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6:05 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, New York Times, Hollywood Reporter, Washington Post, Axios, Variety, CNN, Wall Street Journal, MediaPost, The Wrap, The Wrap, Bloomberg, Variety, @sherman4949, ScreenRant, @frankpallotta, @claireatki, Discovery, Inc., Variety, The Streamable, Mediaite, The Information, CNBC, Insider, Digiday, The Hill, Ad Age, CNBC, Scrawler, IndieWire, @kerrymflynn, @senblumenthal, Forbes, @sherman4949, @annaknicolaou, @loudmouthjulia, Fast Company, @lucas_shaw, @lucas_shaw, Insider, @lucas_shaw, FierceVideo, @sadogre, @pkafka, Vanity Fair, Light Reading, @sherman4949, The Week, @sherman4949, @richlightshed, @sherman4949, Variety, @sherman4949, Den of Geek, @kerrymflynn, @benyt, @digitalshields, @lucas_shaw, @karaswisher, @karlbode, @loudmouthjulia, @sherman4949, @brianstelter, @pkafka, @mbgelman, @dylanbyers, Protocol, @erikdavis, @ditzkoff, @lucas_shaw, @frankpallotta, @cgasparino, @mattdraperyt, @edmundlee, /Film, @backlon, @sherman4949, @pkafka, @jackmirkinson, @brazilbrian, @thetruebrendanf, @oliverdarcy, @zakiscorner, @cgasparino, @nycsouthpaw, @hblodget, @jeremymbarr, @cnbc, @loudmouthjulia, @carnage4life, @keithboykin, @loudmouthjulia, @alexweprin, @panzer, @sivavaid, @gracerandolph, @mims, @jimwaterson, @jbflint, @awallenstein, @sarafischer, @dylanbyers, @rakeshlobster, @richlightshed, @brianstelter, @magsvisaggs, @gadyepstein, @brianstelter, @w7voa, @thatjakepc, @andrearene, @jasonlynch, @scottporch, ZDNet, @sherman4949, AppleInsider and Adweek, more at Techmeme »
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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.
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 …
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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 …
Sarah Krouse / The Information:
Sources: Google's plans to match Apple's ATT changes have been delayed by internal concerns that such moves will diminish mobile ad revenues  —  Pressured by Apple's recent iPhone privacy initiative, Google is accelerating work to limit how app developers can track the 2.5 billion people who use phones powered by its Android software.
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
 
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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”
Variety:
Investors and analysts including Warren Buffett weigh in on “stupid” stock swings affecting ViacomCBS, Discovery, and AMC Entertainment, plus problematic SPACs
 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
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