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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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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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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2020 continues to be a trying and complicated year. This statement goes beyond the boundaries of publishing and speaks to the totality of our society and economy. But as publishers, we all play an important role in informing, entertaining and serving our communities, regardless of social,... Continue reading at Folio Magazine
[ Folio Magazine | 2020-07-09 15:53:18 UTC ]
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A new job retention bonus scheme aiming to encourage employers to keep on furloughed staff has been unveiled by the Chancellor of the Exchequer. Continue reading at The Bookseller
[ The Bookseller | 2020-07-08 07:43:08 UTC ]
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Northwestern University Medill School of Journalism, Media, Integrated Marketing Communications has selected Jeremy Gilbert (BSJ00, MSJ00), director of strategic initiatives Continue reading at Editor & Publisher
[ Editor & Publisher | 2020-07-07 17:10:58 UTC ]
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Armchair detectives, get ready for a voyage around the world. You don't need to pack a bag--just pick up these audiobook mysteries and get sleuthing. Continue reading at Book Riot
[ Book Riot | 2020-07-07 10:31:58 UTC ]
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Publishers need to target non-traditional outlets and realise the media has changed if they want to make their book campaigns more inclusive, Dialogue senior publicity manager Millie Seaward has said. Continue reading at The Bookseller
[ The Bookseller | 2020-07-07 06:42:34 UTC ]
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Hachette UK has published its second ethnicity pay gap report, showing the number of BAME employees at the company has increased but the mean average pay gap between them and their white colleagues has widened. Continue reading at The Bookseller
[ The Bookseller | 2020-07-06 04:28:27 UTC ]
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Holt takes two from activist and YA author Kimberly Jones, Thomas & Mercer buys a standalone thriller from Tess Gerritsen and Gary Braver, and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-07-03 04:00:00 UTC ]
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One hundred and fifty members of staff at W H Smith's head offices in London and Swindon have entered redundancy consultations, the retailer has confirmed to The Bookseller. Continue reading at The Bookseller
[ The Bookseller | 2020-07-02 04:43:21 UTC ]
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Headline has acquired Victoria Hislop's One August Night, a sequel to her novel The Island, for release this October. Continue reading at The Bookseller
[ The Bookseller | 2020-07-02 01:22:20 UTC ]
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The Bookseller would like to capture the trade’s thoughts on social media and, in particular, "cancel culture" and its impacts on UK publishing, bookselling and writing. Continue reading at The Bookseller
[ The Bookseller | 2020-07-01 19:32:20 UTC ]
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