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:
Paramount, Paramount, New York Times, Los Angeles Times, The Hollywood Reporter, Bloomberg, Business Insider, @jbflint, @richlightshed, Variety, @lucas_shaw, Associated Press, The Hollywood Reporter, The Verge, The Information, SlashFilm, The Streamable, @jbflint, @mattbelloni, The Wrap, The Desk, Adweek, Business Insider, Fast Company, The A.V. Club, StreamTV Insider, Newser, CNBC, @benmullin, @aepstein_, @xpangler, The Drum, @pkafka, @harrisharrisev9, @mattnicholas, @andykleinman, @btmcclure, @xpangler, @benmullin, The Guardian, @loudmouthjulia, The Media Leader, Deadline, @lucas_shaw, New York Times, CNN, Financial Times, Wall Street Journal, B&T, Variety, MediaPost, Mumbrella, @lkimmasters@threads.net, @lucas_shaw, @lucas_shaw, CBS News, Sara Fischer on LinkedIn, Axios, Los Angeles Times, Cord Cutters News, The Information, Media Play News, Reuters, The Hollywood Reporter, The Wrap, The Daily Beast, r/boxoffice, r/wallstreetbets, r/MediaMergers and r/startrek
RELATED:
Axios:
Source: Oracle founder Larry Ellison will invest ~$6B into the Paramount-Skydance deal, with RedBird Capital Partners contributing the remaining $2B — - The Ellisons and RedBird have transactional covenants that require they be consulted on any major business decisions by Paramount in the interim, RedBird's Jeff Shell tells Axios.
Discussion:
New York Post, @tvgrimreaper, @danprimack, The Wrap and Deadline
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:
Deadline, The Wrap, @jbflint, Sportico, @jbflint, @alexweprin, Sanjay Raina on LinkedIn, The Hollywood Reporter, IndieWire and CBS 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:
Deadline, @colbyhall, Radio & Television …, The Wrap, @jbflint, @jbflint, Broadband TV News, @alexweprin, @jbflint, Next TV, The Hollywood Reporter and The Ringer
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, @jimmy_stick, @tvgrimreaper and Business Insider
Nikita Mazurov / The Intercept:
Leaked code: NYT tested using OpenAI tech to generate article headlines and help apply its styleguide; NYT says the “experiment was not taken beyond testing” — In the courtroom, the New York Times has taken a hard line against OpenAI. The newspaper sued the artificial …
Discussion:
Media Voices and @mvario1
RELATED:
Sherin Shibu / Entrepreneur:
OpenAI last week requested NYT documents, including reporters' notes and interview memos, to show that its articles are original; NYT calls it harassment — Key Takeaways … Now OpenAI is asking for proof that NYT articles are actually original — and the NYT is calling the request “irrelevant, improper, and harassing.”
Discussion:
@loudmouthjulia, Ianka Fleerackers on LinkedIn, @rahll and @bobbyallyn
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, Mediaite, CNN, @jeremymbarr and New Republic
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 …
Financial Times:
How Saudi media group MBC's Shahid has become the biggest streaming service in MENA with a 22% share, ahead of Starz Play Arabia at 18% and Netflix at 17% — Wide range of Arabic-language shows and films helps media group compete with Netflix — Media group MBC is competing hard with Netflix …
Brian Steinberg / Variety:
ABC News names Rick Klein, who has been political director since 2013, as VP and Washington, DC bureau chief, succeeding Jonathan Greenberger who left in April — “As a seasoned and highly respected journalist, Rick is uniquely qualified to lead our Washington bureau at such a pivotal moment …
Erik Wemple / Washington Post:
Q&A with NYT Executive Editor Joe Kahn about the NYT's Biden age coverage, the WSJ's investigative approach to the story, using anonymous GOP sources, and more — The New York Times executive editor takes on detractors. — In April 2023, President Biden felt comfortable enough …
Output Producer, CA — 
China Markets Correspondent, Shanghai — 
Senior Assignment Editor, DC — 
Breaking News Editor, Tokyo — 
Senior Correspondent - Wealth, NY — 
Reporter - Ottawa Bureau — 
Local Government Reporter, IA — 
Research Director, CA — 
Immigration Enforcement Reporter — 
Presque Island Reporter, ME — 
Contributing Parks Ed. - SW, CA — 
AI Content Editor, WA — 
Legislative Reporter, TN — 
Editorial Assistant, Remote US — 
Elon Musk Reporter, NY or CA — 
Government & Politics Editor, WA — 
Business & GA Reporter. VT — 
Sports Reporter, WA — 
Energy Reporter, TX — 
Senior Reporter, SC — 
Trade & Climate Correspondent, DC — 
Reporter, WI — 
Political Newsletter Writer, CO — 
Jackson Reporter, MS — 
Music Editor, AZ — 
Breaking News Reporter, NV — 
Fearless Reporter/Producer, IA — 
Reporter II - Technology, Remote — 
Editor, Remote US — 
City Reporter, WA — 
Executive Editor, OR — 
Education & Budget Reporter, CA — 
Senior Writer/Editor, FL — 
Media Editor, Remote — 
