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
Discussion:
Fast Company, TechCrunch, @chrisgiles_, @bondhack, @mhbergen, Philipp Mueller on LinkedIn, @decka227, @btibor91, @gadget_ry@threads.net, @rasmus_kleis, @mattlcapon, @pressgazette, Press Gazette, Bloomberg, @bradlightcap, @thanosalifantis, Journalism.co.uk, Michael Hobbs on LinkedIn, @jjvincent, The Guardian, @jenit, @mikeyearworth, @stokel, @mdbaccardax, The Information, @james_muldoon_, @maurobattellini, @gdb, @alexrkonrad, Damian Burns on LinkedIn, @andrewcurran_, City A.M., @ftpressoffice, @lukolejnik, The Times, @petepachal, @mattgarrahan, @rasmus_kleis, @openai, Observer, @robinwigg, Press Gazette, The Verge and Reuters, more at Techmeme »
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.
Discussion:
Variety, StreamTV Insider, Sportico, Adweek, Wall Street Journal, Deadline, Axios, The Hill, The Guardian, @benmullin, @jeremymbarr, The Wrap, @dylanbyers, @sherman4949, IndieWire, @alexweprin, @benmullin, Variety, Media Play News, Paramount, New York Times, @jeremymbarr, The Streamable, Next TV and WORLD SCREEN
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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.
Discussion:
AdExchanger, Next TV, Paramount, Ad Age, The Daily Beast, Deadline, The Wrap, @sherman4949, @jbflint, @sherman4949, @sherman4949 and Media Play News
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 …
Discussion:
The Wrap, Forbes, The Information, Financial Times, The Verge, CNN, Los Angeles Times, Broadband TV News, @alexweprin, Fast Company, The Streamable, @sherman4949, Caroline Giegerich on LinkedIn, @sherman4949, @sherman4949, @sherman4949, Next TV, Business Insider, Deadline, IndieWire, Cord Cutters News and Variety, more at Techmeme »
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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.
Discussion:
New York Post, The Hollywood Reporter, @sherman4949, @benmullin, The Streamable, @benmullin, Barrett Media, The Wrap and The Desk
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
Discussion:
Bloomberg, New York Times, Deadline, CBS News, The Streamable, New York Post, @waystarcroixco, @jtoonkel and Awful Announcing
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.
Discussion:
One America News Network, HuffPost, Mediaite, The Daily Beast, Deadline, CNN, @nycsouthpaw and The Hill
Wall Street Journal:
Sources: NBCUniversal is prepared to pay an average of about $2.5B a year to air a package of NBA games, as WBD makes last-ditch efforts to keep those rights — Comcast's NBCUniversal is prepared to pay an average of about $2.5 billion a year to air a package of National Basketball Association games …
Discussion:
Awful Announcing, Reuters, Deadline, @2xaught7.bsky.social, Sports Media Watch, @tvgrimreaper and Barrett Media
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
Discussion:
Amal Ghandour on LinkedIn, @thrasherxy, @peterkirstein, @matteomedia, @bazzinyu and @jayrosen_nyu
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.
Discussion:
Next TV, The Hollywood Reporter, ComingSoon.net, CNBC, TVLine, The Desk, @xpangler, The Streamable, Adweek, Deadline, Screen Rant, UPROXX, The Verge, BGR, IndieWire and The Wrap, more at Techmeme »
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, @akarl_smith, @maxwelltani and Talking Biz News
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 …
Discussion:
NBC News, New York Post, Rolling Stone, @brianstelter, @acyn, Mediaite, TVLine, The Daily Beast, @_johnnymaga, The Gateway Pundit and @haleygirlwagun
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