Major Executive Changes at Condé Nast (FishbowlNY)
Big changes have just hit Condé Nast. Editorial director Tom Wallace and COO and CFO John Bellando are both leaving the company, while David Geithner — a former veteran of Time Inc. — is joining as CFO. Capital New York Wallace, who had previously served as editor-in-chief of Condé Nast Traveler, had been editorial director since 2005, helping to craft a consistent brand across the company’s many glossies and its many special editions. WWD / Memo Pad Several other major management changes were revealed, including the expansion of responsibilities of Robert A. Sauerberg Jr., president of Condé Nast. According to a memo, Sauerberg “will assume a leading role in all revenue generation activities, including taking direct responsibility for the Condé Nast Media Group, as well as brand revenue growth.” This will expand his areas of responsibility beyond the management of digital, technology, consumer marketing, business development, corporate administration and Condé Nast Entertainment. THR Bellando joined the company’s executive ranks in 1999. Geithner had spent more than two decades at Time Inc. prior to the appointment at Condé Nast. Most recently, Geithner served as the EVP and president of Time Inc.’s Entertainment Group, and exited the company earlier this year as part of the reorganization prior to the spinoff of the publisher from Time Warner. Time Inc. chairman and CEO Joe Ripp announced Geithner’s departure in a memo on Feb. 4, singling out his contributions to People, Entertainment Weekly and InStyle. WSJ The changes come as Condé Nast, a unit of Advance Publications Inc., is pushing to capture more digital related advertising dollars. Earlier this month, Condé Nast launched a new online video hub called The Scene, intended to serve as a home for all its video channels, including original programming such as The Single Life and Strictly Ballet.
David Gregory’s Time on Meet The Press Is Almost Up (New York Post / Page Six)
David Gregory’s time is nearly up at Meet The Press, sources told Page Six, and he could be replaced as moderator of the nation’s longest-running TV show soon after the November midterm elections. FishbowlDC A source from NBC reportedly said, “The discussion is whether to make a change before or after the midterm elections. Just after the midterms would give the new moderator time to settle in.” Mediaite An NBC spokesperson quoted in the story called the ousting of Gregory “false rumors.” Over the past year, Gregory has been subject to plenty of negative press for his MTP performance and for insider stories about his work reputation. HuffPost The gossip column pointed to Chuck Todd as the mostly likely person to replace Gregory. The show has been stuck in third place in the ratings for so long that it’s hardly newsworthy anymore. Gregory has had to personally deny reports that NBC hired a psychological consultant to analyze him.
Jon Stewart Launches Kickstarter to Buy CNN (TVNewser)
The Daily Show has launched a campaign to crowd-fund the acquisition of CNN, dubbed “Let’s Buy CNN.” LostRemote On his show Tuesday, Stewart turned his attention to the news that Rupert Murdoch is reportedly looking to purchase Time Warner for $80 billion. Murdoch owns Fox, which means that should he acquire Time Warner, CNN would be divested. “It wouldn’t come cheap, though, with analysts saying the network would be worth about $10 billion on the open market,” Stewart said. “It’s a lot of money for anyone, but not a lot of money for everyone. Which is why tonight we’re starting our Kickstarter campaign to buy CNN.” Deadline Hollywood According to the campaign, a mere $10 contribution gets your photo in an on-screen “21 box” of talking heads. For $15,000 it’ll be just you and Carol Costello in a “2 box”, with 5 minutes of freestyling. And for $5 million, CNN will initiate a 24-hour, two-week hunt for your lost car keys. THR / The Live Feed The site mimics a Kickstarter page, though without allowing users to actually contribute money toward the goal. The actual Kickstarter.com does not feature Stewart’s CNN campaign.
CBS to Keep Colbert’s Late Show in New York (Variety)
CBS’ Late Show will remain in New York at the Ed Sullivan Theater with Stephen Colbert takes over hosting of the show next year, under an agreement announced on Wednesday by the network’s CEO Leslie Moonves and New York governor Andrew Cuomo. THR / The Live Feed The timing of Colbert’s transition to Late Show is still up the in air, with Letterman departing sometime in 2015, but his last broadcast with Comedy Central’s Colbert Report comes in December. Capital New York The deal announced Wednesday includes $11 million in tax credits, spread over five years, as well as a grant worth up to $5 million for renovations at the Ed Sullivan Theater.
YouTube Music’s Head Quits, A Setback to Paid Service (WSJ / Digits)
The head of YouTube’s effort to launch a music subscription service is leaving, marking yet another hurdle for the long-delayed project. Chris LaRosa, YouTube’s product manager in charge of music, will be leaving Google Friday to join a startup. A YouTube spokesman confirmed LaRosa’s departure but didn’t say which startup he would be joining. SocialTimes LaRosa has been with Google since 2007, and worked on YouTube for more than four years. Variety LaRosa has been a key part of building YouTube’s music business, responsible for working with record labels and leading the deal to have YouTube video metrics incorporated into the Billboard Hot 100 chart last year. The startup he is joining is not in the music industry, according to the source. YouTube plans to launch the paid-music service within the next few months, which is being designed to provide streaming and offline access to songs across multiple devices. It will integrated with Google Play Music All Access, the $10 monthly service introduced last year, according to sources familiar with the plans.
Facebook Has 1.32 Billion Monthly Active Users, 1.07 Billion on Mobile (AllFacebook)
Facebook reported 1.32 billion monthly active users as of June 30 as part of its second-quarter financial results, up from 1.276 billion at the end of the first quarter of this year, and from 1.115 billion at the end of the year-ago period. Mobile monthly active users were 1.07 billion, up slightly from 1.008 billion in the previous quarter, and up dramatically from 819 million in the second quarter of 2013. THR Facebook shares were trading up more than 5 percent during after-hours trading Wednesday as a result of the company’s strong second quarter results. The Palo Alto-based social network reported that quarterly revenue grew 61 percent year-over-year to $2.91 billion. The company also reported adjusted earnings of 42 cents per share, up from 19 cents per share for the same period last year. Mashable Total ad revenue for the quarter hit $2.68 billion, a 67 percent increase year-over-year. Mobile ads, once thought to be a weak point for Facebook after its IPO, now account for 62 percent of ad revenue.
Chernin, AT&T Set to Buy Control of Fullscreen YouTube Network (Re/code)
Fullscreen, the YouTube network that has been talking to prospective buyers for months, is ready to make a deal. Sources familiar with the company say it is finalizing a deal to sell a majority stake to Otter Media, the joint venture between AT&T and the Chernin Group. GigaOM The deal would reportedly value Fullscreen between $200 and $300 million. Fullscreen is a one of a number of so-called multichannel networks on YouTube, and clocks more than 3.5 billion views every month across its channels. The company’s YouTube talent includes Grace Helbig, Shane Dawson, the Fine Brothers and Michael Buckley.
Death Sentence Given in AP Photographer’s Killing (Associated Press / The Big Story)
A Kabul court announced Wednesday that the Afghan police officer charged with killing Associated Press photographer Anja Niedringhaus and wounding veteran AP correspondent Kathy Gannon has been convicted and sentenced to death. Poynter / MediaWire Police commander Naqibullah, who goes by one name, was given an additional sentence of four years for wounding Gannon. Naqibullah surrendered shortly after the slaying. The verdict is reportedly subject to several stages of review, and the president of Afghanistan must greenlight any execution orders.
The Man Booker Longlist Released (GalleyCat)
The Man Booker longlist has been revealed for 2014. The shortlist will be revealed on Sept. 9 and the winner announced on Oct. 14. NYT Karen Joy Fowler and Joshua Ferris are among five Americans who have made it onto the longlist of the Man Booker Prize, which for the first time is open to writers from beyond Britain, Ireland and the Commonwealth. The other Americans nominated are Siri Hustvedt, Richard Powers and Joseph O’Neill, an Irish-born writer now living in New York.
CNN’s Crossfire Is Partnering With The Root (TVNewser)
CNN’s Crossfire is partnering with The Root, an online news source for African American influencers. The podcast, which premiered Wednesday, is moderated by The Root’s Jenée Desmond-Harris and features Crossfire hosts Newt Gingrich and Van Jones.
Former Olympic Runner Sebastian Coe Leads Race for Role as BBC Topper (Variety)
Former Olympic runner Sebastian Coe is leading the race for the top job at the BBC as his biggest rival is scratched from the running. The five-name shortlist for the role of chair of the BBC Trust, the broadcaster’s governing body, has excluded the leading BBC Trust insider, Diane Coyle. Coyle, an economist and former journalist, took the reins at the Trust after former chair, Chris Patten, unexpectedly quit in May due to health concerns. However, she has told co-workers that she has not made the interview shortlist, which is compiled by the Conservative-Liberal Democrat coalition government.
Anthony Scaramucci Expected to Join FBN as Contributor (TVNewser)
Hedge fund manager, author, political donor and current CNBC contributor Anthony Scaramucci is expected to join Fox Business Network as a contributor. The move will reunite “The Mooch” with Maria Bartiromo. Earlier this year, Scaramucci’s SkyBridge Capital acquired the rights to the finance TV show Wall Street Week and hired former CNBCers Susan Krakower and Raymond Borelli to oversee its revival.
Meghan McCain Confirms She’s Not Joining The View (Mediaite)
Meghan McCain, daughter of Sen. John McCain and co-host of Pivot’s TakePart Live, is not joining The View, according to a new interview. “I am not joining,” McCain told the website Refinery29 as she showed them around her new apartment in Los Angeles.
Maria Russo Rejoins NYT (FishbowlNY)
After a long run in Los Angeles, veteran journalist and editor Maria Russo is headed back to New York City. Starting Aug. 4, she will be the children’s book editor for The New York Times Book Review.
Putin Signs Law With Potential to Censor Facebook, Twitter in Russia (Mashable)
In a move that could have major implications for social networking sites like Twitter and Facebook, Russian President Vladimir Putin signed a law Tuesday strengthening regulations on Internet data storage. Starting in 2016, the new law will require Internet operators to store Russian user data in centers within the country.