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3:30 PM ET, May 29, 2026

Mediagazer

 Top News: 
Jem Aswad / Variety:
UMG rejects the $64B acquisition offer from Bill Ackman's Pershing Square, saying the deal is not in the best interests of UMG, shareholders, and stakeholders  —  The board of Universal Music Group has rejected an unsolicited $64 billion takeover offer from Bill Ackman's Pershing Square Capital, the company announced on Friday.
CNBC:
Q&A with Brendan Carr, who discusses Disney's claim that the FCC's early TV license renewal orders chill free speech and says the orders are about DEI  —  Following is the unofficial transcript of a CNBC interview with FCC Chairman Brendan Carr on CNBC's “Squawk on the Street” (M-F, 9AM-12PM ET) today, Friday, May 29.
Discussion: Mediaite and Breitbart
RELATED:
Todd Spangler / Variety:
ABC submits license renewal applications for its eight local TV stations to the FCC as ordered by the agency but says FCC's order violates the First Amendment
George Winslow / TV Tech:
In a public note, the FCC reminds broadcasters of public interest obligations and stresses that the agency can enforce rules and possibly take away licenses
Brian Welk / IndieWire:
After backlash, animator Jorge R. Gutierrez drops plans to make an AI-generated animated series called Punky Duck for Amazon MGM Studios' GenAI Creators' Fund  —  “My intent was to showcase artists, both new and seasoned, both inside and outside the studios, driving this new tech,” the director said on X.
Max Tani / Semafor:
An interview with Nick Bilton on working in TV news for the first time, building 60 Minutes' digital presence, having support from David Ellison, and more  —  The News  —  “My job is going to be rethinking how we tell stories in a completely new way,” Nick Bilton, who was tapped …
RELATED:
Brian Steinberg / Variety:
Sources: Bari Weiss ousted two senior 60 Minutes executive producers, Tanya Simon and Draggan Mihailovich, and correspondents Sharyn Alfonsi and Cecilia Vega
James Faris / Business Insider:
Internal doc: Disney plans to bring Hulu's content and features to Disney+ by year's end, and to decommission the Hulu app after users have transitioned  —  Disney's streaming tech teams are working to make the stand-alone Hulu app obsolete, though the company says “there are no current plans to sunset” it.
Michael Crowley / New York Times:
China ordered the expulsion of NYT reporter Vivian Wang in February; a source says the US revoked the visa of a Chinese national working for Xinhua in response  —  The Trump administration ejected a Chinese journalist amid fresh concerns about Beijing's growing pressure on foreign correspondents.
Discussion: Mediaite
ElevenLabs:
ElevenLabs launches Dubbing v2, which it says preserves the original speaker's emotion, tone, and pacing across 90+ languages while staying synced to content  —  Today we're launching Dubbing v2, our revolutionary new AI dubbing model.  —  For the first time, the emotion and performance …
Holly Bishop / The Independent:
A BBC Question Time episode featured a panel with AI-generated historical figures like Churchill, intended to show AI images' “hyper-real and persuasive” nature  —  - BBC Question Time aired a special episode on AI, featuring a panel composed of AI-generated historical figures.
Kari McMahon / A Media Operator:
Lookout Local, which launched in 2020 and now has two sites, expects its Santa Cruz, CA, site to be profitable by year-end and plans to have five sites by 2028  —  Lookout Local launched as a local news outlet in Santa Cruz, Calif., during the pandemic.  This year, it's expected to hit profitability.
 
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 More News: 
Charlotte Klein / New York Magazine:
Insiders say the nonfiction book publishing industry lacks contractual standards for AI use, leaving it vulnerable to copyright infringement and hallucinations
 Earlier Picks: 
Alex Weprin / The Hollywood Reporter:
CBS says it now expects to turn a $15M profit on late night, thanks to Byron Allen's time buy of the former Late Show time slot, which was losing $40M annually
Sarah Perez / TechCrunch:
Bluesky rolls out a Standard.site integration, letting users read long form articles, blog posts, and newsletters published across AT Protocol-powered apps
Katie Robertson / New York Times:
The New York Sun publisher Dovid Efune revives The Washington Star on Substack and sues NOTUS, which plans to rebrand as The Star, for trademark infringement
 

 
From Techmeme:

Kurt Wagner / Bloomberg:
Meta invests $900M into Indian fintech Cred for a ~20% stake, and plans to appoint Cred founder Kunal Shah as the leader of WhatsApp, replacing Will Cathcart

Wall Street Journal:
Satya Nadella says the public wouldn't tolerate a few AI labs “doing all of the learning for the world”, as Microsoft moves to provide low-cost models and tools

Sarah Basford Canales / The Guardian:
In a rare joint statement, Five Eyes leaders warn AI models capable of taking down governments and businesses are mere months away, urging leaders to “act now”
 
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