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Future Media Group acquires W Magazine; Stephano Tonchi exits

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Photo credit: Trevor Smith (Stefano Tonchi)

Future Media Group has reportedly acquired W magazine from Condé Nast. The acquisition will add W with Surface and Watch Journal to form Future Media Group. According to the press release, W will continue publish eight print issues annually while also expanding the brand’s digital and experiential footprint.

W has always been an extraordinary and visionary arbiter of style. For over 45 years, its pages have been filled with indelible imagery and exciting journalism,” said Marc Lotenberg, CEO of Future Media Group. “We look forward to honoring and building on that legacy. We know that W will serve as a perfect complement to the publications already in our portfolio.”

Continuing W‘s commitment to creativity and groundbreaking content is vital to its evolution. To that end, Future Media Group announced Sara Moonves will be the magazine’s new editor-in-chief. Moonves, who previously worked at Vogue and at T:The New York Times Style Magazine, joined the staff of W as Style Director in 2017.

“Sara has impeccable taste and a keen eye for how a media brand should evolve in today’s fast-paced media landscape,” said Lotenberg. “She has enormous credibility in the fashion community, not to mention a forward-thinking sensibility that will bring W beyond its core print distribution into various offline, online and augmented formats.”

Moonves will also be the first female editor-in-chief at W since the magazine’s creation 47 years ago as a biweekly broadsheet spin-off of the fashion newspaper Women’s Wear Daily.

“I am excited to be a part of the future of W, an iconic brand that has always inspired me,” said Moonves. “W is W because of our amazing contributors, and I look forward to continuing to work with them in my new role. It is an honor to be able to guide this brand into its promising future.”

Future Media Group will operate W offices in Paris, Milan and New York, as well as a soon-to-be established bureau in Los Angeles.

Following a transitional period during which Condé Nast will provide support services, the W, Surface and Watch Journal teams will converge into a new office to work collaboratively across all departments. Amber Estabrook, W‘s VP of Revenue, will become the chief revenue officer of Future Media Group and lead the various brands in its portfolio. Joining Estabrook will be Lynn Hirschberg, the magazine’s editor-at-large and over 30 other dedicated and passionate current employees.

“Future Media Group will be differentiated by our innovative network which allows our advertising partners to achieve brand accelerations on a global scale,” said Estabrook. “Merging our talent under the Future Media Group umbrella provides us with an unmatched depth of experience within the cultural sector and the worlds of luxury and design.”

W was purchased by Condé Nast from The Walt Disney Company in 1999. Since its early days, the publication has celebrated the worlds of fashion, art, philanthropy and culture through stunning visual storytelling, exquisite artistry, bold photography and cutting-edge design.

Source: PR Newswire

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Uber discloses disturbing Data of 3,000+ Sexual Assault incidents

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Jaap Arriens/NurPhoto via Getty Images

Uber’s sexual assault problem has skyrocketed, but a new company report released by the ride-sharing hub on Thursday reveals shocking details of the ongoing crisis, and it’s worse then you could fathom.

In the 84-page, self-released report, Uber revealed the company receives thousands of sexual assault and misconduct reports a year, according to NBC News.

The chilling data includes 235 reports of rape, 280 reports of attempted rape, 1,560 reports of groping, 376 reports of unwanted kissing to the breast, buttocks or mouth, and 594 reports of unwanted kissing to a different body part.

In total, the report reveals Uber received 5,981 reports of sexual abuse between 2017 and 2018. While riders are typically the victims in many of the company’s higher-profile sexual assault cases — such as those lodged by four female survivors in 2018 — Uber’s report claims passengers were actually the accused party in 45 percent of the reports filed.

“Each of those incidents represents an individual who has undergone a horrific trauma,” Uber’s chief legal officer Tony West told NBC News. “But I’m not surprised by those numbers,” he added.  “I’m not surprised because sexual violence is just much more pervasive in society than I think most people realize.”

“We had to measure what was happening on our platform,” said West. “We know in business, if you don’t measure it, you can’t address it.”

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Jeff Bezos sets sights on buying NFL team

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Amazon founder and CEO Jeff Bezos is reportedly planning on purchasing an National Football League (NFL) team and is currently in talks with several current owners.

According to CBS Sports, Bezos “has spent considerable time around owners, including Washington Redskins’ Dan Snyder, and is in the process of moving to Washington.” Bezos, is worth an estimated $110 billion, including ownership of The Washington Post.

“There are not any teams currently on the market, though the Seattle Seahawks will be sold at some point following the death of Paul Allen last year,” the report said on Sunday. Snyder has been trying to get a state-of-the-art stadium built in Washington, DC, and Bezos can help him build one.

“Bezos moved The Washington Post to a new location after purchasing the paper, is setting up an Amazon hub in the area and some believe could aid Snyder`s pursuit of a new stadium, perhaps even with an Amazon sponsorship,” the report elaborated. Amazon has a partnership with the NFL to stream Thursday Night Football and he may buy an NFL team from a business perspective.

NFL is a professional American football league consisting of 32 teams, divided equally between the National Football Conference and the American Football Conference.

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Uber’s third round of layoffs raises major red flags

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Uber has reportedly terminated employment for another 350 workers in its third wave of layoffs, the company revealed on Monday. Uber Eats and Uber’s self-driving unit were hit the the hardest according to documents obtained by Tech Crunch

CEO Dara Khosrowshahi sent an email to Uber workers to address what’s being described as “difficult but necessary changes.”

The company has parted ways with an estimated 400 workers in its marketing department since July and 435 engineering and product workers in September. Some workers have also been asked to relocate.

The ride-sharing giant admitted in August that it garnered $5 billion in losses in the second quarter of 2019, attributing the costs to one-time charges connected to Uber’s May stock offering. Excluding those charges, Uber’s ongoing burn rate has been around $1 billion in recent quarters. Third-quarter financial results are due out next month.

While the ongoing layoffs have raised concerns as to where the future of the company’s headed, UBER says those who were fired only make up about 1% of the company’s workforce. 

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