Top News:
Robert Channick / Chicago Tribune:
SEC filing: Alden took out two loans, totaling $278M, in the Tribune Publishing deal and removed CEO Terry Jimenez; Tribune was debt-free — It didn't take long for Alden Global Capital to put its imprint — and significant debt — on Tribune Publishing, after closing its $633 million acquisition …
Discussion:
@lalpert1, US Securities and Exchange Commission, @karenkho, New York Post, @jimfriedlich, @tomscocca, @elaheizadi, @maghielse, @mattdpearce, @kevincarey1, @stacydavisgates, @ctguild, @rhodes_dawn, @saragregory, @daveweigel, @joshschwerin, @amlwhere, @rumormill, @karenkho, @ryanchittum, @eric_hontz, @mightygodking, @hartfordcourant, @barry, @danielleiat, @gaufre, @charlesornstein, @joshpcain, @tomscocca, @athertonkd, @elyssacherney, @davidrlurie, @jeremylittau, @timothypmurphy, @byjonharris, @jeremylittau, @robertchannick, @kenbensinger, Columbia Journalism Review, @johnrussell99, The Wrap, New York Post, The Hill and Chicago Sun-Times
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Wall Street Journal:
Profile of Alden's Heath Freeman, as he bets on cost cutting, subscription revenue, and potential fees from licensing stories to giants like Facebook and Google — Heath Freeman, president of Alden Global Capital, is known for pushing big cost reductions, which he says help to save newspapers
Discussion:
@davidharrisos, @brooklynmarie and @benmullin
Annie Palmer / CNBC:
Amazon says it will acquire MGM Studios for $8.45B — - Amazon is buying MGM Studios, the companies announced, marking Amazon's most ambitious move yet into the entertainment business. — The acquisition is Amazon's second-largest acquisition since it paid $13.7 billion for Whole Foods in 2017.
Discussion:
New York Times, Variety, The Wrap, @bradstone, Business Wire, @markdistef, /Film, Observer, TechCrunch, Ad Age, The Streamable, NBC News, Insider, Vox, The Desk, Associated Press, AppleInsider, Paste, @danprimack, @lucas_shaw, @repkenbuck, Washington Post, Engadget, @claireatki, The Verge, @ourand_sbj, @sonnybunch, @richardlai, @alexweprin, @digitalshields, @psmith, @felixsalmon, @tim_stevens, @dlberes, @edmundlee, 9to5Mac, @pkafka, @sizpatel, @kerrymflynn, @richontech, @mattmday, @brianstelter, @kerrymflynn, @lanceulanoff, @rustybrick, Axios, IndieWire, @sherman4949, @thedomino, @dangrabham, @teroterotero, @stevekovach, @realbengilbert, @richontech, @stevekovach, @pkafka, @pkafka, @stevekovach and Cord Cutters News, more at Techmeme »
Sarah Perez / TechCrunch:
Facebook and Instagram now give users options to hide Like counts across all posts and to hide their own public Like counts from others — Facebook this week will begin to publicly roll out the option to hide Likes on posts across both Facebook and Instagram, following earlier tests beginning in 2019.
Discussion:
About Facebook, The Verge, 9to5Mac, @instagram, @producthunt, @taylorlorenz, @mosseri, @samsheffer and @kerrymflynn, more at Techmeme »
Erik Wemple / Washington Post:
Emily Wilder was wronged by AP editors, who were less concerned with work product than about “appearances”, defined by groups like Stanford College Republicans — On May 18, the Associated Press reported on the arrest of an arson suspect over a Los Angeles wildfire …
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David Bauder / Associated Press:
AP says it's starting a review of its social media policies, asking staff for suggestions, and hopes to have a committee presenting recommendations by September
Discussion:
New York Times, PRESS RUN, @baekdal, @penenberg, American Press Institute, Media Nation, Poynter, NPR and Fox News
Katie Robertson / New York Times:
Over 200 academics, journalists, and sports figures including UNC alumni sign a letter criticizing UNC's failure to give Nikole Hannah-Jones tenure — More than 200 writers and cultural figures signed a letter opposing the University of North Carolina's failure to give the Times Magazine correspondent tenure with her position there.
Discussion:
The Root, @johnrobinson, @columbiajourn, @kreissdaniel, @mikeogling, @adamserwer, @jelani9, @khalilgmuhammad, @thegrio, New Republic, TheGrio and The Hill
Mark Stenberg / Adweek:
Axios says its Local program now has 350,000+ subscribers and is on pace to generate between $4M and $5M by the end of 2021 — Led by Axios, local is going national. The “smart brevity” news publisher announced Monday that it planned to expand the number of cities it serves as part …
Discussion:
@dylanbyers, @sarakgoo, @markstenberg3, @djtweets and @thekendallbaker
Benjamin Mullin / Wall Street Journal:
In a staff meeting, Jeff Zucker said a CNN streaming platform will launch within the next year, and he defended the lack of a suspension for Chris Cuomo — President Jeff Zucker also said during a town hall that he would consider his future at the cable network given CNN parent company's merger with Discovery
Javier Espinoza / Financial Times:
Sources: European Commission will open a formal antitrust probe into Facebook to investigate if it's undermining competition in the online classifieds market — European Commission will investigate if Facebook is undermining competition in the online classifieds market
Discussion:
New York Post, Engadget and @valentinapop, more at Techmeme »
Ray Schultz / MediaPost:
The Economist launches its first online course, on politics, business, and tech, for £1,475, or $2,087, with experts including former Google CEO Eric Schmidt — The Economist is launching its new online executive education program, Economist Education, on Wednesday.
Discussion:
Journalism.co.uk
Sarah Rappaport / Bloomberg:
How London theaters have adapted to lockdowns, quickly expanding streaming offerings; over 100,000 people in 90 countries paid up to $90 for an Old Vic show — - 3D cameras, interactive technology help to win over skeptics — Viewers in 69 countries pay up to $90 for Claire Foy Zoom show
Amanda Meade / The Guardian:
Australia's ABC signs letters of intent with Google and Facebook for payments under news media bargaining code, one of the last media organizations to sign up — The broadcaster's managing director says the agreements under Australia's media code ‘will provide a huge boost to the regions’
Discussion:
@saffronhowden
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