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7:15 PM ET, May 17, 2021


 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) …
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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.
Lillian Rizzo / Wall Street Journal:
WarnerMedia-Discovery merger puts pressure on rivals without enough scale, like NBCUniversal, which sources say viewed WarnerMedia as a possible target  —  Deal to combine media businesses comes as competitors race to bulk up streaming content to lure viewers fleeing pay TV
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 …
The Information:
Source: Amazon is in talks to acquire MGM, in what would be its biggest move to expand into entertainment  —  Amazon is in discussions to acquire MGM, said a person familiar with the situation, in what would be the ecommerce giant's biggest move yet to expand in entertainment.
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 …
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
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
Alexandra Bruell / Wall Street Journal:
NBCUniversal is acting as a power broker between stars and advertisers as part of its upfronts, hoping its pull with talent will help it strike bigger deals  —  Comcast unit is pitching broad partnerships with stars during this year's TV-ad-buying ritual, hoping its pull with talent helps it strike bigger deals
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
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