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3:15 PM ET, September 12, 2025

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 Top News: 
Jessica Toonkel / Wall Street Journal:
Sources: Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery, backed by the Ellison family; WBD jumps nearly 30%  —  The majority of the planned bid for Warner will be made up of cash  —  Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery …
Lachlan Cartwright / Breaker:
Puck, co-founded by Jon Kelly in 2021, has agreed to acquire Graydon Carter's Air Mail; both outlets have mutual investors, including TPG  —  Another POLITICO Star Eyeing The Exits … In tonight's edition, Graydon Carter and Jon Kelly go way back to when Kelly was Carter's assistant at Vanity Fair.
Carmen Russell-Sluchansky / WHYY:
Penn State University plans to “wind down” public media station WPSU by June 2026 after a university board declined to transfer ownership to Philadelphia's WHYY  —  In voting down a proposal to transfer the station to WHYY, trustees expressed concern over a $17 million subsidy and wanted a commitment to hire staff.
Dominic Ponsford / Press Gazette:
The Guardian reports revenue in the year to March up 7% YoY to £276M, losses down £24M from £37M the year prior, and 1.3M “recurring supporters” online, up 13%  —  The Guardian has reported a bumper year for digital reader revenue, up by 22% from £88m …
Scott Nover / Washington Post:
A federal judge issues an order barring federal agents with DHS from using crowd-control weapons against journalists; the order applies to seven CA counties  —  The judge cited an “avalanche of evidence” that ICE and Border Patrol agents and L.A. police violated the rights of reporters covering protests of immigration raids.
Kelly Cloonan / Wall Street Journal:
BuzzFeed relaunches its flagship YouTube channel amid a broad overhaul of the company's business; pilots for new shows will launch throughout the fall  —  The channel will bring back some fan-favorite series and also have a new slate of programming, the company says
Discussion: Business Wire
Sarah Perez / TechCrunch:
Rapper Wyclef Jean, now chief creative officer for OpenWav, extols the startup's tools that let musicians sell tickets, connect directly with fans, and more  —  Grammy Award-winning musician, composer, and producer Wyclef Jean says the music industry is broken, which is why he's now involved with a startup …
Chloe Mac Donnell / The Guardian:
Edward Enninful's quarterly print magazine, 72, launches with no print ads, but “powered by incredible companies”; at least seven Vogue staffers have joined 72  —  Former British Vogue editor has mined his starry contacts book for first issue of 72, with Julia Roberts on the cover
Naman Ramachandran / Variety:
MPA: streaming will make up $5B of $15.8B projected to be invested in video content in the Asia Pacific region in 2025, passing traditional pay-TV, a first  —  Streaming platforms will overtake traditional pay-TV as the largest source of content investment in Asia-Pacific in 2025 …
 
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 More News: 
Blake Brittain / Reuters:
Encyclopedia Britannica and Merriam-Webster sue Perplexity, alleging that it unlawfully scraped their websites and redirected their traffic to its AI summaries
Hanaa' Tameez / Nieman Lab:
Analysis: journalism's DEI efforts in the US have declined, fueled in part by the Trump administration's quashing of diversity initiatives
 Earlier Picks: 
John Koblin / New York Times:
The differences between Severance and The Pitt in terms of budget, star power, time between seasons, and genre attest to changes in priorities for streamers
David Folkenflik / NPR:
NPR names Thomas Evans as its new editor-in-chief, starting September 15; Evans joined NPR in 2024 and was previously CNN's London bureau chief
Jack Dunn / Variety:
Source: MSNBC fires political analyst Matthew Dowd over his on-air comments about Charlie Kirk; MSNBC President Rebecca Kutler and Dowd apologized for them
Discussion: 404 Media, @msnbcpr, The Wrap, Mediaite, Vibe, Barrett Media, RedState, @matthewjdowd.bsky.social, @fbajak.bsky.social, @juliedicaro.bsky.social, The Guardian, Us Weekly, HuffPost, The Free Press, @carolynmichelle.bsky.social, The Daily Caller, Townhall, al.com, Newsbusters, Associated Press, @covie_93, @seanbrodrick.bsky.social, @shethadamntruth.bsky.social, @HamonWry@mastodon.world, PRWeek, New York Sun, @looking_finding, @rbpundit, @heerjeet, @trouble_man90, @_maxgranger, @chriscillizza, @canteverdie, @2blessed2nv, @jimgeraghty, jarvis, solo ult the healer, @dceiver.bsky.social, @geoff61.bsky.social, Wall Street Journal, @fatsam@mstdn.social, Blaze Media, @tlf5foot8.bsky.social, @johnshirley2024.bsky.social, Lawyers, Guns & Money, @authorguy.bsky.social, USA Today, Adweek, National Legal …, The Charlotte Observer, @brianstelter, Metro.co.uk, @alliegata.bsky.social, Hollywood Life, The Federalist, @reinbowcleric.bsky.social, National Enquirer, RADAR, Gizmodo, Newser, The US Sun, Talking Points Memo, The Hollywood Gossip, The A.V. Club, Los Angeles Times, Jewish, MLive.com, Entertainment Weekly, The Daily Signal, New Jersey Online, Reason, Sandra Rose, The Washington Free Beacon, The National Pulse, Le·gal In·sur·rec·tion, The Hill, Time, TMZ.com, Althouse, Washington Times, TV Insider, New York Daily News, Imprisoned for llama crimes, Plain Dealer, Suggest, NewsMax.com, Washington Examiner, The Tab, New York Post, Just Jared, One America News Network, @atherton.bsky.social, Newsweek, Tampa Free Press, Fox News, ZeroHedge News, The Gateway Pundit, Deseret News, The Hollywood Reporter, Variety, Deadline, Raw Story and HotAir
 

 
From Techmeme:

Kurt Wagner / Bloomberg:
Sources: Meta is considering deep budget cuts to its metaverse efforts in 2026, potentially as high as 30% and most likely including layoffs as early as January

Kif Leswing / CNBC:
Apple says general counsel Kate Adams and policy chief Lisa Jackson will retire, and Jennifer Newstead, Meta's former chief legal officer, will replace Adams

Will Oremus / Washington Post:
Two studies suggest AI chatbots can shift political views more effectively than TV campaign ads, especially by presenting many claims, regardless of accuracy
 
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