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Dade Hayes / Deadline:
Nexstar plans to buy a 75% stake in The CW from Paramount Global and Warner Bros. Discovery, both of which will retain 12.5% stakes and supply scripted content — The CW is about to enter a new ownership era, as local TV giant Nexstar Media Group has confirmed a pending deal to acquire …
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Dade Hayes / Deadline:
Nexstar will absorb The CW's debt but won't pay any cash or stock up front for its stake and wants to make The CW profitable by 2025, partly through cost cuts — As it transitions to new ownership, the CW will likely not look dramatically different in the near term, but Nexstar Media Group intends …
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Sam Thielman / FOREVER WARS:
Sam Thielman, a freelancer Substack hired to edit several writers, says he was fired in retaliation against a writer he edited who chose to move to Ghost — Spencer took the newsletter off Substack when his contract ended. They got mad at the blog post explaining why and took away Sam's freelance gigs because he...edited it
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Reuters:
Walmart partners with Paramount to include the $4.99/month ad-supported tier of the Paramount+ streaming service as part of its Walmart+ subscription — U.S. retailer Walmart Inc (WMT.N) on Monday struck a deal with Paramount Global (PARA.O) to offer Paramount+ streaming service to the subscribers …
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Erik Hayden / The Hollywood Reporter:
Dan Loeb's Third Point increases its stake in Disney and calls on the company to cut costs, explore spinning off ESPN, and integrate Hulu into Disney+ — The billionaire's Third Point firm is building its stake in the Hollywood giant.
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Ivan Mehta / TechCrunch:
Snap says its Snapchat+ subscription, launched in June, now has 1M+ users globally and adds features, including priority Story replies to celebs — Snap said today that the company's paid subscription plan Snapchat+, which launched in June, now has more than 1 million users across the globe.
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Lorenzo Franceschi-Bicchierai / VICE:
Hacker conference DEF CON permanently bans OANN for violating its privacy policy by “repeatedly taking photo and video showing people's faces” without consent — Organizers said OAN journalists violated the conference's privacy policy. — Lorenzo Franceschi-Bicchierai
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@kevincollier, @snubs, @josephfcox, @checkmyadshq, @lorenzofb, Raw Story and @feoh
Etan Vlessing / The Hollywood Reporter:
Canadian broadcaster CTV's chief news anchor Lisa LaFlamme says she has been forced out of the network; CTV parent Bell Media cites “changing viewer habits” — LaFlamme announced on her Twitter account that Bell Media had made a “business decision” to replace her with Omar Sachedina as host of ‘CTV National News.’
Pamela McClintock / The Hollywood Reporter:
Warner Bros. strikes a multiyear deal to distribute MGM's movies internationally, excluding the next James Bond film; MGM's previous partner was Universal — The multiyear pact succeeds a similar deal MGM had with Universal.
Rebecca Sun / The Hollywood Reporter:
The Academy of Motion Picture Arts and Sciences issues a formal apology to Sacheen Littlefeather who suffered harassment and discrimination at the 1973 Oscars — Nearly 50 years after suffering harassment and discrimination for protesting Native American mistreatment, the activist …
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Lesley Goldberg / The Hollywood Reporter:
Casey Bloys' HBO Max and HBO group lays off ~14% or ~70 staff, impacting reality, casting, international, and acquisitions units, as part of leadership changes — An estimated 70 staffers have been let go as Sarah Aubrey adds international but loses comedy oversight.
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Mark Gurman / Bloomberg:
Sources: Apple ads team lead Todd Teresi now reports directly to Eddy Cue and wants to increase the group's ad revenues from $4B per year to double digits — Apple is set to expand ads to new areas of your iPhone and iPad in search of its next big revenue driver.
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