Mediagazer: 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 (Brian Stelter/CNN)

2:55 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) …

Discussion: Los Angeles Times, Financial Times, Wall Street Journal, New York Times, Hollywood Reporter, Washington Post, MediaPost, Variety, CNN, Bloomberg, Hollywood Reporter, Variety, The Wrap, The Information, Insider, Digiday, CNBC, Forbes, Variety, The Wrap, Axios, Fast Company, @sherman4949, Bloomberg, @frankpallotta, @claireatki, Discovery, Inc., The Streamable, Variety, Mediaite, Observer, Awful Announcing, Insider, Vanity Fair, /Film, @lucas_shaw, @annaknicolaou, @gadyepstein, @pkafka, @hblodget, @karlbode, @andrearene, @benyt, @panzer, Light Reading, @mattdraperyt, @thetruebrendanf, @magsvisaggs, @jeremymbarr, @pkafka, @dylanbyers, ZDNet, @sherman4949, The Week, @sherman4949, @richlightshed, @sherman4949, @sherman4949, @kerrymflynn, @digitalshields, @karaswisher, @loudmouthjulia, @sherman4949, @brianstelter, @pkafka, @mbgelman, @dylanbyers, Protocol, @erikdavis, @ditzkoff, @lucas_shaw, @frankpallotta, @cgasparino, @edmundlee, @backlon, @sherman4949, @jackmirkinson, @brazilbrian, @oliverdarcy, @zakiscorner, @cgasparino, @cnbc, @loudmouthjulia, @carnage4life, @keithboykin, @loudmouthjulia, @alexweprin, @sivavaid, @gracerandolph, @mims, @jimwaterson, @jbflint, @awallenstein, @sarafischer, @rakeshlobster, @richlightshed, @brianstelter, @brianstelter, @w7voa, IndieWire, @thatjakepc, @jasonlynch, @scottporch, @sherman4949, AppleInsider and Adweek, more at Techmeme »

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.

Discussion: Vox, @rebeccaarubin, CNN, nexttv.com, @brooksbarnesnyt, Mediaite, @jbenton, @sherman4949, @davidpoland, @sherman4949, @richardlnewby, @mchenryjd, @grynbaum, @panzer, @brianstelter, @richlightshed, The Desk, Bloomberg, C21Media, @parryravi, Digital TV Europe, @jbflint and The Week

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.

Discussion: CNBC, @loudmouthjulia, @thejannissary, @jbflint, @loudmouthjulia, @loudmouthjulia, @stevekovach, @loudmouthjulia, @loudmouthjulia, Collider, @felixsalmon, @alexweprin, The Playlist, @loudmouthjulia, @loudmouthjulia, Newser and The A.V. Club

Joe Flint / Wall Street Journal:
Jason Kilar says he expects no long-term negative effects of releasing 2021 movies on HBO Max; sources: Warner Bros. paid $200M+ to appease talent

Discussion: Forbes, Ad Age, @mattzeitlin, @dylanbyers, @edhammondny, @nichcarlson, @jyarow, @optionshawk, @lucas_shaw, Gizmodo, nexttv.com, The Wrap, Mediaite and @drewfitzgerald

Lindsey Ellefson / The Wrap:

Vice News names its news director Michael Learmonth as new EIC, filling a role that has been vacant since 2019 — Michael Learmonth was named Vice News' new editor in chief Monday, filling a role that has been vacant since 2019. He was promoted from news director, a job he held since 2016.

Discussion: @katiedrumm, MediaPost, @mccarthyryanj, @kenli729 and @learmonth

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 — GAZA CITY, Gaza Strip (AP) — Israel slammed the Gaza Strip with airstrikes, in a dramatic escalation that included bombing the home …

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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 …

Discussion: Hollywood Reporter, Deadline, @sonnybunch, @jimmaiella, @benyt, @mattbelloni and Variety

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 …

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

Discussion: @johnlmacfarlane, Engadget, @amazonmusic, @richontech, 9to5Mac, @c_davies, musically.com, The Verge, @richontech, @kintan, MacRumors, @richontech, @ampressman and @micahsingleton, more at Techmeme »

Reuters:

Axel Springer and Facebook strike a global deal, allowing content from Bild, Welt, Insider, and others to be distributed in Facebook News at its German launch — Axel Springer and Facebook said on Monday that they had agreed on a global cooperation deal under which content from the German publisher …

Discussion: Axel Springer SE, @fabiochiusi, @pressgazette, @gbrotman and @markscott82

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 …

Discussion: The Wrap and The Verge, more at Techmeme »

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

Discussion: @deggans

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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