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 ]
News tagged with:
#deeply affected
#uniquely positioned
#renewed growth
#digital publishing
Active Interest Media has acquired BoatQuest.com, adding the online classified page to its portfolio of properties, which includes Yachts Magazine and Show Management. Continue reading at Folio Magazine
[ Folio Magazine | 2011-03-24 00:00:00 UTC ]
More news stories like this |
Amanda Hocking, the 26-year-old author who shot to fame by selling more than a million copies of her self-published books, has signed a deal with St. Martin's Press. Continue reading at The New York Times
[ The New York Times | 2011-03-24 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#media decoder
#amanda hocking
#million copies
#self-published books
Bloomberg announced today that it will launch the Bloomberg Media Group, a media group that pulls together all of Bloombergs consumer properties. Continue reading at Folio Magazine
[ Folio Magazine | 2011-03-23 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#media group
After putting select teen and romance titles up for sale last month, New York City-based Dorchester Media has decided to sell the rest of its magazine stable, offering up the eight magazines that comprise the Woman's Romance Group, such as 92-year-old, 250,000-circ. flagship True Story. The move... Continue reading at Folio Magazine
[ Folio Magazine | 2011-03-22 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#romance titles
#magazine business
Amanda Hocking, the darling of the self-publishing world who has sold more than 900,000 copies of nine books in the last year, has been shopping a four-book series to major publishers. Continue reading at The New York Times
[ The New York Times | 2011-03-21 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#media decoder
#book deal
#amanda hocking
#four-book series
#major publishers
Barry O'Callaghan, the chief executive of Houghton Mifflin Harcourt, resigned on Tuesday after less than two years on the job. Continue reading at The New York Times
[ The New York Times | 2011-03-16 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#media decoder
After AOLs layoff of 900 staff last week (the U.S. division losing 300 members), the Huffington Post Media Group has begun hiring. Continue reading at Folio Magazine
[ Folio Magazine | 2011-03-15 00:00:00 UTC ]
More news stories like this |
Regional publisher Greenspun Media announced it will launch Vegas Inc., a weekly business magazine for the Las Vegas market, on April 4. Vegas Inc. staff includes Greenspun business editor Richard Pereze-Feria as editor-in-chief, Spencer Holladay as art director, Dave Mondt as designer asnd Erin... Continue reading at Folio Magazine
[ Folio Magazine | 2011-03-11 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#art director
#associate editor
Written By: Lisa Campbell Publication Date: Fri, 04/03/2011 - 15:09 The board of Easons has said it backs Conor Whelan, who has been managing director of Easons since September 2009, after senior staff working in Dublin cast a vote of no confidence in him. Irish union organisation Siptu said... Continue reading at The Bookseller
[ The Bookseller | 2011-03-04 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#management grade
#recent meeting
#head office
#individual stores
#book buyers
Beginning Tuesday, Random House will join other major book publishers in selling its ebooks using the so-called agency model, setting its own prices for ebooks while the retailer takes a commission. Continue reading at The New York Times
[ The New York Times | 2011-03-01 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#media decoder
#random house
Beginning in March, ebooks from HarperCollins may be lent by public libraries only 26 times before the license expires. Continue reading at The New York Times
[ The New York Times | 2011-02-28 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#media decoder
#public libraries
The National Magazine Awards for Digital Media 2011 finalists have been announced by Sid Holt, chief executive of the American Society of Magazine Editors. The awards will be presented on March 16th, 2011. Nicknamed the Digital Ellies because of the Alexander Calder stabile "Elephant" given to... Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-24 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#american society
#magazine editors
Written By: Lisa Campbell Publication Date: Wed, 23/02/2011 - 17:51 Waterstone's has made 17 members of staff redundant from its head offices in Brentford and Solihull. read more Continue reading at The Bookseller
[ The Bookseller | 2011-02-23 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#staff redundant
Magazine publishers have a tough choice: an exclusive, pricey deal with the wildly popular Apple conduit, or Googles open, less expensive and less trafficked vehicle. Continue reading at The New York Times
[ The New York Times | 2011-02-21 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#media equation
#magazine publishers
Written By: Bookseller Staff Publication Date: Mon, 21/02/2011 - 15:41 A fifth of libraries across Yorkshire face the axe with Bradford the latest city in the region to announce closures. read more Continue reading at The Bookseller
[ The Bookseller | 2011-02-21 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#latest city
Written By: Graeme Neill Publication Date: Fri, 18/02/2011 - 08:15 Publishing staff at Cambridge University Press (CUP) have voted to reject a pay increase of 2%. The proposed pay increase, which CUP has described as reasonable and in line with other pay settlements, has led the Unite union to... Continue reading at The Bookseller
[ The Bookseller | 2011-02-18 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#economic downturn
Rockville, MDB-to-b media company Access Intelligence announced today the acquisition of Red 7 Media, owner of Folio: Magazine and several other leading media brands. Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-17 00:00:00 UTC ]
More news stories like this |
Google announced today the creation of a service, Google One Pass, which will allow publishers to set their own prices and terms for the sale of digital content. Eric Schmidt introduced this new service at Humboldt University in Berlin. Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-17 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#digital content
Written By: Bookseller Staff Publication Date: Fri, 18/02/2011 - 00:01 A Mills & Boon bonkbuster, an examination of the ongoing debate surrounding organ procurement, and a guide to managing a dental practice in a Mongol warlord kind of way, are among the titles vying for the Diagram Prize... Continue reading at The Bookseller
[ The Bookseller | 2011-02-17 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#diagram prize
#titles vying
#latest instalment
#avoid boredom
#horace bent
A day after Apple stirred up online publishers with its digital subscription plan, Google announced a service that aims to be more publisher-friendly. Continue reading at The New York Times
[ The New York Times | 2011-02-17 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#digital content
#online publishers
#google announced