Fred Hornkohl wrote:Go CUBS !!
TruffleShuffle wrote:drew magary resigned. just a bang up job by the private equity brain geniuses who run deadspin.
they said “stick to sports” and as of 8am they have zero stories up about game 7 of the World Series.
Banedon wrote:
Sammy Sofa wrote:Banedon wrote:
longhotsummer wrote:I realize now, any opposing viewpoint, will not be tolerated.
longhotsummer wrote:I realize now, any opposing viewpoint, will not be tolerated.
Here’s a thought experiment. If I:
Purchased a site that was beloved for its passionate and idiosyncratic voice on a variety of issues, then
Immediately and in a tone-deaf way tried to interfere with that editorial voice, and got publicly shamed by the writers and ed staff, then
Overpromised and underdelivered on a significant ad-buy, which I tried to weasel around by
Implementing a universally panned autoplay-with-sound ad strategy, that
Fomented a reader rebellion which embarrassed the management, commercial, AND editorial sides of the house, and led to an absolute tanking of page views per Alexa, then I
Heavy-handedly suppressed all on-site discussion of that boneheaded move, then I
Lost the million-dollar ad buy which precipitated this whole latest disaster, then
Again heavy-handedly interfered with editorial, thus prompting every notable staffer to leave and burn me on the way out, and finally
Nuked the comments to avoid being continually dunked on by the site’s most involved and passionate readers...
Would I get to keep my job? And if I did get to keep my job, what does that say about the board of directors that oversees my work?
A lot has been written over the last few years about just how terrible private equity has been for the media. Newsrooms in cities across the country have been decimated by draconian cuts, while fat cats load up newspapers with debt and profit handsomely. G/O Media is the latest and best example of private equity’s catastrophic influence on journalism.
The whole debacle gets at a larger problem with private equity in media. In theory, private equity is supposed to work like this: A firm buys a struggling business and institutes a series of changes in quick succession; these changes make the business more efficient and profitable; the firm then sells the business for a profit. “That strategy,” The Harvard Business Review’s Felix Barber and Michael Goold wrote a decade ago, “which embodies a combination of business and investment-portfolio management, is at the core of private equity’s success.”
But in practice, particularly in the media, what you get a lot of the time is a version of what you’re getting at G/O: The product suffers, the staff suffers, and business suffers. That is apparently because the default mindset of the corporate class, when it looks across the decrepit media landscape, is that this is an industry that has no rosy long-term outlook—that it is worth nothing but what you can get out of it in the short term.
There’s a justified tendency to treat these corporate raiders as slick and evil and, now, stupid. But when it comes to the health of the media as an industry, well, they’re not totally wrong. This is an industry that used to make scads of money, as Reeves Wiedeman most recently pointed out in his feature on the struggles of Condé Nast; now it is less an industry than an institution, and no one has really figured out how to keep that institution from crumbling to dust.
Banedon wrote:
Banedon wrote:https://drewmagary.kinja.com/this-is-how-it-s-gonna-work-1839505029/
Sammy Sofa wrote:Banedon wrote:https://drewmagary.kinja.com/this-is-how-it-s-gonna-work-1839505029/
No more telling me why my team...what? WHAT?!?!? WHY MY TEAM WHAAAAAAAAAT?!?
longhotsummer wrote:I realize now, any opposing viewpoint, will not be tolerated.
Banedon wrote:lol...guessing this one won't last long.
https://deadspin.com/sports-blogs-ranked-1839529420
UMFan83 wrote:They’ve already lost 1 multi-million dollar ad buy due to angry employees posting stuff.
Users browsing this forum: Google [Bot], The Logan and 5 guests