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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In considering whether staff are being protected as libraries reopen during the pandemic, we take a look at some Arizona libraries. Continue reading at Book Riot
[ Book Riot | 2020-08-18 10:35:00 UTC ]
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San Antonio-based cloud services company Rackspace Technology Inc. could get investment from Seattle-based tech giant Amazon.com Inc., according to a Reuters report citing an anonymous source close to the deal. Amazon (Nasdaq: AMZN) would acquire a minority stake in Rackspace (Nasdaq: RXT) in... Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2020-08-17 16:02:51 UTC ]
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More than half of Tate's London bookshop staff are facing redundancy, with several roles in its books team and publishing operation also at risk, The Bookseller has learned. Continue reading at The Bookseller
[ The Bookseller | 2020-08-16 14:07:35 UTC ]
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Apple Daily founder and pro-democracy activist returns to office following arrest under national security lawThe Hong Kong pro-democracy figure and media mogul Jimmy Lai received a hero’s welcome as he returned to his newspaper after being arrested on allegations of foreign collusion, while... Continue reading at The Guardian
[ The Guardian | 2020-08-12 09:31:31 UTC ]
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Calling his ownership and management of The Bookseller 'the greatest privilege of my working life,' Nigel Roby sells The Stage's Hugh Comerford. The post Nigel Roby Sells the UK’s ‘The Bookseller’ to Stage Media Company appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-08-07 09:05:55 UTC ]
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Citing a surge in demand for its services, the Book Industry Charitable Foundation, the nonprofit organization that assists booksellers in need, has promoted Kate Weiss to programs manager, and is recruiting a new communications coordinator. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-08-05 04:00:00 UTC ]
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#nonprofit organization
#assists booksellers
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Chris Kane's job is to take a look at a brand's digital ad buys to see where there are overlaps that can be eliminated to improve the efficiency of the entire strategy. But in order to do that, brands have to understand exactly what they're buying through each exchange. Kane, founder and... Continue reading at AdWeek
[ AdWeek | 2020-07-29 21:03:28 UTC ]
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Waterstones has announced it is making a number of redundancies at its London Piccadilly head office. Continue reading at The Bookseller
[ The Bookseller | 2020-07-28 20:30:55 UTC ]
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After more than 20 years in production, Oprah Winfrey's eponymous magazine O, The Oprah Magazine, will reconsider how often it prints in 2021. The magazine, which launched in 2000 in conjunction with Hearst Magazines, was an expansion of Winfrey's "Live your best life" motto. It is scheduled for... Continue reading at AdWeek
[ AdWeek | 2020-07-28 19:52:06 UTC ]
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The biennial Jerusalem International Book Forum has opened applications for its Zev Birger Editorial Fellowship program, setting dates for 2021. The post Jerusalem International Book Forum Announces 2021 Dates appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-07-28 16:44:22 UTC ]
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With most live sports on hold for the past several months, sports media publishers have had to stretch their imaginations to find interesting stories to show and tell. Wave.tv, a digital media company built around working with license holders to repackage archival sports, hopes to invest more in... Continue reading at AdWeek
[ AdWeek | 2020-07-22 14:00:38 UTC ]
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#digital media
Publishers are divided on when staff should return to office buildings, with some back at their desks already but others—including Pearson and Taylor & Francis—planning to keep some staff at home until next year. Continue reading at The Bookseller
[ The Bookseller | 2020-07-19 14:53:46 UTC ]
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With the 2020 Prix Voltaire winner losing a key author under safety concerns, the International Publishers Association appeals to Hanoi for restraint. The post IPA, PEN America Blast Vietnam’s ‘Crackdown on Independent Media’ appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-07-16 13:45:34 UTC ]
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Spain's Liber20 book fair announces a blended physical and digital program for October, shortly before Frankfurter Buchmesse expects to do the same. The post Liber20 in Barcelona Announces October Hybrid Program for Spain’s Industry appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-07-14 14:59:24 UTC ]
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The biggest airport in Canada is eliminating 500 jobs because of the dramatic reduction in demand for air travel due to COVID-19. Continue reading at CBC
[ CBC | 2020-07-14 14:02:27 UTC ]
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High-end regional magazine publisher Modern Luxury Media parted ways with several employees in a restructuring earlier this month, including at least seven editors-in-chief, Folio: has learned. Those who have exited the company since the start of July include the editors-in-chief at both San... Continue reading at Folio Magazine
[ Folio Magazine | 2020-07-14 13:28:14 UTC ]
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The 40th annual Los Angeles Times Book Prizes were announced today on Twitter. The prizes are given in 12 categories, and titles from Penguin Random House took home six. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-07-14 04:00:00 UTC ]
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The Strand Book Store’s union forcefully denounced the firing of twelve booksellers who were only recently rehired after mass layoffs during the first weeks of the new coronavirus outbreak in March. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-07-13 04:00:00 UTC ]
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Hedge fund Chatham Asset Management said it plans to buy newspaper publisher McClatchy out of bankruptcy, ending 163 years of family control Continue reading at ABC News
[ ABC News | 2020-07-12 18:42:02 UTC ]
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Stand fees will be reduced by up to 50 percent and digital development will be supported by funds from Germany's 'Neustart Kultur' stimulus package. The post Frankfurter Buchmesse Announces €4 Million German Federal Grant appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-07-10 11:29:18 UTC ]
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