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Posts Tagged ‘Michael Wolff’

Michael Bloomberg Is Maybe Buying The Not-For-Sale Financial Times

All the way back in February of this year, Michael Wolff speculated that Michael Bloomberg was considering purchasing The Financial TimesHowever, a spokesperson for the FT quickly shut the door on that, when he told us that the paper “is not for sale.” Then in October, more rumors about Pearson putting the salmon business paper on the block emerged. Now the New York Times is again bringing up the Bloomberg - FT connection.

Citing “three people close to Mr. Bloomberg,” the Times reports that Bloomberg — along with Reuters, which Wolff called as well — is weighing the pros and cons of buying the FT. Apparently Bloomberg has been caught appreciating the paper and its layout quite a few times, and in typical Bloomberg fashion, even joked about how he’s one of the few people who would even consider purchasing a newspaper in today’s digitally-focused world:

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Leveson Report Suggests News Corp. Cover-Up

The phone hacking scandal report from Judge Brian Leveson, who examined an exhaustive amount of evidence, proposes that News Corp. actively covered up information about the incident. According to Bloomberg News, the 2,000 page report explains that when News Corp. was presented with the hacking claims, it didn’t do nearly enough to investigate them.

“Questions were there to be asked and simple denials should not have been considered sufficient,” explained Leveson, in his report. “This suggests a cover-up by somebody and at more than one level.”

If you’ve been following the phone hacking story, this will come as little surprise to you. But despite Leveson’s claims, it’s worth wondering if anything will change, and if anyone actually wants it to; at least the way Leveson suggests.

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Michael Wolff on Tina Brown: ‘Blind to The Realities of the New World’

Michael Wolff debuts his new USA Today column by taking time to absolutely blast Tina Brown and Newsweek/The Daily Beast. It’s a tired subject, and it would’ve been nice to see something more interesting from Wolff. Oh, and let’s go ahead and take a moment to note the irony of Wolff attacking Brown and the quality of her publication in a USA Today column.

Okay, now for Wolff’s rants:

The most famous magazine editor of her generation is engaged in a desperate and operatic struggle, which almost no one anywhere believes has any chance of success…

“No one anywhere.” That about covers it. But there’s more:

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Bloomberg and Reuters Rumored to Be Vying for Financial Times

Michael Wolff , writing for The Guardian, says that Bloomberg and Reuters are both competing to acquire The Financial Times. A ”senior executive” at Reuters told Wolff that FT had recently turned down an offer from Bloomberg, but it was “in clear discussions” with Reuters.

Wolff explains that gaining the paper would make sense for either company:

It is certainly true that neither Bloomberg nor Thomson Reuters need a newspaper — and yet it is true, too, that it could change the game were one of them to get a major financial news organ (so much so that each would probably do what is necessary to try to prevent the other from getting one — vastly enhancing the value of both the FT and WSJ). Indeed, while neither Pearson nor News Corp are ever going to turn the FT or WSJ into significant earners, Bloomberg and Thomson Reuters, with their back-end financial information resources, might be able to build a powerful and profitable financial news front end.

He does concede that because the talks are — according to his source — “at an informal level of discussion,” any deal might be far off.

UPDATE:
A Pearson spokesperson emailed us and denied the rumors. ”The FT is a very valued and valuable part of Pearson,” wrote the spokesperson. “It is not for sale.”

Michael Wolff to Join U.S. Guardian

Michael Wolff has a new stomping ground: The Guardian, stateside.

Anthony De Rosa, Reuters’ Social Media Editor, just tweeted that Wolff will be covering “media, tech, publishing and politics,” and that his first column will debut tomorrow.

Wolff simply said, “Yup. Hanging my hat at the Guardian.”

Guess What? Michael Wolff is Out at Adweek

That’s right. After all the rumors and the denying of rumors, it is now official: Michael Wolff is out at Adweek. The magazine is reporting that Jim Cooper, the Executive Editor, will oversee operations effective immediately. It appears that Wolff decided to leave, judging from his tweet (“Long goodbye done“) and his comment:

I’ve had a fantastic time at Adweek. It’s been my privilege to be part of the brilliant transformation of the magazine and site. I can’t rave enough about Adweek’s remarkable staff. I am sad to leave but sure the talent here will continue to do great things. I’m grateful to everybody at Prometheus for giving me this opportunity and this wonderful year.

In a letter to readers, Cooper said that Adweek will remain largely the same, though the overt mention of “the industry” does make us wonder if the magazine is headed back to its roots:

Now, six months into its re-launch, as media, advertising and marketing continue to experience rapid and exciting transformation, Adweek is well positioned to continue to be the leading news brand in the space. We will continue to be fast to break news, analyze that news with authority and allow the industry’s voice to be heard through the magazine’s pages and Adweek.com.

Most Popular FishbowlNY Stories for the Week

Here’s a look at what FishbowlNY stories made the most buzz this week.

  1. Breaking: Jim Watkins Fired From WPIX, September 30
  2. Jill Nicolini Welcomed in Her WNYW Debut, October 3
  3. With Jim Watkins Out at WPIX, Kaity Tong Takes Weekends, September 30
  4. Fortune Lists 50 Most Popular Women in Business, September 30
  5. WABC/Channel 7 Moves on Without Gil Noble, Like It Is, October 3
  6. The Economist to Host a Trivia Night, October 3
  7. Michael Wolff is Not Being Fired After All, October 4
  8. An Addition to the WCBS/Channel 2 Weather Team, October 4

Keep up-to-date with the latest FishbowlNY news. Click here to sign-up for the FishbowlNY daily newsletter, bringing you our articles each afternoon directly to your inbox.

When One Michael Wolff Rumor Dies, Another is Born

Last Friday we told you that Adweek’s Michael Wolff wasn’t getting fired even though there were lots of rumors swirling that he was. Well now that the “Wolff is dead” gossip has dissipated, WWD has started a new one: Wolff isn’t being fired, but now he might quit!

An “insider” told WWD, “Michael talked to Jimmy [Finkelstein]. Jimmy said he is not firing Michael and is confident they can work out their differences. Michael seems less confident.” Dun dun dun!

The story — that Finkelstein wants Adweek to go back to its roots and Wolff wants the title to explore more — remains the same, and Wolff has never mentioned wanting to leave, but hell, why not start up another rumor? It’s certainly more exciting than the truth.

Michael Wolff is Not Being Fired After All

It turns out that the rumors of Michael Wolffs demise have been greatly exaggerated. PaidContent reports that Jimmy Finkelstein, the Chairman of Adweek’s parent company, Prometheus — and supposedly the main guy behind the push to fire Wolff — supports the controversial editor.

“Michael’s name is still on the masthead,” said Finkelstein. “He’s not being fired. If I were going to fire someone, it would not be in the pages of the magazine or a news site. We do have differences, but we’re working through them to continue to build Adweek.” Finkelstein even praised Wolff for helping boost Adweek.com’s traffic since the redesign.

So basically everything that was rumored to have happened ended up not being true. And Wolff had to sit through all of it. There really is no rest for the weary.

More Michael Wolff, Adweek Rumors

The New York Post has some more gossip regarding Michael Wolff and Adweek. Apparently one of the magazine’s investors, Jimmy Finkelstein, is leading the charge to get rid of Wolff, so much so that even Wolff is expecting to be fired soon. Finkelstein is looking to return Adweek to its advertising roots, so word is he’s looking directly at Ad AgeAdweek’s biggest rival — for Wolff’s replacement.

Wolff is still scheduled to speak at a number of events starting on Monday (which, cruelly, is his one year anniversary at Adweek) for Advertising Week, so perhaps he’ll be around for a little bit longer.

There’s also some buzz that Wolff might not be the only one getting the axe. Adweek’s Publisher, Erica Bartman, is getting flak for ad sales dropping after the redesign launched.

Happy Friday everyone?

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