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Posts Tagged ‘Time Inc.:’

Morning Media Newsfeed: Chernin, AT&T Strike Deal With Fullscreen | The Wire Shuttered

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Peter Chernin, AT&T to Buy Majority Stake in YouTube Network Fullscreen (THR)
Peter Chernin’s The Chernin Group and AT&T have finalized a deal to acquire a majority stake in YouTube network Fullscreen. GigaOM Financial details of the transaction weren’t released, but Fullscreen CEO George Strompolos, who previously handled partner relations for YouTube, will retain “a material ownership stake in the company,” according to the release. Re/code The sale is supposed to wrap up in the next month; ad holding giant WPP, which invested in Fullscreen earlier, will remain as a “strategic shareholder.” The deal is likely to value Fullscreen, which says it has 4 billion monthly video views, between $200 million and $300 million. Earlier in the year, Disney bought YouTube network Maker Studios, which had 5.5 billion views, in a deal that could ultimately hit $950 million. That sale kicked off a new wave of investor interest in Web video networks, which for now generate most of their eyeballs and revenue on YouTube. Capital New York Dreamworks acquired YouTube channel AwesomenessTV in 2011 for $150 million, Discovery acquired Revision3 in 2012 for $30 million, and Legendary Entertainment bought Nerdist for an undisclosed sum in 2012. Variety Fullscreen, founded in January 2011, works with more than 50,000 content creators — including such YouTube stars as the Fine Bros., Connor Franta and O2L — who have an aggregate of 450 million subscribers. The Culver City, Calif.-based company has about 200 employees worldwide.

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Morning Media Newsfeed: AJA Countersues Gore | Time Inc. Guild Talks Break Down

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Al Jazeera America Countersuing Al Gore (TVNewser)
It looks like Al Jazeera America isn’t taking the lawsuit levied by former Vice President Al Gore lying down. The company countersued Gore and Joel Hyatt Friday. The Associated Press The parties are fighting over money that is being held in escrow. The former vice president and Hyatt, the founder of Hyatt Legal Services, sued the network last month saying that it was improperly withholding tens of millions of dollars placed in escrow when Al Jazeera bought Current TV for $500 million. THR / Hollywood, Esq. According to Gore and Hyatt, Al Jazeera squandered those favorable distribution rights by making an “ill-advised, one-sided” agreement with Time Warner Cable, which set off “most favored nation” obligations to other distributors. According to Al Jazeera, it’s Gore and Hyatt who shoulder the blame — and responsibility — for what later happened by failing to get TWC on board in the first place. New York Post Friday’s countersuit insists that AJA, as Current TV’s buyer, did not “make phony claims” but had a “contractual right to be indemnified.” “Al Jazeera America rightfully seeks compensation from an escrow fund that was established solely and specifically to protect Al Jazeera against any harm resulting from these inaccurate representations,” the countersuit claimed. In the countersuit, Al Jazeera stated it made five claims on the escrow money, relating mostly to disagreements it had with distributors following the sale. Variety The purchase price was reportedly $500 million, and, although that figure also was redacted from Al Jazeera’s filing, the company noted that Gore is “reported to have made between $70 and $100 million from the sale.” Gore and Hyatt contend that they initially harbored “serious reservations” about selling the network to Al Jazeera, but decided to entertain the idea of such a sale after performing due diligence and consulting with former senior U.S. government officials.

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Time Inc. Labor Negotiations Break Down [Updated]

time-inc-logo1The Newspaper Guild of New York, which represents about 600 200 Time Inc. staffers, has announced that labor negotiations with the publishing giant have broken down.

The main sticking point? Time Inc. wants to outsource more than 100 jobs. Bill O’Meara, the Guild’s president, issued a strong statement attacking Time Inc.’s plans.

“Time Inc.’s proposal to hollow out its own company is simply not acceptable,” said O’Meara. “Management wants the ability to send 160 editorial jobs overseas, which would be a massive blow to some of the nation’s most important and respected magazines. Many of Time Inc.’s proposals are not only outrageous, we believe they’re illegal. We are filing charges over these labor law violations to force management to return to the bargaining table and negotiate in good faith.”

According to the Guild, Time Inc. is claiming that negotiations have now reached a legal impasse, which the Guild disputes.

Update (6:30 pm):
Time Inc. has issued the following statement:

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Morning Media Newsfeed: ISIS Holds Another Journalist | Glasser Named Politico Editor

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ISIS Reportedly Holding Another Journalist Captive (TVNewser)
ISIS released a new video Thursday showing a British journalist as its prisoner. The video, since deleted by YouTube, shows British journalist John Cantlie. HuffPost Cantlie, a former reporter for the Sunday Times, the Sun and the Sunday Telegraph, went missing in Syria in 2012, but was later freed by the Free Syrian Army. Cantlie reportedly then returned to Syria in 2012, along with U.S. journalist James Foley. Foley was beheaded by ISIS in August, a horrific killing that was also recorded and released on video. Reuters In the new roughly three-minute video posted on social media sites, the man identified as Cantlie appears in good health and promises to “convey some facts” in a series of “programs,” suggesting there would be further installments. “Now, I know what you’re thinking. You’re thinking, ‘He’s only doing this because he’s a prisoner. He’s got a gun at his head and he’s being forced to do this.’ Right?” the man in the video, wearing an orange shirt and closely-cropped hair, says. “Well, it’s true. I am a prisoner. That I cannot deny. But seeing as I’ve been abandoned by my government and my fate now lies in the hands of the Islamic State, I have nothing to lose.” Mashable He delivers a propaganda message to the West, promising to show “the truth” about the jihadists and stop what he calls the “seemingly inevitable sequence of events” that’s taking Western countries to another war in the Middle East. He promises that he will appear in more videos to come. NYT Analysts said that the shift in tone from the previous videos sought to gain maximum exposure and showed how attuned the group is to Western sensibilities in crafting its message. The video, like those before it, seems designed to forestall international military action against the Islamic State. But while the previous videos threatened revenge for attacks, Cantlie’s message seemed crafted to capitalize on reluctance in the West to get involved in a new war. “After two disastrous and hugely unpopular wars in Afghanistan and Iraq, why is it that our governments appear so keen to get involved in yet another unwinnable conflict?” he says.

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Food + Wine Cuts Six Staffers

Food + Wine has let go of six editorial staffers in an attempt to cut costs. WWD reports that the restructuring will allow Food + Wine’s editor, Dana Cowin, to focus more on the digital side of the glossy.

The cuts are just the latest moves by Time Inc. CEO Joe Ripp to turn around the now independent publishing house. Time Inc.’s first quarterly report since being shed by Time Warner wasn’t pretty — it came with a net loss of $32 million. Obviously things have to change, and one easy way (well, not exactly easy) to do that is trim staffers across the board.

When Ripp was recently asked about layoffs, he responded like a politician. “It’s not about downsizing, it’s about are we making the appropriate investments in our products,” said Ripp at the time. In other words, there are more layoffs to come.

Morning Media Newsfeed: ABC Debuts New View | CNN Ordered to Rehire Union Staff

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The View Premieres With New Co-Hosts, Queen Barbara Walters (TVNewser)
A revamped The View premiered Monday morning with its original co-executive producer sitting in a Queen’s throne getting doused with affection. “Thank you my pals,” Barbara Walters said as co-hosts Whoopi Goldberg, Rosie O’Donnell, Nicolle Wallace and Rosie Perez looked toward her throne. LostRemote On social media, fans were not really feeling the new View. The biggest complaints were about the new format. Many complained about the new hosts, although Perez was an all-around favorite. THR / The Live Feed Goldberg kicked off the premiere of its 18th season by introducing it as “the newer View,” filmed in an ABC Broadcast Center studio space and featuring a tweaked logo. “We’re gonna try a lot of new stuff — some of it will work and some of it won’t, but the thing that will never change is its great conversations with great women.” Mediaite O’Donnell caught the audience up with what’s been going on in her personal life since then. They then gave the floor over to Perez and Wallace to introduce themselves. Perez talked about a Broadway show she’s working on and her philanthropic efforts, while Wallace got to share her background in politics and the Bush administration. When Wallace mentioned she was a Republican, O’Donnell piped up, “I really like her, I swear to God!” Variety The audience is more prominent and appears more frequently during the program. A new producer, Bill Wolff, who once oversaw MSNBC’s flagship Rachel Maddow, will now run proceedings.

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Suejin Yang Joins Time Inc

Time Inc. has named Suejin Yang VP/general manager, digital entertainment of People and Entertainment Weekly. Yang comes to Time Inc. from NBC Universal, where she most recently served as VP of Bravo Digital Media since 2011.

Prior to her time at NBC Universal, Yang held various management roles at Viacom, from 1998 to 2011.

“Suejin Yang’s leadership and team building experience, along with her diverse background in product management, video, multi-platform strategy, and integrated marketing will be invaluable to Time Inc.,” said M. Scott Havens, Time Inc.’s VP of digital, in a statement. “In addition, her knowledge of entertainment, fashion, and lifestyle content dovetails perfectly with the People and Entertainment Weekly brands as we accelerate our digital content and product offerings to more than 40 million unduplicated digital readers a month.”

Time Inc. Has its Sights Set on TV

timeinc_logo_2.25.10We finally have some insight into how Joe Ripp, Time Inc.’s CEO, plans to save the company. During the Code/Media discussion series, Ripp told Recode that the key to reviving Time Inc. was expanding its offerings, and his inspiration was National Geographic. In other words: Expect Time Inc. brands to show up on your story box in the near future.

NatGeo was once nothing more than a stack of dusty magazines in your grandfather’s study. It’s now a multimedia empire, with multiple TV networks and a successful film studio. If Ripp says NatGeo has provided a blueprint for Time Inc., TV and online videos are definitely on their way.

Ripp was confident enough in his plan that he told the audience to “Check back in six months to see how we’re doing.” We definitely will. Perhaps by turning on the TV.

A Ripp-Roaring Time Inc. Yarn

There are more than a half-dozen standout quotes in the dog-days-of-print examination by Gabriel Sherman in this week’s New York magazine. Two of the zingers belong to Time Inc. CEO Joe Ripp and, in both cases, connect the company’s august history with the disruptive challenges currently being sorted through.

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“If you have a church and nobody shows up, it doesn’t work so well,” Ripp tells Sherman at one point, referring to the appointment of Norm Pearlstine as chief content officer and a new reporting structure that has removed the wall between church (editorial) and state (advertising). Later on, when the specter of company co-founder Henry Luce is brought up, Ripp has this to say:

“You know the great thing about Henry Luce? He didn’t have to worry about what Henry Luce would have done. He wasn’t held to his past.”

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Morning Media Newsfeed: Condé Nast Names CMO | Gregory Writing Book on Jewish Faith

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Edward Menicheschi Named CMO of Condé Nast (FishbowlNY)
Edward Menicheschi has been named chief marketing officer and president of Condé Nast. Menicheschi most recently served as Vanity Fair’s VP and publisher. New York Post Menicheschi will replace Lou Cona, who is getting the boot. Some were speculating that Gina Sanders, the president of Condé’s Fairchild division, might land the vacant Vanity Fair job now that her group is being sold to Penske Media Corp. Capital New York Cona has served as the media group’s president and chief revenue officer since April 2013. As home to the publisher’s corporate and digital sales and marketing teams, the division is a central corridor of business-side power. Cona first ascended the corporate ladder to the media group in 2010 after his own stint as Vanity Fair’s vice president and publisher, and a run at The New Yorker before that. WWD Cona’s departure came as a surprise to some within Condé. In April 2013, he was promoted after he mused about retiring at the ripe age of 55. TheWrap Prior to Menicheschi’s role at Vanity Fair, he was president of WWD Media Worldwide. He has held a number of senior roles at Vogue and GQ.

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