Mediagazer: Former Hollywood Reporter editor Matthew Belloni has become a founding member of a new media company that has raised $7M and aims to launch this summer (Jeremy Fuster/The Wrap)

1:55 PM ET, May 17, 2021

Top News:

Brian Stelter / CNN:

AT&T to spin off WarnerMedia and combine it with Discovery in a $43B deal; the new company will be run by Discovery CEO David Zaslav — New York (CNN Business)The streaming TV race is about to get even more competitive. — On Monday morning AT&T (T) and Discovery, Inc. (DISCA) …

Discussion: Los Angeles Times, Financial Times, New York Times, Wall Street Journal, New York Times, Hollywood Reporter, Washington Post, Variety, The Wrap, CNN, Variety, CNBC, Bloomberg, Hollywood Reporter, MediaPost, The Information, The Wrap, CNBC, Forbes, Variety, Fast Company, Bloomberg, Variety, Mediaite, @sherman4949, @frankpallotta, @claireatki, Discovery, Inc., Observer, MediaPost, Axios, The Streamable, Awful Announcing, Insider, /Film, @annaknicolaou, @benyt, Light Reading, @panzer, @mattdraperyt, @thetruebrendanf, @magsvisaggs, @jeremymbarr, @dylanbyers, @dylanbyers, @jasonlynch, @sherman4949, @loudmouthjulia, @mims, @cnbc, @pkafka, @digitalshields, ZDNet, @erikdavis, Protocol, @sherman4949, The Week, @sherman4949, @richlightshed, @kerrymflynn, @karaswisher, @loudmouthjulia, @sherman4949, @brianstelter, @pkafka, @mbgelman, @ditzkoff, @frankpallotta, @cgasparino, @edmundlee, @backlon, @sherman4949, @jackmirkinson, @brazilbrian, @oliverdarcy, @zakiscorner, @cgasparino, @loudmouthjulia, @carnage4life, @keithboykin, @alexweprin, @sivavaid, @gracerandolph, @jbflint, @awallenstein, @sarafischer, @rakeshlobster, @richlightshed, @brianstelter, @brianstelter, @w7voa, IndieWire, @thatjakepc, @scottporch, @sherman4949, NPR, AppleInsider and Adweek, more at Techmeme »

Brooks Barnes / New York Times:

Sources: Jason Kilar is negotiating his departure as CEO of WarnerMedia, after being kept in the dark about the deal with Discovery until recent days — Jason Kilar has hired a legal team to negotiate his departure as chief executive of WarnerMedia, according to two people briefed on the matter.

Discussion: Vox, CNN, nexttv.com, @brooksbarnesnyt, Mediaite, @jbenton, @sherman4949, @davidpoland, @sherman4949, @richardlnewby, @mchenryjd, @grynbaum, @panzer, @brianstelter, @richlightshed, The Desk, Bloomberg, C21Media, @parryravi, Digital TV Europe and The Week

Hollywood Reporter:

John Stankey and David Zaslav discuss their vision for the WarnerMedia deal, saying the company will have a content spend that exceeds most competitors at $20B — AT&T chief John Stankey and Zaslav, who will lead the new venture, also addressed the status of WarnerMedia CEO Jason Kilar and the future of CNN.

Discussion: @loudmouthjulia, CNBC, @thejannissary, @jbflint, The Playlist, @loudmouthjulia, @loudmouthjulia, @stevekovach, @loudmouthjulia, @loudmouthjulia, Collider, @felixsalmon, @alexweprin, @loudmouthjulia, @loudmouthjulia, Newser and The A.V. Club

Joe Flint / Wall Street Journal:
Jason Kilar says he expects no long-term negative effects of releasing 2021 movies on HBO Max; sources: Warner Bros. paid $200M+ to appease talent

Discussion: Forbes, Ad Age, @mattzeitlin, @dylanbyers, @edhammondny, @nichcarlson, Gizmodo, @jyarow, @optionshawk, @lucas_shaw, Mediaite, nexttv.com, The Wrap and @drewfitzgerald

Associated Press:

Israeli airstrike destroys a high-rise in Gaza City that housed offices of AP and Al-Jazeera, after the military warned people to evacuate the building — GAZA CITY, Gaza Strip (AP) — Israel slammed the Gaza Strip with airstrikes, in a dramatic escalation that included bombing the home …

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Jeremy Fuster / The Wrap:

Former Hollywood Reporter editor Matthew Belloni has become a founding member of a new media company that has raised $7M and aims to launch this summer — Matthew Belloni, former Editorial Director at The Hollywood Reporter, has joined as a founding partner for a new media company that will cover politics …

Discussion: Hollywood Reporter, Deadline, @sonnybunch, @jimmaiella, @benyt, @mattbelloni and Variety

Apple:

Apple says it will bring lossless audio to all Apple Music subscribers for free and will support Spatial Audio with Dolby Atmos, available from June — The next generation of sound on Apple Music is coming to subscribers June 2021 at no additional cost — CUPERTINO, CALIFORNIA Apple today …

Micah Singleton / Billboard:

Amazon Music HD is now available to Amazon Music Unlimited subscribers for free, effectively cutting the Hi-Fi service's price from $14.99 to $9.99 per month — The price change undercuts competing high-fidelity offerings and possibly upcoming plans by Spotify and Apple Music.

Discussion: @ampressman, Engadget, @amazonmusic, @richontech, 9to5Mac, @c_davies, musically.com, The Verge, @richontech, @kintan, MacRumors, @richontech and @micahsingleton, more at Techmeme »

Zack Zwiezen / Kotaku:

After publishing and removing an article listing Palestinian charities, IGN says it didn't mean to make it seem “we were politically aligned with one side” — Following the most recent set of violent military strikes by the Israel Defense Forces that have leveled entire buildings …

Discussion: Al Jazeera, @tha_rami, @tha_rami, @scully1888, @tropicalmaku, @dannyodwyer, @andyplaytonic, @austin_walker, @mattbinder, @papapishu, @charalanahzard, Axios, @iyagovos and A. Khaled's Blog

Reuters:

Axel Springer and Facebook strike a global deal, allowing content from Bild, Welt, Insider, and others to be distributed in Facebook News at its German launch — Axel Springer and Facebook said on Monday that they had agreed on a global cooperation deal under which content from the German publisher …

Discussion: Axel Springer SE, @gbrotman, @markscott82, @pressgazette and @fabiochiusi

Variety:

Investors and analysts including Warren Buffett weigh in on “stupid” stock swings affecting ViacomCBS, Discovery, and AMC Entertainment, plus problematic SPACs — There's no better moment to take the pulse of the investment landscape than during the annual shareholders meeting …

Lindsey Ellefson / The Wrap:

Vice News names its news director Michael Learmonth as new EIC, filling a role that has been vacant since 2019 — Michael Learmonth was named Vice News' new editor in chief Monday, filling a role that has been vacant since 2019. He was promoted from news director, a job he held since 2016.

Discussion: MediaPost, @katiedrumm and @learmonth

Sarah Krouse / The Information:

Sources: Google's plans to match Apple's ATT changes have been delayed by internal concerns that such moves will diminish mobile ad revenues — Pressured by Apple's recent iPhone privacy initiative, Google is accelerating work to limit how app developers can track the 2.5 billion people who use phones powered by its Android software.

Discussion: @amir, @carnage4life, @bysarahkrouse, MacRumors and AppleInsider, more at Techmeme »

Jay Peters / The Verge:

Twitch says it is switching to localized subscription prices in some non-US markets, which will often be lower, starting with Turkey and Mexico on May 20 — Localized pricing is meant to increase streamers' earnings, but they'll need more subscribers — Twitch is announcing a big change …

Discussion: Kotaku, @aureylian, Engadget and @paperstainedink, more at Techmeme »

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