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3:25 PM ET, May 9, 2024

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Lucas Shaw / Bloomberg:
Sources: WBD plans more cost cutting to hit financial targets for next year, including the possibility of more layoffs, and has decided to raise Max prices
Rick Edmonds / Poynter:
Gannett fires an experienced editor overseeing 26 community newspapers for “sharing proprietary information” with a “competing media company”, which was Poynter  —  Sarah Leach spoke to Poynter in an attempt to staff up her team.  She may have been successful, even if she won't be at Gannett to see it through.
Sara Fischer / Axios:
Vice Media plans to create a joint venture with Savage Ventures, which will invest “tens of millions of dollars”, to relaunch its sites, including Vice.com  —  - Savage Ventures was one of the entities that looked to buy Vice out of bankruptcy last year.
CNBC:
Sources: Sinclair is looking to sell 60+ of its 185 TV stations, in markets including Minneapolis and Austin, and is exploring options for the Tennis Channel  —  Signage stands outside the Sinclair Broadcast Group Inc. headquarters in Cockeysville, Maryland, U.S., on Friday, Aug. 10, 2018.
Discussion: The Desk
Tyler Falk / Current:
At a House hearing on “NPR bias”, Republicans criticize NPR CEO's absence but some praise local stations, and witnesses call for decentralizing or defunding NPR  —  House Republicans criticized NPR CEO Katherine Maher Wednesday for not attending a hearing about alleged bias within the network …
Mark Stenberg / Adweek:
OpenAI's pitch deck to news publishers promises priority placement to partners in chat conversations and payment contingent on “display success”  —  OpenAI's Preferred Publisher Program offers media companies licensing deals  —  The generative artificial intelligence firm OpenAI …
Beth Mellor / Bloomberg:
After Concord said its $1.25 per share offer for Hipgnosis was final, Hipgnosis is set to be sold Blackstone at $1.30 per share, valuing the fund at ~$1.57B  —  That was topped last week by a $1.30 per share bid from Blackstone, valuing the business at about $1.57 billion.
New York Times:
Sources: if Sony and Apollo acquire Paramount Global, they plan to sell off CBS, cable channels like MTV, and Paramount+, while keeping Paramount Pictures  —  CBS and other well-known properties would be sold if Sony and Apollo are able to buy Paramount.  But the new owners would keep the movie studio.
Aisha Counts / Bloomberg:
Reddit releases a new content policy, including a ban on AI data licensees from using deleted posts or comments; Reddit expects $60M+ in 2024 licensing revenue  —  - Social media company restricts data use by AI companies  — Reddit expects to generate $60 million from licensing in 2024
Dade Hayes / Deadline:
Disney and WBD announce a streaming bundle of Disney+, Hulu, and Max, with ad-supported and ad-free plans, beginning this summer in the US, with pricing to come  —  Disney and Warner Bros. Discovery are breaking ground in streaming with a bundled offering featuring Disney+, Hulu and Max in a single package.
Daniel Thomas / Financial Times:
Ofcom report: UK broadcasters predict a “tipping point” when broadcast TV will become economically unviable as distribution costs rise and audiences move online  —  Media watchdog warned of ‘tipping point’ for model's economic viability  —  British broadcasters have warned …
Discussion: Telegraph and Advanced Television
 
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Jeffrey A. Trachtenberg / Wall Street Journal:
News Corp reports Q3 revenue down 1% YoY to $2.42B, net profit down 40% YoY to $30M, ad revenue fell 8.9% YoY to $358M, and 3.715M digital subscribers
 Earlier Picks: 
 

 
From Techmeme:

Mark Gurman / Bloomberg:
Sources: Apple and OpenAI are preparing a major announcement of their partnership at WWDC; the new AirTag with a better chip is scheduled to arrive by mid-2025

Amy Thomson / Bloomberg:
OpenAI pulls ChatGPT's Sky voice that users say sounds like Scarlett Johansson, says it is an actress' voice and wasn't chosen to be an “imitation” of Johansson

Rolfe Winkler / Wall Street Journal:
Neuralink gets US FDA approval to implant its brain chip in a second person; source: FDA signed off on proposed fixes like embedding wires deeper into the brain
 
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