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Posts Tagged ‘Media General’

Morning Media Newsfeed: Turner to Cut 10% of Staff | Politico Names Executive Editor

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Turner to Cut 10 Percent of Workforce (TVNewser)
As part of Turner 2020, the cost-cutting and reorganization plan announced earlier this year, the parent company of CNN, HLN, TBS and others has announced it plans to cut 1,475 jobs. CNNMoney Turner Broadcasting, a unit of Time Warner Inc., will cut its total workforce by about 10 percent in the coming weeks through a mix of buyouts, layoffs and other measures, the company said Monday. Capital New York The headcount reduction will include buyouts of staff over the age of 55, layoffs and unfilled open roles. Staff that will be laid off will be informed within the next two weeks. That number also takes into consideration the addition of 150 new jobs in “growth areas” at the company. THR The cuts will come at all levels from across the news, entertainment, kids, young adult and sports networks and businesses as well as corporate functions, in 18 Turner locations around the world. About 300 positions will be eliminated within CNN Worldwide, or about 8.5 percent of the roughly 3,500-strong workforce. WSJ This summer, Time Warner rebuffed a takeover bid from 21st Century Fox Inc. Time Warner CEO Jeff Bewkes is under pressure to show Wall Street the company can deliver growth — and a higher stock price — on its own.

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Morning Media Newsfeed: Obama Honors Foley | Afghanistan Expels NYT Reporter

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Obama: Foley Execution ‘Appalled’ the Entire World (TVNewser)
President Obama took the podium Wednesday in Martha’s Vineyard to speak about James Foley, the American journalist who was beheaded by ISIS in a video released Tuesday. The United States Wednesday morning verified the authenticity of the video, which also shows another captive American journalist, Steven Sotloff, and warns that he will be next to die. FishbowlDC Obama said, “No just God would stand for what they did yesterday or every single day… People like this ultimately fail. They fail because the future’s won by those who build and not destroy. The world is shaped by people like Jim Foley.” ABC News, CBS News, NBC News, FOX News, CNN, MSNBC and Al Jazeera America all broadcast Obama’s statement live. NYT Obama declared on Wednesday that the entire world was “appalled” by the videotaped beheading of Foley by Islamic militants, speaking as American warplanes conducted 14 airstrikes in Iraq and the State Department asked the Pentagon to send as many as 300 more American troops to Iraq for security. Mashable Obama sent U.S. troops to Syria earlier this summer to rescue a number of Americans held by a violent extremist group, including Foley, but the troops did not find the hostages, senior Obama administration officials said Wednesday. The officials said the rescue mission was authorized after intelligence agencies believed they had identified the location inside Syria where the hostages were being held. HuffPost Associated Press CEO Gary Pruitt condemned the murder of journalist Foley in a statement on Wednesday. His murder should be treated as a war crime, according to Pruitt. Foley went missing in Syria in 2012. He contributed to the GlobalPost and Agence France-Presse, among other media outlets. TVNewser CBS’s Clarissa Ward changed her profile picture, Fox News’s Conor Powell remembers him as “a great guy,” while Al Jazeera journalist Mohamed Fadel Fahmy, himself imprisoned in Egypt, says Foley’s murder “will spark a revolution against terrorists.” These are just some of the ways those who knew and worked alongside the intrepid journalist are remembering their colleague killed by ISIS militants.

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Morning Media Newsfeed: Separatists in Ukraine Seize TV HQ | CNN Raises Ethical Questions | Gregory Slams Report

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Separatists Seize Control of TV HQ in East Ukraine City (Reuters)
Pro-Russian separatists on Sunday seized control of the offices of regional state television in the eastern Ukrainian city of Donetsk and said they would take it off air and broadcast a Kremlin-backed Russian channel instead. Sky News Four men wearing masks and armed with truncheons were standing at the entrance to the building in Donetsk, while more separatists could be seen inside wearing camouflage fatigues. The regional governor’s office and the city hall in Donetsk have already been seized by separatists. NBC News About 15 police officers were standing a short distance away but were not trying to resist the separatists. A crowd of around 400 people surrounded the building and shouted “Russia!” and “Referendum!,” a reference to a vote the separatists want to hold on seceding from Ukraine. The protesters later drifted away, but the separatist guards on the doors remained. One of the masked men at the entrance, who asked why the building had been seized, said: “They show lies; they try to influence the people and they broadcast misinformation.” The Guardian The station’s shaken director, Oleg Dzholos, emerged soon afterward to say that the separatists had brought with them a technician who was turning off Kiev television and replacing it with Rossiya 24. The Russian state channel calls Ukraine’s pro-western leaders “fascists” and frequently runs montages of them with footage of the Nazis. “We hope to continue broadcasting,” Dzholos said. His staff of 250 would be back at work on Monday morning, he said. WSJ Sunday’s incident marked an escalation in the struggle between pro-Russian protesters who want to turn Ukraine’s industrial heartland into a sovereign republic and Kiev’s interim government, which has tried, without success, to defeat a separatist rebellion that threatens the unity of the country. Ukraine accuses Russia of stirring up the separatist unrest by broadcasting strident anti-Kiev views on Russian television channels and by sending covert operatives to help organize the insurgency, particularly in Slovyansk, a city north of Donetsk that has been taken over by heavily armed gunmen. Moscow denies any role.

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Morning Media Newsfeed: TV Station Mega Merger | Pakistan Censors NYT | Apple Taking on Spotify?

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TV Station Mega Merger: Media General, LIN Set $1.6 Billion Deal (Variety)
Station groups Media General and LIN are poised to merge in a $1.6 billion cash and stock deal that will create the nation’s second-largest pure-play broadcast group. With LIN’s roughly $1 billion in debt included, the deal has an enterprise value of $2.6 billion. TVSpy The deal will bring together 74 stations which are either owned or operated by the two companies in 46 markets. Combined, the new company’s stations will reach 23 percent of U.S. TV households. THR The deal is the latest in the ongoing consolidation of the TV station business as broadcasters have looked for scale to strengthen them in dealings with networks and pay-TV operators and the like. Poynter / MediaWire It is just the latest in a flurry of acquisitions and mergers in the TV industry that has seen Belo broadcast and Gannett merge and earlier, Media General and Young Broadcasting combined forces. Other players including Meredith, Journal, Tribune, NBC Universal and Sinclair have been recent buyers, too. WSJ Greater scale should help the combined company garner higher revenue from fees it charges pay-TV providers to carry its signal, known as retransmission fees. It should also gain leverage in negotiations with media companies. These factors, plus the ability to expand LIN’s digital advertising business and savings from corporate overheard, underpin the companies’ projected $70 million in run-rate synergies over three years.

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Media General Cuts 75

Media General, the company that sold 63 papers to Warren Buffett’s Berkshire Hathaway in May, is dropping 75 staffers.

According to a memo obtained by Jim Romenesko, the cuts were coming from “corporate staff departments and in the digital media section of the Growth and Performance group.”

“Affected employees are being notified effective today; however, certain positions will have a deferred termination date between now and the end of the year for various business reasons,” wrote Media General’s CEO, Marshall Morton, in the memo.

For more, head over to Romensko’s site.

Warren Buffett Buys 63 More Newspapers

Let the record show that when Warren Buffett says he’s considering something, it means he’s definitely doing it. Buffett’s Berkshire Hathaway Media Group just announced that it is buying 63 daily and weekly newspapers from Media General for $142 million in cash. It was only last week when Buffett said that he “may buy more newspapers,” so he obviously had this purchase in mind already.

The papers involved in the deal — which is expected to close June 25 — are published in Virginia, North Carolina, South Carolina and Alabama. The acquisition also includes all of the papers’ digital brands and tablet apps. The only property not being sold to Berkshire Hathaway is Media General’s Tampa group.

In a statement, Buffett once again trumpeted the power of newspapers. ”In towns and cities where there is a strong sense of community, there is no more important institution than the local paper,” he explained. “The many locales served by the newspapers we are acquiring fall firmly in this mold and we are delighted they have found a permanent home with Berkshire Hathaway.”

Since we’re big newspaper fans, we might just send Buffett a thank you note.

Possible Job Cuts Ahead As Media General Mulls Consolidation

media general.jpgOur sister blog MediaJobsDaily has a tip that publisher Media General is “planning to consolidate the copy-editing and design functions for most of its papers into a central location, which would ultimately end in reducing staff.”

Media General owns 21 daily newspapers and more than 200 specialty publications, including community weeklies (some of which are already being edited out of a central location, says MediaJobsDaily), and employs more than 5,000 staffers company-wide. A consolidation of this kind would likely affect quite a few.

MediaJobsDaily: Rumor: Media General Plans To Consolidate Copy Editing, Designing, Thus Cutting Jobs