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Posts Tagged ‘Barry Diller’

Here’s Hoping That The Daily NewsBeast Works Out

The Daily Beast and Newsweek have officially completed their merger and Newsweek is now 50 percent owned by Barry Diller‘s IAC, the parent company of The Daily Beast.

The news could not have come at a more interesting time: this morning, IAC reported its fourth-quarter results: IAC’s “media and other” division, which includes The Daily Beast (now The Daily Beast/Newsweek), CollegeHumor, Vimeo and more, lost $45 million, a 17% bigger loss than the year before.

The good news: revenue in the media division was up, to $66.7 million from $52 million, and this “primarily reflects increased contributions from Shoebuy.com, Notional, Electus, The Daily Beast and Vimeo.” The bad news: the losses are Tina Brown‘s fault, too. “Losses were negatively impacted by increased operating expenses at The Daily Beast and transaction expenses associated with the formation of its joint venture with Newsweek.”

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Glynnis MacNicol To Business Insider | Randy Michaels Ousted | More Stuff That Happened Over The Weekend

More media moves were announced late on Friday and over the weekend, so here’s everything we missed. (Hey, we’re only human.)
Also: former Newsweek president Mark Edmiston is launching three online magazines covering food, film, and surfing(??) and, inexplicably, Barry Diller says he wants to get The Daily Beast into print. Whatever makes you happy, apparently.

Why Newsweek/Daily Beast Merger Might Make Sense

The likelihood of a Newsweek/Daily Beast merger is “increasing” says the WSJ, for a couple of reasons.

One: Newsweek’s new owner, Sidney Harman, claims he’s not trying to make money, just turn the magazine around.
Two: Having Tina Brown as editor would “would provide an infusion of talent and buzz for a magazine that’s been struggling to exceed 60 pages.”
Three: The Daily Beast is expected to lose $10 million this year. (Ouch!) Newsweek would give the website a global print platform.

Add it all up and you get a tempting conclusion. However, the WSJ adds, “people familiar with Mr. Harman’s thinking said he may be wary of handing the reins to a strong-willed editor who also answers to another boss.” (That’d be Barry Diller.) Should a deal go through, Brown would become the editor of Newsweek on top of her existing duties and would answer to both bosses.

The Daily Beast averages 4.6 million visitors a month.

Diller Likes AOL While National Journal’s Latest Hire Talks Decline, Plus Other News of the Day

- Well the Wall Street Journal is sure enjoying a recent jump in its advertising revenue, and it wants to make it clear that the New York Times isn’t matching it. According to a company memo obtained by Romenesko, the WSJ‘s print and online revenue jumped 17%, while its digital advertising revenue skyrocketed up 29% in the first quarter of 2011. How’s NYT‘s? According to the memo, “for the same three month period the New York Times has forecast total print and online revenue for its calendar third quarter to fall 2 to 3% compared with a year before. Total print advertising revenue is expected to be down 5%. Total digital advertising revenue is projected to rise 14%.” Does this mean the WSJ is winning?

- AOL has one fan in IAC CEO Barry Diller. Of course this fan was speaking at AOL’s recent acquisition, TechCrunch’s conference when he spoke of AOL. “For the first time in more than ten years … which in an internet company of such size is an eternity … real things are happening,” said Diller, according to paidContent. “There is a real direction, a real plan, it is under a real leader. It is independent, it’s got a real chance.” What are Diller’s thoughts on Yahoo, however? He didn’t want to talk about it.

- The media watchdog group Free Press has filed a complaint to the Federal Communications Commission to stop the practice of paid publicists supporting products on television news casts, when the news station presents the person as a consumer advocate. This move by the Free Press has come on the heels of Los Angeles Times columnist James Rainey calling out the FCC for not doing something about this practice. “The agency hopes the threat of public embarrassment will keep hucksters in check,” wrote Rainey. “Judging from my reporting on toy woman Werner, I’m not so sure. Several PR professionals told me they see secretly paid promotions only growing…. Television stations won licenses from the FCC with promises to uphold a trust to serve the public interest. Critical in that trust is helping the audience understand where content comes from.” Wonder how the FCC will react to that.

- It’s a continuing theme of this nightly roundup, but National Journal picked up another hire today. Boston.com’s editor David Beard will join the publication as its deputy editor-in-chief and online editor. But Beard had some thoughts about what he does and the old media world as he left. “I thought about the first Times owner…and how much he really dreamed up new ideas and thought like an entrepreneur — as opposed to a manager of an extant company,” said Beard to Nieman Journalism Lab. “I didn’t want to live my life managing decline.” That’s a sad, but poignant statement.

Newsweek, Daily Beast Combo Gains Momentum

Talks between Newsweek‘s soon-to-be official owner Sidney Harman and the Daily Beast have heated up reports the New York Post‘s Keith Kelly. The plan would combine the digital group within Newsweek with the Daily Beast, while Daily Beast editor-in-chief Tina Brown would also oversee the print side of Newsweek.

The negotiations continue between Harman and Daily Beast owner Barry Diller. Kelly writes:

“The talks are advancing,” said one knowledgeable source, “but there are still a few hurdles.”

One of the problems, said another source is, “Diller is approaching it as a business deal and thinks he’s in the driver’s seat.”

The trick is getting two moguls and their accompanying egos to agree on how to run a joint venture.

“I think they’d both play very active roles,” said one source.

The other issue is where to move the Newsweek staff. But it would be an interesting first move for the new media mogul, Harman.

IAC Turns Q3 Profit Of $ .34 Per Share

iac-logo.gifBarry Diller‘s IAC turned a profit for the second quarter in a row, this time of $.34 per share or $46.3 million, despite a 9% drop in revenue.

Media & Advertising sustained an 11% drop in revenue while Emerging Businesses (aka The Daily Beast) watched revenues fall 19%.

Ironically, the revenue declines in Media & Advertising, including at IAC’s Ask.com, are a result of a redesign that makes Ask.com more efficient. In October 2008, the site was relaunched to allow users to find their desired information with fewer clicks, which results in fewer ads being shown and also a decrease in cost per click, IAC’s release said. Meanwhile, lower income in Emerging Businesses “reflect[s] continued investment in InstantAction.com and The Daily Beast…” so Diller isn’t giving up on Tina Brown just yet.

Who Owns Job Training And Why Aren’t New Hires Prepared?

Has anyone really worked their way from the mailroom to CEO since Barry Diller?

We’re thinking about this because of a new HRE Online article on job training that says 50% of employers think their new hires aren’t prepared for work. (Note that these are hires, not job candidates.)

It used to be that you could start in the mailroom wherever and learn the job on the job. Entry-level positions were incredibly basic, and you could “grow into” a new role. People stayed with the same company.

That’s gone now, as is the mailroom-to-CEO myth, for the most part. And, Peter Cappelli writes in the piece, these two things are linked.

If an employee’s not going to stick with the company for long, then why invest in training them? Why not expect them to already know the job? Any money spent in training is money “wasted” if the employee jumps ship—at least, that’s the perception, Cappelli says.

So that leaves internships—many of them unpaid—as the way to get “on the job” experience. Advantageous to employers, not advantageous to any jobseeker that wants to work but can’t afford to work without pay.

Meaning that the ill-prepared workers stay ill-prepared.