Connect with us

Business

Neeraj Khemlani and Wendy McMahon to co-lead CBS News

Published

on

[ad_1]

ViacomCBS has tapped two media executives to oversee its unit responsible for shows like “60 Minutes” and “CBS This Morning” with Gayle King.

The owner of MTV and Nickelodeon named Hearst executive Neeraj Khemlani and former ABC exec Wendy McMahon as co-presidents of CBS News, taking over from current division president Susan Zirinsky after just two years.

Zirinsky, a well-respected TV news producer who inspired Holly Hunter’s character in “Broadcast News,” plans to remain in her current role until the newcomers are acclimated, the company said.

She will then take on a “significant role” at CBS News Content Studio, an as-yet-unlaunched unit that’s expected to be involved in video news production.

For both Khemlani and McMahon, the new gig represents a homecoming.

Prior to moving to Hearst 12 years ago, Khemlani worked as a producer at CBS’s “60 Minutes” for eight years. While at Hearst, he held various roles, including most recently as executive vice president and deputy group head of Hearst Newspapers. He previously oversaw Heart’s entertainment and syndication division responsible for its cable network partnerships with ESPN and A+E.

Neeraj Khemlani
Neeraj Khemlani returns to CBS after moving to Hearst 12 years ago.
Hearst

McMahon spent seven years at various CBS-owned TV stations before moving to rival ABC 12 years ago, where she most recently served as president of ABC-owned TV stations, including oversight of eight broadcast stations and local newsrooms.

Both execs will report to George Cheeks, president and chief executive officer of the CBS Entertainment Group.

“Wendy and Neeraj have the leadership background and cross-platform accomplishments that cover all these important areas, and they share our commitment for supporting superior journalism, optimal delivery platforms and the strongest of organizational cultures,” Cheeks said.

Cheeks had been mulling a co-president role while looking for a replacement for Zirkinsky, who sources say was unhappy with her corporate job and wanted to get back to news.

According to sources, Cheeks offered Zirinsky’s deputy, Kim Godwin, the co-president role, but she was insulted by the thought of sharing the job. Godwin recently nabbed the high-profile job as ABC News president, becoming the first black person to run a broadcast TV news division.

Zirinsky’s disdain for her role as CBS News president has been no secret since she grabbed the reins two years ago. Earlier this week, news leaked out that CBS had come to a mutual decision with Zirinsky to move her back to her journalism roots and out of the corporate hot seat.

Wendy McMahon
After working at rival ABC for 12 years, Wendy McMahon is also returning to CBS.
ABC

Zirinsky, according to Page Six, once went so far as to hold up a piece of paper during a budget meeting that said “I hate my job” in protest of the boring affair.

A source told The Post that Zirinsky’s attitude bled into her work and that she appeared disorganized and scattered during meetings, spending too much money on talent and revamping the network’s last place evening news program, “CBS Evening News” hosted by Norah O’Donnell.

Some sources also claimed that she lacked the finesse when it came to massaging big egos and dealing with gripes by top talent.

CBS News did not comment. Zirinsky couldn’t be immediately reached for comment.

Zirinsky — known affectionately by CBS insiders as “Z” — has also played an important role at the company, including shepherding the career of Gayle King, Oprah Winfrey’s best friend and host of the network’s morning talk show.

It was under Zirinsky that CBS renegotiated King’s contract, rehauled “CBS This Morning,” and sent then-co-host Norah O’Donnell to anchor the evening news amid buzz that the two journalists did not get along.

In his memo announcing the new hires, Cheeks said: “Z has an incredible legacy of making CBS News stronger in every role she served over almost five decades, including meaningful accomplishments as its president. Z took the reins in March 2019 at a moment of turmoil in the division, creating stability and renewing passion for the brand internally and externally.”

Susan Zirinsky's is heading to a "significant role" at the yet-to-be-launched CBS News Content Studio.
Susan Zirinsky is heading to a “significant role” at the yet-to-be-launched CBS News Content Studio.
Getty Images

Zirinsky, who has been at CBS News for nearly 40 years in various roles such as executive producer of crime show “48 Hours,” took the helm following a slew of sexual harassment and bullying claims that embroiled the company

Then-CBS News president David Rhodes departed in early 2019, months after the exits of shamed host Charlie RoseCBS chief Les Moonves and “60 Minutes” boss Jeff Fager.

Touted as an historic hire, Zirinsky was tasked with reorganizing the anchor line up at the network and revving up the ratings for its laggard shows like “CBS This Morning” and “CBS Evening News.”

But much of Zirinsky’s time was spent in meetings, dealing with corporate bureaucracy, job cuts and managing talent instead of amping up the network’s journalism, sources said.

[ad_2]

Source link

Continue Reading

Business

Glasses retailer Warby Parker eyeing IPO as soon as this year

Published

on

By

[ad_1]

Hipster glasses retailer Warby Parker is eyeing an initial public offering.

The 11-year-old business, which started out as an e-tailer before rolling out some 130 stores across the US, is considering an IPO as early as this year, Bloomberg reported on Wednesday.

The New York-based company has amassed a huge customer following by offering less expensive prescription glasses. Warby Parker raised $120 million in its most recent funding round giving it a $3 billion valuation, according to the report.

“We’ve always explored various financing opportunities in both the debt and equity markets,” the company said in a statement. “To date, we have successfully and deliberately raised money within the private market on favorable terms and have plenty of cash on our balance sheet. We’ll continue to make strategic decisions in line with our commitment to sustainable growth.”

Founded by college buddies Dave Gilboa and Neil Blumenthal, who met at the Wharton School at the University of Pennsylvania, Warby Parker has attracted some large investors including the mutual fund company, T. Rowe Price.

It turned it first profit in 2018, Gilboa told The New York Times at the time.

Warby Parker co-founder Neil Blumenthal
Warby Parker co-founder Neil Blumenthal
Brian Ach/Getty Images

Customers can get prescriptions through their apps on their smartphones and use cameras to pick out frames. The company also has an optical lab in Sloatsburg, NY where it produces lenses.

While Warby Parker is not the least expensive option, it beats Costco in a recent comparison with Costco charging as little a $126 for a pair of prescription glasses compared with Warby Parker’s least expensive pair at $95.

“As consumer walk into a LensCrafters or Sunglass Hut, they see 50 different brands of glasses but don’t realize that all those brands are owned by the same company that owns the store that they’re standing in, that probably owns the vision insurance plan they’r using to pay for those glasses,” Gilboa said in a recent CNBC interview.

“And so, it’s no surprise that a lot of those glasses are marked up 10 to 20 times what they cost to manufacture,” he said.

[ad_2]

Source link

Continue Reading

Business

Dogecoin hits new high boosted by DogeDay hashtags

Published

on

By

[ad_1]

Dogecoin prices hit an all-time high on Tuesday, with a market capitalization above $50 billion, after social media fans used hashtags to fuel a rally in the meme-based cryptocurrency.

An 8,000 percent price surge this year has seen Dogecoin, which was launched as a satirical critique of 2013′s cryptocurrency frenzy, overtake more widely-used cryptocurrencies like Tether to become the fifth-largest coin.

While Dogecoin, whose logo features a Shiba Inu dog at the center of the meme, a represents only a fraction of bitcoin’s $1 trillion value, it can be traded on crypto exchanges and more popular mainstream trading apps.

“The Doge rally represents an interesting convergence,” said Diana Biggs, CEO of crypto start-up Valour, after Dogecoin’s price soared by more than five-fold in the last week to a record 42 cents, according to CoinMarketCap.

“A meme coin created as a joke for early crypto adopters whose community found that kind of thing to be fun, with now a new generation of retail investors for whom memes are a native language,” Biggs added.

Dogecoin fans used the hashtags #DogeDay and #DogeDay420 to post memes, messages and videos on Twitter, Reddit and TikTok, referring to the informal April 20 holiday to celebrate cannabis which is marked by smoke-ins and street parties.

“GIMME THAT DOGECOIN LAMBO!!! #DogeDay” one tweeted, referring to the Lamborghini car popular in crypto culture.

Dogecoin’s rise has come amid a surge in online trading of stocks and crypto by retail investors, stuck at home with extra cash because of the COVID-19 pandemic. It has not coincided with a growth in usage of the coin for payments or in commerce.

The same trend has spurred a boom in usage of online trading apps like Robinhood, and also fueled the social-media driven rally in GameStop stock that pitted retail investors against hedge funds earlier this year.

“It’s an extension of the same phenomenon that has led Tesla stock to be valued well beyond fundamentals and more recently to the GME (GameStop) short squeeze,” said Ajit Tripathi, head of institutional business at decentralised finance startup Aave.

Like other cryptocurrencies, Dogecoin’s price is heavily influenced by social media users including Tesla chief Elon Musk, whose tweets on the cryptocurrency in February sent its price soaring over 60 percent.

“If this goes as planned and everybody including Mr. Musk go ahead and just pour money into Doge on April 20th all at once Doge will reach prices that originally were not even conceptual,” a TikTok user said in a video promoting the coin.



[ad_2]

Source link

Continue Reading

Business

Amazon is opening a beauty salon in London

Published

on

By

[ad_1]

Amazon is opening a hair salon in London — its latest odd lurch into new businesses as the pandemic continues to fuel the e-commerce giant’s torrid growth.

The Amazon Salon, unveiled in a Tuesday blog post, will occupy a two-story, 1,500-square-foot space in Spitalfields, a trendy neighborhood in East London that is also home to Amazon’s UK headquarters, which houses about 5,000 employees.

Indeed, the new salon, which will be open seven days a week, initially will only cater to Amazon workers. Members of the public will be able to make bookings in “the coming weeks” by calling, emailing or visiting the salon, the company says.

“This will be an experiential venue where we showcase new products and technology,” Amazon said in a blog post on Tuesday, adding that there are no plans to open other salons.

That will include making Amazon’s Fire tablets available at each station, allowing customers to use augmented reality technology to see what they look like as a platinum blonde, brunette or with highlights, the company said.

The salon is located at Amazon’s UK headquarters, which houses about 5,000 employees.
The salon is located at Amazon’s UK headquarters, which houses about 5,000 employees.
Amazon

The salon will also test new “point-and-learn” technology, where customers can point at a product they are interested in on a display shelf and the relevant information, including brand videos and educational content, will appear on a display screen.

[ad_2]

Source link

Continue Reading

Trending