Consumer

WaPo Hits 2nd Year of Profitability, Plans Expansion
January 10, 2018 at 1:48 pm

The Washington Post will celebrate its second consecutive year as a profitable company by adding to its business and technology teams in 2018, according to a memo to staff from Post Publisher Fred Ryan obtained by Axios. The team of nearly 800 journalists will be acquiring additional space in its headquarters building in downtown Washington…

Sports Illustrated Is Now Reduced to a Biweekly Publication
January 9, 2018 at 1:13 pm

Longtime Sports Illustrated subscribers were in for a surprise as they thumbed through the Dec. 25 issue — not so much a Christmas treat; unfortunately, more like a lump of coal. In 2018, an inconspicuous Editors' Letter announced, the magazine will publish only every other week (plus of course the Swimsuit Issue). Editor Chris Stone's letter tiptoed to…

Time Inc. Sells Essence Communications
January 4, 2018 at 1:29 pm

Time Inc has sold Essence Communications, a media company with a focus on African-American women, to Essence Ventures LLC. Terms were not disclosed, but the sale comes just as Time Inc is to be acquired by Meredith. Essence, an iconic brand since 1970, was bought by private entity Essence Ventures LLC, headed by Richelieu Dennis,…

Vice Suspends Two Top Execs in Wake of Sexual Harassment Allegations
January 3, 2018 at 1:39 pm

Vice Media has suspended two senior executives — president Andrew Creighton and chief digital officer Mike Germano — following a New York Times report last month detailing sexual harassment allegations against them. The company’s decision to put the two execs on leave was announced in a memo to staff Tuesday from Vice COO/CFO Sarah Broderick…

At Rolling Stone, Prospective Buyers Are in the Final Tire-Kicking Phase
December 20, 2017 at 1:39 pm

A three-month auction for the Wenners’ remaining 51% stake in Rolling Stone, which has been struggling financially, has entered its concluding stage. Several finalists were invited in to receive presentations from Wenner executives before submitting their best and final offers, according to people familiar with the process. A crew from one of those suitors, Penske…

Here Is the Awful Pep Talk Ziff Davis Gave to Mashable After Gutting Its Staff
December 20, 2017 at 11:28 am

The recent trajectory of tech site Mashable has put it at the forefront of some of the worst trends reshaping digital media. In April 2016, it slashed its news team and became one of the first venture-backed publishers to make the infamous “pivot to video.” Its ad-centric business model was nevertheless suffocated by tech giants,…

Condé Nast to Announce Layoffs After Facing 'Terrible Year'
December 18, 2017 at 2:42 pm

The rumor mill is churning furiously regarding the future of Condé Nast in light of two magazine consolidations this year. Recently, Hearst Magazines swallowed up Rodale, and Meredith acquired Time Inc., leaving Condé, arguably the glossiest magazine company, with question marks surrounding its fate. Although sale rumors have been rampant — potential suitors are being…

New Owner to Retire Iconic Time Inc. Name
December 18, 2017 at 12:36 pm

The name Time Inc., one of the most iconic in publishing the last 95 years, will soon disappear, The Post has learned. Meredith, which has agreed to buy the publisher of Sports Illustrated, People and Time magazine for $2.8 billion, plans on retiring the Time Inc. name — from buildings, business cards and everywhere else,…

A.G. Sulzberger, 37, Will Take New York Times Reins on Jan. 1
December 14, 2017 at 1:35 pm

It would appear to be another seamless generational transition at The New York Times Co. It announced Thursday what had been telegraphed previously, with only the exact date a vague mystery: Arthur O. Sulzberger Jr., 66, will retire as publisher on Dec. 31 and be succeeded in that post by his 37-year-old son, A.G. Sulzberger. The father, who took over…