporting. Garde was part of the STAT team that won a George Polk Award in 2022 for coverage of Biogen’s controversial Alzheimer’s drug, Aduhelm. “He's one of the most fluid and creative writers I have ever worked with, a natural on stage, and a brilliant student of biotechnology and drug discovery,” said STAT senior medicine writer and editorial director of events Matthew Herper.
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High Times officially resumes print publication (following its 2024 shutdown) with the release of a limited-edition, collectible 50th anniversary issue, helmed by new editor-in chief Javier Hasse. Hasse has served as head of content for financial news and analysis service Benzinga, as well as CEO and co-founder of Spanish-language news site El Planteo. The 50th anniversary issue features archival work from Charles Bukowski, Truman Capote, Andy Warhol and William Burroughs. In tandem with the issue, High Times announced the return of its Cannabis Cup, a cannabis competition using third-party judging and a “People’s Choice” format. Submissions open on Oct. 10, with New Yorkers across the state voting for top products in a wide range of categories.
Michael Kaminer, who was responsible for the Observer’s “Power List” for the past 13 years, has cut ties with the publication... The New York Times Company continues the march toward its goal of 15 million subscribers by the end of 2027... The John D. and Catherine T. MacArthur Foundation is providing more than $6 million in funding to eight organizations working to address the challenges local news and information environments face along the U.S.-Mexico border.
Conservative outlets Fox News, Newsmax and the Daily Caller are holding back from signing Pete Hegseth’s edict restricting press access in the Pentagon... CBS News sees the first executive departure of the Bari Weiss era as head of standards and practices Claudia Milne exits... Indiana University shuts down the print version of The Indiana Daily Student.
CBS News is set to hand over its reins to The Free Press co-founder Bari Weiss as Paramount acquires her site for $155M... C-SPAN comes on board as an official media partner of the U.S. Semiquincentennial Commission, which is charged by Congress to lead the celebration of the 250th anniversary of the signing of the Declaration of Independence... A new Gallup survey says that the level of trust that US audiences have in the media has hit a new low.
Paramount Skydance CEO David Ellison has named Kenneth Weinstein, former head of the conservative Hudson Institute, as ombudsman for CBS News.
Newsmax Broadcasting has filed a federal antitrust suit against Fox Corporation and Fox News Network in the United States District Court for the Southern District of Florida... Condé Nast names Chloe Malle head of editorial content of Vogue U.S. Malle takes over from Anna Wintour, who has held the position since 1998... NBCUniversal says the upcoming NFL season marks its highest grossing to-date when it comes to overall advertising and partnerships revenue. 
