Vox Media has confirmed what CNBC reported earlier this week, that it is indeed about to undergo a round of layoffs that will eliminate 72 positions, which accounts for 6% of its total staff of 1,200. In a letter to staff, CEO Jim Bankoff, broke the difficult news to his employees candidly, opening with: “With deep sadness, and as a consequence of the pandemic and its devastating impact on the economy, I am writing to let you know that today we will be informing some of our colleagues that they will no longer have jobs at Vox Media.” According to CNBC, Vox has struggled to generate enough revenue due to the economic downturn that has been caused by the COVID-19 pandemic. At current pace, it is expected to miss its full-year revenue goal by 25%. The publisher, who’s portfolio includes Vox.com, New York Magazine, The Cut, The Verge, Recode, SB Nation, Eater and Polygon and others, was considered a digital publishing role model by many media pundits for its ability to launch new brands and make smart acquisitions that fit into its core business model. But as we’ve seen recently with companies like Atlantic Media and Quartz, two organizations that were also celebrated for their innovative business models, nobody is immune to the current market conditions. According to Bankoff, the coming cuts will be a majority of staffers who were furloughed in May, but some who stayed on through the pandemic will also be laid off. No specifics as of yet to which departments will be... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-07-16 14:53:51 UTC ]
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#deeply affected
#uniquely positioned
#renewed growth
#digital publishing
Manhattan Media, publisher of local weeklies Our Town and The West Side Spirit whose CEO Tom Allon is running for mayor, is on the block, according to two people with knowledge of the situation. Since its founding 11 years ago by Mr. Allon and Richard Burns, managing partner of Isis Venture... Continue reading at Crains New York
[ Crains New York | 2012-09-12 00:00:00 UTC ]
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#city hall
Publishers want a slice of Google ad revenue. France's major online newspaper publishers have called for a new legislation which will ensure internet search engines including Google have to pay them for using their published content. Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-09-12 00:00:00 UTC ]
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#published content
#including google
Amazon's new lineup of devices includes a Kindle Fire tablet with HD and other new features as well as a back-lit e-reader called the Kindle Paperwhite. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2012-09-07 00:00:00 UTC ]
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#amazon announces
#kindle paperwhite
Kobo has announced three new devices as it steps up the pressure to win market share from rival e... Continue reading at The Bookseller
[ The Bookseller | 2012-09-06 00:00:00 UTC ]
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#kobo announces
Debt-laden broadcaster Nine Entertainment confirms the sale of its magazine portfolio to the privately owned Bauer Media Group. Continue reading at The Sydney Morning Herald
[ The Sydney Morning Herald | 2012-09-05 00:00:00 UTC ]
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#magazine portfolio
A group of Special Ops veterans released its own ebook, 'No Easy Op,' suggesting 'No Easy Day' author Matt Bissonnette wrote his book in part due to ‘bad blood’ with his former unit. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2012-09-05 00:00:00 UTC ]
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#easy day
After the acquisition of San Antonio, Austin Monthly and Austin Monthly Home, Hadley Capital, a private equity firm specializing in acquisitions, leveraged buyouts, management buyouts, recapitalizations and add-on acquisitions, among other things, founded Open Sky Media in March 2011. Continue reading at Folio Magazine
[ Folio Magazine | 2012-09-04 00:00:00 UTC ]
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#san antonio
Small publisher Stinging Fly Press will compete against the major houses for the £10,000... Continue reading at The Bookseller
[ The Bookseller | 2012-08-31 00:00:00 UTC ]
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#major houses
In a new study produced by the MPA, the Association of Magazine Media, and research firm GfK MRI, data reveals that Millennial magazine media readers aged 18 to 34 believe that technology has improved their experience of accessing various media—including magazines. Continue reading at Folio Magazine
[ Folio Magazine | 2012-08-27 00:00:00 UTC ]
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#data reveals
#magazine media
The newspaper business’s reliance on the industrial machine of printing and distributing is often understated. It’s a delicate ecosystem that can have a real effect on publisher margins – as the fluctuation in newsprint ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-08-24 00:00:00 UTC ]
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#increased competition
#marketing spend
#bad news
#print media
The Daily, News Corp.’s attempt to create a digital newspaper for the iPad age, is laying off nearly a third of its staff. The publisher plans to tell its workers today that it will fire 50 of its 170 employees, according to people famili ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-07-31 00:00:00 UTC ]
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#publisher plans
Social media is young and its impact on news publishing is still unfolding. It’s unlikely that sharing and commenting will be the only major trends to emerge from the social revolution. News publishers, already beset by extraordinary change ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-07-30 00:00:00 UTC ]
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#news publishing
#major trends
#news publishers
As print continues to decline and digital often struggles to live up to the hype, events are offering higher profits than print and, for many publishers, far higher revenues than digital. Luxury consumer magazine and media company Dwell, however, is leveraging all of these different groups and... Continue reading at Folio Magazine
[ Folio Magazine | 2012-07-26 00:00:00 UTC ]
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#print continues
#business model
Two novels that have received praise in the US – 'Bring Up the Bodies' by Hilary Mantel and 'The Unlikely Pilgrimage of Harold Fry' by Rachel Joyce – made the cut. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2012-07-26 00:00:00 UTC ]
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#received praise
#hilary mantel
#harold fry
#rachel joyce
The editor of Newsweek Daily Beast wrote to reassure staff members after comments by Barry Diller about the future of a print version of the magazine. Continue reading at The New York Times
[ The New York Times | 2012-07-26 00:00:00 UTC ]
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#tina brown
#print version
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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#academic division
#revenue growth
The new sponsor for the Women's Prize for Fiction, up-to-now sponsored by Orange, will be... Continue reading at The Bookseller
[ The Bookseller | 2012-07-24 00:00:00 UTC ]
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The publisher has bought a Bloomington, Ind.-based company called Author Solutions, which so far has attracted 150,000 authors releasing their own books. Continue reading at The New York Times
[ The New York Times | 2012-07-19 00:00:00 UTC ]
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Chen Guangcheng, whose nighttime escape and conflict with the Chinese government led to a diplomatic crisis for the United States last spring, is writing a memoir to be published next year. Continue reading at The New York Times
[ The New York Times | 2012-07-18 00:00:00 UTC ]
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The ebook format became the most popular one for adult fiction in 2011, surpassing hardcover books and paperbacks, according to an annual survey. Net revenue from ebook sales over all more than doubled from 2010. Continue reading at The New York Times
[ The New York Times | 2012-07-18 00:00:00 UTC ]
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#ebook format
#adult fiction
#annual survey
#net revenue
#ebook sales