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Keith Olbermann: American Journalism ‘Re-Invented’ During Trump Presidency

“The overwriting principle used to be: get a scoop, get in the paper or on the air as soon as possible because that’s your job, and that’s your only actual value to society as well.”

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During his Countdown with Keith Olbermann podcast Friday, the former cable news host slammed a recent opinion from Politico’s John Harris that Americans need more journalists like Maggie Haberman, among others.

Olbermann has been critical of Haberman’s decision to withhold important facts in relation to the former President Donald Trump and save them for her upcoming book rather than report them in The New York Times.

“What Harris does not understand is American ‘journalism’ did re-invent itself,” Olbermann said. “The overwriting principle used to be: get a scoop, get in the paper or on the air as soon as possible because that’s your job, and that’s your only actual value to society as well. It is also — and I speak as somebody who broke a lot of sports news including the Wayne Gretzky trade and Michael Jordan’s first dalliance with a comeback — it is the joy of doing the journalism. You have the story, and nobody else does!”

He continued by saying Harris and Haberman believe the point of American journalism is not to inform the public but rather how much money you can make in the process.

Haberman’s book “Confidence Man: The Making of Donald Trump and the Breaking of America” is expected to hit bookshelves on Tuesday, October 4th.

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Media Business

James O’Keefe’s Project Veritas Hit With Layoffs

Layoffs continue to hit the media industry as James O’Keefe announced the Project Veritas dismissals in a Nov. 28 internal email.

Eduardo Razo

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Layoffs continue to hit the media industry as James O’Keefe announced the Project Veritas dismissals in a Nov. 28 internal email reviewed by The Daily Beast.

Approximately six people will be laid off, according to a person familiar with the plan and the report cites that it’s not transparent how many people work for Project Veritas, but from the nonprofit’s tax returns from 2019—the most recent available—list 45 employees.

Laying off six employees would mean more than 10 percent of the nonprofit’s staff were let go. Nonetheless, Project Veritas didn’t confirm the numbers to The Daily Beast

“As a part of our annual review process, we assess the performance of our organization and manage headcount to focus on attracting, maintaining and hiring the best talent available,” the group stated to The Daily Beast.

 “We’re always looking to hire the best people to carry out the gold standard of investigative journalism.”

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Media Business

BuzzFeed Axes 12 Percent of Its Workforce Due to Costs Cuts

BuzzFeed is axing 12 percent of its workforce, or around 180 staffers, as the company cites costs cuts and becomes the latest media outlet to lay off workers.

Eduardo Razo

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Media outlets are following through with layoffs or at least considering job cuts to ensure particular budgets, and the latest BuzzFeed is axing 12 percent of its workforce or around 180 staffers (h/t Variety). 

The reason for BuzzFeed’s decision to axe jobs is due to cut costs as the digital media company faces headwinds, including an ad-spending withdrawal and the culmination of its integration of Complex Media.

“In order for BuzzFeed to weather an economic downturn that I believe will extend well into 2023, we must adapt, invest in our strategy to serve our audience best, and readjust our cost structure,” CEO Jonah Peretti wrote in a memo to employees about the job cuts.

The bulk of the company’s layoffs happened on Dec. 6, with only a few cases of severance extending into 2023

BuzzFeed reported a 15 percent boost in revenue, to $103.7 million, boosted by Complex Networks for the third quarter of 2022. However, its net loss increased to $27.0 million compared with a net loss of $3.6 million in the year-earlier period. 

“It is clear that advertisers are continuing to exercise caution around spending as a function of strong macroeconomic headwinds,” CFO Felicia DellaFortuna said on the earnings call.

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Media Business

GE Purchases Every Ad In The New York Times

GE included more than 22 full-page color ads in the paper of record’s print edition Tuesday.

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For the first time in its history, only one advertiser is shown in today’s edition of The New York Times.

GE included more than 22 full-page color ads in the paper of record’s print edition Tuesday. The company is being split into three separate publicly traded companies, GE HealthCare, GE Aerospace, and GE Vernova, an energy division.

The first investor day, according to Sara Fischer of Axios, is scheduled for Thursday.

In addition to all of the newspaper’s advertising, GE also purchased much of the real estate on the outlet’s website, and also secured space in the company’s popular The Daily podcast.

Fischer’s report says GE spent “seven-figures” in the campaign.

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