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:
SlashFilm, New York Times, Bloomberg, The Streamable, The Hollywood Reporter, The Wrap, Ad Age, CNBC, Fast Company, Billboard, Los Angeles Times, Business Insider, Deadline, Newser, Variety, The A.V. Club, MediaPost, Wall Street Journal, The Hollywood Reporter, @lucas_shaw, Los Angeles Times, The Information, The Verge, Associated Press, @jbflint, The Daily Beast, Cord Cutters News, @richlightshed, Financial Times, Reuters, @lkimmasters@threads.net, @lucas_shaw, B&T, The Media Leader, @loudmouthjulia, @mattnicholas, @andykleinman, @benmullin, The Hollywood Reporter, @lucas_shaw, @lucas_shaw, @mattbelloni, The Guardian, CBS News, The Information, Axios, Mumbrella, @btmcclure, Sara Fischer on LinkedIn, @benmullin, CNN, @xpangler, @harrisharrisev9, The Wrap, New York Times, 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:
Sportico, Sanjay Raina on LinkedIn, The Hollywood Reporter, @jbflint, @jbflint, @alexweprin 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:
Radio & Television …, The Wrap, Skydance Media, Deadline, Next TV, @colbyhall, @jbflint, @jbflint, Broadband TV News, @alexweprin and @jbflint
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:
Business Insider, Deadline 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:
New York Post, Next TV, The Wrap, Variety, Deadline, WORLD SCREEN, IndieWire and Media Play News
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:
@bobbyallyn, @loudmouthjulia and @rahll
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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 …
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:
@stephentotilo, @constababble, @alexkidman@aus.social, @bengrubb, @screelman, Mumbrella, @hack_packer, B&T, The Guardian, @a_choros and @lukehopewell
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
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, Newser, Variety, @micchiato@mastodon.social, Fox News, 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 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, NPR, New York Times, Washington Post, @brianstelter, CNN, @brianstelter, Fox News, New York Post, @alexthomp, Axios, Ashanti Maya Martin on LinkedIn, Inside Radio, The Wrap, Mediaite and PennLive
Jeremy Scahill / Drop Site News:
The Intercept co-founder Jeremy Scahill and DC bureau chief Ryan Grim leave the outlet to launch Drop Site News, an investigative news site on Substack — A year ago, I never would have imagined sending this email, not to mention publishing on Substack. But here I am.
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
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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