Latest in digital media

Condé Nast announced a record 250 new and returning originals across digital, streaming, social and audio platforms as well as a stepped-up investment in live events. Addressing media buyers at a NewFronts presentation at The Shed in New York’s Hudson Yards, execs said they are leaning into livestreams after what they…

Kevin Hart’s two entertainment businesses, Hartbeat Productions and Laugh Out Loud, are merging into a single comedy-centered entity called Hartbeat. Along with the combination, the company is also announcing a $100 million investment by private equity firm Abry Partners. Nicolas Massard, a partner at Abry, will join…

UPDATED with official confirmation. The New York Times Co. has confirmed its acquisition of digital sports outlet The Athletic for $550 million in cash. Founded in 2016, The Athletic has amassed 1.2 million subscriptions by looking to leverage the expertise of editorial staffers cut loose by faltering local newspapers…

UPDATED with deal official: Vox Media has inked a deal to acquire Group Nine, a leading collection of multi-platform media brands including The Dodo, NowThis, PopSugar, Thrillist, and Seeker. The portfolio will join Vox Media brands including SB Nation, New York Magazine, The Verge, Vox, Eater, The Cut, Vulture…

Embattled digital firm Ozy Media says it is shutting down, just days after a New York Times column exposed a range of dubious and even potentially criminal behavior by its executives. Since the column by Ben Smith was published online last Sunday, a drip-drip series of events has ensued, with board chairman Marc Lasry…

Vice Media, which went through a round of major layoffs in May 2020, is shedding about 20 more positions as it prioritizes video over text in its editorial operations outside of Vice News. The company’s digital group and Refinery29, which Vice acquired in 2019, are the divisions hit by the cuts, according to a person…

Forbes Global Media, the business information brand that started with a 104-year-old magazine, is going public by merging with a SPAC — or special purpose acquisition company — in a deal that values the company at $630 million. The news hits amid a wave of digital media deals including a major one earlier today when…

Axios and The Athletic have held serious discussions in recent days about a merger of their digital operations, the Wall Street Journal reported. No financial terms were revealed in the account of the talks, but part of the talks is said to include a scenario in which the companies would anchor a portfolio of digital…

Vice Media Group has announced the closing of its Refinery29 acquisition and changes to its top management team. The Vice-Refinery deal, worth a reported $400 million, is one of several examples lately of consolidation in the digital media sector, as Facebook and Google continue to pose a stiff challenge in the…

Many of those affected by BuzzFeed’s latest round of layoffs have been taking to Twitter this morning to share the unhappy news. The company confirmed Wednesday it planned to lay off 15% of its workforce, or about 200 people, including many news staffers. In a memo to employees on Wednesday, co-founder and CEO Jonah Pe…

Jack Ma, the former English teacher who built one of the world’s most influential e-commerce businesses, said he will step down as Alibaba’s executive chairman next week to focus on philanthropy, the New York Times reported. Alibaba transformed how the Chinese people shop and make purchases, and made Ma the richest…

Digital media company Vox Media said it would lay off about 50 employees at three of its publications and in its video team, citing “industry changes.” Chief Executive Jim Bankoff announced the job cuts, which amount to 5% of the company’s workforce, in a memo to staff today. The job losses hit its Racked, Curbed and…