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 ...
I haven't seen it in the waiting room of my dentist's office in years.
Actually, they all did. "Once upon a time", all those news magazines actually reported news impartially, and presented more in-depth coverage of all sides of a reported issue than was possible for daily newspapers. But slowly, they all changed to reporting only one side, and always the "left" side. USN&WR was the last to succumb, but it eventually did. I haven't opened one since (even in doctors waiting rooms).
“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.”
Fine with me! Saves a few trees!
They are in trouble because they went beyond fake news and told fake number of readers to the advertisers.
The advertisers never objected to Newsweak tolling US fake stuff. But these same advertisers were upset when they discovered that Newsweak was telling them fake stuff also.
Nobody wants to pay good money for propaganda and lies.
Leftist propaganda.
Who was it that bought Newsweak for a dollar?
No great loss for the investor(s).
LOL.
5.56mm
John Meachem did a hell of a Job at the Helm worshiping Obama...the Messiah was one cover.
Or turn it into a coloring book for your retarded liberal audiences.
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