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☆ 2 ex-Boeing staffers said they wouldn't fly on the 737 Max, citing pressure to 'rush the planes out the door'
▼ + stars: | 2024-01-31 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Two former Boeing employees told the LA Times they wouldn't recommend flying on a 737 Max. "I saw the pressure employees were under to rush the planes out the door," a former senior manager said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTwo former Boeing staffers told the Los Angeles Times they wouldn't fly on a 737 Max jet due to concerns over its safety. "I would absolutely not fly a Max airplane," Ed Pierson, a former senior manager at Boeing, told the Times.

Persons: —, Ed Pierson, I've, Max, Joe Jacobsen, Jacobsen, Pierson, it's Organizations: Boeing, LA Times, Service, Los Angeles Times, Times, Alaska Airlines, Street Journal, New York Times, Airbus, Paris Air, Federal Aviation Administration, Business

WEST PALM BEACH, Fla. (AP) — The Messenger, an ambitious online news site that billed itself as a nonpartisan digital outlet and spent some $50 million ratcheting up its business effort, abruptly shut down Wednesday after only eight months in operation. In his email, Finkelstein said he hadn't shared the news with employees earlier because he had been trying desperately to raise enough funds to become profitable “literally until earlier today." “We exhausted every option available,” Finkelstein wrote, saying he was “personally devastated.”The Messenger website carried only its name and an email address Wednesday night. Planned cuts also have sparked walkouts by employees at other venues, including the New York Daily News and Forbes magazine. The Messenger was launched last May and spent heavily — some would say excessively, given the current media climate — in hopes of becoming a media heavyweight.

Persons: Jimmy Finkelstein, Finkelstein, hadn't, ” Finkelstein, “, ambitiously, Critics, Jonah Peretti, he'd, ” Organizations: The New York Times, Los Angeles Times, Sports Illustrated, Business, New York Daily News, Forbes, Associated Press, Washington D.C Locations: BEACH, Fla, New York, Washington, Florida

☆ 50 of the most iconic red-carpet looks in Grammys history
▼ + stars: | 2024-01-31 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: 1 min

Lady Gaga's neon-yellow hair and celestial dress at the 2010 Grammys will go down in awards show history. Lady Gaga at the 52nd Grammy Awards on January 31, 2010. "I am honored to be wearing Armani this evening. The series of pieces Mr. Armani created for me are truly iconic; they represent not only beautiful fashion, but my spirit and essence as an artist. She was wearing this creation when she won her first two Grammys that night.

Persons: Lady Gaga, John Shearer, Getty, wouldn't, Steven, Armani, Gaga Organizations: Los Angeles Times

☆ Startup news site The Messenger shutters less than a year after its launch
▼ + stars: | 2024-01-31 | by ( Chloe Melas | Doha Madani | ) www.cnbc.com time to read: +1 min

The Messenger, a startup digital news website that launched in May, is shutting down after reports that it was running out of money, an executive at the outlet who has been briefed on the matter told NBC News on Wednesday. The Messenger launched in May with Jimmy Finkelstein, who previously owned The Hollywood Reporter and The Hill, at the helm. It promised to provide "thorough, objective, non-partisan, and timely news coverage" in a time of bias and misinformation. Earlier this month, Semafor reported that The Messenger's board was considering shutting down the website as the outlet was set to run out of funds by the end of January. A day before staff were informed they were now without jobs, The New York Post reported that Finklestein was working to secure deals to inject new revenue into The Messenger to keep the site going.

Persons: Jimmy Finkelstein, Semafor, Finklestein, Conde Nast Organizations: NBC News, Hollywood, New York Post, Los Angeles Times, Forbes, Time, Sports Illustrated, Tech Crunch, Business

When Dr. Patrick Soon-Shiong, the billionaire owner of The Los Angeles Times, hired Kevin Merida to be the newspaper’s top editor nearly three years ago, he hailed the journalist as someone who would maintain the publication’s high standards and journalistic integrity. Their relationship was strained in part by an incident in December when Dr. Soon-Shiong tried to dissuade Mr. Merida from pursuing a story about a wealthy California doctor and his dog, three people with knowledge of the interactions said. The previously unreported incident occurred as The Los Angeles Times, the largest news organization on the West Coast, struggled to reverse years of losses amid a difficult market for newspapers. Mr. Merida resigned this month. It is not unheard-of for the owner of a publication to be consulted on sensitive reporting, particularly if it could jeopardize the newspaper legally or financially.

Persons: Patrick Soon, Kevin Merida, Shiong, Mr, Dr, Merida Organizations: Los Angeles Times Locations: Merida, California, West Coast

☆ Paramount CEO announces layoffs as cost pressures, take-private talks build
▼ + stars: | 2024-01-25 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com time to read: +2 min

Paramount CEO Bob Bakish announced layoffs at the media company Thursday, citing a need to "operate as a leaner company and spend less." Paramount did not immediately disclose how many jobs the company would cut. The company reports quarterly earnings at the end of February and plans to elaborate on its 2024 strategy then. The cuts come as a range of companies in the media industry and beyond announce layoffs while they push to trim costs. The layoffs also come as David Ellison's Skydance Media explores a deal to take Paramount private, CNBC reported Wednesday.

Persons: Bob Bakish, Bakish, David Ellison's Skydance Organizations: Paramount, Los Angeles Times, Business, Sports, CNBC, Hollywood, CNBC PRO

☆ News industry off to brutal 2024 start as mass layoffs devastate publishers, raising questions about future of journalism
▼ + stars: | 2024-01-25 | by ( Oliver Darcy | Jon Passantino | ) edition.cnn.com time to read: +8 min

The recent round of layoffs, while pronounced, are part of a much larger and unrelenting storm battering the journalism industry. Over the past 18 months, most news organizations have been forced to make difficult decisions to reduce their workforces. “I am sorry to say that I do not see turning around most legacy outlets,” Jeff Jarvis, the Leonard Tow Professor of Journalism Innovation at the Craig Newmark Graduate School of Journalism, told CNN. Dan Kennedy, a journalism professor at Northeastern University, noted some local news outlets have found financial sustainability. “There are reasons to be optimistic given the hundreds of independent local news organizations that have sprouted up in recent years,” he said.

Persons: Condé Nast, ” Jay Rosen, “, Jeff Jarvis, Craig Newmark, ” Jarvis, ” Rosen, Steve Bannon’s, Margaret Sullivan, Sullivan, ”, ” Sullivan, Jeff Bezos ’, Patrick Soon, Dan Kennedy, Shiong’s, Jeff Bezos, ” Kennedy, Rosen Organizations: CNN, Los Angeles Times, Business, Condé, Forbes, The New York Daily News, Washington Post, NPR, Vice Media, Sports, Vox Media, NBC News, CNBC, Gannett, Netflix, Columbia University, Google, Meta, New York University, Craig Newmark Graduate School of Journalism, America, Guardian, The Washington Post, The New York Times, “ Democracy, Jeff Bezos ’ Washington Post, Northeastern University, “ Billionaire, Minneapolis Star Tribune, Boston Globe, Journalists Locations: Covid, Jeff Bezos ’ Washington

NEW YORK (AP) — Journalists at The New York Daily News and Forbes walked off the job Thursday amid contentious contract talks with management and a difficult few weeks in the news industry. The one-day strike at the Daily News coincides with Forbes walkout, which runs through Monday. The labor union's actions come at a tumultuous time for media outlets, an increasing number of which are owned by billionaires. This week, Time magazine and Condé Nast, the publisher of Vogue, Vanity Fair, GQ and other marquee magazines, both announced significant job cuts. Forbes spokesperson Laura Brusca said the company is “working diligently” to reach a contract with the union.

Persons: “ Alden, Condé Nast, Jeff Bezos, Alden Global, Michael Gartland, they’re, “, Andrea Murphy, ”, didn’t, Laura Brusca, ” Murphy Organizations: — Journalists, The New York Daily News, Forbes, Daily, Daily News, Strikers, York, Vogue, GQ, Condé Nast, Los Angeles Times, The Washington Post, Amazon, Sports, Alden Global Capital, Alden, The Daily News Locations: New York, Manhattan

If you’re worried you could be laid off — or if you’ve lost your job — personal finance professionals and career advisers have recommendations for how to cope. You can do this by leaving space in your resume to include keywords that are specific to the job you are applying for. IF YOU HAVE BEEN LAID OFFPRIORITIZE YOUR MENTAL HEALTHYour mental health can be heavily affected after a job loss. SHARE YOUR EXPERIENCEIt can be hard to talk about losing your job, and you should only share if you feel comfortable. “It shows that you have grit, that you’re willing to work hard and take care of your responsibilities,” she said.

Persons: you’re, you’ve, Jesse Mecham, Mecham, It’s, Scott Dobroski, “, ”, Marlo Lyons, Lyons, Dobroski, “ I’ve, ” Lyons, “ Don’t, Charles Schwab Organizations: eBay, Riot Games, Los Angeles Times, YOU, Jobs, LinkedIn, “, Labor Department, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: Lafayette , Colorado, U.S

☆ Jewish groups in Spain are troubled by their government's decision to cling onto a painting looted by the Nazis
▼ + stars: | 2024-01-24 | by ( Mia Jankowicz | Thibault Spirlet | ) www.businessinsider.com time to read: +5 min

The decision has appalled the family, and those in the Jewish community. Spain's leading Jewish organization has long supported the family's legal fight to wrest the painting from the Spanish museum that holds it. AdvertisementThe museum, for its part, welcomed the US court's decision, while declining to comment on the views of the Jewish community in Spain. Californian law doesn't give owners rights over stolen goods. But in Spain, if you buy stolen goods in good faith, you have stronger claims.

Persons: —, Spain's, Bernardo Cremades, Lilly Neubauer, Camille Pissarro, Neubauer, Baron Hans Heinrich Thyssen, We've, Cremades, Francisco Franco, Cornelis van der, Ramón, Ernest Urtasun, Consuelo Callahan Organizations: Service, Business, Federation of Jewish Communities, Federation of Young, Saint, Guardian, Museo Nacional Thyssen, Bornemisza, Los Angeles Times, Circuit, Appeals, Spanish, El, BI Locations: California, Spain, Germany, Spanish, Bornemisza, Madrid, Basque

NEW YORK (AP) — Comedian Jon Stewart is rewinding the clock, returning to “The Daily Show” as a weekly host and executive producing through the 2024 U.S. elections cycle. Comedy Central on Wednesday said Stewart will host the topical TV show, the perch he ruled for 16 years starting in 1999, every Monday starting Feb. 12. Two former correspondents in particular got massive boosts — Steve Carell and Stephen Colbert. '”The show's abrupt end was reportedly triggered due to clashes between Stewart and Apple over its coverage of stories around China and artificial intelligence. A spokesperson did not immediately respond to questions about who will host “The Daily Show” after the November election.

Persons: Jon Stewart, Stewart, “ Jon Stewart, ” Chris McCarthy, Jon, Craig Kilborn, Trevor Noah —, Noah, Desi Lydic, Michael Kosta, Ronny Chieng, Jordan Klepper, Stewart didn't, untethered, ”, “, I’m, ’ ”, John Oliver, Larry Wilmore, Olivia Munn, Samantha Bee, Roy Wood Jr, Aasif Mandvi, Kennedy, Mark Twain, Steve Carell, Stephen Colbert, Carell, Ron Burgundy, ” Colbert, ___ Mark Kennedy Organizations: Central, Showtime, MTV Entertainment Studios, Strike Force, Hollywood, Guardian, CBS, Apple, Los Angeles Times Locations: China

Even by the standards of a news business whose fortunes have plummeted in the digital age, the last few weeks have been especially grim for American journalism. Prominent newspapers like The Washington Post are shedding reporters and editors, and on Tuesday, The Los Angeles Times laid off more than 20 percent of its newsroom. Esteemed titles like Sports Illustrated, already a shadow of their former selves, have been gutted overnight. An average of five local newspapers are closing every two weeks, according Northwestern University’s Medill School, with more half of all American counties now so-called news deserts with limited access to news about their hometowns. Of 1,100 public radio stations and affiliates, only about one in five is producing local journalism.

Persons: — Organizations: Los Angeles Times, Cable, Sports, Northwestern University’s Medill School Locations: Washington

“There is no Ken without Barbie, and there is no ‘Barbie’ movie without Greta Gerwig and Margot Robbie, the two people most responsible for this history-making, globally celebrated film,” Ryan Gosling said. Her first three films as a solo director — “Lady Bird,”“Little Women” and “Barbie” — have all been nominated for best picture. One likely factor: the increasingly international composition of the film academy. After Ben Affleck went unnominated for directing 2012's “Argo,” voters rallied around his movie, ultimately handing Affleck the Oscar for best picture. Whether the same effect could follow “Barbie" will be one of the biggest questions leading up the Academy Awards.

Persons: —, Barbie ”, Greta Gerwig's, Ken, Barbie, Greta Gerwig, Margot Robbie, ” Ryan Gosling, Hillary Clinton, Greta, “ Barbie, “ Oppenheimer, Jimmy Kimmel, “ Jimmy Kimmel, ”, Gosling, Robbie, Gerwig, “, Lady Bird, Kathryn Bigelow, Zhao, Jane Campion, Bird, Noah Baumbach, “ Barbie ”, Robbie didn't, ” snubs, Mary McNamara, Barbie ’, Robbie’s Barbie, Justine Triet, Palme, Christopher Nolan, Oppenheimer, Martin Scorsese, Jonathan Glazer, Yorgos, — Gerwig, Alexander Payne, Lanthimos, Glazer, Celine Song's “, Shannon Watts, “ Oscar, Ben Affleck, Affleck, Oscar, Billie Jean King, Jake Coyle Organizations: Twitter, Academy of Motion Pictures Arts, Sciences, Gerwig, Los Angeles Times, ” Locations: Europe

☆ More than 400 Condé Nast staffers stage one-day walkout to protest layoffs
▼ + stars: | 2024-01-23 | by ( Liam Reilly | ) edition.cnn.com time to read: +3 min

The company then revised the plan, announcing it would lay off 94 unionized members, or some 20% of the Condé Nast Union. It is time to start bargaining in good faith with us.”The NewsGuild of New York has filed an unfair labor practice charge on behalf of Condé Nast Union, citing regressive bargaining. “Media workers at Condé Nast are key to the company’s success and reputation for excellence. “Guild members in Condé Nast Union walked off the job today to remind management of their worth and urge company reps to bargain in good faith. We demand nothing less.”A Condé Nast spokesperson dd not immediately respond to a request for comment.

Persons: Condé Nast, Prada, “, ” Ben Dewey, Condé Nast, Susan DeCarava, Condé Organizations: CNN, Condé, Vogue, GQ, New, New York City, Condé Nast Union, CNE, Condé, Condé Nast Union, “ Media, Los Angeles Times, Washington Post Locations: New York, Condé Nast, Condé Nast

LOS ANGELES (AP) — The Los Angeles Times plans to lay off 94 newsroom employees — one-fourth of its newsroom staff — starting Tuesday, a number that is substantial but less than feared, the head of the journalists union said. The announcement comes after the LA Times Guild walked off the job last Friday to protest the imminent layoffs, the first newsroom union work stoppage in the newspaper’s 143-year history. Matt Pearce, president of the Media Guild of the West, which encompasses the Times' union, called it a “dark day.” He said the layoffs represent one-fourth of the Times Guild's entire membership. “Many departments and clusters across the newsroom will be heavily hit,” Pearce said in a statement Tuesday. Pearce said the union's bargaining committee would meet with Times management on Wednesday to start discussions about the layoffs as set out by the contract.

Persons: Matt Pearce, ”, ” Pearce, Gray, Dr, Patrick Soon, Kevin Merida, Pearce Organizations: ANGELES, Los Angeles Times, LA Times Guild, Media Guild, Times, Washington Post, NPR, CNN, Vox Media, LA Times, Tribune Co Locations: Challenger

☆ The Los Angeles Times plunges into ‘chaos’ as brutal layoffs loom and senior editors call it quits
▼ + stars: | 2024-01-23 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

New York CNN —The Los Angeles Times is in disarray. The Dr. Patrick Soon-Shiong-owned newspaper, which houses the largest newsroom in the western U.S., has been thrown into a state of mayhem as severe layoffs loom and senior editorial leaders abruptly call it quits. “I cannot overstate the level of chaos,” one staffer, who requested anonymity because they were not authorized to speak publicly, candidly told me on Monday. Then, news of forthcoming mass layoffs ensued, prompting the employee’s union to stage a historic one-day walk out on Friday. “All we are asking for is the opportunity for our newspaper and hardworking journalists to be fairly compensated, and for the L.A. Times to have a fair chance to become a self-sustaining institution.”

Persons: Patrick Soon, “, ”, Kevin Merida, Meg James, — Julia Turner, Sara Yasin, Scott Kraft, Shani Hilton —, alums Hilton, Yasin, Turner, “ Scott, Shiong Organizations: New York CNN, Los Angeles Times, BuzzFeed, alums, Kraft, Tribune Publishing, LA Times, LA Times Studios, Democratic, California, . Locations: New York, U.S

☆ Los Angeles Times slashes more than 20% of newsroom staff as the paper confronts a ‘financial crisis’
▼ + stars: | 2024-01-23 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

The cuts will impact at least 115 journalists, a person familiar with the matter told CNN, or slightly more than 20% of the newsroom. A spokesperson for The Times, which is owned by biotech billionaire Dr. Patrick Soon-Shiong, did not immediately comment. “Today’s decision is painful for all, but it is imperative that we act urgently and take steps to build a sustainable and thriving paper for the next generation,” Soon-Shiong told James. Soon-Shiong told James on Tuesday, however, that he had lost the confidence of Merida and some high-ranking editors he had appointed. The owner also pushed back against the characterization that the newspaper is in trouble, telling James, “We are not in turmoil.

Persons: ”, Matt Pearce, Pearce, Patrick Soon, Shiong, Meg James, “, James, Kevin Merida Organizations: CNN, Los Angeles Times, The Times, Times, Democratic, Monday, LA Times, . Locations: Merida, California

The announcement ends uncertainty about the extent of the cuts, after negotiations were held between the union and Times management. Dr. Soon-Shiong wrote in a note to staff that he and Mr. Merida had “mutually agreed” that Mr. Merida should leave. News of the layoffs — which will shrink the newsroom to the size it was when Dr. Soon-Shiong bought it — was delivered on Tuesday in a brief email to affected employees. “We are saddened to have to take this step and thank you for your work for the Los Angeles Times,” the email said. The cuts affected many departments at The Los Angeles Times, including its business desk, its Washington bureau and its “Fast Break” desk, which covers breaking news.

Persons: Kevin Merida, Shiong, Merida, Shani Hilton, Sara Yasin, — Organizations: The Times, Times, The New York Times, Los Angeles Times Locations: Merida, Washington

☆ A 16-year-old claims her parents have spent $3,000 buying her 67 different Stanley cups, as the giant mugs become the ultimate playground status symbol
▼ + stars: | 2024-01-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Read previewA 16-year-old TikToker claims that her parents have spent around $3,000 buying her every Stanley cup on the market. This story is available exclusively to Business Insider subscribers. The Quenchers were the most-featured item in Gen Z Christmas-haul videos on TikTok, a youth consumer-trends analyst previously told Business Insider . A shopper passes empty shelves once stocked with Stanley tumblers at a Target store in Canoga Park, California on January 9, 2024. Do you collect Stanley cups?

Persons: —, Stanley, Amelia Awad, Stanley Quencher, I'm, Stanley tumblers, Brian van der, Awad Organizations: Service, Business, Wall Street Journal, Starbucks, Hydro, Los Angeles Times, Getty Locations: Birmingham , Alabama, Canoga Park , California

☆ CSU faculty strike: Thousands of Cal State faculty walk off the job, beginning a massive five-day strike
▼ + stars: | 2024-01-22 | by ( Samantha Delouya | ) edition.cnn.com time to read: +4 min

Faculty and supporters picket during a strike at the California State University, Northridge campus in Los Angeles, California, US, on Monday, Jan. 22, 2024. Jill Connelly/Bloomberg/Getty ImagesVillanueva Bernal said one of her children attends a Cal State school, one of two public university systems in California. In a statement, Cal State said the CFA’s demand for a 12% raise, along with other economic demands, are “financially unrealistic.”“Their request far surpasses the state funding increase that the CSU received in last year’s state budget ($227 million) and is more than the entire budget of Cal Poly Pomona ($369 million),” Cal State said. The union has been bargaining with Cal State since May, and the university system has offered a 5% raise each year over three years. However, CFA has argued that Cal State can afford their proposals.

Persons: ”, “, Elaine Villanueva Bernal, Jill Connelly, Villanueva Bernal Organizations: Los Angeles CNN, California State University, California Faculty Association, ”, CFA, Cal State, CSU, Cal State University, Cal State University Long Beach, Faculty, Northridge, Los Angeles Times, Bloomberg, Getty, Cal Poly Pomona, Cal, management’s Locations: Cal State University Long, Los Angeles County, ”, Los Angeles , California, California

☆ Opinion | I Am Going to Miss Pitchfork, but That’s Only Half the Problem
▼ + stars: | 2024-01-21 | by ( Ezra Klein | ) www.nytimes.com time to read: +2 min

I’m gutted to see Condé Nast folding the online music magazine Pitchfork into GQ. I won’t try to improve on the eulogies written for the site already (Casey Newton and Eric Harvey have good ones). It’s one of the few corners of the internet I still love, no matter how often I find myself in disagreement. I’ve seen some thoughtful writing already on why Pitchfork couldn’t make it. In this case, they’re specific to Pitchfork’s editorial choices and market position.

Persons: Condé Nast, Casey Newton, Eric Harvey, HuffPost, FiveThirtyEight Organizations: Pitchfork, GQ, New York Times, Sports, BuzzFeed, Popular, U.S . News, Gawker, ABC News, Grid, ”, Vox Media, McClatchy, Los Angeles Times, Baltimore Sun, Dallas Morning News Locations: U.S

☆ Photos: Meet Jodie Foster's Wife and 2 Sons
▼ + stars: | 2024-01-20 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +6 min

Foster shares two children with her former partner, Cydney Bernard: Charles "Charlie" Bernard Foster, 25, and Christopher "Kitt" Bernard Foster, 22. Kit Bernard Foster, Jodie Foster, David Hedison, Charlie Bernard Foster, and Alexandra Hedison. AdvertisementFoster's wife, Alexandra Hedison, is a photographer and former actor who appeared in "The L Word"Jodie Foster and Alexandra Hedison at the 2024 Golden Globes. Charles "Charlie" Bernard Foster is the eldest child of Foster and her former partner, Cydney BernardJodie Foster with Kit and Charlie at the British Academy Britannia Awards in 2016. Christopher "Kit" Bernard Foster is her youngest childJodie Foster with Charlie and Kit at the Hollywood Walk of Fame in 2016.

Persons: Jodie Foster, Foster, Kit, Charles, Alexandra Hedison, —, Cydney Bernard, Charlie, Bernard Foster, Christopher " Kitt, Kit Bernard Foster, David Hedison, Charlie Bernard Foster, Kevork Djansezian, Annette Bening, she's, Earl Gibson III, Hedison, Dylan Moreland, James Bond, Ellen DeGeneres, Cydney Bernard Jodie Foster, HuffPost, I'm, Frank, Christopher, Eric Charbonneau, Bernard, Kit isn't Organizations: Service, Lambs, Sundance, Los Angeles Times, The New York Times, British Academy Britannia, LA Entertainment, Sun Sentinel, Cedars Sinai Medical Center, Hollywood, Magazine, Yale University, Yale College Arts, Getty, CBS, Guardian, Magic Radio Locations: Hedison, Melrose, Cedars, Los Angeles

LOS ANGELES (AP) — Guild members of the Los Angeles Times walked off the job Friday to protest what it says are imminent layoffs, the first newsroom union work stoppage in the newspaper's 143-year history. The guild said members would also protest in other cities. Dr. Patrick Soon-Shiong, a biotech billionaire, acquired the Times in 2018, returning it to local ownership two decades after it was sold to Tribune Co. Political Cartoons View All 253 ImagesA Times' representative told the paper that revenue projections were under review and expenses were being carefully examined. “We need to reduce our operating budget going into this year and anticipate layoffs,” spokeswoman Hillary Manning said in a statement.

Persons: Patrick Soon, Hillary Manning Organizations: ANGELES, —, Los Angeles Times, Times, Tribune Co Locations: LA

There’s an old saying about the news business: If you want to make a small fortune, start with a large one. As the prospects for news publishers waned in the past decade, billionaires swooped in to buy some of the country’s most fabled brands. Jeff Bezos, the founder of Amazon, bought The Washington Post in 2013 for about $250 million. Dr. Patrick Soon-Shiong, a biotechnology and start-up billionaire, purchased The Los Angeles Times in 2018 for $500 million. Marc Benioff, the founder of the software giant Salesforce, purchased Time magazine with his wife, Lynne, for $190 million in 2018.

Persons: Jeff Bezos, Patrick Soon, Marc Benioff, Lynne Organizations: Amazon, Washington Post, Los Angeles Times

☆ Los Angeles Times staffers to stage one-day walkout to protest impending layoffs
▼ + stars: | 2024-01-18 | by ( Oliver Darcy | ) edition.cnn.com time to read: +2 min

CNN —Staffers at the Los Angeles Times will stage a one-day walkout on Friday after the newspaper’s management indicated that it expects to soon lay off employees as it struggles financially. The act of protest will be the first such work stoppage in the outlet’s 143-year history, said the Guild, which represents some 400 employees. “Given the recent discussions about our economic challenges and the potential for staff reductions, we wanted to share an update,” the company said in a memo to employees. The Times has started the new year on rocky footing. News companies across the industry have struggled immensely in recent years, with the vast majority of publishers being forced to undergo painful layoffs as they navigate difficult terrain.

Persons: “, ”, Kevin Merida Organizations: CNN, Los Angeles Times, ” Management, Times, .

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