Newsmax Media Putting $2 Million Into Expansion Project

by Steven Jessop | 4:12 pm, August 18th, 2010

» 3 comments

When it comes to building his media empire, Newsmax founder Christopher Ruddy must be following the old adage “if at first you don’t succeed, try, try again,” because despite putting in a failing bid for ownership of Newsweek, he’s still making big moves to expand his company.

Newsmax, a conservative monthly print magazine and website, has already done the unthinkable by actually turning a profit over the past few years while the rest of the media world has been hemorrhaging money. And now, Ruddy plans to take some of that revenue – $2 million, according to the New York Post – and use it to expand the Newsmax editorial staff.

Changes in the company will mostly occur in the New York and Washington, DC offices. In New York, Ruddy plans to add 20 or so editorial employees over the next year and a half, while around six will be added to the DC branch. One new employee has already been hired, however: Matt Belvedere, the former head of the video group for US News & World Report, was just put in charge of the Newsmax video news department in Washington, DC.

With profits for Newsmax expected to reach $50 million this year, it looks like Ruddy didn’t need Newsweek after all.

Christopher Ruddy, Matt Belvedere, Newsmax, Newsmax Expansion, Newsweek

http://none pyrope

Shows what happens when a business model is successful: It grows the business.
Arkansas Steve

I once subscribed to NewsWEEK.

After a few weeks, I quit reading it.
When they called for a renewal, I was not kind to the caller, explaining I considered it a PROPAGANDA RAG.
Newsweek continued to send it after my subscription expired, probably so they could LIE to the people who monitor subscription lists for advertisers. Isn’t that dishonest?

Maybe the people at TIME Magazine will learn from this? Maybe not?
http://none pyrope

Hard to say Steve, whether the folks at Time can ever get out of their state of denial that people want clear, objective writing. I’ve mentioned numerous times on this site that all rational people are STARVED for the truth–rational people will go wherever they must to find it. The irriational people tend to seek the slant they most want to believe.

Your anecdote about NewsWEAK reminds me of a subscription I was given to The New Repubic–when it lapsed, they kept sending it to me BUT they tried to bill me for it. Luckily, I recorded the conversation where I told one of their workers that I no longer wished to subscribe. (In case you ever find it necessary to do something like this, what you do when you begin the conversation is to state the date and time of the call and have the individual you’re speaking with to verify the date and time are correct.)