Time Inc. Sells Itself to Meredith Corp., Backed by Koch Brothers
nytimes.com
nytimes.com
Maybe it's a bit of confirmation bias as I don't go out of my way to read Time magazine anymore. But compare their nationally known work to that of Conde Nast, another prestigious brand and also having major revenue problems as a media company. Despite that, The New Yorker doesn't seem to have lessened at all in the rate of influential and newsworthy pieces it produces (Rowan Farrow's expose of Harvey Weinstein being one of the more recent notables [0]).
If the Koch Brothers intend to use it part of their PR wing, they have a lot to do to boost the brand so that people even pay attention.
Possibly relevant historical example: In 2010, another well-known national magazine, Newsweek, was bought from the Washington Post for $1 by a mostly unknown billionaire [0], Sidney Harman, of Harman Kardon fame. Harman died in 2011, so whatever plans he had for Newsweek for his own purposes went unrealized. It was then sold to IBT Media, a mostly unknown company owned by a somewhat controversial charismatic Christian sect [2]. Was Newsweek used to advance its founders causes? Hard to say, like TIME, I can't remember the last time a Newsweek exclusive had national influence the way the New Yorker regularly does, though some people here may faintly recall their epic fuckup about Bitcoin's founder [3]. And having an independent, private source of wealth hasn't helped Newsweek be any more stable than it was when it got sold for $1 [4].
[0] http://www.nytimes.com/2013/08/04/business/media/newsweek-bo...
[1] https://www.newyorker.com/news/news-desk/harvey-weinsteins-a...
[2] http://www.motherjones.com/media/2014/03/newsweek-ibt-olivet...
[3] http://www.newsweek.com/2014/03/14/face-behind-bitcoin-24795...
[4] http://www.foliomag.com/newsweek-lays-off-impoco-others-peop...
That really killed the brand for me. I don't associate quality journalism and storytelling with Top 10 lists. Plenty of other websites do these lists far, far better.
OT - they hinted at this in 2002: https://www.newyorker.com/magazine/2002/12/16/beauty-and-the...
I'd say that both of them are likely to have a larger impact on the world than Trump, really...
However, I think the value is the web site not the actual paper publication. A couple years ago Time ran a story I was interested in and wanted a paper copy. I went to the local grocery store and they didn't have it and then I went to the local chain bookstore and they didn't have it either. A similar thing happened when Sports Illustrated had an article I wanted a paper copy of. What the magazines sections of these stores did have were plenty of crafting and gun magazines (I live in a rural area) and tons of "special issues" about Princess Diana or the Beatles or something. The magazine rack ain't what it used to be.
I wonder if it's different for Time's "Person of the Year" issue? I'm not sure where I'd find Time or Sports Illustrated this week; but, in February, the Sport's Illustrated Swimsuit Issue is everywhere.
My guess is that it’s a platform to inject fringe-y stuff into the national conversation with a fading mainstream brand. It probably still has pull with old people.
Has anyone gone back through the archives to determine if this has always been the case?
https://entertainment.theonion.com/time-announces-new-versio...
Sadly, it's video-only. Couldn't find an article.
It's an interesting article discussing the transition between the days of the media having a stranglehold on information dissemination and the transition to modern times where the internet has mostly supplanted their role there. And the massive implications and changes that took place internally, and now externally, during this process.
[1] - https://www.brookings.edu/research/essays/2014/bad-news
I went to their homepages, both of them had some article on "harry and markle", watchdog suing trump, sexual assault article.
Whats the difference?
PS: just scanning the homepage put me in bad mood, why would ppl voluntarily do this to themselves.
The CFPB official suing Trump is a serious ongoing crisis which is not about personal injury, but rather a dispute about who is legitimate head of a federal agency. It is the literal top story of the Wall Street Journal.
And whatever you might think about the the crisis about changing mores on sexual harassment and assault, it is right now hitting Congress and changing committee chairs, endangering reelections, and may lead to resignations.
how are huffpo headlines not "normal" if they have same headlines.
WaPo headline for CFPB story: Fight over consumer watchdog agency goes on as two acting directors try to take command
HuffPo headline: CIVIL WAR AT FINANCE WATCHDOG!
One is clearly more hysterical than the other. The story content may be roughly the same, but the headline is not. And if the headline is so clickbaity, it's probably not unlikely that the content is more dramatic/hysterical than is necessary too.
"Steve Lombardo, a spokesman for Koch Industries, also said that the Kochs had no plans to take an active role in the expanded company. “This is a passive financial investment made through our equity development arm,” Mr. Lombardo said. The company’s role in the transaction, he said, was similar to that of a bank."
Regardless of what you think of the Koch brothers, this appears to be a mundane deal sensationalized by the specter of the Koch brothers.
Of course, until 5 years from now, they simply frown their faces about an article and editors get the message.
Maybe it is like you said, maybe it will end like this:
https://www.theguardian.com/media/2005/dec/12/newscorporatio... "I picked up the phone and called Murdoch and said that I was speaking not as a shareholder, but as a viewer of Fox. I said that these are not Muslim riots, they are riots," Campaign Middle East magazine quoted the prince as saying.
"He investigated the matter and called Fox and within half an hour it was changed from 'Muslim riots' to 'civil riots'."
Money does strange things.
You typed a lot of words when the truth is obvious. Billionaires don't acquire media outlets to make money (directly).
(For example, it started peddling "Mueller needs to resign" nonsense after the indictments under easily falsifiable excuses.)
[See https://www.politico.com/story/2017/10/30/murdoch-fox-muelle...]
What the investor says is worth nothing. They are buying a media company that would let them significantly influence in the market.
Or that in case some editor gets the bright idea to write something critical about cause near and dear Kochs that a call from that equity development arm will not change editor's mind?
People of all political stripes buy media to have influence first. Making money is a bonus.
PS It would be interesting to see how WaPo changed stance after Bezos bought it.
For example, the Kochs work hard to reframe discussion of government revenue / taxes, regulation, and government overall in order to reduce all of them (whatever you think of their goals, that is the case). If Gates invested politically in his goals, there might be much more government support for health and education, via funding, research, availability to citizens, and policy innovation. Despite Gate's vast wealth, the U.S. government spends orders of magnitude more than him; a million dollars influencing politics could leverage far more resources than a million spent directly on research.
Of course, everyone would be better off if the fate of the U.S. depended on democracy - one person, one vote - and not on the manipulations and influence of three people.
It's a shame it's being bought by this lot though - of course they can make their man of the year whoever the like now, including Trump and other controversial people.
Can't beat their historical picks, Hitler and Stalin (twice), both of which met the original goal of the award: https://news.ycombinator.com/item?id=15785040
Trump has already been Person of the Year, 2016.
There have already been controversial figures named Person of the Year in the past, such as Vladimir Putin, politicians (including American presidents, Newt Gingrich), popes, and protesters. I think Kissinger was Person of the Year too. It's meant to be someone who has had the most influence, not necessarily someone whose been "the best."
Also you got the World Series confused with the Super Bowl.
http://freakonomics.com/podcast/why-hate-koch-brothers-part-... http://freakonomics.com/podcast/why-hate-koch-brothers-part-...
Also, I can't recommend the Freakonomics podcast enough.
A quote from the video: If you don't learn to do dirty jobs, if you don't learn unpleasant work, by the time you're in your 30s, you never learn to work productively ... you learn from that you don't want to do that the rest of your life, so you had better find some aptitude.
He says that after telling about a time his father made him dig out weeds.
[0] https://www.theatlantic.com/politics/archive/2015/03/do-the-...
They also support gay marriage and an end to drug prohibition.
http://www.cnn.com/2014/12/14/politics/david-koch-gay-rights...
Unless I'm mistaken about that, I don't think it particularly matters what their personal beliefs are, since they are working against those supposed beliefs with their money and their actions.
If you're willing to sacrifice human rights to get tax cuts and deregulation, it shows what really matters to you, and what sort of person you really are.
Did you vote for Barack Obama in 2008, despite his opposition to gay marriage?
So while I personally can't articulate reasons why the Koch deserve enmity, I sure as hell don't have the right to judge people who are directly disenfranchised because of the Kochs' choice in priorities.
> what is the political problem with him?
Just do a quick search and you'll find plenty of material. Essentially, they have revived the goals of the John Birch Society, an extreme right-wing group in which their father played an important role.
The Koch brothers support both libertarian causes and are opposed to action against climate change, to name two. They also put private investigators to dig into the background of a journalist that was writing about them:
https://www.nytimes.com/2016/01/27/nyregion/what-happened-to...
More broadly, they are able to affect the shape of the laws being produced in this country by bankrolling various politicians. Their qualification to do so is simply that they are rich. You can find that politically questionable even if you're in favour of their politics.
You don't have to object to them personally, but you can't really say there is nothing for anyone to disagree with.
Even after the results from Berkeley earth that was in part funded by one of the Koch foundations?
https://www.theguardian.com/environment/2015/feb/21/climate-...
You don't have to be completely binary in your judgements of people like the Koch brothers. They can still be politically questionable even if they do things you agree with from time to time.
For instance, their views on criminal justice reform would probably be quite favourably received by many of the same people who oppose their views on climate change. That isn't a contradiction unless you make it one.
Time Inc. Sells Itself to Meredith Corp., Backed by Koch Brothers
WTF cares about Family Circle? Clearly this story is only newsworthy because of the potential propaganda angle.
Along with the shadow bans that get handed out on a whim, it's one of the major reasons I've stopped visiting.
Information delivery rates matter.
I am not endorsing the OP's statement, just trying to clarify.
https://www.politico.com/story/2017/04/donald-trump-david-bi...
Officially it's someone/something "[that] for better or for worse... has done the most to influence the events of the year".
We can hire all the brightest MBAs in the world, and if they don't have the right values, we will fail. We hire based on values first - then talent.
https://youtu.be/Z7Pj2rKdKII?t=25m12s
Other quotes:
What are my capabilities that will create superior values for others? What are the best opportunities to do that?
The Kochs are a special case, though, with their very strong political beliefs; I wonder if "values" refers to that.
Wish there were more independence in the media. Or at least fewer owners who will push agendas. Time will tell.
If WaPo had a reporter/editor who specialized in particular zealous investigations into Amazon, we would likely hear murmurs and off-the-record complaints about how WaPo has been going unexpectedly soft on Amazon post-acquisition. In contrast, there is no possibility of knowing how the average Wapo tech reporter would have covered Amazon in an alternate universe in 2017.
I don't agree with the general point that bias is necessarily difficult to detect. For example, with Murdoch there is a large amount of explicit evidence.
Lets say WashPo kills a story, why wouldn't Fox News run that story in the headlines? Or New York times? Or Politico, or... any media organization worth a darn?
A story that isn't pursued might not see the light of day. Big stories, like the Weinstein disclosures, are broken after long periods of investigation and journalistic grunt-work. Only after they break do you see all the other news outlets pounce on the story and start reporting it. Historically, Wapo has been an important place for investigative work, they broke the Watergate story.
I think that's more the worry.
As is true of all Media.
I don't recall any major Fox News articles or pieces on the Sexual Harassment claims of Bill O'Reily. But the story got out, because we have competing media companies in the USA.
That's the benefit of free-market competition. Unfortunately, it also means that whenever one media company sounds the alarm, the readers need to be careful with the evidence.
How long did it take for the Kevin Spacey story to get out even though there were rumours from early 2000. Some stories can remain buried for a very long time.
Free market is not the answer to everything.
Saying he makes editorial decisions in the newspaper because they printed criticism of Sanders or his competition doesn't cut it for me.
A few examples:
Rupert Murdoch
Michael Bloomberg
Andrew Breitbart
Matt Drudge
https://www.washingtonpost.com/world/europe/amazon-workers-i...
https://www.washingtonpost.com/business/stores-hope-deals-ex...
Don't be so patronizing.
HuffPo but she's been at it for a while.
I meant to say major ownership changes to activist owners in the last two years --though there may be some other big ones.
Media outlets are valuable, thus your options for ownership are 1) very rich individuals or families or 2) large corporations. Which one of those did you want to see more of?
If you are going to be incensed about something get your facts straight.
Let's triple the fee and get some state newspapers and advertising.
They'll have plenty of spin and perspective that I disagree with but the rest of our media is absolutely festering. Anything that isn't owned by an 80 year old billionaire is welcome to me. They simply can't be any worse.