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3:50 PM ET, January 20, 2026

Mediagazer

 Top News: 
Todd Spangler / Variety:
Netflix and WBD say Netflix revised its WBD offer to an all-cash deal for $27.75/share, with the same $82.7B value; its original bid had $59B in debt financing  —  Netflix and WBD announced Tuesday that they amended their definitive agreement for Netflix's proposed acquisition of Warner Bros. assets …
Alex Weprin / The Hollywood Reporter:
Filings: WBD projects CNN will generate $1.8B in revenue and $600M in adjusted EBITDA for FY 2026; docs show CNN had revenue of $2.2B in 2021 and $1.8B in 2023  —  Warner Bros. Discovery is revealing financial details in connection with its planned spinout of Discovery Global.
Kerry Flynn / Axios:
Pitchfork launches a $5 per month or $50 per year subscription that lets readers comment on reviews, rate albums, and access its archive of 30,000+ reviews  —  Pitchfork is launching a new subscription that lets readers comment on reviews, rate albums themselves and access its full archive …
Discussion: Pitchfork
Katie Atkinson / Billboard:
Penske Media names Leila Cobo and Jason Lipshutz as co-chief content officers of Billboard, overseeing editorial content and newsroom operations  —  The pair will share oversight of Billboard's editorial content and newsroom operations. … Leila Cobo and Jason Lipshutz have been promoted …
Caitlin Huston / The Hollywood Reporter:
Adobe pledges ~$10M in grants and product donations in 2026 to support filmmakers, including funding creators directly for the first time  —  The software company is launching new partnerships with organizations including Dimoldenberg's Dimz Inc. Academy and Rideback RISE.
Discussion: @davelee.me
Rick Porter / The Hollywood Reporter:
Nielsen: Christmas Day 2025 set a record for US streaming usage with 55.1B minutes, or 54% of all TV viewing for the day, up by 3.9B minutes on Christmas 2024  —  The month of December also marked another all-time high for streaming usage.  —  With three streaming-exclusive NFL games …
Dade Hayes / Deadline:
A jury has found Edo, a TV ad measurement company, liable for breach of contract and says Edo must pay $18.3M in damages to rival iSpot; Edo plans to appeal  —  EDO, an advertising technology firm co-founded by actor and filmmaker Edward Norton, has been found liable for breach of contract by a federal jury.
Lucas Shaw / Bloomberg:
Source: Peter Chernin is in negotiations to sell his independent studio, North Road, to French media company Mediawan in a deal worth $700M to $1B  —  Peter Chernin is in talks to sell his independent production company  —  Hollywood is on the verge of a real estate crash.
Discussion: FlatpanelsHD
Ivan Mehta / TechCrunch:
Netflix adds a real-time voting feature for its Star Search reboot, available on mobile, smart TVs, and streaming devices, but not on a browser  —  Netflix today is launching a new feature that will allow users to interact with live content through voting.  The streaming company said the option …
Ted Johnson / Deadline:
MS NOW hires Mike Nizza as VP of digital to focus on building out the network's subscription-based content  —  MS NOW has hired Mike Nizza as vice president of digital, with a focus on building out the network's subscription-based content.  —  Nizza will report to Madeleine Haeringer …
Zach Vallese / CNBC:
Sensor Tower: Reels accounted for 50%+ of all Instagram ads in 2025, up from 35% in 2024; Reels accounted for 46% of time spent on Instagram in the US in 2025  —  More than half of all ads on Meta's Instagram ran in the service's short-form video Reels product in 2025, up from 35% in 2024 …
 
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 More News: 
Charlotte Tobitt / Press Gazette:
Evening Standard plans to outsource its digital operations to Independent Media effective March 1; the Standard will still publish its weekly print newspaper
Discussion: Financial Times
Jess Weatherbed / The Verge:
Sony and TCL sign a non-binding agreement to spin off Sony's TV and home audio hardware business into a new joint venture, aiming to finalize the deal by March
Meredith Klein / Meredith & The Media:
Q&A with Josh Sternberg, executive editor at Morning Brew, about leading Morning Brew's editorial strategy, the ever-changing media landscape, and more
Discussion: Talking Biz News
 Earlier Picks: 
Saahil Desai / The Atlantic:
As news outlets treat prediction markets like news, especially heading into US elections, every dip and swing in the odds may end up wildly misleading people
Washington Post:
CBS airs 60 Minutes' CECOT segment, which Bari Weiss shelved in December as it lacked an on-camera interview with a Trump official, without such an interview
 

 
From Techmeme:

Juby Babu / Reuters:
OpenAI rolls out age prediction on ChatGPT globally to identify users under 18 and apply automatic content protections as it prepares to introduce adult content

Alex Heath / Sources:
Demis Hassabis says there aren't “any plans” to put ads in Gemini and, in response to OpenAI testing ads, says “maybe they feel they need to make more revenue”

Jody Godoy / Reuters:
The US FTC files a notice to appeal a November 2025 ruling that found Meta did not hold an illegal monopoly by acquiring Instagram and WhatsApp
 
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