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Posts Tagged ‘CNN’

Morning Media Newsfeed: NYT Profit Plummets | Twitter Beats Street, Stock Soars

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NYT Profits Plummet 21 Percent (FishbowlNY)
As usual, the New York Times’ earnings report features both good and bad news. While the Times’ digital subscriptions continued to grow, the lack of print ad dollars weighed the paper down. HuffPost / AP The New York Times Co. on Tuesday reported earnings that declined by 54 percent in its second quarter, and missed analysts’ expectations. The New York-based company said net income declined to $9.2 million, or 6 cents per share, from $20.1 million, or 13 cents per share, in the same quarter a year earlier. Financial Times Adjusted operating profit, which strips out some one-time items including retirement costs and depreciation, fell 21 percent to $55.7 million. A fall in advertising sales and stepped-up investment in digital products sapped second-quarter profit at the Times as the publisher forecast flat circulation revenue and further declines in advertising in the coming months. Poynter / MediaWire The Times added 32,000 digital subscribers in the second quarter of 2014. The number was driven by its new products — the NYT Now and NYT Opinion apps and the new Times Premier subscription tier. Paid digital-only subscribers now total 831,000, the company said. Revenue from those subscriptions jumped 13.5 percent, to $41.7 million, from the same period a year ago. Total circulation revenue increased 1.4 percent. Mashable During the quarter, the company’s flagship newspaper fired top editor Jill Abramson and replaced her with former managing editor Dean Baquet. A Times spokesperson said at the time that Arthur Sulzberger Jr., publisher of the Times and chairman of The New York Times Company, was spurred by a desire to change how the newsroom was managed.

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Rachel Smolkin Named Exec Editor of CNN Politics

Rachel Smolkin is leaving her spot as Politico’s managing editor for news to join CNN as its executive editor for politics. Smolkin had been with Politico since 2011. She previously worked for USA Today and American Journalism Review.

“Rachel will spearhead a new effort to create a digital product in Washington to provide our audiences with more news, more context and more insight about politics than ever before,” wrote CNN’s senior VP, Andrew Morse, in a memo to staffers. “She will work closely with Sam Feist and all of our teams in the DC Bureau to harness the very best reporting from our anchors, programs, reporters and producers.”

Smolkin will join CNN this week.

Michael Wolff: NY Times Should Buy CNN

CNN304x200Michael Wolff has an interesting take on who/what should buy CNN should it ever be up for sale: The New York Times. Well, Wolff wrote that the “most obvious buyer is CBS,” but his runner-up is the Gray Lady.

Before you laugh this off, it’s actually an interesting idea. Wolff says the partnership would benefit both brands. The Times would gain the much needed ad dollars that come with TV. Meanwhile, CNN will finally be seen as a respectable news company if it has to maintain the standards set by the Times.

“In that combination, news, increasingly devolving from platform specificity, takes a major leap forward by creating a quality news company widely distributing its product through all outlets,” explained Wolff. “Television can’t do quality news, but it has great profits. Print still has high news standards, but ever-dwindling profits — so voila!”

Voila! Now let’s make this happen.

Morning Media Newsfeed: BuzzFeed Editor Fired for Plagiarism | Palin Launches Channel

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BuzzFeed Fires Staffer for 40 Instances of Plagiarism (FishbowlNY)
It looks like the magic number was 40. BuzzFeed has decided to fire its viral politics editor, Benny Johnson, after finding that many instances of plagiarism in his work. FishbowlDC A note to editorial staff sent Friday evening from BuzzFeed editor-in-chief Ben Smith announced that the website has parted ways with Johnson after identifying “40 instances of sentences or phrases copied, word for word, from other sites, many of them inappropriate sources in the first place.” Capital New York Earlier last week, a pair of Twitter users called into question several of Johnson’s posts that had taken phrases and sentences from sources including About.com and National Review. Smith said Friday that editors were reviewing Johnson’s work. Poynter / MediaWire In his note to readers, Smith wrote that the plagiarism constituted “an act of disrespect to readers” and that Johnson’s editors were “deeply embarrassed and sorry” for misleading BuzzFeed’s audience. HuffPost Smith said BuzzFeed would correct every post where plagiarism was found and add editor’s notes to them. Johnson was previously with Glenn Beck’s The Blaze and has also written for Breitbart News.

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Morning Media Newsfeed: WaPo Reporter Detained in Iran | Bloomberg Hires Topolsky

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WaPo Reporter, Other Journalists Appear to Have Been Detained in Iran (The Washington Post)
Three American citizens, including the Washington Post’s correspondent in Iran, appear to have been detained this week in Tehran, U.S. officials and the newspaper said Thursday. FishbowlDC Jason Rezaian and his wife, Yeganeh Salehi, are among four individuals — including two unnamed American freelance photojournalists — detained without explanation. Mediaite Salehi, an Iranian citizen, works for a paper out of the United Arab Emirates. The Post does not know why they were detained or by whom; Rezaian’s family has not issued a comment. The State Department said it was aware of the incident but revealed no further information. HuffPost Rezaian has been based in Iran since 2008 and with the Post since 2012. He most recently reported Friday from Vienna on talks over Iran’s nuclear program. Laura Rozen, a reporter with Al Monitor, tweeted that she saw Rezaian on Saturday and that he was planning to fly back that night to Tehran. NYT Hamid Babaei, a spokesman for Iran’s mission to the United Nations, said it, too, was “following up on the case” and would notify reporters when it had any news. The Committee to Protect Journalists, a press freedom advocacy group, called on the Iranian authorities to explain their actions, and to release those it was holding. The U.S. does not have diplomatic relations with Iran. The Swiss government, which has an embassy in Tehran, acts on behalf of American citizens in the country.

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Morning Media Newsfeed: Major Changes Hit Condé Nast | MTP May Oust Gregory

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Major Executive Changes at Condé Nast (FishbowlNY)
Big changes have just hit Condé Nast. Editorial director Tom Wallace and COO and CFO John Bellando are both leaving the company, while David Geithner — a former veteran of Time Inc. — is joining as CFO. Capital New York Wallace, who had previously served as editor-in-chief of Condé Nast Traveler, had been editorial director since 2005, helping to craft a consistent brand across the company’s many glossies and its many special editions. WWD / Memo Pad Several other major management changes were revealed, including the expansion of responsibilities of Robert A. Sauerberg Jr., president of Condé Nast. According to a memo, Sauerberg “will assume a leading role in all revenue generation activities, including taking direct responsibility for the Condé Nast Media Group, as well as brand revenue growth.” This will expand his areas of responsibility beyond the management of digital, technology, consumer marketing, business development, corporate administration and Condé Nast Entertainment. THR Bellando joined the company’s executive ranks in 1999. Geithner had spent more than two decades at Time Inc. prior to the appointment at Condé Nast. Most recently, Geithner served as the EVP and president of Time Inc.’s Entertainment Group, and exited the company earlier this year as part of the reorganization prior to the spinoff of the publisher from Time Warner. Time Inc. chairman and CEO Joe Ripp announced Geithner’s departure in a memo on Feb. 4, singling out his contributions to People, Entertainment Weekly and InStyle. WSJ The changes come as Condé Nast, a unit of Advance Publications Inc., is pushing to capture more digital related advertising dollars. Earlier this month, Condé Nast launched a new online video hub called The Scene, intended to serve as a home for all its video channels, including original programming such as The Single Life and Strictly Ballet.

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Morning Media Newsfeed: Murray Named Fortune Editor | Gunshots Fired at AJ Bureau

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Alan Murray Named Editor of Fortune (FishbowlNY)
Alan Murray has been named the new editor of Fortune. He will be just the 17th editor of the glossy, which was founded in 1930 by the legendary Henry Luce. TVNewser Murray joins the Time Inc. publication following a short stint as president of the Pew Research Center. Murray was CNBC’s Washington bureau chief from 2002 to 2005, where he co-hosted Capital Report With Alan Murray And Gloria Borger. Borger is now with CNN. FishbowlDC Murray joined Pew as president in November 2012. In addition to WSJ bureau chief, he served as deputy managing editor and executive editor of online for the Wall Street Journal. Capital New York Murray replaces longtime Fortune editor Andy Serwer, who is leaving Time Inc. after 29 years. Serwer spent eight years running Fortune, which is one of the company’s most prominent brands along with Time, Sports Illustrated, People and Entertainment Weekly. HuffPost Murray will remain at Pew until Aug. 1. He said that Jim McMillan, general counsel and corporate secretary at the Pew Charitable Trusts, will then take over as “acting president” while the company searches for a new leader.

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Morning Media Newsfeed: Forbes Sells Majority Stake | Kindle Unlimited Unveiled

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Forbes Media Sells Majority Stake to Hong Kong Investor Group (FishbowlNY)
In the past six years, Forbes has expanded its international publishing reach from nine licensed local editions to 36. Content is now consumed in 63 countries, in 21 different languages. Friday, the company solidified its international reach with the announcement that a majority stake has been sold to a group of Asian investors. NYT / DealBook The terms were not disclosed, but the transaction values Forbes Media at $475 million, said a person close to the deal. Forbes’ new controlling shareholders will be Integrated Whale Media Investments, a group that includes the Hong Kong investor Tak Cheung Yam and Wayne Hsieh, the Singaporean co-founder of AsusTek Computer. Forbes The Forbes family will retain a significant ownership stake, will stay actively involved in Forbes Media and will work with the investor group to further increase market share of the existing Forbes Media product lines in media, digital, technology, as well as brand extensions. Upon closing, Elevation Partners will fully exit its investment in Forbes Media. Mashable In a statement, the family and its new majority owners framed the deal as a way to ensure Forbes‘ brand and journalistic operations continue to expand. “Our partners respect our brand and values, and support our longstanding mission of championing entrepreneurship and free market capitalism through quality, independent business journalism,” Steve Forbes said in a statement. Capital New York Forbes Media will remain headquartered in the U.S., and there will be no change at the top — Steve Forbes will continue as chairman and editor-in-chief, and Mike Perlis will remain CEO. The company reported that it made a profit in 2013; the company projected a revenue of $144.6 million for the year, according to a report.

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Morning Media Newsfeed: Microsoft to Cut 18,000 Jobs | Aereo Faces Setback

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Microsoft to Lay Off 18,000 Workers, Largest Cuts in History (SocialTimes)
Over the next year, Microsoft is eliminating 18,000 jobs, or as much as 14 percent of its workforce. CEO Satya Nadella wrote a public email to company employees on Thursday saying “every team across Microsoft must find ways to simplify and move faster, more efficiently.” He said that he would give more details on Tuesday, when Microsoft reports its fiscal 2014 results. Deadline Hollywood The layoffs will hit hardest at the Nokia Devices and Services phone handset business, acquired in April. “We are moving now to start reducing the first 13,000 positions, and the vast majority of employees whose jobs will be eliminated will be notified over the next six months,” Nadella said in the email Thursday. Microsoft expects the restructuring to result in as much as $1.6 billion in pre-tax charges over the next four quarters. That will include as much as $800 million for severance and related benefit costs, and up to $800 million in asset-related charges. Variety Microsoft is also getting out of developing original series for its Xbox gaming platform and will close Xbox Entertainment Studios in the coming months. Xbox chief Phil Spencer announced Xbox Entertainment Studios will shutter and that some projects in development and production, including a live-action Halo series, will still be produced. New York Post / Reuters The studio, set up in 2012 under then-CEO Steve Ballmer, said in April it had committed to several projects including Humans, a drama co-produced with U.K. broadcaster Channel 4, and Halo. NYT While Microsoft still makes profits that executives at other companies would be ecstatic to have, it has been beaten on the biggest new trends in tech, including mobile, Internet search and cloud computing. As a result, it is regularly left out of conversations about companies defining the next generation of technology, outflanked and overshadowed by companies like Apple, Google, Facebook and Amazon.

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Morning Media Newsfeed: News Crews Witness Airstrike | Time Warner Stock Surges

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NBC News Crew Witnesses Gaza Airstrike (TVNewser)
NBC News correspondent Ayman Mohyeldin and his crew witnessed an Israeli airstrike that killed four children at a port in Gaza Wednesday. Mohyeldin, who was also caught in the crossfire as Israeli soldiers fired rubber bullets on crowds in East Jerusalem earlier this month, called in to the West Coast edition of Today to describe what he saw, saying it was “a chaotic scene.” TVNewser Hours later, it was chief foreign correspondent Richard Engel who reported the story for Nightly News. FishbowlDC On Wednesday afternoon’s The Lead With Jake Tapper, the CNN host spoke over the phone with the Wall Street Journal’s Middle East correspondent Nick Casey for what proved to be a very intense interview. Casey was located near where the strike took place. Mashable The four children were killed by Israeli airstrikes that hit in close proximity to al-Deira Hotel, a Gaza City hotel full of foreign journalists. The attack came at around 4 p.m. local time and appeared to be the result of a naval shell. At least two additional children were injured, according to local reports. THR The BBC has defended its coverage of the latest Israeli air strikes in Gaza among accusations that the British public broadcaster is too pro-Israeli in its reporting on the region’s escalating conflict. The conflict has been the subject of extensive BBC news coverage, but a prominent pro-Palestine group claims the broadcaster’s programs have been systematically “entirely devoid of context or background.” The Palestine Solidarity Campaign posted an online open letter to BBC director general Tony Hall criticizing the broadcaster for not illustrating what it considers key aspects of the conflict.

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