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:
Variety, The Wrap, Benzinga, Deadline, @madisonmills22, @tracytran, Deadline, Reuters, Reuters, Adweek, @weareyourfek, Bloomberg and The Messenger
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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:
@tvgrimreaper and Next TV
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:
CNN, Sportico, New York Times, Deadline, KUSA-TV, USA Today, Metro.co.uk, Defector, @justinbaragona, FOX8 WGHP, Courthouse News Service, The Verge, The Messenger, UPROXX, WFLA-TV, Media Play News, CNBC, Variety, @henereyg, The Wrap, Mediaite, Hollywood Reporter, ComingSoon.net, Los Angeles Times, @xpangler, @siddhantadlakha, @xpangler, Awful Announcing, New York Post, @danprimack, @theinsneider, @wsj, Irish News, @wsj, TMZ.com, Boing Boing, CBS News, The Sun, All I ever wanted …, Bloomberg and Rolling Stone
Sara Fischer / @sarafischer:
Forbes CEO Mike Federle announces layoffs affecting less than 3% of staff, saying Forbes “must remain vigilant in our current economic environment” — NEW: @forbes layoffs announced today, the same day its union announced a 3-day walkout. — Unclear how many impacted yet — CEO Mike Federer said in a note to staff that Forbes “must remain vigilant in our current economic environment.”
Discussion:
Talking Biz News, @forbesunion, @ethangach, @bill_shea19, @crumbler@threads.net, @iamkylemullins, @sarafischer, @alexrkonrad, @nyguild, @redsteeze and The Wrap
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Deadline:
Marie Donoghue, former vice president of global sports video at Amazon's Prime Video, joins DraftKings as its chief business & growth officer — UPDATE: Marie Donoghue is the new Chief Business & Growth Officer at gaming company DraftKings. — In her new role, Donoghue will work closely …
Discussion:
DraftKings, @austinkarp, @draftkingsnews, Sportico and New York Post
Ben Thompson / Stratechery:
An interview with Netflix co-CEO Greg Peters on the lack of a Netflix app on the Apple Vision Pro, the WWE deal, content strategy, ads, competition, and more — I am pleased to welcome Netflix Co-CEO Greg Peters for a Stratechery Interview. Peters was named the co-CEO of Netflix …
Katie Kilkenny / The Hollywood Reporter:
The WGA East files an unfair labor practice charge against G/O Media, alleging that G/O Media has been “bargaining in bad faith” in ongoing negotiations — The union represents creative staffers at The Onion, The A.V. Club and Deadspin who have threatened to strike if a new deal isn't reached by Jan. 31.
Discussion:
The Information and Adweek
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
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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
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
Katie Kilkenny / The Hollywood Reporter:
The Directors Guild of America says it has secured the same streaming residuals and access to streaming platform viewing data that the WGA won — The union informed members on Thursday that it had also improved employer contribution rates to its pension and health plans in the second and third years of its contract.
Discussion:
Deadline, @joerussotweets, @katiekilkenny7, The Wrap, @tvgrimreaper and Variety
Barbara Peng / Business Insider:
Business Insider CEO Barbara Peng says the outlet is laying off 8% of its staff, as part of its plan 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:
@nyguild, New York Times, @megynkelly, @corbinbolies, @billackman, @sarafischer, @rafat, @stephentotilo, @bcmerchant, @phil_lewis_, @rafat, @maxwelltani, @annaknicolaou, @ethangach, @maxwelltani, @kattenbarge, @maxwelltani, New York Post, @lincodega, @emilybell, @billackman, Financial Times, CNN, The Hill, The Daily Beast, Talking Biz News, The Messenger, Variety, Press Gazette, Bloomberg, The Wrap and Reuters
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:
Chuck Hemann on LinkedIn, @sherman4949, @ballmatthew, @modestproposal1, Adweek, Media Play News, The Desk, The Streamable, Deadline and Sportico
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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:
Talking Biz News, @ryfons, Nieman Lab, @alexbruell, @olgakhazan, The Hollywood Reporter, @megjameslat, @georgia_geen, The Objective, @megjameslat and @mitrakalita
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