Media Insider: Newspapers Sue Big Tech, BuzzFeed Stock Tumbles, Snap Launches Minority Accelerator

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

Stack of newspapers

AXIOS | SARA FISCHER, KRISTAL DIXON
Over 200 Papers Quietly Sue Big Tech

Newspapers all over the country have been quietly filing antitrust lawsuits against Google and Facebook for the past year, alleging the two firms monopolized the digital ad market for revenue that would otherwise go to local news. What started as a small-town effort to take a stand against Big Tech has turned into a national movement, with over 200 newspapers involved across dozens of states. Doug Reynolds, managing partner of HD Media, a holding company that owns several West Virginia newspapers, filed the first newspaper lawsuit of this kind in January. As a part of the first lawsuit, Reynolds worked with a coalition of lawyers that agreed to represent newspapers all over the country looking to file similar lawsuits.

In more Big Tech news, Facebook is testing a new “Professional” mode for creator profiles.

BLOOMBERG | GERRY SMITH
BuzzFeed Tumbles in Turbulent Debut for Digital Media

BuzzFeed Inc. shares fell in the company’s first day of trading, a sign investors are wary of the digital media company after a shaky lead-up to its public debut. The stock, which trades on the Nasdaq under the ticker symbol BZFD, was down 12% after surging earlier in the day. BuzzFeed’s debut as a public company not only marks a major milestone for the online media company but is also a sign of how other digital media companies could perform on the public market.

What’s next for media in 2022? Some of the smartest people in journalism share their predictions.

POYNTER | RICK EDMONDS
Lee Says No to Alden Global Capital’s Attempt to Nominate Directors

Lee Enterprises is still fighting to fend off a hostile takeover bid by hedge fund Alden Global Capital. It has rejected Alden’s attempt to nominate a slate of three board directors. Lee said the nominations did not follow the company’s bylaws and would not be honored. This is one more signal that Lee, publisher of 77 dailies including the St. Louis Post-Dispatch and The Buffalo News, is digging in for a protracted fight. Lee previously put in place a shareholder’s rights plan, a so-called poison pill defense that aims to block Alden from increasing its ownership of shares beyond 10% over the next 12 months. Alden and related companies now own a little over 6% of Lee’s stock.

ICYMI: Horizon Media sold a minority stake to two investment firms to fuel further digital and international growth.

TUBEFILTER | GEOFF WEISS
Snap Launches ‘523’ Accelerator for Minority-Owned Content Startups, With $60,000 Grants

Snap has launched 523, its first accelerator designed to support minority-owned content startups and creatives. Snap says it will work with participants to create Discover shows as part of its ongoing DEI efforts. 523 applications are accessible now through Feb. 1, 2022 online, and Snap says 20 participants from around the world will be selected by March 1. Applications will be adjudicated based on the ability to create content at a regular cadence, existing works off of Snapchat, a personal statement, and more. In order to be eligible, companies must have fewer than 20 full-time employees and 2021 gross revenues less than $5 million.

Speaking of DEI: 80% of Canadian newsrooms have no Black or Indigenous journalists on staff, according to the Canadian Association of Journalists’ inaugural diversity survey.

WASHINGTON POST | ELAHE IZADI
The Troubling New Void in Local Journalism – and the Nonprofits Trying to Fill It

States Newsroom, a network of nonprofit newsrooms covering state government across the country, announced plans to nearly double its presence, from its current 25 states to about 40 over the next two and a half years. It will open its next five outlets in Nebraska, Alaska, Arkansas, South Carolina, and Kentucky. It’s also launching “News from the States,” a new online clearinghouse to showcase all its affiliates’ reporting. Each news bureau is run independently, usually by veteran journalists with staffs of about four or five journalists. And each allows other news organizations to republish its work for free.

Read next: The advertising industry is growing at a record pace.

Subscribe to Beyond Bylines to get media trends, journalist interviews, blogger profiles, and more sent right to your inbox.

Maria Perez is director of web operations at Cision. In her spare time, she enjoys kickboxing, baking, and cuddling with her dog Toody.

You may also like...

50 Responses

  1. I am truly thankful to the owner of this web site who has shared this fantastic piece of writing at at this place.

  2. This is my first time pay a quick visit at here and i am really happy to read everthing at one place

  3. Simon Bender says:

    Good post! We will be linking to this particularly great post on our site. Keep up the great writing

  4. Awesome! Its genuinely remarkable post, I have got much clear idea regarding from this post

  5. Zion Houston says:

    I like the efforts you have put in this, regards for all the great content.

  6. Katie Morrow says:

    There is definately a lot to find out about this subject. I like all the points you made

  7. I very delighted to find this internet site on bing, just what I was searching for as well saved to fav

  8. Carson Knapp says:

    I’m often to blogging and i really appreciate your content. The article has actually peaks my interest. I’m going to bookmark your web site and maintain checking for brand spanking new information.

  9. I appreciate you sharing this blog post. Thanks Again. Cool.

  10. Alec Mayo says:

    Pretty! This has been a really wonderful post. Many thanks for providing these details.

  11. Anika Scott says:

    I do not even understand how I ended up here, but I assumed this publish used to be great

  12. Chaim Weaver says:

    I just like the helpful information you provide in your articles

  13. I am truly thankful to the owner of this web site who has shared this fantastic piece of writing at at this place.

  14. This was beautiful Admin. Thank you for your reflections.

  15. I really like reading through a post that can make men and women think. Also, thank you for allowing me to comment!

  16. Thanks for sharing. I read many of your blog posts, cool, your blog is very good. https://accounts.binance.com/ph/register?ref=T7KCZASX

  17. Very well presented. Every quote was awesome and thanks for sharing the content. Keep sharing and keep motivating others.

  18. I appreciate you sharing this blog post. Thanks Again. Cool.

  19. Jovan Zuniga says:

    Awesome! Its genuinely remarkable post, I have got much clear idea regarding from this post

  20. I like the efforts you have put in this, regards for all the great content.

  21. Lola Goodman says:

    I do not even understand how I ended up here, but I assumed this publish used to be great

  22. There is definately a lot to find out about this subject. I like all the points you made

  23. Abdiel Cowan says:

    I appreciate you sharing this blog post. Thanks Again. Cool.

  24. I really like reading through a post that can make men and women think. Also, thank you for allowing me to comment!

  25. Semaj Rhodes says:

    For the reason that the admin of this site is working, no uncertainty very quickly it will be renowned, due to its quality contents.

  26. Great information shared.. really enjoyed reading this post thank you author for sharing this post .. appreciated

  27. I do not even understand how I ended up here, but I assumed this publish used to be great

  28. There is definately a lot to find out about this subject. I like all the points you made

  29. I really like reading through a post that can make men and women think. Also, thank you for allowing me to comment!

  30. naturally like your web site however you need to take a look at the spelling on several of your posts. A number of them are rife with spelling problems and I find it very bothersome to tell the truth on the other hand I will surely come again again.

  31. Dillan Lang says:

    I am truly thankful to the owner of this web site who has shared this fantastic piece of writing at at this place.

  32. Yahir Ali says:

    I appreciate you sharing this blog post. Thanks Again. Cool.

  33. I do not even understand how I ended up here, but I assumed this publish used to be great

  34. Luis Hale says:

    This is my first time pay a quick visit at here and i am really happy to read everthing at one place

  35. Evan Reid says:

    This was beautiful Admin. Thank you for your reflections.

  36. This is really interesting, You’re a very skilled blogger. I’ve joined your feed and look forward to seeking more of your magnificent post. Also, I’ve shared your site in my social networks!

  37. I do not even understand how I ended up here, but I assumed this publish used to be great

  38. Mark Vargas says:

    You’re so awesome! I don’t believe I have read a single thing like that before. So great to find someone with some original thoughts on this topic. Really.. thank you for starting this up. This website is something that is needed on the internet, someone with a little originality!

  39. Dane Lutz says:

    This is really interesting, You’re a very skilled blogger. I’ve joined your feed and look forward to seeking more of your magnificent post. Also, I’ve shared your site in my social networks!

  40. You’re so awesome! I don’t believe I have read a single thing like that before. So great to find someone with some original thoughts on this topic. Really.. thank you for starting this up. This website is something that is needed on the internet, someone with a little originality!

  41. I appreciate you sharing this blog post. Thanks Again. Cool.

  42. Great information shared.. really enjoyed reading this post thank you author for sharing this post .. appreciated

  43. naturally like your web site however you need to take a look at the spelling on several of your posts. A number of them are rife with spelling problems and I find it very bothersome to tell the truth on the other hand I will surely come again again.

  44. Jakayla Ali says:

    I appreciate you sharing this blog post. Thanks Again. Cool.

  45. Hi there to all, for the reason that I am genuinely keen of reading this website’s post to be updated on a regular basis. It carries pleasant stuff.

  46. Mark Vargas says:

    For the reason that the admin of this site is working, no uncertainty very quickly it will be renowned, due to its quality contents.

  47. I do not even understand how I ended up here, but I assumed this publish used to be great

  48. Aldo Peck says:

    I appreciate you sharing this blog post. Thanks Again. Cool.

  49. Good post! We will be linking to this particularly great post on our site. Keep up the great writing

  50. Your article helped me a lot, is there any more related content? Thanks! https://accounts.binance.com/ES_la/register?ref=T7KCZASX

Leave a Reply