Los Angeles' media companies are bleeding, and it is not just restricted to LA Times: both the trades Variety and The Hollywood Reporter are doing their own reorg efforts. THR laid off 12 people last week, including 10 editorial staffers, reports Folio. The layoffs are part of Nielsen Business Media's "reengineering" effort to streamline workflow across all publications, the company spokesperson told Folio. This comes after THR redesigned and relaunched its print and online editions in April. Also in April, Nielsen Business Media laid off about 40-50 staffers, across its media publications of Adweek, Brandweek, Mediaweek, Editor & Publisher and THR.
How long before NBM comes on the market, officially? Its counterpart Reed Business Information, owner of Variety, is in the process of being sold and we understand the book is finally out for prospective buyers.
By Rafat Ali