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4:25 PM ET, January 24, 2025

Mediagazer

 Top News: 
Kerry Flynn / Axios:
Sources: Blackstone-backed IDG nears a deal to sell Foundry, which runs outlets like PCWorld and Macworld, to private equity firm Regent  —  The sources wished to remain anonymous because the deal is not yet public.  — Terms of the agreement could not be determined.
Katie Deighton / Wall Street Journal:
ShopMy, which lets brands run influencer marketing efforts, raised a $77.5M Series B led by Bessemer and Bain, sources say at a $410M valuation vs. $80M in 2024  —  Tech firms that speed up and automate brands' partnerships with social-media influencers are becoming hot commodities as advertisers scramble to reach consumers online
Lauren Forristal / TechCrunch:
Flip, which lets shoppers share video reviews and earn cash based on engagement, launches a creator fund that grants up to $100M of equity over 5+ years  —  Flip is a social commerce app that lets shoppers become creators.  They can share honest reviews and earn cash based on engagement on the platform.
Adweek:
Newsweek generated $90M in revenue at a profit margin of 20% in 2024, up from $20M revenue in 2018; digital advertising made up 63% of revenue in 2024  —  The publisher has shaken off its legal woes and super-sized its reach  —  The general interest publisher Newsweek …
Matthew Keys / The Desk:
Source: Allen Media Group reverses some of its plans to lay off 100+ local TV meteorologists and outsource regional weather forecasts to its Atlanta facilities  —  Allen Media Group has reversed some of its plans to lay off more than 100 local television meteorologists and outsource regional weather forecasts …
Ivan Mehta / TechCrunch:
Meta begins a “limited, early test” of ads in Threads in the US and Japan, with the goal of making the ads “as interesting as organic content”  —  Meta's X rival Threads said Friday that it is now testing ads with select brands in the U.S. and Japan.
Daniel Thomas / Financial Times:
Len Blavatnik invests $827M in DAZN, bringing his total to $6.7B, as DAZN eyes Middle East funding to become the “Spotify of sport”  —  Commitment takes billionaire's investments in DAZN to more than $6.7bn since the streaming service was founded in 2016
Melanie Goodfellow / Deadline:
Apple TV+ signs a four-year agreement with French audiovisual groups, investing 20% of its net annual France turnover in European and French content  —  The accord, which does not cover cinema, will see the platform adhere to obligations set out in France's 2021 SMAD decree governing investment quotas …
Sarah Perez / TechCrunch:
Similarweb: RedNote's DAUs in the US fell by 54% on January 20 when the TikTok ban was put on hold, after reaching a high of 32.5M DAUs on the day of the ban  —  In the days leading up to the TikTok ban in the U.S. on Sunday, U.S. users flooded the Chinese app RedNote, which offered …
Charlotte Klein / New York Magazine:
David Remnick, editor of The New Yorker for over a quarter of a century, remains at work amid speculation over his potential successor as the magazine turns 100  —  Staffers of The New Yorker who go into the office, as Condé Nast now requires them to do, have noticed something different …
Jake Kanter / Deadline:
In a statement to UK's Culture, Media, and Sport Committee, BBC says a funding crisis, caused by license fee cuts and more, is affecting multiple TV productions  —  The BBC has issued the starkest warning yet about the UK scripted funding crisis, telling lawmakers that multiple greenlit series are “stuck in limbo.”
 
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 More News: 
Hannah Miller / Bloomberg:
Filing: Disney CEO Bob Iger's total pay rose by 30% YoY in FY 2024 to $41.1M, primarily as bigger stock and option awards and a bonus
Robert Channick / Chicago Tribune:
Chicago Public Media offers buyouts to Chicago Sun-Times journalists and WBEZ business staff; CEO Melissa Bell is aiming to shave $3M-$5M from the annual budget
 Earlier Picks: 
Lauren Forristal / TechCrunch:
Substack launches Creator Accelerator Fund to lure US creators who already have $2K+ per month in recurring revenue away from other subscription-based platforms
Sara Fischer / Axios:
Mark Thompson says CNN aims to reach $1B in digital revenue by 2030; memo details $70M to be invested in digital plans, a modernized ad sales approach, and more
Munir Ahmed / Associated Press:
Pakistan's parliament passes a controversial bill giving the government sweeping controls on social media, including prison terms for spreading “disinformation”
 

 
From Techmeme:

Kif Leswing / CNBC:
Apple says general counsel Kate Adams and policy chief Lisa Jackson will retire, and Jennifer Newstead, Meta's former chief legal officer, will replace Adams

Kurt Wagner / Bloomberg:
Sources: Meta is considering deep budget cuts to its metaverse efforts in 2026, potentially as high as 30% and most likely including layoffs as early as January

Will Oremus / Washington Post:
Two studies suggest AI chatbots can shift political views more effectively than TV campaign ads, especially by presenting many claims, regardless of accuracy
 
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