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Posts Tagged ‘All3Media’

Morning Media Newsfeed: Freedom Shutters LA Register | ISIS Releases Journalist Video

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Layoffs Hit Freedom Communications as It Ceases Publication of LA Register (LA Times)
Layoffs hit the Orange County Register on Tuesday after owner Freedom Communications ceased publication of its Los Angeles daily five months after it debuted. TheWrap A spokesperson for the LA Register said that 29 newsroom positions have been eliminated as a result of the paper’s shutdown. An unspecified number of employees will be transferred to the Orange County Register. WSJ / CMO Today The owner of Freedom Communications Inc., Aaron Kushner, who turned heads last year when he announced he was launching the daily newspaper, admitted Tuesday that the move was a failure. “As strong a newspaper as our team produced, our business model is a virtuous circle,” Kushner said in a statement. “If the support is not at a level that matches our investment, we have to adapt and make adjustments as we’ve done today.” HuffPost / AP Freedom said it will focus on markets in Orange, Riverside and San Bernardino counties. It owns the Riverside Press-Enterprise, which it bought in November for more than $27 million. NYT The LA Register ceased publication with its Monday issue. Monday evening, Kushner sent a memo to his employees announcing the news. An article about the shutdown ran on the newspaper’s front page.

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Morning Media Newsfeed: Apple to Buy Beats | Time Inc. Spin-off Set | House Questions Comcast Merger

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Apple in Talks for $3.2 Billion Beats Deal (Financial Times)
Apple is closing in on its largest ever acquisition with the planned $3.2 billion purchase of Beats Electronics, the headphone maker and music streaming operator founded by music producer Jimmy Iovine and the hip-hop star Dr. Dre. The deal could be announced as early as next week, people familiar with the negotiations said, but they cautioned that some details had yet to be agreed upon and talks could still fall apart. GigaOM While Beats Electronics is best known for its premium headphones, it launched a streaming music service, Beats Music, in January. According to the report, the streaming service would be included in the deal. Apple runs its own streaming music service, iTunes Radio. NYT / DealBook For Apple, whose revenue growth has slowed sharply in the last few years, the deal could point to a headlong move into the frontier of streaming music. iTunes Radio has been slow to enter the streaming world. At over $3 billion, the Beats acquisition would be a major departure for Apple, which under Steve Jobs favored smaller deals. CNET Beats Music debuted with a powerful billing and marketing partnership with AT&T and it has reportedly been growing quickly. Although the company has yet to disclose hard and fast subscriber numbers, industry estimates peg the total at about 200,000. The talks come as trends in music purchasing are shifting to subscription services. Data from the Recording Industry Association of America found that paid subscription services grew the fastest of all digital formats last year, rising to 57 percent, while revenues from permanent digital downloads that are iTunes’ specialty declined 1 percent. Mashable Apple has ramped up its pace of acquisitions in recent months. CEO Tim Cook has said in the past that he’s open to the idea of making 10-figure acquisitions. Apple stock was down by a little less than 0.5 percent in after-hours trading following the report.

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