A large pile of cash is now sidling up to all the chatter. In an initiative announced this month, 22 donor organizations, including the Knight Foundation and the John D. and Catherine T. MacArthur Foundation, are teaming up to provide more than $500 million to boost local news over five years — an undertaking called Press Forward. Journalists and publishers on the local scene in markets across the country have worked nonstop to bring their neighbors important stories and experiment with ways of paying for the service. The injection of more than a half-billion dollars is sure to help the quest for a durable and replicable business model.
A deal in the negotiations between the WGA and studios CEOs to end the nearly five-month long writers’ strike looks within sight. During the meeting Saturday at the AMPTP Sherman Oaks office, the parties appear to have untangled their stalemate over AI and writing room staffing levels. With Netflix’s Ted Sarandos, Universal’s Donna Langley, Disney’s Bob Iger and Warner Bros Discovery’s David Zaslav participating from afar, attorneys are said to be deep-in working on final language for a three-year deal.
“The WGA and AMPTP met for bargaining on Friday and will meet again on Saturday,” the guild confirmed in a note sent out to members at 9:41 p.m. Friday. “Thank you for the wonderful show of support on the picket lines today! It means so much to us as we continue to work toward a deal that writers deserve.”
Dow Drops 107, Nasdaq Dips 12, S&P Slips 10
Wall Street’s worst week in six months closed Friday with more losses caused by Wall Street’s growing understanding that interest rates likely won’t come down much anytime soon.
Krishan Bhatia, a key architect of NBCUniversal’s recent forays into new kinds of advertising revenue, is leaving the company, and has informed his direct reports of his decision to exit at the end of 2023. Bhatia helped develop new revenue systems and infrastructure at NBCUniversal’s ad-sales unit, which for a time was very vocal about its efforts to strike e-commerce and data partnerships with advertisers.
Exclusives
NBCUniversal has promoted veteran executive Rick Cordella to president of NBC Sports, reporting to Mark Lazarus, chairman of NBCUniversal Media Group. Cordella, who has served in a number of leadership roles at NBCU, will now lead all aspects of NBC Sports’ brands and platforms including NBC Sports, NBC Olympics, Golf Channel, NBC Sports Digital and transactional businesses GolfNow and SportsEngine. He’ll work with NBC Local on regional sports network strategy and continue to oversee sports on streamer Peacock.
LG Ad Solutions, a global provider of connected TV (CTV) and cross-screen advertising, in partnership with CTV measurement leader TVision, released the findings of a new study that revealed CTV […]
Reports that Disney CEO Bob Iger is in talks to sell the ABC network are greatly exaggerated, according to sources — and some have a hard time seeing how a deal gets done at all. Insiders emphasize that no banker has been hired and no sales book is circulating. As for reported potential buyer Nexstar, the TV station conglomerate isn’t in a good position to pay what Disney would likely be asking for ABC, according to sources close to the situation.
Amazon Prime Video, one of the last mainstream streaming services to eschew the injection of regular commercial breaks into its movies and shows, plans to start letting them run early next year. Amazon follows a host of other streaming hubs — including Disney+, Netflix, and Warner Bros. Discovery’s Max — that also offer ad-supported tiers, a move that suggests the world of streaming may just eventually mirror the world of traditional television in the not-too-distant future.
What the Fox and News Corp. mogul’s transition to the chairman emeritus roles means for 2024 election coverage, a possible recombination of the two companies — and his son Lachlan’s reign.
LOS ANGELES (AP) — Public support for striking Hollywood actors and writers is broad, but not necessarily deep enough for most people to change their viewing habits, a new poll […]
The Writers Guildl of mericaA is heading back to the bargaining table with the CEOs of Netflix, Disney, Universal and Warner Bros Discovery on Friday. “The WGA and AMPTP met for bargaining today and will meet again tomorrow,” said the guild in a message to members after a long session Thursday night. Executives Ted Sarandos, Bob Iger, Donna Langley and David Zaslav are all anticipated to be in attendance Friday, along with AMPTP President Carol Lombardini and a praetorian guard of lawyers. On the other side, WGA chief negotiator Ellen Stutzman, along with David Goodman and Chris Keyser, will also be in the room at the AMPTP’s Sherman Oaks offices.
Dow Drops 370, Nasdaq Slides 245, S&P Falls 72
Stocks dropped in an ugly day Thursday as the allure grew to buy a Treasury bill and chill.
4 Political Takeaways From Rupert Murdoch’s Exit
Rupert Murdoch Will Never Give Up Power
Murdoch’s “departure” sounds a lot like a lost episode of Succession, with Logan Roy dramatically stepping down but not really stepping down from the chairmanship of Waystar Royco for evil genius reasons to be revealed in a future episode. The idea that Murdoch would give up power before he dies defies everything we’ve learned about him.
Even now, in his emeritus status, he will continue to offer counsel to his successor, son Lachlan Murdoch. And the elder Mr. Murdoch indicated in a statement to employees that he intended to be active in providing that counsel. But the announcement was nonetheless potentially epochal, marking at least the formal end to an active career during which the senior Murdoch built the most important and politically influential media empire on the planet. His companies, infused with a brand of right-wing populism, have amassed the power to shape, and at times make or break, presidents and prime ministers.
NAB Show New York will feature the new Broadcast Content Summit, offering customized tracks for television and radio. Produced by the National Association of Broadcasters (NAB), this exclusive conference scheduled for Thursday, […]
That total will be bolstered by political and increased auto and legal ad spending. BIA CEO Tom Buono addresses television’s share of the local advertising marketplace for key ad spending verticals.
Rupert Murdoch becomes chairman emeritus of the companies, effective in November.
The storied television network and its stations have been part of Disney for 27 years. But the company’s streaming ambitions may put the unit on the block.
A baseball writer received a strange text seeking information. It turned out to be a writer from a betting website.
The Writers Guild and studios and streamers are set to meet again Thursday for further talks on a new contract for scribes. After a long, CEO-attended session Wednesday that one insider described as “very encouraging,” the WGA and the AMPTP will return to the latter’s Sherman Oaks offices on Sept. 21, we’re told.
John Grisham (left), Jodi Picoult and George R.R. Martin (right) are among 17 authors suing OpenAI for “systematic theft on a mass scale,” the latest in a wave of legal action by writers concerned that artificial intelligence programs are using their copyrighted works without permission. (AP photo)
In 2024, Spot TV Is All About Political
Stations expect to reap $5-plus billion from political spending on linear and CTV platforms next year.
Senior executives from Fox Corp. and Fox Television Stations will share insights into how they’ve been modernizing and securing the companies’ broadcast infrastructure during a session at TVNewsCheck’s Cybersecurity for Broadcasters Retreat, set for Oct. 26 at NAB Show New York.
Dow Loses 77, Nasdaq Drops 209, S&P Falls 42
Wall Street fell Wednesday after the Federal Reserve warns rates may stay higher in 2024.
