Mediagazer: IAC reports Q3 revenue at Dotdash Meredith up 5% YoY to $439.5M and a $22.1M operating profit; The Daily Beast is profitable, a first, and revenue rose 81% YoY (Todd Spangler/Variety)

12:10 PM ET, November 12, 2024

Top News:

Sources: Disney board members are exploring fresh candidates in their search for a successor to Bob Iger, including EA CEO Andrew Wilson — Disney board members are considering outsiders including the CEO of videogame company Electronic Arts — Disney is exploring fresh candidates …

Discussion: Cord Cutters News, @mediaevan, @alexweprin and @dylanbyers

Benjamin Mullin / New York Times:

Nicholas Carlson unveils Dynamo, a video-focused company that aims to make “cinematic” stories, and raised $3.4M from Henry Blodget, Jessica Lessin, and others — Nicholas Carlson is preparing to debut a media start-up of his own called Dynamo.Clark Hodgin for The New York Times

Discussion: @chaykak, @bristei, @scottnover, @hblodget, @benmullin and @nichcarlson

Lily Ford / The Hollywood Reporter:

Gary Lineker plans to step down from soccer show Match of the Day after 26 years, but extends his BBC Sport contract; he is the BBC's highest-paid presenter — The ex-England soccer captain has become the face of BBC Sport and the public broadcaster's highest-paid presenter since …

Wall Street Journal:

Meta plans to ask Facebook and Instagram users in Europe if they want to get “less personalized ads” and cuts subscription prices by 40%, a concession to the EU — The Facebook and Instagram owner faces pressure in Europe to ask before using data to target ads or train artificial intelligence.

Discussion: TechCrunch, Hindustan Times, noyb, Reuters, The Verge, @lexzard, @mikeryanretail, Bloomberg, @eric_seufert, @metanewsemea, WinBuzzer, Associated Press, RTÉ, Axios, Meta and Irish Independent, more at Techmeme »

Le Monde:

Le Monde, Le Figaro, Les Echos, and other French news outlets sue X, accusing it of running their content without paying, violating so-called neighboring rights — Several leading French news organizations said Tuesday, November 12, that they are suing social media platform X, accusing it of running their content without payment.

Discussion: TechCrunch, The Guardian, Reuters, Telegraph, Daily Sabah and Al Jazeera

Hugh Dougherty / The Daily Beast:

Chris Wallace quits CNN after three years, opting not to renegotiate his contract, and says he will instead go independent — The veteran broadcaster, 77, will walk away from his seven-figure role in a watershed moment for cable TV. — EXCLUSIVE — Chris Wallace is quitting CNN …

Discussion: USA Today, CNN, ZeroHedge News, @brianstelter, @charliekirk11, @collinrugg, New York Times, Newser, Barrett Media, RedState, Poynter, @ameshiacross, @brianstelter, Status, HuffPost, IJR, al.com, Raw Story, Mediaite, Page Six, Axios, New York Post, The Hill, TVLine, The Wrap, Deadline, Variety, Fox News, Twitchy, TVNewsCheck, The Gateway Pundit, Just Jared and The Hollywood Reporter

Reuters:

Tencent Music reports Q3 revenue up 6.8% YoY to ~$970M, below est., social entertainment revenue down 23.9%, and paying users up 15.5%; TME drops 5%+ pre-market — Tencent Music Entertainment (1698.HK) missed estimates for quarterly revenue on Tuesday, as Beijing's crackdown …

Discussion: Billboard, Benzinga, Investing.com, Tencent Music, Variety and Music Business Worldwide

Brian Steinberg / Variety:

Netflix says its ad tier has 70M MAUs globally, up from 40M in May 2024, and it sold all out available in-game inventory for its Christmas Day NFL broadcasts — Netflix, a company that once dismissed the concept of allowing commercials around its popular streaming content, now can't seem to get enough of them.

Discussion: Deadline, Bloomberg, About Netflix, The Wrap, Reuters, Fortune, Engadget, Front Office Sports, The Information, The Hollywood Reporter, CNBC, Los Angeles Times and Yahoo Finance, more at Techmeme »

Sara Fischer / Axios:

Source: Substack raised ~$10M in new funding; investors include Nate Silver and Omeed Malik, whose firm 1789 Capital backed Tucker Carlson's new media venture — - Substack's original value proposition of empowering writers to connect directly with their audiences has attracted a diverse set of writers …

Lucia Moses / Business Insider:

The New York Times says the Tech Guild is ending its strike after a weeklong work stoppage; during the strike, dozens of tech workers crossed the picket line — New York Times tech workers are ending their strike after a weeklong stoppage, Business Insider first reported.

Discussion: New York Times, Washington Post, TVNewsCheck, @brianstelter, @semaforben, @nyguild, @corbinbolies, @maxwelltani, @lessin, @nytguildtech, @lmoses, The Verge, The Wrap, Fox News, MediaPost and @mjanssen.bsky.social, more at Techmeme »

Bloomberg:

Letter: a group of Dish creditors rejects a bond-exchange offer that is key to the company's proposed acquisition by DirecTV, ahead of a November 12 deadline — The steering committee of Dish lenders made its case to a wider group of bondholders, calling the deal one of the largest …

Discussion: The Streamable, Wall Street Journal, TVNewsCheck, Cord Cutters News, The Desk, CBS News and Benzinga

Tom Tapp / Deadline:

The Tennis Channel indefinitely suspends analyst Jon Wertheim for “inappropriate” comments he made on air about Wimbledon champ Barbora Krejčíková's appearance — Longtime tennis analyst, Tennis Channel commentator and 60 Minutes contributor Jon Wertheim …

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More News:

Todd Spangler / Variety:
IAC reports Q3 revenue at Dotdash Meredith up 5% YoY to $439.5M and a $22.1M operating profit; The Daily Beast is profitable, a first, and revenue rose 81% YoY

Mark Sweney / The Guardian:
Fortress Investment Group acquires Curzon, a UK arthouse film company with 16 cinemas across the UK, a distribution arm, and a streaming service

Discussion: The Mirror, City A.M., Fortress Investment Group, Screen, Telegraph, London Evening Standard, The Independent, Variety, Deadline and The Hollywood Reporter

Dominic Ponsford / Press Gazette:
An interview with The Sun's former royal editor Duncan Larcombe on Fleet Street “dark arts”, Sun's toxic newsroom, Prince Harry's “deluded” lawsuit, and more

Bron Maher / Press Gazette:
An interview with Newsweek SVP of Audience Development Josh Awtry on how Google referrals helped Newsweek become the world's fastest-growing English news site

Discussion: @matthewkeyslive, Josh Awtry on LinkedIn and Paul Rhodes on LinkedIn

Oliver Darcy / Status:
Q&A with The New Yorker editor David Remnick about low morale in media after Trump's victory, MAGA Media's role in poisoning the public discourse, and more

Discussion: CNN, The Hill and Mediaite

Todd Spangler / Variety:
Endeavor agrees to sell OpenBet and IMG Arena, its sports gambling and tech businesses, in a $450M management buyout backed by Endeavor chief Ari Emanuel

Discussion: WORLD SCREEN, @lucas_shaw, Front Office Sports, TVNewsCheck, Los Angeles Times, The Wrap, Reuters, Sportico, Deadline, Bloomberg and The Hollywood Reporter

Maria Heeter / Financial Times:
IAC says it is weighing spinning off its 85% stake in Angi and is open to selling other assets as the media group slims down

Discussion: The Information, Reuters, Benzinga, MediaPost, Barron's Online and CNBC

Earlier Picks:

Alexandra Bruell / Wall Street Journal:
Sources: VP and GM of Google News Shailesh Prakash, who moved from The Washington Post to Google two years ago, has resigned

Discussion: TVNewsCheck, Hindustan Times, The Information, MediaPost and New York Post

The Information:
Sources: more than a year before the US election, TikTok executives revamped moderation rules and trust and safety staff to make it more appealing to Trump fans

Discussion: @erinkwoo, @thedragonfeeder, @srimuppidi, @semaforben, @amir, @mrbrooksher.bsky.social and @nojustdan.bsky.social, more at Techmeme »

Brian Stelter / CNN:
Fox News contributor Tom Homan leaves the network to become Trump's “border czar”, showing how Trump is poised to re-make the “Fox News White House”

Max Tani / Semafor:
US legacy news outlets' coverage of Trump is likely to change as they end internal debates about “normalizing” Trump and acknowledge a political realignment

Discussion: HotAir, @pkafka, @stphnfwlr, @pressgazette, @tednesi, @shelbytalcott, @jayshams, @aidnmclaughlin, @maxwelltani, @chrisschaef, @taylorlorenz, @maxwelltani, Business Insider and Instapundit

Brian Steinberg / Variety:
An interview with Arnon Mishkin, who has directed Fox News' decision desk for years, about its Fox News Voter Analysis, improvements for the 2026 midterms, more

Discussion: @bristei

Charlotte Tobitt / Press Gazette:
Free London business newspaper City AM plans to drop its Monday print edition, going down to three days per week and putting a small number of roles at risk

Discussion: @athenae.bsky.social and Talking Biz News

From Techmeme:

Bloomberg:
Polymarket says the FBI seized CEO Shayne Coplan's phone and electronics; source: the DOJ is investigating Polymarket for allegedly accepting bets from US users

Ramish Zafar / Wccftech:
AMD says it will lay off ~4% of its global staff to align “resources with our largest growth opportunities”; SEC filing: AMD had 26,000 employees at 2023's end

Bloomberg:
Sources: OpenAI plans to launch a new AI agent codenamed Operator, which can use a computer to take actions on a person's behalf, in January

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