Top News:
Steven Waldman / The Atlantic:
Funding US local news, which may cost ~$1.5B per year to sustain 25,000 local reporter positions, would more than pay for itself and “save American democracy” — The decline of local journalism isn't just a threat to democracy. It's also costing us money. — Zak podmore did not bring down a corrupt mayor.
Discussion:
Media Nation, @jrussellmi, @stevenwaldman, American Press Institute, @mckaycoppins, @dlberes and @bykenarmstrong
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Mathew Ingram / Columbia Journalism Review:
Q&A with Mark Rasch, lawyer for Tim Burke, whose equipment was seized in a probe of video leaks from Fox News, on the case's implications for journalists — In May, agents from the Federal Bureau of Investigation showed up at Tim Burke's home in Tampa, Florida, and seized several computers …
Matt Levine / Bloomberg:
The Penn-Barstool deal made sense for Penn and Dave Portnoy when he sold Barstool in 2020, and the Penn-Disney deal makes sense now as Portnoy regains Barstool — Also WeWork's decline, Yellow's equity value, Target as a securities-fraud target and a Reata M&A typo. — Barstool
Discussion:
Vox, Variety, The Athletic and Barrett Media
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Axios:
Penn Entertainment is selling Barstool Sports back to founder Dave Portnoy, who has accepted certain noncompete agreements; Penn had bought Barstool for $551M
Discussion:
@stoolpresidente, Yahoo Finance, New York Post, Axios, WPRI.com, @buccocapital, @danprimack, The Desk, Barrett Media, @kerrymflynn, @kerrymflynn, @ashleevance, Newser, @kerrymflynn, Front Office Sports, @pkafka, @buccocapital, @seangriffey, Financial Times, @petersterne, @tomgara, @esaagar, @neilcybart, @joepompliano, @sarafischer, @jswartz, @barstoolhubbs, @lizrhoffman, @tomaxwell, @darrenrovell, @markstenberg3, @tomscibelli, @trungtphan, @barstoolbigcat, MediaPost, Advanced Television, Sportico, The Wrap, Fortune, CNBC, Los Angeles Times, The Information, Awful Announcing, The Hill, Next TV, Variety, Deadline, Insider, Bloomberg and Cord Cutters News
Katherine Sayre / Wall Street Journal:
ESPN's deal allowing Penn to use its brand for ESPN Bet is worth $2B over 10 years: $1.5B in cash plus warrants worth about $500M to purchase shares in Penn
Discussion:
Financial Times, Front Office Sports, Barrett Media, CNN, The Streamable, New York Post and Awful Announcing
ESPN Press Room U.S.:
ESPN and Penn Entertainment announce a deal to launch ESPN Bet, as Penn rebrands its sportsbook in the 16 US states where it is licensed; PENN jumps ~15%
Discussion:
Breitbart, Business Wire, Insider, @adamry_n, Awful Announcing, @adamry_n, @sarafischer, Poynter, Front Office Sports, @kerrymflynn, @adamry_n, New York Times, @jeffjarvis, @sherman4949, @sherman4949, @lucas_shaw, @loudmouthjulia, @semaforben, @loudmouthjulia, @tim_bays, @mattbelloni, @bennyjohnson, @barstoolsports, @barstoolsports, @sherman4949, @jbflint, CBS News, The Verge, Mediaite, Sports Media Watch, CNBC, MarketWatch, The Hollywood Reporter, New York Daily News, Forbes and For The Win
Blake Brittain / Reuters:
Gizmodo EIC Dan Ackerman sues Apple, the Tetris Company, and others, accusing them of adapting his book about Tetris into a feature film without his permission — Dan Ackerman, editor in chief of the tech-news website Gizmodo, filed a lawsuit in Manhattan federal court on Monday accusing Apple …
Discussion:
Plagiarism Today, New York Post, PC Gamer, IndieWire, Metro, @xpangler, @reedalbergotti, @11thjeff, The Verge, Engadget, Talking Biz News, The Wrap, Variety, 9to5Mac and AppleInsider, more at Techmeme »
Yuvraj Malik / Reuters:
The world's largest media orgs, including the News Media Alliance, sign an open letter calling for collective negotiation over AI operators' use of their IP — A group of the world's biggest news media organizations called for revised regulations on the use of copyrighted material by makers …
Alex Isenstadt / Politico:
The RNC picks Fox Business to host the second GOP presidential primary debate on September 27, after Fox News hosts the first debate on August 23 in Milwaukee — It's now two-for-two for the Murdoch empire when it comes to presidential candidate forums. — The Republican National Committee …
Discussion:
UPI, @brianstelter, @politicoalex, @joelmathis.bsky.social, Deadline, The Hill, @wlabovitz, @jeremymbarr, The Wrap, New York Daily News and Semafor
Scott Roxborough / The Hollywood Reporter:
RTL Deutschland launches a €12.99/month “all-in-one” streaming service bundle, offering video, live sports, music, podcasts, audiobooks, and digital magazines — The new “all-inclusive” platform is promising German subscribers a one-stop-shop for video, live-sports, music …
Discussion:
The Desk
Joe Otterson / Variety:
Wonya Lucas, who became Hallmark Media's president and CEO in July 2020, plans to depart the company at the end of 2023 but will continue on the company's board — Hallmark Media president and CEO Wonya Lucas will depart the company at the end of the year.
Discussion:
TheBlaze, The Desk, Cord Cutters News, The Wrap, Advanced Television, Next TV, WORLD SCREEN, The Hollywood Reporter, Adweek and Deadline
Amanda Meade / The Guardian:
Australia's ABC shuts down all but four of its X accounts, citing “toxic interactions” and the cost, after shifting resources to TikTok and Instagram — The public broadcaster says interactions on the platform are ‘toxic’ as it closes almost all its Twitter accounts
Pamela McClintock / Hollywood Reporter:
Netflix reopens NYC's iconic Paris Theater after major upgrades with plans to screen its original movies and host special events, retrospectives, and filmmakers — The iconic cinema will be able to screen 70mm film for the first time in years and also has a new Dolby Atmos system.
Discussion:
The Wrap
Lara O'Reilly / Insider:
Canadian private equity firm Novacap acquires US TV adtech company Cadent from Lee Equity Partners, a source says for close to $600M — - PE firm Novacap has acquired TV adtech company Cadent. — The deal is valued at around $600 million, according to a source.
Discussion:
Axios, AdExchanger, Next TV and Advanced Television
Reuters:
The WGA strike hits 100 days: negotiations with major studios have stalled as picketing writers protest what they describe as a disregard for their demands — The Hollywood writers' strike marks 100 days on Wednesday with contract talks stalled and people on the picket lines protesting …
Ben Schoon / 9to5Google:
YouTube plans to stop showing recommended videos in some places, including on the homepage, if a logged-in user's watch history feature is turned off entirely — Recommended videos keep users engaged on YouTube, but starting today, YouTube will stop showing recommended videos in some places …
Discussion:
Techlusive, @sportstvratings, The Verge, Engadget, @carnage4life@mas.to and TechCrunch, more at Techmeme »
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