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3:00 PM ET, August 20, 2024

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 Top News: 
The Wrap:
Document: Edgar Bronfman Jr.'s Paramount bid is backed by a group of 19 investors including Fortress, Brock Pierce, and producer Steven Paul  —  Kazakh investor Nurali Aliyev joins Fortress and producer Steven Paul in the last minute $4.3 billion bid  —  Cryptocurrency mogul Brock Pierce …
RELATED:
Wall Street Journal:
Sources: former Warner Music CEO Edgar Bronfman Jr. has submitted a $4.3B offer for National Amusements and a minority stake in Paramount Global  —  Bronfman is looking to scuttle a previous agreement to merge Paramount with David Ellison's Skydance Media  —  Media executive Edgar Bronfman Jr …
Daniel Tencer / Music Business Worldwide:
The AGs of 10 states join the US DOJ's antitrust lawsuit seeking to break up Live Nation and Ticketmaster; 39 states, plus DC, are now part of the lawsuit  —  The attorneys general of 10 states have joined the US Department of Justice (DoJ)'s antitrust lawsuit seeking to break off Live Nation …
Omar Oakes / The Media Leader:
Paramount says it will rebrand the UK's Channel 5 as just “5” and no longer merge My5 with Pluto TV, as part of plans to relaunch under one name by April 2025  —  Paramount is rebranding Channel 5 to just 5 as part of plans to relaunch the public-service broadcaster across linear …
Stephania Taladrid / New Yorker:
An interview with Univision's Jorge Ramos on his start at Univision, his evolving philosophy of interviewing, how his audience has changed, and more  —  The legendary newscaster on how the U.S. has changed—and how it has changed him.  —  For decades, his voice was omnipresent in Latino households.
CNN:
Disney says a wrongful death lawsuit can now proceed to court, after initially arguing that the widower's Disney+ trial contract prohibited him from suing  —  Disney has reversed course on a wrongful death lawsuit brought by the widower of a woman who died after eating at a resort restaurant, saying the matter can now proceed to court.
Radhika Anilkumar / Reuters:
The UK CMA accepts Meta's changes to its ad rules to ensure Marketplace advertisers' data is not used to improve Marketplace, without having to opt in or out  —  Britain's competition watchdog said on Tuesday it has accepted Meta's (META.O) proposed changes to the way it uses the data …
Aditya Kalra / Reuters:
Sources: India's antitrust body reaches an initial assessment that the $8.5B merger of Reliance and Disney harms competition due to their cricket rights  —  India's antitrust body has reached an initial assessment that the $8.5 billion India merger of Reliance and Walt Disney media assets …
Discussion: Variety
Max Tani / @maxwelltani:
Memo: Time CEO announces that the company is laying off 22 employees across several departments, including editorial, citing decreased ad budgets and more  —  In a memo to staff, Time magazine CEO Jess Sibley announces that the company is laying off 22 staff. Says the business is still struggling due to decreased ad budgets, drastic shifts in consumer behavior, changes to search and social algorithms, and overall economic uncertainty. [image]
 
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 More News: 
Todd Spangler / Variety:
Alex Cooper reaches a multiyear agreement with SiriusXM, replacing Spotify; source: the deal is for a little more than 3 years and is worth as much as $125M
Dade Hayes / Deadline:
Netflix says it has recorded a 150%+ YoY increase in upfront ad sales commitments, in line with the company's expectations, including deals around live events
Dominic Patten / Deadline:
A New York judge allows Julia Ormond's lawsuit against Disney, CAA, and Miramax over an alleged 1995 sexual assault by Harvey Weinstein to move forward
 Earlier Picks: 
Benjamin Mayo / 9to5Mac:
Apple debuts a web app for Podcasts, letting users log in to listen to podcasts, view the Up Next queue and library, and browse new shows, at podcasts.apple.com
Jess Weatherbed / The Verge:
Procreate CEO James Cuda says the iPad illustration startup is “not going to be introducing any generative AI into our products”, drawing praise from creatives
Mike Barnes / The Hollywood Reporter:
Phil Donahue, a pioneering talk show host whose novel issue-oriented show lasted 29 years, dies at the age of 88
Ted Johnson / Deadline:
ABC News names Almin Karamehmedovic, executive producer of ABC's top rated World News Tonight, as its next president, succeeding Kim Godwin