Pinterest has hired Barry Schnitt as its new head of communications and public policy. Schnitt had been at Facebook for the past four years, and eight more before that at Google. He’ll start at Pinterest next month. (Excuse the inside baseball, but from a press perspective, Pinterest has been nearly impenetrable lately despite its wide usage and impact.) Continue reading →
Knight Capital Group (NYSE:KCG) has said it is facing pre-tax losses of up to $35 million on trading on the Facebook (NASDAQ:FB) IPO on Friday and is asking Nasdaq’s holding company for compensation equaling that amount. Don’t Miss: Wall Street: Not Everyone Lost Money on Facebook’s IPO. The electronic trader said in a regulatory filing that it was “evaluating all remedies available under law,” including having submitted documents to the Nasdaq OMX Group (NASDAQ:NDAQ), which plans to pay back some losses related to the glitch-ridden IPO. On the opening day of trading for Facebook shares, technical issues with Nasdaq’s trading system resulted in investors being unable to find out if their new orders, changes, and cancellations in a 20-minute period for buying and selling the ... Continue reading →
We’ve known Facebook is serious about photos: Heck, it dropped a cool $1 billion on Instagram, the immensely popular mobile photo sharing app. What we didn’t know, however, is that Facebook was essentially building its own version of a stand-alone mobile photo sharing application, ostensibly to compete with Instagram before it took over the mobile photo sharing world completely. How do I know that? Because Facebook will launch the product this afternoon in Apple’s App Store. It’s called Facebook Camera, and it’s essentially Instagram redux. One, it’s a standalone Facebook application, separate from the Facebook app proper, much like the company’s Facebook Messages app. Facebook Photos product manager Dirk Stoop told me in an interview this morning, it’s an instant portal to one of Facebook’s ... Continue reading →
John Paton may be getting most of the Digital First headlines, but behind the scenes the digital first pressures are building up on publishers on both sides of the Atlantic. Today, we hear that the Newhouse’s Times Picayune is following the “Michigan model,” no longer a “daily” paper, but one published three days a week on paper. That model, launched in Michigan at the beginning of February, has quickly proven itself to Newhouse execs. The principles, if not the execution — or the longer-term impact — are clear: Pare down print days so as to keep 80%-plus of print advertising. Sunday is a natural here, with its heavy preprint business. Those preprints are endangered themselves, but not immediately; they now account for about a fifth ... Continue reading →
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A new company - the NOLA Media Group, which will include The Times-Picayune and its affiliated web site NOLA.com - was announced today by Ricky Mathews, who will become its president. The change is intended to reshape how the New Orleans area's dominant news organization delivers its award-winning local news, sports and entertainment coverage in an increasingly digital age. NOLA Media Group will significantly increase its online news-gathering efforts 24 hours a day, seven days a week, while offering enhanced printed newspapers on a schedule of three days a week. The newspaper will be home-delivered and sold in stores on Wednesdays, Fridays and Sundays only. A second new company, Advance Central Services, will print and deliver the newspaper. Both of the new companies are owned ... Continue reading →