JANA PARTNERS CONCERNED ABOUT THE AVERAGE AGE OF TIME INC BOARD MEMBERS AND IS PUSHING A "CONSOLIDATION" PLAN
Barry Rosenstein’s Jana Partners, the activist investors who recently bought a stake in Time Inc., are said to be pushing a “consolidation thesis” as one possible way to unlock shareholder value for the sluggish stock, sources tell Media Ink.
THE POPE WILL ADDRESS TIME INC'S FORTUNE/TIME GLOBAL FORUM IN ROME
“I think business leaders feel there is a breakdown in trust of business’ ability to make positive change in the world, and they want to address that,” said Time Chief Content Officer Alan Murray. “And I think the Vatican recognizes the value of meeting people from the Fortune Global 500.”
HEARST NAMES MICHELE PROMAULAYKO NEW COSMO EDITOR IN CHIEF, EDITORIAL DIRECTOR OF SEVENTEEN MAGAZINE
Hearst has named former Yahoo Health Editor Michele Promaulayko to succeed Joanna Coles as editor in chief of Cosmopolitan. Ms. Promaulayko will also serve as editorial director of Seventeen. She once served as Cosmopolitan's Executive Editor.
BONNIER IS SHUTTING DOWN SOME PRINT MAGAZINES
Bonnier Corp is getting out of the collapsing print business with its travel magazines. The company said it will shut down the print editions of Islands magazine, Destination Weddings & Honeymoons and Caribbean Travel & Life magazines. As a result, over a dozen staffers will lose their jobs
SEVENTEEN WILL NOW PRODUCE ONLY SIX ISSUES PER YEAR
The reduction included job cuts on the business side. Those layoffs follow the dismissal of editor in chief Michelle Tan, who was let go while on maternity leave. The title had been under the purview of Joanna Coles, who on Tuesday was promoted to Hearst’s chief content officer after having held the role of editorial director of the teen glossy and editor in chief of Cosmopolitan. Taking on those roles is Michele Promaulayko, who will likely play a part in amping up Seventeen’s digital presence.
JUST IN TIME FOR NEW YORK FASHION WEEK, VOGUE LAUNCHES SNAPCHAT CHANNEL
Kicking off the first batch of features to be released on the social platform is “The 5 Rules of the U.S. Open According to Anna Wintour,” which shows the publication’s editor in chief and resident tennis aficionado on location at the games in Queens.
AFTER BEING HEAVILY DEPENDENT ON FACEBOOK, PUBLISHERS ARE NOW TRYING TO PRY READERS AWAY FROM SOCIAL MEDIA
Publishers have never been more dependent on Facebook, which is why a growing number of them are turning to digital marketing tools and tactics to pry readers away from social media and strike up long-term relationships with them via email subscriptions, digital memberships and other services. These tricks won’t work on every part of a publisher’s audience, but that isn’t stopping publishers from trying to super-serve every audience segment they can find.
FOX SETTLES WITH GRETCHEN CARLSON WITH $20 MILLION PAYOUT AND PUBLIC APOLOGY
"21st Century Fox is pleased to announce that it has settled Gretchen Carlson's lawsuit," a statement from the company said. "During her tenure at Fox News, Gretchen exhibited the highest standards of journalism and professionalism. She developed a loyal audience and was a daily source of information for many Americans. We are proud that she was part of the Fox News team. We sincerely regret and apologize for the fact that Gretchen was not treated with the respect that she & all our colleagues deserve."
FORMER POLITICO CEO JIM VANDEHEI RAISES $10 MILLION FOR FORTHCOMING DIGITAL VENTURE
Ever since former Politico CEO Jim VandeHei left the company last April, he's been teasing the launch of a new digital media company. Now, that company has investors -- including NBCUniversal, which has put money into several digital media properties, and Lerer Hippeau Ventures, whose managing partner, Ken Lerer, co-founded the Huffington Post and is chairman of BuzzFeed.
TWITTER'S BOARD LOOKING AT WHATS NEXT FOR THE EMBATTLED SOCIAL MEDIA PLATFORM
The social communication company’s board of directors is set to meet this Thursday in San Francisco, and there are plenty of things to discuss. That includes, said sources, its fate as a standalone company. That’s no surprise, since Twitter has been the subject of numerous takeover and acquisition rumors over the last few months, each one sending the stock up as investors hold out hope that Twitter will find a buyer.
FOX INJECTS $6.5 MILLION INTO DRIVE TRIBE
DriveTribe, a new online motoring venture from the former hosts of the U.K. auto show “Top Gear,” received $6.5 million in funding from 21st Century Fox. The investment will back a digital product that includes videos, articles, social media and interactive programming.
YOUTUBE PLAYING CATCH-UP IN PAID STREAMING
Can YouTube have more success in the paid streaming television business? Some industry analysts are skeptical, saying YouTube faces many hurdles. Chief among them is the fierce competition. YouTube is playing catch-up to more established players such as Netflix, Amazon and Hulu.
SNAPCHAT IS ABOUT TO HIT $1 BILLION IN AD REVENUE
Snapchat may have been slower than its rivals to figure out advertising, but the social-media platform is “poised for explosive growth in ad revenues,” eMarketer reported. The digital market research firm forecasts $366.69 million in advertising sales for Snapchat this year.
LONG TIME FOX NEWS HOST GRETA VAN SUSTEREN DEPARTS AFTER $20 MILLION SETTLEMENT REACHED IN SEXUAL HARASSMENT CASE
Greta Van Susteren, who has hosted a top-rated evening program at Fox News for 14 years, is leaving the network. The abrupt announcement was coupled with word that Brit Hume, Fox’s senior political analyst, will take over as host of “On the Record” through the election.
TIME INC BUYS COMSUMER INSIGHTS PROVIDER
Time Inc. has acquired Bizrate Insights, which provides consumer surveys for retailers, a move the publisher called another step toward becoming a “data-driven organization.” Bizrate Insights collects feedback from customers, helping retailers gauge consumer satisfaction and providing details on topics like online “cart abandonment” and comparison of e-commerce metrics by device type.
RODALE IS LAUNCHING A BOOK PUBLISHING IMPRINT FOR KIDS
Rodale has announced plans to form a new imprint called Rodale Kids. The launch date has been scheduled for 2017. Rodale Kids plans to publish 30 to 45 books a year, with content aimed at ages ranging from infants to teens.
WASHINGTON POST READIES SUPER FAST MOBILE WEBSITE POWERED BY GOOGLE
The Washington Post says it has a new “lightning-fast” mobile website, which it plans to roll out gradually before the end of the year. The publisher said the new site, based on Google technology called Progressive Web Apps, will load mobile webpages in under a second, compared with around three seconds for its current mobile site.