Top News:
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:
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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, Awful Announcing, @adamry_n, @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
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
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, IndieWire, New York Post, PC Gamer, 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 …
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
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 later on August 23 — It's now two-for-two for the Murdoch empire when it comes to presidential candidate forums. — The Republican National Committee …
Discussion:
The Wrap, UPI, @brianstelter, @politicoalex, @joelmathis.bsky.social, Deadline, The Hill, @wlabovitz, @jeremymbarr, New York Daily News and Semafor
Scott Roxborough / The Hollywood Reporter:
RTL Deutschland launches a €12.99 per month “all-in-one” streaming bundle with 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, podcasts …
Discussion:
The Desk
Joe Otterson / Variety:
Wonya Lucas, who became the president and CEO of Hallmark Media in 2020, plans to depart the company at the end of 2023 but will continue on its board — Hallmark Media president and CEO Wonya Lucas will depart the company at the end of the year. Upon her departure, Lucas will continue …
Discussion:
TheBlaze, The Desk, Cord Cutters News, The Wrap, Advanced Television, Next TV, The Hollywood Reporter, WORLD SCREEN, Adweek and Deadline
Amanda Meade / The Guardian:
Australia's ABC shutters all but four of its accounts on X, citing “toxic interactions” and cost, amid shifting resources to TikTok, Facebook, 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 more — The iconic cinema will be able to screen 70mm film for the first time in years and also has a new Dolby Atmos system.
Lara O'Reilly / Insider:
Private equity firm Novacap acquires TV adtech company Cadent from Lee Equity Partners, a source says for $600M — - PE firm Novacap has acquired TV adtech company Cadent. — The deal is valued at around $600 million, according to a source. — Cadent now plans an acquisition spree to bolster the platform's growth.
Discussion:
Axios, AdExchanger, Next TV and Advanced Television
Reuters:
The WGA strike hits 100 days: negotiations with major studios are stalled and writers are protesting 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 what they describe as a disregard for their demands.
Discussion:
Forbes, The Wrap, Variety, Deadline, @warrenleighttv, The Hollywood Reporter, Breitbart, TVNewsCheck, @deggans, Vanity Fair, Fortune, Collider, @wgawest, @lisacullen, @wgastrikeunite, @prismreports, @davidhsteinberg, @carolinerenard_, @officermankorn, Los Angeles Times and Los Angeles Times
Variety:
Source: Comcast-owned Sky, the UK's largest pay-TV broadcaster, gives up the rights to broadcast the Oscars, acquired from the BBC in 2004, as ratings decline — After a 20-year pact, the Oscars will no longer broadcast on Sky in the U.K., Variety has confirmed.
Discussion:
The Hollywood Reporter, @goldbart1, Deadline and Advanced Television
Catherine Perloff / Adweek:
Google renames “in-stream ads” to “skippable ads”, to “more accurately describe the ad format”, after an Adalytics report accused YouTube of misleading buyers — What was once in-stream ads are now skippable ads — Google removed “in-stream” …
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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
Discussion:
Techlusive, @sportstvratings, The Verge, Engadget, @carnage4life@mas.to and TechCrunch, more at Techmeme »
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