Top News:
Benjamin Mullin / New York Times:
Sources: The Messenger made ~$3M in revenue in 2023 and told potential investors it had $1.8M in cash on hand at the end of December after losing ~$38M in 2023 — The company, which debuted last year with big plans to disrupt journalism, generated only $3 million in revenue by the end of December.
Discussion:
@royprice and @benmullin
RELATED:
Sara Fischer / Axios:
Sources: conservative media and business execs met with Jimmy Finkelstein at Mar-a-Lago on January 3 to discuss acquiring a 51% stake in The Messenger for $30M — A group of conservative media and business executives met with The Messenger founder Jimmy Finkelstein on Wednesday to discuss acquiring …
Sara Fischer / Axios:
Sources: The Messenger is seeking to raise around $20M amid layoffs and financial struggles; it launched in 2023 after a $50M raise — Digital news start up The Messenger is seeking to raise around $20 million amid layoffs and financial struggles, sources tell Axios.
Andrew Beaujon / Washingtonian:
Sources: Jamie Stockwell, who had been Axios Local executive editor, will oversee Washington Post local coverage, replacing Mike Semel, who has been promoted — Jamie Stockwell previously oversaw Axios Local's expansion to dozens of metro regions. — Jamie Stockwell, who was the executive editor …
RELATED:
Ben Mullin / @benmullin:
Sources: Axios names Holly Moore as Axios Local executive editor, replacing Jamie Stockwell; staff were told local ad revenue rose 40% in 2023 — Scoop: Holly Moore — formerly of USA Today and currently head of local innovation Hub for Axios —named exec ed for local. Jamie Stockwell, current exec editor, leaving for a new gig. Staff told eight cities now have 100,000 (unpaid) subs. Local ad revenue was up 40% last year.
Discussion:
@jmhaigh
The Information:
Sources: OpenAI offered some media firms $1M to $5M per year to license news articles for model training; Apple offers more but wants to use content more widely — OpenAI has offered some media firms as little as between $1 million and $5 million annually to license their news articles …
Sara Fischer / Axios:
Eric Newcomer, founder of the Newcomer newsletter on startups and VCs, says he made $1M+ in 2023 revenue from events and subscriptions and has hired a reporter — Eric Newcomer, the founder and author of Newcomer, an independent newsletter covering startups and venture capital …
Discussion:
Talking Biz News, @ericnewcomer, Newcomer, @ericnewcomer, @maddierenbarger and The Guardian
Om Malik / On my Om:
The decline of Wired, once a magazine that inspired hope in technology's future, illustrates a broader loss of necessary optimism among tech writing communities — On January 2nd, 1993, Wired burst onto the scene, and let me tell you, it transformed the way many of us looked at technology and its impact on our future.
Andrew Marchand / New York Post:
YES and MSG Network partner to launch Gotham Advanced Media and Entertainment, a 50/50 venture that aims to capitalize on their streaming services — YES and MSG Network are partnering on a new venture that eventually could lead to a direct-to-consumer streaming service that offers the Yankees …
Ralph D. Russo / Associated Press:
The NCAA and ESPN announce a $920M, eight-year agreement that will give ESPN rights to 40 championships, including the Division I women's basketball tournament — The NCAA and ESPN announced on Thursday a $920 million, eight-year agreement that will give the network exclusive rights to 40 championships …
Discussion:
Sportico, The Walt Disney Company, The Athletic, USA Today, Sports Business Journal, UPI, @bkoo, @wolfsburgfl, The Wrap, Deadline, Awful Announcing, Axios, @slmandel, Sports Media Watch, @achristovichh, Variety, @ryan_reilly78, The Streamable, Front Office Sports, Bloomberg and Barrett Media
Wall Street Journal:
As Google restricts third-party cookies for 1% of Chrome users, marketers, adtech companies, and publishers say Google has not done enough to prepare the market — Search giant plans to remove a technology seen as critical to the digital-ad industry — Google is going forward …
Discussion:
WWD, MediaPost, Business Insider, BGR, The Drum, Next in Media, Jamie Seltzer on LinkedIn, Curtis Bixel on LinkedIn, Jessica Randazza-Pade on LinkedIn, W Media Research, Brian Mandelbaum on LinkedIn, LifeHacker, Jeff Chasin on LinkedIn, Gizmodo, Ad Age, Press Gazette, The Register, Digiday and Adweek, more at Techmeme »
Jacob Feldman / Sportico:
Marie Donoghue, vice president of global sports video at Amazon's Prime Video and a former top ESPN executive, is leaving the company — Five years after being tapped by Amazon to lead its global sports programming efforts, Marie Donoghue is leaving the company, a spokesperson confirmed.
Discussion:
The Wrap, Variety, Awful Announcing, Barrett Media, @jacobfeldman4 and @andrewmarchand
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