Norm Pearlstine, who smashed the traditional barrier that separated the editorial and business side of the media, is stepping down from the Time Inc. vice chairman slot on July 17.
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Norm PearlstineThe 74-year-old ececutive, who served served as editor-in-chief of Time Inc. from 1995 to 2005, also worked as chief content officer at Bloomberg, senior advisor for Carlyle Group's telecom and team and managing editor of the Wall StreetJournal.
Pearlstine returned to Time Inc. following its spin-off from Time Warner to serve as chief content officer.
Rich Battista, CEO of Time Inc., praised Pearlstine's "influential leadership" and for encouraging editors to "collaborate more closely with their business side colleagues."
Time Inc. is cutting another 300 jobs as part of Battista's plan to reengineer the company's cost structure to help increase efficiency and provide funds to reinvest resources for long-term growth.
The company reported a first-quarter eight percent revenue slide to $636M, while red ink jumped to $28M from $10M.
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.
