The Politico team will be no more after the 2016 Hunger Games as founders Jim VandeHei and Mike Allen are evacuating the smoking remains of the Village by helicopter.
In what can be described only as a cataclysm in Beltway media, CEO Jim VandeHei is leaving Politico, the eight-year-old politics website that shook up Washington journalism, according to sources and reports by Huffington Postand CNNMoney.
And in what can be described only as a mega-cataclysm, Politico Chief White House correspondent Mike Allen is joining VandeHei in rushing toward the exits of Politico’s Rosslyn headquarters. Allen writes the daily franchise newsletter “Politico Playbook.” A bearer of occasional scoops, Allen is the driver of very frequent revenue. Weekly sponsorships for “Playbook” run in the $50,000 to $60,000 range this year, depending on the news cycle. And that’s not even rolling in the big money that comes from “Politico Playbook” conferences/interviews anchored by Allen. His work alone — complete with ethical issues — subsidized a platoon of Politico reporters.
It doesn’t end there: Kim Kingsley, the Chief Operating Officer is leaving as well. Kingsley has provided the glue that bridged Politico’s newsroom and its business side as the site sprinted to revenues approaching $20 million just years after launching. She headed the colonization of radio and cable-news airwaves that helped establish Politico as a preferred Washington source both for readers and advertisers. The company’s successful events business was also an obsession of Kingsley’s. Other departures are Danielle Jones and Chief Revenue Officer Roy Schwartz.
VandeHei, Allen and Schwartz will stay through the 2016 election; the others will leave on earlier timetables. Editor-in-Chief John Harris will say on board and take on the additional title of publisher.
Politico as we’ve come to know it is no longer.
The disintegration appears to be over money issues, as most business problems seem to be, and surely most of these folks will land on their feet. But Politico’s particularly toxic brand of Beltway both-siderism has surely taken a beating in the era of LOL PMURT NOTHING MATTERS ANYMORE, and I’m thinking since the rules of Beltway “journalism” have been thoroughly napalmed over the last six months, Jim and Mike are getting off the playground where they’ve realized that they’re no longer the guys in charge of giving out all the kickballs.
I can think of a couple hundred Villagers who need to follow those two out the door, too.