Posted on 03/09/2018 7:25:51 AM PST by EdnaMode
Two weeks ago, Newsweek Media Group Chief Content Officer Dayan Candappa said the company had just five weeks to turn around its business, or it might have to shutter for good.
“I wish I could varnish this, it would be an easier conversation to have,” Candappa said in audio of the meeting obtained by The Daily Beast. “I think we can pull out of this, but we have to execute with the precision of a brain surgeon. Really, we have to do everything right.”
In the private conversation with top editors on Feb. 21, lasting nearly 90 minutes, the CCO acknowledged a litany of what he described as “significant” financial problems the company faced.
An office raid by the Manhattan district attorney amid an investigation into the company’s finances and ties to mysterious church-affiliated Olivet University have created a number of embarrassing headlines for the company, as had newly surfaced allegations of workplace harassment by Candappa when he was employed by Reuters (an internal probe at Newsweek cleared him).
In the secretly recorded meeting, Candappa claimed that Newsweek’s major financial problems were the result of a February BuzzFeed report showing the media group had committed digital advertising fraud. More immediately troubling, the CCO said the report had spooked advertisers, and that a number of advertising exchanges had subsequently cut off IBT and Newsweek.
(Excerpt) Read more at thedailybeast.com ...
Newsweek as a brain surgeon. Well ... no.
I have it! A sharp turn to the left!
“Large fries and a discharge order on register 4”
CIS
CEO Dillusion Syndrone
It is horrible, does your company suffer from CIS?
HR Human Resources department will just say, erroneously, new hires just need better people skills.
Another company destroyed by the HR Dept.
Didn’t they already sell for $1 ?
Why pay to get lied to when so many will lie to you for free?
Even Geoge Soros, Carlos Slim and Tom Steyer won’t touch them with a ten foot pole,
They’d have more liabilities than assets and Newsweek is a lousy investment.
They obviously need to hate harder.
LOL!
Amazingly oblivious.
I was just thinking last time I saw Time was on dentist office
I think they have mostly free subscriptions to schools, medical and dental and vision offices, car repair shops, etc. Gives them captive audiences, like CNN does with airport and medical office TV feeds.
I think he's too late. Years too late.
Buy purchasing zillions of $$$ of past annual losses the new owner gets to offset profits until the 15 years of losses are all used up
What profits?....................
I think the last time I picked up a Newsweak was at Dentist office around 2008. If you were talking about regularly reading it? Not since the mid-1990s.
I can remember as a kid (1970s) that people used talk about articles they read in the magazine....quoting such-and-such article. I haven’t seen that type of enthusiasm over since the late 1990s.
I just don’t see it surviving more than five more years.
Of course, that would never include being truly fair and objective.
People know when someone is not being straight with them.
They think we are real fools.
And they think we would actually pay good money to get stupidly scammed.
Scams go in the trash.
Start backing our great President and report on his accomplishments and you may just sell again. What a novel idea, start telling the TRUTH.
I sure don’t and do not know anybody who does.
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