Top News:
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
Discussion:
The Wrap, Lucas Shaw on LinkedIn, The Information, Variety, The Hill, New York Post, MediaPost and Media Play News
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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.
Discussion:
New York Times, The Information, The Streamable, @variety, The Hollywood Reporter, Next TV and Variety, more at Techmeme »
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, Deadline, 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 …
Discussion:
NBC News, Variety, Hollywood Reporter, Variety, Fortune, Next TV, Observer, World of Reel, Los Angeles Times, Associated Press, New York Times, Wall Street Journal, Bill George on LinkedIn, @sherman4949, @ivanthek, @alexweprin, @sherman4949, @tvgrimreaper, The Walt Disney Company, Fox Business, @scottgustin, Bloomberg, SlashFilm, Forbes, @annmlipton@esq.social, @tvgrimreaper, @xpangler, Yahoo Finance, New York Post, @annmlipton@esq.social, @jbflint, @passantino@threads.net, CNN, @annmlipton@esq.social, @jbflint, Financial Times, The Wrap, @sherman4949, @josie.zone, @lmoses, Axios, @billackman, @elonmusk, @annmlipton@esq.social, @jbflint, Advanced Television, Gizmodo, Fortune, Variety, @sinboy.bsky.social, @mousterpiece.bsky.social, @vossbrink.bsky.social, Reuters, @thielman.bsky.social, @alishagrauso.bsky.social, @blackamazon.bsky.social, Deadline, Quartz, New York Post, CNBC, CNN, Los Angeles Times, Business Insider, W Media Research and Puck
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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
Discussion:
Quartz, New York Post, The Information, The Hill, The Guardian, Los Angeles Times, @naterattner, Deadline, Business Insider, Media Play News, CNN, Fox Business, Deadline, Financial Times and Bloomberg
Richard Lawler / The Verge:
Apple resolves an outage impacting some of its online services, including the App Store, Apple TV, Podcasts, and Music, that lasted for over an hour on April 3 — Apple's online services were hit with an outage that cut many of us off from the App Store, Apple TV, and Apple Music on Wednesday night.
Discussion:
The Desk, @glyph@mastodon.social, MacRumors and Bloomberg, more at Techmeme »
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:
Mediaite and 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
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
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 …
Discussion:
Inside Radio, @bpopetv, @marieannmendoza, @reclaimedsoul, @pksmid, @pksmid, @laurenchooljian, @pksmid and Current
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
Discussion:
Variety, Spotify, Consequence, Billboard, The Information, Ars Technica, Reuters, Business Insider, Digital Music News, Music Business Worldwide, Engadget, 9to5Google, @lucas_shaw, The Sun, BGR, Wall Street Journal, The Verge, Gizmodo, 9to5Mac, Publishing Perspectives and Publishers Weekly, more at Techmeme »
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 …
Discussion:
Meta, The Hill, Search Engine Land, TechCrunch, MediaPost and Engadget, more at Techmeme »
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.
Discussion:
Advanced Television, The Desk, Media Play News, Nielsen, Next TV and Cord Cutters News
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