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3:50 PM ET, January 20, 2026

Mediagazer

 Top News: 
Todd Spangler / Variety:
Netflix and WBD say Netflix revised its WBD offer to an all-cash deal for $27.75/share, with the same $82.7B value; its original bid had $59B in debt financing  —  Netflix and WBD announced Tuesday that they amended their definitive agreement for Netflix's proposed acquisition of Warner Bros. assets …
Alex Weprin / The Hollywood Reporter:
Filings: WBD projects CNN will generate $1.8B in revenue and $600M in adjusted EBITDA for FY 2026; docs show CNN had revenue of $2.2B in 2021 and $1.8B in 2023  —  Warner Bros. Discovery is revealing financial details in connection with its planned spinout of Discovery Global.
Kerry Flynn / Axios:
Pitchfork launches a $5 per month or $50 per year subscription that lets readers comment on reviews, rate albums, and access its archive of 30,000+ reviews  —  Pitchfork is launching a new subscription that lets readers comment on reviews, rate albums themselves and access its full archive …
Discussion: Pitchfork
Katie Atkinson / Billboard:
Penske Media names Leila Cobo and Jason Lipshutz as co-chief content officers of Billboard, overseeing editorial content and newsroom operations  —  The pair will share oversight of Billboard's editorial content and newsroom operations. … Leila Cobo and Jason Lipshutz have been promoted …
Caitlin Huston / The Hollywood Reporter:
Adobe pledges ~$10M in grants and product donations in 2026 to support filmmakers, including funding creators directly for the first time  —  The software company is launching new partnerships with organizations including Dimoldenberg's Dimz Inc. Academy and Rideback RISE.
Discussion: @davelee.me
Rick Porter / The Hollywood Reporter:
Nielsen: Christmas Day 2025 set a record for US streaming usage with 55.1B minutes, or 54% of all TV viewing for the day, up by 3.9B minutes on Christmas 2024  —  The month of December also marked another all-time high for streaming usage.  —  With three streaming-exclusive NFL games …
Dade Hayes / Deadline:
A jury has found Edo, a TV ad measurement company, liable for breach of contract and says Edo must pay $18.3M in damages to rival iSpot; Edo plans to appeal  —  EDO, an advertising technology firm co-founded by actor and filmmaker Edward Norton, has been found liable for breach of contract by a federal jury.
Lucas Shaw / Bloomberg:
Source: Peter Chernin is in negotiations to sell his independent studio, North Road, to French media company Mediawan in a deal worth $700M to $1B  —  Peter Chernin is in talks to sell his independent production company  —  Hollywood is on the verge of a real estate crash.
Discussion: FlatpanelsHD
Ivan Mehta / TechCrunch:
Netflix adds a real-time voting feature for its Star Search reboot, available on mobile, smart TVs, and streaming devices, but not on a browser  —  Netflix today is launching a new feature that will allow users to interact with live content through voting.  The streaming company said the option …
Ted Johnson / Deadline:
MS NOW hires Mike Nizza as VP of digital to focus on building out the network's subscription-based content  —  MS NOW has hired Mike Nizza as vice president of digital, with a focus on building out the network's subscription-based content.  —  Nizza will report to Madeleine Haeringer …
Zach Vallese / CNBC:
Sensor Tower: Reels accounted for 50%+ of all Instagram ads in 2025, up from 35% in 2024; Reels accounted for 46% of time spent on Instagram in the US in 2025  —  More than half of all ads on Meta's Instagram ran in the service's short-form video Reels product in 2025, up from 35% in 2024 …
 
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 More News: 
Charlotte Tobitt / Press Gazette:
Evening Standard plans to outsource its digital operations to Independent Media effective March 1; the Standard will still publish its weekly print newspaper
Discussion: Financial Times
Jess Weatherbed / The Verge:
Sony and TCL sign a non-binding agreement to spin off Sony's TV and home audio hardware business into a new joint venture, aiming to finalize the deal by March
Meredith Klein / Meredith & The Media:
Q&A with Josh Sternberg, executive editor at Morning Brew, about leading Morning Brew's editorial strategy, the ever-changing media landscape, and more
Discussion: Talking Biz News
 Earlier Picks: 
Saahil Desai / The Atlantic:
As news outlets treat prediction markets like news, especially heading into US elections, every dip and swing in the odds may end up wildly misleading people
Washington Post:
CBS airs 60 Minutes' CECOT segment, which Bari Weiss shelved in December as it lacked an on-camera interview with a Trump official, without such an interview
 

 
From Techmeme:

Amrith Ramkumar / Wall Street Journal:
President Trump signs two executive orders aimed at speeding the development of advanced quantum computers and mitigating the security threats they present

Carl Franzen / VentureBeat:
Sakana AI launches Fugu, a multi-agent orchestration system accessible through a single model API, claiming Fugu Ultra matches Fable and Mythos on benchmarks

Jay Peters / The Verge:
Valve's Steam Machine, its new living room Linux PC, will start at $1,049 for the 512GB base model without a controller, and will go on sale starting June 29
 
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