Good Media Morning to you.
Meredith‘s Hello Giggles website launched a print magazine…Meredith will probably lower the asking price of those 4 former Time Inc publications it put on sale…Amazon Prime now has 100 million subscribers…Netflix is planning a $1billion assault on European broadcasters…Oh yeah the streaming giant is also looking into buying movie theaters…Instagram Stories is now a major traffic driver for some publishers…Time Inc UK is moving some of its publications to a centralized editorial hub…The Sinclair-Tribune merger is about to be green lighted…These and more for your Media Morning Today. Dive in!
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MEREDITH PROBABLY WON’T GET WHAT IT WANTS FOR THE OLD TIME INC TITLES
No one buyer probably wants all three, but there are probably a lot who want just one of those properties.” Phillips said the titles will each find a home, but not for as much money as Meredith would like. I think the purchase prices are gonna be lower than they anticipated across the board.
HOW ARCHITECTURAL DIGEST EDITOR AMY ASTLEY IS REINVENTING THE PUBLICATION FOR THE DIGITAL AGE
When Amy Astley, the editor-in-chief of Architectural Digest, was appointed to lead the storied publication two years ago, her goal was to reinvent the magazine and its online presence for the digital age. Astley prioritized featuring breaking news and giving readers a glimpse of extraordinary homes
WWD PLAYED THE ANNA WINTOUR SUCCESSOR GAME
While the Page Six item in The New York Post that Wintour will step down in July as artistic director of Condé Nast and editor in chief of American Vogue after her daughter Bee Shaffer’s wedding has been firmly denied by Condé
HARPERS MAGAZINE EDITOR JAMES MARCUS WAS FIRED
Subsequent to our brief note from Monday that Harper’s Magazine editor James Marcus has left the publication, Marcus tells PL that he was fired on Friday afternoon, for “opposing the publication of Katie Roiphe’s cover story in the March issue.” The article, “The Other Whisper Network: How Twitter feminism is bad for women,” drew criticism online in January before it was published, over suggestions that Roiphe intended to reveal the identity of the creator of the “Sh—y Media Men” list
JEFF BEZOS SAYS AMAZON HAS 100 MILLION PRIME MEMBERS
Amazon CEO Jeff Bezos has released his latest annual shareholder letter. In the letter, Bezos stressed the importance of having high standards in running a business. By setting high standards, companies are able to live up to “ever-rising customer expectations,” he said.
MEREDITH AIMS TO MAKE PEOPLE TV A BIGGER MULTIPLATFORM ENTERTAIMMENT PROPERTY
PeopleTV is about to become a full 24-hour linear TV channel, distributed through internet-streaming startup FuboTV — its first pay-TV deal. In another new extension, PeopleTV next week is set to launch “Chatter,” its first live talk show on Twitter, hosted by TV personality Rocsi Diaz.
NETFLIX PLANNING $1BILLION EUROPEAN EXPANSION
Netflix will escalate its assault on European broadcasters by sharply increasing its content investment across the continent, with plans to spend about $1 billion on original productions this year. The revised budget will be more than double that of last year.
INSTAGRAM STORIES DRIVING TRAFFIC FOR PUBLISHERS
Facebook’s algorithm change earlier this year highlighted that the audiences that publishers and influencers cultivated in these walled-garden platforms are not their own. But increasingly, publishers and influencers are using Instagram Stories to convert those audiences into ones they do own.
TIME INC UK MOVES SEVERAL MAGAZINES TO CENTRALIZED EDITORIAL HUB
The publisher, which owns more than 50 magazines including Marie Claire, NME and Cycling Weekly, said it will try to find alternative jobs for those whose roles will be lost in the creation of a centralised hubbing model.
TIME WARNER BOSS CALLS ANTITRUST ALLEGATIONS RIDICULOUS
Time Warner Inc.’s chief executive testified Wednesday that the government’s assertions that AT&T Inc. wanted to buy the company to use its programming as leverage over distributors “makes no sense” because it would limit viewership.
DISNEY’S ABC ON THE HUNT FOR NEW MANHATTAN HQ
ABC is seeking a deal to move its longtime Midtown Manhattan digs to a new building — and one of the prospective sites is at 4 Hudson Square. Meanwhile, Disney has tentatively agreed to sell several Lincoln Square buildings, including its HQ and a few ABC studios, for more than $1 billion.
SINCLAIR’S $6.6B TAKEOVER OF TRIBUNE IS ABOUT TO BE GREEN LIGHTED BY THE DOJ
President Trump’s Justice Department, barring any last-minute changes, is days away from clearing the controversial $6.6 billion acquisition of Tribune Media by Sinclair Broadcasting.
GOOGLE AMP STORIES OFF TO A SLOW START
Nearly six months after Google launched AMP stories, some publishers see its take on the visual content format first popularized by Snapchat and Instagram as off to a slow start. AMP stories launched in beta with eight publisher partners, including Meredith, Vox Media and The Washington Post, and then opened up to all AMP developers.
OATH BOOTS MEDIA BOSS, INSTALLS ALIBABA EXEC AS PRESIDENT & COO
Simon Khalaf, a former Yahoo executive who became head of Oath’s media brands when Verizon finally bought Yahoo last year, left last week. Oath CEO Tim Armstrong says Khalaf won’t be replaced. But the media bosses who formerly reported to Khalaf will now report to K. Guru Gowrappan, who Armstrong has brought in from Alibaba to become his No. 2 exec
THIS IS WHY FOX REJECTED COMCAST
Rupert Murdoch’s Twenty-First Century Fox Inc which agreed in December to sell most of its assets to Walt Disney Co for $52.4 billion, had previously rejected a bid from Comcast Corp over concerns about the regulatory risks and its stock value, a regulatory filing on Wednesday showed
DIGITAL SERVICE FUBOTV COUNTS MEDIA GIANTS DISCOVERY AND FOX AS INVESTORS
FuboTV, a startup that sells a cable-TV-like “bundle” of live TV you can stream to your laptop, phone or TV, has raised $75 million from a group of investors that includes AMC Networks, 21st Century Fox and Discovery. Traditional VC investors Northzone and Luminari Capital are also in this round.
NETFLIX MAY BUY MOVIE THEATERS
Netflix may be ready to move onto the big screen in a new and surprising way — by owning cinemas. The company has explored the idea of buying movie theaters in Los Angeles and New York that would enable it to screen a growing pipeline of feature films.
SNAPCHAT USERS CAN NOW SHOP DIRECTLY FROM SNAPS
Snapchat users can now shop directly from a snap without leaving the app. Shoppable AR is a new feature on Snapchat that gives advertisers the ability to add a website to sponsored photo filters all within the platform
W MAGAZINE’S EDITOR: GET READY TO PAY MORE FOR MAGAZINES
Stefano Tonchi, editor-in-chief of W magazine, spoke to students at Columbia University: “I want to be very positive in terms of the future of magazines. I like this idea of a product you want to collect, but you have to be ready to pay more for it. It’s almost a luxury product.”