Top News:
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.
Discussion:
The Wrap, @derekberes.bsky.social, Business Insider, Forbes, Deadline, The Information, The Hollywood Reporter, @benmullin, @jusaire, @pkafka, @ernie.tedium.co, @katienotopoulos.bsky.social, @pkafka, @maxwelltani, @pkafka@threads.net, Nicholas Schonberger on LinkedIn, @lanceulanoff, @sizpatel and @katienotopoulos.bsky.social
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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 …
Discussion:
Reuters, Los Angeles Times, NBC News, BuzzFeed, Inc., Benzinga, Just Jared, Rich Antoniello on LinkedIn and The Verge
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 …
Discussion:
Warner Bros. Discovery, Business Insider, Business Insider, @willmckinley, @sherman4949, Barrett Media, TVNewsCheck, @pkafka@threads.net, Cord Cutters News, The Wrap, Yahoo Finance, Reuters, Bloomberg, The Information, @bristei, @bristei, @mediaevan.bsky.social, @tvgrimreaper, @brianstelter, @asharma, @brianstelter, Broadband TV News, CNBC, The Verge, WORLD SCREEN, Barron's Online and The Hollywood Reporter
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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, @lucas_shaw and @mediaevan
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 …
Discussion:
CNN, New York Times, Adweek, Mediaite, USA Today, NPR, Forbes, Raw Story, The Independent, @brianstelter, @brianstelter, @brianstelter, RedState, Townhall, The American Spectator, @aidnmclaughlin, @yashar, @brianstelter, @brianstelter, @nicksortor, @usa_polling, @damintoell, @brianstelter, @andrewfeinberg, @libbeydean_, Washington Post, @admcrlsn, The Hill, @farhip, @samstein, @brianstelter, Twitchy, Roll Call, Breitbart, Politico, Al Jazeera, Associated Press, Alternet.org, UPI, Arizona Mirror, Fox News, @davidfolkenflik.bsky.social, @davidfolkenflik.bsky.social, @dangillmor.mastodon …, New York Post, NBC News, The Desk, @matthewkeys.net, Daily Mail, The Gateway Pundit, CBS News, @bubbaprog.lol, @davidakaye.bsky.social, @helenkennedy.bsky.social, @olgalautman.bsky.social, @samlitzinger.bsky.social, @dandrezner.bsky.social, @kerravon.bsky.social, @joshtpm.bsky.social, Axios, Bloomberg, Washington Examiner, Crooks and Liars, Deadline, WTTG-TV, HuffPost, Washington Times, ABC News and Daily Kos
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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
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
Discussion:
Sydney Morning Herald, New York Post, Engadget, @jason_kint, B&T, Al Jazeera, Australian Financial Review, Raw Story, TechCrunch, BBC, The Register, Reuters, Business News Australia, 9News, Reuters, Mumbrella, Australian Business Journal, @ketanjoshi.co, @asherwolf.bsky.social, Dave Earley on LinkedIn, Crikey and The Guardian, more at Techmeme »
Dominic Ponsford / Press Gazette:
Email: the Guardian Media Group declined to engage with an alternative bid enquiry for The Observer due to exclusivity terms with Tortoise — Guardian Media Group declined to engage with an alternative bid enquiry for The Observer on Tuesday, telling the interested party it could not speak …
Discussion:
@dominicponsford.bsky.social
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Daniele Lepido / Bloomberg:
Italian broadcaster MediaForEurope says it is looking to accelerate its plan to build a pan-European free-to-air TV hub after securing a €3.4B credit facility — - Broadcaster adds financial muscle to bankroll future plans — CEO doesn't rule out a bid for rest of Germany's ProSieben
Discussion:
Reuters
Todd Spangler / Variety:
Former NBC News president Noah Oppenheim, Lloyd Braun, and Sarah Bremner launch indie studio Prologue Entertainment, backed by Jeff Zucker and RedBird Capital — A trio of entertainment veterans — Lloyd Braun, Sarah Bremner and Noah Oppenheim — have come together to form independent …
Discussion:
The Wrap, Deadline and The Hollywood Reporter
Julia Jacobs / New York Times:
The NLRB issues a complaint against Netflix's Love Is Blind and classifies its contestants as employees, a case that could have ripple effects across reality TV — The National Labor Relations Board's case against the Netflix hit could have ripple effects across the reality TV industry.
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
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.
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