Mediagazer: Sources: the Benioffs are paying approximately 5.76 times the operating earnings for Time Magazine, which is expected to see a 9% revenue decline this year (Jeffrey A. Trachtenberg/Wall Street Journal)

12:15 AM ET, September 18, 2018

Top News:

Ken Doctor / Nieman Lab:

A McClatchy-Tronc merger, with Patrick Soon-Shiong as key player, could see a revitalization in California journalism and tech innovation — One's a family-controlled, century-plus-old newspaper chain, known for believing in its civic mission but not for its digital strategy. The other is, well, Tronc.

Discussion: Chicago Tribune and Poynter

David Streitfeld / New York Times:

Marc Benioff says he won't get involved operationally in Time, which will remain in New York, with Meredith remaining a key partner — While having a massage late Sunday, the West Coast-based tech billionaire discussed via text message why he was entering the East Coast-based media industry …

Discussion: @pkafka, @karaswisher, @mccanner, @amandalitman, @puiwingtam, CNNMoney, @socarolinesays, @kevinroose, @mat, @shanegoldmacher, CBS San Francisco, Joe.My.God., Business Insider, Adweek and The Week, more at Techmeme »

Jeffrey A. Trachtenberg / Wall Street Journal:

Sources: the Benioffs are paying approximately 5.76 times the operating earnings for Time Magazine, which is expected to see a 9% revenue decline this year — Marc and Lynne Benioff are paying roughly 5.76 times operating earnings for Time magazine, which is expected to see a 9% decline in revenue this year

Discussion: Digiday, Vanity Fair, New York Times, Business Insider and Recode

Peter Kafka / Recode:
After Time magazine's sale, questions remain about the future of Fortune, Money, and Sports Illustrated, which Meredith has been trying to sell for most of 2018

Discussion: @pkafka, Press Gazette, The Wrap, @jtemple, @micahwright, Awful Announcing, MediaPost, Folio, Fortune, Ad Age, The Week and Business Insider

Jeffrey A. Trachtenberg / Wall Street Journal:
Meredith Corp. has agreed to sell Time magazine for $190M to Marc Benioff, co-founder of Salesforce.com, and his wife, Lynne Benioff

Discussion: @benioff, New York Times, TIME, @danprimack, Fast Company, San Francisco Chronicle, Business Insider, @corytv, @benioff, Adweek, @teddiew, @rafat, @pgourevitch, @norahodonnell, @adamwren, @ranimolla, @acsifferlin, @charlottealter, @joshtpm, @evanasmith, @trengriffin, @pkafka, @efelsenthal, The Daily Caller, Hollywood Reporter, @rrhoover, @ghoshworld, @sruhle, @andrewrsorkin, @hunterwalk, @karaswisher, @sampjacobs, Talking Biz News, Associated Press, Recode, The Week, @jayrosen_nyu, @nancygibbs, @karaswisher, @alansmurray, Variety, CNNMoney, @karaswisher, @rayroyreed, Fortune, @nyggmatic, @scobleizer, @jamesloduca, @sameerpatel, @mattocko, @lisaabeyta, @anton1s, @brianstelter, @walterisaacson, @adambanksdotcom, Engadget, @benmullin, @_ravensfan61, @sdkstl, @brianstelter, @paulgoldberger, @rafat, Meredith Corporation MediaRoom, Jonathan D. Woods, NPR, HuffPost, Financial Times, NBC News, The Wrap, Des Moines Register, GeekWire, New York Post, Bloomberg.com, Deadline, Forbes and Rehak/Stuebing Mostly Media, more at Techmeme »

Cora Currier / The Intercept:

Internal memos from 2015, written by US AG for FBI, show how the US government can monitor journalists: high-level DOJ officials bring requests to FISA court — The U.S. government can monitor journalists under a foreign intelligence law that allows invasive spying and operates outside …

Discussion: Freedom of the Press … and Hit & Run

Brian Stelter / CNNMoney:

Sources: Julie Chen to step down from CBS' The Talk but will continue to host Big Brother after CEO Les Moonves' exit amid accusations of sexual misconduct — Julie Chen is stepping down from “The Talk” on CBS, one week after her husband Les Moonves left the CBS Corporation under pressure.

Discussion: The Wrap, Mediaite, Hollywood Reporter, The A.V. Club, TV Insider, AOL, The Week and Hollywood Life

Hollywood Reporter:

HBO and Netflix tie for the most Emmy wins, taking home 23 each; Amazon's The Marvelous Mrs. Maisel won eight awards; Hulu won four — HBO is still the Emmy champion — but it has some company at the top. — The streaming era has already turned the TV business upside down …

Nathan Ingraham / Engadget:

Pandora releases a custom playlist for Premium on-demand users called The Drop, which features newly-released tracks based on listening history — If you ask Spotify users why they're loyal to the music service, chances are many of them will cite personalized new music playlists like Discover Weekly and New Release Radar.

Discussion: Pandora Blog, Digital Trends, CNET, RAIN News, The Verge, TechCrunch and Music Business Worldwide

Benjamin Mullin / Wall Street Journal:

Gawker's owner Bryan Goldberg plans to spend at least $5M in the first year of its relaunch, mostly on hiring editorial staff, some toward media acquisitions — The company is planning to hire “dozens” of writers and editors ahead of next year's relaunch, and is scouting other acquisitions

Hannah Frishberg / Columbia Journalism Review:

A look at the three profitable independent local news outlets, a bi-weekly and two blogs, in the New York neighbourhood of Roosevelt Island — Roosevelt Island, a thin, roughly two-mile sliver of land in the East River between Manhattan and Queens, is home to some 14,000 New Yorkers …

Jesse Brown / CANADALAND:

Jesse Brown, the reporter who initially broke the Jian Ghomeshi story, says Ghomeshi's essay in The New York Review of Books is filled with inaccuracies — Had The New York Review of Books bothered to look into Ghomeshi's claims before publishing his essay, this is what they would have learned

Discussion: @jessebrown, Fortune, @mattyglesias, @amandacconn, @kaleighrogers and @bioethicsjosie

Violet Blue / Engadget:

Female ASMR video creators have been permanently banned from PayPal and had funds frozen after 8chan harassment campaign; PayPal says it has no anti-ASMR policy — In June, China banned and excised videos of sound effects while claiming to cleanse its internet of pornography.

Discussion: @vextape, @erikaalpert, @reaganwhitakerr, @naked_therapist, @benthomasnz, @ccalmasmr, @dr_teng, @lunchjournals, @sharondubois_, @sharondubois_, @bibliovoreorc, @elfsternberg and @sharondubois_

Music Business Worldwide:

Leaked email to Dubai ad agency shows Spotify plans to launch across the Middle East and North Africa in November with a new regional headquarters in Dubai — Spotify's next major global move is coming soon. — According to a leaked email, the service plans to launch across the Middle East …

Discussion: Gulf News, Variety and RAIN News

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