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Posts Tagged ‘NBCNews.com’

Morning Media Newsfeed: Gore Sues Al Jazeera | MTP Pays Tribute to Gregory

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Al Gore Sues Al Jazeera Over $500 Million Current TV Deal (Bloomberg)
Former U.S. Vice President Al Gore has sued Al Jazeera, claiming the satellite news provider owned by the Qatari royal family owes him and a partner $65 million from a deal to buy his network, Current TV. TVNewser “Our outside counsel is reviewing the complaint,” an Al Jazeera spokesperson said. “We think it relates to a commercial dispute between former shareholders of Current Media and Al Jazeera America. We may have further comment once they’ve fully reviewed everything.” Politico / Dylan Byers on Media Gore and business partner Joel Hyatt, the co-founders of Current Media, say that Al Jazeera has unlawfully refused to turn over tens of millions of dollars currently located in an escrow account. That money is owed to Current Media shareholders per the terms of the $500-million merger agreement made in January 2013, the plaintiffs say. New York Post Gore, 66, was set to personally pocket an estimated $100 million on the sale of his 20 percent stake in the network, which he helped found in 2004. Mediaite In a statement, Gore’s lawyer said, “Al Jazeera America wants to give itself a discount on the purchase price that was agreed to nearly two years ago. We are asking the court to order Al Jazeera America to stop wrongfully withholding the escrow funds that belong to Current’s former shareholders.” It should be noted that last year, Gore himself was sued for the sale of Current TV.

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Morning Media Newsfeed: Time Inc. Lays Off 500 | Carvin Joins FLM | NBCNews.com Launches

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Staff Out of Time: Cutbacks Begin at Top, Dozens More to Come (NY Post / Media Ink)
The cutbacks began Tuesday as expected at Time Inc. and they took a heavy toll among some of the top-echelon executives as the magazine publisher abolished its three-cluster system centered around brands and put everything into one pot. One source said that while the number of cuts did not hit 500 on Tuesday, that was only because a lot of the pink slips will rain down over the next several weeks or months as the reorganized company makes moves to be spun off from Time Warner. FishbowlNY Time Inc. employs about 7,800 people. Should the 500 number be correct, it will be about the same as the massive cuts implemented by Laura Lang — the publishing house’s former CEO — about a year ago. Ad Age / Media News Tuesday’s layoffs mark the second downsizing at Time Inc. in a year. But the latest round of cuts comes as Time Inc. prepares to spin off from parent Time Warner into its own public company and are seen as a way to make the company more attractive to Wall Street. WWD / Memo Pad On Thursday, CEO Joe Ripp will meet with senior leadership to discuss “priorities” for the next several months, and he will conduct “town hall meetings” with current employees. On a slightly brighter note, the company said it promoted Mark Ford to executive vice president of advertising sales, where he will report to Ripp and oversee Time Inc.’s branded solutions division.

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Hillary Frey and Others Join NBCNews.com

NBCNews.com is beefing up its staff. The biggest move is naming Hillary Frey the site’s new editorial director. Frey comes to NBCNews.com from Yahoo! News, where she served as editor-in-chief since July of 2012. Prior to her time at Yahoo!, Frey was managing editor of Adweek.

Other notable hires:

  • Danielle Friedman has been named senior editor. Friedman comes to the site from Newsweek/The Daily Beast.
  • Tracy Connor and Erin McClam have been named senior writers. Connor joins the site from The New York Daily News; McClam joins from the AP.
  • Rachel Rique has been named senior planning editor. She was most recently operations director at vente-privee USA.
  • Hasani Gittens and Megan Friedman have been named news editors. Gittens comes to NBCNews.com from The Daily; Friedman from Time.com.
  • Ben Popken and Matthew DeLuca have been named staff writers. Popken had been with Consumerist; DeLuca with Newsweek/The Daily Beast.