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Your Media Morning: Norm's Out?, Disney Buying Vice Media?, Rodale Exodus, Inside The Gawker Bankruptcy...

HEATHER DIETRICK IS GAWKER MEDIA'S DEFACTO STEELY BUT NICE LEADER: She often works on her laptop on a couch in the lounge area near the editorial team and goes out for drinks with employees. On Friday evening, she invited staff members to a rooftop gathering at her apartment building in the West Village, where she lives with her husband. People ordered pizzas and drank beer. Ms. Dietrick firmly believes in Gawker’s approach to news, current and former employees say. She is a staunch defender of the First Amendment and would rather figure out a way to tell a story than prevent it from running.

DISNEY MAY OR MAY NOT BE THINKING ABOUT DROPPING $5 BILLION FOR VICE MEDIA: Don’t rush to the store looking for weed-branded sheet sets and matching bathrobes just yet. Rumors that Disney is planning to make a $5 billion bid for hipster news outfit Vice have been making the rounds, but sources close to the edgy company denied them. The Mouse House, through its A&E Networks (co-owned with Hearst), already owns 15 percent piece of Vice — to go alone with a 9 percent slice it directly owns.

ITS OFFICIAL, GAWKER FILED FOR BANKRUPTCY AND IS SELLING ITS ASSETS TO THE HIGHEST BIDDER: Gawker Media CEO Nick Denton is serious about not paying out $140 million to Hulk Hogan for releasing a sex tape of the former wrestler. It was expected that the company would take the chapter 11 route and maybe even...

GO INSIDE THE GAWKER BANKRUPTCY: The process will allow it to “fund the appeal,” Gawker said Friday. During the trial against Bollea, lawyers for Gawker noted that all of the media firm’s assets amount to $83 million, and that last year it earned a gross revenue of $48.7 million

FORMER VIACOM CEO TOM FRESTON SAYS CURRENT CEO PHILIPPE DAUMAN MUST GO: After initially sitting quietly as the corporate soap opera played out, former Viacom CEO Tom Freston has stepped forward to call for new leadership at the top.

"I guess the problem was not perfect succession planning — and a chairman's claiming he would never die," 

The story of Viacom in recent years, Freston says, has been one of decline.

"It went from really being No. 1 in its class, as a cable networker and as a creative enterprise, to pretty much the bottom of the barrel,"

DISNEY'S BIG WEEK: There's going to be a lot of buzz around Disney in the coming days. If everything goes as planned, the media giant will have officially opened a new theme park in Shanghai, introduced an updated attraction across three of its parks, and rolled out a sequel to one of its most successful animated features at a multiplex near you by the end of the week.Disney is a big enough conglomerate that a single event won't typically move the needle, but there are too many things going on this week. They will matter, in concert.

THE ECONOMIST IS STILL TRYING TO FIND THE RIGHT TONE WITH FACEBOOK LIVE VIDEO: The Economist has been experimenting with Facebook Live since January and, along the way, is trying to figure out how to translate its polished journalistic brand to the raw format. The publisher is still looking for that balance between “scrappy and slick,” said deputy community editor Adam Smith. “No one wants to do turn Facebook Live into a TV broadcast, but it is difficult to deviate from the things you have done before.”

MEN'S HEALTH EDITOR BILL PHILLIPS OUT UNDER NEW RODALE EDITORIAL DIRECTOR MIKE LAFAVORE: According to insiders, Phillips, who worked at Rodale for 13 years, was let go. Phillips, who became vice president and editor in chief in November 2012, will for the time being be succeeded by executive editor Bill Stump.  there has been a steady stream of departures (mixed with layoffs) since Lafavore returned to the company in the fall.They include executive editor Matt Marion, vice president and editor Moore, senior art director Mike Schnaidt, senior editors Bill Paynter and Clint Carter, deputy art director Grace Martinez and managing editor John McCarthy.

TWITTER HAS LOST 60% OF ITS VALUE IN 12 MONTHS: June 11 marked the one-year anniversary of the date former Twitter CEO Dick Costolo unexpectedly announced he was leaving the company, passing the reins to current CEO and co-founder Jack Dorsey. Since Costolo announced he was stepping down, Twitter’s stock has fallen more than 60 percent, closing Friday near an all-time low at $14.02.

SNAPCHAT, A MEDIA POWER?: By now, Facebook and Google are well-established as the must-buy platforms for digital advertising. But as Snapchat grows in popularity, especially among millennials and Gen Z, it will become a more important part of the landscape, say industry insiders. While advertising industry execs think Snapchat has the potential to become a big force, it needs to improve in several areas.

AXEL SPRINGER IS EXPANDING U.S FOOT PRINT WITH ACQUISITION OF E-MARKETER: Axel Springer has agreed to buy market researcher EMarketer at an enterprise value of about $250 million, as the German publisher continues its push into digital businesses and English-speaking markets. The German media group is paying $242 million for 93 percent of the shares in EMarketer, taking the company’s cash and debt into account.

 

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