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Posts Tagged ‘Jack Griffin’

Morning Media Newsfeed: Disney Cuts 700 | FCC vs Shared Stations | Tribune Names CEO

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Disney Interactive Lays Off Roughly 700 (THR)
The Walt Disney Company has laid off approximately 700 employees at Disney Interactive, a company spokesperson confirmed. Prior to the layoffs, roughly 2,800 employees worked at the division, representing a cut of approximately 26 percent of its total workforce. Variety Cuts were expected, but not on this scale. They were anticipated to mostly affect Disney’s Playdom group, which produces games for social media platforms. A Disney rep said the layoffs will occur across the board in the business unit. Re/code Last month, Disney Interactive reported its second consecutive quarter of profitability after a long string of losses, credited to the success of Disney’s console game Disney Infinity. However, in tandem with the layoffs, the company will cease in-house console game development beyond supporting Infinity and publishing the as-yet-unreleased game Fantasia: Music Evolved, developed by Harmonix. New Disney games will instead be licensed out and developed by other studios. NYT Disney Interactive makes up a tiny piece of the Disney empire. The entertainment conglomerate as a whole had $1.84 billion in profit and $12.31 billion in revenue in its most recent quarter; Disney Interactive had operating income of $55 million on revenue of $403 million, according to financial filings. Reuters Disney’s games and online division has for years been a persistent money loser and a small but significant drag on a corporate empire that spans movie-making and television to cable network ESPN, theme parks and cruise lines. Last year, Disney Interactive lost $87 million as revenues rose 26 percent from 2012; the division has lost a total in recent years of more than $1 billion.

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Lauren Berger Writes New Book for Young People Entering "Real World"

Lauren Berger Welcome to the Real WorldCareer Expert, Lauren Berger, releases her second book, Welcome to the Real World: Finding Your Place, Perfecting Your Work, and Turning Your Job Into Your Dream Career (Harper Business), on April 22nd. In this book, Berger shares everything she wishes someone told her after graduation. Her book is the essential guide to anyone starting their first, second, or third job. She encourages readers to be fearless, step outside of their comfort zones, and go after what they want.

Former Time Inc. CEO Jack Griffin Named CEO of Tribune Publishing

Jack Griffin, the former CEO of Time Inc., has been named the new CEO of Tribune Publishing, the newspaper spinoff of Tribune Company. Griffin spent the last three years serving as CEO of Empirical Media, a consulting firm.

Tribune Publishing will include the Los Angeles Times, Chicago Tribune, Baltimore Sun, Sun SentinelOrlando Sentinel, Hartford Courant, The Morning Call and Daily Press. The spinoff is expected to be completed within the next few months.

“Tribune Publishing is home to some of the country’s most iconic print and digital brands and I’m honored to be able to help guide the evolution of the company to an independent business,” said Griffin, in a statement.

Execs at Tribune Publishing are surely hoping Griffin’s stint as CEO goes over better than his tenure at Time. Griffin joined the publishing house in August of 2010, and by February 2011 he was forced out.

Who Will Buy the Boston Globe?

For east coast media watchers, that’s a big question today, the deadline for getting a bid in to the Boston Globe‘s NYT parent company.

Emily Steel, U.S. media and marketing correspondent for the Financial Times, shared a definitive rundown Wednesday of today’s likely bidders. Today, it’s the turn of Stacey Vanek Smith, a senior reporter for Marketplace Morning Report:

Bids for the Globe are expected to be in the $100 million range. The New York Times company paid more than a billion dollars for the publication 10 years ago.

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Seven Buyers to Bid for Boston Globe

When The New York Times Company decided to put The Boston Globe up for sale, the list of rumored buyers almost immediately ballooned to about 700. Now, according to the Globe, that list has dwindled to seven.

With the June 27 deadline to submit offers looming, the following groups have emerged as likely buyers:

  • Jack Griffin and two members of the Taylor family
  • Former Globe president Rick Daniels and Heb Ryan
  • The Kraft Group, owner of the New England Patriots
  • Revolution Capital Group, a LA-based private equity firm
  • Najafi Cos., owners of the Phoenix Suns
  • Douglas Manchester, owner of the U-T San Diego
  • John J. Gormally Jr., Gormally Broadcasting

The Times company is looking to sell its New England Media Group, which includes the Globe and its web presence, but also The Worcester Telegram & Gazette and its site, the Globe’s direct mail business, and an almost 50 percent ownership of Metro Boston.

The Times bought the Globe in 1993 for $1.1 billion. The offers from the buyers listed above are expected to range between $70 and $120 million. That’s uh, close!

[Image: Newseum]

Todd Larsen Joins Time Inc.

Todd Larsen, the former president of Dow Jones who stepped down in June, is joining Time Inc. in a new role at the company. Larsen, according to Adweek, will be leading the combined Sports and News groups at Time, which were split under Jack Griffin.

Larsen was with Dow Jones since 1999, and had been its president since 2010.

Adweek speculates that with Larsen in place, Time magazine will soon add a publisher.

Larsen joining Time Inc. could also mean Mark Ford — who had previously overseen the combined Sports and News groups at Time Inc. — is on his way out.

Time Inc. Extends John Huey’s Contract

John Huey, Time Inc.’s Editor-in-Chief overseeing all of its magazines and websites, is getting more time with the company. The New York Post reports that Laura Lang, the company’s relatively new CEO, has decided to re-up his contract.

The decision is apparently going over well with the company’s execs. One of the reasons Jack Griffin didn’t last long at Time Inc. was that he made a lot of changes soon after coming aboard.

Laura Lang on Taking CEO Spot at Time: ‘I Have Always Trusted My Instincts’

(Via Adweek)

Now that Laura Lang is the new CEO at Time Inc., everything she says is going to be scrutinized a thousand times over. While that can be tedious for her, it’s fun for the rest of us, so let’s get started. Today, Lang spoke with Adweek, and gave a few insights into what she has planned for the company and what staffers can expect from her.

Lang said she wasn’t looking to leave Digitas, but the opportunity to be part of something so big was too exciting. She also said that she wasn’t deterred by the sudden firing of Jack Griffin because “I have always trusted my instincts — that great people and great brands always lead to great outcomes.” Griffin might not like that answer, but FishbowlNY thinks it’s great because Lang shifts the focus from the past to the present.

When Lang was pressed on her lack of publishing experience, she replied that what mattered was collaborating with others and listening to what the advertisers want. Again, a smart statement — money makes magazines move.

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Uncertainty at Time Inc. Leaves Some Worried

Despite rumors popping up every now and then, Time Inc. is still without a CEO nine months after Jack Griffin was fired. And since Jeffrey Bewkes said in July that none of the current trio is in line to take the top position, some staffers at Time Inc. are starting to get a little nervous about the void hurting the company in the long run.

The New York Post reports that the concerns center on the lack of a direction in the digital realm, and the worry that top level people will leave, or others will simply stay away. One insider explained, “Who is going to want to work for a company if it is not clear who your boss is or who your boss’s boss is going to be?”

The complaints are all valid, and it only puts more pressure on whoever is eventually tapped to take over. We wish that mystery person luck, because they’re definitely going to need it.

Time Inc. Looking Outside for New CEO

It seems like the terrific trio at Time Inc. that has been manning the ship since Jack Griffin was forced out isn’t that terrific after all. According to The New York Post Time is now looking for a new CEO, but it’ll be someone from the outside; preferably someone who once worked at Time.

None of the three that replaced Griffin – which includes John Huey, Howard Averill and Maurice Edelson - are being considered for the job:

‘We felt and I felt that we have good management underneath that can work in a team effort,’ [Time Warner CEO] Jeff Bewkes said at the company’s shareholders meeting several weeks ago. ‘Some of them are here today. And they’re doing a very excellent job. But the agreement that we made, between the three of them and us, was that they are not candidates for the CEO job.’

That’s the agreement that they all made? Uh, right. We would’ve have loved to be a fly on the wall (or a fish in a bowl!) for that conversation.

Bewkes: “Okay, so you all agree with me that we need to hire someone outside and that none of you are capable, or even want, to handle this promotion, which comes with a power and pay increase?”
Huey: “Sounds great boss!”
Averill: “Why would I want more money? That’s ridiculous.”
Edelson: “I’m completely content with not advancing my career!”

John Q. Griffin Departs Time Inc.

John Q. Griffin, one of Jack Griffins hires, is leaving his post as President of the News Group at Time Inc. The move, according to paidContent, is amicable.

John Q. had been with Time for just under six months. He tells Adweek that he’s uncertain about what the future holds, explaining that he plans to “just read a little bit and have some fun. I hope I’m not done.”

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