Renamed Trusted Media Brands, its streaming TV, social media, web, and print platforms collectively reach 100 million consumers worldwide, according to software company Cision. The publishing company has since recorded a 110 per cent growth in earnings in 2021 after implementing rebranding and digital initiatives. It filed for bankruptcy a second time in 2013 to cut US$465 million in debt. Its parent company, Reader’s Digest Association, first filed for bankruptcy in 2009, citing a drop in advertising spending and the debt load incurred in its acquisition. Once the best-selling consumer magazine in the United States in the 1990s and early 2000s, Reader’s Digest has gone through a number of tumultuous years that involved filing for bankruptcy twice. News Corp senior executives partly attributed the restructure to the Covid-19 pandemic, which hit advertising revenues and accelerated a downturn in Australia’s media sector. He closed 36 papers and made 76 online-only as part of a shake-up of his news business News Corp, the roots of which are in Australian newspapers. News Corp’s Australia newspapersĪmerican tycoon Rupert Murdoch shut down dozens of local newspapers in Australia in 2020 and ended print production for most of its smaller publications there. The site was auctioned off for US$1.35 million in 2018 and then brought back to life in July 2021, but it could not escape getting axed in February due to commercial reasons. Finnegan was Gawker’s features editor from 2014-15, moving on to become executive editor of tech-focused site The Outline, which BDG acquired in 2019 and then shut down last year. Gawker settled the case for US$31 million. Gawker had published a video of him having sex with his former friend’s wife.
It was shut down in 2016 after then parent company Gawker Media filed for bankruptcy, following an invasion-of-privacy lawsuit brought against it by former pro-wrestler Hulk Hogan. Gawker, a popular gossip site that helped define digital media in the 2000s, shuttered twice in recent years.
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