Vice Media, the digital company once valued at nearly $6 billion, filed for Chapter 11 bankruptcy Monday. After launching as a magazine 29 years ago in Montreal, the startup expanded, launching a flagship website and acquiring the Virtue ad agency, Pulse Films and the women-focused Refinery29. Vice’s businesses will continue operations throughout the bankruptcy process, which includes a sale to take place within 55 days. Vice lenders including Fortress Investment Group and Soros Fund Management have joined forces to acquire the company, submitting a bid of $225 million and agreeing to assume “substantial debt.” Continue reading Vice Media Files Chapter 11 with Sale Set for Within 55 Days

BuzzFeed is closing its Pulitzer Prize-winning BuzzFeed News operation in a consolidation aimed at improving the company’s balance sheet. “We are reducing our workforce by approximately 15 percent today across our business, content, tech and admin teams, and beginning the process of closing BuzzFeed News,” BuzzFeed CEO Jonah Peretti explained in a memo to staff on Thursday. The layoffs will affect about 180 employees. The company will continue operating the meme-driven BuzzFeed.com while HuffPost, acquired in 2020 from Verizon, will carry the mantle for news reporting. Continue reading BuzzFeed News Closing as the Industry Continues to Struggle

Snapchat’s new feature, Dynamic Stories, uses RSS feeds from 40 media partners to automatically generate Stories that will appear in its Discover section. Early partners include Axios, Bloomberg, CNN, Condé Nast, ESPN, The Wall Street Journal and Vice. Publishers are already seeing results, Snapchat reports, with The Washington Post reaching more than 1.1 million Snapchatters with coverage of the war in Ukraine. Using RSS automation, Snap is lowering the barrier to entry for legitimate news publishers by eliminating the need for manual updates. After their initial appearance the Stories will update in real time. Continue reading 40 Blue-Chip Media Partners Join Snapchat to Stream News

Samsung debuted its TV Plus streaming service on the Internet, with the ability to cast videos to devices that support Google’s Chromecast to its mobile app. Previously, TV Plus was only available on Samsung’s smart TVs and smartphones. The web-based TV Plus apparently had a soft launch in May but had not yet been publicly announced by the company. With this expansion, TV Plus has become a rival to other free streaming services such as Pluto TV and Tubi. U.S. consumers will have access to about 140 streaming channels. Continue reading Samsung TV Plus Is Now Streaming Online After Soft Launch

AT&T’s ad unit Xandr has launched its ad-buying platform that offers exclusive access to AT&T’s customer data and assists companies in purchasing ad space across formats including mobile and streaming video. The platform, called Xandr Invest, will let advertisers buy ads on AT&T properties such as CNN, TBS and TNT, and will serve as the only ad-buying platform for Xandr’s Community marketplace that also features curated content from publishers such as Philo, Tubi and Vice. AT&T will compete in advertising with Google and Facebook, which combined represented almost 60 percent of the Internet ad market last year, according to PwC. Continue reading AT&T Rolls Out Its Ad-Buying Service for Premium Content

Snapchat currently touts 5 million users in the United Kingdom who watch Shows on the social platform that are produced by its U.S. publishing partners. As part of its efforts to better compete with popular services such as Google’s YouTube and Instagram’s IGTV for the growing number of online and mobile video fans, Snap Inc. is adding 25 new series from 17 U.K. content producers. The content will largely target millennials. The move highlights Snap’s strategy of leveraging more TV-style content to grow engagement in specific markets and increase revenue. Continue reading Snapchat Shows to Introduce 25 New Series From the U.K.

NBCUniversal and Snap plan to open a production studio to create original content for mobile devices. Mark and Jay Duplass, who formed creative agency Donut to produce programming for new platforms, will be the first creators for the studio. NBC News already produces “Stay Tuned,” a twice-daily newscast distributed on Snapchat, which drew 29 million unique viewers in its first month. Former NBC Entertainment executive Lauren Anderson will head the new NBCUniversal-Snap studio, to be based in Santa Monica. Continue reading NBCUniversal, Snap to Open New Studio for Mobile Content

Vice Media will join other media companies in producing exclusive short-form content for Snapchat. The first Vice show to appear via the social and messaging app will be the eight-episode dating series “Hungry Hearts with Action Bronson,” to debut later this year. “The new show is the first of several Vice has planned for Snapchat,” reports TechCrunch. “Vice had already worked with Snapchat in the past, having been a global launch partner for Snapchat Discover back in 2015.” Snapchat already has deals with ABC, BBC, Discovery, NBC, Time and others to add original content to the platform. Notable content is currently provided by “Saturday Night Live,” “The Bachelor,” “The Tonight Show Starring Jimmy Fallon” and “The Voice.” Continue reading Vice Media Has Plans to Produce Original Shows for Snapchat

Disney founded its own accelerator a few years ago, providing financial and logistical support to a range of startups from Hanson Robotics, which makes lifelike robots, to Jaunt and its VR cameras. Disney chooses the startups it supports wisely, selecting companies that are creating things that could potentially align with Disney’s media and business pursuits. Take virtual reality for example; Disney isn’t likely to build its own camera, but it can certainly benefit from supporting a company with the expertise to do so. Continue reading Disney Accelerator Supports Nine Startups for Mutual Benefit

To expand its social media presence, Discovery Communications invested $100 million in Group Nine Media, a new holding company composed of NowThis, The DoDo, Thrillist, Discovery’s digital network Seeker and digital production company SourceFed Studios. In two years, Discovery will be able to buy a controlling stake in Group Nine. German media company Axel Springer will continue to be the second-largest shareholder. NowThis, The DoDo and Thrillist are said to be valued at $400 million, for a total deal value of $550 million. Continue reading Discovery Invests $100 Million in Digital Content Conglomerate

Following the CNBC report that Google and Salesforce.com were among those being considered for a Twitter takeover, TechCrunch added that Microsoft and Verizon have also expressed interest. Today, headlines indicate that Disney is considering a possible bid. Bloomberg reports that Disney is working with an adviser on a potential deal, in what would be the company’s latest investment in a string of tech-related media businesses including Hulu, Vice and MLB’s BAMTech. The Wall Street Journal suggests that “a Twitter acquisition would be Disney’s biggest technology deal yet” and “could benefit ESPN as cord-cutting becomes more widespread.” Continue reading Disney Said to Be Considering Possible Bid for Twitter Merger

TV network and digital publisher Univision will purchase Gawker Media for $135 million, a deal that includes all seven of the blog network’s sites, including Jezebel, Deadspin and Gawker.com. The only other bidder in the auction, Internet publisher Ziff Davis, originally offered $90 million. “I am pleased that our employees are protected and will continue their work under new ownership — disentangled from the legal campaign against the company,” said Gawker Media owner Nick Denton. “We could not have picked an acquirer more devoted to vibrant journalism.” Continue reading Univision Outbids Ziff Davis, Buys Gawker in $135 Million Deal

Publishers have gravitated to sponsored content — stories, videos and podcasts that mimic journalistic content — to cope with rapidly changing online advertising. The Atlantic, Slate and The New York Times are among the publications that count sponsored content as a significant portion of their revenue. Companies such as Vice and BuzzFeed have created businesses centered on focused content. But the definition of sponsored content is shifting as viewers move from news sites towards Facebook and other social media platforms. Continue reading How Sponsored Content Transforms as It Moves to Facebook

Facebook is again changing its News Feed algorithm, this time to favor postings by the users’ family and friends over those from publishers. The result will be that postings, including links, videos and photos, from publishers of all sizes will appear less prominently in users’ News Feeds. That means that The New York Times, The Washington Post, BuzzFeed, Vox Media, Vice and others will get less traffic than they have become accustomed to receiving. More than 1.65 billion users per month view Facebook’s News Feed feature. Continue reading Facebook Now Favors Friends Over Publishers in News Feed

Music streaming service Spotify, which boasts 75 million users, plans to debut 12 new original video programs around music themes. The new programs, which will feature performances, pop culture, musical storytelling, animation and videos about music culture, will be produced and streamed beginning this summer. Spotify had announced a year ago that it planned to move into video. The content will initially be available in four regions — the U.S., U.K., Germany and its home market Sweden — out of the company’s 59 markets. Continue reading Spotify Now Producing Original Music-Focused Video Content