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8:25 PM ET, April 3, 2024

Mediagazer

 Top News: 
Jessica Toonkel / Wall Street Journal:
Sources: Paramount's board and Skydance Media agree to exclusive merger discussions, and Paramount will pause talks with other bidders; PARA rises ~15%  —  Agreement paves the way for an exit by controlling shareholder Shari Redstone  —  A deal between Paramount and Skydance is potentially one step closer to happening.
RELATED:
Lucas Shaw / Bloomberg:
Sources: Shari Redstone, Paramount Global's controlling shareholder through National Amusements, reaches a tentative deal to sell her stake to Skydance Media  —  - Redstone is the controlling shareholder of Paramount  — Ellison's Skydance has partnered with Paramount on films
New York Times:
Sources: Apollo Global Management told Paramount over last weekend that it was interested in acquiring the full company for $26B+; Paramount chose not to engage  —  Paramount's board of directors, which was already deep into talks with the media company Skydance, didn't engage with the offer.
Discussion: Variety, Cord Cutters News and The Wrap
CNBC:
Disney prevails in the proxy fight with Nelson Peltz's Trian Partners as shareholders vote to reelect its full board, a stamp of approval for Bob Iger's efforts  —  (L to R) Chief executive officer and chairman of The Walt Disney Company Bob Iger and Mickey Mouse look on before ringing …
RELATED:
Wall Street Journal:
How Disney repeatedly extending Bob Iger's contract, including five extensions between 2011 and 2017, became a key criticism of Nelson Peltz's Trian Partners
Shannon Ryan / ABC13:
US Sen. Ted Cruz pushes back against reports that iHeartMedia, which hosts his podcast, gave $630K+ in 2023 to a PAC that exists solely to ensure his reelection  —  Sen. Ted Cruz is facing questions over a tangled web of political contributions involving the company that airs his podcast.
Discussion: The Daily Beast
Dominic Ponsford / Press Gazette:
Michael Leidig's news agency network, which employs 30 and includes Newsflash, CEN, AsiaWire, and Clipzilla, shuts down, citing a fall in commissioning budgets  —  Michael Leidig blames fall in commissioning budgets and newsroom AI for difficulties.  —  A news agency network that employs 30 people …
Discussion: @semaforben
Dave McKinney / WBEZ Chicago:
Chicago Public Media, which bought the Sun-Times in 2022, announces layoffs, cutting nearly 15% of 62 unionized content creators at public radio station WBEZ  —  The move to terminate nearly 15% of 62 unionized content creators at WBEZ and four people at the Chicago Sun-Times comes amid …
Andrea Navarro / Bloomberg:
Grupo Televisa plans to buy out AT&T's stake in Sky Mexico, payable in 2027 and 2028; Sky CEO Luis Malvido will leave on April 15, replaced by Francisco Valim  —  - Companies did not disclose an amount for the transaction  — The stake will be paid in 2027 and 2028, Televisa added
Discussion: Reuters
Bloomberg:
Sources: Spotify plans to raise prices by $1 to $2 per month in the UK, Australia, Pakistan, and two other markets by the end of April, and the US later in 2024  —  - The audio service will raise prices in a few major markets  — Spotify will create new plan that doesn't include audiobooks
Amrita Khalid / The Verge:
Facebook updates its mobile video player with a TikTok-like vertical look and new controls for Reels, Live, and longform videos, starting with the US and Canada  —  Facebook is launching an updated mobile video player that will bring the vertical look made ubiquitous by TikTok and Reels …
David Satin / The Streamable:
Roku partners with the NBA to launch the first-ever NBA-branded FAST channel, and a NBA Zone content hub with access to basketball content  —  Fans will be able to watch classic games, see highlights, originals, documentaries and more on the first-ever NBA FAST channel.
 
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 More News: 
Mia Sato / The Verge:
Patreon rolls out a Reddit-like community moderation feature that lets podcasters, artists, writers, and other creators assign community members as moderators
Sara Fischer / Axios:
The NYT plans to make most of its articles available as narrations read via an automated voice, rolling out to 10% of website, app, and audio app users
Lachlan Cartwright / New York Times:
An ex-editor of The National Enquirer recalls the tabloid's notorious “catch and kill” campaign that is now at the heart of Donald Trump's first criminal trial
 Earlier Picks: 
New York Times:
An interview with Oren Etzioni, the founder of nonprofit TrueMedia.org, which has released free AI tools for reporters and fact checkers to identify deepfakes
Jef Feeley / Bloomberg:
Donald Trump sues two co-founders of Trump Media & Technology Group, claiming they set the company up wrong and shouldn't get stock; the two earlier sued Trump
 

 
From Techmeme:

Wall Street Journal:
Gina Raimondo says holding back China in the chips race is a “fool's errand”, and investment, more than export controls, will keep US ahead of Beijing

Esha Dey / Bloomberg:
Tesla's shares are up 73% since Election Day, as several analysts see the Trump administration easing rules for self-driving tech, benefiting Tesla's ambitions

Reuters:
Albania bans TikTok for a year from January 2025, part of a broader plan to make schools safer following the killing of a 14-year-old near a school in November
 
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