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Posts Tagged ‘Nick Denton’

Nick Denton Values Gawker Media at Around $200 Million

GawkerMediaStatsOur favorite passage from Lloyd Grove‘s Daily Beast interview with Nick Denton is the following:

Personally and through a family trust, Denton says he owns 68 percent of his privately-held, Cayman Islands-registered company that press reports have valued in the neighborhood of $300 million, though Denton says, “On the open market, if it were for sale—which it isn’t — it’s more like $200 million.”

At this point in his life, Denton has enough filthy lucre in his bank account to affect a certain lack of interest in the stuff. “This is not a ‘money-making venture,’” he insists. “For me, I just like the activity, and the activity just happens to make money.”

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Morning Media Newsfeed: Gawker Shakes Up Leadership | Guardian EIC to Step Down

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Gawker Makes Leadership Changes (FishbowlNY)
Nick Denton has announced some major changes to the leadership structure at Gawker Media. Instead of Denton having all the oversight, a collective of seven managing partners (including Denton) “will consult on major matters such as tech investments and the reassignment of department heads,” according to a memo. NYT The move was in part because of the company’s editorial failures in the last year. Denton said he would stay on as chief executive and remain involved in the company’s future, but that recent failures in management had shown he needed more support. Politico / Dylan Byers on Media The move, Denton said, was part of an effort to scale back his day-to-day managerial roles and return to blogging, which he called “the only truly new media in the age of the Web” and “the essential act of journalism in an interactive and conversational age.” The move also suggests that Gawker Media may be gearing up for an acquisition or merger of some sort. Denton said that no such activity was afoot. GigaOM The new management structure will make it easier to respond to the increasing competitive threat from sites like BuzzFeed and Vox, Denton said, since decisions will be made by the committee as a whole rather than everyone having to try and get the founder’s attention at the same time. The new group includes former Deadspin editor Tommy Craggs as head of editorial operations, effectively replacing editor-in-chief Joel Johnson, who announced recently that he had been fired. Capital New York The rest of the managing board includes president Heather Dietrick, chief strategy officer Erin Pettigrew, advertising head Andrew Gorenstein, chief operating officer Scott Kidder and chief technology officer Tom Plunkett, who will continue to work on the product side but shed the title of CTO. The memo also mentions that Gawker’s revenues are up 30 percent year-over-year and the company has hired Paul Sundue to head Studio@Gawker, the company’s in-house native advertising agency.

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Gawker Makes Leadership Changes

gawkerlogoNick Denton has announced some major changes to the leadership structure at Gawker Media.

Instead of Denton having all the oversight, a collective of seven managing partners (including Denton) “will consult on major matters such as tech investments and the reassignment of department heads,” according to a memo.

The partners include the following:

If you’re in the mood to read Denton’s extremely long note about these changes, it’s below. After you’re finished, maybe try to get out more?

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Counting the Vice Digs

vice130Maybe it’s just us. But in addition to a late parenthentical swipe at Vice Media, today’s Nick Denton memo announcing plans to quickly add an executive editor and group managing editor to Gawker Media seems to contain several other, more subtle, digs.

In the memo’s opening paragraph, Denton sets things up with some gentle omission, praising a couple of chaps at BuzzFeed and Vox as the fearsome “pros” he and his new charges will have to most worry about in 2015. In the third paragraph, it’s more of an open-handed slap [bolding is ours]:

We have one great asset that no money can buy: an independent spirit and willingness to defy conventional wisdom.

We get it. There are no plans at Gawker Media to do a dance with Rupert Murdoch and sell a subsequent stake to A&E Networks.

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Jeff Bercovici Leaving Forbes for Inc.

JeffBercoviciPicThe departure of Nicole Carter from Inc. to Apple has set in motion an interesting subsequent shift. To replace her as the magazine’s San Francisco bureau chief, Inc. has snagged Jeff Bercovici. A rep tells FishbowlNY he will start November 10.

Bercovici has worked as a senior editor at Forbes since 2013. Prior to that, he was a staff writer.

It’s been an interesting, long run for the journalist. He was a columnist with WWD‘s “Memo Pad” from 2004-2006, a staff writer with Radar magazine from 2006-2007, a founding media blogger with Condé Nast’s Portfolio from 2007-2009 and a media columnist at AOL Daily Finance from 2009-2010.

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Gawker Media Moving to Flatiron District

GawkerOn the heels of Nick Denton scoring the #7 spot on Joe Pompeo‘s list for The Advocate of “The 50 Most Influential People in LGBT Media,” there is a larger and much more significant multiple-of-seven Gawker number: 114.

That’s the address on Fifth Avenue where the company will soon relocate. From Kara Bloomgarden-Smoke‘s report:

“We will be moving out of the walk-up Nolita loft space that has been our home since 2008. Earlier today, we signed a lease for three floors of 114 Fifth Avenue,” Denton wrote in a staff memo that will go out this afternoon. Gawker Media signed a 15-year lease on three floors of the building, with plans to sublet one floor for the time being.

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Jezebel Staffers Disappointed with New Editor

Jezebel’s incoming editor — Emma Carmichael — doesn’t start until September, but she’s already involved in some drama. According to Capital New York, several of Jezebel’s staffers are upset that Carmichael (who is white) was chosen over Jezebel’s deputy editorDodai Stewart (who is black).

Stewart has been with Jezebel since 2007, and apparently many thought she was the perfect choice to take over the site from Jessica Coen. “I know we were all really rooting for her,” said one staffer. Instead, Nick Denton opted to bring in Carmichael, and the rumblings began:

I wouldn’t say that we’re unhappy with Emma at all, but… we had like a really optimal choice that they passed over.

Translation: We’re unhappy they picked Emma.

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Michael Hastings Gets Some Posthumous Love from Fox News Journo

TheLastMagazineCoverFrom the latest wave of reviews for Michael Hastings‘ posthumous novel The Last Magazine, out today, one jumps out. A rave in the Washington Post by Fox News chief D.C. correspondent James Rosen:

The [titular] magazine, you’ll not be surprised to learn, is a mid-Manhattan snake pit of literary ambition and fame-lust, where the international editor, an Indian intellectual-cum-socialite, vies with the managing editor, a bow-tied Southern historian, for the throne of editor-in-chief. The publisher has played up the parlor-game angle, and yes, some fun is to be had identifying Media Luminaries skewered here via roman à clef (Fareed Zakaria, Nick Denton, Lally Weymouth, et al.)…

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VICE Responds to Latest Gawker Broadside

ViceTwitterAvatarThe results are in. And if you’re a member of the VICE PR team, they are not pretty.

Employees of Shane Smith‘s globe-spanning operation were quick to respond to a recent call by Hamilton Nolan and co. for in-the-Brooklyn-trenches feedback. Some of it adds up to anything but Jill Abramson problems:

One intern two years ago was excited to receive a full-time position — until the company offered him a salary of $20K. Employees who have worked there full time within the past two years say that salaries well under $30K are routine for “producers.” (One such producer said that after waiting in vain for more than a year for a raise to push their salary up to $30K, they left VICE last year after seeing executives spend what appeared to be thousands of dollars on drugs for a company party.)

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Denton, Spiers Will Not Be Attending Each Other’s Wedding

ElizabethSpiersPicThat’s the main collateral damage from the fact that on the Saturday, May 31, Nick Denton will tie the knot with Derrence Washington at the American Museum of Natural History while Elizabeth Spiers will be saying “I do” to Daily News boroughs editor Jotham Sederstrom at the Botanic Gardens in Brooklyn.

Spiers told Capital New York’s Matthew Lynch that the wed-chronicity was discovered only after deposits were made for both events. She added that both she and Denton thought it was hilariously apt, given their friendship and Gawker connection, that this would happen. Lynch also got this tip from someone impressive enough to get invites to both weddings:

Two double-invitees were Lockhart Steele and his wife, Lindsey Green (themselves married earlier this year, in Las Vegas).

“We love both parties dearly,” [Vox Media VP of editorial] Steele wrote in an email to Capital when we asked which wedding they were going to attend. “So, we’re using the tried and true Ann Landers approach that I last used in 2005 when two dear friends got married on the same day: we’re going to the wedding of the friends who invited us first—in this case, Elizabeth and Jotham.

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