FROM Sarah Ellison
What's Behind Yahoo's Downturn When Marissa Mayer took the helm of Yahoo four years ago, she vowed to reinvigorate the technology company as a major media brand. Her most visible strategy - big bets on big names, like hiring Katie Couric as Yahoo’s “Global Anchor.” And it seemed like the bet was paying off - Couric’s original interviews were viewed millions of times. In August, Mayer made her last high-profile hire, Martha Nelson, the former top editor of Time, Inc. But less than a year later, Yahoo is in bad shape. It will shed 15 percent of its staff and its core business may be up for sale. The reason for the failure, according to a new article in Vanity Fair , is that Yahoo’s new talent has been competing with Kim Kardashian’s...uh...rear end for clicks.
Rupert Murdoch on the Witness Stand Rupert Murdoch and his son, James, answered questions from members of Parliament today for almost three hours. Rupert Murdoch apologized, denied previous knowledge and blamed subordinates for the cell phone-hacking and bribery scandal rocking Britain's political elite. We hear about the testimony and the protester who threw shaving cream at the elder Murdoch's face.
Rupert Murdoch on the Witness Stand Britain's 80-year old press lord, Rupert Murdoch, and his son, James, answered questions from members of Parliament today for almost three hours, saying that phone hacking and bribing police officers are wrong. Both denied knowing that News Corp policies were broken so often and blamed subordinates they accused of betraying them and their company. At one point, a protester managed to throw a small amount of shaving cream in the elder Murdoch's face. We hear about the substance and the drama as the scandal develops.
Who Will Buy the Tribune Company? Yesterday was the deadline for bids for Tribune Publishing , owner of the Los Angeles Times . As recently as Tuesday, investment analysts were saying there might not be any bids at all. Yet, there were, from the Chandler family , the former owners; from Eli Broad and Ron Burkle, working together; and from a private equity firm interested in the Tribune’s TV stations. That’s according to Sarah Ellison in today’s Wall Street Journal .
Local Billionaires Make a Bid for the LA Times Yesterday, LA Times Editor Dean Baquet was forced out by Tribune Publishing over the issue of cuts in the editorial staff. Today, the paper reports on its website that local billionaires Ron Burkle and Eli Broad have offered to buy it.
Another Shoe Falls at the LA Times This afternoon, the Wall Street Journal Online reported that LA Times Editor Dean Baquet had been forced out of his job. Baquet confirmed it to the news room staff. Then publisher David Hiller made the official announcement, saying that Baquet will be replaced by Jim O'Shea, now editor of the Chicago Tribune . Tribune Publishing owns the Times.
Trump's Russia ties intensify with Comey firing Acting FBI Director Andrew McCabe contradicted the Trump White House today, insisting the Bureau had not lost faith in former Director James Comey. He promised to notify the committee of any interference into investigation of the Trump campaign's contacts with Vladimir Putin's Russia. What do we know about those contacts… and how they relate to Trump's business interests and those of his family?
Trump's 'America First' goes missing abroad In the Middle East, President Trump is changing some policies of the Obama Administration—and reversing his own campaign attacks on Islam as a religion that "hates us." We hear about his visit to Saudi Arabia and what's at stake for the rest of his foreign excursion.
Trump fires FBI Director James Comey Vice President Mike Pence took the Administration's lead today in explaining why the President fired the Head of the FBI, saying, "The president made the right decision at the right time." Trump's action is being compared to the so-called "Saturday Night Massacre" that led to President Richard Nixon's resignation in 1973.
Healthcare debate now shifts to the Senate Both parties are celebrating yesterday's House bill to repeal and replace Obamacare. House Republicans are cheering because they were able to pass it. Democrats are happy because they think it's so bad. We look at the details… and the politics.