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4:00 PM ET, May 22, 2024

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 Top News: 
Tom Friend / Sports Business Journal:
Sources: the NBA is formalizing deals with Disney, NBC, and Amazon, which may prompt WBD to sue; ESPN may pay $2.8B annually, NBC $2.6B, and Amazon $1.8B to $2B  —  NEW YORK — The NBA is formalizing written contracts with Disney, NBC and Amazon this week, with sources calling it the final stage …
Max Tani / @maxwelltani:
[Thread] In a meeting, Washington Post CEO Will Lewis told staff that the paper lost $77M over the past year, and saw a 50% drop off in audience since 2020  —  Washington Post CEO Will Lewis is introing the paper's new “Build It” plan today. In a meeting with staff, he noted that the paper lost $77 million over the past year, and saw a 50% drop off in audience since 2020: “To be direct, we are in a hole, and we have been for some time.”
Sara Guaglione / Digiday:
How sending fewer emails and giving paid subscribers early access to content improved The New Yorker's onsite page views and time spent from newsletter users  —  The New Yorker has refocused its newsletter strategy in an effort to retain its cohort of 1.2 million paid subscribers and grow …
Max Tani / Semafor:
Email: WaPo newsletter editor Elana Zak asked writers not to link to a story on Prince Harry's allegations that new CEO Will Lewis helped with hacking coverups  —  The Scoop  —  A top Washington Post editor instructed editors Tuesday night not to promote a story about a controversy involving the paper's new CEO Will Lewis.
Bloomberg:
Sources: Tata Group took full control of subscription TV broadcaster Tata Play after buying Disney's 29.8% stake, valuing Tata Play at about $1B  —  - Tata Group gains full control of Tata Play after Disney deal  — Tata bought out Temasek's stake in platform earlier this year
Chris Kerr / Game Developer:
Rolling Stone launches RS Gaming, a game vertical in partnership with ESL FACEIT Group, which is owned by Saudi state-backed investment fund PIF  —  Rolling Stone is expanding its coverage of the video game industry with the launch of a dedicated gaming vertical.
Discussion: Aftermath and Rolling Stone
Aisha Malik / TechCrunch:
TikTok launches its Symphony AI suite for brands, using generative AI to let marketers write scripts, produce videos, and enhance current assets  —  TikTok is the latest tech company to incorporate generative AI into its ads business, as the company announced on Tuesday that it's launching a new “TikTok Symphony” AI suite for brands.
Alex Ritman / Variety:
UK-based studio Anton raised €100M led by BlackRock-managed funds and accounts to expand its feature film and TV series development and production  —  Anton, the European production, financing and sales group behind “Greenland,” is set to ramp up its output following a significant injection of funds.
Alex Weprin / The Hollywood Reporter:
SEC filing: Vivek Ramaswamy owns shares and call options worth ~$4M in BuzzFeed, or a 7.7% stake, and seeks a shift in its strategy; BZFD jumps 10%+  —  Ramaswamy has acquired just under 8% of BuzzFeed, with plans to push for “a shift in the company's strategy.”
 
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 More News: 
Charlie Warzel / The Atlantic:
OpenAI's Scarlett Johansson debacle is merely a reminder of AI's manifest destiny philosophy: “This is happening, whether you like it or not”, consent be damned
Huizhong Wu / Associated Press:
In a video statement, Chinese journalist Zhang Zhan says she was released from prison after serving four years for charges related to covering COVID-19 in Wuhan
Nilay Patel / The Verge:
Q&A with Google's Sundar Pichai about new AI features, the future of search and its impact on publishers, providing value for YouTube content creators, and more
 Earlier Picks: 
Murray Stassen / Music Business Worldwide:
Amid a dispute between music publishers and Spotify, the NMPA asks Congress to change copyright law to give rights holders more options to negotiate royalties
Michael Nuñez / VentureBeat:
Generative AI music startup Suno raised $125M from Lightspeed Venture Partners, Nat Friedman, Daniel Gross, Matrix, Founder Collective, and others
Louise Matsakis / Wired:
Google is rolling out a new AI-powered ad format that shows shoppers how items of clothing would look on different skin tones and body types
 

 
From Techmeme:

Riley Griffin / Bloomberg:
Mark Zuckerberg lamented the rise of “culturally neutered” companies that have sought to distance themselves from “masculine energy”

William Shaw / Bloomberg:
A survey finds that global banks could cut as many as 200K jobs in the next three to five years as AI encroaches on tasks currently carried out by human workers

Tyler Wilde / PC Gamer:
Tim Sweeney says Big Tech leaders, who used to pretend to be Democrats, are now pretending to be Republicans to skirt antitrust laws and “crush competitors”

 
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