Current:Home > ContactNews website The Messenger shuts down after 8 months. See more 2024 media layoffs. -Wealth Empowerment Academy
News website The Messenger shuts down after 8 months. See more 2024 media layoffs.
View
Date:2025-04-16 06:23:40
The Messenger, an online news site that promoted itself to deliver unbiased and trusted news, abruptly shut down Wednesday after eight months of operation.
Jimmy Finkelstein, the founder of The Messenger, sent an email to its over 300 employees announcing the immediate shutdown.
In his email, Finkelstein said he did not share the news earlier with employees because he had been trying to raise enough funding to become profitable, according to The Associated Press. The New York Times was the first to report the news.
“We exhausted every option available,” Finkelstein wrote in the email, saying he was “personally devastated.”
The Messenger received $50 million in investor money in order to launch in May 2023 with hopes of growing its newsroom relatively fast. With experienced journalists joining their team, Finkelstein's plan was to bring back the old days of journalism that he and his family once shared.
Finkelstein's business model was criticized by many and called outdated, according to the AP.
As of Wednesday, the website only included the company's logo with an accompanying email address.
Here's a look at other media outlets who are starting this year off by slashing staffers from the payroll.
LA Times layoffs
The Los Angeles Times announced Jan. 23 it was laying off 115 employees, more than 20% of its newsroom.
The cuts were necessary because "the paper could no longer lose between $30 million to $40 million a year" without gaining more readership through advertising and subscriptions, Times' owner Dr. Patrick Soon-Shiong said in a story about the layoffs from the newspaper.
“Today’s decision is painful for all, but it is imperative that we act urgently and take steps to build a sustainable and thriving paper for the next generation. We are committed to doing so,” Soon-Shiong said in the article.
Sports Illustrated layoffs
The Arena Group, which operates the Sports Illustrated brand and its related properties, announced on Jan. 19 it was laying off more than 100 employees as it was in "substantial debt and recently missed payments" and was moving toward a "streamlined business model." The company also said Authentic Brands Group revoked its license to publish Sports Illustrated.
On Monday, The NewsGuild of New York and the Sports Illustrated Union announced they are taking legal action against The Arena Group after the massive layoffs.
The two union organizations accuse The Arena Group of terminating employees "because of their union activity." The groups say every member of the Sports Illustrated Union was told it would be laid off, but supervisors and managers kept their employment. The unions also say while most employees were given 90 days notice of termination under New York State law, some employees were immediately laid off. As a result, The NewsGuild of New York filed an unfair labor practice charge against The Arena Group.
NBC News lay offs:See 2024 job cuts so far
NBC News layoffs
NBC News laid off several dozen staffers at the beginning of the year, USA TODAY confirmed.
A source familiar with the plans said that employees were given a 60-day notice and will get severance packages and outplacement.
The layoffs at NBC News, first reported by Puck News, were the latest in an onslaught of cuts made in the journalism industry throughout 2023, including by NBC News, which slashed 75 jobs this same time last year, according to a timeline provided by Forbes.
Contributing: Emilee Coblentz and Jordan Mendoza
veryGood! (75)
Related
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- Texas woman sues Mexican resort after husband dies in hot tub electrocution
- U.S. halts avocado and mango inspections in a Mexican state after 2 USDA employees attacked, detained
- Apple discontinues its buy now, pay later service in the U.S.
- $1 Frostys: Wendy's celebrates end of summer with sweet deal
- Missing toddler in foster care found dead in waterway near Kansas home
- Noam Chomsky’s wife says reports of famed linguist’s death are false
- Girl found slain after missing 8th grade graduation; boyfriend charged
- Jay Kanter, veteran Hollywood producer and Marlon Brando agent, dies at 97: Reports
- What's next for the Rangers after placing Barclay Goodrow on waivers?
Ranking
- IOC's decision to separate speed climbing from other disciplines paying off
- Cooler temps and rain could help corral blazes that forced thousands to flee New Mexico village
- Missouri attorney general says not so fast on freeing woman jailed for 43 years in 1980 killing
- With Heat Waves, an Increased Risk for Heart Problems, New Research Shows
- USA women's basketball live updates at Olympics: Start time vs Nigeria, how to watch
- Copa América 2024: Everything you need to know. Schedule, host cities, betting odds, more
- Krispy Kreme releases 'Friends'-themed doughnuts, but some American fans aren't happy
- What is a 427 Shelby Dragonsnake and why is it being built once again?
Recommendation
Paris Olympics live updates: Quincy Hall wins 400m thriller; USA women's hoops in action
Barry Bonds posts emotional message after Willie Mays' death
Who challenges Celtics in 2024-25 season? Top teams in East, West that could make Finals
Taylor Swift Extinguished Fire in Her New York Home During Girls’ Night With Gracie Abrams
Pressure on a veteran and senator shows what’s next for those who oppose Trump
Birmingham, former MLB players heartbroken over death of native son Willie Mays
Stock market today: Asian stocks are mixed after Wall Street edges to more records
New Boeing whistleblower alleges faulty airplane parts may have been used on jets