The coronavirus pandemic affected many newspapers as the majority saw advertisers pull advertisements, resulting in layoffs and furloughs. However, media outlets decided to withhold financial figures lost due to the pandemic.
Nonetheless, The Wrap reports one of the most prominent newspapers in the United States, The Los Angeles Times, and its sister paper, the San Diego Union-Tribune, lost “north of $50 million” of revenue in 2020.
Furthermore, executives at the California Times, the parent company for both newspapers, told staff that although most of the financial hits came from the newspaper advertising, other aspects such as digital advertising took hits financially.
This week, the California Times recently received a $10 million Paycheck Protection Program (PPP) loan for staff-related expenses after losing ad revenue during the pandemic.
California Times President Chris Argentieri stated that they would use this loan for employee-related costs, including payroll and employee benefits, as they try to recover from the financial blow they were dealt last year.
Cenk Uygur: No Legislative Action Will Follow After Uvalde Shooting
“Democrats are not holding vote on gun control because they want to use the sympathy for the dead kids in Texas to get votes,” Uygur tweeted.
Details regarding the mass shooting at an elementary school in Texas that left 19 children and two adults dead continue to trickle out.
Although the information is graphic and has left the country reflecting, Young Turks founder Cenk Uygur doesn’t believe any legislative action will follow.
“Democrats are not holding vote on gun control because they want to use the sympathy for the dead kids in Texas to get votes,” Uygur tweeted. “They’re worried that if they hold vote on gun control, Republicans will use that against their beloved moderate Democrats. Who can stomach these cowards?”
Uygur even lashed out at the “mainstream media,” foreshadowing outlets and commentators would explain the “strategy” of non-action in the wake of the shooting.
“This is when mainstream media will administer a heavy dose of tranquilizing drug of gradualism,” Uygur added on Twitter. “They’ll write articles about how strategic it is for Democrats to do nothing and Republicans to resist them. They’ll tell you why it’s so smart to do nothing until you’re back asleep.”
Spotify to Allow Political Ads After Two-Year Hiatus
The streaming giant initially paused political ads in 2020, and the decision only impacted the United States, the only country Spotify sold the ads.
Following a two-year break, Spotify is relaunching political ads on its platform. The streaming giant initially paused political ads in 2020, and the decision only impacted the United States, the only country Spotify sold the ads.
When Spotify mentioned a lack of resources needed to confirm and examine the ads, the company ceased advertising. However, two years later, as the midterm elections ramp up, the platform has done a 180.
“Following our pause of political ads in early 2020, we have spent the past two years strengthening and enhancing our processes, systems, and tools to responsibly validate and review this content,” a Spotify spokesperson said to Protocol.
The report adds that the political ads will only be featured in podcasts and won’t yet be added to the ad-streaming music feature. Spotify promises political advertisers the capability to target niche audiences and tap into AI-driven “contextual targeting,” allowing advertisers to place ads in podcasts when debating issues appropriate to their target audiences.
Furthermore, the story didn’t include information regarding how podcast hosts will feel having political ads play during their program.
Report: Layoffs of CNN+ Staffers Has Begun
Approximately 23 staffers in CNN’s Hudson Yards offices were notified that their positions were being eliminated.
It’s been nearly a month since CNN decided to pull the plug on its streaming service CNN+ and while many were hired to help with the production of the various shows, now they’re being laid off.
TV Newser reports that the cable news channel began laying off affected staffers on Tuesday. The outlet adds that there’s no concrete number of people who won’t be working at CNN.
However, approximately 23 staffers in CNN’s Hudson Yards offices were notified that their positions were being eliminated. Furthermore, another source confirmed to the outlet that layoffs had occurred.
Despite laying off some staffers, the company is still trying to place those impacted CNN+ employees in other positions around CNN and Warner Bros. Discovery.
When the network announced it was pulling the plug, CNN Worldwide chairman and CEO Chris Licht said in an internal memo that they would continue to receive pay for 90 days and benefits along with helping them find opportunities within the company.
“All CNN+ employees will continue to be paid and receive benefits for the next 90 days to explore opportunities at CNN, CNN Digital, and elsewhere in the Warner Bros. Discovery family,” Licht said.