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Hollywood Reporter Editorial Director Matt Belloni announced Monday he is abruptly stepping down after 14 years at the publication in the wake of recent clashes with the company’s leadership over editorial issues.

Asif Satchu and Modi Wiczyk, co-CEOs of Billboard-Hollywood Reporter Media Group parent company Valence Media have recently butted heads with Belloni and others in an escalating dispute about newsroom practices, two individuals with knowledge of the situation told The Wrap.

According to one insider, Satchu and Wiczyk have pushed the editorial staffs at its publications to not run stories, to spike unfavorable stories about friends and to overpromote Valence-owned businesses like Dick Clark Productions. Belloni opposed these moves, according to this individual. An individual close to Valence denied that any stories were spiked.

In addition, the insider said Satchu and Wiczyk have directed Billboard and The Hollywood Reporter to not write any story that negatively impacts their business interests in any way — a position that Belloni and editor at large Kim Masters actively opposed.

Also Read: Read Matt Belloni's Exit Memo to Staff: 'Ambitious People Can Disagree'

A spokeswoman for Valence told TheWrap: “We are committed to our publications’ journalistic integrity. We are and have been for the past 18 months in the process of working with the Poynter Institute to follow modern best practices and maintain optimal editorial independence.”

Hiring Poynter’s Kelly McBride came in the wake of the ouster of Billboard President John Amato. In July 2018, Amato stepped down as CEO of The Hollywood Reporter-Billboard Media Group two months after the company launched an investigation into whether Amato interfered in stories about former Republic Records president Charlie Walk, who was accused of sexual harassment.

Wiczyk and Satchu offered no reason for Belloni’s departure, nor did they announce a successor. “We respect and like Matt a great deal,” they said in a statement. “It has been enjoyable to work together, and we greatly admire his commitment to impactful journalism. He has pushed the team to hold itself to a high standard, and we are proud of the work he and the entire editorial group have done these past years.”

Masters did not respond to requests for comment on Sunday night.

News of the firing hit the editorial staff as a bombshell on Monday morning. “Everyone is really upset,” said one reporter on condition of anonymity. “Matt had the full support of the editorial department.”

Belloni declined to comment for the record but sent an email to staff on Monday announcing his abrupt exit and hinting at the tensions that led to his ouster.

“Well-meaning, diligent, ambitious people can disagree about fundamental priorities and strategies,” he wrote. “My 14 years at THR have been the greatest of my professional life. It’s been a privilege to lead this group of amazing journalists — a nonstop, 24/7, nerve-wracking, gray hair-inducing, often absurd and hilarious privilege — and most of all challenging and rewarding.”

Insiders said that tension had been brewing in the last few months. Recent attempts to resolve the editorial-business tension resulted in an editorial meeting with THR President Deanna Brown two weeks ago via teleconference, with Poynter Institute’s McBride hired by senior management to help guide the debate. Brown is regarded by the editorial staff as “a data person who doesn’t understand the nuances of media,” a second individual with knowledge said.

“This came out of a lot of conversations that people were having with Modi and Deanna about a lack of protocol,” the second individual said. “Kim Masters was among those upset. Kim’s radar is pretty high on this stuff. She took a lead in some of these conversations.”

Also Read: Layoffs Hit Billboard, The Hollywood Reporter After Restructuring at Parent Company

The individual said the tension did not involve pay-for-play with the magazines, or trading of advertising for promised editorial coverage but more with expectations that clients of Dick Clark might get special treatment by the news publication, for example.

Belloni’s abrupt exit also comes just as many media companies are facing financial troubles as the coronavirus pandemic has shut down the industry — and impacted revenues sources from advertising and live events.

At all-hands meeting two weeks ago with upwards of 600 people in the company — including those from THR, Billboard and Nielsen — Satchu and Wiczyk reassured the staff that they were in the business for the long haul; there was no mention of layoffs or cutbacks of any kind despite the economic pressure from the pandemic, a senior insider who was at the meeting told TheWrap.

Belloni, a former entertainment attorney, joined The Hollywood Reporter in 2006 and was promoted to editorial director in February 2017, replacing Janice Min and overseeing the publication’s online, video, print and television operations, along with a live-event business.

In a major media shake-up in 2015, Guggenheim Partners, along with multiple other investors, spun off The Hollywood Reporter, Billboard Magazine, Adweek, Dick Clark Productions and Mediabistro to Guggenheim president Todd Boehly, who is now chairman and owns a controlling interest in all of those properties.

Also Read: Billboard Parent to Sell Spin, Stereogum

The properties were split into three companies — THRB featuring The Hollywood Reporter and Billboard; Mediabistro featuring Adweek, the Clio Awards and an array of niche sites, like TVNewser; and Dick Clark Productions as its own company.

The Hollywood Reporter, the crown jewel of the spun-off publications, lost $6 million in 2013, which isn’t a small amount considering that revenues totaled $15 million, TheWrap reported in 2015. Executives with knowledge of the company’s finances said the overall losses have mounted as high as $30 million annually.

According to two individuals familiar with the company, Boehly’s mission was to shrink the company’s annual losses down to $20 million.

In January 2019, Billboard and THR laid off 22 people as Valence Media underwent a restructuring of its business operations. An individual familiar with the situation told TheWrap that the cuts were about retooling the business strategy and not economic decisions.

All the Movies Suspended or Delayed Due to Coronavirus Pandemic (Updating)

As the coronavirus continues to spread, an increasing number of movies are delaying or suspending production. As the number of impacted movies grows, TheWrap felt it would be most informative to keep a running list.
Disney/MGM/Warner Bros.
"No Time to Die"

MGM, Universal and Bond producers Michael G Wilson and Barbara Broccoli announced that after careful consideration and thorough evaluation of the global theatrical marketplace, the release of "No Time to Die" will be postponed until November 2020.
Photo credit: Universal
"A Quiet Place Part II"

Director John Krasinski announced on Instagram that the horror sequel's March theatrical release would be delayed amid the growing spread of the coronavirus around the globe. Paramount has now dated the film for release on Sept. 4.
Photo credit: Paramount
“Peter Rabbit 2: The Runaway”

"Peter Rabbit 2: The Runaway" was one of the first films delayed as part of the coronavirus, with Sony pushing its late March release to Aug. 7. But as the shutdowns continued, Sony juggled its release slate so that the family film will now open Jan. 15, 2021.
Photo credit: Sony
"Fast and Furious 9"

The release of the next “Fast & Furious” installment, “F9,” has been delayed from May 22 to now opening on April 2, 2021.
Photo credit: Universal
"The Lovebirds"

Paramount postponed the April 3 theatrical release of the romantic comedy “The Lovebirds" starring Issa Rae and Kumail Nanjiani after its SXSW premiere was also canceled. Netflix then acquired the film from Paramount and will release it at a date to be announced.
Paramount/Netflix
"Blue Story"

Paramount delayed the controversial UK gang film "Blue Story," which was set for release on March 20. A future release date has not been announced.
Photo credit: Paramount
"The Artist's Wife"

Strand Releasing and Water's End Productions delayed the limited release of the Bruce Dern and Lena Olin film "The Artist's Wife." The film was meant to open in New York on April 3 in Los Angeles on April 10 and in San Francisco on April 17. No new release date has been set.
Strand Releasing
"The Truth"

Hirokazu Kore-eda's film "The Truth" from IFC Films will postpone its March 20 domestic release to now open at an unspecified date in summer 2020. The film is in both French and English starring Catherine Deneuve, Juliette Binoche and Ethan Hawke and has already opened in some overseas markets. IFC Films has set a new release date for July 3.
IFC Films
"Mulan"

Disney postponed the release of its blockbuster, live-action remake of the animated film "Mulan" from March 27 to now open on July 24. The shift was part of a big shuffle of films Disney made to its release calendar on April 3.
Disney
"The New Mutants"

After numerous delays, 20th Century's X-Men spinoff "The New Mutants" was also pushed back by Disney "out of an abundance of caution." The film from director Josh Boone was meant to open April 3. No new release date has been set.
20th Century Studios
"Antlers"

"Antlers," an indie horror film from director Scott Cooper starring Keri Russell, was also pushed back by Disney and Searchlight Pictures from its April 17 release. No new release date has been set.
Searchlight Pictures
"Black Widow" and the MCU

In a restructuring of its entire release calendar, Disney pushed back every Marvel movie in the cinematic universe. "Black Widow" was meant to open on May 1, but will now shift back to the slot previously occupied by "The Eternals" on Nov. 6.“Eternals” is moving to February 12, 2021, “Shang-Chi and The Legend of the Ten Rings” will open May 7, 2021, and “Doctor Strange in the Multiverse of Madness” is shifting to Nov. 5, 2021. The changes also affected Marvel's slate for 2022 with “Thor: Love and Thunder” opening Feb. 18, 2022, “Black Panther 2” shifting to May 8, 2022, and “Captain Marvel 2,” which was not previously dated, is now set for a July 8, 2022 release.
Marvel
Untitled Elvis Movie

Baz Luhrmann's Elvis Presley biopic starring Austin Butler ceased production in Australia after co-star Tom Hanks (playing Presley manager Col. Parker) and his wife, Rita Wilson, tested positive for COVID-19. The planned release date was also bumped back one month to now open Nov. 5, 2021.
Getty Images
"Mission: Impossible 7 and 8"

In late February, Paramount's action sequel halted production in Italy on the Tom Cruise action sequel. Paramount on April 24 also bumped the release dates of both films, with "M:I 7" moving to November 19, 2021 from its July 2021 release date, and the eighth film also moving back to Nov. 4, 2022 from its summer release.
Paramount Pictures
"The Nightingale"

Sony postponed the Budapest shoot of the drama starring real-life sisters Dakota and Elle Fanning.
Getty Images
"Birds of Paradise"

Amazon Studios halted production in Budapest on director Sarah Adina Smith's ballet drama.
Getty Images
"Jurassic World: Dominion"

Universal put a pause on production on the third "Jurassic World," with Chris Pratt returning to star in the dinosaur-stomping sequel.

Universal Pictures
"Flint Strong"

Universal also halted production on this boxing biopic starring Ice Cube and Ryan Destiny.
Getty Images
"The Man From Toronto"

Sony delayed the start of production on the action comedy starring Kevin Hart and Woody Harrelson (who stepped in to replace Jason Statham).
"Official Competition"

Spanish studio Mediapro suspended production on the new comedy starring Penélope Cruz and Antonio Banderas.
Getty Images
"The Batman"

On March 14, Warner Bros. halted the U.K. production on Matt Reeve's DC Films reboot for at least two weeks. The film stars Robert Pattinson as the Caped Crusader. On April 20, Warner Bros. officially shifted the release date back four months to Oct. 1 from its originally planned June 2021 release date. The shift also pushed back some other DC titles, including "The Flash" to June 3, 2022 and "Shazam 2!" to Nov. 4, 2022.
Warner Bros.
"Samaritan"

On March 14, MGM paused production on the Sylvester Stallone thriller. The film had been shooting in Atlanta.
Getty Images
"Cinderella"

Sony's modernized take on "Cinderella" from director Kay Cannon and starring Camila Cabello will put its production on hiatus due to the travel ban extension to the UK. The film was shooting at Pinewood Studios.
Getty Images
"Fantastic Beasts 3"

The third installment of J.K. Rowling's "Fantastic Beasts" series that's spun off from the Harry Potter universe will postpone its production that was scheduled to begin in March in the U.K. The film stars Eddie Redmayne, Johnny Depp, Jude Law and Katherine Waterston.
Warner Bros.
"The Card Counter"

Paul Schrader's "The Card Counter," starring Oscar Isaac, Willem Dafoe, Tye Sheridan and Tiffany Haddish, shut down production in Los Angeles for five days beginning Monday after the director said on Facebook that a "day player" tested positive for the virus. "Myself, I would have shot through hellfire rain to complete the film," Schrader added. "I'm old and asthmatic, what better way to die than on the job?"

Photo by Jayne Wexler for TheWrap
"The Matrix 4"

Production on "The Matrix 4" was temporarily put on hold in March, an individual with knowledge told TheWrap. The sequel starring Keanu Reeves was in production in Berlin, Germany.
Warner Bros.
"First Cow"

After releasing Kelly Reichardt's "First Cow" in limited release on March 6, the distributor announced Monday it will re-release the film in theaters later this year.
A24
"Deerskin"

The theatrical release of the indie film "Deerskin" from director Quentin Dupieux starring Jean Dujardin has been postponed until further notice. Greenwich Entertainment meant to release the film on March 20 after it played at Cannes, TIFF and Fantastic Fest. The movie will now open via a virtual cinema offering on May 1.
Greenwich Entertainment
"Uncharted"

“Uncharted,” the film adaptation of the popular PlayStation video game franchise starring Tom Holland, Mark Wahlberg, and Antonio Banderas, was unable to begin production in March amid coronavirus concerns. As part of a larger shuffle of Sony's release slate, the most recent release date for the film was also shifted back from March 2021 to Oct. 8, 2021.
Getty Images/Naughty Dog
"The Climb"

Sony Pictures Classics' indie comedy "The Climb," which played at Sundance this year, was meant to hit theaters March 20 but is now delayed until further notice.
Sony Pictures Classics
"Avatar"

The sequels to James Cameron's four "Avatar" sequels delayed shooting in New Zealand indefinitely, according to the film's producer Jon Landau speaking to the New Zealand Herald. The executive team was to fly to Wellington, NZ on Friday but will remain in Los Angeles due to the coronavirus. Landau said he couldn't give an answer as to when production would resume and when the local Kiwi crew could get back to work. "If I told you we are going to know something in two weeks I'd be lying. I might not be wrong - even a broken clock is right twice a day. But I would be lying because I don't know," Landau said. "We're in the midst of a global crisis and this is not about the film industry. I think everybody needs to do now whatever we can do, as we say here, to flatten the curve."
20th Century Studios
"The Personal History of David Copperfield"

Searchlight Studios was meant to release "Veep" creator Armando Iannucci's comedic take on the Charles Dickens novel on May 8. No new release date has been set.
Searchlight Pictures
"The Woman in the Window"

The Amy Adams mystery thriller from director Joe Wright, "The Woman in the Window" was meant to open in theaters on May 15 from 20th Century Studios. No new release date has been set.
20th Century Studios
"Bull"

The theatrical release of the Annie Silverstein indie drama "Bull" was postponed from its March 20 release and will now open on VOD and digital on May 1. The film has toured the festival circuit since making its debut at Cannes in 2019.
Samuel Goldwyn Films
"Minions: The Rise of Gru"

The latest "Minions" movie "The Rise of Gru" was postponed from its release date on July 3. Illumination Entertainment's Paris office was forced to shut down due to the coronavirus, so the film was not able to be finished in time. Universal will release the film on July 2, 2021, a full year after its initial date.
Universal
"Wonder Woman 1984"

The sequel to "Wonder Woman" starring Gal Gadot will now hit theaters on Aug. 14 after being pushed back from its June 5 release date.
Warner Bros.
"In the Heights"

The movie musical based on Lin-Manuel Miranda's stage production "In the Heights" was postponed by Warner Bros. from its June 26 release date and bumped to June 18, 2021.
Warner Bros.
"Malignant"

"Malignant," a horror film from director James Wan, was pushed indefinitely from its release date on Aug. 14 to clear the way for "Wonder Woman 1984" to open at the tail end of the summer.
Getty Images
"Peter Rabbit 2," "Morbius" and "Ghostbusters: Afterlife"

In a sweeping overhaul of its release slate, Sony moved three films it had scheduled for release this summer to the first quarter of 2021. The "Peter Rabbit" sequel will now be released in January 2021 while both "Morbius" and "Ghostbusters: Afterlife" have been moved to next March.
Sony
"Greyhound"

Sony has also moved a WWII drama written by and starring Tom Hanks off of its mid-June release date, though a new date has not yet been set.
Sony
"Wicked"

Universal has removed the movie musical adaptation of “Wicked” from its release slate from its original date on Dec. 22, 2021, and will be redated at a later time.
Getty Images
"Sing 2"

Illumination’s “Sing 2” will now open in the place vacated by “Wicked” on Universal's release slate on Dec. 22, 2021.
Illumination
"Top Gun: Maverick"

The sequel to the 1985 hit starring Tom Cruise has been pushed back from June 24 to December 23, 2020.
Paramount
"Candyman"

Universal's horror film "Candyman" from director Nia DaCosta and produced by Jordan Peele will move from its June 12 release date to Sept. 25, 2020.
Universal
"Praise This"

The Will Packer-produced musical comedy "Praise This" about a church choir was delayed from its Sept. 25 release date and will be re-added to the slate by Universal at a later date.
Photographed by Ian Spanier for TheWrap
"The Spongebob Movie: Sponge On The Run"

Paramount shifted the animated "Spongebob" movie from its release date on May 22 to now open on August 7.
Paramount Animation
"Jungle Cruise"

With the shift of "Mulan," Disney moved the release of the Dwayne Johnson adventure comedy "Jungle Cruise" back a full year to July 30, 2021.
Disney
"Free Guy"

The Ryan Reynolds video game comedy was meant to open July 3 but will now open Dec. 11.
20th Century Fox/Disney
"The French Dispatch"

Director Wes Anderson’s “The French Dispatch” moved from July 24, 2020 to Oct. 16, 2020 as part of Disney's shift of its entire release calendar.
Searchlight Pictures
Untitled Indiana Jones

The fifth Indiana Jones movie starring Harrison Ford has already shifted its release date in response to Disney's wave of other release changes. It will now open July 29, 2022.
Paramount
"Nobody"

Universal's "Nobody," a revenge thriller and action movie starring Bob Odenkirk from the writer of "John Wick" and the producers of "Atomic Blonde," was delayed from its Aug. 14, 2020 release date to now open on Feb. 26, 2021. As a result, an untitled M. Night Shyamalan thriller that was slated for that day is now undated and will be re-added to the calendar later.
Photograph by Steven Gerlich for TheWrap
"Soul" and "Raya and the Last Dragon"

Disney and Pixar's "Soul" was moved from its June release date to open on Nov. 20. It's now opening near where the Disney Animation Studios film "Raya and the Last Dragon" was meant to open. That movie will now debut March 12, 2021. It filled the slot of an unnamed Disney live-action film that has now been removed from the slate.
Walt Disney Studios/Pixar
"Infinite"

The latest film from director Antoine Fuqua starring Mark Wahlberg, "Infinite," was pushed back by Paramount from its Aug. 7 release date to now open on Memorial Day weekend, May 28, 2021. The film is currently in post-production, and while "Infinite" wasn't explicitly pushed back due to the coronavirus, the new date allows the studio more time to ramp up the film's original intellectual property.
Getty Images
"The Many Saints of Newark"

The prequel to "The Sopranos" that follows a young Tony Soprano, played by James Gandolfini's son Michael Gandolfini, during the 1960s Newark riots was pushed to 2021, now opening on March 12, 2021 after originally being slated for a September 2020 release.
Getty Images
"King Richard"

The biopic about the life of tennis great Richard Williams starring Will Smith was pushed from its November 2020 release date to now opening almost a full year later on Nov. 19, 2021.
Getty Images
"Venom: Let There Be Carnage"

While the "Venom" sequel did get a new title from Sony in its latest update, "Let There Be Carnage," it also found itself pushed back from an October release to now open on June 25, 2021.
Sony
"Dungeons & Dragons"

Paramount's movie based on the "Dungeons & Dragons" game from the directors of "Game Night," John Francis Daley and Jonathan Goldstein, has been delayed from a November 2021 release date to May 27, 2022.
Getty Images
"Spell"

Paramount's horror film starring Omari Hardwick that was set for release in August of this year was pulled from the release calendar, with no new date set as of yet.
Starz
"John Wick: Chapter 4"

The fourth movie in the Keanu Reeves action franchise "John Wick" was moved back a full year to now open May 27, 2022. Lionsgate also juggled several of its other big releases to 2021 and 2022, including "Fatale" (10/30/20), "Voyagers" (11/25/20), "The Asset" (4/23/21), "Barb and Star Go to Vista Del Mar" (7/16/21), "The Hitman's Wife's Bodyguard" (8/20/21) and "American Underdog: The Kurt Warner Story" (12/10/21). Further, the films "Run" and "Jesus Revolution" are both without release dates.
Lionsgate
"Antebellum"

Lionsgate's horror movie "Antebellum" starring Janelle Monáe was moved from its April release date to now being the studio's next most earliest release in 2020 on Aug. 21.
Lionsgate
"Spiral"

"Spiral," Chris Rock's new take on the "Saw" franchise that stars himself and Samuel L. Jackson, was moved from a summer 2020 release to now open on May 21, 2021.
Lionsgate
"The Forever Purge"

The fifth film in "The Purge" horror franchise was meant to open in theaters on July 10 of this year but was pulled from the release calendar. No new date has been set as of yet.
Universal

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Release slates for 2021 and beyond are taking shape as studios look to write off summer 2020

As the coronavirus continues to spread, an increasing number of movies are delaying or suspending production. As the number of impacted movies grows, TheWrap felt it would be most informative to keep a running list.

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