Mediagazer: Filing: GB News owner All Perspectives has been forced to provide a further £41M in funding to cover operating costs, and is now owed £83.8M by GB News (Daniel Thomas/Financial Times)

7:40 AM ET, March 5, 2024

Top News:

Javier Espinoza / Financial Times:

The EU Commission fines Apple €1.8B for stifling competition from rival music streaming services, the EU's third-largest antitrust fine; Apple plans to appeal — iPhone maker hit by first-ever Brussels fine as competition watchdogs step up scrutiny of Big Tech

Apple:

Apple says Spotify was the “primary advocate” and “biggest beneficiary” of the EU's ruling, Spotify pays Apple nothing, and that “free isn't enough for Spotify” — CUPERTINO, CALIFORNIA Today, the European Commission announced a decision claiming the App Store …

Daniel Thomas / Financial Times:

Filing: GB News owner All Perspectives has been forced to provide a further £41M in funding to cover operating costs, and is now owed £83.8M by GB News — Vehicle backed by hedge fund tycoon Paul Marshall steps in as right-leaning broadcaster increases number of staff

Bron Maher / Press Gazette:

GB News reports year to May 2023 revenue up 80% YoY to £6.7M, losses up 38% YoY to £42.4M, for £76M in losses since 2021, and 295 staff, up from 175 in May 2022 — Losses in the latest accounting period were six times greater than revenue.

Discussion: Mediaite, @carolvorders, @otto_english, @seaninsound and @jamesrbuk

Laura Wagner / Washington Post:

The NewsGuild of New York accuses the NYT of targeting staff with Middle Eastern or North African backgrounds in a investigation into October 7 coverage leaks — In a letter to the publisher, a union leader said the leak probe has singled out employees ‘for their national origin, ethnicity and race’

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Lucas Manfredi / The Wrap:

Warner Bros. Discovery plans to start cracking down on Max password sharing later this year with a wider rollout in 2025, joining rivals Netflix and Disney+ — The streamer's paid sharing initiative will launch later this year, with a broader rollout in 2025

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Lucas Shaw / Bloomberg:
While HBO hit streaming DTC profitability under David Zaslav, via licensing to Netflix, slashing marketing, layoffs, and more, WBD's stock is down 25%+ YTD

Discussion: @lucas_shaw, Appleosophy, @lucas_shaw, @masasoncap, @lucas_shaw, @jalefkowit@octodon.social, @tvgrimreaper and Fox Business

Todd Spangler / Variety:

Fox CEO Lachlan Murdoch says the Fox, Disney, and WBD sports streaming joint venture is anticipating signing up 5M customers in the first five years — The 5 million mark will be where the JV “settles after five years,” Murdoch said, speaking Monday at the 2024 Morgan Stanley Technology, Media & Telecom Conference in San Francisco.

Discussion: Deadline, @jbflint, New York Post, Sports Media Watch, The Streamable, The Desk, Sportico, @jbflint, The Wrap, Business Insider, @sherman4949, Reuters, Awful Announcing, Media Play News and Bloomberg

Max Goldbart / Deadline:

Ofcom has “significant concerns about GB News' editorial control of its live output” after finding GB News in breach over Laurence Fox's misogynistic comments — Ofcom has said it has “significant concerns about GB News' editorial control of its live output” …

Discussion: Ofcom, Variety, @alistaircoleman, @parody_pm, @drmatthewsweet, Mediaite, Financial Times, HuffPost, The Guardian, Broadband TV News, Advanced Television and Press Gazette

Jane Elizabeth / Nieman Lab:

A look at the Chicago Public Media merger with Chicago Sun-Times two years later: newsroom and staff compensation grew, Sun-Times dropped paywall, and more — After a $61 million acquisition by public media, Chicago-Sun Times readers get free content and the newsroom has grown.

Discussion: American Press Institute, Holly Edgell on LinkedIn and @philmeyer@newsie.social

Bron Maher / Press Gazette:

An interview with Mehdi Hasan about his new media company Zeteo, which he says has gained “thousands more” paid subscribers than expected in its first week — Hasan said focusing on subscribers, not advertisers, is “better for business”. — Mehdi Hasan has told Press Gazette …

Discussion: @matt_walsh, @ernie.tedium.co and Zeteo

Bloomberg:

Vivendi's Canal+ increases its bid for South Africa's MultiChoice by almost a fifth, valuing MultiChoice's shares at $2.9B, and enters exclusive takeover talks — - Vivendi's Canal+ is working with JPMorgan, Bank of America — Vivendi says its committed to JSE listing, transformation

Discussion: Deadline and Broadband TV News

Marty Swant / Digiday:

NewsGuard adds AI-assisted tools for early detection of election-related misinformation, with exclusion lists for advertisers that want to avoid such misinfo — NewsGuard, the news rating service, is adding more automation tools as it works to track misinformation efforts ahead of the 2024 elections.

Discussion: NewsGuard, Journalism.co.uk and @martyswant

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Bron Maher / Press Gazette:
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