Meredith sells Money to Ad Practitioners

“Meredith has closed on the sale of the Money brand to Ad Practitioners, a portfolio of digital brands, including Terms of the deal were not disclosed.

The sale includes the website, which averages 4 million monthly unique visitors, according to comScore. Currently, 14 employees work on at Meredith offices in New York. Under terms of an employee lease agreement between the parties, the 14 will remain Meredith employees until Jan. 31, 2020, at the latest.

“We are pleased to find a great home for the Money brand and wish all parties great success under the new ownership,” said Meredith Chief Development Officer John Zieser. “We continue to make significant progress on our asset sales and expect to shortly announce additional transactions at attractive multiples.”

Meredith acquired the Money brand as part of its January 2018 acquisition of Time Inc. After a portfolio analysis, Meredith decided to sell non-core properties, the company says. Assets sold to date have included the Time, Fortune and Sports Illustrated brands, in addition to some international holding.”

Source: News and Tech, 2019 

McClatchy to cut about 30

“One percent, or about 30 staff members, will be cut at McClatchy, according to an email to staff from McClatchy President and CEO Craig Forman, Poynter reports.

Copy editors seem to be taking the biggest hit, according to Poynter. No reporter jobs will go, according to the memo.

In his memo, Forman also indicated that the company’s board is expected to name Peter Farr, McClatchy’s chief accounting officer and corporate controller, as Elaine Lintecum’s successor as CFO. It’s among a number of personnel and regional structure changes outlined in the memo.

In a different memo, Kristin Roberts, McClatchy’s vice president of news, wrote about expanded shared editing teams and centralizing print planning. The memo said the company would complete the removing print production completely from its newsrooms by moving print planning into the McClatchy Publishing Center (Charlotte, North Carolina).

In other news involving the company, McClatchy is planning to drop the Saturday print editions of the Fresno Bee and Modesto Bee in the near future, the Sacramento Business Journal reported.

McClatchy also plans to drop the Saturday print of The Tacoma News Tribune and The Olympian in January, KING-TV reported.

Earlier in the year, the company dropped Saturday print of the Myrtle Beach Sun News (South Carolina), the Durham Herald Sun in Durham (North Carolina) and the Bellingham Herald (Washington).”

Source: News and Tech, 2019

Tampa Bay Times lays off 7

“The Tampa Bay Times laid off seven journalists last week, Poynter reported.

The layoffs involved five full-timers and two part-timers. Two other openings won’t be filled.

St. Petersburg, Florida-based Poynter owns the paper.

Also, the paper will merge its national and local sections in print Monday through Saturday, Poynter said.

A large auto dealership advertiser was lost to the paper recently and digital revenue did not amount to as much as hoped, Poynter said.

In August, a partnership of Tampa Bay business leaders, including Tampa Bay Lightning owner Jeffrey Vinik and Paul Tash, chairman of the Tampa Bay Times, raised its loan to the Times Publishing Company by $3 million. With the boost, the total loan amounts to around $15 million, Poynter said. The Times said the increased funds would go to its pension plan.”

Source: News and Tech, 2019 

Amazon launches News app

“Amazon has launched its News app on Fire TV, the company announced Oct. 22.

The aggregating app will appear on Fire TV home screens titled “News.” No download or subscription is required to use the feature, as it’s free and supported by ads.

Users can watch news clips and live feeds from providers such as CBS News, Bloomberg, HuffPost, Yahoo, Reuters, Sports Illustrated, Entertainment Weekly and others. When users want to watch the news, they can say, “Alexa, play the news,” and Alexa will automatically open the app and play content. Users can customize their news experience with the app.

The News app will be automatically downloaded to Fire TV devices, and users should see it on their home screen in the ‘Your Apps and Channels’ row. In addition to the News app, there is also a dedicated News row on the Fire TV homescreen.

The app will be available to Fire TV customers in the U.S.”

Source: News and Tech, 2019 


U.K. Telegraph papers for sale

“The family that own the U.K.’s Daily Telegraph and the Sunday Telegraph are selling the papers, the Times reported.

Aidan and Howard Barclay, sons of David Barclay, 84, are evaluating the family’s property, the Times reported. Properties include The Ritz hotel and Shop Direct. The Ritz is also up for sale.

David Barclay and twin Frederick bought the papers in 2004.

Sales of the print editions have fallen. The Daily Telegraph is averaging a daily circulation of 310,586 and The Sunday Telegraph sells 244,351 copies daily on average, the BBC reported.

The BBC said there have been rumors that Amazon founder Jeff Bezos and Evgeny Lebedev, who owns the Independent and Evening Standard, have shown interest.”

Source: News and Tech, 2019