Your Media Morning: Wenner Media is About to be Debt Free, Uber Eyeing Media Bigs For Top Job, A New Magazine For The Hamptons

THE FRONT  MEDIA COMPANIES ARE BEING FORCED TO KILL THEIR SMALLER CABLE CHANNELS. WHY? NBCUniversal’s decision in January to shutter two of the weakest linear outlets in its channel portfolio — Esquire Network and Cloo — was a warning shot that is reverberating throughout the pay-TV jungle. The thinning of the cable-channel herd has begun. Post it Tweet it Share it Forward it Good Media Morning to you. Time Inc is expanding its revenue sources with a new home cleaning product line, Tronc Chairman Michael Ferro is being challenged and much more in this morning's issue. FORWARD THIS ISSUE MEDIA BIGS TOP THE LIST FOR UBER COO GIG Possible targets floated by investors for Uber chief operating officer include former Disney COO Tom Staggs, AOL CEO Tim Armstrong, and Turner CEO John Martin, said a person familiar with the matter. The three men declined to comment. VOGUE'S ANNA WINTOUR WILL SOON HAVE HER HANDS FULL PLANNING A WEDDING Anna Wintour will soon be planning a wedding. Her daughter Bee Shaffer is engaged to Francesco Carrozzini, the son of late Vogue Italia editor-in-chief Franca Sozzani, Page Six confirmed Tuesday. Shaffer, 29, and Carrozzini, 34, first turned heads in October after she attended a screening of his documentary about his mother, “Franca: Chaos & Creation.” The event was co-hosted by Wintour, the editor-in-chief of Vogue. PINTEREST SAYS IT EXPECTS TO GENERATE OVER $500 MILLION IN REVENUE THIS YEAR Pinterest may finally be growing into its $11 billion valuation. Pinterest, which makes all of its money from advertising, is targeting more than $500 million in revenue in 2017, according to multiple sources familiar with the company’s plans. Some believe the company could generate as much as $600 million this year. 25% OF GIZMODO MEDIA GROUP'S REVENUE COMES FROM COMMERCE Gizmodo Media Group, now operating under Univision, has eight media brands, with six comprising the former Gawker Media properties left after that company’s bankruptcy and sale.  Raju Narisetti, brought in from News Corp to run the group, saw strength in its loyal audience — and diversified business model. Gizmodo expects revenue to be up 30 percent this year, with 25 percent of that coming from commerce transactions driven by affiliate partnerships. MAGAZINES GEARED TOWARDS LGBTQ CONSUMERS ARE A MUST HAVE FOR MEDIA COMPANIES Lifestyle magazines aimed at a gay and lesbian audience continue to attract attention from mainstream publishers. Davler Media is buying Metrosource, believed to be among the Top 3 titles nationally aimed at the LGBT crowd. ANOTHER MAGAZINE FOR THE HAMPTONS, BUT THATS NOT ALL Cristina Cuomo is again doing what she does best — starting a new media business and glossy magazine centered on the monied East End of Long Island. Her new title, Hamptons Purist, will debut in the crowded luxe market over the Memorial Day weekend and crank out two more issues — one around July 4 and the second just before Labor Day. THE ECONOMIST NAMED 'DIGITAL TEAM OF THE YEAR' Digital Team of the Year, went to The Economist for the phenomenal year the brand had in 2016. The brand’s digital team delivered three million new readers and is now able to move them toward being committed readers through retargeting. BILLIONAIRE UPS HIS STAKE IN LA TIMES PUBLISHER TRONC, CHALLENGING CHAIRMAN MICHAEL FERRO Biotech billionaire Dr. Patrick Soon-Shiong has upped his stake in Los Angeles Times parent Tronc in a move that could portend an attempt to take control of the media outlet formerly known as Tribune Publishing. Soon-Shiong, who earned his fortune developing cancer treatments, acquired 2 million shares priced at $15 each. He now holds nearly as much Tronc stock as chairman and controlling owner Michael Ferro CROOKED MEDIA LOOKS TO COUNTER TRUMP It’s making so much money from advertising that one of its founders, the former Obama speechwriter Jon Lovett, joked that he didn’t understand all the whining about how hard it is to make money in media. “It’s easy,” he said during an interview with the Recode co-founder Kara Swisher at the South by Southwest festival here last week. “Just start talking and money rolls in.” AD AGE INSTALLS NEW EDITOR Advertising Age has named Brian Braiker its next editor, succeeding Ken Wheaton, who left at the end of December. Mr. Braiker, who starts in his new role early next month, had been executive editor at Digiday since 2013. AFTER ONLY A YEAR, JOE BEL BRUNO DITCHES HOLLYWOOD REPORTER FOR VARIETY Variety has hired Joe Bel Bruno as Managing Editor to help guide the continuing global expansion of Hollywood’s top entertainment news organization across its print, digital, and video platforms. Bel Bruno, who joins Variety’s Los Angeles headquarters on April 10 from his previous role as news director at the Hollywood Reporter, will report to Co-Editor-in-Chiefs Claudia Eller and Andrew Wallenstein. THE FOUNDERS OF MENTAL FLOSS ARE JOINING HOWSTUFFWORKS TO PRODUCE PODCASTS Last month we shared news that the founders of Mental Floss magazine, Will Pearson and Mangesh Hattikudur were departing the company. They have since left and have already landed elsewhere. VIACOM IS ABOUT TO NAME A NEW CEO FOR PARAMOUNT PICTURES  Jim Gianopulos’s ascent to the top of Paramount Pictures as chairman and CEO appears to be close to being made official by the studio’s corporate parent, Viacom — putting the flagging studio in the hands of an industry veteran known for working collegially with talent, agents and business execs. MGM COOKS UP DEAL WITH SNAPCHAT TO PRODUCE ORIGINAL CONTENT MGM Television will be the first major entertainment studio to develop and produce original series for Snapchat’s Discover platform, the companies announced. “The team at Snap is thinking about mobile TV differently than anyone else in this space. They are innovators.” DISNEY'S FORMER CEO WANTS TO BUY A SOCCER CLUB Michael Eisner has launched a bid to buy the Portsmouth football club. The former Disney chief is in negotiations to take ownership of the League Two club. The 75-year-old is eager to become involved in English football through his Tornante investment group. THE FUNNY OR DIE WEBSITE IS CLOSING ITS NEW YORK OFFICES Will Ferrell and Adam McKay’s pioneering Funny or Die website is closing its New York offices. Staff at the nearly-10-year-old comedy site’s East Coast operation were informed that they could either relocate to its Los Angeles offices or be laid off. TIME INC ENTERS THE HOME CLEANING PRODUCTS INDUSTRY WITH 'REAL SIMPLE' Real Simple is marketing the line, called Real Simple Clean, to “busy, time-pressed women.” According to the line’s website, Real Simple Clean is “smart, safe, and easy,” with “carefully chosen ingredients” to “reduce risk to families, pets, and the planet.” Don't forget to share this morning's issue with colleagues and friends by clicking/tapping the button below SUBSCRIBE

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