Dow Climbs 177, Nasdaq Jumps 193, S&P Rises 53

Wall Street rose Monday to add to last week’s gains. Tech stocks were at the forefront, with familiar ringleaders Nvidia and Super Micro Computer again pulling the market higher.

Hearst Television Elevates Nick Radziul To Executive Vice President

Radziul adds oversight of a portion of the company’s portfolio of stations, joining Executive Vice Presidents Ashley Gold and Eric Meyrowitz, and Vice President, New England, Kyle Grimes, managing operations of the group.  He will continue to supervise the company’s government affairs and its distribution relationships.

Kirsten Donaldson Joins NAB As VP Of Public Policy

Reporting to Shawn Donilon, she will provide strategic public policy counsel to assist NAB in developing policy positions and formulating advocacy strategies to address critical issues affecting the broadcast industry.


Survey: Amazon’s Push Into Ad-Supported Streaming Is Working

85% of Amazon’s Prime Video subs are now in the ad-supported tier, more than any other streaming service, according to Hub’s quarterly TV Churn Tracker.

Warner Bros. Animation GM Ed Adams To Retire; Matt Matzkin To Take On Animated Duties

NBCU Strikes First-Party Data Deal With Instacart

Looking to ramp up performance-based advertising efforts for better business outcomes, NBCUniversal has started a new retail media partnership with Instacart to help consumer packaged goods advertisers with their campaigns. The grocery-delivery company will look to provide new first-party purchase data from CPG brands connected to advertising exposure on NBCUniversal’s streaming content in order to measure the impact of brand campaigns.

Owner Of WADL Detroit Urges Mission To Close Station Purchase

The owner of Detroit station WADL is urging Mission Broadcasting to close its $75 million acquisition of WADL before a June 30 deadline. In an earlier interview, Adell Broadcasting CEO Kevin Adell suggested that a local marketing agreement would enable Mission to operate WADL while appealing conditions put on the sale by the FCC. But Adell now says an LMA is off the table. The FCC approved the agreement to transfer WADL’s license to Mission, but attached significant conditions to the approval.

WPIX News Van Hits Three Pedestrians In New Jersey

Buffett Says Berkshire Sold Its Entire Paramount Stake: ‘We Lost Quite A Bit Of Money’

Google Users Battle Company Over Analytics Data

A group of Google users who are suing the company over alleged privacy violations are now battling with it over a key issue in the case — whether the company adequately disclosed how it collects analytics data. The legal fight, which dates to 2000, focuses on Google Analytics for Firebase — a tool that can collect data about smartphone users’ app usage.


Are The Broadcast Networks Killing Their Affiliates?

Programming fees have become so onerous as to threaten the future viability of affiliates. Networks need to remember: If stations go under, they take the network owners with them.

Video: How Station Groups Are Thinking About A Post-Network Future

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Paramount Will Negotiate With Sony & Apollo But Continue Skydance Talks

A special committee of the Paramount Global board decided at a meeting Saturday to begin talking with Sony and Apollo following the expiration of a month-long negotiating window with Skydance on Friday night.The committee met over the weekend to consider its approach to the preliminary $26 billion cash bid, including the assumption of debt, made jointly by the entertainment giant and global private equity film. But the David Ellison studio is still in the mix as Paramount seeks to continue those talks – just non-exclusively.


New Jobs Posted To TVNewsCheck

New jobs posted to TVNewsCheck’s Media Job Center include an opening for a director of student media and a national operations director. Existing openings include a digital platform specialist, an account executive and a sales director.

Paramount Names Chris McCarthy ‘Interim Principal Executive’ For SEC Purposes

Paramount Global says Chris McMarthy is the company’s “interim principal executive officer,” a necessity required by the SEC that apparently does not signal he has more decision-making power among a trio of top executives who stepped up to replace Bob Bakish this week in a new Office of the CEO. Security & Exchange Commission rules require a person, not an office, to conduct with over the normal course of business. It’s not clear why McCarthy, president and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks, received the designation as opposed to George Cheeks or Brian Roberts.



Dow Climbs 450, Nasdaq Gains 315, S&P Adds 64

Wall Street rallied Friday after hiring showed welcome signs of cooling.

Skydance’s Proposed Deal With Paramount Global Appears To Be Falling Apart

After months of M&A talks, Paramount Global and controlling shareholder Shari Redstone might be going it alone after all. Insiders tell Variety that the expectation at the company is that neither of the two offers in play — Skydance Media-RedBird Capital Partners and Sony Pictures Entertainment-Apollo Global Management — will come to fruition. And Redstone is said to have reluctantly concluded that a deal with David Ellison’s Skydance, a longtime partner of Paramount Pictures, will not be possible.

FuboTV Drops To 1.51M North American Subscribers In Q1

The sports streaming platform FuboTV — which is battling to stop a rival Disney, Warners and Fox sports streaming joint venture in the works — reported it ended the first quarter with 1.51 million paid subscribers in North America, down from 1.61 million at the end of the fourth quarter of 2023.

Publicis Won’t Use Nielsen’s Big Data As Currency In This Upfront

Giant media buyer Publicis is telling network sales executives that it does not think Nielsen’s new panel-plus-big-data currency is ready for this upfront. Publicis will stick with Nielsen, using the measurement company’s traditional panel-based ratings. The media buyer is eager to use Nielsen’s big data product when it meets its standards, according to people involved in preliminary upfront discussions.

Broadcast Executive Kathleen Keefe Dies At 68

Kathleen Keefe, 68, former broadcast executive died in Roxbury, Conn., on May 1. She served as the VP of sales for both Hearst Television and Post-Newsweek Stations. She was the […]

Innovid Joins Ad Net Zero To Accelerate Climate & Sustainability Goals

Innovid, a software platform for the creation, delivery, measurement and optimization of advertising across connected TV (CTV), linear TV and digital, has joined Ad Net Zero, a trade association focused exclusively […]

A+E Networks Names David Bank CFO

Media CEO Pay Mostly Up For 2023 Amid Strikes, Industry Contraction

It was a year of pain for the entertainment industry and shareholders of (many) media companies with months-long Hollywood strikes and layoffs. Linear television continued to decline and a nascent theatrical recovery went sideways. However, most CEOs saw pay packages rise in 2023, some by big multiples.

CBS CEO George Cheeks On Long-Term Paramount Plans, Morale: ‘It’s A Challenging Time Right Now’

Just days after Bob Bakish left Paramount Global as CEO, CBS President-CEO George Cheeks — one-third of the newly formed “Office of the CEO” that will now jointly run the company — spoke to reporters about what to expect moving forward. And so far, there’s not much he can say.

Byron Allen’s Media Company To Undergo Layoffs

Allen Media Group, the owner of the linear TV Weather Channel, will cut employees across the company. “Allen Media Group is making strategic changes to better position the company for growth that will result in expense and workforce reductions across all divisions of the company,” a rep for Allen Media said on Thursday. No details on the size of the workforce reduction were disclosed.

Study: Streaming Market Is Saturated But Subscriptions Continue To Grow

Kantar has released a new study showing the U.S. streaming market has hit a saturation point, with the household penetration rate stagnating and at near universal levels. Streaming services were available in 95% of, or 123 million, U.S. households, growing only 0.1% quarter-on-quarter, according to Kantar’s latest Entertainment on Demand (EoD) data on the US streaming market from January to March 2024. The study found, however, that the average number of paid services accessed per household continues to rise, with U.S. households now subscribing to 3.9 paid services on average.


Entravision Pushes Ahead In Q1 As Meta Deadline Looms

Despite an impending challenge from Meta’s end to its Authorized Sales Partner program, Entravision Communications reported a strong financial performance for the first quarter of 2024. With net revenue rising 16% to $277.45 million, the company finished ahead of analyst expectations, but Entravision faced rising costs across the board, including a significant $49.44 million impairment charge. These escalated expenses contributed to a net loss of $48.89 million for the quarter, a stark contrast to the net income of $2.04 million reported in Q1 2023.


Apple’s Solid Quarter, Buoyed By Services, Gives Stock A Needed Bump

Apple‘s fiscal Q2 numbers beat Wall Street estimates on the top and bottom line in a market that was waiting for them with some trepidation — mainly news of iPhone sales in China. The dip there was less than anticipated. The stock is up more than 7% in after-hours trading. Apple shares had a huge 2023 but the stock has been nearly alone among the so-called Magnificent Seven tech stocks to lose ground so far in 2024.


Dow Climbs 322, Nasdaq Jumps 235, S&P Rises 46

Wall Street climbed Thursday to trim its loss for the week. Earnings reports from several big companies helped drive the market higher.

Spotify Spotlights Its Digital Video Ad Offerings At Its First NewFronts Event

From a studio space in Chelsea, Spotify hosted its first-ever NewFronts event on Wednesday. Discussing a steep rise in consumers’ video consumption, Spotify’s Head of Sales Ann Piper and Global Creative Director Kay Hsu highlighted new advertising opportunities in digital video on the platform. Spotify is focused on becoming a more “immersive” platform. It has already tackled “utility” and “curation” in previous years, according to the presentation with slides by Hsu.