Billionaire Laurene Powell Jobs Cuts Back on Journalism Investments

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Billionaire Laurene Powell Jobs is offloading some of her investments in journalism as the pandemic decimates the media industry.

Powell Jobs' philanthropic organization, Emerson Collective, has cut ties with Pop-Up Magazines Productions, which owns Pop-Up Magazine and California Sunday Magazine. The media company's union revealed the news in a series of tweets Wednesday, adding that California Sunday will be "discontinuing online publication" and that 11 employees "were told they would be laid off."

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