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7:35 PM ET, December 12, 2024

Mediagazer

 Top News: 
Benjamin Mullin / New York Times:
BuzzFeed reaches a deal to sell Hot Ones owner First We Feast for $82.5M in cash to a consortium of investors led by an affiliate of Soros Fund Management  —  The sale, to a group that includes the show's host, Sean Evans, and Soros Fund Management, will allow BuzzFeed to pay down tens of millions of dollars in debt.
RELATED:
Todd Spangler / Variety:
BuzzFeed says selling First We Feast will cut its outstanding debt by $89M to $30M and let it operate with a cash balance larger than its total outstanding debt
Katie Robertson / New York Times:
Sources: Patrick Soon-Shiong told LA Times opinion leaders not to publish an editorial critical of Trump's cabinet picks without publishing an opposing view  —  Dr. Patrick Soon-Shiong's public comments and actions, including recently blocking an editorial weighing in on President-elect Trump's cabinet picks …
Brian Steinberg / Variety:
Warner Bros. Discovery announces a restructuring to create two separate units: one for linear TV networks and one for production studios and streaming platforms  —  The maneuver was unveiled just days after Comcast said it planned to spin off the bulk of its NBCUniversal cable networks …
RELATED:
Brian Stelter / CNN:
Warner Bros. Discovery's shares jump 13%+ after the company announced a restructuring that is expected to take effect by mid-2025  —  Warner Bros. Discovery, CNN's corporate parent, announced Thursday, it is establishing a new corporate structure that splits its cable networks off from its growing streaming business.
Discussion: Adweek, @lucas_shaw and @mediaevan
Jessica Toonkel / Wall Street Journal:
Current and former Netflix staff say the company has walked back its parental-leave benefits, after shifting its focus from subscriber growth to profitability  —  Employees worry the pullback and other new restrictions mean the entertainment giant is losing the identity that fueled its success
Costas Pitas / Reuters:
Donald Trump picks former news anchor and hardline Republican Kari Lake to be the director of US government-funded media outlet Voice of America  —  U.S. President-elect Donald Trump on Wednesday said he was picking Kari Lake, a former news anchor and a hardline Republican who failed to win …
Daniele Lepido / Bloomberg:
Italian broadcaster MediaForEurope says it is looking to accelerate its plan to build a pan-European free-to-air TV hub after securing a €3.4B credit facility  —  - Broadcaster adds financial muscle to bankroll future plans  — CEO doesn't rule out a bid for rest of Germany's ProSieben
Discussion: Broadband TV News and Reuters
Charlotte Tobitt / Press Gazette:
An interview with Business Insider CTO Harry Hope on BI's use of AI, including AI-powered search and ad tools, shifting away from mass audience, and more  —  Business Insider's chief technology officer has said advancements in AI technology are helping the publisher “to do a bit more to punch above our weight class”.
Discussion: Talking Biz News
U.S. Press Freedom Tracker:
In 2024, police arrested or detained US journalists at least 48 times, more than in 2022 and 2023 combined; nearly half of arrests were by New York City police  —  Stephanie Sugars from Freedom of the Press Foundation  —  Nearly all 48 arrests took place during demonstrations; half at hands of NYPD
Ken Klippenstein:
Slack messages: NYT editors tell reporters to “dial back” on using photos of alleged UnitedHealth gunman Luigi Mangione and to avoid publishing his “manifesto”  —  Times management directs staff to “dial back” Luigi Mangione headshots
Todd Spangler / Variety:
Former NBC News president Noah Oppenheim, Lloyd Braun, and Sarah Bremner launch indie studio Prologue Entertainment, backed by Jeff Zucker and RedBird Capital  —  A trio of entertainment veterans — Lloyd Braun, Sarah Bremner and Noah Oppenheim — have come together to form independent …
Dominic Ponsford / Press Gazette:
Email: the Guardian Media Group declined to engage with an alternative bid enquiry for The Observer due to exclusivity terms with Tortoise  —  Guardian Media Group declined to engage with an alternative bid enquiry for The Observer on Tuesday, telling the interested party it could not speak …
RELATED:
The Guardian:
Guardian and Observer journalists hold a second 48-hour strike against The Observer sale to Tortoise Media; the Scott Trust has agreed to the sale in principle
 
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 More News: 
Matt Yoder / Awful Announcing:
YouTube tells customers that the monthly price for YouTube TV's base plan will jump from $73 to $83 in January 2025, after raising it from $65 to $73 in 2023
Julia Jacobs / New York Times:
The NLRB issues a complaint against Netflix's Love Is Blind and classifies its contestants as employees, a case that could have ripple effects across reality TV
 Earlier Picks: 
Nic Fildes / Financial Times:
Australia plans a levy on tech companies like Meta with $250M+ in local revenue to force them to pay publishers for journalism, after Meta quit the prior deal
Katie Robertson / New York Times:
The NYT Tech Guild and its 600+ members reach a tentative deal with management on a contract enhancing job security, setting flexible hybrid schedules, and more
Clayton Davis / Variety:
In a first, the 97th Academy Awards will stream live on Hulu, along with airing on ABC, giving it an unprecedented boost in accessibility and viewership
 

 
From Techmeme:

Ina Fried / Axios:
In a blog post, OpenAI says “You can't sue your way to AGI”, and publishes emails from Elon Musk showing he wanted to own OpenAI and run it as a for-profit

Kylie Robison / The Verge:
During his NeurIPS talk, Ilya Sutskever says “Pre-training as we know it will end”, as “we've achieved peak data and there'll be no more”

Tanaya Macheel / CNBC:
MicroStrategy, Palantir, and Axon will join the Nasdaq 100 index, effective before the market open on December 23; Super Micro will be removed from the index
 
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