Top News:
Cristiano Lima-Strong / Washington Post:
The US House passes a bipartisan TikTok bill that forces a sale or ban of the app; the legislation faces an uncertain Senate path without a companion measure — The swift rebuke shifts attention to the Senate, where the bill faces significant political barriers and constitutional concerns
Discussion:
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The Information:
ByteDance investors, reassessing what the company's value would be without TikTok, estimate that TikTok lost several billion dollars in 2023 on revenue of ~$20B — TikTok, facing a growing threat of a U.S. ban, has been a global juggernaut over the past few years, drawing more than a billion monthly users …
Discussion:
Los Angeles Times, @zitron.bsky.social and Contxto, more at Techmeme »
Financial Times:
How the UK Conservative party establishment fought to frustrate RedBird's UAE-backed Telegraph bid; sources say Business Secretary Kemi Badenoch had a key role — Rishi Sunak's ‘hand was forced’ as PM acts to change law to stop foreign states from buying media groups
Discussion:
The Wrap, New York Times, @sarahleah1, Reuters, Spectator, Mediaite, The Media Leader and The Guardian
Jeff Horwitz / Wall Street Journal:
Meta plans to shut down CrowdTangle in August 2024, to be replaced by Meta Content Library for academic and nonprofit researchers, but not most news outlets — CrowdTangle, a source for embarrassing articles about Facebook and Instagram, has been used to track conspiracy theories, viral content
Discussion:
Quartz and Engadget, more at Techmeme »
Wes Davis / The Verge:
Meta will be “forced” to remove news from its platforms in Illinois if the state passes a bill requiring Meta, Google, and others to pay local news outlets — A new Illinois bill called the Journalism Preservation Act (SB 3591) that's currently sitting in the state's Senate …
Chris Kornelis / New York Times:
Gerald M. Levin, the former Time Warner CEO who oversaw the AOL merger, widely considered the worst corporate merger in US history, died on March 13 at age 84 — He was called a visionary in cable television, but his foray into the world of the internet, in a marriage with AOL, proved disastrous.
Discussion:
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Reuters:
UN report: Israel violated international law by firing at a group of “clearly identifiable journalists” on October 13, killing Reuters reporter Issam Abdallah — An Israeli tank killed Reuters reporter Issam Abdallah in Lebanon last year by firing two 120 mm rounds at a group of …
Discussion:
Talking Biz News
Max Tani / Semafor:
Sources: Don Lemon had not technically inked an X contract before Elon Musk killed the deal; Lemon plans to post his interview with Musk on March 18 on YouTube — The Scoop — Elon Musk and Don Lemon are escalating towards what could be a bitter contract dispute after X's owner abruptly terminated …
Discussion:
The Desk, Fortune, The Hill, Poynter, Mediaite, Newser, @juwanthewriter, @semaforben, @semaforben, @nick_field90, New York Post, New York Times, Business Insider, Deadline, CNN, The Daily Beast, Fox News, Fast Company, CBS News, @kurtwag8@threads.net, @brianstelter@threads.net, @annmlipton@esq.social, Los Angeles Times, MediaPost, The Guardian, Quartz, TMZ.com and Bloomberg
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Alex Weprin / The Hollywood Reporter:
Don Lemon says Elon Musk canceled The Don Lemon Show's partnership with X, hours after taping an interview with Musk on March 8 for the show's debut episode
Discussion:
@elonmusk, @karaswisher, Adweek, Don Lemon on Instagram, Fox News, @xbusiness, Forbes, Axios, The Verge, Business Insider, Mediaite, @kurtwagner8, @kurtwagner8, @brianstelter, @charlesarthur, @karaswisher, @brianstelter, @kurtbardella, @dylanbyers, @karaswisher, @karaswisher, TMZ.com, Us Weekly, Rolling Stone, Engadget, The Daily Dot, CNN, @helenkennedy.bsky.social, Variety, HuffPost, Newser, @crumbler@threads.net, Page Six, UPROXX, Wall Street Journal, @pkafka@threads.net, Vibe, TechCrunch, Deadline, Reuters, The Daily Beast, New York Post, @GossiTheDog@cyberplace.social, The Wrap, Consequence, TVLine, NewsNation, The Wrap and @donlemon
Russ Crupnick / MusicWatch:
US paid music subscribers hit a record 109M in 2023, rising to 136M including SiriusXM and Amazon Prime Music; seven of every 10 US millennials pay to subscribe — MusicWatch Annual Music Study points to continued health of the US music market, a record number of paid subscribers, and increased spend on recorded music.
Discussion:
Inside Radio, @billyyfantis, Billboard and Digital Music News, more at Techmeme »
Spencer Soper / Bloomberg:
Amazon says “a tiny fraction” of sellers paid for ads for products users couldn't buy and pledges a fix; Amazon offered a $15K refund to a seller seeking $300K — The company has pledged to reimburse sellers for the mistake and make fixes to its lucrative advertising operation.
Discussion:
Engadget and Business Insider
Trishla Ostwal / Adweek:
Sources: Google's Search Generative Experience could cut organic search traffic to publishers by 20% to 60%; Google says “it's premature to estimate” the impact — Search Generative Experience could upend over 60% of publishers' total organic traffic
Discussion:
Digital Content Next, @outonalumb, @baldur@toot.cafe, @edzitron, @kthomasulland, @alexeheath, @trishlaostwal and @edzitron, more at Techmeme »
Manish Singh / TechCrunch:
Filing: Paramount Global has agreed to sell its 13% stake in Indian media house Viacom18 to Reliance for $517M, raising Reliance's stake to 70.49% — Mukesh Ambani's Reliance is buying Paramount Global's 13% stake in Viacom18 for $517 million as Asia's richest man broadens his entertainment business …
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