Media Insider: Twitter Rebrands as X, Pay Disparities Reported at Forbes
Welcome to Media Insider, PR Newswire’s roundup of media news stories from the week.
Elon Musk rebrands Twitter as X
CNN | Jordan Valinsky
After a shocking announcement over the weekend, Twitter’s rebrand to X became official on Monday and included the replacement of the iconic blue bird logo. The globally recognized logo had been used for more than a decade. It’s the latest major change to the site since it was acquired by Elon Musk in 2022 for $44 billion. Since the acquisition, the company has seen mass layoffs, a big loss in ad revenue, and complaints about owed severance. Twitter CEO Linda Yaccarino said of the rebrand, “It’s an exceptionally rare thing – in life or in business – that you get a second chance to make another big impression.”
Read next: Joshua Benton at NiemanLab wonders what it would look like if other media execs followed Musk’s lead.
Forbes union study shows pay disparities of newsroom workers of color
Axios | Sara Fischer, Kerry Flynn
A union study has found that “stark disparities in salaries and tenure exist between white newsroom workers and people of color at Forbes.” The union is currently negotiating a contract with Forbes management and has been focused on inclusion for the past few years. The survey found the union’s 61 full-time white members make $94,360 on average, almost $15,000 more than its eight Black members and $7,000 more than its 10 Asian members. Data also shows that men in the bargaining unit make $99,630 on average, compared to $88,350 for women. Forbes managing editor Joyce Bautista Ferrari said in a message to staff that the guild “cherry-picked” the data.
More union news: The New York Times union has filed a grievance over the newspaper’s plan to use The Athletic for sports coverage.
ESPN Is Said to Talk With Leagues About Taking Stake in Network
New York Times | Benjamin Mullin, Lauren Hirsch, Kevin Draper
ESPN has held talks with some of the most powerful leagues in professional sports, including the NFL, the NBA, and MLB, about taking a minority stake in its business. Anonymous sources say the cable network has held exploratory talks with the leagues as it tries to navigate its way forward in the streaming age. Bob Iger, chief executive of Disney – which owns ESPN – said in a CNBC interview last week that the company was “looking for strategic partners” that could help ESPN with either distribution or content. ESPN has faced pressure in recent years as viewers cut the cable cord and the cost of sports rights has gone up. Disney declined to comment on the reported discussions with the leagues.
Speaking of sports news, Digiday has a look at how publishers are dealing with the time zone difference during the FIFA Women’s World Cup.
Altice USA Considers Sale of Cheddar News
TheWrap | Lucas Manfredi
Cable giant Altice USA is exploring strategic options for Cheddar News, including a potential sale. Sources say the company has hired Goldman Sachs to assist with the process and is still weighing its options. Altice published the financial live-streaming news network for $200 million in 2019. Cheddar News, which is aimed at millennials, is available in more than 40 million pay-TV homes and has a network of 1,600 owned and operated screens on 600 campuses. Shares of Altice USA climbed more than 3% following the announcement, but are down approximately 70% in the past year.
Read next: Jeff Bezos, who purchased The Washington Post for $250 million in 2013, has taken a more active role in the paper’s operations this year.
Edith Chapin will be NPR’s Senior Vice President of News and Editor in Chief, overseeing the outlet’s journalism and journalists around the world and across platforms. Chapin has worked in journalism for more than three decades and joined NPR in 2012 to lead the International Desk. Most recently she had been serving as Vice President & Executive Editor at Large, with a focus on working on fundraising initiatives related to NPR’s strategic priorities in news. “Edith is a tremendous news leader,” said NPR President and CEO John Lansing. “Under her leadership as interim head of News, NPR’s newsroom has excelled covering the war in Ukraine, ever-changing public health concerns, natural disasters of all kinds, and more.”
More personnel news: Less than two weeks after Alden Global Capital acquired The San Diego Union-Tribune, “the exodus of talent has started.”
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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.