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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‘Catch and Kill’ follows a reporter’s noirish road to uncovering alleged sexual misconduct at NBC and in Hollywood. Continue reading at The Washington Post
[ The Washington Post | 2019-10-14 16:12:00 UTC ]
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Perhaps it was promising, years ago, to see the media industry booming thanks to investments by venture capital-backed funders and large media conglomerates hoping to cash in early on promising new digital media titles. But now, it's the time in the industry's life cycle for those same flashy... Continue reading at AdWeek
[ AdWeek | 2019-10-14 15:22:42 UTC ]
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[caption id="attachment_162587" align="alignright" width="150"] Zach Seward[/caption] On Monday, Quartz announced multiple transitions in leadership, including co-founder Zach Seward's promotion from chief product officer and executive editor to CEO. Former co-CEO and publisher Jay Lauf will... Continue reading at Folio Magazine
[ Folio Magazine | 2019-10-10 18:28:48 UTC ]
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Citing mounting vendor debt and declining revenue, Tiger Oak Media—the publisher of more than 30 regional and bridal magazines around the country—has filed for Chapter 11 bankruptcy protection, according to documents filed in U.S. Bankruptcy Court in Minnesota on Monday. The 26-year-old... Continue reading at Folio Magazine
[ Folio Magazine | 2019-10-10 14:55:27 UTC ]
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The recent media mergers could help the combined companies to secure more production deals with streaming services. The post Digital media companies consolidating should boost their forays into Hollywood appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2019-10-09 04:01:45 UTC ]
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With banks more reluctant to lend, venture capitalists aren't interested in buying digital media companies that aren't growing quickly. The post ‘It can be demotivating’: Digital media’s all-stock deals are the new normal appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2019-10-09 04:01:17 UTC ]
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Vesuvian Media Group, a books-to-film multimedia company, has acquired Black Spot Books, which has a growing list of adult and young adult titles. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-10-09 04:00:00 UTC ]
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A list of the top 20 prime-time programs in the Nielsen ratings for Sept. 30-Oct. 6 Continue reading at ABC News
[ ABC News | 2019-10-08 21:42:01 UTC ]
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A slew of digital media acquisitions over the past few weeks shows how unreliable private valuations can be. The only Continue reading at Editor & Publisher
[ Editor & Publisher | 2019-10-08 16:38:01 UTC ]
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The finalists for the five categories have been named, and the winner in each category will be announced at a ceremony in New York City on November 20. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-10-08 04:00:00 UTC ]
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If you want to get your kids to read more instead of watching TV, Amazon hasn't forgotten about you or your kid. Alongside the Fire HD 10 Kids Edition tablet the company announced today, Amazon took the wraps off the Kindle Kids Edition, its first-ev... Continue reading at Engadget
[ Engadget | 2019-10-07 16:02:00 UTC ]
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Twenty years ago, the news publishing world looked a lot different than it does today. Newspapers were still the main Continue reading at Editor & Publisher
[ Editor & Publisher | 2019-10-07 07:00:48 UTC ]
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A staff uprising at Sports Illustrated... Following Tuesday's New York Post report that editor-in-chief Chris Stone is exiting Sports Illustrated after 27 years with the magazine, The Wall Street Journal added late Wednesday evening that the brand's new operator, TheMaven Inc., is planning to... Continue reading at Folio Magazine
[ Folio Magazine | 2019-10-03 20:41:59 UTC ]
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When the news first broke that the MIT Media Lab had a close relationship with deceased billionaire and convicted pedophile Jeffrey Epstein, some saw it as a momentary lapse in judgment, and there was widespread support for Media Lab director Joi Ito. But then New Yorker writer Ronan Farrow... Continue reading at Columbia Journalism Review
[ Columbia Journalism Review | 2019-10-03 10:50:57 UTC ]
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Vice Media Inc., the youth-oriented media company, agreed to acquire the online publisher Refinery29, seeking to reignite growth by reaching a young female audience. The deal marks the biggest move yet by Vice Chief Executive Officer Nancy Dubuc, who has been trying to revive the once... Continue reading at Advertising Age
[ Advertising Age | 2019-10-02 19:51:02 UTC ]
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Partners on the initiative include the Rubicon Project, Telaria, Acoustic, Akamai, Business Insider, Crackle Plus, Havas Media, IBM Watson, Inscape/Vizio, IRIS.TV, News Corp, Octopus Interactive, Oracle Data Cloud, Publishers Clearing House and White Ops. Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2019-10-02 16:44:44 UTC ]
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The Dotdash CEO reflects on media's buyers and sellers, and the underlying trends that have guided the media deals that have defined 2019. The post ‘We’re very actively looking’: Dotdash’s Neil Vogel on digital media M&A appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2019-10-01 16:38:36 UTC ]
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HQ has acquired the debut non-fiction book from Kate Fall, David Cameron’s former deputy chief of staff, to provide "an insider’s account of life at the heart of Number 10". Continue reading at The Bookseller
[ The Bookseller | 2019-10-01 06:34:06 UTC ]
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The Christian multimedia company 1517 Media whose imprints include Beaming Books, Fortress Press, and Augsburg Books, has acquired Lutheran University Press, Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-09-30 04:00:00 UTC ]
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[caption id="attachment_171661" align="alignright" width="150"] Emily Smith[/caption] Wild Sky Media has hired Emily Smith as its new CEO. Smith previously served as the company's SVP of content and marketing at Wild Sky Media, a role which Johanna Torres, formerly VP of content and editorial... Continue reading at Folio Magazine
[ Folio Magazine | 2019-09-26 17:39:26 UTC ]
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