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5:05 PM ET, May 17, 2021

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 Top News: 
Brian Stelter / CNN:
AT&T to spin off WarnerMedia and combine it with Discovery in a $43B deal; the new company will be run by Discovery CEO David Zaslav  —  New York (CNN Business)The streaming TV race is about to get even more competitive.  —  On Monday morning AT&T (T) and Discovery, Inc. (DISCA) …
Discussion: Los Angeles Times, Financial Times, New York Times, Wall Street Journal, Hollywood Reporter, Washington Post, Axios, MediaPost, Variety, CNN, The Wrap, Bloomberg, Variety, ScreenRant, @sherman4949, The Hill, @frankpallotta, @claireatki, Discovery, Inc., Variety, Digiday, The Streamable, The Information, Mediaite, Insider, The Wrap, Ad Age, Fast Company, CNBC, IndieWire, @kerrymflynn, Insider, @sherman4949, @annaknicolaou, Forbes, @loudmouthjulia, @lucas_shaw, @lucas_shaw, @lucas_shaw, FierceVideo, Vanity Fair, Variety, @sadogre, Den of Geek, @lucas_shaw, @nycsouthpaw, @gadyepstein, @pkafka, @hblodget, @pkafka, Light Reading, @sherman4949, The Week, @sherman4949, @richlightshed, @sherman4949, @sherman4949, @kerrymflynn, @benyt, @digitalshields, @karaswisher, @karlbode, @loudmouthjulia, @sherman4949, @brianstelter, @pkafka, @mbgelman, @dylanbyers, Protocol, @erikdavis, @ditzkoff, @lucas_shaw, @frankpallotta, @cgasparino, @mattdraperyt, @edmundlee, /Film, @backlon, @sherman4949, @jackmirkinson, @brazilbrian, @thetruebrendanf, @oliverdarcy, @zakiscorner, @cgasparino, @jeremymbarr, @cnbc, @loudmouthjulia, @carnage4life, @keithboykin, @loudmouthjulia, @alexweprin, @panzer, @sivavaid, @gracerandolph, @mims, @jimwaterson, @jbflint, @awallenstein, @sarafischer, @dylanbyers, @rakeshlobster, @richlightshed, @brianstelter, @magsvisaggs, @brianstelter, @w7voa, @thatjakepc, @andrearene, @jasonlynch, @scottporch, ZDNet, @sherman4949, AppleInsider and Adweek, more at Techmeme »
RELATED:
Brooks Barnes / New York Times:
Sources: Jason Kilar is negotiating his departure as CEO of WarnerMedia, after being kept in the dark about the deal with Discovery until recent days  —  Jason Kilar has hired a legal team to negotiate his departure as chief executive of WarnerMedia, according to two people briefed on the matter.
Hollywood Reporter:
John Stankey and David Zaslav discuss their vision for the WarnerMedia deal, saying the company will have a content spend that exceeds most competitors at $20B  —  AT&T chief John Stankey and Zaslav, who will lead the new venture, also addressed the status of WarnerMedia CEO Jason Kilar and the future of CNN.
Jeremy Fuster / The Wrap:
Former Hollywood Reporter editor Matthew Belloni has become a founding member of a new media company that has raised $7M and aims to launch this summer  —  Matthew Belloni, former Editorial Director at The Hollywood Reporter, has joined as a founding partner for a new media company that will cover politics …
Apple:
Apple says it will bring lossless audio to all Apple Music subscribers for free and will support Spatial Audio with Dolby Atmos, available from June  —  The next generation of sound on Apple Music is coming to subscribers June 2021 at no additional cost  —  CUPERTINO, CALIFORNIA Apple today …
RELATED:
Micah Singleton / Billboard:
Amazon Music HD is now available to Amazon Music Unlimited subscribers for free, effectively cutting the Hi-Fi service's price from $14.99 to $9.99 per month
Charlotte Tobitt / Press Gazette:
British GQ editor Dylan Jones departs after 22 years in the role; GQ to be led globally by American GQ editor Will Welch, as Conde Nast merges editorial teams  —  British GQ editor Dylan Jones is leaving the men's lifestyle magazine after 22 years at the helm.
Discussion: MediaPost
Todd Spangler / Variety:
DVD rental and streaming company Redbox is going public via SPAC in a deal that values the combined company at $693M; Redbox had earnings of $114M in 2020  —  Redbox, the DVD-rental kiosk and streaming company, is going back to the public markets.  —  On Monday, Redbox announced that it reached …
Washington Post:
Researchers detail a sprawling disinformation network in the US, including media websites such as GTV, that's pushing falsehoods about COVID-19 and the election  —  Guo Wengui, living in self-exile in New York City, is at the center of a digital web pushing election and covid falsehoods, according to Graphika research
Variety:
Investors and analysts including Warren Buffett weigh in on “stupid” stock swings affecting ViacomCBS, Discovery, and AMC Entertainment, plus problematic SPACs  —  There's no better moment to take the pulse of the investment landscape than during the annual shareholders meeting …
 
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 More News: 
Zack Zwiezen / Kotaku:
After publishing and removing an article listing Palestinian charities, IGN says it didn't mean to make it seem “we were politically aligned with one side”
 Earlier Picks: 
Matt Pearce / Los Angeles Times:
A look at the Ambies, Podcast Academy's annual podcast awards whose nominees across 23 categories were chosen by 100+ members, ahead of its inaugural show
Manish Singh / TechCrunch:
Amazon launches miniTV, an ad-supported free video streaming service that is available within the Amazon shopping app in India
The Intercept:
The Intercept stands by its reporting on Gab and “Riot Squad”, after it was accused of doxxing conservative journalists, says its reporters have been harassed
Associated Press:
Israeli airstrike destroys a high-rise in Gaza City that housed offices of AP and Al-Jazeera, after the military warned people to evacuate the building
Jack Crosbie / Discourse Blog:
In internal meeting, CEO Meredith Levien defended NYT's refusal to voluntarily recognize The NYT Tech Guild, saying its members are tech people, not journalists