By Anthony D'Alessandro, Dominic Patten DEVELOPING: Less than a week after Hollywood Reporter editorial director Matthew Belloni exited the publication, owners Valence Media started making staffing cuts at outlets THR, Billboard, Vibe, Dick Clark Productions and finance studio Media Rights Capitaltoday.
At this point in time, we’re hearing that senior ranking reporters and editors remain safe at THR, and those impacted were in Ops.
However, sources say that layoffs “are definitely expected” at the trade in the immediate future and coming weeks. Long beset by rocky finances, THR has taken significant advertiser and other revenue hits during the coronavirus pandemic.
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