48 replies to this topic

[dasmo]

Google gives CAN MSM $$$ CAN Government gives MSM $$$ CAN Government gives Google $$$. We get more propaganda and less money in our pockets.

[Victoria Watcher]

The news industry is enduring a brutal start to the new year, with outlets large and small across the country hemorrhaging reporting staff as legacy business models that kept much of the industry afloat for decades collapse in plain sight.

 

The rapid contraction, coming even as the presidential election cycle heats up and public attention and revenues historically mount, has been on full display this month, with the first few weeks of 2024 ushering in a spate of painful layoffs at news organizations from coast-to-coast.

 

The Los Angeles Times slashed its newsroom by more than 20% earlier this week; TIME cut dozens of staffers; and Business Insider said it would trim its workforce by 8%.

 

Meanwhile, hundreds of staffers at Condé Nast, Forbes, The New York Daily News, and others staged historic walkouts to protest planned cuts at the outlets.

 

 

https://www.cnn.com/...ture/index.html

Edited by Victoria Watcher, 26 January 2024 - 01:42 AM.

[Victoria Watcher]

The Los Angeles Times announced Tuesday that it was laying off at least 115 people — or more than 20% of the newsroom — in one of the largest workforce reductions in the history of the 142-year-old institution.

 

The move comes amid projections for another year of heavy losses for the newspaper.

 

The cuts were necessary because the paper could no longer lose $30 million to $40 million a year without making progress toward building higher readership that would bring in advertising and subscriptions to sustain the organization, said the paper’s owner, Dr. Patrick Soon-Shiong.

 

Drastic changes were needed, he said, including installing new leaders who would focus on strengthening the outlet’s journalism to become indispensable to more readers.

_______________

 

But economic head winds, which intensified when the COVID-19 pandemic erased more than $60 million in advertising revenue, disrupted the turnaround. The Times maintained its newsroom of more than 500 people until last summer, when another dramatic pullback in advertising, brought on by Hollywood’s labor unrest, worsened the financial picture.

 

 

https://www.latimes....oom-soon-shiong

Edited by Victoria Watcher, 26 January 2024 - 01:44 AM.

[Mike K.]

It’s amazing that it has taken as long as it has. But why has there been no evolution?

[Victoria Watcher]

https://twitter.com/...522044373139763

 

[Victoria Watcher]

A Victoria-based online sports video platform has been acquired by a global media company for $150 million.

 

Minute Media announced it has acquired STN Video. The local company delivers sports videos to about 2,000 newspapers in North America and has highlight rights with all the major leagues, including the NHL, NFL and NBA. The acquisition will enhance Minute Media’s sports content library for distribution partners and advertisers, the company said in a press release.

 

The company was founded as SendtoNews in 2008 by former CHEK sports and news anchor Keith Wells, who developed a fast and convenient way of sending video. Wells spent 10 years working with leagues and publishers around North America, helping them integrate the product. He hasn’t been involved in the company for five years, but is still a minor shareholder.

 

“I’m happy for our original investors who helped so much along the way, without being certain this day would ever come. Also, all the employees in Victoria who helped break digital ground in online video. In about 2012, we thought we had missed our chance with news and sports video, but looking back now, we were actually on the cutting edge,” Wells said Friday.

 

 

https://www.timescol...million-8205225

[Mike K.]

Wow! Cool! Good for Keith and that entire team.

[Victoria Watcher]

Deadspin sold by G/O Media, editorial staff to be laid off

 

 

 

Details: In the memo, Spanfeller said none of Deadspin's existing staff will move over with the site as part of the deal and the new owners will "instead build a new team more in line with their editorial vision for the brand."

 

 

 

 

https://www.axios.co...-to-be-laid-off

 

 

 

 

 

 

 

Edited by Victoria Watcher, 11 March 2024 - 01:41 PM.

[Nparker]

That Babylon Bee post just made my day.