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, Bloomberg, Variety, @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:
CNBC, Awful Announcing, @jtoonkel and @waystarcroixco
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
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:
Media Voices, The Drum, Deadline, @sammygecsoyler, Lynne Stainthorpe on LinkedIn, The Overspill and Steve Gray on LinkedIn
Leila Abboud / Financial Times:
French production group Mediawan acquires German rival Leonine for €500M; Mediawan is unaffected by streaming cuts due to EU quotas on locally produced content — French TV and film company Mediawan is benefiting from EU quotas on locally produced content
Discussion:
Deadline, Variety, Broadband TV News and The Hollywood Reporter
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 »
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
Ashley Capoot / CNBC:
Meta, Alphabet, and Snap beat analysts' estimates in their Q1 results, showing acceleration in advertising growth after struggling to rebound from a dismal 2022 — A view of Google Headquarters in Mountain View, California, United States on March 23, 2024. — Advertising is so back.
Discussion:
Bloomberg, @brianstelter, The Verge, The Media Leader, Wall Street Journal and The Guardian, more at Techmeme »
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 …
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:
Music Ally, City A.M., Music Business Worldwide, Reuters, Sky News and Financial Times
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:
The Guardian, TechCrunch, Reuters, Bloomberg, Press Gazette, @lukolejnik, @stokel, @jjvincent, @rasmus_kleis, @rasmus_kleis, @mhbergen, Music Ally, The Verge and @james_muldoon_, more at Techmeme »
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