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5:05 AM ET, September 6, 2023

Mediagazer

 Top News: 
Georg Szalai / The Hollywood Reporter:
Filing: WBD forecasts 2023 adjusted EBITDA down by $300M-$500M to $10.5B-$11B, citing strikes, and $1.7B+ in Q3 2023 free cash flow due to Barbie and strikes  —  “The company now expects to exceed $1.7 billion in free cash flow for the third quarter of 2023, in part due to the strong performance …
Georg Szalai / The Hollywood Reporter:
Wall Street analysts say the Disney-Charter dispute could be a tipping point for cable TV and adds uncertainty to the industry even if it's resolved quickly  —  Wall Street analysts debate whether the standoff between the studio and the cable giant is “the end of the end,” …
Rebecca Bellan / TechCrunch:
Elon Musk threatens to file a defamation lawsuit against the ADL for “falsely accusing” X and him of antisemitism and blames the ADL for X's falling US ad sales  —  In the newest uproar you might have missed, Elon Musk says X, formerly Twitter, will file a defamation lawsuit against the Anti-Defamation League.
Miles Klee / Rolling Stone:
Sean “Diddy” Combs returns the music publishing rights from his label Bad Boy Records to artists, including the Notorious B.I.G.'s estate, Mase, and Faith Evans  —  In an “unprecedented” move, the estate of Notorious B.I.G. is among those to reclaim songs from the iconic label's catalog
Wall Street Journal:
How Spotify's $1B+ bet on podcasts has not paid off: most shows aren't profitable and the company has considered an ad revenue-sharing model akin to YouTube's  —  The prospect of podcast riches led to aggressive investments in celebrity deals and original programming for what appeared a sky's-the-limit media frontier
RELATED:
Ashley Carman / Bloomberg:
Email: Spotify raises the listener threshold for creators in Ambassador Ads from 100 to 1,000 over 60 days, and plans to cut ad support for white noise podcasts
Ted Johnson / Deadline:
OANN and one of its on-air personalities, Chanel Rion, settle a defamation suit by a Dominion Voting executive over false claims he helped rig the 2020 election  —  - Proud Boys Leader Enrique Tarrio Sentenced To 22 Years In Prison For Role In January 6th Conspiracy
Discussion: Insider, The Daily Beast and CNN
Jon Lafayette / Next TV:
Allen Media Group's Local Now streaming service adds Washington Post Television, which offers breaking news, interviews, and in-depth reporting, to its lineup  —  Newspaper started channel in May  —  Allen Media Group said its Local Now digital platform had added Washington Post Television to its channel lineup.
Discussion: Washington Post and TVNewsCheck
Hartley Charlton / MacRumors:
Apple acquires Sweden-based BIS Records, founded in 1973, and plans to fold the classical music label into Apple Music Classical and Apple's A&R label Platoon  —  Apple will acquire the major Swedish classical music record label BIS Records, intending to fold it into Apple Music Classical and Platoon.
Financial Times:
eMarketer expects US podcast ad spending to hit $2.2B in 2023, up from $1.7B in 2022, or ~10% of radio; Edison: 80%+ of Americans listen to radio weekly  —  The rise of podcasts has not fully cannibalised other forms of entertainment  —  The audience for podcasts is younger …
Discussion: Inside Radio
André Beganski / Decrypt:
Story Protocol, a blockchain-based IP ownership network that aims to address creatives' concerns over AI, raised over $54M led by Andreessen Horowitz  —  Andreessen Horowitz invested in a startup that uses blockchain tech to address problems heightened by artificial intelligence.
 
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 More News: 
Reuters:
Indian police file criminal charges against four journalists covering ethnic violence in the country and accuse their reporting of trying to “provoke clashes”
Discussion: Breitbart
Meta:
Meta plans to deprecate the Facebook News tab in the UK, France, and Germany in early December 2023 and won't sign new deals for news content in those countries
Jessica Toonkel / Wall Street Journal:
Antenna: MLS Season Pass had 110K+ US signups on July 21, the day of Messi's first MLS match, up from 6,143 on July 20; July was TV+'s best signup month in 2023
 Earlier Picks: 
Reuters:
Malaysia says the government is in talks with Google, Meta, and other companies over a regulatory framework that requires paying news outlets for their content
Eva Hartog / Politico:
Politico Europe's reporter in Moscow, expelled after 10 years in Russia, on how journalists from Western countries are being slowly squeezed out of the country
Financial Times:
A look at Sony India's merger with Zee Entertainment: creating a 74-channel media powerhouse and giving Sony a 24.8% market share, compared to Disney Star's 24%
 

 
From Techmeme:

Wall Street Journal:
Source: Apple is no longer in talks to participate in an OpenAI funding round that is expected to raise as much as $6.5B

Bill Toulas / BleepingComputer:
The US DOJ charges two Russians for operating $1B+ money laundering services for cybercriminals; one is accused of operating the Joker's Stash marketplace

Ricardo Brito / Reuters:
Court docs: Brazil's Supreme Court say X still needs to pay $5M+ in pending fines, including a new one, before it will be allowed to resume service in Brazil
 
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