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Posts Tagged ‘The Onion’

Morning Media Newsfeed: DWA, Hasbro Merger Talks End | The Onion Exploring Sale

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DreamWorks Animation, Hasbro End Merger Talks (THR)
Hasbro has called off merger negotiations with DreamWorks Animation, sources say. The deal chatter, which became public on Wednesday, appears to have been derailed in part by the performance of Hasbro’s stock and potentially the high price sought by DreamWorks Animation CEO Jeffrey Katzenberg. WSJ News last week that the toy maker was in early acquisition talks with the film studio drove the two companies’ stocks in opposite directions. Hasbro investors sent the toy company’s share price down more than 4 percent on Thursday and nearly 2 percent on Friday, when they settled at $54.02 on Nasdaq. Adweek DreamWorks reportedly wanted $30 per share, a relatively steep incline for stock trading at roughly $22. NYT / DealBook Also playing a role was a negative private reaction by the Walt Disney Company, which comprises roughly 30 percent of Hasbro’s business through licenses for Star Wars, Marvel characters, Frozen and the Disney Princesses toy line. Variety Neither side has officially commented on why the talks fell apart, nor the potential of a deal. Hasbro follows recent conversations DWA has had to sell the toon studio. In September, it discussed such a sale with Japanese tech giant SoftBank, that also ended just days later.

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The Onion Might be For Sale

The Onion logo GThe Onion might be up for sale. Or, in Onion language, Media Company Hopes Someone Buys Sinking Ship. According to The Chicago Tribune, Onion Inc., publisher of The Onion, AV Club and Clickhole, have hired the investment bank GCA Savvian to explore a possible sale.

The Onion has been making changes for the past few years. In 2012, it moved all editorial operations out of New York and consolidated them in its Chicago headquarters. Then just last year, The Onion ceased all print editions and went digital only. “It’s sad to see a print edition no longer exist, but it’s important to see the Onion succeed,” Mike McAvoy, president of Onion Inc., said at the time.

Here’s hoping that if The Onion is sold, it keeps its spirit intact.

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: Abramson Gets New Gig | Twitter COO Resigns

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Jill Abramson to Teach at Harvard (FishbowlNY)
Jill Abramson, the former executive editor of The New York Times who was unceremoniously fired last month, has a new gig — teacher. Abramson is joining Harvard University’s English department this coming fall to teach undergraduate courses on narrative nonfiction. NYT Abramson, the first woman to hold the top editing post at the Times, was abruptly dismissed last month by the newspaper’s publisher, Arthur O. Sulzberger Jr. Her firing stunned the Times newsroom and the media world in general. Sulzberger said she was dismissed because of her management style, while other published accounts said she was paid less than her predecessor, Bill Keller, an allegation that Sulzberger denied. Capital New York Abramson, a Harvard alum, will hold the title of visiting lecturer at the university for the 2014-2015 school year. THR “Narrative non-fiction journalism is more important than ever,” Abramson said in a statement. “Its traditions and how it is changing in the digital transition are fascinating areas of study.” Politico / Dylan Byers on Media During a May commencement address at Wake Forest, her first and only public appearance since her termination, Abramson said she did not know what her next career move would be after the Times. Abramson has previously taught journalism seminars at Yale and Princeton.

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5 Reasons We Love ClickHole

The Onion’s BuzzFeed/Upworthy parody site is finally here. You’re getting giddy…. Very, very giddy.

ClickholeSpiral

Among the many items to enjoy on this official launch day:

1) The hilarious FAQ.

2) A clever inversion of all those which-character-are-you? quizzes, run through the prism of Friends.

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Morning Media Newsfeed: Oprah Eyes Clippers | Viacom to Buy Channel 5 | Time Warner Profits Soar

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Oprah Considering Los Angeles Clippers Bid (ESPN)
Oprah Winfrey, David Geffen and Larry Ellison will join together in a bid to buy the Los Angeles Clippers if the NBA’s board of governors votes to force Donald Sterling to sell the team, Geffen said Wednesday. FishbowlNY Others interested in buying the Clippers include Diddy (he even created his own hashtag #DiddyBuyTheClippers) and Floyd Mayweather. THR The OWN Network founder would pair with music mogul Geffen and Oracle co-founder Ellison in an investor role. On Tuesday, NBA commissioner Adam Silver pledged to force the sale of the Clippers after audio recordings of racist remarks made by owner Donald Sterling surfaced on TMZ days earlier. Sterling, who has owned the Clippers franchise since 1981, faces a ban from attending all NBA games as well as making any business decisions for the team. LA Times / Sports Now Winfrey, in reference to Sterling’s comments, told TMZ on Tuesday that “the plantation days are over.” She also denied having interest in purchasing the team on her own. However, Winfrey’s spokesperson, Nicole Nichols, issued a statement Wednesday confirming that she’s in talks about becoming an investor. Reuters The advisory finance committee of the NBA’s governing board scheduled a meeting for Thursday to review the next steps for forcing a sale of the Clippers, as urged on Tuesday by NBA commissioner Adam Silver, a league spokeswoman said. Sterling, who bought the Clippers in 1981 for $13 million when the team was based in San Diego, has not indicated whether he would relinquish ownership without a fight. Experts have estimated that the franchise, which moved to Los Angeles in 1984, could now be worth as much as $800 million.

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The Onion to Launch BuzzFeed and Upworthy Parody Site

BuzzFeed and Upworthy have built their web empires on the time-tested premise that most people are stupid and therefore will enjoy reading stupid content. The Onion has picked up on that similarity, and decided to take on both with the launch of the appropriately named ClickHole.com.

According to New York Business Journal, ClickHole will be a site that exists solely to mock BuzzFeed and Upworthy. You can’t see the FishbowlNY editors, but we’re giving The Onion a standing ovation.

The Onion gave a few examples of ClickHole’s content, but they were so similar to BuzzFeed and Upworthy posts that we decided to make you a little quiz (Everyone likes them!). See if you can figure out which headline is from BuzzFeed or Upworthy, and which is from ClickHole. Scroll to the bottom to see the answers.

BuzzFeed/Upworthy or ClickHole?

  • I Never Thought a Slice of Pie Would Make Me So Angry
  • How Much Do You Hate People?
  • Which Pizza Should I Have for Dinner Tonight?
  • What This Little Girl Says Will Melt Your Heart

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The Onion Now Just Two Webbys Short of a Pulitzer Melt

In 2011, via the NEWSIRE section, The Onion ran the following headline – “23 Webby Awards Melted Into One Pulitzer.” Was it wishful thinking or sly, spot-on presaging?

WebbysBanner

We ask because The Onion is now just two short of this high-temperature, trade-up plateau. Per today’s announcement of 2014 Webby Award winners, the satirical site racked up record 20th and 21st honors from the International Academy of Digital Arts & Sciences (IADAS) for Social Content and Marketing/Humor and General Website/Humor.

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Morning Media Newsfeed: Vox Buys Curbed | 60 Minutes Apologizes | Onion Ends Print Edition

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Vox Media Buying Curbed.com Network of Sites (NYT)
Vox Media, a company with three strong digital brands, including the technology site The Verge, is adding to its portfolio. The company plans to announce on Monday that it is buying Curbed.com L.L.C., which runs three Web publications that deliver in-depth neighborhood coverage, with attitude, of real estate, dining and retailing. Fortune Fortune has learned that ambitious digital media startup Vox Media will acquire Curbed Network, a saucy trio of urban lifestyle and entertainment blogs, for a mix of cash and stock valued between $20-30 million. Though Curbed has just 5 million monthly unique visitors, the deal will help Vox Media grow its business in new categories, including home, food and style. Business Insider When asked why he’s interested in a local play like Curbed, which is published in 32 cities, Vox Media CEO Jim Bankoff replied, “It’s not a local play. These are huge mainstream consumer categories: Food/dining, home/real estate, style/retail are among the most popular cable networks and TV shows, magazines… yet who really owns the categories from a digital media perspective, especially among rich young adults online?”

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The Onion Folds Remaining Print Editions [Updated]

the-onion-logoThe Onion is folding its remaining print editions and going all digital. Crain’s Chicago reports that the papers distributed in Chicago, Providence and Milwaukee are the last to go. Their last issues will be December 12.

The satirical paper has been slowly shutting down its print editions over the past few years. At one point, The Onion in print was available in 17 markets. However, as any fan of newspapers knows, times aren’t what they used to be.

“It’s sad to see a print edition no longer exist, but it’s important to see the Onion succeed,” Mike McAvoy, president of Onion Inc., told Crain’s.

Alternate title to this post? “Newspaper Realizes Newspapers are Terrible.”

Update (10:50 am):
We just received a statement from McAvoy about the closures. It’s below.

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