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Vice Media Names New Co-CEOs, Prepares for Acquisition

“Hozefa and Bruce are incredibly experienced and deeply talented executives who enjoy the full trust of Vice’s leadership team…”

Maddy Troy

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https://variety.com

Today, Vice Media Group, the parent company of Vice News, Motherboard, Refinery29, and Vice TV, has named Bruce Dixon and Hozefa Lokhandwala co-CEOS, succeeding Nancy Dubuc, who left as CEO on Friday.

Lokhandwala has been the chief strategy officer at Vice since 2018, and Dixon has been the company’s chief financial officer since 2021.

“Hozefa and Bruce are incredibly experienced and deeply talented executives who enjoy the full trust of Vice’s leadership team and board and are the right individuals to lead Vice forward,” Vice’s board said in a statement Monday. 

“With their combined 10 years of experience at Vice, and their long commitment to the company’s brand, mission, and operations, they’re perfectly positioned to guide the company through this next important stage of growth.” 

The co-CEOs step into the forefront as the media company grapples with financial issues and prepares for a sale.

Vice’s board announced a process to sell last month. The board is reportedly considering an acquisition of the whole company, a strategic recapitalization, or other transactions involving individual assets.

Vice recently secured a $30 million loan from Fortress Group to help it pay off millions of dollars it owes to vendors and advisers, according to The Wall Street Journal’s reporting earlier this month, some bills have not been paid for more than six months.

The New York Times reported that Vice was still unprofitable beginning in 2023 and that it would likely lay off staff this year, joining the likes of digital publishers BuzzFeed, Bustle Digital Group, and Vox Media. Vice generated $600 million last year — $100 million short of its $700 million target. 

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Media Business

MIW Organization Welcomes Two New Board Members

“They are each accomplished and inspiring professionals who are generously giving back to the betterment of women in the industry, and the industry as a whole.”

Maddy Troy

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The Mentoring and Inspiring Women in Radio (MIW) organization has expanded its Board of Directors with the addition of Lori Flowers, who manages integrated marketing and projects for Radio One, and Jenna Miller, an integrated sales manager for Cox Media Group.

Flowers is responsible for creating marketing opportunities at Radio One and Reach Media, the network division. She has previously worked in various cities, including Phoenix, West Palm Beach, Miami, and Washington, DC. She most recently served as Marketing Director at Radio One Atlanta.

Flowers was selected for MIW’s 2008 Mildred Carter Mentorship Program and has completed coursework in leadership development, executive leadership development, and broadcast leadership training offered by the National Association of Broadcasters.

Miller oversees sales efforts for two of Cox Media Group Tampa’s music stations and manages CMG Health Marketing and CMG Research. She started her radio career in Detroit in 1998 and has held senior account executive positions for iHeartMedia and Audacy in New York.

Miller completed Radio Advertising Bureau’s Rising Through The Ranks, a leadership program sponsored by RAB, BMI, and MIW, and was one of three national mentorship awardees for MIW’s 2021 Mildred Carter Mentorship Program. She volunteered to join the MIW Mentoring Committee in 2022, representing the Mildred Carter Mentees and continues to serve in that role.

“Both Lori and Jenna share a history with MIW, starting as mentees and now joining us as Board members,” MIW Board President Ruth Presslaff said in a release. “They are each accomplished and inspiring professionals who are generously giving back to the betterment of women in the industry, and the industry as a whole.  We welcome them wholeheartedly and are thankful for their participation.”

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Media Business

Audacy Promotes Jenna Weiss-Berman to Executive Vice President of Podcasts

“We have a real opportunity to build a cohesive podcast brand that is greater than the sum of its parts, and I look forward to all that’s ahead.”

Barrett News Media

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Audacy has announced a promotion for Jenna Weiss-Berman to Executive Vice President of Podcasts for the company.

With the new role and title, Weiss-Berman will report to Auadacy’s Chief Digital Officer and President of Podcast and Streaming J.D. Crowley.

Weiss-Berman will oversee Audacy’s podcast network and studios, which include Cadence13 and Pineapple Street Studios. She’ll also work with the company’s sports and news programming leaders to develop and grow original podcasts for the company’s 2400Sports studios and the 28 local newsrooms across the nation.

“I’m excited to help bring together the world-class podcast businesses that already exist under the Audacy umbrella,” said Weiss-Berman. “We have a real opportunity to build a cohesive podcast brand that is greater than the sum of its parts, and I look forward to all that’s ahead.”

Previously, Weiss-Berman was the head of audio for BuzzFeed before joining Pineapple Street Studios, which Audacy acquired in 2019.

“As we commit to accelerating our digital growth and enhancing performance, we’re thrilled to expand Jenna’s role to further unify and streamline our content and business efforts across our leading podcast portfolio, enabling even more rapid development of new and original IP and better leveraging our talent across the entire Audacy portfolio,” said Crowley.

“Jenna’s strong leadership and deep industry relationships will propel us forward on our mission to be a leading partner of audio creators while super-serving listeners of all backgrounds and interests and enabling our sales teams to better serve our customers and partners with unique and compelling podcast opportunities.”

Weiss-Bermann steps into the role vacated by the departure of Chris Corcoran.

“His leadership, passion, and dedication are the creative force that successfully launched and built Cadence13 into the business that it is today, while also helping to position Audacy as a leading podcast company,” Crowley said of Corcoran. “I wish him continued success in his future endeavors.”

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Media Business

Quu Launches New Dashboard Ad Product

“We’re taking radio to new levels of engagement, enabling advertisers to reach a captive audience in a way that has never been possible before.”

Maddy Troy

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Radio technology company Quu has launched a new product called Content Partnership, which integrates visual advertising directly into radio programming. The new tech allows radio stations to display messages and images on vehicle dashboards for 30 seconds while a song or other programming is playing.

The process works as follows: when a song starts on a Quu-enabled station, the vehicle dashboard shows the song title, artist, and cover art for the first 90 seconds. Afterward, the visual switches to an ad for one of the station’s content partners for 30 seconds, displaying the advertiser’s name and a brief message. The display then reverts to the song title and artist for the remainder of the song, with the station name always present.

Quu positions the product as a new revenue opportunity that provides a broad reach through an exclusive ad unit. Generally, only two content partners will run at a time, with a content partner’s ad appearing on screen 4,000 times a month, resulting in 2,000 minutes of screen time per month, according to Inside Radio.

“With the Content Partnership, we’re taking radio to new levels of engagement, enabling advertisers to reach a captive audience in a way that has never been possible before,” said Quu CEO Steve Newberry.

Some of the first audio brands to adopt Content Partnership are Audacy, Beasley Media Group, Radio FM Fargo.

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