Top News:
CNBC:
Reddit priced its IPO at $34 per share, the top of its expected range, raising $519M and valuing the company at about $6.5B, ahead of its market debut — - Reddit priced its IPO on Wednesday at $34 a share, valuing the social media company at about $6.5 billion.
Discussion:
The Wrap, Reddit, Fast Company, Engadget, Quartz, Associated Press, @katie_roof, @akhenosiris, The Guardian, TechCrunch, Barron's Online, Proactive, Business Insider, Shacknews, Forbes, Axios, The Verge, MarketWatch, @lorakolodny@threads.net, Axios, Financial Times, New York Times, The Information, Fortune, @waxmonkey.bsky.social, Bloomberg, @josh.uno, Wall Street Journal and Sportico, more at Techmeme »
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New York Times:
The Newhouse family's Advance is set to reap a $1.4B windfall when Reddit lists on the NYSE on Thursday; Advance's Condé Nast bought Reddit for $10M in 2006 — The Newhouse family, which controls the Advance media empire, made a 2006 investment of $10 million in the social site, which plans to go public on Thursday.
Adam Chitwood / The Wrap:
WBD plans to launch Max in Europe starting on May 21 in the Nordics, Iberia, and Central and Eastern Europe, in time for the Olympics, included in all plans — The rollout is also timed to the second season of “House of the Dragon” — Max will begin its launch in Europe on May 21 …
Discussion:
Variety, Deadline, Media Play News, Advanced Television and Screen
Andrew Deck / Nieman Lab:
How The Intercept, Alternet, and Raw Story are using the Digital Millennium Copyright Act in suits against OpenAI, possibly serving as a model for other sites — Raw Story, AlterNet, and The Intercept are among the first smaller publications to go up against the AI goliath for copyright violations.
Discussion:
@laurahazardowen and @sarahscire
Molly Bohannon / Forbes:
A super PAC backing Ted Cruz got ~$215K from iHeartMedia, earned from selling ads for Cruz's podcast; Cruz had likened his show to cable news appearances — A super PAC affiliated with Sen. Ted Cruz reported receiving $215,000 in “digital revenue” from iHeartMedia on Wednesday …
Discussion:
Zach Everson on LinkedIn
Jason Koebler / 404 Media:
Deadspin's new owner Lineup outlines plans to publish with support “via partnerships within the sports betting industry” and to keep all old Deadspin's content — Join the newsletter to get the latest updates. — Success — Great! Check your inbox and click the link. — Error
Ben Schoon / 9to5Google:
YouTube TV gets multiview support on iOS and iPadOS, letting users watch up to four TV channels at once; Android support is set to arrive “in the coming months” — Google has confirmed that YouTube TV is now rolling out support for Multiview on the iPhone and iPad, but the feature won't arrive on Android for a while.
Discussion:
The Verge, more at Techmeme »
Benoit Berthelot / Bloomberg:
France's TF1 plans to expand its streaming platform to Belgium and Luxembourg in June 2024, and to French-speaking African countries in the next 18 months — - TF1+ will expand to more French-speaking markets this year — CEO Belmer aims to grow base of advertisers for platform
Discussion:
Variety, Deadline and Broadband TV News
Daniel Thomas / Financial Times:
Sources: the BBC plans to build its own AI models, and is holding talks with tech companies, including Amazon, about selling its content for AI training — UK broadcaster seeks to build artificial intelligence models and negotiates with companies on content deal
Discussion:
Reuters, more at Techmeme »
Cynthia Littleton / Variety:
A US federal judge dismisses DirecTV's lawsuit from March 2023 that accused Nexstar of engaging in price-fixing activity around the retransmission consent fees — A federal judge has dismissed the antitrust lawsuit that DirecTV filed against Nexstar last year accusing the TV station giant …
Discussion:
The Wrap, Deadline, Radio & Television …, The Desk and Cord Cutters News
Jessica Toonkel / Wall Street Journal:
Sources: private equity firm Apollo Global Management has made an $11B offer to buy Paramount Global's film and TV studio — Offer comes as Paramount's directors are weighing merger with Skydance — Private-equity firm Apollo Global Management has made an $11 billion offer …
Discussion:
The Wrap, Broadband TV News, Reuters, @lucas_shaw, Financial Times, Advanced Television, TrekMovie.com, The Information, Dan Rayburn on LinkedIn, Bloomberg, New York Post, Forbes, @nycsouthpaw@threads.net, Los Angeles Times, The Hollywood Reporter, Deadline, Variety, TheDesk.net on LinkedIn, Jessica Toonkel on LinkedIn, The Desk, Next TV and Cord Cutters News
Zephyr Teachout / The Atlantic:
The TikTok divestment bill fits into a long and important US tradition of forbidding a hostile foreign power from controlling a major communication platform — America has a long history of shielding infrastructure and communication platforms from foreign control.
Discussion:
@zephyrteachout, @mark_histed, @zephyrteachout, @theatlantic, @niubi, @dlberes, @zephyrteachout and @zephyrteachout, more at Techmeme »
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