VPM Media Corp. purchases Type Weekly

The weekly Richmond was closed by its owner in September

Released

November 18, 2021



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Richmond’s Style Weekly ended on September 8, 2021 but was bought by VPM Media Corp., the parent company of public television and radio station VPM.

VPM Media Corp., the parent company of the Richmond-based public television and radio broadcaster VPM, announced Thursday that it has acquired Style Weekly, the Richmond publication that was bought by owner Alden Global Capital in September after nearly 39 years in print has been closed .

Financial terms were not disclosed, and a VPM spokesperson said he couldn’t say which former Style employees would be returning to the release. According to VPMs Notice, In the coming weeks, VPM will resume publishing art and culture and the local calendar of events on StyleWeekly.com and its Facebook, Instagram and Twitter accounts while evaluating the future of print publishing.

“This acquisition not only represents a strategic opportunity for VPM, it is also an opportunity for nonprofit media to innovate and experiment with new business models that could determine the future of local journalism,” said Jayme Swain, President and CEO of VPM , in a statement.

Style published its own announcement on Thursday Twitter: “With the support of VPM and its talented employees, we are ready to go back to work. You should start seeing stories on our website and social media channels from mid-December. “

Style was sold in 2018 by Norfolk-based Landmark Communications Inc. to Tribune Publishing Co. (then known as Tronc Inc.) along with The Virginian Pilot and Inside Business for $ 34 million. In May, Tribune Publishing was bought by hedge fund Alden Global Capital for $ 633 million. In September, Style Editor-in-Chief Brent Baldwin announced on Facebook that the September 8th issue of Style, already on the stands, would be the final. Started as a monthly publication in 1982, Style was later a free weekly newspaper that Richmond dealt with with its sale to Landmark from 1984 onwards.

It was known as an alternative to the two daily Richmonds newspapers – the Richmond Times-Dispatch and the now-defunct Richmond News Leader – and focused on the city’s food, arts and entertainment scenes. In the years that followed, Style also built a reputation for photojournalism and hard news, as well as popular “You’re Very Richmond If” and “Best of Richmond” features.

“Style Weekly has been an integral part of Richmond’s culture for nearly 40 years,” said Steve Humble, VPM’s chief content officer, in a statement. “Over the next six to eight months, we’ll take the time to listen to readers as we develop a long-term strategy and determine how Style Weekly can best serve the community.”

This is a breaking news item that will be updated.

Editor’s Note: Lori Collier Waran, editor of Virginia Business Associate, editor Richard Foster, art director Joel Smith, graphic designer Kira Jenkins, and account manager Toni McCracken have all previously worked at Style Weekly.

Bitcoin (BTC) value falls after Tesla stops automobile purchases with crypto

Artur Widak | NurPhoto | Getty Images

GUANGZHOU, China – Hundreds of billions of dollars were wiped off the entire cryptocurrency market afterwards Tesla CEO Elon Musk tweeted that the electric vehicle maker would do so Suspend car purchases with Bitcoin.

According to Coinmarketcap.com, the value of the entire cryptocurrency market was around $ 2.43 trillion at around 6:06 a.m. Singapore time on Thursday when Musk made the announcement.

By 8:45 a.m., market cap had dropped to around $ 2.06 trillion and wiped out around $ 365.85 billion. The market has reduced some losses. Since Musk’s tweet, the cryptocurrency market had lost $ 165.75 billion in value at around 9:22 a.m. Singapore time.

In February, Tesla announced in a regulatory filing that it had purchased $ 1.5 billion worth of Bitcoin and planned to accept the cryptocurrency for payments.

Citing environmental concerns Thursday, Musk said Tesla was “concerned about the rapidly increasing use of fossil fuels for bitcoin mining and transactions, particularly coal, which has the worst emissions of any fuel.”

Bitcoin is not issued by a single entity such as a central bank. Instead, it is maintained by a network of so-called “miners”. These miners use specially designed computers that use a great deal of energy to solve complex math puzzles in order to make Bitcoin transactions. Bitcoin’s energy consumption is higher than in some individual countries.

Around 9:34 a.m. Singapore time, Bitcoin It fell more than 12%, according to CoinDesk data, falling below the $ 50,000 mark for the first time since April 24. Despite the recent decline, Bitcoin is still up over 400% in the past 12 months.

Other cryptocurrencies ether and XRP were also much lower.

Musk was a big advocate of digital currencies including Bitcoin and DogecoinThis has helped raise prices over the past few months.

Tesla CEO said the company will not sell Bitcoin and intends to use it for transactions “once mining moves to more sustainable energy.”

Bitcoin has grown in the last year as a company such as square and Tesla announced Bitcoin purchases and large institutional investors entered the cryptocurrency space. Big investment banks like Goldman Sachs and Morgan Stanley have also been looking for ways to enable their wealthy customers to get in Bitcoin exposure.

Kevin Hart’s private shopper accused of spending $1M of actor’s cash on unauthorized purchases

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A personal buyer is alleged to have spent more than $ 1 million on actor and comedian Kevin Hart’s money on unauthorized purchases.

DA Melinda Katz of Queens County, NY announced this week that 29-year-old Dylan Syer has been charged and charged with theft in the Queens Supreme Court. According to Katz’s office, Syer made the illegal purchases from 2017 to 2019.

Syer is charged with grand first and second degree theft, criminal possession of stolen property in first and second degree, identity theft in first degree, and plot of fraud in first degree. If convicted, Syer faces up to 25 years in prison.

According to Katz’s office, Syer first met Hart in 2015. Prior to his arrest, Syer was contracted several times as Hart’s Personal Shopper.

Overall, Syer is alleged to have used approximately $ 923,000 on Hart’s credit cards for unauthorized purchases, in addition to $ 240,000 of the actor’s money on jewelry and watches.

Below is a press release from Queens County DA:

This is a developing story. Check for updates again.

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