This seems as good a time as any to pass on what may, or may not be, new information from my inside source.
Newsweek’s new show runner, the one with the bright idea to reformat and cut staff, had a five-year plan and a cash bank to keep things going until the new failed format “took off.”
Well, it’s not working. They just laid off twenty percent of their remaining management staff. They’re also nearly out of money. More layoffs are expected soon.
Apparently, the ad revenue isn’t there and rackjobbers are canceling left and right.