Axios Sells to Cox Enterprises for $525 Million
Axios sold to media giant Cox Enterprises for $525 million. The new deal will place a substantial focus on local markets, as Axios has begun to increase its focus on local news with regional-specific reporters and newsletters.
CNN Cancels “Reliable Sources” Show
CNN canceled its Sunday Morning Show, “Reliable Sources.” The last episode aired on August 21st. The show’s host, Brian Stelter will leave the network as well. In his final monologue, Stelter said, ““It is not partisan to stand up for decency and democracy and dialogue,” he argued. “It is not partisan to stand up to demagogues—it’s required, it’s patriotic. We must make sure we do not give a platform to those who are lying to our faces.”
Morning Brew Launches Creator Program
Morning Brew, the rising platform for business millennials, launched a new creator program that allows independent personalities/influencers to work for the company full time while maintaining separate and distinct products and brands. CEO of Morning Brew, Austin Rief, said the new program will help the brand expand into more niche topics outside of the newsletters like personal finance, entrepreneurship, and productivity.
Forbes Looks Toward New Deal to Sell at $630 Million
Forbes explores a new sale valued at $630 million and hired Citigroup to help them through the process. The new sale comes after Forbes decided not to go through with a SPAC deal earlier this year.
Study – Cable TV Has More Significant Impact on America’s Polarization Than Social Media
Researchers from Stanford University, the University of Pennsylvania and Microsoft Research published a study Quantifying partisan news diets in Web and TV audiences that surveyed American’s relationship between partisanship and the media. The study found that cable TV is the top driver of partisan polarization among Americans ahead of social media and that Americans are increasingly leaning toward partisan news channels (MSNBC/Fox News) rather than more broad news networks (CBS/ABC).
Activist Investor, ValueActs, Takes Stake in New York Times
Activist investor ValueAct Capital Partners LP has taken a 6.7% stake in New York Times where it plans to move towards more subscriber-only content. Among its plans is to convince more readers to pay for content such as the New York Times’s recent acquisition, The Athletic, as well as daily content, such as crossword puzzles and recipes.
NY Times Names New Editor-at-Large
Matt Purdy, current lead investigative editor at the New York Times will become a new editor-at-large at the company. Purdy has been at the New York Times since 1993 where several of his investigative projects and reports have won Pulitzer Prizes.
Washington Posts Names New Audio Producer For Daily Podcast
Eliza Dennis will join The Washington Post’s daily podcast, Posts Reports, as an audio producer. Previously, Dennis was an audio producer for NPR’s “Weekend All Things Considered” and the afternoon news podcast “Consider This.”
ABC News Announces New Co-Anchor of World News Now
ABC News announced Rhiannon Ally will be the new co-anchor for the shows, “World News Now” and “America This Morning.” Ally has been with ABC News since December 2021 where she has been a freelance correspondent for NewsOne and substitute anchor for our overnight programs.