Media Insider: Hearst Predicts $12B in Revenue, UK Broadcasters Fight for Queen’s Memorial Footage

Welcome to Media Insider, PR Newswire’s roundup of media news stories from the week.

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Hearst eyes $12B in revenue as B2B business grows
Axios | Sara Fischer

According to new figures, Hearst expects revenues to grow close to $12 billion this year, up slightly from the record $11.9 billion it earned last year. The company’s specialty media, data, and software portfolio now accounts for a larger portion of its profits (more than 40%). But its television business is still the biggest source of profits on the consumer side, according to CEO Steve Swartz. The company owns 20% of ESPN and 50% of A&E through a deal with Disney, plus 33 local TV stations across the U.S. On the print side, Hearst’s daily newspapers and weeklies have 338,000 digital-only subscribers. “We are very much believers in the newspaper business. We’re certainly staying in the newspaper business, and if anything, we’d like to find ways to expand,” Swartz said.

In other print news, Parade magazine, the 80-year-old newspaper supplement, will publish its last print edition on November 6.  

UK broadcasters battle monarchy over control of Queen’s memorial footage
The Guardian | Jim Waterson

Buckingham Palace has insisted British broadcasters can only retain an hour of footage from Queen Elizabeth II’s commemorations for future use. BBC, ITV, and Sky News were told to produce 60-minute compilations of clips from the ceremonial events held across the 10 days following the Queen’s passing. The royal household would then be able to veto any proposed inclusions. Once the process is complete, “Any news outlets wishing to use unapproved pieces of footage would have to apply to the royal family on a case-by-case basis, even for material that has already been broadcast to tens of millions of people,” The Guardian reported. One journalist with knowledge of the negotiations said, “We’re furious that they’re trying to restrict how people can relive sombre but important historic events.”

In other TV news, Entrepreneur Media Inc. has launched a streaming service that will “provide new, exciting, engaging programming to help shape the business leaders of tomorrow.”

NPR’s news chief announces unexpected departure after four years
Washington Post | Paul Farhi

Nancy Barnes, NPR’s top news exec since 2018, made the unexpected announcement that she’ll be leaving the nonprofit media organization later this fall. Her announcement came just hours after NPR’s chief executive, John Lansing, announced the creation of a new chief content officer position that will oversee all of NPR’s programming — effectively creating another tier of management over Barnes. She called her departure “bittersweet” and said she will “pursue other journalistic endeavors.” Barnes’s successor will become the fourth person to run NPR’s news operations in the past five years.

More personnel news: Washington Post media reporter Elahe Izadi has been named a host of “Post Reports,” the organization’s flagship podcast.

Who owns what in Big Media today
Recode | Rani Molla, Peter Kafka

To help simplify a complicated media landscape, Recode created a map showing “the relative size, power, and relationships between the companies that make, own, and distribute the stuff we watch at home, on our phones, and even sometimes in a theater.” The fourth iteration of the map shows continued merging among media companies and less love on Wall Street for streaming, though everyone is still trying to catch up to Netflix by creating their own streaming services. It also includes tech giants Amazon, Apple, Facebook, and Google for the first time — since many argue that they are media companies.

More data and charts: A new report from Variety looks at the “demographic divide” across media platforms.

CNN sets prime-time lineup through midterm elections
The Hill | Dominick Mastrangelo

In case you missed it, CNN announced yet another update to its lineup ahead of the midterm elections. Jake Tapper will move to prime time and host a show at 9 p.m., the slot previously held by Chris Cuomo before his firing last year. “The world has come to rely on Jake’s no-nonsense approach to covering the news, especially during high-stakes election cycles,” network president Chris Licht said in a statement. Current morning anchors John Berman and Brianna Keilar will take over Tapper’s 4 p.m. slot and “The Situation Room with Wolf Blitzer” will add an hour to its programming. These changes and more will go into effect on Oct. 10 and continue through the week of the Nov. 8 elections.

More from CNN: Iran’s President withdrew from an interview with CNN’s chief international anchor Christiane Amanpour after she declined to wear a head scarf.

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Rocky Parker is the Manager of Audience and Journalist Engagement at Cision PR Newswire. She's been with the company since 2010 and has worked with journalists and bloggers as well as PR and comms professionals. Outside of work, she can be found trying a new recipe, binging a new show, or cuddling with her pitbull, Hudson.

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