Media Insider: Time Inc. Looks to Sell Essence, Megaclustering Local Dailies, The Good and Bad of Push Alerts

Welcome to Media Insider, PR Newswire’s round-up of media stories from the week.

Photo by Automotive Rhythms, used under CC BY-NC-ND 2.0.

THE ROOT | RICHARD PRINCE
Time Inc. looks to sell Essence

Time Inc. is looking to sell its majority stake in Essence after 12 years. According to The Root, the transaction is hoped to be completed by the end of the year. The news is likely to revive talks of restoring Essence to black ownership. Time Inc.’s Chief Executive Rich  Battista said “a new investor might have the resources to enable Essence to expand its growing business.”

FYI, this story is developing: Minority publishers called on the GAO to issue a report on federal advertising contracts and subcontracts with minority-owned newspapers and media companies.

THESTREET | KEN DOCTOR
Megaclustering daily newspapers 

It’s no secret that newspaper companies face the burden of raising revenue with declining ad sales. This has led to what’s being called the megaclustering, or consolidation of many smaller newspaper companies into one larger company. TheStreet reports that this trend in cost savings can fuel another two to three years of relatively expectable cash flow, making the choice for smaller dailies to sell to larger chains more desirable.

Perspective: Digital may be the future, but print still looms large in the present fortunes of newspapers

JOURNALISM.CO.UK | MOLLY LONG
Why assumed knowledge is the ‘enemy of the push alert’

You’re probably no stranger to receiving push alerts from publishers, as they can be effective for driving readership of audiences on the go. But, according to Journalism.co.uk, it’s important to keep the alerts helpful and not annoying. The idea is to make sure that audiences who receive the alert aren’t confused about the context of the alert and that they understand why the alert matters to them.

ICYMI: Last week, you probably received a push alert about White House Press Secretary Sean Spicer’s resignation.

POYNTER | BENJAMIN MULLIN
With a new local TV program, Cheddar aims to bring Wall Street to Main Street

Cheddar, the millinneal-focused financial news organization, is partnering with local TV stations to get its business and tech coverage in front of TV audiences across the US. The partnership will allow local TV stations to air one- to two-minute market updates from the heart of NYSE and expose Cheddar to large audiences in local markets, reports Poynter. Cheddar founder and CEO Jon Steinberg said it’s a win-win for both parties.

Speaking of start-ups: The Athletic, a local sports startup with no advertising, raises $5.4 million and scoops up Sports Illustrated’s former top editor.

ADAGE | GARETT SLOANE
Facebook gets brands ready for 6-second video ads

Facebook wants advertisers to cut ad times to six seconds. The social media giant conducted a recent test with Tropicana that compared the results from six-, 15- and 30-second Facebook ads, and found that the shortest time saw higher brand metrics. AdAge reports that video is an important part of Facebook’s mobile strategy and shorter video ad times could change the way people use and engage on the network.

Did you know? Only 1 percent of social videos will go viral.

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Tabresha B. Langham is a Customer Content Specialist with PR Newswire. She also is a social media junkie, foodie, music fiend and Auburn University Alumn (War Eagle!). Tune into her insights as a social curator at @PRNmedia, or follow @TabreshaL.

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