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10:30 PM ET, April 29, 2024

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 Top News: 
Madhumita Murgia / Financial Times:
The Financial Times signs a deal with OpenAI to train AI models on the publisher's archived content and to let ChatGPT reply with short summaries of FT articles  —  Agreement comes as Microsoft-backed start-up seeks data from reliable sources to train latest artificial intelligence models
The Hollywood Reporter:
Paramount CEO Bob Bakish steps down; Brian Robbins, Chris McCarthy, and George Cheeks will run Paramount on an interim basis as an “Office of the CEO”  —  The entertainment company, in the midst of a sale process, has tapped Brian Robbins, Chris McCarthy and George Cheeks to run Paramount on an interim basis.
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Etan Vlessing / The Hollywood Reporter:
Paramount Q1: revenue of $7.69B, up 6% YoY, and operating loss of $417M, down from $1.2B YoY; Paramount+ reached 71M+ global subscribers with revenue up 51% YoY  —  The studio unveiled its first quarter earnings amid talk of deal-making options and a CEO shake-up.
Alex Sherman / CNBC:
Sources: Shari Redstone agreed to take less than $2B for her Paramount stake as part of Skydance's “best and final” offer, lower than what was initially offered  —  Bob Bakish, CEO of Paramount, speaks with CNBC's David Faber on Sept. 6, 2023.  —  In what could easily be a plotline …
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New York Times:
Sources: in a revised bid, Skydance offered Paramount shareholders a larger stake in the combined company and a $3B cash infusion to pay debt and buy back stock  —  The terms of the new deal would provide Paramount shareholders with an investment to pay down debt and buy back stock.
Jessica Toonkel / Wall Street Journal:
Sources: Paramount is planning for what happens if no big deal arises, mulling cutting $2B in costs, selling BET and TV stations, starting a streaming JV, more
New York Times:
OAN retracts a story that said Trump's ex-lawyer Michael Cohen had an affair with Stormy Daniels, apologizes as part of a settlement with no monetary damages  —  Michael D. Cohen's lawyers took on OAN over the false story.  The settlement came as right-wing news outlets face a barrage of defamation suits.
Laura Wagner / Washington Post:
Over 50 journalism professors call on the NYT to address questions on its report that described a “pattern of gender-based violence” in Hamas' October 7 attack  —  A major investigative report into sexual violence in the Hamas attack on Israel has drawn criticism inside and outside the newspaper
Todd Spangler / Variety:
NBCUniversal plans to raise Peacock Premium with ads by $2 to $7.99/month and Premium Plus by $2 to $13.99/month starting July 18, its second hike in two years  —  NBCUniversal is looking to wring more money out of Peacock subscribers, with the streamer set to raise prices this summer — one year after its last fee hike.
Benjamin Hart / New York Magazine:
Q&A with Axios CEO Jim VandeHei on AI, “smart brevity” bullet point format, Puck's and Punchbowl's business models, his new book Just the Good Stuff, and more  —  Jim VandeHei has a knack for being ahead of the curve.  In 2006, he bolted from the Washington Post with John Harris …
Discussion: A Media Operator
CNN:
In a letter to Fox News, Hunter Biden's attorneys demand Fox remove “hacked” sexually explicit images of Hunter from its platforms, citing revenge porn laws  —  Hunter Biden is demanding that Fox News remove from its platforms sexually explicit images that President Joe Biden's son …
 
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 Earlier Picks: 
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
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
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