It wasn’t all that long ago that a billionaire buying a storied news publication was a sign of hope and optimism. After all, they had money to lose, and they earned their fortunes by creating something new. Maybe they could figure out how to make media work?
And what about private equity? It’s an industry premised on turnarounds: acquiring underperforming companies, reimagining them and making them succeed.
Or the classic family-owned publication: Keeping a business in the family with no goal of excessive profits, just a certain amount of stability to keep the legacy alive.
Unfortunately, it seems, no category of owner appears able to salvage a media business in decline, with business models still stuck in the past (programmatic, anyone?) and editorial models built for a world before Facebook, TikTok and artificial intelligence.
The media sector is facing a crisis unlike anything seen since the 2008 financial mess,...
And what about private equity? It’s an industry premised on turnarounds: acquiring underperforming companies, reimagining them and making them succeed.
Or the classic family-owned publication: Keeping a business in the family with no goal of excessive profits, just a certain amount of stability to keep the legacy alive.
Unfortunately, it seems, no category of owner appears able to salvage a media business in decline, with business models still stuck in the past (programmatic, anyone?) and editorial models built for a world before Facebook, TikTok and artificial intelligence.
The media sector is facing a crisis unlike anything seen since the 2008 financial mess,...
- 1/25/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
The CEO of the parent company of Sports Illustrated was ousted on Monday.
The firing followed a scandal over the publication’s use of AI-generated stories from fake authors, although it was not immediately clear if that was related to the shakeup.
Ross Levinsohn, CEO of The Arena Group, was terminated and Manoj Bhargava was named interim chief executive officer, the company said. No other information was provided, other than that the board met “and took actions to improve the operational efficiency and revenue of the company.”
Last week, the company fired operations president and COO Andrew Kraft, media president Rob Barrett and corporate counsel Julie Fenster.
Levinsohn had been in his role since 2020. He had previously been a top executive at Yahoo, Fox Interactive and Tribune Publishing.
A recent piece on the web site Futurism alleged that stories on the Sports Illustrated web site “were churned out using AI,...
The firing followed a scandal over the publication’s use of AI-generated stories from fake authors, although it was not immediately clear if that was related to the shakeup.
Ross Levinsohn, CEO of The Arena Group, was terminated and Manoj Bhargava was named interim chief executive officer, the company said. No other information was provided, other than that the board met “and took actions to improve the operational efficiency and revenue of the company.”
Last week, the company fired operations president and COO Andrew Kraft, media president Rob Barrett and corporate counsel Julie Fenster.
Levinsohn had been in his role since 2020. He had previously been a top executive at Yahoo, Fox Interactive and Tribune Publishing.
A recent piece on the web site Futurism alleged that stories on the Sports Illustrated web site “were churned out using AI,...
- 12/11/2023
- by Ted Johnson
- Deadline Film + TV
Photo: Manoj Bhargava Manoj Bhargava: A Billionaire Rich in Humanity Bhargava is an established businessman and philanthropist, worth billions. He is the founder of the company that produces the ‘5-Hour Energy’ drinks, Innovations Ventures LLC. Sales for the company had gone up to about $1 billion since 2012, making Bhargava one of the world’s richest men. However, Bhargava does not use his profit in the way we would expect. An outstanding 99% of Bhargava’s net worth has been going towards improving the world’s health and those who are less fortunate since 2015. Although I have always admired this man for his humanity and generosity, I have always wondered why. I suspect this act comes from empathy. Bhargava comes from very humble beginnings. In 1953, Bhargava was more in Lucknow, India. His family moved to the United States in the late ‘60s for a better life. Related article: Beyoncé Is More Than Just A Singer,...
- 4/13/2021
- by Danessa Naj'e Lopez
- Hollywood Insider - Substance & Meaningful Entertainment
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.