• NY Times Invests in TheSkimm
    Female-focused newsletter TheSkimm is raising half-a-million dollars from the New York Times, and other investors. “TheSkimm co-founders … say the money is an add-on to a $8 million round, led by 21st Century Fox, that they announced this summer,” Recode reports. Other investors include Yannick Bolloré, CEO of French media conglomerate Havas, and media advisory firm MediaLink.
  • Online Tabloids Struggling To Make A Profit
    Due to continued declines in desktop ads, even top tabloid Web site like TMZ are struggling to make a profit, as the Financial Times reports. “The internet has also been the undoing of tabloids, which prospered profitably for most of the last century, when the gossip-hungry still bought scandal sheets,” FT writes. Along with print declines, “It is similarly tough online — even for scoopmeisters like TMZ, which is free to read, like most of its competitors.”
  • Company Formerly Known as Glam Media Closes Doors
    Mode Media -- the lifestyle publisher and ad network formerly known as Glam Media is shutting down. “It’s an abrupt end for a company that had previously cast itself as one of the web’s biggest publishers, enjoyed a billion dollar valuation and planned on going public,” Re/code reports. “One person familiar with Mode’s business says the company generated close to $90 million last year and had been projected to do more than $100 million this year.”
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