<![CDATA[Gawker: valleywag, barry+diller]]> http://tags.gawker.com/assets/base/img/thumbs140x140/gawker.com.png <![CDATA[Gawker: valleywag, barry+diller]]> http://gawker.com/tag/valleywag/barrydiller http://gawker.com/tag/valleywag/barrydiller <![CDATA[Is Ricky Van Veen Spending Too Much Time with Ben Silverman?]]> Ricky Van Veen announced the production schedule for his brand-new TV studio, and it would appear the CollegeHumor founder believes the future of the small screen lies in the past, because he's unleashing a mess of game shows.

Maybe Van Veen has been spending too much time with his purported bestie Ben Silverman, the former NBC executive who takes credit for the likes of Who Wants to Be a Millionaire? and Weakest Link. Because we can't imagine Van Veen's media sugar daddy Barry Diller envisioned this sort of thing when he funded Van Veen's studio, Notional, four months ago. It's such a retro format for a "multi platform" studio that's supposed to be inventing the future. Here's some of what's slated:

  • "READY, SET, DANCE!: In partnership with a major production entity, "Ready, Set, Dance!" is a first-of-its-kind dance competition series that seamlessly combines the web and television."
  • "YOU VS. AMERICA: Currently in development, 'You vs. America' is a ground-breaking game show that innovatively combines the immediacy of the internet with the excitement of a network primetime television game show."
  • "CHASE THE MONEY: "Chase the Money" is an epic scale reality game show that combines the pratfalls of a classic prank show with the simplicity of a child's game of 'Tag'."
  • "LOVE TAXI: The dating show that takes place entirely in a taxicab. "

Actually, now that we think about it, the dancing one was probably Barry "Twinkle Toes" Diller's idea in the first place.

(Pic: Van Veen, by Zach Klein)

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5407591&view=rss&microfeed=true
<![CDATA[Ben Silverman's New College Buddy]]> As an NBC chairman, Ben Silverman once mingled with true media titans. But now the fallen mogul rolls with a different crowd; we hear he's besties with CollegeHumor editor-in-chief Ricky Van Veen. Now they might be in business together.

Ad Age reports (via) that Silverman might take over CollegeHumor at the behest of Barry Diller, who bankrolls both CollegeHumor and Silverman's new online venture. Van Veen, meanwhile. is transitioning out of CollegeHumor and into his own Diller-funded media startup, Notional, which sounds a lot like Silverman's Electus (both have something to do with online video production).

We're told Silverman and Van Veen have been working very closely together and talking to each other every day. Perhaps a grander merger is in the works that would combine Electus, Notional and CollegeHumor into one venture. Silverman may have been ousted from old media, but he could still be lord of the new media flies. Especially within a venture that actually celebrates a refusal to mature, an inability to grow emotionally and a proclivity for partying to excess. Those are Ben Silverman's specialties, right there.

(Pics: via Getty, Webbyist)

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5397915&view=rss&microfeed=true
<![CDATA[Google Co-Founder Kind of a Jerk in Person, Says Fellow Billionaire]]> It's so fun to see the media wars play out in actual tiffs between actual human beings in actual rooms together. Take this passive-aggressive clash between Google's Larry Page, programmer, and IAC's Barry Diller, onetime movie mogul.

Media writer Ken Auletta explored the purported arrogance of Page and co-founder Sergey Brin in his Google book. From an exceprt in the New Yorker (subscriber-only link):

Diller... recalled visiting Page and Brin in the early days of Google. Diller was disconcerted that Page, even as they talked, stared fixedly at the screen of his P.D.A. "It's one thing if you're in a room with 20 people and someone is using his P.D.A.," Diller recalled.

"I said to Larry, ‘Is this boring?' "

"No. I'm interested. I always do this," Page said.

"Well, you can't do this," Diller said. "Choose."

"I'll do this," Page said matter-of-factly, not lifting his eyes from his handheld device.
"So I talked to Sergey," Diller said. "I left thinking that more than most people they were wildly self-possessed."

Then a couple of years later, the co-founder of Twitter, who used to work at Google, straight up "laughed" at Diller, at a conference. Barry Diller gets no respect from the kids these days.

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5387097&view=rss&microfeed=true
<![CDATA[Twitter CEO's Mockery: We 'Were Laughing at Those Media Guys']]> Twitter's revenues will be just $4 million this year, according to a new Wired feature story. But that's not going to crimp its co-founder's swagger: Evan Williams knows Twitter will be huge, and has words for anyone who says otherwise.

In an interview with Wired's Steven Levy, Williams lashed back at two traditional media fogeys who pooh-poohed his company's potential at the Sun Valley schmoozefest in July. Barry Diller, of IAC, and John Malone, the satellite TV mogul, said the microblogging service would never make much cash.

"I didn't argue my case," Williams says. "But all the Internet guys there were laughing at those media guys. Are you kidding? Do you understand how money flows to the Internet? When you know that Twitter is a vehicle for directing information and traffic to large audiences, you realize there's obviously a huge business."

And, hey, that's coming from a guy who made four whole million dollars last year, old media people, so you better listen up. These guys have spreadsheets that would blow your minds.

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5385352&view=rss&microfeed=true
<![CDATA[Barry Diller Just Bought This Kid a TV Studio]]> At the ripe old age of 28, Ricky Van Veen is finally putting CollegeHumor.com behind him. He's leaving the site he co-founded and starting a production company called Notional. But the young man remains in Barry Diller's well-padded nest.

Diller will play sugar daddy to Notional; the IAC chairman will fold it into his ConnectedVentrues division, alongside CollegeHumor.com. The video content will be similar — cheap to make, zeitgeisty — but on television proper rather than the Web. Read: Potentially more lucrative. Reports PaidContent:

The focus will be unscripted programming, broader than comedy aimed at young males that they have been known for, and will include all genres.

Van Veen will report directy to Diller. The elder mogul has run Paramount, Fox and USA Broadcasting and no doubt relishes the chance to bestow his knowledge on an adoring young acolyte. One imagines Diller might become something of a father to Van Veen. Or perhaps more like a stepfather.

(Pic: Van Veen, by Nick Gray)

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5322511&view=rss&microfeed=true
<![CDATA[Barry Diller Will Cater to Very Specific Sexual Tastes]]> The image associated with this post is best viewed using a browser.After pawning off his highbrow cultural shopping newsletter on the New York Observer, what does Barry Diller buy? Sites for people with fetishes for the "Big and Beautiful," Black Baby Boomers and Italians. Diller, after all, knows from picky. (Pic)

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5309300&view=rss&microfeed=true
<![CDATA[Typo, Filler Ad, Mainstream Movie Herald New York Observer's Second Very Short List]]> How is shopping newsletter Very Short List doing on the second day under the New York Observer's ownership? Poorly enough to motivate mogul wannabe Jared Kushner to hire some dedicated staff, perhaps.

Kushner's assigned an Observer staffer to put out the newsletter, on top of her regular duties, for no extra pay. Insane! Which is why we don't blame said staffer for the mangled subject line on today's VSL — or for any of its other issues with the second VSL mailing of the Observer era.

We also noticed the newsletter is back to running ads for Design Observer, the blog we're told is run by VSL founder Kurt Andersen's friends and thus likely not forking over much, if any cash for VSL exposure. Presumably the Observer sales staff is hard at work finding new advertisers.

Finally: A plug for Two Lovers, a hidden gem of a movie that's barely been reviewed in all the major papers and features an up-and-coming young actor named Joaquin Phoenix. Welcome to the "smart set!"

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5292712&view=rss&microfeed=true
<![CDATA['The Observer's Very Short List' Proudly Brought to You by the New York Observer]]> The first edition of email newsletter Very Short List is out for the first time under the control of New York Observer publisher Jared Kushner. What advertiser do you think he lined up?

Why the New York Observer itself! The high-brow culture newsletter has been, as was expected, renamed "The Observer's Very Short List," though the art at the top obscures that banner change.


Confirming our earlier reporting, IAC officially announced that the New York Observer will take over Very Short List. Despite its all-star founders, the email shopper reportedly sold cheap.

Observer owner Jared Kushner picked up VSL for somewhere under $1 million, a source tells the New York Post. In comparison, Daily Candy, which inspired VSL, sold last year for $125 million. The sales price must vex the VSL founding team Barry Diller (of IAC), Kurt Andersen (of Spy and New York) and Michael R. Jackson (the British television producer). On the other hand, at least they didn't have to shut the thing down.

The Post put Kushner's stake at 80 percent. Kushner told the Post he planned to shut down VSL's niche spinoff lists, like "VSL:Science," and concentrate on trying to make money off the core property, which will be renamed "The Observer's Very Short List." Kushner's not sweating that fact only one-fifth of subscribers are said to open their copies of VSL:

Kushner declined to comment on VSL's open rate, but said that it was above industry average and compared favorably to peer group newsletters like Daily Candy, Thrillist, and Flavorpill.

Of course, unlike the new VSL, those lists have the advantage of being published by more than half a staffer.


(Pic: Rubenstein)

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5291176&view=rss&microfeed=true
<![CDATA['Very Short List's Been Sold To Jared Kushner, We're All Fired.']]> The image associated with this post is best viewed using a browser.A source writes in: ink on the long-rumored deal selling IAC property Very Short List to Jared Kushner and The New York Observer's dry. VSLers have been fired, and the property's clumsily fallen into the Observer's hands, now. Update: confirmed.

The deal slinging Barry Diller's attempt at reaching for some of that Daily Candy scrilla, Very Short List, was officially finished around Thursday night, we hear. Brief history: Diller, pissed on missing out on some of that email-blast money that he thought would be a shoo-in for solid ad sales with Daily Candy, decided to form a literal, cultured, once-a-day mailer for high-minded consumers to read. Diller, ever fond of his media buddies, got Spy-founder Kurt Andersen to jump on board. And it was highly enjoyable!

But then they didn't make any money off of it, and had to find an easy mark to unload it on. Enter New York Observer boy wonder Jared Kushner, stage left. Cut to: Thursday night. Six full-time VSL employees are given notice to pack their boxes, and get their shit out, as Friday would be their last day. After a messy, messy ordeal. A (now former) IAC employee writes in:

Timeline: We get a bunch of emails Thursday morning. At 10AM, the GM said he might have news (at 6PM, that news would finally be delivered). Someone else said that the deal had already gone through, and that it was finally over. And yet someone else said that we still had assignments for the next week, so it would stretch for another week. And then we heard that the person who was supposed to take over at the NYO had been fired the week before in their bloodbath. So nobody knew anything. Thursday night, the news came through. Our last day was Friday, after SIX WEEKS of being told we were going to be laid off. The worst part: some of us were on the phone with the NYO's people on Friday, trying to teach them how to do our jobs.

The image associated with this post is best viewed using a browser.

Very Short List recently won a Webby Award! :)

But now Observer staffers - who're probably a little overworked since a grip of their most able colleagues were fired - are going to be running Very Short List. :( So who knows what's actually going to happen to the mailer, or what the Observer plans on turning it into.

Most people familiar with the deal are pretty shocked by it, and by how easily Kushner was rolled on this one. The fact that the young mogul thinks he can make money off of VSL where Diller - with all of his resources - didn't is pretty incredible, and rather audacious. Lesser so is the fact that Kushner just fired a stable of some of the most able writers in New York, possibly capable of turning the Observer's web presence into a viable product. Right before acquiring VSL, something - again - actually proven not to make money.

Among other problems IAC had with Very Short List: the only people who have time to look at some bullshit emailer telling them what to read are broke writers like me, who don't have the money to spend on advertisers' products. Besides which, I already know what book I'm buying next week, because I have the time to figure it out. The high-minded, high-income consumers VSL originally set out to target are actually out there earning money, and are too busy to look at an email telling them how to spend it (besides which, they can typically suss that kind of thing out for themselves). So instead VSL had to depend on a niche audience, and at last count, that was only 200,000.

No telling how many people are going to hit that "unsubscribe" link over the next few mornings as VSL does (or doesn't) begin to hit their in boxes, quality control of the thing in check, or otherwise. For that matter, The Observer's daily mailer, too.

Update: Just found out that Sara Vilkomerson, a onetime VSL editor, will be working on the product at the Observer, where she already is. She'll be working on it there on top of her current responsibilities for no additional pay. And an email, sent to 30 or so VSL staffers, stringers, etc. that went out today:

Dear Team VSL:

Needless to say, this has been an intensely bittersweet week. Last Monday we picked up our Webby, which was the sweetest part, and testament to how inspired your work has been. Tomorrow, The New York Observer is taking over majority control and day-to-day management of VSL from IAC. Unfortunately, as part of the transition, they will not be taking any of VSL's existing staff. But as this extraordinary team disperses, we wanted to tell you how incredibly grateful we are for everyone's great work and dedication to this project. We are very proud of it, and aware of just how hard everyone has worked.

We're also pleased that Very Short List will endure — and sincerely hopeful that it can maintain the remarkable standard of excellence established by all of you, so that our 200,000 subscribers will continue being uniquely surprised and enlightened and entertained every weekday.

Thank you. And let's raise a glass together soon — date and place TBD.

Kurt Andersen, Gary Foodim, Michael Jackson, Emily Oberman and Bonny SIegler

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5290241&view=rss&microfeed=true
<![CDATA[The Very Long Con of a Very Short List]]> The image associated with this post is best viewed using a browser.Barry Diller's effort to pawn off Very Short List, his failed shopping newsletter for the rich, is turning into a classic New York media folly — a big drama over a puny digital property.

Very Short List was, from the beginning, an act of hubris. In 2007, Diller failed to buy Daily Candy, losing out to former AOL executive Bob Pittman. So the IAC chairman decided to round up some buddies and start and shopping list of his own. If Dany Levy could make a mint, why couldn't they?

Besides, VSL would be highbrow where Daily Candy was mass market, targeting a "smart set" of billionaires looking for a shortcut to cultural literacy. Diller is said to have seeded the list with own rich friends, but the early results were unimpressive, at least from a media standpoint: The list reportedly had collected just 20,000 subscribers.

By last year it was up to 100,000 subscribers; now it's 200,000. No matter: It's widely believed a dud, with no real revenues to speak of. Diller needs to dispense with VSL. Which means he needs, as P.T. Barnum would put it, a sucker. Luckily, he may have found one.


A quick sketch of the characters in this shakedown:


The image associated with this post is best viewed using a browser.Barry Diller - The wily old ringleader. A consummate dealmaker who got the better of his evil master John "Darth Vader" Malone in a court fight over IAC. VSL was once his favorite toy; he once told a reporter, ""Without Very Short List, I would be much diminished." But he's moved on. He's putting $18 million into the Daily Beast, his new favorite toy.


The image associated with this post is best viewed using a browser. Michael Jackson, the legman. A highflying television executive in Britain, Jackson has been vexed by the failure of VSL.A sale would help Jackson save face. After all, he co-founded VSL and has overseen it at IAC.

Yes, VSL has 200,000 email addresses. But one source tells us only 40,000 of readers open a typical mailing. And Jackson would appear to have fallen out with Diller, losing his title as IAC's president of programming right around the time Tine Brown came on board for the Beast. We hear his remaining portfolio at IAC consists entirely of VSL.


The image associated with this post is best viewed using a browser.Kurt Andersen, the pretty girl (a.k.a. the bait). Like Diller and Jackson, Andersen was also a founder and also wants to save face. But he has a unique asset: His experience as a founder and writer at places like Spy, New York, the New Yorker and Inside.com help make VSL — or at least a meeting with VSL — attractive to prospective rubesinvestors or buyers.


The image associated with this post is best viewed using a browser.Jared Kushner, The Mark. The 28-year-old media mogul came into possession of the New York Observer just as the newspaper industry entered its death throes. He's rumored to be in talks with Diller about a joint venture.

While Kushner is likely impressed with VSL's 200,000 subscribers, he should ask IAC for specifics about the list's "open rate" — the number of subscribers who actually read it. Then, if he still wants to buy after learning only a fifth of readers do so, he should ask about those frequent ads from the blog Design Observer. Run, we hear, by Andersen's friends, the site is unlikely paying much, if anything, for the spots.

It might just be too late: Observer scuttlebutt has it that the "joint partnership" would amount to the newspapers' remaining staff writing the VSL. In that case, chalk another one up for Diller, an operator no more ruthless than his New York peers would expect him to be.

(Michael R. Jackson pic via Cityfile; top Diller pick by Esther Dyson on Flickr.)

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5287388&view=rss&microfeed=true
<![CDATA[Barry Diller's Not-So-Exclusive 'Very Short List']]> Very Short List has been a favorite bauble of Barry Diller since the IAC chief established it nearly three years ago, after failing to buy Daily Candy. He envisioned VSL as a smart, tidy newsletter. But it looks worrisomely distended.

The email publication appears to have been bulking up dramatically. When last we checked it had 20,000 subscribers, too few to get much attention from advertisers. A year ago, VSL contributor Kurt Andersen told Charlie Rose it was up to 100,000 subscribers.

We checked in today with VSM general manager Gary Foodim, who says the list is up to 200,000 subscribers.

Tenfold growth is a commendable achievement for a list that targets a "smart set" of well-to-do would-be sophisticates. The question is whether VSL still has any claim on that set or whether, as we hear, the list has been diluted with users from other IAC brands, resulting in an open ad rate surprisingly low for a database of upscale consumers. One anecdote making the rounds even says that Diller's friends have abandoned the service; of 25 buddies he used to seed the VSL list, all but one is said to have unsubscribed.

Apparently retaining at least some highbrow airs, VSL hasn't responded to our request for comment on that scuttlebutt.

But it's easy to imagine that Diller, who once said he would be "much diminished" without VSL, has moved on. Rumors that he wants to offload the site have been rife this year. Now VSL is said to be in talks with Jared Kushner's ailing New York Observer. And Diller would appear to have a new favorite toy, judging by the $18 million he's feeding into the bonfire that is Tina Brown's Daily Beast.

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5286295&view=rss&microfeed=true
<![CDATA[Barry Diller: Picky Eater]]> Heterosexual business magnate Barry Diller was a guest on CNBC's Power Lunch today, which was shot on location at the Four Seasons. And he freaked out when they tried to make him eat.

When a waiter approaches Diller with a plate, he sniffs, "You're actually bringing food?"

Then he goes crazy for just a second: "They wouldn't let me—if even take one bite of that, somebody will come and put a fork in my neck." The "fork in the neck" bit is a classic manorexic avoidance technique.

When the interview ends, he looks down and says, "I'm not eating that stuff."

[Via Silicon Valley Insider.]

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5215264&view=rss&microfeed=true
<![CDATA[Ticketmaster lays off an estimated 1,000 employees]]> The layoffs are moving up the food chain, from the startups to the larger tech beasts. FuckedStartups writes that Ticketmaster is laying off 35 percent of its 3,000-plus staff, which squares with other reports I've heard. Ticketmaster is besieged with competition from concert promoter LiveNation, and was recently spun off by IAC. If I had to bet, I'd say these cuts have as much to do with removing the layers of cruft which accumulated under years of flitty mismanagement by IAC CEO Barry Diller as they do with the economy.

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5066677&view=rss&microfeed=true
<![CDATA[Barry Diller blames investors for IAC stock price]]> Buried in a Wall Street Journal interview with Barry Diller, CEO of the ever-shifting Internet conglomerate IAC, which owns Ask.com and some other websites, was a nugget of insight revealing what Diller thinks of the people who invest in his company. Asked about IAC's stock performance, he replied:The truth is the market made judgments, and the recent judgments have been poor. There were legitimate reasons for that. Now, there are operating facts about this company that are irrefutable: It has revenue, it has earnings, it has a lot of cash and no debt.

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5060138&view=rss&microfeed=true
<![CDATA[Is Ask.com feeling lucky?]]> Ask.com's latest revamp, unveiled by CEO Jim Safka to the New York Times, attempts to dive deeper into the Web, pulling "structured data," a fashionable buzzword, from sources like TV listings and health databases. Give Barry Diller's scrappy search engine, owned by his IAC conglomerate, this much: When at first it doesn't succeed, it tries, tries, tries again. But you can't blame the market, or users, for finding all this trying, well, trying.

Safka's example — a search for the popular tween star Miley Cyrus which yields TV listings for her Hannah Montana show — looks convincing, at first glance. Neither Yahoo nor Google show TV listings in the first page of search results. But Googling "Miley Cyrus TV listings" readily pulls up a page on TVGuide.com.

Ask.com's strategy relies on the notion that a small team of engineers and product managers can guess what users want, find the right databases to pull the information from, and assemble it more effectively than the dominant search engine's algorithms. It's a romantic notion of man vs. machine. But I seem to recall John Henry died at the end.

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5059429&view=rss&microfeed=true
<![CDATA[Barry Diller shows the children his Zwinky Cuties]]> At an oh-so-pink party in Times Square yesterday — one stuffed with enough cupcakes to Google's Marissa Mayer proud — IAC launched a virtual world for girls aged 6 to 12, calling it Zwinky Cuties. Barry Diller presided and I captured the bizarre affair in video.

Zwinky Cuties is free to enter, but little girls who want to dress their avatars in the latest fashions will need to pony up $5.99 a month. Worry about turning our children into consumer drones, but don't worry about the pedos, says IAC exec John Park. Zwinky Cuties is "entirely safe and really designed for young girls," he says. Does Mr. Park have a Zwinky? "I do. He looks twenty years younger." Park would not show his Zwinky to us. IAC CEO Barry Diller, who showed up to the event and made a speech to press and a crowd of bored IAC spawn, said: "I guess it would be clear that I do not qualify to join Zwinky Cuties or if I did I would probably be arrested." Then Disney's latest 20-something pop star took the stage, said she was proud to be a role model, and began to sing a song to the children about a cute, but shy boy who hangs out by his locker. Men in sports jerseys stopped and stared in through the studio's windows. They waved and took pictures with their cell phones.

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5050908&view=rss&microfeed=true
<![CDATA[You know little boy, I have much I can teach you]]> At the Diane von Fürstenberg show at New York's Fashion Week, Google cofounder Sergey Brin and his 23andMe cofounder wife Anne Wojcicki were spotted front and center. Which is hilarious, since Brin is rarely seen in anything but a t-shirt and jeans — hopefully he wore more stylish footwear than Crocs. Here he's spotted in the usual ensemble with Barry Diller, CEO of IAC, who had the sense to wear actual fashion. Friday's winner was hmann with "No, it's $40 for one song. You have to buy your own drinks, and there's no touching." (Photo by Getty/Michael Tran)

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5046997&view=rss&microfeed=true
<![CDATA[Is Opentape a jab at the RIAA?]]> Following the shutdown of Muxtape, a site for posting online mixtapes, in a dispute with the music industry, someone has launched Opentape.fm, where you can download code to easily create your own Muxtape-like online mixtapes of MP3 files. And if the creators of Muxtape aren't directly responsible, they probably fed Opentape's developers everything they would need. The first clue is that the site is powered by the favored online publishing platform of millennial hipsters, Tumblr. Another clue is that the domain registration information points to 152 W. 57th Street in Manhattan, which just happens to be IAC CEO Barry Diller's address (Justin Ouellette, Muxtape's founder, worked at IAC site Vimeo). Then there are two small hints in the code:

The site uses a package of Javascript, Mootools, which was also used by Muxtape. And in the source code, an HTML comment reading "Liberating taste" appears where an ASCII graphic appears in the Muxtape source code. The launch of Opentape is likely a tactic in Muxtape's fight against the RIAA. It puts the record industry trade organization in the position of having to play whack-a-mole as mixes pop up on numerous clone sites using the open-source software. It also means that Muxtape's backers no longer have to shoulder the site's soaring bandwidth costs.

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5041823&view=rss&microfeed=true
<![CDATA[Tina Brown To Release The Beast]]> Tina Brown has worked in the US for more than two decades, since taking the helm of Vanity Fair in 1984; and she's now attempting to reinvent herself for the internet. But Lady Evans, as the 55-year-old former magazine editor is also entitled to call herself, remains at heart a Brit of an earlier generation, pickled in ink and arch wit. Her forthcoming news site, backed by old patron Barry Diller of IAC, is to be dubbed The Daily Beast, after the shameless tabloid of Evelyn Waugh's 1938 novel Scoop. The Digg kiddies will be so confused.

Incidentally, the site's branding was outed by Tina's friend, octogenarian gossip columnist Liz Smith. Having been burned by the backlash against Talk magazine—the glossy backed by Harvey Weinstein which Tina Brown launched with massive hype and one of the most lavish parties in magazine history—Manhattan's "queen of buzz" has been more discreet in the preparation of her first web venture. One assumes that Liz Smith forgot the sneak peek of the website was supposed to be for her eyes only—though Tina Brown can hardly complain about Smith's discretion, having pressured the ancient New York Post gossip writer to come out as a lesbian for an early issue of Talk.

No doubt The Daily Beast will invite comparisons to the newspaper of Waugh's novel; already Liz Smith compares the IAC mogul backing Tina Brown to a character in Scoop, proprietor Lord Copper; and there will be easy jokes to make whenever Brown's news site makes an error or hypes a story.

But I was reminded more of the scene in Scoop in which the hapless hero goes on an extravagant shopping trip before heading to Africa to cover the war, buying six linen suits, surgical instruments and a portable humidor. Waugh, himself a foreign correspondent during the Italian invasion of Abyssinia, once said: "There are few pleasures more complete, or to me more rare, than that of shopping extravagantly at someone else's expense."

That quote could serve as a statement of editorial principles for the notoriously profligate Tina Brown, who happily doubled writers' contracts to lure them to Vanity Fair and the New Yorker. The Daily Beast has already run through a series of expensive design consultants and employs about half-a-dozen staff its office in IAC's Gehry-designed office palace. During her magazine career, Tina Brown shopped at the expense of Conde Nast's Si Newhouse; reinvented as an internet entrepreneur backed by Barry Diller, she's still spending other people's money.

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5034239&view=rss&microfeed=true
<![CDATA[IAC down more than half a billion in second quarter]]> In the second quarter, IAC swung from a $94.6 million profit last year to a $421.6 million loss this year. Don't blame Jakob Lodwick! His former company, Vimeo, is nowhere near the top of IAC/InterActiveCorp's expense report for the past quarter. The real problem at Barry Diller's Internet empire is Cornerstone Brands, a rollup of catalog companies undermined by weak consumer spending in home and apparel retail. Cornerstone's losses led to a $300 million writedown in goodwill in IAC's second quarter. In addition, the soft real estate market cut revenue for home financing site LendingTree nearly in half.

IAC is moving ahead with plans to spin off four of its divisions by the end of August: HSN (which includes Cornerstone), Ticketmaster, Tree.com (which includes LendingTree), and Interval Leisure Group, which operates vacation sites including ResortQuest Hawaii. That leaves IAC with Ask.com, Match.com and Citysearch. What's happening? Simple: Diller and company have learned that bundling a bunch of diverse online businesses together doesn't create the promised "synergy" of the Web 1.0 boom. Better to let each site fend for itself. Since IAC got rid of Expedia in 2005 (Barry Diller's still chairman of the board), the travel site's ups and downs have closely followed the travel market. That's the watercooler version. You can wonk out with the full details.

]]>
http://gawker.com/index.php?op=postcommentfeed&postId=5030916&view=rss&microfeed=true