One of history's most successful investors is powerless to reverse the long-term secular decline in the newspaper business, judging by an interview with Berkshire Hathaway chairman Warren Buffett published by USA Today.
The already-pretty-strange saga of Gawker, Hulk Hogan, Bubba the Love Sponge, and the least erotic sex tape ever just seems to get stranger with each passing day. That follows the revelation earlier this week that PayPal co-founder Peter Thiel had contributed $10 million to help fund Hogan’s (real name Terry Gene Bollea) lawsuit against Gawker for violation of privacy. It's all part of a long-planned revenge against Gawker outing Thiel in 2007, Gawker founder Nick Denton confirmed that several big media companies have expressed interest in acquiring the gossip site and its sister properties, despite the $140 million …
"Revenge is a dish best served with a billfold," is apparently the motto of tech investor Peter Thiel, who ponied up $10 million to fund the lawsuit brought by Hulk Hogan. The story starts in 2007, when Gawker outed Thiel - a co-founder of PayPal well known for his desire for privacy - as a homosexual.
A new online sports media company, 12up, is setting out to change all that by combining native ads and user-generated content. It's putting its money where its mouth is with a cost per engagement model, only charging advertisers when someone actually interacts with the ads.
Wenner Media, publisher of Rolling Stone, is getting into video games with the impending launch of a new site, Glixel. Spearheaded by Gus Wenner, son of Rolling Stone co-founder Jann Wenner, the new site will launch in October.
Tribune also revealed it is digging in for a lengthy battle with Gannett by bringing in a new investor, Nant Capital, owned by billionaire Patrick Soon-Shing, in hopes this new ally will help fend off Gannett's unwanted attentions.
Tribune's new chairman is working on a counterbid for Gannett, just weeks after receiving Gannett's bid for Tribune - and a few days after receiving another, higher bid when the first was rejected.
The detention facility at Guantanamo Bay Billed has 5,800 American personnel. It also has it's own magazine. "The Official Publication of Joint Task Force Guantanamo," "The Wire" recently published its seventh issue, delivering community and professional news to military personnel and their families living on the base.
Hugh Hefner, the iconic founder of the men's lifestyle publication, was named as a co-defendant alongside Bill Cosby in a civil lawsuit against the latter, following allegations that Hefner helped Cosby drug and sexually assault a young woman in 2008.
That equals a fifth of projected digital ad revenues of $50 billion in the latter year, leaving publishers and media companies with $38 billion.