Top News:
Rahat Sandhu / Reuters:
Vice files for bankruptcy and agrees to sell its assets to lenders, including Fortress and Soros Fund, for ~$225M; assets and liabilities are $500M to $1B — Vice Media Group, popular for websites such as Vice and Motherboard, filed for bankruptcy protection on Monday to engineer its sale …
Discussion:
VICE Media Group, Bloomberg, TechCrunch, The Week, New York Times, NPR, Gizmodo, Crain's New York Business, The Desk, New York Magazine, The Guardian, @benmullin, @josephfcox, Reuters, CNBC, Just The News, Beyond Search, BBC, @tomgara, Financial Times, @fastcompany, @marktlive, Fast Company, Bankrupt Company News, VICE, @officialsauravd, The Information, @paleofuture, @stefsimanowitz, Press Gazette, Associated Press, Variety, The Hollywood Reporter, @laurenshirsch, @jmweast, The Wrap, @jayrosen_nyu, CNN, @daithaigilbert, @mrwillhayward, Wall Street Journal, @claireatki, @thetowncrier, @lorenzofb, @toluogunlesi, Insider, @by_nathanbrown, @alexisjreports, @jason_koebler, Broadband TV News, @maxwelltani, WORLD SCREEN, New York Daily News, MediaPost and Boing Boing
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Sara Fischer / Axios:
A history of Vice Media, which has raised over $1.6B, was valued at $5.7B in 2017, and owns a slew of assets, including Refinery29 and Vice Studios — Vice Media Group filed for Chapter 11 bankruptcy early Monday morning, marking the end of a long, strenuous effort to sell itself after its business stopped growing.
Discussion:
Press Gazette, Associated Press, @frankwords, Quartz, MediaPost and Deadline
A.G. Sulzberger / Columbia Journalism Review:
The NYT's publisher discusses the importance of journalistic independence and objectivity, which he says can be achieved only by being prepared to upset people — The debate around “objectivity”—if that's even the right word, anymore—has become among the most contested in journalism.
Discussion:
New York Times, @blakersdozen, @jimrutenberg, @taylorlorenz, @taylorlorenz, @taylorlorenz, @owillis, @kziwica, @nytmike, @froomkin, @nickconfessore, @felixsalmon, @motokorich, @froomkin, @froomkin, @rickberke, @jagora, @brianmrosenthal, @jeffkeay, @jennbinis, @lpolgreen, @froomkin, @alexanderrusso, @rochelleriley, @mckenziecnn, @mollybeck, @benmullin, @mariaramirezny, @jason_kint, @froomkin, @russelllowery10, @froomkin, @nytimespr, @froomkin and The New York Times Company
Jonathan Lai / The Philadelphia Inquirer:
The Philadelphia Inquirer is hit by a cyberattack, affecting weekend operations and causing the largest disruption since 1996; restoration timelines are unclear — The Philadelphia Inquirer and outside cybersecurity experts continued Sunday to scramble to restore systems …
Discussion:
Associated Press, Voice of America, CNN, Raw Story, Engadget, The Guardian, Forbes, @charliemagne, New York Post, Newser, @elaijuh, @farhip and MediaPost
Charlotte Tobitt / Press Gazette:
Jimmy Finkelstein launches digital news outlet The Messenger, which reportedly aims to generate $100M in revenue in 2023 and hire around 550 journalists — The Messenger aims to make $100m in revenue next year with up to 550 journalists. — Jimmy Finkelstein's digital news start …
Discussion:
The Messenger, @pkafka, @maxwelltani, @scottnover, @rmac18, @lmoses, @heathat, @pkafka, @_cingraham, @jbenton, @pkafka, @chris_m_gavin, @moorehn, @jayrosen_nyu, @mschlapp, @jayrosen_nyu, @tomaxwell, @pkafka, @jayrosen_nyu, @levinejonathan, @seangriffey, @karlbode, @mikeisaac, @danwakeford and Insider
Connie Wang / New York Times:
How TV news anchor Connie Chung on CBS and NBC inspired the first names of many girls among Asian families in the 1980s and 1990s, and how some met in person — It was on my first day of college at the University of California, Berkeley, when I started to realize there were more of us out there.
Discussion:
@nytimes, @jimpethokoukis, @pjmooney, @sturgeons_law, @nytopinion and @kurtbardella
Rory Carroll / The Guardian:
The Irish Times apologizes after running an opinion piece on May 11 about women's use of fake tan that was submitted by a hoaxer who created the article with AI — The piece ran on 11 May and accused people who use fake tan of mocking those with naturally dark skin
Discussion:
Insider, The Irish Times, @philipoconnor, Gizmodo, @fromarsetoelbow, @mediocredave, @groomb, @atticumfloreat, @conor64, @caoimhinof, @egavactip, @henkvaness, The Daily Beast and The Independent
Jared Newman / Fast Company:
Pluto TV co-founder Ilya Pozin's Telly opens a waitlist to give away 500K 55-inch 4K HDR TVs, which have a second screen for constantly showing ads, in 2023 — Would you take a free TV if it constantly ran banner ads beneath everything you watched? — That's the proposition for Telly …
Discussion:
Telly, Axios, Insider, CNET, The Verge, @jamestitcomb, 9to5Google, The Hill, @parismarx, @thetomzone, @karlbode, Next TV, @nicholasadeleon, TechCrunch, Engadget, Gizmodo, The Streamable, Deadline, @lmoses, Variety, @alexweprin, Ad Age, @tomwarren, AppleInsider, @richlightshed, AdExchanger, The Hollywood Reporter, Beet.TV and Boing Boing, more at Techmeme »
Sara Fischer / Axios:
Sources: non-US investors may substantially pay for Forbes' takeover; Austin Russell committed $100M-$200M and is in talks to have Sun Group invest $200M-$300M — Forbes agreed to sell itself in a deal that makes it look like the iconic magazine brand is staying in American hands.
Discussion:
@sarafischer, @charlesarthur, Press Gazette, TechCrunch, @tomaxwell, @aexm, @sarafischer, @rafat, @rafat, @rafat and Talking Biz News
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Kelly McBride / Poynter:
Q&A with The Washington Post's Robert Samuels and Toluse Olorunnipa, whose His Name Is George Floyd won the 2023 Pulitzer Prize for general non-fiction book — Robert Samuels and Toluse Olorunnipa discuss writing the richly detailed book about George Floyd's life that won the Pulitzer Prize
Discussion:
@poynter, @kellymcb, @poynter and @roypeterclark
David Salazar / Fast Company:
Hybe, the South Korean music company behind BTS, uses voice AI to launch its latest artist Midnatt in six languages simultaneously — When Hybe, the entertainment juggernaut behind the K-pop group BTS, announces a new artist, the music world takes note. Hybe, after all, doesn't just …
Discussion:
Music Business Worldwide, @lizzyfaith and Music Ally
Todd Spangler / Variety:
MoffettNathanson: US pay TV users fell 7% YoY to 75.5M in Q1 2023, with household penetration at 58.5%, the lowest level since 1992; only YouTube TV grew in Q1 — As streaming video continues its ascendancy, cable, satellite and internet TV providers in the U.S. turned in their worst subscriber losses …
Discussion:
MediaPost, Next TV, The Streamable, @anylaurie16, 9to5Google, @nickandmore, @felixindafuture and Cord Cutters News, more at Techmeme »
Alex Weprin / The Hollywood Reporter:
A chaotic year has upended media companies' upfront presentations to woo advertisers, amid top executive departures, the writers' strike, cord cutting, and more — From May 15-18, expect Disney, NBCUniversal and Warner Bros. Discovery execs to work overtime selling their wares to ad buyers during a downturn and a major work stoppage.
Discussion:
New York Times, Variety, Semafor, @lmoses, Next TV, @natjarv, @mlcalderone, IndieWire, @bristei, @hayskali, @sherman4949, Bloomberg, @benmullin, @alexweprin, @alexweprin, Insider and Vanity Fair
Lillian Rizzo / CNBC:
Elon Musk names ex-NBCUniversal ad chief Linda Yaccarino as Twitter's CEO, to focus on business operations; Musk will focus on “product design & new technology” — - Former NBCUniversal advertising chief Linda Yaccarino will be Twitter's next CEO.
Discussion:
Semafor, @lindayacc, Adweek, New York Post, Vanity Fair, Insider Intelligence, @lindayacc, The Wrap, Insider, The Guardian, AdExchanger, @ichotiner, The Register, @maxwelltani, @jbenton, AppleInsider, CBS News, Fortune, New York Times, The Hill, Deadline, @elonmusk, The Week, Digital Journal, Bloomberg, @stevedeaceshow, @goldman, KOIN-TV, @stillgray, KDFX-TV, Wired, Associated Press, Variety, @drloupis, @stevedeaceshow, @caulfieldtim, @thevivafrei, @brendonleslie, @brittanyventi, @legendaryenergy, @sapna, @fortunemagazine, @edmundlee, @dankennedy_nu, WWD, TechCrunch, @elonmusk, Washington Post, The Philadelphia Inquirer and Variety
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Lucas Manfredi / The Wrap:
Linda Yaccarino is stepping down as NBCUniversal's chairman of global advertising and partnerships, set to be replaced in the interim by Mark Marshall
Discussion:
Deadline, CBS News, Reuters, @pkafka, @kerrymflynn, @sherman4949, @jeffreyatucker, @jbflint, @thewrap, NBCUNIVERSAL MEDIA, @thephilosotroll, Axios, Variety and Reuters
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