AOL CEO TIM ARMSTRONG’S PLAN TO CREATE AN AD AND DIGITAL MEDIA POWERHOUSE IS NOT SOUNDING LIKE A GOOD IDEA TO SOME
Armstrong aims to combine AOL’s ad technology and content with Yahoo’s to create a digital media and ad powerhouse to rival that of Google and Facebook. The expectation is that he will also cut jobs and other costs to save money.
VICE SIGNS DEAL TO PUSH CONTENT IN JAPAN
Vice has signed a production and distribution deal with Japanese m-commerce provider Docomo Digital as it looks to extend its coverage to a young mobile audience in the country.
THE MURDOCHS SUE NETFLIX
21st Century Fox on Friday filed a lawsuit against Netflix Inc., accusing the streaming-video giant of illegally hiring two of its executives who were under contract. The suit, filed in California Superior Court in Los Angeles by Fox units Twentieth Century Fox Film Corp. and Fox 21 Inc., alleges that Netflix has run a “brazen campaign to unlawfully target, recruit, and poach valuable Fox executives by illegally inducing them to break their employment contracts with Fox to work at Netflix.”
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I was sitting in a large meditation hall in a converted novitiate in central Massachusetts when I reached into my pocket for my iPhone. A woman in the front of the room gamely held a basket in front of her, beaming beneficently, like a priest with a collection plate. I duly surrendered my little device, only to feel a sudden pang of panic on my way back to my seat. If it hadn’t been for everyone staring at me, I might have turned around immediately and asked for it back. But I didn’t. I knew why I’d come here.
THE DAILY DOT ELIMINATED ALMOST HALF OF ITS WORKFORCE
The Daily Dot laid off 30 people — about 40 percent of its total staff — on Friday. The cuts were across the board, affecting everyone from upper management and the business side to the newsroom and art department. The entire product team was laid off. The budget for freelancers has also been eliminated
RODALE BRINGS BACK TIME INC’S MATT BEAN AS EDITOR IN CHIEF OF MEN’S HEALTH
Matt Bean is ditching Time Inc where he serves as SVP, Editorial Innovation and returning to Rodale as the new Editor in Chief of Men’s Health magazine. He starts at Rodale on September 19.
FACEBOOK, GOOGLE, MICROSOFT, APPLE AND OTHERS SEEN AS POSSIBLE BUYERS OF TWITTER
Facebook does a lot of things really well. One of those things is selling and delivering mobile advertising, which, coincidentally, is how Twitter makes money. Facebook is also great at user growth — it has three separate billion-user products, plus Instagram, which has more than 500 million users. Twitter has been stuck right around 300 million monthly users for over a year and needs a serious distribution jolt. Facebook also does a lot of things well that Twitter wants to do, like video distribution and messaging.
B2B GIANT PENTON SOLD TO INFORMA FOR $1.5 BILLION
The UK media company Informa plc has bought Penton for $1.56 billion (£1.18 billion). The deal is expected to be closed by November. Penton has moved from a mainly B2B print magazine company into an events and information company, similarly positioned as its new owner.
QUARTZ PRESIDENT JAY LAUF EXPLAINS HOW THE WEBSITE BECAME A BUSINESS NEWS POWERHOUSE IN JUST FOR YEARS
Not many media properties achieve such instant recognition as Quartz has in its short four-year tenure. It’s due in no small part to the clearly articulated vision of founder Jay Lauf. He stepped in to Digital Media Strategies USA 2016 for a chat about how he turned the brand into an institution and an adjective.
VIACOM EYES DISCOVERY’S OUTGOING AD CHIEF
Viacom’s new management may consider a move to bring in a powerhouse ad sales chief, and Madison Avenue sources say to keep an eye on outgoing Discovery ad sales boss Joe Abruzzese. The CBS veteran worked with new Viacom board member Judith McHale when she was in charge of Discovery back in 2002.
INVESTOR SUES TWITTER OVER LACK OF USER GROWTH
Twitter has been sued by a shareholder over claims it misled investors on key growth metrics, including user count and user engagement, almost two years after touting plans to top 500 million users. The suit comes as Twitter struggles to keep its audience from defecting to platforms such as Snapchat and Instagram.
TIME INC AND TWITTER BUDDYING UP FOR NFL LIVE STREAMING VIDEO
For the first time, sports fans can watch the Twitter live stream of the NFL “Thursday Night Football” game on Time.com. During the 2016 season, “Thursday Night Football” games will be available to stream on Time.com, thanks to a new syndication partnership between Twitter and Time Inc.
TRUMP ATTACKS HEARST’S COSMO MAGAZINE AFTER DAUGHTER’S INTERVIEW
After Ivanka Trump abruptly cut off an interview with Cosmopolitan after the reporter asked tough questions, Donald Trump complained about the magazine’s coverage and said his daughter was “attacked” by a “non-intelligent” reporter. Trump added: “It is a dying magazine. It’s gone downhill and now it’s like a useless magazine.”
ARIANNA HUFFINGTON LAUNCHING APP TO HELP USERS DUMP TECHNOLOGY?
Thrive Global is not considered a media company and won’t have a chief editor, Arianna Huffington said, though “there will be a team that navigates the offerings.” Another pillar of the business is proprietary app technology — which ironically will produce technology to help consumers wean themselves off technology. Huffington admits this “sounds paradoxical.”
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