Media industry
fromNieman Lab
2 days agoThe AP is offering buyouts in a pivot away from newspapers
The Associated Press is shifting focus from newspapers to visual journalism and AI-driven revenue sources due to declining newspaper income.
In just one day earlier this month, owner Jeff Bezos and then-publisher and CEO Will Lewis took a sledgehammer to one of the most respected and legendary news outlets in history by laying off more than 300 journalists, accounting for, according to some reports, more than 40% of the staff. The sports and foreign desk were essentially gutted. So was the book department, photo desk and much of the metro department.
Alden Global Capital expressed surprise at the rejection of its $16.50 offer for The Dallas Morning News, particularly since it wasn’t even considered for discussion.