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:
New York Times, Skydance Media, Adweek, Variety, The Desk, The Hollywood Reporter, StreamTV Insider, Bloomberg, SlashFilm, The Drum, Business Insider, @jbflint, Los Angeles Times, Deadline, @xpangler, The Streamable, Wall Street Journal, Variety, The Wrap, Los Angeles Times, The Hollywood Reporter, @jbflint, Associated Press, @richlightshed, Financial Times, @lkimmasters@threads.net, @lucas_shaw, @lucas_shaw, Ad Age, B&T, The Media Leader, @loudmouthjulia, @mattnicholas, MediaPost, @andykleinman, The Verge, The Information, @benmullin, @lucas_shaw, @lucas_shaw, @mattbelloni, The Guardian, CBS News, Axios, Mumbrella, @btmcclure, Fast Company, The A.V. Club, Sara Fischer on LinkedIn, Newser, CNBC, @benmullin, CNN, @xpangler, @harrisharrisev9, New York Times, Cord Cutters News, The Information, Reuters, The Hollywood Reporter, The Wrap, The Daily Beast, Media Play News, 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 Wrap, Sportico, Deadline, The Hollywood Reporter, @jbflint, @jbflint, @alexweprin, Sanjay Raina on LinkedIn 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, Radio & Television …, The Wrap, @colbyhall, @jbflint, @jbflint, Broadband TV News, @alexweprin, @jbflint, Next TV and The Hollywood Reporter
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, Business Insider, @jimmy_stick and @tvgrimreaper
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
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
Discussion:
Business Insider, New York Post, Deadline, Los Angeles Times, Slate, Next TV, The Wrap, IndieWire, Variety, Media Play News and WORLD SCREEN
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
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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 …
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:
Mediaite, CNN, @jeffjarvis and @jeremymbarr
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 …
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
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
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, HuffPost, @micchiato@mastodon.social, Deadline, Newser, @justinbaragona, Variety, Fox News, Mediaite, ABC News, @charlesarthur, @jonkarl, @jabeale, @victorblackwell, @alexthomp, @aghamilton29, New York Post, TMZ.com, @ethank@threads.net, @ethank@threads.net, CNN, CBS News, Axios and The Wrap
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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:
Politico, New York Times, Washington Post, NPR, @brianstelter, @brianstelter, @alexthomp, Axios, Inside Radio, Fox News, The Wrap, Ashanti Maya Martin on LinkedIn, CNN, New York Post, Mediaite and PennLive
Todd Spangler / Variety:
Nielsen hires former HuffPost CEO Jared Grusd as the CEO of its content-solutions division Gracenote; he will report to Nielsen CEO Karthik Rao — Grusd's first official day at Gracenote is Monday, July 8. He reports to Nielsen CEO Karthik Rao. With Grusd taking on the role of CEO …
Discussion:
The Desk
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:
@obiexyz, @slasher, @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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