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Bloomberg Media Sets Timetable for Politics, Business Sites

BloombergLPPromoThere was a two-hour town hall meeting at Bloomberg L.P. last week. And as Joe Pompeo recounts in his very informative Capital New York piece, some important details were shared about the media group by Bloomberg Businessweek EIC Josh Tyrangiel:

Employees were informed that the first in a planned suite of “digital-led multi-platform brands,” a politics site being developed by high-profile political journalists and Game Change authors John Heilemann and Mark Halperin, both poached by Bloomberg in May with annual salaries reported to be north of $1 million, will debut on October 6 – 30 days before the 2014 Midterms — in tandem with a daily half-hour television show hosted by the duo that will air in Bloomberg TV’s 5 p.m. time slot as well as streaming online…

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Time Inc. to Staffers: Please Don’t Stream USA vs. Belgium

FIFAWorldCupLogoIf this is Tuesday, it must be…

Capital New York’s Nicole Levy got her hands on a memo from Time Inc. CTO Colin Bodell. Apparently, the strain put on the company’s Intranet last Thursday by in-house streaming of the USA vs. Germany FIFA World Cup game has him asking, as a favor, that employees please not do that again:

While we understand that everyone wants to support the national team, please do not stream the game over the Internet to your local workstation. There are conference rooms and pantries located throughout the building that have televisions where the game can be viewed. Thank you for your understanding and cooperation.

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Time Inc. Senior Digital VP: ‘We are Not a Magazine Company’

M. Scott Havens, who recently joined Time Inc. as its new senior VP of digital, has big plans for the company. In an interview with The Guardian, Havens made it clear that in order for the company to flourish, it was going to have to think outside the box. Way outside.

“We are not a magazine company,” he explained. “We are a media company with a portfolio.” Time Inc. staffers, please note this change when talking to relatives about your career.

Havens had a good reason for tossing aside the “magazine” label. He wants Time Inc. employees to think in terms of innovation, and — despite how much we love magazines — the word just doesn’t inspire.

“We want to build the next LinkedIn, the next Gilt, the next Facebook,” Havens added. “We have got really smart people and we need to let them use their brains.”

Time Inc. Sells Mexican Publisher

Time__Inc_-logo-2ED06AA15C-seeklogo.com_Time Inc. has sold Grupo Expansión (GEx) — Mexico’s second-largest publisher — to Southern Cross Group, a private equity firm. Time Inc. had acquired GEx in 2005.

Joe Ripp, Time Inc’s CEO, said the company sold GEx because it didn’t fit in its plans. “Time Inc.’s prime focus today is on growing core assets in the U.S. and U.K.,” said Ripp, in a statement. “Therefore, we believe GEx will have better opportunity to maximize its value under the ownership of Southern Cross.”

GEx’s brans include Expansión, Elle, Obras, Manufactura, IDC, Quién, Elle Decoration, InStyle, Accént, Aire, Gran Plan, Quo, Chilango, Life & Style, Metros Cúbicos, Travel + Leisure, Revolution, CNNExpansión, Mediotiempo, ADNPolítico and CNNMéxico.

Financial terms of the deal weren’t disclosed.

Gus Wenner Continues His Climb at Wenner Media

Rolling Stone logo GJann Wenner — founder of Wenner Media — likes what he sees in his son, Gus Wenner. One year after Gus was named rollingstone.com’s editor, he has been promoted once again — this time to head of digital. The younger Wenner will now oversee the sites for Rolling Stone as well as Us Weekly and Men’s Journal.

With the promotion, every other Wenner Media exec has officially had their dreams of climbing to the top of the company crushed. There is no stopping the 23-year-old Gus from taking over the company. It’s happening. Probably sooner rather than later. As Jann already said, “It’s a path open to him if he wants it.”

In other words, the only way Gus doesn’t become head honcho of Wenner Media is if he somehow decides he’d rather do something else. Perhaps that’s where the hope lies for Wenner Media execs. They could try to get Gus interested in something new — like archery! That could be fun! And Jann would probably buy Gus his first set (quiver?), which would make the transition easier. Good luck to you all.

Tribune Co. Sets Date for Media Division Spinoff

TribuneCoLogoChicago Tribune media reporter Robert Channick has the logical scoop on an important upcoming date for his parent company. We’re talking Monday August 4.

According to Channick, that’s the date Tribune Co. has set for completion of the spinoff of Tribune Publishing. From his item:

The spinoff date was included in a presentation for lenders conducted by Tribune Publishing June 17 in New York, according to sources. Tribune Publishing is seeking to raise $350 million in conjunction with its planned spinoff from Tribune Co.

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News Corp Sells Community Newspaper Group

cng logoNews Corp has sold Community Newspaper Group (CNG) — which publishes several New York papers and magazines, such as The Brooklyn Paper and The Bronx Times Reporter — to Les Goodstein and his wife, Jennifer Goodstein. The deal includes the print brands and their websites.

Les Goodstein is a former News Corp executive who also previously ran CNG. The Goodsteins own NYC CommunityMedia, publisher of The Villager, Downtown Express, Gay City News, East Villager News and Chelsea Now.

“Besides my love of newspapers, it was an honor to complete this transaction with News Corp I look forward to the continued success of the Community Newspaper Group” Goodstein said, in a statement. “Both my wife and I are members of the community and are pleased to continue serving the readers of Manhattan, Brooklyn, Queens and the Bronx. We plan to expand local coverage with local news important to the neighborhoods we serve.”

CNG’s publications include the aforementioned papers as well as Caribbean LifeBay News and Bay Ridge Courier, Bayside Times and TimesLedger. CNG’s magazines include FamilyWedding Guide and Sweet Sixteen.

Financial terms of the deal weren’t disclosed.

Pinterest Pins Fully Occupied San Francisco Building

The current Bay Area tech-company office boom appears set to squeeze yet another swath of San Francisco citizens.

SFDCLogo

Per a report in the Chronicle, Pinterest – which moved into the city in 2012 – has set its sights on larger digs in the Showplace Square Design District. The four-story SFDC campus building is currently fully occupied:

Dozens of tenants in the San Francisco Design Center building at 2 Henry Adams St. face likely eviction if the landlord is successful in obtaining the approvals needed to convert the 311,000-square-foot building into Pinterest’s headquarters.

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When Working, Henry Blodget Prefers to Stand

BusinessInsiderLogoAs Business Insider prepares to launch this fall its seventh international site – Business Insider UK – Guardian U.S. business correspondent Dominic Rushe caught up with CEO Henry Blodget in New York. Rushe’s article leads off with an intriguing, HB work habits reminder:

His desk is easy to spot in the open newsroom. It’s raised so he can spend the day working on his feet. The desks on either side are raised too. “That’s peer pressure for you,” he says.

He decided to stop sitting after reading articles on BI’s website about the health hazards. “More Terrifying Facts About How Sitting Will Kill You,” reads one. “ARE YOU SITTING DOWN? Watch Out! Your Job May Be Literally Killing You,” reads another.

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Time Inc. and Meredith Merger Rumor Returns

Now that Time Inc. is on its own, the rumor that the publishing house and Meredith Corporation will merge is popping up once again. According to The Street, Meredith might acquire Time Inc. as soon as next year:

Meredith could buy Time in the fourth quarter of 2015, Citi analyst Jason Bazinet predicted. The deal is not likely to occur before then because of the tax-free nature of the Tiime spin-off, the analyst believes. Time shareholders would probably receive $28 per share in a takeover and would have 40%-48% of Meredith’s equity following the deal.

The Time Inc./Meredith talks began last February. Despite plenty of discussions, the deal ultimately fell through when the two sides couldn’t come to an agreement on the fate of TimeFortuneMoney and Sports Illustrated. 

Regardless of what the Citi analyst thinks, earlier this month Joe Ripp —Time Inc.’s CEO — was blunt about the idea of a Time Inc./Meredith combo. “I’ve had no conversations with Meredith and I have no plans to talk with [Meredith's CEO] Steve Lacey in the near future,” Ripp said at the time.

Media reporters please note that the phrase “near future” is open to wild and rampant speculation.

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