Top News:
New York Times:
The Newhouse family's Advance is set to reap a $1.4B windfall on Thursday when Reddit is listed on the NYSE; Advance's Condé Nast bought Reddit for $10M in 2006 — The Newhouse family, which controls the Advance media empire, made a 2006 investment of $10 million in the social site, which plans to go public on Thursday.
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CNBC:
Reddit priced its IPO at $34 a share, the top of its expected range, bringing in $519M and valuing the company at about $6.5B — - Reddit priced its IPO on Wednesday at $34 a share, valuing the social media company at about $6.5 billion. — The company priced at the top of its expected range, which was $31 to $34 a share.
Discussion:
Reddit, @waxmonkey.bsky.social, @katie_roof, New York Times, Barron's Online, The Verge, The Information, Business Insider, @josh.uno, Financial Times, Bloomberg, Axios, @lorakolodny@threads.net, Wall Street Journal, @akhenosiris, Axios, Shacknews, The Guardian, Proactive, MarketWatch, Forbes, TechCrunch, Quartz and Sportico, more at Techmeme »
Jessica Toonkel / Wall Street Journal:
Sources: private equity firm Apollo Global Management has made an $11B offer to buy Paramount Global's film and TV studio — Offer comes as Paramount's directors are weighing merger with Skydance — Private-equity firm Apollo Global Management has made an $11 billion offer …
Discussion:
Reuters, The Information, Variety, The Wrap, TrekMovie.com, Dan Rayburn on LinkedIn, New York Post, @lucas_shaw, Forbes, Deadline, @nycsouthpaw@threads.net, Los Angeles Times, The Hollywood Reporter, TheDesk.net on LinkedIn, Jessica Toonkel on LinkedIn, The Desk, Next TV, Bloomberg and Cord Cutters News, more at Techmeme »
Richard Sandomir / New York Times:
Bill Jorgensen, a broadcast journalist who anchored The 10 O'Clock News on New York's Channel 5 for 12 years, died on March 13 at 96 — Getting his start in the Midwest, he was best known for leading the New York broadcast “The 10 O'Clock News.” — Bill Jorgensen, a serious-minded broadcast journalist …
Lauren Forristal / TechCrunch:
NBCUniversal unveils new features coming to Peacock ahead of the Paris Olympics in July, including the ability to view up to four simultaneous matches — Today, during NBCUniversal's annual technology conference, One24, the company revealed a slew of features coming to its streaming service Peacock ahead …
David Gilbert / Wired:
X suspended accounts of some journalists and researchers who posted the alleged real name of neo-Nazi cartoonist Stonetoss after Stonetoss appealed to Elon Musk — Researchers and journalists have been blocked on X from sharing the alleged identity of the neo-Nazi cartoonist Stonetoss.
Discussion:
Advocate, @hannahgais, Anonymous Comrades Collective, @gwensnyderphl, Anthony Duignan-Cabrera on LinkedIn, @daithaigilbert, @jaredlholt, @mattbinder, @daithaigilbert, @westmm4028, @daithaigilbert, @stevanzetti, @tom___scott, @AnarchoNinaAnalyzes …, @jalefkowit@octodon.social, @osomatic.bsky.social, @JoshuaHolland@mastodon.social and @SteveThompson@mastodon.social, more at Techmeme »
Todd Spangler / Variety:
Deloitte study: US consumers pay an average of $61 per month for four video streaming services, up 27% YoY; 36% say available content is not worth the price — Streaming video services continue to face challenges like high costs, high churn rates and competition from other media …
Discussion:
@xpangler, Christian Toto on LinkedIn, Breitbart, Fast Company, @teena_maddox, IndieWire, Quartz and Business Insider
Zephyr Teachout / The Atlantic:
The TikTok divestment bill fits into a long and important US tradition of forbidding a hostile foreign power from controlling a major communication platform — America has a long history of shielding infrastructure and communication platforms from foreign control.
Discussion:
@zephyrteachout, @theatlantic, @dlberes, @mark_histed, @zephyrteachout, @zephyrteachout, @zephyrteachout and @niubi, more at Techmeme »
Cynthia Littleton / Variety:
A US federal judge dismisses DirecTV's lawsuit from March 2023 that accused Nexstar of engaging in price-fixing activity around the retransmission consent fees — A federal judge has dismissed the antitrust lawsuit that DirecTV filed against Nexstar last year accusing the TV station giant …
Discussion:
The Wrap, Radio & Television …, The Desk, Deadline and Cord Cutters News
Sara Guaglione / Digiday:
LGBTQ+ publisher Q.Digital has acquired Outsports from Vox Media's SB Nation in an all-stock deal; all seven members of the Outsports team moved to Q.Digital — LGBTQ+ publisher Q.Digital has acquired Outsports from Vox Media. The deal was an all-stock equity transaction in which the co-founders …
Discussion:
Outsports, Dawn Ennis on LinkedIn, Digiday on LinkedIn, Q.Digital, Inc. and Awful Announcing
Richard Luscombe / The Guardian:
PEN America donates emergency funds for Palestinian writers and invites critics to meet with its leadership to discuss PEN's response to the Israel-Gaza war — The writers group is also making a ‘substantial financial contribution’ to fund for distribution to Palestinian writers
Discussion:
PEN America and Literary Hub
Mark Stenberg / Adweek:
Penske Media is exclusively selling Vox Media's ad inventory in Canada, making them the second-largest source of digital media inventory in Canada, per Comscore — The partnership comes 1 year after PMC invested $100 million in the company — Penske Media Corp., which owns a portfolio …
Discussion:
Dan Owen on LinkedIn and Mark Stenberg on LinkedIn
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