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Keith J. Kelly

Keith J. Kelly

 Media
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Newsweek can now add landlord dispute to its list of troubles

By
Keith J. Kelly
Published Feb. 27, 2018
Updated Feb. 27, 2018, 10:46 p.m. ET

The next time investigators from the Manhattan District Attorney’s Office try to raid Newsweek’s offices, they may have to search at a new address.

Newsweek Media Group has been involved in a running legal dispute with Guardian Life Insurance Co. of America over its sublease at 7 Hanover Square in downtown Manhattan — and appears to have only narrowly averted eviction this week with a back rent tab of $348,957.31.

Dev Pragad, the chief executive of NMG — previously known as IBT Media — claims it has been paying its rent for the fifth and sixth floors but that the landlord was refusing to cash its checks.

Judge Margaret Chan of Manhattan state court on Feb. 14 signed an injunction that said the tenant has until Feb 28 to pay “the outstanding rent and additional rent arrears.”

A spokesman for NMG said the company forestalled eviction at the 11th hour by paying the back rent.

“Newsweek Media Group’s landlord discontinued all proceedings and withdrew all notices against the company,” the spokesman said. “Newsweek Media Group is up to date on all rental payments.”

Separately, two more journalists were fired at Newsweek in recent days: breaking news editor Gersh Kuntzman — who was axed by phone on Friday — and national news editor John Seeley, who was let go on Tuesday.

More layoffs are anticipated. “They are thinning the herd,” said one insider.

Kuntzman’s fate may have been sealed when he blasted company co-owner Johnathan Davis at a town hall-style meeting earlier this month for its questionable digital ad traffic, tax liens against top executives and questionable ties to Olivet University, a Bible college founded by followers of controversial cleric Rev. David Jang.

A tape of the session — with Kuntzman questioning Davis — was leaked to the Daily Beast on Feb. 9. Kuntzman is clearly identifiable on the tape and is named in the story.

The two most recent departures bring to more than 20 the number of journalists who have parted company with the newsweekly in the past month.

Three others were fired earlier this month. Editor Bob Roe, Executive Editor Ken Li and investigative reporter Celeste Katz were pink-slipped for writing about the company’s financial travails that came to light when the Manhattan DA’s Office raided NMG’s offices on Jan. 18.