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5:40 PM ET, August 22, 2024

Mediagazer

 Top News: 
Wall Street Journal:
In a letter, Skydance lawyers accuse Paramount's special committee of breaching its terms with Skydance by extending the time it can talk with other bidders  —  In a letter from its lawyers, Skydance accuses Paramount's committee of directors of violating the terms of its deal
Discussion: Variety and The Verge
RELATED:
New York Times:
Sources: Paramount extends its deadline for sales talks until early September to evaluate Edgar Bronfman Jr.'s new bid, which could shake up the Skydance deal  —  Edgar Bronfman Jr. and his bidding group now have until September to sell Paramount on their offer.
Wall Street Journal:
Sources: Edgar Bronfman Jr. raises his Paramount bid to $6B, adding $1.7B to let non-Redstone, nonvoting Paramount shareholders cash out at $16 a share
Liam Reilly / CNN:
Unions and some state senators criticize Google's plan for a California local news fund, which stalled bills that would have forced Big Tech to fund journalists  —  New York CNN —  —  Google struck a first-in-the-nation deal with California lawmakers on Wednesday to fund newsrooms …
RELATED:
Politico:
Google and California strike a deal to jointly contribute $125M+ over five years to support local news; the deal also includes support for an AI project
Hayden Field / CNBC:
In a pitch deck, AI search engine Perplexity told advertisers it plans to start running ads in Q4; a source says Perplexity's CPM prices will be $50+  —  Perplexity AI, the artificial intelligence startup that's been embroiled in controversy due to accusations of plagiarizing content from media outlets …
Pete Brown / Columbia Journalism Review:
Star Spangled Media, behind websites posing as news outlets, such as The Morning Mirror, appears to have close ties to pro-Democratic super PAC Forward Majority  —  A quasi-local news site whose operators sought a news media exception to dodge campaign finance regulators has emerged as a vehicle …
Maria Iu / The Media Leader:
WARC: global ad spending will grow by 10.5% to $1.07T in 2024; Alphabet, Amazon, and Meta will account for 43.6% of global ad spending in 2024 and 46% by 2026  —  Global adspend will grow by 10.5% to $1.07tn this year, crossing the $1tn mark for the first time, according to Warc's Global Ad Spend Outlook 2024/25.
Bilge Ebiri / Vulture:
Lionsgate recalls its trailer for Francis Ford Coppola's Megalopolis that used fake quotes from multiple critics, and apologizes “for this inexcusable error”  —  Since this story published, Lionsgate has taken the trailer down and issued an apology: “Lionsgate is immediately recalling our trailer for Megalopolis.
Patrick Frater / Variety:
Chinese streamer iQiyi reports Q2 revenue down 5% YoY to ~$1.04B and net profit down 80% YoY to ~$9.6M, as subscription revenue shrinks for a second quarter  —  China-based video streaming company iQiyi recorded a 5% decrease in revenue in the second quarter and an 80% plunge in net profits.
Reuters:
Russia's FSB opens criminal cases against British CNN reporter Nick Paton Walsh and two Ukrainian journalists for illegally entering Russia to report from Kursk  —  Russia's FSB security service said on Thursday it had opened a criminal case against a journalist working for CNN …
Lauren Irwin / The Hill:
Judy Woodruff apologizes for saying she had read reports that Trump urged Israel's PM not to cut a deal to end fighting in Gaza because it would help Harris  —  PBS NewsHour senior correspondent Judy Woodruff issued an apology Wednesday after her comments about former President Trump's role in Gaza cease-fire talks sparked criticism.
 
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 More News: 
Clemmie Moodie / The Sun:
The BBC says soccer presenter Jermaine Jenas is “no longer part of the presenting line-up”; source: the BBC terminated his contract after behavior complaints
Winston Cho / The Hollywood Reporter:
TV and film productions are turning away from California to countries and US states with looser restrictions and limitations on their tax incentive programs
Discussion: TVNewsCheck
Amanda Meade / The Guardian:
David Anderson, head of the Australian Broadcasting Corporation, plans to step down in 2025 after ABC finds a managing director, after a 35-year career at ABC
Discussion: Mumbrella and Deadline
New York Times:
The FBI has raided the homes of two US commentators for Russian state media in an effort to blunt foreign influence on elections; more searches are expected
 Earlier Picks: 
Naman Ramachandran / Variety:
Ormax Media estimates that India currently has 547M streaming users, or 38% of the population, up 14% YoY and driven by ad-supported streaming
Salman Masood / New York Times:
Pakistan police charge a man who worked for news aggregator Channel3Now with cyberterrorism, accusing him of spreading misinfo about the Southport, UK, attacker
Naomi LaChance / Rolling Stone:
Fact checkers' reviews of Democrats' statements about Trump have routinely botched the facts, earning one correction so far and an X Community Note
Todd Spangler / Variety:
Disney's board names James Gorman, executive chairman of Morgan Stanley, as chair of a succession planning committee to identify Bob Iger's replacement as CEO
Peter White / Deadline:
Sources: Chick-Fil-A plans to launch a slate of original media productions for its own streaming platform and has worked with studios on family-friendly shows