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7:40 PM ET, June 5, 2026

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 Top News: 
Jody Godoy / Reuters:
Sources: a group of US states is preparing a lawsuit against Paramount's WBD acquisition; California's AG has said his office would make a decision soon  —  A group of U.S. states including California and New York are preparing a lawsuit to block Paramount Skydance's (PSKY.O) …
RELATED:
Sabrina Willmer / Bloomberg:
A judge orders Paramount Skydance to reveal some internal docs from its 2025 merger, in a lawsuit by investors who say the deal unfairly enriched Shari Redstone  —  A Delaware Chancery Court judge ordered Paramount Skydance Corp. to hand over some internal communications tied to the 2025 merger …
Ted Johnson / Deadline:
Memo: Lesley Stahl, Bill Whitaker, and Jon Wertheim say they will stay at 60 Minutes as they don't want to see it die and are “working to build trust with Nick”  —  The three remaining fill-time correspondents on 60 Minutes — Lesley Stahl, Bill Whitaker and Jon Wertheim …
Nicole Sperling / New York Times:
A profile of Netflix's film division chair Dan Lin, who's greenlit 88 films since 2024, shifting strategy toward budget discipline and in-house development  —  When Dan Lin, the chairman of Netflix's film division, read the script for a survival thriller set in the remote wilderness of Australia …
Matthew Keys / TheDesk.net:
Newsmax is planning to expand to Germany, Italy, Greece, and other international markets this year through partnerships and licensing deals with other companies  —  Cable news outlet Newsmax is launching localized versions of its channel in several more countries this year …
Jennifer Maas / Variety:
Paramount Skydance unveils Paramount Games Studio, which combines Skydance's two game studios with Paramount's IP, to be headed by Tony Driscoll  —  David Ellison has been moving pieces around the board in reshaping the new Paramount Skydance over the past year.
Todd Spangler / Variety:
Reed Hastings departs Netflix's board following the June 4 annual shareholders meeting; Jay Hoag, Netflix's lead independent director, is named chairman  —  Shareholders last year had voted to oust Hoag, previously lead independent director at the streamer  —  It's a changing for the guard at the top of Netflix's board.
Discussion: The Wrap, Deadline, Reuters and Bloomberg
Isabella Kwai / New York Times:
How LinkedIn is transforming into a “post-cringe” social network as it courts high-profile influencers, who are building audiences on corporate-friendly topics  —  Celebrities and paid influencers have transformed the career-focused platform, which for some users, has become a job unto itself.
Charlotte Tobitt / Press Gazette:
The Guardian's EIC says digital reader revenue rose 17% YoY to £125M in the year to March 31 and over 40% of revenue is from outside the UK, up from 8% in 2016  —  More than 80% of revenue coming from outside the UK at The Guardian did not exist ten years ago, editor-in-chief Katharine Viner has revealed.
Anthony D'Alessandro / Deadline:
This weekend, Lionsgate's Michael will become the studio's highest grossing movie; the Michael Jackson biopic has earned $346.6M domestically and $508M+ abroad  —  You know it's a great summer when myriad studios are hitting all-time company records at the global box office.
Discussion: ScreenRant
 
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 More News: 
Josh Gerstein / Politico:
Thomas Pauken II, a US journalist who worked for Chinese state-run media, has pleaded guilty to working as an unregistered agent for China in the US
 Earlier Picks: 
Austin Karp / Sports Business Journal:
Telemundo says it will not cut away to commercials during World Cup hydration breaks, but there will be “some commercial aspects” that won't interrupt viewers
Page Six:
Sources: Nick Bilton is making $2.5M to lead 60 Minutes, or $1M more than Tanya Simon was paid for the same job before being ousted
 

 
From Techmeme:

Bloomberg:
President Trump says he is weighing proposals for US government to hold equity stakes in leading AI labs, and will soon discuss the idea with their executives

Bloomberg:
Filing: Google has agreed to pay SpaceX $920M per month for access to Nvidia chips as part of a cloud-services deal that runs through mid-2029

Financial Times:
Sources: Meta explores a stock offering to raise tens of billions to fund AI capital expenditures, following Google's record $85B share deal; META drops 5%+
 
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