Top News:
Ken Doctor / Nieman Lab:
As the McClatchy deal closes, investment companies Alden, Fortress, and Chatham will control almost 45% of total daily newspaper circulation in the US — The hedge fund Chatham Asset Management reeled in its prize, as expected. But now what does it want to do with it?
Discussion:
@lucasgrindley, @joshtpm, @noahpinion, @caro, @darrendcarroll and @maryellenklas
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Rick Edmonds / Poynter:
Chatham, which has been in a position to influence McClatchy for some time, seems unlikely to make deep cuts or take other radical action after its acquisition
Chatham, which has been in a position to influence McClatchy for some time, seems unlikely to make deep cuts or take other radical action after its acquisition
Discussion:
@jeffburlew and @poynter
Kevin G. Hall / McClatchy Washington Bureau:
Chatham Asset Management, McClatchy's largest creditor, has won an auction to buy the bankrupt local news company
Chatham Asset Management, McClatchy's largest creditor, has won an auction to buy the bankrupt local news company
Discussion:
American Press Institute, New York Times, @joshtpm, USA Today, McClatchy Co, Wall Street Journal, @cezary, The Wrap, @doliver8, @jkelly3rd, The Week, @shelbygrad, @mrsmaris, Axios, @jkbjournalist, @meredithshiner, @mtdukes, @tomgara, @marmel, @lisaabramowicz1, @bgrueskin, @bgrueskin, @eclisham, @campbellsl, @wsj, @tclift, @mrdrew_taylor, @kdoctor, @asharma, @stevekopack, @carlos_frias, @will_bunch, The Hill, The Desk and Bloomberg
Kevin Draper / New York Times:
Black employees at ESPN, prompted by nationwide conversations on systemic racism, detail their own negative experiences with long-entrenched practices — In meetings and conversations among colleagues, ESPN employees have criticized the career pipeline and diversity of top leadership, eliciting a promise from executives to do better.
Discussion:
The Wrap, Awful Announcing, @kevinmdraper, @sabrinasiddiqui, @theonlyhonest, @bubbaprog, @drrubidium and @marcatracy
Brian Steinberg / Variety:
NBC to launch “Today All Day”, a 24-hour feed of material from its Today show, to be available on the Peacock streaming service when it launches Wednesday — After decades spent fighting TV's never-ending battle for morning-news dominance, NBC's “Today” is launching a salvo on another front: Hollywood's streaming wars.
Discussion:
NBC News, The Streamable, TVNewser, @xpangler, @kerrymflynn, @bluechoochoo, @bristei, @bristei and Engadget
David McCabe / New York Times:
In a May filing to Australia's antitrust regulator, Google said it doesn't control enough of the digital ad market to overcharge customers or block competitors — A document sent by the search giant to Australian regulators argues that the company doesn't control enough of the digital ad industry …
Discussion:
@dmccabe, more at Techmeme »
Todd Spangler / Variety:
SiriusXM will buy E.W. Scripps' podcast network and producer unit Stitcher for $325M; Scripps says Stitcher had $72.5M in 2019 revenue — According to E.W. Scripps, the $325 million price tag represents a return of more than 100% in its investment in podcasting over the last five years.
IAB:
IAB report: in 2019, US podcast advertising revenue increased by 48% to $708.1M; news is the top genre for US podcast advertisers, capturing 22% of revenue — According to the fourth annual IAB Podcast Advertising Revenue Report prepared by PwC, U.S. podcast advertising revenue is expected to grow 14.7% in 2020, despite the pandemic.
Discussion:
Adweek, Variety, MediaPost, @lucas_shaw, @nwquah, @lucas_shaw and Music Business Worldwide
Nieman Lab:
Study of 400 hyperpartisan sites masquerading as US local news: left-leaning examples focus on statewide reporting while right-leaning focus on local reporting — The growth of partisan media masquerading as state and local reporting is a troubling trend we've seen emerge amid the financial declines of local news organizations.
Discussion:
@janinezacharia, @gabekahn, @cnnladavid, @nigelduara, @emilybell and @millie
Hannah Murphy / Financial Times:
Inside Facebook's clubby network of invitation-only advertiser groups, called client councils, which use a mix of perks and pressure to keep brands close — Social media company uses a mixture of perks and pressure to keep brands close — Facebook likes to roll out the red carpet …
Discussion:
@financialtimes, @mshannahmurphy, @rajit_h, @ceektechnology, @hoofnagle, @loupas, @kloussikian, @alexhern, @daveleeft, @jason_kint and @jason_kint, more at Techmeme »
Lindsey Ellefson / The Wrap:
CNN to launch a new team covering race and systemic racism that will contribute to all CNN platforms and be led by Delano Massey, a recent hire from AP — CNN is launching “a new and expanded race team” after the weeks-long national conversation around race and racism, network president Jeff Zucker told staff Monday.
Discussion:
@davidfolkenflik, TVNewser and Breitbart
Sahil Patel / Wall Street Journal:
Mediaocean, which provides TV advertising software, to acquire 4C Insights, which offers ad tools for streaming video and social media, source says for $150M+ — 4C Insights offers ad tools for streaming video and social media — Mediaocean LLC, a firm best known for its TV advertising software …
Discussion:
@sizpatel, Adweek, @digitalshields and Beet.TV, more at Techmeme »
Scroll Blog:
Scroll announces a program to fund news curators, where curators receive 20% of value from a visit to a Scroll-enabled site, with Techmeme as its first partner — TL;DR We're excited to announce Why are you doing this? A few algorithms should not govern what content people encounter.
Discussion:
@arctictony, @gaberivera, @arctictony, @arctictony, @louisgray and @arctictony
Naman Ramachandran / Variety:
AP and WaPo join Trusted News Initiative, a global collaboration between news and tech companies, including NYT, Google, and BBC, to stop the spread of disinfo — Fake news fighter Trusted News Initiative (TNI) is setting up a shared early warning system of rapid alerts to combat the spread …
Discussion:
Press Gazette