Layoffs have begun at Penske Media’s The Hollywood Reporter, multiple individuals with knowledge say. At least one digital media writer, J. Clara Chan, has been let go, while another individual with knowledge says at least two more staffers were laid off last week.
On Aug. 31, Nielsen started including out of home viewing in its daily final ratings, which are usually released in the afternoon (or Tuesday morning for Saturdays and Sundays). They also include ratings for cable programs. The “fast national” ratings (overnights) that arrive each morning don’t have either of those. THR will now switch to reporting on the afternoon numbers, which, it says, will provide a better — if still incomplete — snapshot of just how many people watched a given network or cable show the night it aired.
Exclusives
The media industry continues to see widespread cuts as Valence Media slashes jobs across several of its brands, including The Hollywood Reporter, Billboard and Vibe. About a third of the company’s media division was laid off on Tuesday, which amounts to more than 100 job cuts, according to a source familiar with the matter.
Min was responsible for a dramatic turnaround at the magazine, but now she’ll move on to join parent company Eldridge Industries to develop a media investment strategy. Her departure could signal a sale of the magazine or future acquisitions as well. Matthew Belloni will step in to Min’s role.
Zucker Looks To H’wood Trades For Reporter
New CNN boss Jeff Zucker has been looking to raid certain print publications to beef up the network’s talent roster. A source says he’s “reached out to some top reporters in Hollywood to help CNN break more news in that area.”
Guggenheim Partners and Jimmy Finkelstein’s Pluribus Capital Management are looking to sell the company that publishes The Hollywood Reporter and five other well-known magazine titles. The move comes just 15 months after the two investor groups plunked down a reported $70 million for the company, Prometheus Global Media.
