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Posts Tagged ‘Keith Kelly’

Hearst Inks ‘Share Purchase Agreement’ With Lagardere

After nearly two months of “exclusive negotiating” between the two publishing giants, Hearst has signed an agreement to buy Lagardère’s 102 non-French magazines for 651 million euros ($917 million), minonline reports.

Regulatory approval in Europe is still pending but other than that the deal is on. Hearst will then own Woman’s Day, Car and Driver and Road & Track in the U.S. as well as Elle in fifteen countries, but not in France.

The New York Post’s Keith Kelly adds that the merger is expected to result in massive layoffs, with 30 percent of the combined workforce to be ousted.

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Changes At NYT Magazine

Deborah Solomon will no longer be contributing her “Questions For…” column to the New York Times Magazine, reports the New York Observer.

Meanwhile, NY Mag says that Ethicist Randy Cohen is also leaving the magazine, though editor Hugo Lindgren is “expected to appoint a new Ethicist shortly.”

What’s next for these stalwarts of the magazine? (Solomon’s column has been running since 2003, while Cohen’s had his feature for over a decade.)

Solomon told the Observer that she plans on “devot[ing her]self to my long-overdue, almost-finished biography of Norman Rockwell…I also plan to continue asking as many impertinent questions as possible.” She may also continue to write for the paper in other areas.

For Cohen’s part, NY Mag says he will develop a public radio show about ethics.

Update: Well, that was fast. According to Keith Kelly, Ariel Kaminer is the magazine’s new Ethicist.

No Cuts At Time Inc (For Now)

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Time Inc. CEO Jack Griffin is finishing up his first 100 days in office with some rearranged executive-level moves. But the rank and file can rest easy this holiday season: no cuts, no closures.

“We have no plans to divest any of the brands in our stable, either domestically or worldwide,” Griffin told the NYP’s Keith Kelly.

The company is even doing well enough to have its first Christmas party since 2007: expect cocktails, carolers, and a Sports Illustrated swimsuit model.

Why we said “for now”: Because whatever promises CEOs make, things can change. But at least for now, Time Inc. folks’ jobs are safe.

More Newsweek Exits And Non-Entrances

Sister blog FishbowlNY reports that four more employees have left Newsweek:

Deputy editor Julia Baird, global business editor Kathleen Deveny, staff writer Nancy Cook (who will now be working for Fast Company), and Washington bureau staff writer Suzanne Smalley (to The Atlantic).

And more bad news (for Newsweek anyway): Terry McDonnell, editor of Sports Illustrated, was in the running to go join Newsweek as top editor but he told Keith Kelly “I have no plan to leave Sports Illustrated.”

The Newsweek/Daily Beast deal is off, too, so that leaves the top editor position still a mystery. Kelly reports that owner Sidney Harman has talked to more than a dozen candidates and is confident he’ll have someone in the slot by mid-November.

Keith Kelly Is NOT Leaving The NYP

In case you were wondering.

The Guardian’s Edward Helmore wrote about HuffPo vs. The Daily Beast today. And Business Insider noticed something odd about Helmore’s article. Helmore wrote:

“This week, Brown hired the veteran Washington Post media writer Howard Kurtz while Huffington hired Newsweek’s chief political reporter Howard Fineman and media columnist Keith Kelly from Rupert Murdoch‘s New York Post.”

Really?
No, not really. Kelly e-mailed Business Insider to say, “News to me.”

You know who is leaving the New York Post, though? Richard Johnson, Page Six editor, is heading to LA to head up a new digital venture for News Corp. But that doesn’t really explain how Kelly got involved.

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.

Conde Nast Freezes Pensions

Condé Nast has announced it’s freezing its pension plans for its 3,000 employees, Keith Kelly reports.

In exchange, the company is raising its 401(k) match from 25 cents on the dollar to 66 2/3 cents on the buck.

“It allows employees to take greater advantage of their own saving strategy,” a spokeswoman told Kelly.

Condé Nast, of course, cut hundreds of people last year in an effort to cut costs and survive the ad slump/recession/death of print triple whammy that’s hammering every media company.

El Newsweek: Carlos Slim Said To Have Visited Struggling Mag’s Offices

newsweek-cover.jpgMexican telecom billionaire Carlos Slim visited Newsweek‘s offices Wednesday, reports Keith Kelly.

“Slim’s apparent interest in Newsweek would represent a reversal of fortune for a magazine that some watchers predicted would be difficult to sell,” Kelly wrote.

Interestingly, Newsweek editor Jon Meacham said earlier this week that he received phone calls from two billionaires interested in buying the magazine; sources told Kelly that Slim was not one of those two.

Whatever happens, it’s not a fun time to be a news weekly.

New York Times Layoffs Loom, About 50 To Go

nyt logo.jpgThe New York Times’ deadline for newsroom employees to accept buyouts is this Monday. According to Keith Kelly at the New York Post, about 50 staffers have signed up. (At least two are coming from the Times’ DC bureau: Stephen Labaton and Neil Lewis.) While that’s more than initial estimates, that still leaves the NYT with the need to make 50 more cuts to reach its headcount reduction goal.

Copy desks may be especially hard hit, as will be blogs.

(Here’s Gawker’s look at which blogs may not make the cut, though take with a grain of salt.)

The New York Observer also took a stab at which blogs will probably survive: among them, Andrew Ross Sorkin‘s DealBook, ArtsBeat, City Room, The Caucus, Bits, Well and The Lede.

More Time Inc. Layoffs: Fortune, InStyle Weddings

fortune_20091207_150.jpgFortune suffered another round of layoffs yesterday, bringing the total number of staffers axed from that publication to 30, Keith Kelly reports.

Among those let go yesterday were two writers, Suzanne Kapner and Telis Demos, and three assistant managing editors: Eric Gellman, John Brodie and Brian Dumanie.

InStyle Weddings was shuttered yesterday, causing nine to lose their jobs, and, according to Kelly, three employees from Sports Illustrated were also ousted. Also at the sports mag, seven edit staffers volunteered for buyouts, bringing the total number of people downsized from Time Inc. yesterday to 24.

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