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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A ad tech startup that promises to help Web publishers make sense of all the data their ad sales generate. Continue reading at AllThingsD
[ AllThingsD | 2011-05-31 00:00:00 UTC ]
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GigaOM, a media company targeting the tech space, has secured a $6 million round of funding led by Reed Elsevier's investment group Reed Elsevier Ventures. Existing venture partners Alloy Ventures and True Ventures also participated in the round. Continue reading at Folio Magazine
[ Folio Magazine | 2011-05-31 00:00:00 UTC ]
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Barnes & Noble CEO William Lynch announced the new Nook, aimed at "those turned off by buttons." Continue reading at Editor & Publisher
[ Editor & Publisher | 2011-05-26 00:00:00 UTC ]
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#amazon responds
Spending on e-media infrastructure increased for both large and small b-to-b publishers in 2010 and will again in 2011, according to respondents to the 2011 FOLIO B-to-B CEO Survey. Larger publishers expect operating expenses to jump 6 percent in e-media, while smaller publishers expect a 5... Continue reading at Folio Magazine
[ Folio Magazine | 2011-05-25 00:00:00 UTC ]
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Brightcove, an online video platform, and 5min Media, a Web video syndication platform and division of the newly-formed AOL Advertising.com Group, have expanded their partnership. Continue reading at Folio Magazine
[ Folio Magazine | 2011-05-25 00:00:00 UTC ]
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Conde Nast has launched a new marketing services division called the Ideactive Unit, which is taking aim at the non-media budgets of current Conde Nast advertisers, as well as new clients. Continue reading at Folio Magazine
[ Folio Magazine | 2011-05-23 00:00:00 UTC ]
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Written By: Philip Jones Publication Date: Fri, 20/05/2011 - 10:11 US bookseller Barnes & Noble has received an offer for the company from Liberty Media, a private investment group. The deal values the business at about $1bn, but Liberty said it expected to spend $500m on the acquisition... Continue reading at The Bookseller
[ The Bookseller | 2011-05-20 00:00:00 UTC ]
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Barnes & Noble Inc. said that Liberty Media Corp. has offered to buy the bookseller in a deal valuing it at about $1 billion. Barnes & Noble shares were up 20 percent in after-hours trading Thursday on the news, matching the $17-a-share offer price from John Malone's media empire. Continue reading at AllThingsD
[ AllThingsD | 2011-05-20 00:00:00 UTC ]
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Barnes & Noble Inc. said that Liberty Media Corp. has offered to buy the bookseller in a deal valuing it at about $1 billion. Barnes & Noble shares were up 20 percent in after-hours trading Thursday on the news, matching the $17-a-share offer price from John Malone's media empire. Continue reading at AllThingsD
[ AllThingsD | 2011-05-20 00:00:00 UTC ]
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Durham, North Carolina-based Food News Media, a b-to-b publisher serving the food and restaurant industry, has introduced Restaurant Management, a mobile magazine targeting full-service restaurateurs and executives. Continue reading at Folio Magazine
[ Folio Magazine | 2011-05-19 00:00:00 UTC ]
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Jane Pratt, former editor-in-chief of Sassy and Jane magazines, has been named editor and creative director of style with SAY Media. In this new role, she will be acting as editor-in-chief for xoJane.com, a new womens-interest site owned by SAY. Continue reading at Folio Magazine
[ Folio Magazine | 2011-05-16 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Mon, 16/05/2011 - 15:30 Booksellers need to be treated as a crucial partner in the process of promoting books through the media or risk looking "irrelevant", the Book Industry Conference (BIC) has been told. Waterstone's bookseller Cathy Rentzenbrink... Continue reading at The Bookseller
[ The Bookseller | 2011-05-16 00:00:00 UTC ]
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#promoting books
The company is pushing ahead with plans to outsource sub-editor and designer positions, despite stop-work meetings held by staffers. Continue reading at Editor & Publisher
[ Editor & Publisher | 2011-05-13 00:00:00 UTC ]
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Readers Digest has named Matthew Goldenberg general manager of Readersdigest.com. Goldenberg comes from Bloomberg, where he acted as managing editor and operations director at Bloomberg LP. At Readers Digest, Goldenberg will oversee digital operations and continue to push forward the brands... Continue reading at Folio Magazine
[ Folio Magazine | 2011-05-12 00:00:00 UTC ]
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American publishers have always given away their work in hopes of building up huge audiences that they can sell advertising against. Are they making a mistake in replicating that model on the iPad and other tablets? Continue reading at The New York Times
[ The New York Times | 2011-05-11 00:00:00 UTC ]
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Demand Media released financial results for the first quarter of 2011 Thursday; the company saw gains in revenue and losses from operations in comparison to the same quarter last year. Continue reading at Folio Magazine
[ Folio Magazine | 2011-05-09 00:00:00 UTC ]
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Magazine publishers are making plans to be part of, rather than run over by, the digital revolution. Continue reading at The New York Times
[ The New York Times | 2011-05-09 00:00:00 UTC ]
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A $5 million lawsuit against Simon & Schuster over a book by former President Jimmy Carter was dropped by the plaintiffs on Thursday, three months after it was filed. The plaintiffs in the class-action suit had argued that Mr. Carter's "Palestine: Peace Not Apartheid," about the Arab-Israeli... Continue reading at The New York Times
[ The New York Times | 2011-05-06 00:00:00 UTC ]
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Random House has acquired Smashing Ideas, a digital media agency, in an effort to strengthen its digital publishing side, the publisher said on Thursday. Continue reading at The New York Times
[ The New York Times | 2011-05-05 00:00:00 UTC ]
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Written By: Philip Jones Publication Date: Tue, 03/05/2011 - 09:22 The digital publishing market is now worth 6% of UK publishers' sales, the Publishers Association has revealed, with consumer digital sales up more than 300% in 2010 to £16mthe third year of treble digit growth. The PA... Continue reading at The Bookseller
[ The Bookseller | 2011-05-03 00:00:00 UTC ]
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