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11:05 AM ET, May 3, 2024


 Top News: 
New York Times:
Sources: Sony Pictures and Apollo Global formally express interest in acquiring Paramount for ~$26B; Paramount's negotiating period with Skydance ends May 3  —  Paramount has been exploring a potential deal for months, talking to suitors including Skydance, producer of “Top Gun: Maverick.”
Steven Levy / Wired:
Jeff Lawson's Global Tetrahedron plans membership tiers for the Onion and doesn't plan to put up a hard paywall as it moves away from G/O's ad-focused approach  —  Entrepreneur Jeff Lawson's plan to revive venerable satirical outlet The Onion involves borrowing from the playbook of the founders of WhatsApp.
Bron Maher / Press Gazette:
The Guardian outlines plans for a “small number of voluntary redundancies”, says it is 60% funded by readers, and had a £39m loss in the year to March 2024  —  Editor Katharine Viner said the business foresees revenue pressures continuing into the next year at least.
Discussion: Telegraph and The Drum
Etan Vlessing / The Hollywood Reporter:
Fubo reports 1.51M FuboTV subscribers at the end of Q1, down from 1.61M in Q4, revenue up 24% YoY to $394M, and a $56.1M loss, down from $83.6M a year ago  —  The streaming platform shrunk its losses on higher subscription and advertising revenue.  —  Sports streaming platform FuboTV …
Discussion: The Streamable
Andrew Marchand / The Athletic:
Sources: MLB is in advanced talks to make Roku the new home for Sunday morning baseball this season, in what would be Roku's first major live rights deal  —  Major League Baseball and Roku are in advanced talks to make the service the new home for Sunday morning baseball this season …
Charlotte Klein / Vanity Fair:
For weeks, grad students at The Columbia Journalism School have chronicled protests, and professors worked to ensure access and safety as the campus locked down  —  They've gotten a crash course in breaking news, capturing the Hamilton Hall occupation and the NYPD's crackdown, while surviving on pizza and operating on little sleep.
Todd Spangler / Variety:
Apple reports Q2 revenue from Services, which includes Apple TV+ and Apple Music, up 14% YoY to $23.9B, vs. $23.12B estimated, an all-time record  —  The Apple Services segment generated $23.87 billion, up 14.2%, for the quarter ended March 30, topping analyst forecasts of $23.12 billion.
Jill Goldsmith / Deadline:
A look at 2023 media CEO pay amid industry contraction: Charter CEO Chris Winfrey, $89M; Endeavor CEO Ari Emanuel, $84M; WBD CEO David Zaslav, $49.7M; and more  —  It was a year of pain for the entertainment industry and shareholders of (many) media companies with months-long Hollywood strikes and layoffs.
Clare Malone / New Yorker:
A look at Hunterbrook, whose hedge fund makes trades based on investigations by its newsroom, and well-connected founders Sam Koppelman and Nathaniel Horwitz  —  The hybrid media-finance company wants to monetize investigative journalism in the public interest.  Is it a visionary game changer or a cynical ploy?
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 More News: 
Jack Mirkinson / Discourse Blog:
Dana Bash's May 1 CNN monologue about pro-Palestinian student protests included lies, regurgitated others' spin, and repeated lines of pro-Israel propaganda
Etan Vlessing / The Hollywood Reporter:
In a letter, Fubo, DirecTV, and others call on Congress to hold hearings on the Fox, Disney, and WBD's sports streamer, citing “serious competition concerns”
Alex Weprin / The Hollywood Reporter:
Nielsen signs a deal to be SAG-AFTRA's third-party provider of streaming content measurement, to help the union cross-check viewership data from streamers
 Earlier Picks: 
Jim Edwards / Press Gazette:
A look at 1440, a media brand with a single daily newsletter that aggregates news and has 3.5M subscribers, 15 staff, and ~$15M in annual revenue
Kyle Chayka / New Yorker:
As social media platforms pivot away from news distribution, a look at news sites like The Verge, which feel more like social media, with aggregation and more
Jem Aswad / Variety:
Universal Music Group and TikTok strike a new music licensing deal to bring UMG music back to the platform, including “improved remuneration” and AI protections