Matthew Belloni, the former editorial director of the Hollywood Reporter, has joined the management team of a new media startup that will cover finance, politics, technology and entertainment. His landing spot has been the subject of much speculation since Belloni left the Reporter in a dispute with the trade publication’s owners over editorial coverage. There have been rumors for some time that he was interested in striking out on his own.
The new, as yet unnamed, media platform raised $7 million in Series A financing from TPG and 40 North Media. The board includes Jim Coulter, executive chairman of TPG, and David Winter, co-CEO of Standard Industries, 40 North Media’s parent company. Its co-founders include Jon Kelly, a veteran of the New York Times and creator of Vanity Fair’s “The Hive”; Joe Purzycki, a digital veteran of Vox Media and Luminary, who is CEO; Max Tcheyan, an early Athletic employee, who is chief strategy officer; and Conde Nast alum Liz Gough, who is COO.
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Belloni, who was deeply respected in the Reporter’s newsroom for his editorial instincts, will lead Hollywood coverage and related business development. His title is founding partner. The platform will launch this year, with plans to hire an additional 20 reporters. Belloni will kick things off with a pre-launch invitation-only email for Hollywood insiders.
“Just like Hollywood, media is undergoing a dramatic transformation for the digital future,” says Belloni. “It’s super exciting to bring my years of experience to building an innovative new company while continuing to cover an industry I care about so passionately.”
Belloni joined the Reporter in 2006 to launch an entertainment law vertical called Hollywood Reporter, Esq. Rising through the ranks, he became editorial director in 2017. Deadline first broke the news about Belloni’s new venture.
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