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Posts Tagged ‘Dottie Mattison’

Sharon Waxman Paints Ugly THR Picture; Janice Min Responds

In the wake of Richard Beckman’s exit from Prometheus Global Media and replacement by Dottie Mattison, TheWrap’s Sharon Waxman digs into the finances of the east coast firm’s main media holding, The Hollywood Reporter. According to her unnamed sources, it’s not pretty:

TheWrap spoke to two individuals with knowledge of the company who say that The Hollywood Reporter will lose $6 million in 2012. That is not hard to believe, given the thin number of ad pages that populate the magazine most of the year.

To be sure, Hollywood likes the magazine, and credit goes to editor Janice Min for making it a lively, attractive read. But with only 12,000 paying subscribers – according to several insiders – out of what they claim is a circulation of 70,000, the business model is not working.

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Children's Picture Book Writing

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Richard Beckman Ankles THR Parent Company Prometheus

It makes sense that an outlet owned by Prometheus Global Media would break news of a significant though not altogether unexpected boardroom shuffle. On this lazy summer afternoon, perhaps in a deliberate bit of PR timing, first word of CEO Richard Beckman’s departure belongs to Adweek:

“I came to Prometheus with a strategic vision for the company and, having been fortunate to work with a group of talented individuals on these storied brands, I am proud of what we accomplished here over the last two and a half years. I wish them continued success in the future,” stated Beckman.

“Richard was an important part of our brands’ success in these past years, and we wish him all the best in the future,” stated James Finkelstein, chairman of Prometheus Global Media.

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