Facing what it called "a significant decline in advertising revenues" as a result of the COVID-19 pandemic, Meredith Corp. says it's implementing sweeping pay cuts across 60% of its approximately 5,000 employees, suspending quarterly dividends and withdrawing the 2020 fiscal outlook it communicated to investors on its most recent earnings call in early February. Effective May 4 and continuing through early September, 45% of the company (approximately 2,250 staffers) will have their pay reduced by 15%, while an additional group representing about 750 of the company's highest-paid employees will see pay cuts starting at 20% and ranging up to 40% for president and CEO Tom Harty and the Board of Directors. Salaries for the remaining 2,000 or so employees will not be impacted. Additionally, Meredith says those employees whose salaries are being reduced will be given one day of unpaid leave per week until September 4. Effective immediately, the company is also implementing a wage, salary and hiring freeze as well as "a significant reduction in temporary and freelance usage." "The COVID-19 crisis has created an extremely challenging business environment, including significant advertising campaign cancellations and delays," said Harty in a statement. "While our financial position is strong, given the impact on advertising—which represents approximately half of our revenue mix—we are proactively taking aggressive actions to strengthen our liquidity and enhance our financial... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-04-20 17:45:12 UTC ]
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The native advertising programmatic gold rush is on. Following the emergence of a handful of native ad networks came yesterday's announcement that the startup TripleLift was launching a native ad exchange with several top brands and publishers. Now comes another native ad exchange—albeit this... Continue reading at AdWeek
[ AdWeek | 2014-02-12 00:00:00 UTC ]
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With a mix of all-ages and adult material, print and digital, Action Lab Entertainment is trying to establish itself while maintaining a balance with a staff located around the country. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-02-12 00:00:00 UTC ]
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Sanity has been restored to Nokia’s Lumia smartphone lineup with the release of the Nokia Icon. This Verizon exclusive pulls the best features from Nokia’s massive 6-inch phablets—the Lumia 1520 in particular—and tucks them behind a manageable, 5-inch OLED display.I purposefully seek out large... Continue reading at PC World
[ PC World | 2014-02-12 00:00:00 UTC ]
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This celebration of bookish snark, won by AA Gill for his Morrissey assault, is less daring and less worthy than it thinksIt's the middle of a wet, wet winter, unaccountably you haven't shed the pounds or learnt the cello as per the optimism of 1 Jan, and to make matters even worse, Valentine's... Continue reading at The Guardian
[ The Guardian | 2014-02-12 00:00:00 UTC ]
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Google’s Android is now the most popular smartphone operating system in the UK – so publishers can no longer just talk about iPhone and iPad apps. But despite its increasing market dominance (on mobile anyway) the Google propo ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2014-02-12 00:00:00 UTC ]
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An email to Brazilian publishers suggested that Barnes & Noble plans to start selling ebooks in Brazil soon, but B&N has yet to confirm. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2014-02-12 00:00:00 UTC ]
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LinkedIn is looking more and more like a publisher these days. The professional networking site eschews the term, but its recent moves suggest otherwise, from its Influencers blog network to its acquisition of news reader Pulse and the introduction of native advertising. (LinkedIn calls them... Continue reading at AdWeek
[ AdWeek | 2014-02-10 00:00:00 UTC ]
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Quality video ad inventory is still scarce. That's why companies such as Conde Nast, Meredith, AOL, and Entrepreneur.com are eager to generate as many video views as they possible can, and why they buy traffic from platforms like Swagbucks to help.The post When Publishers Pay for Video Ad Views... Continue reading at Digiday
[ Digiday | 2014-02-10 00:00:00 UTC ]
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Big libraries get all the attention. But in late September of 2013, the Institute of Museum and Library Services (IMLS) issued an interesting report on small and rural libraries in the United States. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-02-07 00:00:00 UTC ]
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Rupert Murdoch’s publishing arm, which owns Wall Street Journal and the Times, blames ‘challenging advertising market’Dominic Rushe Continue reading at The Guardian
[ The Guardian | 2014-02-07 00:00:00 UTC ]
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News Corp., the newspaper publisher that owns The Wall Street Journal and the New York Post, beat profit estimates and posted gains in real-estate services and book publishing, even as advertising... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2014-02-07 00:00:00 UTC ]
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Children’s publisher is expanding its team by appointing Helen Freeman to the newly created... Continue reading at The Bookseller
[ The Bookseller | 2014-02-05 00:00:00 UTC ]
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Seven new rights holders have signed agreements for Kindle Worlds, Amazon's model that allows writers to publish and sell authorized stories inspired by popular worlds. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-02-05 00:00:00 UTC ]
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“In recent years, new bookstores have virtually mushroomed in the city of Sofia," says Rumyana Tsvetkova, reporting for Radio Bulgaria, Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2014-02-03 00:00:00 UTC ]
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Penguin Random House’s parent company Bertelsmann has announced preliminary figures for... Continue reading at The Bookseller
[ The Bookseller | 2014-01-31 00:00:00 UTC ]
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Judging by its 2014 fiscal first half earnings report, Meredith's National Media Group is stabilizing as it continues to diversify its revenue streams and adapt to a changing marketplace. The publisher of brands like Better Homes & Gardens and Parents saw revenue increase slightly to $517... Continue reading at Folio Magazine
[ Folio Magazine | 2014-01-31 00:00:00 UTC ]
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The president of The Media Kitchen sees private marketplaces gaining traction with top publishers, and that's a good thing.The post Why Publishers Need to Embrace Automated Ad Selling appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2014-01-30 00:00:00 UTC ]
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Dumfries and Galloway Council is facing criticism after revealing plans to reduce the library... Continue reading at The Bookseller
[ The Bookseller | 2014-01-27 00:00:00 UTC ]
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From the Fly to Zero Core, the most exciting titles in the music market are put together on a shoestring and given away in shops. We talk to the editors proving that print can still thrive• See the best free magazines in pictures hereA few months after its creation, the Fly magazine almost came... Continue reading at The Guardian
[ The Guardian | 2014-01-26 00:00:00 UTC ]
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By understanding our tastes and habits, Facebook could steal billions of dollars in ads from traditional media and get Madison Avenue out of the stone age.Facebook has never been a company lacking in foolish ambition--witness Facebook Home, Beacon, Places, and other monumental undertakings. But... Continue reading at Fast Company
[ Fast Company | 2014-01-25 00:00:00 UTC ]
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