Mediagazer: Unionized Forbes editorial employees started a work stoppage Thursday that will last through Monday, in response to protracted contract negotiations (Josh Eidelson/Bloomberg)

8:05 AM ET, January 26, 2024

Top News:

Mark Sweney / The Guardian:

Telegraph Media Group CEO Nick Hugh steps down as the UK prepares to launch a second probe into plans to transfer control of the titles to a UAE-backed group — Nick Hugh's exit comes amid concern over Barclay family's deal to transfer control of titles — The chief executive of the Telegraph …

Discussion: Press Gazette, Reuters and Bloomberg

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: CNN, Talking Biz News, @forbesunion, @ethangach, @bill_shea19, @iamkylemullins, @sarafischer, @alexrkonrad, @nyguild, @taradublinrocks, @redsteeze, @jayrosen_nyc@threads.net, @dankennedy_nu@threads.net, @crumbler@threads.net and The Wrap

Josh Eidelson / Bloomberg:
Unionized Forbes editorial employees started a work stoppage Thursday that will last through Monday, in response to protracted contract negotiations

Discussion: @iamkylemullins, @alexrkonrad, @deefreemank, @forbesunion, Talking Biz News, Axios and nyguild.org

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, NBC 7 San Diego, NME, The Wrap, @madisonmills22, @tracytran, Benzinga, @weareyourfek, Adweek, Deadline, Reuters, Deadline, Bloomberg and The Messenger, more at Techmeme »

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: @paulvrea, @tvgrimreaper, Reuters and Next TV

Winston Cho / Hollywood Reporter:

The George Carlin estate sues Dudesy, which released a comedy special featuring an AI-generated recreation of George Carlin, alleging copyright infringement — “We have to draw a line in the sand,” says daughter Kelly Carlin, who sued creators of an hourlong special titled 'George Carlin: I'm Glad I'm Dead.'

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 wrestling business, raising questions about 2022 board probe into CEO's payouts

Hanaa' Tameez / Nieman Lab:

How disagreements between the Los Angeles Times and the LA Times Guild over seniority protections resulted in more than 60 journalists of color being laid off — Disagreements between the LA Times and its Guild over seniority protections ended in more than 60 journalists of color being laid off.

Discussion: @sarahscire and Jeff Bercovici on LinkedIn

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: @austinkarp, @draftkingsnews, DraftKings, Sportico and New York Post

Reuters:

A Moscow сourt extends the custody of WSJ reporter Evan Gershkovich to March 30, 2024 as he awaits trial; Gershkovich can appeal within three days — A Moscow сourt extended the custody of Wall Street Journal reporter Evan Gershkovich by two months on Friday as he awaits trial on spying charges that he denies.

Discussion: Fox News, Voice of America, The Times of Israel and Irish News

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 …

Discussion: @markgurman, @loudmouthjulia, @mostly.borrowed.ideas …, @markgurman, @stevemoser, @mostly.borrowed.ideas …, @loudmouthjulia, @markgurman, 9to5Mac, Benzinga, Gizmodo and AppleInsider, more at Techmeme »

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

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: @joerussotweets, @katiekilkenny7, @tvgrimreaper, Variety, The Wrap and Deadline

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

Discussion: Reuters

Aditya Kalra / Reuters:
Sources: Zee Entertainment tells Disney that the company does not plan to move forward with a deal to pay ~$1.4B for cricket TV rights, announced in August 2023

Discussion: Variety

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: Comcast, @sherman4949, @modestproposal1, @ballmatthew, Observer, Chuck Hemann on LinkedIn, Adweek, Media Play News, The Desk, The Streamable, Deadline and Variety

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: WORLD SCREEN, The Wrap and NBC Bay Area

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Nate Raymond / Reuters:
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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

Discussion: YouTube, @otraletra, @gmochkofsky, @mathewi, @gmochkofsky, @gabemschneider, @gmochkofsky, Maggie Farley on LinkedIn, @lpolgreen@threads.net, @kalihays1@threads.net, @brizzyc, Observer, Nieman Lab, Dimas Sanfiorenzo on LinkedIn, Newmark J-School and Anita Zielina on LinkedIn

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

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

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Kent Walker / The Keyword:
Google says the DOJ's “wildly overbroad proposal goes miles beyond the Court's decision”, would hurt US consumers, and jeopardize the US' global tech leadership

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Paige Smith / Bloomberg:
The CFPB will supervise tech companies with digital wallets, like Apple Pay, Google Pay, and Venmo, with 50M+ annual transactions, treating them more like banks

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