The Los Angeles Times came weather-wrapped Thursday morning. There was more plastic than paper, or so it seemed. There wasn’t even enough paper, apparently, to run a proper obituary for Chuck Philips, the Pulitzer Prize-winning former Times reporter who died last month.
Details about Chuck’s passing have been sparse — he is said to have requested no postmortem attention. But the Times did manage to print a brief, paid death notice for three days running. Go figure.
Chuck, as is well known in these parts, lost his job after succumbing to a hoax in his long quest to untangle the deadly rap music wars. He later said that a humiliating Page 1 apology and retraction in the Times was overblown and inaccurate. Be that as it may, he never lost the love and respect of colleagues, including myself, who found him a joy to know.
Dave Robb. Cari Beauchamp. Chuck Philips.
Details about Chuck’s passing have been sparse — he is said to have requested no postmortem attention. But the Times did manage to print a brief, paid death notice for three days running. Go figure.
Chuck, as is well known in these parts, lost his job after succumbing to a hoax in his long quest to untangle the deadly rap music wars. He later said that a humiliating Page 1 apology and retraction in the Times was overblown and inaccurate. Be that as it may, he never lost the love and respect of colleagues, including myself, who found him a joy to know.
Dave Robb. Cari Beauchamp. Chuck Philips.
- 2/2/2024
- by Michael Cieply
- Deadline Film + TV
Just a day after folding, embattled startup The Messenger has been sued by former employees.
The proposed class action, filed in New York federal court Thursday, alleges that the Jimmy Finkelstein-led news outlet failed to give more than 300 employees proper notice of their terminations in violation of the state’s Worker Adjustment and Retraining Notification Act, which requires at least 90 days notice of a mass layoff.
Workers at The Messenger discovered Wednesday the company was shutting down for good from The New York Times. Hours later, the site only returned a white screen with “The Messenger” and an email address. No articles could be searched. Employees are not receiving severance.
The suit was brought by producer Pilar Belendez-Desha and seeks to represent all former workers impacted by the terminations. It seeks to recover up to 60 days in unpaid wages and benefits.
The complaint notes that the ex-workers were terminated without...
The proposed class action, filed in New York federal court Thursday, alleges that the Jimmy Finkelstein-led news outlet failed to give more than 300 employees proper notice of their terminations in violation of the state’s Worker Adjustment and Retraining Notification Act, which requires at least 90 days notice of a mass layoff.
Workers at The Messenger discovered Wednesday the company was shutting down for good from The New York Times. Hours later, the site only returned a white screen with “The Messenger” and an email address. No articles could be searched. Employees are not receiving severance.
The suit was brought by producer Pilar Belendez-Desha and seeks to represent all former workers impacted by the terminations. It seeks to recover up to 60 days in unpaid wages and benefits.
The complaint notes that the ex-workers were terminated without...
- 2/1/2024
- by Winston Cho
- The Hollywood Reporter - Movie News
The Messenger founder Jimmy Finkelstein held a last minute discussion with Los Angeles Times owner Patrick Soon-Shiong about buying The Messenger, three people familiar with the situation have told The Hollywood Reporter.
The news comes just days after the L.A. Times laid off 115 newsroom employees. Soon-Shiong spoke with Finkelstein on Tuesday, the sources said. Soon-Shiong then offered what has been described as “lowball” figure for the flailing publication, but by Wednesday the offer had fallen through, according to the sources.
Just hours later, The Messenger was shuttered with 300 staffers let go. “I am personally devastated to share that we have made the painfully hard decision to shut down The Messenger, effective immediately,” Finkelstein told shattered staff in an email. The New York Times first reported deal talks between Soon-Shiong and Finkelstein.
“Over the past few weeks, literally until last night, we exhausted every option available and have endeavored to raise sufficient capital to reach profitability.
The news comes just days after the L.A. Times laid off 115 newsroom employees. Soon-Shiong spoke with Finkelstein on Tuesday, the sources said. Soon-Shiong then offered what has been described as “lowball” figure for the flailing publication, but by Wednesday the offer had fallen through, according to the sources.
Just hours later, The Messenger was shuttered with 300 staffers let go. “I am personally devastated to share that we have made the painfully hard decision to shut down The Messenger, effective immediately,” Finkelstein told shattered staff in an email. The New York Times first reported deal talks between Soon-Shiong and Finkelstein.
“Over the past few weeks, literally until last night, we exhausted every option available and have endeavored to raise sufficient capital to reach profitability.
- 2/1/2024
- by Lachlan Cartwright
- The Hollywood Reporter - Movie News
One of the nation’s top film critics, Justin Chang, is leaving the beleaguered Los Angeles Times, taking his fluid prose and winning personality to The New Yorker.
Chang previously worked for years at Variety, from 2004 to 2016, when he moved to the LA Times. He starts his new position on Feb. 12.
The New Yorker editor-in-chief David Remnick welcomed Chang in a memo to magazine staffers.
“Justin and his family are based in Los Angeles, but he’ll be visiting us in New York from time to time,” Remnick said in the memo, which was obtained by Deadline. He ticked off key points of Chang’s impressive bio — “named film critic of the year at the Los Angeles Press Club’s National Arts and Entertainment Awards. His book, ‘FilmCraft: Editing,’ was published in 2011. He serves as chair of the National Society of Film Critics and secretary of the Los Angeles Film Critics Association...
Chang previously worked for years at Variety, from 2004 to 2016, when he moved to the LA Times. He starts his new position on Feb. 12.
The New Yorker editor-in-chief David Remnick welcomed Chang in a memo to magazine staffers.
“Justin and his family are based in Los Angeles, but he’ll be visiting us in New York from time to time,” Remnick said in the memo, which was obtained by Deadline. He ticked off key points of Chang’s impressive bio — “named film critic of the year at the Los Angeles Press Club’s National Arts and Entertainment Awards. His book, ‘FilmCraft: Editing,’ was published in 2011. He serves as chair of the National Society of Film Critics and secretary of the Los Angeles Film Critics Association...
- 1/30/2024
- by Jill Goldsmith
- Deadline Film + TV
Film critic and Variety alum Justin Chang is leaving the Los Angeles Times for The New Yorker. He will join the publication as a film critic on Feb. 12.
David Remnick, the editor of The New Yorker, made the announcement on Tuesday morning. Chang, who is based in Los Angeles, will visit New York “from time to time,” Remnick said.
Chang was a longtime film critic as Variety, starting in 2004. He left to join the Los Angeles Times in 2016. Before joining Variety, he was a freelance entertainment writer for the Orange County Register and the L.A. Times.
Chang has been named film critic of the year at the Los Angeles Press Club’s National Arts and Entertainment Awards. His book, “FilmCraft: Editing,” was published in 2011. He serves as chair of the National Society of Film Critics and secretary of the Los Angeles Film Critics Association, and is a member of the...
David Remnick, the editor of The New Yorker, made the announcement on Tuesday morning. Chang, who is based in Los Angeles, will visit New York “from time to time,” Remnick said.
Chang was a longtime film critic as Variety, starting in 2004. He left to join the Los Angeles Times in 2016. Before joining Variety, he was a freelance entertainment writer for the Orange County Register and the L.A. Times.
Chang has been named film critic of the year at the Los Angeles Press Club’s National Arts and Entertainment Awards. His book, “FilmCraft: Editing,” was published in 2011. He serves as chair of the National Society of Film Critics and secretary of the Los Angeles Film Critics Association, and is a member of the...
- 1/30/2024
- by Jordan Moreau
- Variety Film + TV
Film critic Justin Chang has joined The New Yorker.
One of the most celebrated critics in the U.S., Chang has worked for several years at the Los Angeles Times where he’s published weekly reviews as well as longer-form essays, such as a deep dive on how “omission does not mean erasure” when it comes “Oppenheimer.” Before the L.A. Times, he worked for some years at Variety.
Chang is one of the top wordsmiths in film criticism today, devoted to sentence-level beauty in his writing that makes him a perfect fit for the New Yorker. He is also the most glorious and shameless pun-meister of the critical sphere, issuing his bon mots with abandon on Twitter/X. A recent example? “No Greta Gerwig in director or Greta Lee in lead actress, re-Greta-bly.” Though his all-time best may be referring to “Mektoub” director Abdellatif Kechiche as “a gluteus maximalist,” and...
One of the most celebrated critics in the U.S., Chang has worked for several years at the Los Angeles Times where he’s published weekly reviews as well as longer-form essays, such as a deep dive on how “omission does not mean erasure” when it comes “Oppenheimer.” Before the L.A. Times, he worked for some years at Variety.
Chang is one of the top wordsmiths in film criticism today, devoted to sentence-level beauty in his writing that makes him a perfect fit for the New Yorker. He is also the most glorious and shameless pun-meister of the critical sphere, issuing his bon mots with abandon on Twitter/X. A recent example? “No Greta Gerwig in director or Greta Lee in lead actress, re-Greta-bly.” Though his all-time best may be referring to “Mektoub” director Abdellatif Kechiche as “a gluteus maximalist,” and...
- 1/30/2024
- by Christian Blauvelt and Samantha Bergeson
- Indiewire
It wasn’t all that long ago that a billionaire buying a storied news publication was a sign of hope and optimism. After all, they had money to lose, and they earned their fortunes by creating something new. Maybe they could figure out how to make media work?
And what about private equity? It’s an industry premised on turnarounds: acquiring underperforming companies, reimagining them and making them succeed.
Or the classic family-owned publication: Keeping a business in the family with no goal of excessive profits, just a certain amount of stability to keep the legacy alive.
Unfortunately, it seems, no category of owner appears able to salvage a media business in decline, with business models still stuck in the past (programmatic, anyone?) and editorial models built for a world before Facebook, TikTok and artificial intelligence.
The media sector is facing a crisis unlike anything seen since the 2008 financial mess,...
And what about private equity? It’s an industry premised on turnarounds: acquiring underperforming companies, reimagining them and making them succeed.
Or the classic family-owned publication: Keeping a business in the family with no goal of excessive profits, just a certain amount of stability to keep the legacy alive.
Unfortunately, it seems, no category of owner appears able to salvage a media business in decline, with business models still stuck in the past (programmatic, anyone?) and editorial models built for a world before Facebook, TikTok and artificial intelligence.
The media sector is facing a crisis unlike anything seen since the 2008 financial mess,...
- 1/25/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Peter Bart: A Biden-Trump Rematch Dims Cable News Prospects And A Print Media Biz Already In Trouble
“Sequels suck, whether you’re making them or watching them.” So said one storied filmmaker in rejecting a rich movie deal (details below), and he’d likely react the same if offered Biden vs. Trump.
The New Hampshire primary results this week reinforced media alarm over a projected 2024 rerun that could fracture ratings and reduce print coverage to “meaningless dribble,” in the words of one publisher.
Can there be a fix? Mark Thompson, the new CNN chief who has seen half his linear audience disappear, optimistically promises a digital upheaval not only in election coverage but beyond.
On the print side, however, chaos prevails: The Los Angeles Times has lost its top editors and roughly half of its news staff and sold off the San Diego Union-Tribune. Meanwhile, the Baltimore Sun, once also owned by the Times, has been acquired by Sinclair, a TV station behemoth whose leader, David Smith,...
The New Hampshire primary results this week reinforced media alarm over a projected 2024 rerun that could fracture ratings and reduce print coverage to “meaningless dribble,” in the words of one publisher.
Can there be a fix? Mark Thompson, the new CNN chief who has seen half his linear audience disappear, optimistically promises a digital upheaval not only in election coverage but beyond.
On the print side, however, chaos prevails: The Los Angeles Times has lost its top editors and roughly half of its news staff and sold off the San Diego Union-Tribune. Meanwhile, the Baltimore Sun, once also owned by the Times, has been acquired by Sinclair, a TV station behemoth whose leader, David Smith,...
- 1/25/2024
- by Peter Bart
- Deadline Film + TV
After the sudden resignation of a top editor and a transformational round of layoffs, The Los Angeles Times‘ owner has named the newspaper’s new interim leader: editorial page editor Terry Tang.
Times owner Patrick Soon-Shiong announced the appointment on Thursday, telling staff that the decision heralded a new direction for the organization. “We are committed to important public service journalism that our community relies on while accelerating new, novel approaches. We will execute decisively to engage new audiences. Today’s announcement begins that implementation,” Soon-Shiong said in a memo to staffers.
Tang, who will continue to edit the editorial page as she assumes the role, is the first woman to lead the paper as editor in the history of the Times. She will additionally bring on a managing editor in her new roles.
The appointment brings some leadership direction to the Times, which has been reeling since former executive...
Times owner Patrick Soon-Shiong announced the appointment on Thursday, telling staff that the decision heralded a new direction for the organization. “We are committed to important public service journalism that our community relies on while accelerating new, novel approaches. We will execute decisively to engage new audiences. Today’s announcement begins that implementation,” Soon-Shiong said in a memo to staffers.
Tang, who will continue to edit the editorial page as she assumes the role, is the first woman to lead the paper as editor in the history of the Times. She will additionally bring on a managing editor in her new roles.
The appointment brings some leadership direction to the Times, which has been reeling since former executive...
- 1/25/2024
- by Katie Kilkenny
- The Hollywood Reporter - Movie News
Update: The layoffs of more than 20% of the Los Angeles Times newsroom elicited sharp criticism from the guild, saying that it was handled in a “brutal and inhumane way.”
“The Times chose long planned mass layoffs via a webinar in which staff members weren’t allowed so much as a question,” the guild said in a statement.
The guild claimed that management wanted them to agree “extreme layoff terms that it was unwilling to share on the record — essentially asking journalists to sign a deal without telling them what was in that deal.” The union also contended that the Times tried to gut the seniority process and “pit young journalists of color against more senior employees.”
“The staffing cut is the fruit of years of middling strategy, the absence of a publisher and no clear direction,” the guild said. The union credited the walkout on Friday with helping to save “scores of newsroom jobs,...
“The Times chose long planned mass layoffs via a webinar in which staff members weren’t allowed so much as a question,” the guild said in a statement.
The guild claimed that management wanted them to agree “extreme layoff terms that it was unwilling to share on the record — essentially asking journalists to sign a deal without telling them what was in that deal.” The union also contended that the Times tried to gut the seniority process and “pit young journalists of color against more senior employees.”
“The staffing cut is the fruit of years of middling strategy, the absence of a publisher and no clear direction,” the guild said. The union credited the walkout on Friday with helping to save “scores of newsroom jobs,...
- 1/23/2024
- by Ted Johnson
- Deadline Film + TV
The Los Angeles Times is set to cut at least 115 newsroom positions in a round of layoffs that have been anticipated since last week.
That’s according to the new story in the paper that features an interview with owner Patrick Soon-Shiong. He said Tuesday that the Times needs to bring in more readers who could help build subscription and advertising revenue and stem losses of $30 million to $40 million a year. “Today’s decision is painful for all, but it is imperative that we act urgently and take steps to build a sustainable and thriving paper for the next generation. We are committed to doing so,” Soon-Shiong told the Times. According to Soon-Shiong, he has invested almost $1 billion in the paper since acquiring it in 2018.
The layoffs constitute more than 20 percent of the newsroom at the Times, according to the paper. They are expected to include both union staffers and managers,...
That’s according to the new story in the paper that features an interview with owner Patrick Soon-Shiong. He said Tuesday that the Times needs to bring in more readers who could help build subscription and advertising revenue and stem losses of $30 million to $40 million a year. “Today’s decision is painful for all, but it is imperative that we act urgently and take steps to build a sustainable and thriving paper for the next generation. We are committed to doing so,” Soon-Shiong told the Times. According to Soon-Shiong, he has invested almost $1 billion in the paper since acquiring it in 2018.
The layoffs constitute more than 20 percent of the newsroom at the Times, according to the paper. They are expected to include both union staffers and managers,...
- 1/23/2024
- by Katie Kilkenny
- The Hollywood Reporter - Movie News
In response to “significant” planned layoffs, unionized staffers at the Los Angeles Times are launching a one-day strike on Friday.
The walkout — which the Los Angeles Times Guild is calling the first newsroom union strike in the paper’s history — is taking place in response to layoffs that management announced on Thursday as a means of reducing the paper’s 2024 budget. Staff members nationwide will be participating, the union said. The Times Guild represents around 400 editorial employees of the paper, including reporters, photographers and editors.
Timed to the walkout, the union will be holding a “Rally to Save Local Journalism” in downtown Los Angeles at the Gloria Molina Grand Park on Friday at noon. “The management of the Los Angeles Times has announced that it intends to imminently lay off a significant number of journalists, and is asking the Guild to gut seniority protections in our union contract so they...
The walkout — which the Los Angeles Times Guild is calling the first newsroom union strike in the paper’s history — is taking place in response to layoffs that management announced on Thursday as a means of reducing the paper’s 2024 budget. Staff members nationwide will be participating, the union said. The Times Guild represents around 400 editorial employees of the paper, including reporters, photographers and editors.
Timed to the walkout, the union will be holding a “Rally to Save Local Journalism” in downtown Los Angeles at the Gloria Molina Grand Park on Friday at noon. “The management of the Los Angeles Times has announced that it intends to imminently lay off a significant number of journalists, and is asking the Guild to gut seniority protections in our union contract so they...
- 1/19/2024
- by Katie Kilkenny
- The Hollywood Reporter - Movie News
According to his resignation announcement, Kevin Merida’s abrupt Jan. 9 exit as executive editor of the Los Angeles Times came about through a “mutual agreement” with the paper’s owner, Dr. Patrick Soon-Shiong, a biotech magnate turned publishing dilettante. This may well be true. From everything that can be gleaned about Merida’s less-than-three-year bumpy tenure as Soon-Shiong’s No. 1 at the 143-year-old publishing institution, there was plenty of mutual dissatisfaction, mutual distrust and maybe even mutual disdain.
Times watchers will recall that Merida’s arrival at the paper in 2021 was greeted with great fanfare. The 66-year-old former Washington Post editor and Pulitzer finalist had been hired after a grueling months-long head-hunting expedition that involved some 30 aspirants, including New York Times executive editor Dean Baquet and former Hollywood Reporter editor (and Ankler co-founder) Janice Min, as well as a slew of in-house contenders (deputy managing editor Julia Turner, New York...
Times watchers will recall that Merida’s arrival at the paper in 2021 was greeted with great fanfare. The 66-year-old former Washington Post editor and Pulitzer finalist had been hired after a grueling months-long head-hunting expedition that involved some 30 aspirants, including New York Times executive editor Dean Baquet and former Hollywood Reporter editor (and Ankler co-founder) Janice Min, as well as a slew of in-house contenders (deputy managing editor Julia Turner, New York...
- 1/18/2024
- by Jason McGahan
- The Hollywood Reporter - Movie News
The Los Angeles Times is making a change atop its newsroom.
Kevin Merida, who has been executive editor of the storied newspaper for the last three years, told staff Tuesday that he would be leaving the company, according to a memo viewed by The Hollywood Reporter.
“Today, with a heavy heart, I announce that I am leaving The Times,” Merida wrote. “I made the decision, in consultation with Patrick, after considerable soul-searching about my career at this stage and how best to be of value to the profession I love.”
The news caught the Times newsroom off-guard, according to one source.
Merida joined the Times from ESPN in 2021, with owner Patrick Soon-Shiong saying at the time that the editor had “a clear understanding of the rigor necessary for independent journalism and how to translate that journalism to multiple platforms.”
A newsroom veteran, Merida had led ESPN’s The Undefeated since...
Kevin Merida, who has been executive editor of the storied newspaper for the last three years, told staff Tuesday that he would be leaving the company, according to a memo viewed by The Hollywood Reporter.
“Today, with a heavy heart, I announce that I am leaving The Times,” Merida wrote. “I made the decision, in consultation with Patrick, after considerable soul-searching about my career at this stage and how best to be of value to the profession I love.”
The news caught the Times newsroom off-guard, according to one source.
Merida joined the Times from ESPN in 2021, with owner Patrick Soon-Shiong saying at the time that the editor had “a clear understanding of the rigor necessary for independent journalism and how to translate that journalism to multiple platforms.”
A newsroom veteran, Merida had led ESPN’s The Undefeated since...
- 1/9/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
The Los Angeles Times announced newsroom layoffs today for the first time since biotech billionaire Patrick Soon-Shiong bought the paper in 2018. The cuts include 74 positions, representing about 13% of the total newsroom headcount.
Per the paper’s Meg James:
Full-time and temporary workers will be let go, including a handful of managers. Reporting positions are expected to be largely spared but production staff will be trimmed, including editors on the news and copy desks as well as the audience engagement team. Some photographers and audio producers will also be cut.
Lat Executive Editor Kevin Merida announced the move in a note to staff. Merida indicated the decision was “made more urgent by the economic climate and the unique challenges of our industry.”
He called such decisions “agonizing,” adding, “We will be saying goodbye to some tremendous colleagues.”
The New York Times reported that Merida also wrote, “Collectively, we have done...
Per the paper’s Meg James:
Full-time and temporary workers will be let go, including a handful of managers. Reporting positions are expected to be largely spared but production staff will be trimmed, including editors on the news and copy desks as well as the audience engagement team. Some photographers and audio producers will also be cut.
Lat Executive Editor Kevin Merida announced the move in a note to staff. Merida indicated the decision was “made more urgent by the economic climate and the unique challenges of our industry.”
He called such decisions “agonizing,” adding, “We will be saying goodbye to some tremendous colleagues.”
The New York Times reported that Merida also wrote, “Collectively, we have done...
- 6/7/2023
- by Tom Tapp
- Deadline Film + TV
The 10,000-square-foot lobby of the Academy Museum of Motion Pictures, which will open to the public on Sept. 30, is being named after film legend Sidney Poitier, the museum announced on Monday.
The Sidney Poitier Grand Lobby was made possible through a campaign supported by Ambassador Nicole Avant and Netflix co-ceo and Academy Museum Board of Trustees chair Ted Sarandos, the Perenchio Foundation, Tyler Perry and Oprah Winfrey, with major gifts from Patrick Soon-Shiong and Michele Soon-Shiong, among additional donors.
“It is an incredible honor to name our grand lobby — the nucleus of the Academy Museum — in celebration of Sir Sidney Poitier, whose legacy of ...
The Sidney Poitier Grand Lobby was made possible through a campaign supported by Ambassador Nicole Avant and Netflix co-ceo and Academy Museum Board of Trustees chair Ted Sarandos, the Perenchio Foundation, Tyler Perry and Oprah Winfrey, with major gifts from Patrick Soon-Shiong and Michele Soon-Shiong, among additional donors.
“It is an incredible honor to name our grand lobby — the nucleus of the Academy Museum — in celebration of Sir Sidney Poitier, whose legacy of ...
- 8/30/2021
- The Hollywood Reporter - Movie News
The 10,000-square-foot lobby of the Academy Museum of Motion Pictures, which will open to the public on Sept. 30, is being named after film legend Sidney Poitier, the museum announced on Monday.
The Sidney Poitier Grand Lobby was made possible through a campaign supported by Ambassador Nicole Avant and Netflix co-ceo and Academy Museum Board of Trustees chair Ted Sarandos, the Perenchio Foundation, Tyler Perry and Oprah Winfrey, with major gifts from Patrick Soon-Shiong and Michele Soon-Shiong, among additional donors.
“It is an incredible honor to name our grand lobby — the nucleus of the Academy Museum — in celebration of Sir Sidney Poitier, whose legacy of ...
The Sidney Poitier Grand Lobby was made possible through a campaign supported by Ambassador Nicole Avant and Netflix co-ceo and Academy Museum Board of Trustees chair Ted Sarandos, the Perenchio Foundation, Tyler Perry and Oprah Winfrey, with major gifts from Patrick Soon-Shiong and Michele Soon-Shiong, among additional donors.
“It is an incredible honor to name our grand lobby — the nucleus of the Academy Museum — in celebration of Sir Sidney Poitier, whose legacy of ...
- 8/30/2021
- The Hollywood Reporter - Film + TV
Billionaire Philip Anschutz, founder of sports and entertainment giant Aeg, has reached an agreement to sell his stake in the Los Angeles Lakers to the owners of the Los Angeles Dodgers, according to multiple people familiar with the deal.
Anschutz’s 27% stake will be acquired by Dodgers owners Mark Walter and Todd Boehly, according to sources who were granted anonymity because the proposed sale hasn’t been approved by the NBA Board of Governors. The news was first reported June 25 by Variety‘s sibling sports news brand Sportico.
Aeg Chief Executive Officer Dan Beckerman in an interview said the proposed transaction “is part of some financial planning and redeployment of capital to other Aeg projects and growth initiatives,” specifically mentioning venues, real estate, ticketing and live entertainment projects around the globe.
The plan is “expanding business lines and geography,” Beckerman said, declining to address how much the buyer has agreed...
Anschutz’s 27% stake will be acquired by Dodgers owners Mark Walter and Todd Boehly, according to sources who were granted anonymity because the proposed sale hasn’t been approved by the NBA Board of Governors. The news was first reported June 25 by Variety‘s sibling sports news brand Sportico.
Aeg Chief Executive Officer Dan Beckerman in an interview said the proposed transaction “is part of some financial planning and redeployment of capital to other Aeg projects and growth initiatives,” specifically mentioning venues, real estate, ticketing and live entertainment projects around the globe.
The plan is “expanding business lines and geography,” Beckerman said, declining to address how much the buyer has agreed...
- 6/26/2021
- by Scott Soshnick and Eben Novy-Williams
- Variety Film + TV
A major hedge fund with a reputation for aggressive cost cutting got the greenlight on Friday to acquire Tribune Publishing, the owner of big city dailies such as The Chicago Tribune, The Baltimore Sun, the Orlando Sentinel and The New York Daily News.
Tribune shareholders approved the deal with Alden Global Capital, dashing the hopes of a number of employees at the publications who fear that they will soon see jobs lost and coverage scaled back. There had been hopes that the largest shareholder of Tribune, Patrick Soon-Shiong, who owns the Los Angeles Times and the San Diego Union Tribune, would try to block the deal, but he abstained from voting. A spokesperson said that he viewed his Tribune stake, which is almost 24%, as a “passive investment,” and that he was concentrating on his California holdings, which are facing their own set of financial challenges.
The deal was valued at $630 million.
Tribune shareholders approved the deal with Alden Global Capital, dashing the hopes of a number of employees at the publications who fear that they will soon see jobs lost and coverage scaled back. There had been hopes that the largest shareholder of Tribune, Patrick Soon-Shiong, who owns the Los Angeles Times and the San Diego Union Tribune, would try to block the deal, but he abstained from voting. A spokesperson said that he viewed his Tribune stake, which is almost 24%, as a “passive investment,” and that he was concentrating on his California holdings, which are facing their own set of financial challenges.
The deal was valued at $630 million.
- 5/21/2021
- by Ted Johnson
- Deadline Film + TV
Kevin Merida, ESPN senior vice president and editor-in-chief of the Undefeated, has been named the next executive editor of the Los Angeles Times.
Merida had been seen as a leading candidate to lead the Times newsroom following a five-month search. He’ll succeed Norman Pearlstine, who stepped down in December.
“I’m going to do everything I can to make this the greatest media outlet for the people of California, of L.A. — and beyond,” Merida said in an interview with the Times. “I see nothing but opportunity. I think this can be the most innovative media company in the country.”
Merida will start in June.
The Times, owned by Patrick and Michele Soon-Shiong, has endured years of turmoil, as it has faced the challenge of transitioning to digital, with its subscriber base far behind The New York Times and The Washington Post. The Covid-19 pandemic only added to advertising woes,...
Merida had been seen as a leading candidate to lead the Times newsroom following a five-month search. He’ll succeed Norman Pearlstine, who stepped down in December.
“I’m going to do everything I can to make this the greatest media outlet for the people of California, of L.A. — and beyond,” Merida said in an interview with the Times. “I see nothing but opportunity. I think this can be the most innovative media company in the country.”
Merida will start in June.
The Times, owned by Patrick and Michele Soon-Shiong, has endured years of turmoil, as it has faced the challenge of transitioning to digital, with its subscriber base far behind The New York Times and The Washington Post. The Covid-19 pandemic only added to advertising woes,...
- 5/3/2021
- by Ted Johnson
- Deadline Film + TV
The SAG-AFTRA National Board extended the dues relief program for actors still struggling financially due to the Covid-19 pandemic as well as a Diversity Action Plan to combat bias and discrimination in the industry.
The plan, which was discussed at a board meeting this weekend, includes the creation of diversity committees serving Middle Eastern and North African (Mena) and Latino members and implicit bias training for the guild’s national and local boards. It also introduced the adoption of a new membership rule — Rule 7 — which SAG-AFTRA describes as “explicitly prohibiting harassment and abuse, including sexual harassment, intimidation, and retaliation for the filing of complaints, and making violations subject to disciplinary action.”
To enforce this new rule, the board is considering a motion to extend the statute of limitations on member disciplinary charges relating to sexual abuse from six months to 10 years. The new initiatives come after the guild held a summit called “Stop the Hate,...
The plan, which was discussed at a board meeting this weekend, includes the creation of diversity committees serving Middle Eastern and North African (Mena) and Latino members and implicit bias training for the guild’s national and local boards. It also introduced the adoption of a new membership rule — Rule 7 — which SAG-AFTRA describes as “explicitly prohibiting harassment and abuse, including sexual harassment, intimidation, and retaliation for the filing of complaints, and making violations subject to disciplinary action.”
To enforce this new rule, the board is considering a motion to extend the statute of limitations on member disciplinary charges relating to sexual abuse from six months to 10 years. The new initiatives come after the guild held a summit called “Stop the Hate,...
- 4/18/2021
- by Jeremy Fuster
- The Wrap
The Los Angeles Times received a Paycheck Protection Program loan for $10 million as advertising plunged due to the Covid-19 pandemic.
The Times reported that the loan will cover employee salaries and other costs.
“We lost tens of millions of dollars in advertising revenue pretty much instantly in March 2020, and the pandemic continues to take a toll on the public health and take a toll economically,” President and Chief Operating Officer Chris Argentieri told the publication. “We are still operating with great uncertainty.”
A spokesperson for the Times confirmed the loan, and said that the paper was not previously eligible until the terms of the Ppp program were changed.
In December, lawmakers changed the PPP program to open it up to a wider number of news outlets. Although it was initially tailored for individual small businesses, individual newspapers, radio stations and TV outlets that are part of larger media companies may now qualify.
The Times reported that the loan will cover employee salaries and other costs.
“We lost tens of millions of dollars in advertising revenue pretty much instantly in March 2020, and the pandemic continues to take a toll on the public health and take a toll economically,” President and Chief Operating Officer Chris Argentieri told the publication. “We are still operating with great uncertainty.”
A spokesperson for the Times confirmed the loan, and said that the paper was not previously eligible until the terms of the Ppp program were changed.
In December, lawmakers changed the PPP program to open it up to a wider number of news outlets. Although it was initially tailored for individual small businesses, individual newspapers, radio stations and TV outlets that are part of larger media companies may now qualify.
- 3/24/2021
- by Ted Johnson
- Deadline Film + TV
Biotech billionaire investor Patrick Soon-Shiong Friday blasted a report that he’s exploring a sale of the Los Angeles Times, saying he’s “committed” to the paper.
He tweeted his commitment shortly after a story in The Wall Street Journal said Soon-Shiong was exploring a sale of the publication he acquired three years ago for $500 million, along with the San Diego Union-Tribune and a handful of weeklies. The report came a few days after the paper’s former owner Tribune Publishing sold the rest of itself to majority shareholder hedge fund Alden Global Capital – which the WSJ floated as a possible buyer.
“WSJ article inaccurate. We are committed to the @LATimes,” said Soon-Shiong, a South African-born surgeon, scientist and biotech executive who is also part owner of the Los Angeles Lakers. He founded, and recently merged, two biotech firms, NantKwest and Immunitybio.
LA Times spokesperson Hillary Manning said, “Dr. Soon-Shiong...
He tweeted his commitment shortly after a story in The Wall Street Journal said Soon-Shiong was exploring a sale of the publication he acquired three years ago for $500 million, along with the San Diego Union-Tribune and a handful of weeklies. The report came a few days after the paper’s former owner Tribune Publishing sold the rest of itself to majority shareholder hedge fund Alden Global Capital – which the WSJ floated as a possible buyer.
“WSJ article inaccurate. We are committed to the @LATimes,” said Soon-Shiong, a South African-born surgeon, scientist and biotech executive who is also part owner of the Los Angeles Lakers. He founded, and recently merged, two biotech firms, NantKwest and Immunitybio.
LA Times spokesperson Hillary Manning said, “Dr. Soon-Shiong...
- 2/19/2021
- by Jill Goldsmith
- Deadline Film + TV
Longtime “Jeopardy” host Alex Trebek was treated for cancer with experimental treatments pioneered by Los Angeles Times owner Dr. Patrick Soon-Shiong, who earned billions developing cancer drugs. Soon-Shiong acquired the LA Times in 2018 for $500 million, along with several other community newspapers that were included in the deal. However, Soon-Shiong and his biotech companies remain intimately involved in cancer research and treatment. In July, not long before his 80th birthday, Trebek appeared on ABC’s “Good Morning America” to announce the release of his autobiographical book “The Answer Is…Reflections on My Life.” At that time, the longtime “Jeopardy” host also gave an update on his pancreatic cancer. He had made his diagnosis public in March 2019. Also Read: Alex Trebek Mourned by Hollywood: 'The Answer Is Thank You' On the show Trebek revealed he had sought out and was undergoing a new immunotherapy program pioneered by Soon-Shiong and his El Segundo-based biotech firm NantKWest Inc.
- 11/11/2020
- by Diane Haithman
- The Wrap
Norman Pearlstine is about to be out of a job and likely is breathing a sigh of relief. Having successfully run major media entities like Forbes, Time Inc. and the Wall Street Journal, Pearlstine has tried for the past two and a half years to steer the recovery of the Los Angeles Times. He’s had some positive things working for him: A supportive billionaire publisher who has supplied massive refinancing and a gorgeous new headquarters. Also an eager readership that has survived years of frustration because of mismanagement.
Nothing can be more ominous than good portents, however: Despite Pearlstine’s stalwart efforts, and a near doubling of digital readership, the Times staff has seemed bent on self-immolation with its editors and reporters delivering more apologies than news. Last month, the newspaper published a special editorial section declaring its regrets for gaps in coverage dating back to the 19th century.
Nothing can be more ominous than good portents, however: Despite Pearlstine’s stalwart efforts, and a near doubling of digital readership, the Times staff has seemed bent on self-immolation with its editors and reporters delivering more apologies than news. Last month, the newspaper published a special editorial section declaring its regrets for gaps in coverage dating back to the 19th century.
- 10/9/2020
- by Peter Bart
- Deadline Film + TV
Michael Bloomberg can take on Trump, but can he beat Bernie?
Over the past few weeks, many of the traditional donors who make up Hollywood’s center left are intrigued and maybe even enthralled by the former New York mayor, who has been wooing them with the prospect of beating Donald Trump with his own personal fortune. Bloomberg has poured hundreds of millions into TV advertising — enough to help drive up the stock price of some TV station groups — and has shown that he’s willing to put money behind his message.
Besides the new scrutiny that Bloomberg now faces, the bigger question is whether he can stop Bernie Sanders.
Leading in a number of polls and boosted by a torrent of small-dollar donations, Sanders also is a pop culture favorite, drawing endorsements from the likes of Mark Ruffalo, Cardi B and Ariana Grande. But there are plenty of showbiz...
Over the past few weeks, many of the traditional donors who make up Hollywood’s center left are intrigued and maybe even enthralled by the former New York mayor, who has been wooing them with the prospect of beating Donald Trump with his own personal fortune. Bloomberg has poured hundreds of millions into TV advertising — enough to help drive up the stock price of some TV station groups — and has shown that he’s willing to put money behind his message.
Besides the new scrutiny that Bloomberg now faces, the bigger question is whether he can stop Bernie Sanders.
Leading in a number of polls and boosted by a torrent of small-dollar donations, Sanders also is a pop culture favorite, drawing endorsements from the likes of Mark Ruffalo, Cardi B and Ariana Grande. But there are plenty of showbiz...
- 2/18/2020
- by Ted Johnson
- Deadline Film + TV
The book appears to be all but closed on the Michael Ferro era at Tribune Publishing.
The executive and his Merrick Ventures have sold a 25.2% stake in Tribune to Alden Global Capital, making the New York-based hedge fund Tribune’s largest shareholder.
Along with the nearly $118 million deal for 9.1 million shares, which were priced at $13 apiece, the parties are in talks to add two board seats to the Tribune board. That would give Alden two seats out of eight, commensurate with its 25% stake in the company.
Ferro exited in the spring of 2018 as chairman of the board at Tronc — which was the company’s name for a period of years, in a widely derided effort to convey “Tribune online content” though an ungainly shorthand. Just hours after his “retirement” announcement, a Fortune magazine article detailed allegations of unwanted sexual advances by Ferro. Before his departure, Ferro and Tribune agreed to...
The executive and his Merrick Ventures have sold a 25.2% stake in Tribune to Alden Global Capital, making the New York-based hedge fund Tribune’s largest shareholder.
Along with the nearly $118 million deal for 9.1 million shares, which were priced at $13 apiece, the parties are in talks to add two board seats to the Tribune board. That would give Alden two seats out of eight, commensurate with its 25% stake in the company.
Ferro exited in the spring of 2018 as chairman of the board at Tronc — which was the company’s name for a period of years, in a widely derided effort to convey “Tribune online content” though an ungainly shorthand. Just hours after his “retirement” announcement, a Fortune magazine article detailed allegations of unwanted sexual advances by Ferro. Before his departure, Ferro and Tribune agreed to...
- 11/19/2019
- by Dade Hayes
- Deadline Film + TV
The Los Angeles Times journalists attempting to negotiate a union contract with the media company today reached out to its readers for support.
Contract talks have moved at a snail’s pace at the Times since the journalists overwhelmingly elected to form the first union in the news organization’s history. Results,tallied by the National Labor Relations Board had workers voting 248 to 44 to be represented by the Washington, D.C.-based NewsGuild-Communications Workers of America.
The newspaper was owned by Tronc Inc. at the time of the union vote. It was sold to biotech billionaire Dr. Patrick Soon-Shiong a few months after the vote.
The La Times Guild campaign asks readers to explain why they care about the news organization and that they support a fair contract for its journalists. It suggested several ways to do that, including tweeting support to @latguild with the hashtag @WeLoveTheLAT.
The campaign also...
Contract talks have moved at a snail’s pace at the Times since the journalists overwhelmingly elected to form the first union in the news organization’s history. Results,tallied by the National Labor Relations Board had workers voting 248 to 44 to be represented by the Washington, D.C.-based NewsGuild-Communications Workers of America.
The newspaper was owned by Tronc Inc. at the time of the union vote. It was sold to biotech billionaire Dr. Patrick Soon-Shiong a few months after the vote.
The La Times Guild campaign asks readers to explain why they care about the news organization and that they support a fair contract for its journalists. It suggested several ways to do that, including tweeting support to @latguild with the hashtag @WeLoveTheLAT.
The campaign also...
- 8/8/2019
- by Bruce Haring
- Deadline Film + TV
Tribune Publishing chairman and CEO Justin Dearborn has stepped down from both his positions, the company announced Thursday.
The departing executive will be replaced by two successors, Timothy P. Knight, who will take the helm as CEO, and David Dreier, as chairman of the board.
“I am proud of what we have accomplished over the last several years. Tribune Publishing has a tremendously talented team and I am confident that the Company is in great hands to build on that progress under Tim’s leadership going forward,” Dearborn said in a statement.
Also Read: Former Tribune Publishing Chairman Accused of Calling Eli Broad Part of a 'Jewish Cabal' (Report)
The executive had been close to many of the scandals surrounding the company in recent years. He assumed the top job in March 2018 after his predecessor, Michael Ferro, was forced out in the wake of a #MeToo scandal. Dearborn was known...
The departing executive will be replaced by two successors, Timothy P. Knight, who will take the helm as CEO, and David Dreier, as chairman of the board.
“I am proud of what we have accomplished over the last several years. Tribune Publishing has a tremendously talented team and I am confident that the Company is in great hands to build on that progress under Tim’s leadership going forward,” Dearborn said in a statement.
Also Read: Former Tribune Publishing Chairman Accused of Calling Eli Broad Part of a 'Jewish Cabal' (Report)
The executive had been close to many of the scandals surrounding the company in recent years. He assumed the top job in March 2018 after his predecessor, Michael Ferro, was forced out in the wake of a #MeToo scandal. Dearborn was known...
- 1/18/2019
- by Jon Levine
- The Wrap
2018 was a tumultuous year. For many, even most, it was a grim period of layoffs, consolidations and paywalls. But for others, it was a time of triumphs.
Sean Hannity: The Fox News host would have appeared on TheWrap’s media winners list for hosting the #1 rated cable news show, but his unique personal relationship with President Trump who he is known to call regularly made him the only choice for the top spot.
Bryan Goldberg: In an otherwise ugly year for media, marred by layoffs and consolidations, the Bustle kingpin proved a standout success. His acquisitions of Gawker and Mic.com for bargain basement discounts suggests plans for a burgeoning digital empire.
Los Angeles Times: The iconic La broadsheet was well on its way to the losers column under the disastrous leadership of Tronc. The paper, however, was rescued by billionaire Patrick Soon-Shiong for a half-billion dollars.
Sean Hannity: The Fox News host would have appeared on TheWrap’s media winners list for hosting the #1 rated cable news show, but his unique personal relationship with President Trump who he is known to call regularly made him the only choice for the top spot.
Bryan Goldberg: In an otherwise ugly year for media, marred by layoffs and consolidations, the Bustle kingpin proved a standout success. His acquisitions of Gawker and Mic.com for bargain basement discounts suggests plans for a burgeoning digital empire.
Los Angeles Times: The iconic La broadsheet was well on its way to the losers column under the disastrous leadership of Tronc. The paper, however, was rescued by billionaire Patrick Soon-Shiong for a half-billion dollars.
- 12/28/2018
- by Jon Levine
- The Wrap
The Los Angeles Times was restive on Thursday after a bombshell NPR story on Wednesday reporting that former Times editor and publisher Davan Maharaj had secretly recorded Michael Ferro — then chairman of tronc, the paper’s parent company — calling L.A. billionaire Eli Broad a member of a “Jewish cabal” that controlled Los Angeles.
In addition, Maharaj’s attorney confirmed that he had reached a substantial financial settlement after he was fired earlier this year in a deal that NPR said was worth $2.5 million.
In response to the reports about its own operations, many employees on Thursday were quick to disparage Ferro, Maharaj and Tribune Publishing.
“Obviously everyone was disgusted with the story — every part of it,” Matt Pearce, a national correspondent for the Times and officer of the L.A. Times Guild, told TheWrap on Thursday. “The story describes anti-Semitism by our old chairman, millions wasted on yet another...
In addition, Maharaj’s attorney confirmed that he had reached a substantial financial settlement after he was fired earlier this year in a deal that NPR said was worth $2.5 million.
In response to the reports about its own operations, many employees on Thursday were quick to disparage Ferro, Maharaj and Tribune Publishing.
“Obviously everyone was disgusted with the story — every part of it,” Matt Pearce, a national correspondent for the Times and officer of the L.A. Times Guild, told TheWrap on Thursday. “The story describes anti-Semitism by our old chairman, millions wasted on yet another...
- 12/13/2018
- by Jon Levine
- The Wrap
Former Tribune Publishing chairman Michael Ferro described California billionaire and civic leader Eli Broad as being part of a “Jewish cabal” during a company meeting in 2016, according to an NPR report published Wednesday.
Ferro, who exited the company in March after a tumultuous tenure, made the remarks during a 2016 strategy dinner at an upscale restaurant near the company’s Chicago headquarters, NPR reporter David Folkenflik reported, citing two unnamed individuals who attended the event.
Earlier this year, Tribune paid a $2.5 million settlement to a fired Tribune executive in order to avoid a lawsuit that would have led to public disclosure of Ferro’s alleged remarks about Broad, NPR reported, citing three people with knowledge of the deal. The Los Angeles Times later reported that it was former Los Angeles Times publisher and editor Davan Maharaj who received the payout.
Also Read: National Enquirer Parent Company Admits Paying Off Karen McDougal...
Ferro, who exited the company in March after a tumultuous tenure, made the remarks during a 2016 strategy dinner at an upscale restaurant near the company’s Chicago headquarters, NPR reporter David Folkenflik reported, citing two unnamed individuals who attended the event.
Earlier this year, Tribune paid a $2.5 million settlement to a fired Tribune executive in order to avoid a lawsuit that would have led to public disclosure of Ferro’s alleged remarks about Broad, NPR reported, citing three people with knowledge of the deal. The Los Angeles Times later reported that it was former Los Angeles Times publisher and editor Davan Maharaj who received the payout.
Also Read: National Enquirer Parent Company Admits Paying Off Karen McDougal...
- 12/12/2018
- by Jon Levine
- The Wrap
Richard Branson
British entrepreneur Richard Branson announced he would step down as chairman of Virgin Hyperloop, CNBC reports.
The Financial Times reported the Saudi government announced Tuesday it was canceling a planned feasibility study for a high-speed transportation system with the company in response to Branson’s statement. But CNBC reports that the negotiations are still underway.
The company did not immediately respond to a request for comment.
The Harbour Group
Leading D.C. lobbying firm representing the Saudi government’s interests, the Harbour Group, announced on Oct. 11 it was terminating its $80,000-a-month contract with the kingdom.
Endeavor
Wme parent company Endeavor, one of Hollywood’s top talent agencies, said on Oct. 15 it was preparing to withdraw from its $400 million financing deal with the Saudi Arabian government.
An individual with knowledge of the situation told TheWrap Monday the company is in the process of pulling out of its deal, though...
British entrepreneur Richard Branson announced he would step down as chairman of Virgin Hyperloop, CNBC reports.
The Financial Times reported the Saudi government announced Tuesday it was canceling a planned feasibility study for a high-speed transportation system with the company in response to Branson’s statement. But CNBC reports that the negotiations are still underway.
The company did not immediately respond to a request for comment.
The Harbour Group
Leading D.C. lobbying firm representing the Saudi government’s interests, the Harbour Group, announced on Oct. 11 it was terminating its $80,000-a-month contract with the kingdom.
Endeavor
Wme parent company Endeavor, one of Hollywood’s top talent agencies, said on Oct. 15 it was preparing to withdraw from its $400 million financing deal with the Saudi Arabian government.
An individual with knowledge of the situation told TheWrap Monday the company is in the process of pulling out of its deal, though...
- 10/24/2018
- by itay hod
- The Wrap
The website for Saudi Arabia’s Future Investment Initiative was shut down today after hackers altered an image of Crown Prince Mohammed bin Salman to make it appear he was about to behead a kneeling Jamal Khashoggi.
See the hacked image below.
Nicknamed “Davos in the desert,” the summit, set to begin Tuesday in Riyadh, has been racking up an increasing number of last-minute no-shows by former participants from the media and financial worlds. Late last week, U.S. Treasury Secretary Steve Mnuchin tweeted that he would no longer take part in the event.
Saudi Arabia’s much-shifted story of what exactly happened inside the Saudi consulate in Turkey that left Washington Post journalist Khashoggi dead and dismembered was challenged yet again today by CNN’s report that a body double wearing the dead man’s clothes was captured on surveillance footage exiting the consulate.
Over the course of the last week,...
See the hacked image below.
Nicknamed “Davos in the desert,” the summit, set to begin Tuesday in Riyadh, has been racking up an increasing number of last-minute no-shows by former participants from the media and financial worlds. Late last week, U.S. Treasury Secretary Steve Mnuchin tweeted that he would no longer take part in the event.
Saudi Arabia’s much-shifted story of what exactly happened inside the Saudi consulate in Turkey that left Washington Post journalist Khashoggi dead and dismembered was challenged yet again today by CNN’s report that a body double wearing the dead man’s clothes was captured on surveillance footage exiting the consulate.
Over the course of the last week,...
- 10/22/2018
- by Greg Evans
- Deadline Film + TV
Fox Business Network has become the latest media partner to pull out of the Saudi Arabia-backed Future Investment Initiative, the international conference featuring world business leaders that is scheduled to run October 23-25 in Riyadh. The confab hosted by Saudi Crown Prince Mohammad bin Salman has seen a slew of its committed participants withdraw amid the ongoing controversy over the disappearance and apparent murder of Washington Post journalist Jamal Khashoggi.
The move from Fbn comes the same day U.S. Treasury Secretary Steven Mnuchin tweeted that he was pulling out of the event, and as U.S. Secretary of State Mike Pompeo returned from a diplomatic trip to Saudi Arabia to get answers on Khashoggi, who disappeared after entering the Saudi embassy in Turkey on October 2.
“Fox Business Network has canceled its sponsorship and participation in the Future Investment Initiative conference in Saudi Arabia,” the network said in a statement. “We...
The move from Fbn comes the same day U.S. Treasury Secretary Steven Mnuchin tweeted that he was pulling out of the event, and as U.S. Secretary of State Mike Pompeo returned from a diplomatic trip to Saudi Arabia to get answers on Khashoggi, who disappeared after entering the Saudi embassy in Turkey on October 2.
“Fox Business Network has canceled its sponsorship and participation in the Future Investment Initiative conference in Saudi Arabia,” the network said in a statement. “We...
- 10/18/2018
- by Patrick Hipes
- Deadline Film + TV
Treasury Secretary Steve Mnuchin has tweeted he’s pulling out of the Future Investment Initiative summit in Saudi Arabia. This comes in the wake of the disappearance of Washington Post columnist Jamal Khashoggi as evidence piles up that the journalist was tortured at the direction of Saudi prince Mohammad bin Salman inside the Saudi consulate in Turkey, that he was murdered during the interrogation, and his body cut up and removed in diplomatic bags.
Mnuchin’s announcement came moments after Secretary of State Mike Pompeo stepped out of the White House and told reporters the Saudis had “assured me they will conduct a complete, thorough investigation of all of the facts surrounding Mr. Khashoggi and do so in a timely fashion and that the report itself will be transparent.”
He also said the Saudis asked for a few more days to complete their “investigation, so we too have complete understanding of the facts surrounding that,...
Mnuchin’s announcement came moments after Secretary of State Mike Pompeo stepped out of the White House and told reporters the Saudis had “assured me they will conduct a complete, thorough investigation of all of the facts surrounding Mr. Khashoggi and do so in a timely fashion and that the report itself will be transparent.”
He also said the Saudis asked for a few more days to complete their “investigation, so we too have complete understanding of the facts surrounding that,...
- 10/18/2018
- by Lisa de Moraes
- Deadline Film + TV
Update, 8:30 Pm Pacific time: Turkish authorities have claimed they have recordings that prove journalist Jamal Khashoggi was murdered when he visited the Saudi consulate in Istanbul. The Turks have shared that information with Us officials, according to the Washington Post.
The recordings were from inside the consulate, according to reports, and led the Turkish government o conclude Khashoggi was interrogated, beaten, tortured and finally killed.
Beyond the international ramifications for Saudi Arabia’s relationships with other countries, the revelation of the tapes will likely end plans to stage a media conference sponsored by the Saudi Arabia government later this month. Many sponsors and speakers have already withdrawn because of concerns over Khashoggi’s disappearance. Refresh for updates: Stx CEO Bob Simonds is the latest to withdraw from a business conference in Saudi Arabia, following the unexplained disappearance of journalist Jamal Khashoggi, who has not been seen since going to...
The recordings were from inside the consulate, according to reports, and led the Turkish government o conclude Khashoggi was interrogated, beaten, tortured and finally killed.
Beyond the international ramifications for Saudi Arabia’s relationships with other countries, the revelation of the tapes will likely end plans to stage a media conference sponsored by the Saudi Arabia government later this month. Many sponsors and speakers have already withdrawn because of concerns over Khashoggi’s disappearance. Refresh for updates: Stx CEO Bob Simonds is the latest to withdraw from a business conference in Saudi Arabia, following the unexplained disappearance of journalist Jamal Khashoggi, who has not been seen since going to...
- 10/13/2018
- by Bruce Haring
- Deadline Film + TV
Film producer and Stx Entertainment CEO Robert Simonds has decided not to attend the Saudi Arabian Future Investment Initiative conference in Riyadh, following the disappearance and presumed death of dissident Saudi journalist Jamal Khashoggi.
A spokesperson for Stx told TheWrap Simonds would no longer be attending.
Simonds is the most recent media executive to back out of the conference, following Thursday’s mass exodus that included Viacom CEO Bob Bakish and L.A. Times owner Patrick Soon-Shiong and a number of media outlets.
Also Read: Steven Mnuchin Still Plans to Attend Saudi Conference Despite Journalist's Disappearance (Video)
CNN, which was a expected to be a sponsor for the conference, backed out early Friday, joining both The New York Times and Economist as media partners who have dropped out of the event, often dubbed “the Davos of the Desert.”
Khashoggi, a prominent Saudi journalist and critic of crown prince Mohammed bin Salman,...
A spokesperson for Stx told TheWrap Simonds would no longer be attending.
Simonds is the most recent media executive to back out of the conference, following Thursday’s mass exodus that included Viacom CEO Bob Bakish and L.A. Times owner Patrick Soon-Shiong and a number of media outlets.
Also Read: Steven Mnuchin Still Plans to Attend Saudi Conference Despite Journalist's Disappearance (Video)
CNN, which was a expected to be a sponsor for the conference, backed out early Friday, joining both The New York Times and Economist as media partners who have dropped out of the event, often dubbed “the Davos of the Desert.”
Khashoggi, a prominent Saudi journalist and critic of crown prince Mohammed bin Salman,...
- 10/12/2018
- by Trey Williams
- The Wrap
CNN, CNBC, Bloomberg and the Financial Times said they would no longer take part in a much-anticipated Saudi investment conference, the latest media organizations to withdraw from the event following the disappearance of dissident columnist Jamal Khashoggi.
The At&T-owned cable-news outlet and the financial newspaper, owned by Japan’s Nikkei, had been named as media partners of the Future Investment Initiative, along with Bloomberg, Fox Business Network, and Al Aribiya News Channel. The event is scheduled to take place in Riyadh between Oct. 23 and Oct. 25. “CNN has withdrawn its participation in the Saudi Future Investment Initiative Conference,” the network said in a statement.
Others quickly followed. NBCUniversal’s CNBC has pulled out of its media partnership with the conference, a spokesman said. “The Financial Times will not be partnering with the Fii conference in Riyadh while the disappearance of journalist Jamal Khashoggi remains unexplained,” said Lionel Barber, the Ft’s editor,...
The At&T-owned cable-news outlet and the financial newspaper, owned by Japan’s Nikkei, had been named as media partners of the Future Investment Initiative, along with Bloomberg, Fox Business Network, and Al Aribiya News Channel. The event is scheduled to take place in Riyadh between Oct. 23 and Oct. 25. “CNN has withdrawn its participation in the Saudi Future Investment Initiative Conference,” the network said in a statement.
Others quickly followed. NBCUniversal’s CNBC has pulled out of its media partnership with the conference, a spokesman said. “The Financial Times will not be partnering with the Fii conference in Riyadh while the disappearance of journalist Jamal Khashoggi remains unexplained,” said Lionel Barber, the Ft’s editor,...
- 10/12/2018
- by Brian Steinberg
- Variety Film + TV
Endeavor, the parent company of Wme, is “assessing” its relationship with Saudi Arabia following the disappearance of dissident journalist Jamal Khashoggi, months after the monarchy invested an estimated $400 million in the agency.
A person with knowledge of the situation told TheWrap that the company is “aware of the situation and we are assessing.” The insider did not elaborate on what exactly that assessment entails.
Khashoggi, a prominent Saudi journalist and critic of crown prince Mohammed bin Salman, went missing Oct. 2 after entering the Saudi consulate in Istanbul. Top Turkish security officials have since determined that Khashoggi was assassinated on orders from the highest levels of the royal court. The Saudi government maintains that he left the consulate soon after he arrived and is not in their custody.
News of his disappearance and possible murder prompted a growing number of media companies and executives to drop out of the the Future Investment Initiative,...
A person with knowledge of the situation told TheWrap that the company is “aware of the situation and we are assessing.” The insider did not elaborate on what exactly that assessment entails.
Khashoggi, a prominent Saudi journalist and critic of crown prince Mohammed bin Salman, went missing Oct. 2 after entering the Saudi consulate in Istanbul. Top Turkish security officials have since determined that Khashoggi was assassinated on orders from the highest levels of the royal court. The Saudi government maintains that he left the consulate soon after he arrived and is not in their custody.
News of his disappearance and possible murder prompted a growing number of media companies and executives to drop out of the the Future Investment Initiative,...
- 10/12/2018
- by Itay Hod
- The Wrap
A little more than two years after Tribune Publishing Co. now infamously changed its name to the Wall Street collective head-scratcher tronc, Inc., the company is officially changing its name back. The Chicago-based publishing company will resume trading on the Nasdaq under the symbol Tpco, replacing Trnc, on October 10.
It’s been a wild ride for the company soon to be formerly known as tronc (that’s with a lower-case “t”) since June 2, 2016, when new then-new chairman Michael Ferro made the announcement that Tribune would be known as tronc — short for “Tribune online content,” apparently to differentiate it from a company that owned newspapers.
Twitter was unkind, as were branding experts. “It hit all of the wrong things on what would create an impactful new name,” Matthew Quint, director of the Columbia Business School’s Center on Global Brand Leadership, told Deadline at the time. “It’s created something that is laughable.
It’s been a wild ride for the company soon to be formerly known as tronc (that’s with a lower-case “t”) since June 2, 2016, when new then-new chairman Michael Ferro made the announcement that Tribune would be known as tronc — short for “Tribune online content,” apparently to differentiate it from a company that owned newspapers.
Twitter was unkind, as were branding experts. “It hit all of the wrong things on what would create an impactful new name,” Matthew Quint, director of the Columbia Business School’s Center on Global Brand Leadership, told Deadline at the time. “It’s created something that is laughable.
- 10/4/2018
- by Patrick Hipes
- Deadline Film + TV
When Bob Bakish took the reins at Viacom less than two years ago, the media giant had a big problem — the “MTV Generation” had long passed, and it was struggling to get its shows in front of young viewers. Television wasn’t the only game in town anymore.
“This is a generation that grew up swiping before they wiped,” as Jacqueline Parkes, Cmo and Evp of Digital Studios at MTV, VH1 and Logo, put it at The Grill at the Sls Hotel in Beverly Hills on Monday. “They don’t make the distinction [between] a television or their iPhone or their desktop — when they see the content they want, they’re going to embrace that content.”
Viacom has since looked to target young viewers where they are in 2018. It’s doubled down on YouTube — with “Wild ‘n Out,” its sketch comedy show, growing its channel from 1.1 million to 2.5 million followers in three months earlier this year.
“This is a generation that grew up swiping before they wiped,” as Jacqueline Parkes, Cmo and Evp of Digital Studios at MTV, VH1 and Logo, put it at The Grill at the Sls Hotel in Beverly Hills on Monday. “They don’t make the distinction [between] a television or their iPhone or their desktop — when they see the content they want, they’re going to embrace that content.”
Viacom has since looked to target young viewers where they are in 2018. It’s doubled down on YouTube — with “Wild ‘n Out,” its sketch comedy show, growing its channel from 1.1 million to 2.5 million followers in three months earlier this year.
- 10/2/2018
- by Sean Burch
- The Wrap
The entertainment industry’s multibillion-dollar scramble for consolidation will end with some companies bigger and more relevant, and others dead, said panelists discussing the future of entertainment Monday.
It’s going to take massive investments for companies to adapt to the digital world, said Sky Moore, a partner at the law firm Greenberg Glusker. He was among the panelists at TheWrap’s annual media and technology conference TheGrill at the Sls Hotel in Beverly Hills.
The theatrical business is the most at risk, Moore said.
Also Read: TheGrill Starts Today: See Will Packer, La Times Owner Patrick Soon-Shiong and Showtime and AMC Bosses
“Three years from now, the theater business is two-tiered, it’s top is $100 million plus budget films. It’s a hightened experience — it’s almost virtual reality. Below that, the theater business is dead and a lot of companies are out of business, a lot of theater chains are out of business,...
It’s going to take massive investments for companies to adapt to the digital world, said Sky Moore, a partner at the law firm Greenberg Glusker. He was among the panelists at TheWrap’s annual media and technology conference TheGrill at the Sls Hotel in Beverly Hills.
The theatrical business is the most at risk, Moore said.
Also Read: TheGrill Starts Today: See Will Packer, La Times Owner Patrick Soon-Shiong and Showtime and AMC Bosses
“Three years from now, the theater business is two-tiered, it’s top is $100 million plus budget films. It’s a hightened experience — it’s almost virtual reality. Below that, the theater business is dead and a lot of companies are out of business, a lot of theater chains are out of business,...
- 10/2/2018
- by Trey Williams
- The Wrap
As Salesforce.com founder Marc Benioff and his wife, Lynne, prepare to close their $190 million acquisition of Time Magazine, they joins an ever-expanding club of tech and other non-media billionaires who have decided to dabble in owning legacy media brands.
From Jeff Bezos at the Washington Post to Laurene Powell Jobs at The Atlantic to Patrick Soon-Shiong at the Los Angeles Times to Facebook veteran Chris Hughes at The New Republic, tech moguls have been trying their luck at one of America’s toughest businesses — with mixed success so far.
While some industry experts seem optimism for the new wave of investment in media outlets, others warned that billionaires who made their fortune outside of media may never be able to separate their personal interests from the coverage — or find a sustainable business model in a challenging industry despite their previous success.
“It depends on the billionaire,” Washington Post media...
From Jeff Bezos at the Washington Post to Laurene Powell Jobs at The Atlantic to Patrick Soon-Shiong at the Los Angeles Times to Facebook veteran Chris Hughes at The New Republic, tech moguls have been trying their luck at one of America’s toughest businesses — with mixed success so far.
While some industry experts seem optimism for the new wave of investment in media outlets, others warned that billionaires who made their fortune outside of media may never be able to separate their personal interests from the coverage — or find a sustainable business model in a challenging industry despite their previous success.
“It depends on the billionaire,” Washington Post media...
- 9/18/2018
- by Jon Levine
- The Wrap
Liberal news outlet Mother Jones received a $1 million donation from Craigslist founder Craig Newmark, it announced on Monday.
“We’re honored by this gift from Craig,” said Mother Jones CEO Monika Bauerlein in a statement. “This is an investment in the toughest–and most rewarding–kind of journalism, the deep investigative work that is now under attack from all sides. With our growing community of supporters, we can build a newsroom that continues this work for a long time to come.”
Newmark — whose eponymous website has often been criticized by journalists for undermining the advertiser-based business model of local news — has often used his wealth to donate to media organizations and nonprofits through his foundation, Craig Newmark Philanthropies.
Also Read: Charlie Sheen 'Can Relate' to Roseanne Barr's 'Tone of Absolute Despair'
In June, Newmark gave a $20 million donation to the City University of New York school of journalism — which now bears his name.
“We’re honored by this gift from Craig,” said Mother Jones CEO Monika Bauerlein in a statement. “This is an investment in the toughest–and most rewarding–kind of journalism, the deep investigative work that is now under attack from all sides. With our growing community of supporters, we can build a newsroom that continues this work for a long time to come.”
Newmark — whose eponymous website has often been criticized by journalists for undermining the advertiser-based business model of local news — has often used his wealth to donate to media organizations and nonprofits through his foundation, Craig Newmark Philanthropies.
Also Read: Charlie Sheen 'Can Relate' to Roseanne Barr's 'Tone of Absolute Despair'
In June, Newmark gave a $20 million donation to the City University of New York school of journalism — which now bears his name.
- 8/28/2018
- by Jon Levine
- The Wrap
The McClatchy Company will cut roughly 3.5 percent of its staff, amounting to nearly 140 employees in a company-wide shakeup, it revealed Tuesday.
McClatchy publishes dozens of newspapers across the country, including The Miami Herald, The Kansas City Star, The Idaho Statesman, The Fresno Bee and The Charlotte Observer. A spokesperson for the company declined to issue a statement, noting only that it was “a tough day.”
McClatchy president and CEO Craig Forman revealed the news to employees in an internal memo, a copy of which was obtained by TheWrap.
Also Read: Chris Cuomo Defends Antifa After Violence: 'Not to Be Judged the Same as the Bigots'
“While these actions are necessary to protect and further our future, they are painful and difficult decisions. Talented and passionate people who have dedicated their energy to our mission, colleagues we call friends and rely on everyday, will leave the company.” he wrote. “We thank...
McClatchy publishes dozens of newspapers across the country, including The Miami Herald, The Kansas City Star, The Idaho Statesman, The Fresno Bee and The Charlotte Observer. A spokesperson for the company declined to issue a statement, noting only that it was “a tough day.”
McClatchy president and CEO Craig Forman revealed the news to employees in an internal memo, a copy of which was obtained by TheWrap.
Also Read: Chris Cuomo Defends Antifa After Violence: 'Not to Be Judged the Same as the Bigots'
“While these actions are necessary to protect and further our future, they are painful and difficult decisions. Talented and passionate people who have dedicated their energy to our mission, colleagues we call friends and rely on everyday, will leave the company.” he wrote. “We thank...
- 8/22/2018
- by Jon Levine
- The Wrap
The New York Times announced Monday that New York Magazine and Vulture veteran Kyle Buchanan would join the paper as a pop culture reporter and take over the iconic “The Carpetbagger” awards season blog once held by David Carr.
“Excited to announce that I’ve been hired by the New York Times! I’m the new Carpetbagger,” said Buchanan in a tweet announcing the news. “My last day at @vulture is tomorrow. I will miss those terrific writers more than I can say.”
My last day at @vulture is tomorrow. I will miss those terrific writers more than I can say.
— Kyle Buchanan (@kylebuchanan) August 20, 2018
Also Read: How Colbert, Oliver, Kimmel and Company Became Leaders of Late-Night Resistance Against Trump
“The Times’s awards season coverage has long been a must read both in the industry and for casual movie fans. And with his work, Kyle has excelled over the...
“Excited to announce that I’ve been hired by the New York Times! I’m the new Carpetbagger,” said Buchanan in a tweet announcing the news. “My last day at @vulture is tomorrow. I will miss those terrific writers more than I can say.”
My last day at @vulture is tomorrow. I will miss those terrific writers more than I can say.
— Kyle Buchanan (@kylebuchanan) August 20, 2018
Also Read: How Colbert, Oliver, Kimmel and Company Became Leaders of Late-Night Resistance Against Trump
“The Times’s awards season coverage has long been a must read both in the industry and for casual movie fans. And with his work, Kyle has excelled over the...
- 8/20/2018
- by Jon Levine
- The Wrap
Longtime New York Times editor Sewell Chan will be joining the Los Angeles Times as a deputy managing editor, the paper announced on Monday. He will report the the paper’s top editor Norman Pearlstine, who took over the reins of the California broadsheet in June.
“Sewell Chan has distinguished himself as a skilled and thoughtful editor and a collaborative and caring colleague,” said Pearlstine in a statement. “He will play an important leadership role while making us smarter and faster.”
Chan has spent the last 14 years at the New York Times, most recently as international news editor. He previously served as a reporter, deputy editor of the op-ed page and as a London-based editor managing breaking news coverage from Europe, the Middle East and Africa.
Also Read: La Times to Transfer Ownership to Biotech Billionaire on Monday
“No publication is better equipped to tell the story of America’s...
“Sewell Chan has distinguished himself as a skilled and thoughtful editor and a collaborative and caring colleague,” said Pearlstine in a statement. “He will play an important leadership role while making us smarter and faster.”
Chan has spent the last 14 years at the New York Times, most recently as international news editor. He previously served as a reporter, deputy editor of the op-ed page and as a London-based editor managing breaking news coverage from Europe, the Middle East and Africa.
Also Read: La Times to Transfer Ownership to Biotech Billionaire on Monday
“No publication is better equipped to tell the story of America’s...
- 8/20/2018
- by Jon Levine
- The Wrap
Tronc, which acquired the New York Daily News last year for $1 plus the assumption of debt, has slashed half of its editorial staff as part of an aggressive new emphasis on digital news delivery.
The company’s stock price has dipped a fraction so far today, to about $16.10, which is within the narrow range where it has traded throughout 2018. Investors have speculated that more deals could lie ahead for Tronc, which has had a bumpy ride since being spun off by Tribune Media and fatefully deciding to name itself for a contraction of “Tribune online content.” The rebranding drew widespread mockery, and executives reportedly are mulling a retreat from the name, among other strategic moves.
Along the way, more substantive blows have landed. Former chairman Michael Ferro left amid claims of sexual harassment and a mass shooting tore through the newsroom of the Capital-Gazette in Annapolis, Md.
The larger narrative...
The company’s stock price has dipped a fraction so far today, to about $16.10, which is within the narrow range where it has traded throughout 2018. Investors have speculated that more deals could lie ahead for Tronc, which has had a bumpy ride since being spun off by Tribune Media and fatefully deciding to name itself for a contraction of “Tribune online content.” The rebranding drew widespread mockery, and executives reportedly are mulling a retreat from the name, among other strategic moves.
Along the way, more substantive blows have landed. Former chairman Michael Ferro left amid claims of sexual harassment and a mass shooting tore through the newsroom of the Capital-Gazette in Annapolis, Md.
The larger narrative...
- 7/23/2018
- by Dade Hayes
- Deadline Film + TV
The New York Daily News, the city’s scrappiest tabloid of the Trump Era, announced a huge round of layoffs today that will eliminate fully half of the Tronc-owned paper’s editorial staff.
Among those handed their walking papers was Editor-in-Chief Jim Rich, who tweeted today, “If you hate democracy and think local governments should operate unchecked and in the dark, then today is a good day for you.”.
Rich led the near-hundred-year-old paper during an era that saw its self-reinvigoration with irreverent, attention-demanding Page One eye-grabbers that in an earlier more newsstand-friendly era would certainly have been the talk of the city. “I’m With Stupid,” screamed the front page when Sarah Palin endorsed Donald Trump.
Today Rich’s Twitter bio read: “Just a guy sitting at home watching journalism being choked into extinction.”
In an email to staff from Tronc, delivered this morning,...
Among those handed their walking papers was Editor-in-Chief Jim Rich, who tweeted today, “If you hate democracy and think local governments should operate unchecked and in the dark, then today is a good day for you.”.
Rich led the near-hundred-year-old paper during an era that saw its self-reinvigoration with irreverent, attention-demanding Page One eye-grabbers that in an earlier more newsstand-friendly era would certainly have been the talk of the city. “I’m With Stupid,” screamed the front page when Sarah Palin endorsed Donald Trump.
Today Rich’s Twitter bio read: “Just a guy sitting at home watching journalism being choked into extinction.”
In an email to staff from Tronc, delivered this morning,...
- 7/23/2018
- by Greg Evans
- Deadline Film + TV
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