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Johnston Press in UK Falls Into Arms of New York Hedgie

Bloomberg: The collapse of Johnston Press into the arms of a New York hedge fund marks an unusual twist in the long decline of the U.K.’s local newspaper industry. In fact, it fits a pattern that has played out for years in the U.S., where hedge funds have become the...

Hearst Cuts British Esquire Frequency to Six Issues a Year

Campaign: Hearst UK is planning a shake-up of Esquire that will see the magazine reduced from 10 issues per year to six, with a higher cover price, from February. Esquire will feature a bigger format and better-quality paper stock, as well as new sections and...

Conde Nast Shrinks HQ to Make Room for New Subleases

New York Post: Anna Wintour is the only exec at Conde Nast who won’t be giving up her private bathroom in an upcoming office revamp. Looking to shore up its finances, the publisher is shrinking its space at its Manhattan headquarters at One World Trade Center to make...

New York Magazine Eyes New Revenues from Selling Tech

Fast Company: New York Media, the parent company of New York Magazine, is the latest media company to join the software licensing bandwagon. In an increasingly competitive industry, organizations have sought new ways to rely less on content churn and...

BuzzFeed’s Commerce Unit Generates $50 Million in Sales

Bloomberg: Scotts Miracle-Gro, the plant-care giant, had a problem: Millennials weren’t gardening enough. So the company turned to one of the most renowned experts on millennial behavior, BuzzFeed. Scotts worked with a more obscure part of BuzzFeed focused on...

CBS-Viacom’s Redstone Saga Pivots on Short iPhone Video

Vanity Fair: Last January, Arnold Kopelson, then a CBS board member, ventured to Sumner Redstone’s Beverly Hills estate to see his old friend. He took out his iPhone and filmed a short video of now 95-year-old mogul. Shortly afterwards, Kopelson expressed disbelief...

Comcast NBC’s Holt is Most Trusted in TV News, Poll Says

Hollywood Reporter: While cable news has become the medium du jour during Donald Trump's presidency, with Fox News hosts cheering on a president who has battled CNN and MSNBC, even the most successful shows on those networks can't draw as many viewers as the evening...

Disney in Talks with Hearst to Sell A+E Channels in Europe

Variety: Disney is in talks with Hearst to sell off its interest in five European cable channels that are part of the larger A+E Networks joint venture between the companies. Disney last week agreed to divest the channels as a condition of receiving approval for the...

Tribune TV Gets Takeover Interest from Rival Broadcasters

New York Post: The auction of TV broadcasting giant Tribune Media is heating up. ION Media — a privately held operator of 70 stations across the US — has joined buyout firm Cerberus Capital and Hicks Equity Partners in a bid to buy...

Netflix to Grab More Real Estate for Expansion in Hollywood

Variety: Netflix plans to colonize more Los Angeles office space, right in the heart of Hollywood. The company inked a long-term lease with Kilroy Realty for about 355,000 square feet at the Academy on Vine site, meaning Netflix will occupy all the space in the three...

Microsoft’s LinkedIn Expects Media Biz to Rake in $2 Billion

Axios: LinkedIn, the business and employment network, says it expects to bring in roughly $2 billion from its media business — mostly via ad revenue — by the end of this fiscal year. LinkedIn has been hesitant to reveal revenue numbers around its media efforts since...

Verizon Plans New Subscription Service for Yahoo Finance

Axios: Yahoo Finance, the decades-old money brand now owned by Verizon, is launching a subscription service that aims to compete with Bloomberg for the cash and attention of retail investors. Yahoo Finance Premium will act as a testing ground for Verizon Media Group...

Snap Discloses US Subpoenas About Initial Public Offering

Reuters: The U.S. Justice Department and Securities and Exchange Commission have subpoenaed Snap for information about its March 2017 initial public offering. The inquiries follow an ongoing shareholder lawsuit in which investors allege that Snap misled the public...

Uzabase’s Quartz Unveils App, For-Pay Business Coverage

Financial Times: Quartz is to launch a subscription tier for its business coverage and a new app that will offer aggregated news and user discussion with the aim of avoiding the negativity that plagues debate on social networks such as Twitter and Facebook. The new...

Bloomberg Founder to Soon Decide on Bid for US President

Associated Press: Michael Bloomberg declared lifetime allegiance to the Democratic Party on Tuesday and outlined an aggressive timeline for deciding whether to run for president. “I think January, February would be about as late as you can do it and as early as you...

Tribune Suitors Appear to Have Trouble Raising Deal Money

New York Post: Tribune Publishing stock hit a new 52-week low on Tuesday, prompting speculation that its suitors are having a tough time coming up with money to close a deal. A potential acquisition is still seen as McClatchy’s to lose. But sources speculate that the...

Hearst to Cease Regular Publication of Seventeen Magazine

WWD: Seventeen magazine is the latest legacy magazine to be pushed further out of print. The roughly 75-year-old title is having its print frequency reduced next year, going from the current bimonthly schedule to at most a few issues a year. The magazine will continue...

Penske to Buy Brant’s ARTnews, Arts in America Magazines

New York Post: Jay Penske’s publishing empire PMC just gobbled up a trove of art publications. The company, which owns Variety, WWD and Rolling Stone, said Tuesday that it bought print tycoon Peter Brant’s Art Media Holdings, which publishes ARTnews and Art in...

IAC’s Daily Beast Looks to Tap Gonzo Spirit as New Gawker

Recode: Noah Shachtman, editor in chief of the Daily Beast: "We like to embrace the gonzo and that Gawker was an inheritor of that gonzo spirit that didn’t originate with Gawker, but that they carried that mantle for a little while. We really like the gonzo. We really...

AT&T CEO Bashes White House for Pulling CNN Press Pass

Deadline: AT&T CEO Randall Stephenson criticized the White House for failing to follow the proper procedure when it revoked CNN correspondent Jim Acosta’s press pass. “If the White House wants to pull someone’s press credentials, there is a process. That process...

Viacom’s MTV Buys SnowGlobe Fest to Grow in Live Events

Associated Press: MTV is expanding its live events business in the U.S. by acquiring the SnowGlobe Music Festival. The three-day New Year’s Eve festival takes place in South Lake Tahoe, California. MTV says it’s taking the next step in “its resurgence by expanding...

Amazon Picks New York City, Northern Virginia for New HQs

MarketWatch: Amazon has chosen New York City and Northern Virginia to be the locations of the company's new satellite offices. The official announcement that Amazon will divide its second headquarters between Long Island City and Crystal City, Va., may come as soon as...

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