From Jeremy Barr @jeremymbarr
New: Employees at Scientific American magazine were told this morning that their publication is being sold to LabX Media Group.
There will be layoffs as part of that process, according to a memo sent to staffers: “As part of that transition, LabX has evaluated the organizational structure it believes is necessary to support the business going forward. Unfortunately, this means that not all current employees will be transitioning to the new company.”
“It’s not been a decision that’s taken lightly, and it wasn’t certainly an easy decision,” a member of the Springer Nature management board (existing parent company) told employees in a meeting this morning.
As far as I was able to find, Bob Kafato and Ken Piech are listed as founders. Besides that, a quick search did not come up with too much information on their networth, unfortunately
In addition to LabX, the group includes Lab Manager, The Scientist, Technology Networks, Drug Discovery News, IFLScience, Discover and now Scientific American as far as I could find.
That would explain it. Sold to which billionaire?
Scientific American was sold to LabX Media Group, which also acquired Discover magazine in 2024.
Layoffs were expected:
SciAm staff tried to unionized in April with WGAE (Writers Guild of America East), but it seems that in the end, 15 staff were cut out of around 40, and union busting measures were taken by the new owners
As far as I was able to find, Bob Kafato and Ken Piech are listed as founders. Besides that, a quick search did not come up with too much information on their networth, unfortunately
In addition to LabX, the group includes Lab Manager, The Scientist, Technology Networks, Drug Discovery News, IFLScience, Discover and now Scientific American as far as I could find.