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| << February26, 2008 - Hi, It's Ed. |
February29, 2008 - Thursday Ed >> |
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******* BTW, Ed doesn't endorse the random non-Ed advertisement you see at the top of the newsletter. It's just what happens when you use a free e-newsletter service.
******* Switch of CosmoGirl! founding publisher (1999) Kristine Welker to Hearst Magazines Digital Media vice president of sales and marketing (min, February 18, 2008) led HM executive vp/chief marketing officer/publishing director Michael Clinton to hire Domino founding associate publisher (2004) Vicki Wellington. "I've been watching Vicki's professional development since her Rolling Stone days [early 1990s], when I was publisher of GQ, and I was impressed with her abilities," says Clinton. "Then, I saw her in action as Self associate publisher, when I was Cond? Nast executive vp [1994-1997], which only reinforced my opinion of her. We've talked over the years, and I was always seeking to find the right position for her [at Hearst]. She was ready to be a publisher and [with CG!] we had a great spot. I'm very excited to have Vicki join the Hearst publisher ranks." MORE ONLINE
2. AP
Maxim magazine has apologized for publishing a negative review of the Black Crowes' new album by a writer who hadn't listened to the whole CD. The review in Maxim's March issue gives the Crowes' "Warpaint" a rating of two-and-a-half stars out of five. The band posted an exasperated statement on its Web site last week saying the Maxim writer hadn't heard the entire album because advance copies weren't available. The Crowes' manager, Pete Angelus, said the magazine explained that its review was an "educated guess." Maxim editorial director James Kaminsky responded Tuesday with this statement: "It is Maxim's editorial policy to assign star ratings only to those albums that have been heard in their entirety. Unfortunately, that policy was not followed in the March 2008 issue of our magazine and we apologize to our readers." MORE ONLINE
3. Folio
Loss of advertising dollars has claimed another victim. The owners of Minneapolis-based monthly magazine the Rake announced Monday that the March issue would be its last. In a meeting with staffers, publisher Tom Bartel cited a lack of advertising revenue and increasing costs of printing and production as the reasons behind the decision. "There is nothing wrong with The Rake other than the bottom line," he wrote in a post on the magazine's Web site. The Rake will continue to publish online with its "Secrets of the Day" e-mails, event calendar, searchable restaurant database and select blogs. Bartel could not immediately be reached for comment MORE ONLINE
4. WWD
At least one major media conglomerate has ruled itself out of the running to buy Reed Business Information, the Reed Elsevier division that puts out Variety, Publishers Weekly and Broadcasting & Cable, among others. A spokeswoman for Cond? Nast Publications (which also owns WWD) said Tuesday that the company isn't interested. Which means an already small list got even smaller — many media analysts had tipped Cond? Nast as a strong contender — and further raises the question as to why Reed Elsevier is selling now. For one, the Anglo-Dutch company won't see the kind of money it could have garnered a year ago. The magazines could sell for between $2 billion and $2.5 billion, according to analysts, but could have pocketed as much as $3.5 billion if they had approached the market before the economy began to buckle, said Reed Phillips, of investment firm Desilva + Phillips. Second, during the next year or so, the credit crunch will severely limit the possibility a private equity player will swoop in, since it's going to be harder than ever to use the amount of debt they typically like to on a deal of this size. Noted another analyst, "For the next year, deals above $2 billion are few and far between." Phillips said that if larger private equity players become interested, they may look for a group deal. Analysts pointed to Permira, Apax Partners, Court Square Ventures, Providence Equity and the Carlyle Group as those who might scan the books. NEW GIRL: Vicki Wellington is apparently more partial to Bonnie Bell lipstick and Ugg boots than to curtains and flooring — she is leaving her post as associate publisher at Domino to become publisher of CosmoGirl. Wellington succeeds Kristine Welker, who last week was promoted to vice president of sales and marketing of Hearst Magazines Digital Media. Wellington has been with Domino since its launch, but leaves as the title posted a 3.7 percent dip in ad pages for 2007, to 725 pages, according to Publishers Information Bureau. Prior to her time at Domino, Wellington spent 10 years at Self, first as advertising director and then as associate publisher, and also worked at Rolling Stone and Ms. She takes her new post March 10. MORE ONLINE
5. Portfolio
The founder of the weekly city magazine chain has hired an investment bank, San Francisco's Houlihan Lokey, to raise $40 million to $60 million in capital through the sale of a minority stake in his company. According to three sources, Elliott intends to use the money to expand the Time Out brand to six new American cities: Los Angeles, Dallas, Boston, San Francisco, Seattle and Miami. (Right now, its only U.S. editions are New York and Chicago.) Because the new editions would be web-only, at least at first, the target markets don't have to meet Time Out's usual criteria of a well-defined downtown area and a large base of mass-transit commuters who frequently pass by newsstands. Elliott is said to be talking to a variety of potential strategic and financial investors. Gruner & Jahr, which sold off its American magazine holdings in 2005, is still in the mix, while IAC/InterActive Corp. has dropped out on the ground that it generally avoids minority investments. Elliott is said to be pushing to close the deal and launch the new editions within the next six months. Alison Tocci, Time Out's president and group publisher, didn't return a call for comment. MORE ONLINE
6. Palm Beach Post
The widow of publishing heir Randolph Hearst saw her 52-room mansion on Manalapan's beach sold along with 70 other properties in a foreclosure auction Monday at the Palm Beach County Courthouse. The 28,000-square-foot Villa Venezia, owned by Veronica Hearst and once listed for $27 million through a Realtor, went for $22 million within five minutes of being put to bids for $100. The buyer is New Stream Capital, the plaintiff in the foreclosure action. It lent slightly more than $40 million during the past two years to Veronica Hearst, stepmother of famous kidnapping victim Patty Hearst. Her husband, Randolph "Randy" Hearst, was the last of the five sons of publishing magnate William Randolph Hearst. MORE ONLINE
************ JOBS ...that Marketing Technology Solutions is seeking a talented editorial assistant/summer intern to join the company's content team in Jersey City, NJ. The position is full-time and paid, but temporary. It's an excellent opportunity to gain both bylines and hands-on experience in a fast-paced interactive-publishing environment. Responsibilities include: Write and proofread original site content, including feature articles, following the MTS Editorial Style Guide. Assist in writing and proofreading marketing materials as needed, including newsletters and promotional copy. Assist in creating and testing user-generated content features, such as blogs and forums, as needed. The ideal candidate will have: Strong writing, proofreading, Internet production, communication, multitasking, and organizational skills. Keen interest in consumer health and/or women's lifestyle content. Please e-mail your resume, cover letter and writing samples to the Human Resources Director at hkorossy@mtscorp.com. For more info, visit http://www.mtscorp.com/careers_editorial_assistant_intern.html (OK to mention Ed) For even more jobs, go to http://www.ed2010.com/jobs/whisperjobs or click here. INTERNSHIPS ...that InStyle is seeking 3 full-time paid interns for our beauty, home design, and fashion departments. We want to fill these internships immediately. All candidates must have graduated college in 2007 or 2006; should have a degree in a related field; need to have completed 1 prior internship. Must be available to work full-time. Must provide references. Please send your resume to delora_jones@instylemag.com and candidates must meet all requirements to be considered. (OK to mention Ed) For even more internships, go to http://www.ed2010.com/ed-campus/internships/list or click here.
********* Whisper jobs or internships to share? Send 'em to whispers@ed2010.com. Ed'll keep it anonymous for you. Blogalicious! Catch up with Ed's Guy on the Hunt and Ed’s Determined Freelancer at ed2010guy.blogspot.com and www.ed2010.com/boards/section/ed-campus How to unsubscribe from this newsletter: How to subscribe: |
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February29, 2008 - Thursday Ed >> |
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