Mediagazer: Tribune receives $70.5M investment from Nant Capital to support transformation strategy, taking 12.9% stake; Nant founder to join Tribune board as Vice-Chairman (Tribune Publising Co.)

4:25 PM ET, May 23, 2016

Top News:

Tribune receives $70.5M investment from Nant Capital to support transformation strategy, taking 12.9% stake; Nant founder to join Tribune board as Vice-Chairman — Tribune Publishing Co. (NYSE:TPUB) today announced that it has entered into an agreement under which it will receive …

Discussion: Bloomberg, Forbes, @kdoctor, New York Times, LA Observed, Fortune and Reuters

Brian Flood / The Wrap:

Tribune rejects Gannett's offer to buy; CEO Justin Dearborn says $15 per share for entire company is “clearly inadequate” — Tribune Publishing has rejected Gannett's revised takeover bid of $864 million, saying it's “not in the best interests of Tribune shareholders.”

Discussion: Variety, WWD and Fortune

Paul Bond / Hollywood Reporter:

Sumner Redstone Asks Court to Approve His Removal of Philippe Dauman From Trust — On Friday, Redstone removed the the Abrams and Viacom CEO Dauman, but the same day Dauman claimed that the 92-year-old billionaire “lacks the capacity to have taken these steps.”

Eriq Gardner / Hollywood Reporter:
Viacom CEO Philippe Dauman and George Abrams file lawsuit contesting removal from Sumner Redstone Trust, accuse his daughter of manipulating him

Discussion: @tatianasiegel27

David Lieberman / Deadline:
In statement, Sumner Redstone opposes sale of Paramount stake and calls claims he's incapacitated “false and unfair”

Discussion: Bloomberg, Fortune, Recode, @tweetbrk, @emilysteel, @hilaryr, New York Times, Broadcasting & Cable, Hollywood Reporter, @mathewi and Variety

Reuters:
Sources: Sumner Redstone plans to add National Amusements exec Tad Jankowski and family friend Jill Krutick to seven-person trust that will control Viacom, CBS

Discussion: Guardian, CNBC, Fortune, Broadcasting & Cable and New York Magazine

Joseph Lichterman / Nieman Lab:

BuzzFeed is building a New York-based team to experiment with news video — When you think of BuzzFeed video, you probably think of “27 Weird Things Guys Lie To Each Other About” or the Tasty recipe videos that have taken over your Facebook feed. — BuzzFeed has made a huge commitment …

Discussion: @buzzfeedben

Tim Ingham / Music Business Worldwide:

Filing shows in 2015 Spotify had $2.18B in revenue, losses of $194M, and 98% year-over-year ad revenue increase to $219M — Spotify brought in a whopping $2.18bn (€1.95bn) in revenues in 2015, growing its income by 80% in the year. — Net losses stood at a painful $194m (€173.1m) …

Discussion: @danprimack and hypebot

Sydney Ember / New York Times:

Adelson claims he hasn't meddled in the Las Vegas Review-Journal newsroom, but staffers suspect otherwise and continue to leave — In late January, about a half-dozen reporters from The Las Vegas Review-Journal gathered at a colleague's apartment after work.

Discussion: @brucetomaso, @ralstonreports, @pamelapaulnyt, @jimrutenberg, @melbournecoal, @dispatchsully, @petersterne, @ennisnyt and @brianstelter

Tom Kludt / CNNMoney:

Michelle Fields, ex-Breitbart reporter allegedly assaulted by Donald Trump's campaign manager, joins the Huffington Post to cover the candidate's 2016 run — Michelle Fields, the conservative reporter who had Donald Trump's campaign manager charged with battery, has a new job.

Discussion: New York Times, The Daily Caller, @becketadams, @mxmooney, @tomkludt, @brianstelter, FishbowlNY and Mediaite

Mark Hertsgaard / Guardian:

Former senior US Department of Defense official John Crane shares how his colleagues broke the law and withheld evidence to persecute whistleblower Thomas Drake — By now, almost everyone knows what Edward Snowden did. He leaked top-secret documents revealing that the National Security Agency …

Margaret Sullivan / Washington Post:

Now's an opportune time for aspiring journalists to play a major role in helping the industry survive — News reporter — that's just about the worst job you can have, right? According to one career site, it ranks dead last, behind pest-control worker and logger.

Discussion: FishbowlDC, @johnwenzel, @connieschultz, @joe_stephens, @loisbeckett, @nppalawyer, @markberman, @costareports, @corybe, @richardgrenell, @abeaujon, @jcstearns, @brianstelter, @postbaron, @dangillmor, @niemanlabfuego, @moorehn and @rafat

Financial Times:

Digital media companies like BuzzFeed, PopSugar, and Tastemade use food videos to drive traffic and advertising — Companies such as BuzzFeed showcase cooking as drivers of traffic in bid to attract advertisers — More than 100,000 people signed a petition this week in protest at the BBC's plan …

National Union of Journalists:

NUJ: Vice's UK management try to form staff councils to dilute support for unionising — Vice management are making moves to form a staff council after they ran a week-long staff survey comprised of only three questions - Do you want a staff council? Rank your most important issues …

Discussion: Guardian

Rick Edmonds / Poynter:

Minneapolis Star Tribune finds sustainable business model with a metered digital paywall, programmatic ads, and diversified revenue streams — Does the Star Tribune of Minneapolis have a secret formula for outperforming the rest of the newspaper industry? — I have been puzzling over that for years.

Discussion: @barnettwright and Wall Street Journal