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:
CNBC, Skydance Media, Fast Company, Billboard, Bloomberg, The Hollywood Reporter, New York Times, Ad Age, The Guardian, MediaPost, The Information, Deadline, The Verge, The Media Leader, @jbflint, @benmullin, Associated Press, Wall Street Journal, 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, Media Play News, The Information, Axios, Mumbrella, @btmcclure, Sara Fischer on LinkedIn, Variety, CNN, @xpangler, @harrisharrisev9, The Wrap, New York Times, Business Insider, 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, @alexweprin and IndieWire
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:
Next TV, The Hollywood Reporter, 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 Media Play News
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, ABC News, Fox News, Variety, Deadline, @justinbaragona, 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
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.
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
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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