Top News:
Dawn Chmielewski / Reuters:
Paramount Global and Skydance Media announce a merger of the two companies, ending months of chaotic talks; a memo says the deal is expected to close in H1 2025 — Skydance Media and Paramount Global (PARA.O) agreed to merge, the companies announced late Sunday evening, opening a new chapter for one of Hollywood's oldest studios.
Discussion:
The Wrap, CNBC, Skydance Media, Fast Company, Billboard, Bloomberg, The Hollywood Reporter, New York Times, Ad Age, The Guardian, MediaPost, The Hollywood Reporter, Deadline, The Information, The Verge, Wall Street Journal, @jbflint, @benmullin, The Media Leader, Associated Press, Los Angeles Times, The Daily Beast, Cord Cutters News, @richlightshed, Financial Times, Reuters, @lkimmasters@threads.net, @lucas_shaw, B&T, @loudmouthjulia, @mattnicholas, @andykleinman, @benmullin, The Hollywood Reporter, @lucas_shaw, @lucas_shaw, @mattbelloni, CBS News, The Information, Axios, Mumbrella, @btmcclure, Sara Fischer on LinkedIn, Variety, CNN, @xpangler, @harrisharrisev9, The Wrap, New York Times, Business Insider, Media Play News, New York Post, r/MediaMergers, r/boxoffice, r/startrek and r/wallstreetbets
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Brian Steinberg / Variety:
Jeff Shell, set to become “New Paramount” president, says Skydance executives have identified $2B+ in cost cuts, much of it from its linear media operations — To help Paramount Global to grow, its new owner needs to make cuts. — Skydance executives who are set to take over the owner of CBS …
Discussion:
The Hollywood Reporter, @jbflint, @jbflint and @alexweprin
Alex Weprin / The Hollywood Reporter:
The Paramount-Skydance deal has a “go shop” policy, where Paramount would pay Skydance a $400M breakup fee if Paramount finds another buyer within 45 days — The Skydance Media team and Paramount's three CEOs spoke to the investor community early Monday morning …
Discussion:
The Wrap, Variety, Next TV, Deadline, WORLD SCREEN, IndieWire and Media Play News
Matt Donnelly / Variety:
A look at Skydance's vision for “New Paramount”, of which David Ellison will be the CEO: a $1.5B cash infusion to help woo creatives, a focus on tech, and more — Now that Shari Redstone has signed on the dotted line to sell her father's media empire to Skydance and RedBird Capital, what future awaits?
Discussion:
The Wrap, Deadline, @jbflint, @jbflint, @colbyhall, Broadband TV News, @jbflint and @alexweprin
Reuters:
Memo: Paramount's co-CEOs say Paramount will continue reducing the size of its workforce and look to divest some of its assets until the Skydance deal closes — Paramount Global (PARA.O) will continue reducing the size of its workforce until its merger with Skydance Media closes …
Discussion:
Deadline
Todd Spangler / Variety:
Memo: Shari Redstone says Skydance “have a clear strategic vision for the future”; Paramount co-CEOs say “it's business as usual” until the deal closes in 2025 — Cheeks, McCarthy and Robbins say they will continue carrying out their restructuring plan, including layoffs and asset sales
Discussion:
IF Magazine, Deadline and The Wrap
Calum Jaspan / Sydney Morning Herald:
Memo: Nine's Pedestrian Group restructures as CEO departs, staff faces cuts, and licensing deals to publish Vice, Gizmodo, Kotaku, others in Australia get axed — The chief executive of Nine-owned Pedestrian Group, Matt Rowley, will leave the youth publisher as part of a major restructure …
Discussion:
@constababble, @alexkidman@aus.social, @bengrubb, @screelman, Mumbrella, @hack_packer, B&T, The Guardian, @a_choros and @lukehopewell
Michael D. Shear / New York Times:
Biden aides provided questions for radio interviews on The Source on Philadelphia's WURD, on July 3, and The Earl Ingram Show on Wisconsin's WAUK, on July 4 — The host of “The Source” on WURD in Philadelphia said officials provided her with a list of eight questions to choose from.
Discussion:
WURD Radio, @micchiato@mastodon.social, Fox News, Variety, Deadline, @justinbaragona, ABC News, Mediaite, @charlesarthur, @jonkarl, @jabeale, @victorblackwell, @alexthomp, @aghamilton29, New York Post, TMZ.com, @ethank@threads.net, @ethank@threads.net, CNN, CBS News, Axios, The Wrap and ABC News
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Gillian McGoldrick / The Philadelphia Inquirer:
WURD says Biden's interview, with questions provided by his aides, was conducted without management knowledge and is parting ways with Andrea Lawful-Sanders
Discussion:
Inside Radio, New York Times, PennLive, @brianstelter, CNN, @brianstelter, Fox News, New York Post, @alexthomp, Axios, Ashanti Maya Martin on LinkedIn, The Wrap and Mediaite
Leila Abboud / Financial Times:
A profile of French TV presenter Cyril Hanouna, who has played an important role in boosting billionaire Vincent Bolloré's Fox News-like media empire in France — Cyril Hanouna is a key player in Vincent Bolloré's Fox News-like media empire — One way to understand …
Discussion:
Columbia Journalism Review and Crikey
Bron Maher / Press Gazette:
BBC News promotes Deputy CEO Jonathan Munro to the newly-created role of global director, overseeing BBC Monitoring and the World Service from September 2024 — BBC News director of journalism and deputy CEO Jonathan Munro has been promoted to global director.
Ashley Belanger / Ars Technica:
As Glaze, a free tool to help artists prevent AI from copying their style, sees an “explosion in demand”, researchers say its protections can be bypassed — Artists must wait weeks for Glaze defense against AI scraping amid TOS updates. — For many artists, it's a precarious time to post art online.
Janko Roettgers / The Verge:
A look at Redbox's downward spiral since COVID-19, as pandemic-induced movie shortages and the declining number of DVD rental kiosks led to a big revenue drop — The bankruptcy of Redbox's parent company came after months of chaos, cash crunch, and corporate upheaval.
Discussion:
@peterhallhuman, Ai-Thanh Le on LinkedIn, @jnicholsonindc and Cord Cutters News
Jeremy Barr / Washington Post:
LinkedIn co-founder Reid Hoffman invests in Smartmatic, in part to help the company sustain its costly litigation against Fox News and Newsmax — LinkedIn co-founder Reid Hoffman, a longtime funder of left-leaning causes, has invested in Smartmatic, the election technology company suing …
Discussion:
@jeffjarvis and @jeremymbarr
Ben Church / CNN:
A look at concerns about Saudi Arabia “sportswashing”, as the country hosts the Esports World Cup; Saudi Arabia's PIF owns some of the biggest gaming companies — In the heart of Saudi Arabia's capital, a seismic moment for esports is underway; one which has triggered both excitement and concern across the industry.
Discussion:
@slasher, @obiexyz, @jacobwolf, @myra__davis, @fishstix, @devrelcallum, @rlewisreports, @jacobwolf, @dszajnuk, @jimohagan, @fishstix, @rlewisreports, @invert_lol, @pengu, @bekahboo1290, @middlecottisme, @thechowderhead, @hoffasaurusx, @owcesports, @ewc_en, @ow_svb, @moneyfolder5, @mattomattik, @cointree_ow, @daesanghyeokie, @lsxyz9, @jimohagan, @lsxyz9, @teadvocated, @liquid112, @slasher, @liquidnazgul, ABC News (Australia) on YouTube, BBC, VG247, BBC News on YouTube, The Esports Advocate, The Esports Advocate, CBC News and BBC
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