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IAC Seeking Buyers for Newsweek (Variety)
Newsweek appears to be on the block — again. According to sources who have been briefed, IAC is sending out inquiries to prospective buyers who may be interested in purchasing the 80-year-old title, which ended weekly publication of its domestic edition late last year in favor of a digital-only format. A revamped Newsweek.com launched earlier this month. Adweek At this point, Newsweek’s decline and predicted demise are well-trod ground. The once-venerable Newsweek used to have a circulation topping 3 million, but had fallen to less than half of that when it went digital-only this year. The move would save IAC money and enable Newsweek to make good on the copies it owed subscribers (Newsweek carried a $30 million circulation liability), but no one in their right mind expected a paid, digital magazine to be a viable option. Politico / Dylan Byers on Media In April, Diller said he regretted buying the magazine. “‘I wish I hadn’t bought Newsweek, it was a mistake,” he told Bloomberg TV. He also said he did not have “great expectations” for the digital version, which, like The Daily Beast, is edited by Tina Brown.
Posts Tagged ‘News Corp.’
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Pink Slips For A Dozen-Plus Daily News Staffers (Capital New York)
The New York Daily News is now undergoing what employees of the tabloid have been fearing for weeks: Multiple insiders tell Capital that layoffs hit the newsroom Wednesday. FishbowlNY Two veterans of the paper — Albor Ruiz and Joanna Molloy — were among those let go. Ruiz had been with the Daily News for 19 years; Molloy for 15. Other names in the bunch include Christina Boyle and Robert Gearty, both reporters. NY Observer Rumors have been circulating for some time that a round of pink slips was imminent at the Daily News. Although this is the most significant number of layoffs since editor-in-chief Colin Myler took over in November 2011, there has been a slow trickle of departures over the past months. Features editor John Oswald left in March and features reporter Jacob Osterhout vented his rage in a goodbye email after he was let go earlier this spring.
After months of negotiations, online video service Hulu is no longer for sale, according to owners.
“Since Hulu holds a unique and compelling strategic value to each of its owners, we have terminated the sale process and look forward to working together to continue mapping out its path to even greater success,” owners News Corporation, Providence Equity Partners, and The Walt Disney Company said in a statement. “Our focus now rests solely on ensuring that our efforts as owners contribute in a meaningful way to the exciting future that lies ahead for Hulu.”
Google, Amazon, DirecTV and Dish Network were all interested in Hulu, with bids reportedly ranging from $500 million to $2 billion.
Madonna, Mellencamp Inducted: Yep. It was an all-80s dance party. Madonna thanked all the people who said she was a talentless one-hit wonder. To which, we believe, John Mellencamp muttered under his breath, “You’re welcome.”
Copy Editors RIP: We enjoyed Patrick Goldstein’s column today, but we’ve got a quibble with the subhead: “With the demise of New Line’s Bob Shaye, is the last of the old guard being pushed aside?” It took us three graphs before we realized we weren’t reading an obit.
The Debut of Hulu: the joint News Corp.-NBC Universal answer to YouTube, makes its public debut today. Whopee.
Regan-omics: Former publisher Judith Regan filed a $100-million defamation lawsuit against News Corp., saying she was told to lie to the feds to protect Rudy Giuliani’s presidential bid.
FCC Playing By New Rules? The FCC is considering lifting a ban on media cross-ownership — a move the Tribune Co. needs in order for its deal with Sam Zell to go through. FCC Chairman Kevin J. Martin, who proposed the move, is getting criticized by groups who, you know, want to preserve the facade of democracy in this country. But when has democracy ever gotten in the way of a good business deal? Congrats, Sam.
Doctor Without Discipline? Dr. Jan Adams, the celebrity doc who performed plastic surgery on Donda West before she died faces the loss of his license for three convictions for alcohol-related offenses.
[Update: This post has been updated after talking to J.R. Moehringer, who talked to us on a dying cell phone from his backyard as movers shuttled stuff out of his house. Which is kinda cool.]
Resurrecting the Telephone: Columnist Dana Parsons does an admirable job defending J.R. Moehringer, saying a film based on one of his stories doesn’t tell as rich a tale as the one Moehringer actually lived/wrote. But Parsons writes the whole column without ever once calling his former colleague to find out what he thought about it.
Nothing’s Sacred To The Trib: KTLA’s historic digs on Sunset Boulevard is for sale by Tribune Co. The building has been around since 1919, or the beginning of time in L.A. years, and used to house Warner Bros. Studio. Now — who knows? — it could become a Quiznos.
The Stars — A Line: Cher, Madonna, even Apple co-founder Steve Wozniak will have to stand in line today (or hire someone to do it for them) to buy an iPhone.
Amazonian To Helm YouTube Rival: It’s gonna take a big man to take on YouTube, but NBC and News Corp. chose Jason Kilar, a little-known ex-Amazon exec to head up their joint online video venture.
Welcome To Womanhood: How funny that now that Mike Penner has become Christine Daniels she gets to encounter not only the wonders of uncomfortable footwear, but the joys of insulting assignments. Her new assignment is to write the “Day in LA” column. Could anything sound more toothless than “Day in LA?” Sigh. Welcome to the club, Christine. Trust us, it doesn’t get better.
Henry Kissinger: Says a unilateral withdrawal from Iraq wouldn’t work. And as proof, he summarizes his view of the entire Vietnam War.
Hyper-active Hyperlinks: Newspapers are getting (slowly) more adept at embedding hyperlinks into online stories — but we can’t remember the last time we saw an LAT writer link to a story he wrote for another publication, as Michael McGough does today. Let’s just hope Ned Parker doesn’t follow this trend. His pieces for Narrative Magazine.com were long
Fox Goes Further Down the Rabbit Hole: Apparently unsated by its purchase of MySpace, News Corp. bought two young amateur video companies for a combined $270 million. Yep. Two hundred seventy million dollars so that Fox could own your home movies.
The Wall Street Journal is hiring LA bureau casino/hotel reporter Peter Sanders as its new movie biz reporter, replacing Kate Kelly. His bureau-mate Stephanie Kang will head to NYC covering News Corp. This, and more, here.
Looks like CBS isn’t the only network partnering with Comcast in an online video venture. NBC announced it’s partnering News Corp. and the cable giant to establish a “YouTube-esque Web site” for NBC and Fox content.
As far as we’re concerned CBS, NBC and Fox can all keep their silly reality/sitcom shows. We’re much happier watching AJ putt.
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