12:06 pm Jul. 12, 2012
The Lineup collects the media stories, big and small, that are on our radar each day.
Remember last month when Roger Ailes said that NewsCore, the internal wire service of News Corp., was being absorbed by Fox News (in tandem with NewsCore boss John Moody's return to the network), because that would make NewsCore "operate more efficiently and effectively" and "strengthen our overall newsgathering capabilities and enable us to operate at an even higher level?"
Apparently what he meant was that NewsCore would "quietly [go] dark, with at least 20 positions eliminated," according to The New York Observer's Kat Stoeffel, who reports that News Corp. C.O.O. Chase Carey had identified the wire service as a money-loser, and that reporters were told by a human resources representative that its "function is going to be absorbed, but not the staff.” (Hence Moody's reintegration within the Fox News empire.)
Also, rumor has it The Daily has been put "on watch," according to Stoeffel's sources.
In case you've forgotten: News Corp. is beginning to prepare for a split that will sever its publishing brands, some of which are a major drag on the company coffers, from its more lucrative entertainment and television assets. But the division, as has been pointed out, isn't really between "news" and "entertainment." Television news is after all going to the Entertainment side; the Publishing side, one prominent Murdoch-watcher points out, will have a controlling 50 percent stake in Murdoch's Australian pay-television company, Foxtel. So, roughly $4 billion of News Publishing's $9 billion in assets will be ... television.
What's all this got to do with NewsCore? Well it was losing money, and its services were always more useful on the publishing side, which can't absorb any more money-losers than it's already got. With the division, what would the logical home for NewsCore have been anyway?
In other news...
Facebook is partnering with NBC now, too. [NYT/Media Decoder]
Meet the man behind the satirical Times Public Editor Twitter account. [The New York Observer]
The Observer's media reporter, Kat Stoeffel, is headed to New York magazine's The Cut. [W.W.D.]
Jeff Bercovici says Newsweek's Internet addiction cover-story is "Lazy, alarmist pop science writing." [Forbes/Mixed Media]
"Megyn Kelly is the brains of the Fox News operation." [New Yorker/Close Read]
The Star-Ledger is being sued for fraud. [Jim Romenesko]
More by this author:
- 'Village Voice' fires Michael Musto in yet another round of cuts
- 'New York Post' buyouts focus on 'loyal soldiers ... highest paid'