Top News:
Sara Salinas / CNBC:
In a memo, Paramount CEO Bob Bakish announces layoffs, citing a need to “operate as a leaner company and spend less”; he did not disclose the size of the cuts — - Paramount CEO Bob Bakish announced layoffs at the media company. — He did not disclose how many jobs the company would cut.
Discussion:
The Wrap, Variety, Associated Press, Deadline and @tracytran
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Georg Szalai / The Hollywood Reporter:
In a memo, Paramount CEO outlines growth strategies for 2024, including “driving to streaming profitability” and “maximizing content with the biggest impact” — As speculation kicks up about a sale, Bob Bakish wrote a memo outlining strategies such as …
Discussion:
Next TV and @tvgrimreaper
Josh Eidelson / Bloomberg:
Unionized Forbes editorial employees plan to start a work stoppage today that will last through Monday, in response to protracted contract negotiations — - First-ever walkout at business magazine to begin on Thursday — ‘They are dragging their feet and slow-walking’ process
Discussion:
Reuters, The Wrap, @iamkylemullins, @alexrkonrad, @deefreemank, @forbesunion, Axios and nyguild.org
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Katie Robertson / New York Times:
NY Daily News journalists begin a one-day work stoppage to protest layoffs and a new overtime policy; a third of union members have left since 2022, leaving 54 — Newsroom workers at The Daily News Union, which formed in 2021, are in negotiations for their first contract.
Discussion:
The Wrap, New York Post and nyguild.org
Khadeeja Safdar / Wall Street Journal:
Janel Grant, an ex-WWE staffer who received a payout from Vince McMahon and signed an NDA in 2022, files a lawsuit accusing WWE and McMahon of sex trafficking — Janel Grant files lawsuit saying McMahon pressured her into sex with him and other men at WWE, raising questions about 2022 board probe into CEO's payouts
Discussion:
Variety, CBS News, Metro, WFLA, The Verge, New York Post, ComingSoon.net, CNBC, USA Today, Media Play News, Hollywood Reporter, The Sun, Boing Boing, @justinbaragona, @henereyg, @wsj, @wsj, @siddhantadlakha and @theinsneider
Georg Szalai / The Hollywood Reporter:
Comcast reports Peacock revenue rose 57% YoY to $1B in Q4, a $825M loss in Q4 and $2.75B in 2023 for the unit, and 31M paying subscribers, a net gain of 3M — NBCUniversal parent Comcast, led by chairman and CEO Brian Roberts, reported earnings on Thursday.
Discussion:
Adweek, Deadline, Variety, @sherman4949, Media Play News, @ballmatthew, Broadband TV News, The Streamable, @modestproposal1, The Desk and Cord Cutters News
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Alex Sherman / CNBC:
Comcast reports NBCU revenue rose 3.1% YoY to $6.98B and adjusted EBITDA dropped 50% YoY to $108M due to rising sports and Peacock programming costs
Discussion:
The Wrap, WORLD SCREEN, NBC Bay Area and Bloomberg
Barbara Peng / Business Insider:
In a memo, Business Insider CEO Barbara Peng says the outlet is laying off 8% of its staff, part of plans to focus on covering business, tech, and innovation — At the end of 2023, we announced our way ahead: We're Business Insider, our center of gravity is business, tech, and innovation …
Discussion:
New York Times, New York Post, CNN, Bloomberg, Talking Biz News, The Hill, Variety, @nyguild, The Wrap, Financial Times, @bcmerchant, Semafor, Press Gazette, @maxwelltani, @corbinbolies, @annaknicolaou, @megynkelly, @stephentotilo, @ethangach, @phil_lewis_, @billackman, Reuters, The Messenger, @sarafischer, @maxwelltani, @emilybell and The Daily Beast
Bloomberg:
Sources: Disney's India assets are being valued at ~$4.5B in merger negotiations with Reliance, less than the $10B Disney initially pursued — - Unit valued at about $4.5 billion from $10 billion previously — Losses incurred from cricket rights weigh on its valuation
RELATED:
Nate Raymond / Reuters:
A US appeals court rules 9-7 that Texas-based citizen journalist Priscilla Villarreal cannot sue officials over her arrest for asking a police source questions — A citizen journalist in Texas cannot sue officials over her arrest for asking a police source questions, a divided federal appeals court …
Discussion:
The Texas Observer and Fox News
Sara Fischer / Axios:
CUNY's Craig Newmark School of Journalism plans to cover tuition for 50% of students in 2025 and raise money to expand free tuition to all students by 2026 — The Craig Newmark Graduate School of Journalism at CUNY is going tuition-free, its namesake Craig Newmark and the school's dean, Graciela Mochkofsky, told Axios.
Meg James / Los Angeles Times:
The Los Angeles Times appoints Terry Tang as the paper's interim executive editor; Tang has been LA Times's editorial page editor since February 2022 — Los Angeles Times owner Dr. Patrick Soon-Shiong has appointed Terry Tang, editor of the editorial page, as the paper's executive editor on an interim basis.
Discussion:
@ryfons, The Hollywood Reporter, @alexbruell, @megjameslat and @megjameslat
Amy Hawkins / The Guardian:
Documents reveal that several eligible sci-fi works were excluded from the 2023 Hugo Awards, held for the first time in China, raising censorship concerns — Concerns raised about interference or censorship after documents showed writers were barred despite receiving enough nominations
Daniel Thomas / Financial Times:
Paris-based ad and marketing group Publicis plans to invest €300M in AI, including €100M in 2024, to help improve media planning, buying, and optimization — Decision comes as advertising industry faces existential threats from generative artificial intelligence
Discussion:
Digiday, Publicis Groupe, TechStartups, Bloomberg, Reuters, MediaPost and Ad Age
Thomas Buckley / Bloomberg:
How the rising prices of streaming services are driving users to pirate websites with a ~90% profit margin that bring in ~$2B per year in ads and subscriptions — Illegal subscription services that steal films or TV shows bring in $2 billion a year in ads and subscriber fees.
Discussion:
The Wrap and Bill Nelson on LinkedIn, more at Techmeme »
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