Vanity presidential candidate purchases media outlet to gut it
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Well, you can’t say that he’s off brand:
Journalism has had a rough year full of layoffs across the country, and Bloomberg Media, the company owned by the latest entrant in the 2020 Democratic primary, just made life worse for a handful of reporters.
Earlier this week, Bloomberg Media announced its first acquisition in more than a decade, buying CityLab, an offshoot website of the Atlantic that reports on a variety of areas—development, housing, transit, the environment—from an urban policy perspective. And as part of that purchase, it appears half of the website’s editorial staff could lose their jobs. According to several CityLab staffers who spoke to Mother Jones on the condition of anonymity, they have been told by Atlantic management that after the sale is completed at the end of this month only seven people will make the transition—not enough jobs for CityLab’s 16 employees: 13 full-time staff and three contractors. The staffers were informed that they each would have to interview with Bloomberg Media management this week to keep their jobs.
People are asking good questions about @CityLab. One point folks are missing: @TheAtlantic laid off the entire staff this week.
Some folks here hope to get jobs with the new owners. But most staffers will need other jobs. Because we all just got laid off. https://t.co/nM05DXMuAI— .@kristoncapps (@kristoncapps) December 13, 2019
Maybe he can hire Jim Spanfeller to finish the job! In fairness to Bloomberg, maybe he’s noticed how Deval Patrick’s From Mitt Romney’s Chop Shop to the White House campaign has acquired the momentum of a runaway freight train and he just wants to get in on the action.
In related news, it’s appalling how much money that could be used for some progressive cause the two redundant billionaires in the Democratic race are setting on fire for their vanity campaigns:
TV ad spending by 2020 Democrats, through 12/17:
Bloomberg – $84.7 million
Steyer – $79.5 million
Sanders – $8.4 million
Buttigieg – $7.1 million
Yang – $4.2 million
Biden – $2.1 million
Warren – $1.9 million
Klobuchar – $1.8 million
Bennet – $1.1 million
Gabbard – $1 million— David Wright (@DavidWright_CNN) December 9, 2019