Gawker Media and Founder/CEO Nick Denton announced they will file for Chapter 11 bankruptcy on Friday while also announcing the company will sell to ZIff Davis, owners of hot publications like IGN, PC Magazine, Computer Shopper, Ask Men and others.
Gawker is in the midst of battling the case brought by Hulk Hogan (Terry Bollea), which resulted in Hogan being awarded $140M, of which Gawker is responsible for $130M and Nick Denton $10M. Gawker is appealing the decision and maintains its confidence in reversing the judgement, but has been required to put $50M in escrow while the case is still being finalized.
Bankruptcy court will allow other suitors to bid on Gawker Media Group. So while Ziff Davis has offered $100M, they could end up paying more or GMG could end up under the ownership of a different company altogether.
This case presents many interesting points on modern journalism, what should and should not be reported on in the news media and how those with a lot of cash can potentially publications they don’t like out of business. Watch Nick Denton’s interviewwith Kara Swisher from the recent Code Conference.
Microsoft announced it will purchase LinkedIn for $26.2B or $196 a share in an all cash deal this AM.
This deal marks by far the largest acquisition in Microsoft’s history (they bought Skype for $8.5B in 2011) and will bring together two leaders in the business tools/technology space.
With LinkedIn, Microsoft is back in the conversation as a business tools leader by getting access to useful utilities in the Recruiting/HR, job hunting, networking and professional content sharing space.
Wall Street seems to think LinkedIn will get stronger from the deal as well. LinkedIn had been struggling to convince the market of its value with shares dropping from a 52-week high of $255 down to $131 before the deal was announced. Post announcement LinkedIn shares jumped by almost 50%.
US Time Spent with Media Slowing
Overall US time spent with media in 2016 will increase by 5 mins, coming to 12 hours 5 mins/day. But growth is showing signs of slowdown, suggesting US media consumption is reaching a saturation point.
Non-digital TV still represents the single largest piece of a US consumer’s consumption at 4 hrs 5 min each day. Mobile (non-voice) time spent is at 3 hrs 5 mins and desktop at 2 hrs 11 mins. When coupled together, digital consumption far exceeds linear consumption and simultaneous consumption is very present with 8 in 10 digital users reporting they consume TV at the same time.
By 2018, growth in US media consumption is expected to level off.
See full eMarketer US Time Spent with Media Report here.
Pac-12 Network is the first-ever integrated media company owned by a college conference. The Pac-12 is one of the most popular and competitive athletic conferences in college sports, and the Pac-12 Network presents more than 1200 live events across their seven television networks (one national and six regional) and online at Pac-12.com.
The Pac-12 is great athletically and academically, featuring 4 of the Top 15 Global Universities (Cal #3, Stanford #4, UCLA #8 & Washington #11). As such, the audience on Pac-12 Network tends to be affluent and well educated including current students, alumni and Pac-12 sports fans.
The Pac-12 Network offers integrated opportunities for brands from linear broadcast, fan engagement through on-site activation, TV-visible signage, digital sponsorships, social and ticket/hospitality programs.
Here Come Dat Election
Twitter’s growth may have slowed (we see you climbing the new users growth chart, Snapchat) and they seem to be on the decline when the tech industry talks about heavy-hitting social platforms. The week, however, reminded us that Twitter really is the best place for political figures to interact in real time and deliver tweets that can only be described as keeping it one-hundred or flame emoji x3.
On Facebook and Instagram we can see posts that feel rehearsed, edited, and planned out by a social team larger than some small colleges. Some of these posts may not even feel like they are authentically from the candidate’s voice as they tend to lack personality. But then there’s Twitter.
It’s not news that Trump has been vocal on Twitter even before his presidential campaign began. His no-holds-barred, Kanyesque
We all know where this is going.
Hillary’s tweet has now become one of the top 5 most retweeted tweets and is a subtle reminder that with the barriers of timeline algorithms and hard to share posts (looking at you, again, Snapchat), Twitter, like a common cold in kindergarten class, or norovirus on a cruise ship, still reigns supreme for spreading viral content.