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10:50 AM ET, December 12, 2024

Mediagazer

 Top News: 
Brian Steinberg / Variety:
Warner Bros. Discovery announces a restructuring to create two separate units: one for linear TV networks and one for production studios and streaming platforms  —  The maneuver was unveiled just days after Comcast said it planned to spin off the bulk of its NBCUniversal cable networks …
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Brian Stelter / CNN:
Warner Bros. Discovery's shares jump 13%+ after the company announced a restructuring that is expected to take effect by mid-2025  —  Warner Bros. Discovery, CNN's corporate parent, announced Thursday, it is establishing a new corporate structure that splits its cable networks off from its growing streaming business.
Discussion: Adweek, @mediaevan and @lucas_shaw
Benjamin Mullin / New York Times:
BuzzFeed reaches a deal to sell Hot Ones owner First We Feast for $82.5M in cash to a consortium of investors led by an affiliate of Soros Fund Management  —  The sale, to a group that includes the show's host, Sean Evans, and Soros Fund Management, will allow BuzzFeed to pay down tens of millions of dollars in debt.
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Todd Spangler / Variety:
BuzzFeed says selling First We Feast will cut its outstanding debt by $89M to $30M and let it operate with a cash balance larger than its total outstanding debt  —  “Hot Ones” is going solo.  —  BuzzFeed announced a deal to sell First We Feast, the studio behind the popular YouTube chicken …
Costas Pitas / Reuters:
Donald Trump picks former news anchor and hardline Republican Kari Lake to be the director of US government-funded media outlet Voice of America  —  U.S. President-elect Donald Trump on Wednesday said he was picking Kari Lake, a former news anchor and a hardline Republican who failed to win …
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Katie Robertson / New York Times:
The NYT Tech Guild and its 600+ members reach a tentative deal with management on a contract enhancing job security, setting flexible hybrid schedules, and more  —  The union, which represents some 600 tech workers at the publication, had been negotiating for a contract for more than two years.
The Guardian:
Guardian and Observer journalists hold a second 48-hour strike against The Observer sale to Tortoise Media; the Scott Trust has agreed to the sale in principle  —  Second two-day action follows news that the deal was agreed in principle last week by the Scott Trust
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Jessica Toonkel / Wall Street Journal:
Current and former Netflix staff say the company has walked back its parental-leave benefits, after shifting its focus from subscriber growth to profitability  —  Employees worry the pullback and other new restrictions mean the entertainment giant is losing the identity that fueled its success
Matt Yoder / Awful Announcing:
YouTube is informing customers that monthly price for YouTube TV's base plan will jump from $73 to $83 in January 2025, after raising it from $65 to $73 in 2023  —  YouTube TV logo  —  Streaming services became a popular alternative to cable and satellite television because they were available …
Nic Fildes / Financial Times:
Australia plans a levy on tech companies like Meta with $250M+ in local revenue to force them to pay publishers for journalism, after Meta quit the prior deal  —  Move is designed to close loophole after Meta walked away from existing deal to use media content
Ken Klippenstein:
Slack messages: NYT editors tell reporters to “dial back” on using photos of alleged UnitedHealth gunman Luigi Mangione and to avoid publishing his “manifesto”  —  Times management directs staff to “dial back” Luigi Mangione headshots
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 More News: 
Brian Steinberg / Variety:
Nexstar Media, owner of NewsNation, The Hill, The CW, and local TV stations, plans layoffs that it says will affect less than 2% of its 13,000-member workforce
 Earlier Picks: 
Kurt Wilms / YouTube Official Blog:
YouTube says viewers globally streamed 1B+ hours of content daily on TVs in 2024, including 400M+ hours of podcasts monthly; sports content watchtime grew 30%+
 

 
From Techmeme:

Kyle Wiggers / TechCrunch:
Trump signs an EO renaming the US Digital Service as the US DOGE Service, directing agency heads to form “DOGE Teams” of at least four employees within 30 days

Counterpoint Research:
Chinese smartphone sales fell 3.2% YoY in Q4 2024, the only negative quarter in 2024; Apple fell 18.2% to a 17.1% share and Huawei rose 15.5% to an 18.1% share

David Shepardson / Reuters:
Trump revokes Biden's 2023 executive order that sought to reduce the risks that AI poses to consumers, workers, and national security, fulfilling a GOP pledge
 
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