Top News:
Lucas Manfredi / The Wrap:
Legendary Entertainment buys out Wanda Group's remaining 60% equity stake in the studio; Legendary board will be evenly split between management and Apollo — As part of the move, the “Dune” and “Godzilla” studio's board will be evenly split between management and private equity firm Apollo …
Discussion:
Variety, Bloomberg, Los Angeles Times, Deadline, The Hollywood Reporter, @mtfiii and @xpangler
Max Tani / Semafor:
Yashica Olden, who was Condé Nast's first head of diversity, equity, and inclusion, quietly left in June 2024, after internal tensions over the Israel-Hamas war — The Scoop — Condé Nast's high-profile head of diversity quietly stepped down in June amid bitter internal tensions …
Discussion:
New York Post, @jessesingal, @semaforben and @maxwelltani
Charlotte Tobitt / Press Gazette:
Filing: the UK's PA Media Group reports 2023 revenue up 6% YoY to £112.1M and operating profit up 53% YoY to £8.3M, as it grows through revenue diversification — PA Media Group has grown its revenues every year since 2016 helped by a series of acquisitions.
Matthew Garrahan / Financial Times:
An interview with IAC chair Barry Diller on his Paramount bid being “more of a duty than a desire”, why Hollywood's hold on entertainment is “gone”, and more — IAC chair hits out at Trump and warns of power shift to Big Tech in film and TV
Discussion:
Business Insider, @jonthn_wheatley, @arogdc and @tonytassell
Joseph Bernstein / New York Times:
A look at Pod Save America, which gets 20M monthly downloads, and its parent company Crooked Media, as both have grown into institutions in liberal politics — The hosts of the political podcast have outlasted the wave of anti-Trump #Resistance that made it popular. That's where things get complicated.
Discussion:
@bernstein and Fox News
Brian Steinberg / Variety:
Sources: Disney plans to simulcast six broadcasts of Monday Night Football, typically a mainstay of ESPN, on the ABC broadcast network — Disney is taking a strategy that lent it a boost during the recent Hollywood labor strikes and working to apply it to its normal course of business.
Ben Smith / Semafor:
Q&A with ATTN co-founder and co-CEO Matthew Segal on the current social ecosystem, vertical video optimization, trying to be the “HBO of short-form”, and more — The News — Born in 2014, the media company ATTN is the product of the Facebook video age …
Ben Quinn / The Guardian:
The BBC launches an independent review of its workplace culture after scandals around presenters like Huw Edwards; DG Tim Davie says no one is “indispensable” — Tim Davie says corporation is committed to change after series of scandals including that surrounding Huw Edwards
Discussion:
Deadline and The Guardian
Charlotte Tobitt / Press Gazette:
The Evening Standard reports revenue down 15% YoY to £26.8m in the FY ending October 1, 2023 and a loss of £20.6M, its highest loss since going free in 2009 — The Evening Standard has reported its highest losses since going free in 2009, for the year before it decided to drop its daily print edition.
Discussion:
The Guardian and @baekdal
Alex Barasch / New Yorker:
A profile of Bang Si-hyuk, a South Korean music producer and chairman of Hybe Corporation who is taking his formula for creating K-pop idols like BTS to the US — Chairman Bang, the man behind BTS, is bringing his formula for creating K-pop idols to America. — Scooter Braun was in a tailspin.
Discussion:
@cfnchng, @christataetae, @thelionmutters, @intrnl_mnologue, @sugatheartist and @themarkrussell
Josef Adalian / Vulture:
The gap between TV show seasons is growing, with an 18-month break the new normal, thanks to the streaming production model and TV shows becoming spectacles — Eighteen-month gaps between seasons are the new normal. Here's why. — By Josef Adalian, Remember Stranger Things?
Discussion:
Forbes, @sidhubaba, TVNewsCheck, Screen Rant, Just Jared and Gizmodo
Financial Times:
A Venezuelan rights group says the country has cancelled 40+ passports, mostly of journalists and activists, since Nicolás Maduro claimed a re-election victory — Move part of campaign of repression since President Nicolás Maduro claimed re-election win, say rights groups
Discussion:
@kenroth, The Art Newspaper and Reuters
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