Private equity only knows and only cares about money. Starting from that uncontroversial statement, it takes even less imagination and storytelling skills than private-equity-driven G/O Media possesses to predict the ultimate fate of A.V. Club:
Top editorial staff at the Chicago-based A.V. Club, a sister publication to The Onion, are exiting the entertainment website en masse after refusing a mandatory relocation to new offices in Los Angeles.
The seven employees, including the managing editor, TV editor and film editor, all gave the West Coast move the thumbs-down by a Jan. 15 deadline imposed by the A.V. Club’s owner, New York-based G/O Media.
G/O Media, which is owned by Boston-based private equity firm Great Hill Partners, acquired The Onion, A.V. Club and other digital sites from Spanish language broadcaster Univision for an undisclosed price in 2019. Since then, the company has locked horns several times with the Writers Guild of America, East, the union representing editorial staffers at its portfolio of websites.
In October 2019, Deadspin, the irreverent sports website, was all but shut down by a mass exodus of more than 20 New York-based writers and editors who resigned in protest over the editorial direction under its new owners, G/O Media. After a monthslong standoff with the union, G/O Media announced it was relocating Deadspin to Chicago, where it relaunched in March 2020 under the same roof as The Onion.
Well, why would G/O Media care about the current editorial staff? From the perspective of G/O's vacant-eyed suits, A.V. Club is just a series of cash flows, not a group of writers with a 30-year history and a unique perspective on popular culture. G/O cares less about A.V. Club's content than an earthworm cares about Shakespeare. To increase cash flows, reduce costs.
You can't force people to have consciences or empathy, or to care about art or journalism. But you don't have to reward them for apathy.