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Journal Media Group latest news:
Vox Media lays off 50 employees as it scales back certain initiatives
Vox Media Chief Executive Jim Bankoff told staff in an email on Wednesday that the company would lay off around 50 employees as it winds down certain initiatives. The news comes just over a month after journalists at the company voted to unionize with the Writers Guild of America East. The Vox Media Union said on Twitter that it was working with the WGA to negotiate over the impact of layoffs on current Vox employees. Along with the layoffs, Bankoff said in his email that the company is reorganizing about a dozen other positions. The Vox brands most impacted by the changes will be Racked, Curbed, SB Nation and the video team. Bankoff said in the email, which was posted on Twitter, that the rationale behind scaling back is to ensure the company can solidify long-term financial stability, invest more resources into workplace productivity by growing real estate, IT, P&C, etc., and to be able to act swiftly when new opportunities arise.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
PRESS DIGEST- Wall Street Journal - Feb 16
The following are the top stories in the Wall Street Journal. - A federal inspector general has agreed to investigate actions by federal regulators that might benefit Sinclair Broadcast Group Inc (SBGI) in its efforts to buy Tribune Media Co (TRCO), according to a top congressman who requested the probe.
Media reports say Nevada regulators open misconduct inquiry into casino mogul Steve Wynn
(Reuters) - Nevada state regulators have opened an investigation into sexual misconduct accusations leveled against Las Vegas casino magnate Steve Wynn by former and current employees in a Wall Street Journal article last week, media reports said on Tuesday.
Jemele Hill is leaving ESPN's SportsCenter
Journalist Jemele Hill is leaving ESPN's SportsCenter, The Hollywood Reporter wrote on Friday, citing unnamed sources. Hill, the co-host of SportsCenter's 6 p.m. show titled "The Six," has been at the center of an onslaught of recent criticism of the Walt Disney Co.-owned ESPN and its perceived liberal bias. In October ESPN suspended Hill for a second violation of the company's social media guidelines, which they later updated. She suggested on Twitter that fans boycott advertisers of the National Football League and before that she called President Donald Trump a white supremacist. Hill's last day on SportsCenter will be Feb. 2, just two days before the Super Bowl, and co-host Michael Smith will host the show on his own after that. Hill will still work at ESPN as a writer for The Undefeated, sources told The Hollywood Reporter. She still has three years left on her four-year contract with ESPN. Shares of Disney have gained roughly 3% in the last 12 months, while the S&P 500 index is up more than 24% and the Dow Jones Industrial Average is up more than 31%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Shari Redstone pushing for new directors on Viacom, CBS boards: WSJ
Shari Redstone, the president of National Amusements, which owns a controlling interest in Viacom Inc. and CBS Corp. , is pushing for new directors on both of the companies's boards, according to a report in The Wall Street Journal, as she tries to convince the two companies to merge. Shares of Viacom were up nearly 3% during intraday trade on Wednesday, while CBS shares dipped more than 1%. The report says Redstone approached CBS Chief Executive Leslie Moonves to reengage in talks to merge with Viacom. Moonves has not been keen on merging the two companies, which split in 2005. Media reports last weekend suggested that the two were not actively engaged in merger talks. Shares of Viacom are down nearly 17% in the last 12 months and shares of CBS are down close to 6%. By comparison, the S&P 500 index is up almost 24% and the Dow Jones Industrial Average is up 30%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
AP names Cogan US South deputy director for storytelling
The Associated Press has named Janelle Cogan, a journalist with more than a decade of experience leading reporters, as deputy director of storytelling for the U.S. South, a new position overseeing AP's presentation of news and enterprise across all media formats in 13 states.
Australian regulator to investigate Facebook, Google's impact on local news
An Australian government regulator said Monday it will investigate Facebook Inc. and Alphabet Inc.'s Google to see if the tech giants' platforms have unfairly disrupted the country's media and advertising business. The government said it hopes to find the impact that social media and search engines are having on the overall news environment. "We will examine whether platforms are exercising market power in commercial dealings to the detriment of consumers, media content creators and advertisers," Australian Competition and Consumer Commission Chairman Rod Sims said in a statement. As in the U.S., Australian newspapers have seen significant reductions in print ad revenue in recent years, and the government is concerned that digital platforms are hurting local journalism and media consumers. "Through our inquiry, the ACCC will look closely at the impact of digital platforms on the level of choice and quality of news and content being produced by Australian journalists," Sims said.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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