Top News:
Alex Sherman / CNBC:
Sources: Paramount Global's board is preparing to fire CEO Bob Bakish as soon as Monday, after he lost the trust of controlling shareholder Shari Redstone — Bob Bakish, then president and chief executive officer of Viacom Inc., speaks during the Mobile World Congress Americas event in Los Angeles …
Discussion:
Financial Times, Deadline, Variety, Bloomberg, @animated_antic, @sherman4949, @tvgrimreaper, @sherman4949, @slim_saidi_, @bristei, Deadline, IndieWire, Variety, Cord Cutters News, The Information and The Wrap
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Jessica Toonkel / Wall Street Journal:
Sources: Paramount is planning for what happens if no big deal happens, mulling cutting $2B in costs, selling BET and TV stations, starting a streaming JV, more — The storied Hollywood company behind ‘The Godfather’ faces its biggest battle yet as Shari Redstone's merger plans collide with shareholder fury and a CEO on the outs
Discussion:
Awful Announcing, @jtoonkel and @waystarcroixco
Jessica Toonkel / Wall Street Journal:
Sources: Paramount Global's board is considering replacing CEO Bob Bakish with an “Office of the CEO” made up of division heads on an interim basis — Entertainment giant would install a committee of top executives to run an ‘Office of the CEO’ on an interim basis; no decision has been made on Bakish's future
Madhumita Murgia / Financial Times:
The Financial Times signs a deal with OpenAI to train AI models on its archived content, and to let ChatGPT respond with short summaries of FT articles — Agreement comes as Microsoft-backed start-up seeks data from reliable sources to train latest artificial intelligence models
Discussion:
TechCrunch, Reuters, Press Gazette, Music Ally, The Verge and @james_muldoon_, more at Techmeme »
Amanda Silberling / TechCrunch:
Some founders say the TikTok ban won't impact creator economy startups much, as they have diversified across multiple platforms after Trump's 2020 ban attempt — ‘Two years ago, this would have been devastating’ — President Joe Biden signed a bill on Wednesday that could ban TikTok — for real this time.
Discussion:
@robertoblake, TIME, Traackr, Polygon and ICYMI, more at Techmeme »
Bloomberg:
Blackstone offers $1.30 per share in cash for Hipgnosis, valuing the business at ~$1.57B, above Concord's $1.51B offer; Hipgnosis' board recommends the deal — - Fresh bid of $1.30 per share surpasses Concord deal price — Hipgnosis owns songs catalogs from Blondie, Kaiser Chiefs
Discussion:
Reuters, Music Ally, Music Business Worldwide, City A.M., Sky News and Financial Times
Sara Guaglione / Digiday:
Some publishers are hesitant to monetize generative AI chatbots with ads because of low CPMs and lack of scale, opting to build a subscription model first — This article was provided as an exclusive preview for Digiday+ members, who were able to access it early.
Discussion:
@caddymarketing
Mike Fleming Jr / Deadline:
Producers United, a grassroots group of 86 top Hollywood “career producers”, launches to advocate for reforms, including changing their fee structure — EXCLUSIVE: As signatories prepare to negotiate new deals with IATSE and Teamsters, it might seem like the last thing the town wants …
Discussion:
@mynette, @deadline, @ezhossington, @franklinleonard, @lynettehtaylor and New York Times
Elise Morton / Associated Press:
Russia arrests journalists Konstantin Gabov and Sergey Karelin on “extremism” charges for allegedly working for a group founded by the late Alexei Navalny — Two Russian journalists were arrested by their government on “extremism” charges and ordered by courts there on Saturday …
Sammy Gecsoyler / The Guardian:
BBC presenter Liz Bonnin's likeness was used in an ad after the company running the campaign was tricked by a fake, likely AI-generated, version of her voice — Exclusive: Liz Bonnin's face used on insect repellant advert after deal negotiated via WhatsApp and voice notes generated by AI
Discussion:
@sammygecsoyler, The Overspill and Steve Gray on LinkedIn
Ben Smith / Semafor:
Sources: Nicholas Carlson, who has been the global editor-in-chief of Business Insider since 2017, is expected to leave the publication later this summer — After a nine-month span in 2020, in which social media furors forced the resignations of editors at Condé Nast titles …
Discussion:
@semaforben, @maxwelltani and @akarl_smith
Associated Press:
Large protests outside the annual WHCD event condemned both the Western news' media coverage of the war in Gaza and President Biden's handling of the conflict — An election-year roast of President Joe Biden before journalists, celebrities and politicians at the annual White House correspondents …
Discussion:
Global Investigative …, C-SPAN on YouTube, Axios, Reuters, Variety, New York Times, @cspan, @brianstelter@threads.net, @barakravid, @farnoushamiri, @anacabrera, @chuckmodi1, @sullycnbc, @curtishouck, @yarongalai, Vanity Fair, @cspan, @lukerussert, @tarasetmayer, @emiliepfrank, @brianstelter@threads.net, @chuckmodi1, Al Jazeera, @brianstelter@threads.net, @brianstelter, Adweek, Newser, @cspan, Mother Jones, @farnoushamiri, @curtishouck, @joeygarrison, @brianstelter, @curtishouck, @thebelaaz, @cspan, @chuckmodi1, @shutdown_dc, @curtishouck, Associated Press, Rolling Stone, Politico, Mediaite, New York Times, C-SPAN on YouTube, Deadline, Deadline, Vogue, The Hollywood Reporter, Agence France-Presse, The Daily Beast, The Wrap and The Hill
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