Paramount laying off another 15 percent of its US workforce

Paramount is laying off 15 percent of its US workforce, according to reporting by Deadline. This follows a lean second quarter earnings report in which total revenue fell short from an expected $7.21 billion to $6.81 billion. The layoffs will impact around 3,000 people. “The industry continues to evolve, and Paramount is at an inflection point where changes must be made to strengthen our business,” company CEOs wrote in a staff memo. Paramount representatives say these cuts will happen in three stages, with layoffs beginning today and 90 percent of all cuts being completed by the end of September. The layoffs will primarily impact employees involved in marketing and communications, though the company’s legal and finance arms will also face cuts. Paramount already laid off three percent of its workforce back in February, and this was after a three percent increase in revenue growth that was largely credited to its streaming and film businesses. So, a three percent increase of revenue translated to a three percent reduction of Paramount’s workforce and missing revenue expectations by around four percent is leading to layoffs accounting for 15 percent of company employees. Workers can’t catch a break. All of these layoffs are likely being used to clear the runway, so to speak, for the forthcoming merger with Skydance. The merger was announced back in June and will soon head to the regulatory review process. Paramount has also been raising prices for its streaming service... Continue reading at 'Engadget'

[ Engadget | 2024-08-13 15:31:20 UTC ]

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Folio: 100 Honorees To Be Fêted at Celebration Luncheon on December 6 in New York City

NEW YORK — Folio: is pleased to unveil its 2018 Folio: 100 Honorees. Each year, an elite group of media professionals are selected to represent the best and brightest minds in magazine and digital media today. The 2018 class of honorees includes: Hearst Magazine's Troy Young, National... Continue reading at Folio Magazine

[ Folio Magazine | 2018-11-07 00:00:00 UTC ]
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Fatherly Taps Condé Nast Exec as VP of Marketing | People on the Move

[caption id="attachment_134125" align="alignright" width="150"] Kelley Gudahl[/caption] Kelley Gudahl was tapped as Fatherly’s first VP of marketing this week. In her new position, Gudahl will be tasked with leading the pre-sale RFP process, generating multi-purpose franchise ideas with the... Continue reading at Folio Magazine

[ Folio Magazine | 2018-08-23 00:00:00 UTC ]
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Entertainment Weekly Taps Greg Garry as Photography Director | People on the Move

[caption id="attachment_128255" align="alignright" width="150"] Greg Garry[/caption] Former photo director of Out Magazine, Greg Garry, is joining Entertainment Weekly. Starting this week, Garry will oversee EW’s photography team from the New York office until this fall when he transfers to the... Continue reading at Folio Magazine

[ Folio Magazine | 2018-07-19 00:00:00 UTC ]
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Macmillan’s John Sargent on Trump ‘Fire and Fury’ Cease-and-Desist: ‘Flagrantly Unconstitutional’

'We cannot stand silent,' says the CEO of Macmillan, parent to 'Fire and Fury' publisher Henry Holt. In his staff memo,' John Sargent calls out Donald Trump's 'clear effort...to intimidate a publisher.' The post Macmillan’s John Sargent on Trump ‘Fire and Fury’ Cease-and-Desist: ‘Flagrantly... Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2018-01-08 00:00:00 UTC ]
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Netflix's first comic book is Mark Millar's 'The Magic Order'

When Netflix acquired Mark Millar's comic book empire in August, many assumed the streaming service would just adapt his various works for the screen. That isn't quite the case: Netflix announced today that it will publish The Magic Order as a comic... Continue reading at Engadget

[ Engadget | 2017-11-08 00:00:00 UTC ]
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Netflix Makes First Acquisition With Comic-Book Publisher

Netflix announced its first-ever acquisition, snapping up a comic-book publisher and pushing a strategy that has also been popular with major Hollywood studios for years: Superheroes.Netflix agreed to buy Millarworld, the publisher behind characters and stories like "Kingsman" and "Old Man... Continue reading at Advertising Age

[ Advertising Age | 2017-08-08 00:00:00 UTC ]
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Netflix’s First Acquisition Is Comic Book Publisher Millarworld

Netflix has acquired the comic book publisher Millarworld, giving the streaming service a handful of new titles even as it continues to build out its Marvel world. Today, Netflix announced the deal as its first acquisition, which gives it comic titles such as Kick-Ass, Kingsman and Wanted. Terms... Continue reading at AdWeek

[ AdWeek | 2017-08-07 00:00:00 UTC ]
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The Tick’s Next Adventure? Saving One Amazon Viewer’s City

The weirdest superhero to ever cross over into the mainstream returns on Amazon in August, and the streaming service wants him to do some good. Before the superhero boom of the ’00s led to the superhero glut of the ’10s, there was The Tick. The character, created by cartoonist Ben Edlund to... Continue reading at Fast Company

[ Fast Company | 2017-07-11 00:00:00 UTC ]
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Growing Russian Book Market Looks to Educational and Children’s Books in 2017

With book production down 40 percent in Russia, the country's publishers are looking to favorable book pricing as a source of revenue growth in 2017. The post Growing Russian Book Market Looks to Educational and Children’s Books in 2017 appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2017-01-12 00:00:00 UTC ]
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Spotify agrees to pay millions for unmatched royalties

Spotify has come an agreement with NMPA (National Music Publishers Association) over unpaid royalties for music on the streaming service that didn't have copyright owner information. According to The Verge, the company will pay $21 million. Continue reading at Engadget

[ Engadget | 2016-03-18 00:00:00 UTC ]
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Chris Hughes Puts The New Republic Up for Sale

Chris Hughes' ownership of The New Republic looks like it will come to an end.The Facebook co-founder, in a staff memo later published on Medium, announced that he is seeking a new owner for the magazine, which he acquired in 2012."After investing a great deal of time, energy, and over $20... Continue reading at Advertising Age

[ Advertising Age | 2016-01-11 00:00:00 UTC ]
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Why TV Is Still the Most Effective Advertising Medium

With competition from Netflix and a host of new digital video providers, the television industry has undergone seismic changes over the last five years. But one thing has remained constant: TV is still by far the most effective advertising medium. That's the finding of a new study Turner... Continue reading at AdWeek

[ AdWeek | 2015-06-09 00:00:00 UTC ]
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Storia Moves to Streaming Model

With the September release of Storia School Edition, Scholastic will move its digital reading platform to a streaming service. Continue reading at Publishers Weekly

[ Publishers Weekly | 2014-07-29 00:00:00 UTC ]
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NME sales falling off the charts

Music weekly's circulation drops below 'death knell' 20,000 mark but publisher says reach and revenues are growingIn its heyday it sold more than 300,000 copies but the circulation of the New Musical Express, the last of the old-school music weeklies, has dipped below 20,000 in the latest... Continue reading at The Guardian

[ The Guardian | 2014-02-14 00:00:00 UTC ]
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Time Inc. execs warn of layoffs

More job cuts could soon hit Time Inc., company executives told their top 300 managers at a quarterly meeting on Monday.The warning came during a question-and-answer session with Norm Pearlstine, Time Inc.'s newly appointed chief content officer. Asked by Time magazine Managing Editor Nancy... Continue reading at Crains New York

[ Crains New York | 2013-12-10 00:00:00 UTC ]
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Informa’s academic division up 6% in first half

Taylor and Francis’ parent company Informa saw revenue growth in its academic division of 6... Continue reading at The Bookseller

[ The Bookseller | 2012-07-25 00:00:00 UTC ]
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