Liberty Media announces plans to sell F1 shares worth $825M to partially fund its 86% stake in Dorna Sports, the MotoGP commercial rights holder valued at $4.2B (Colin Mann/Advanced Television)

Mediagazer: Liberty Media announces plans to sell F1 shares worth $825M to partially fund its 86% stake in Dorna Sports, the MotoGP commercial rights holder valued at $4.2B (Colin Mann/Advanced Television)

Top News:

Wall Street Journal:

In a letter, Skydance lawyers accuse Paramount's special committee of breaching its terms with Skydance by extending the time it can talk with other bidders— In a letter from its lawyers, Skydance accuses Paramount's committee of directors of violating the terms of its deal
Discussion: Variety, Deadline, The Desk, The Wrap, Media Play News, TVNewsCheck, TrekMovie.com and The Verge

Discussion:

Todd Spangler /
Variety: Skydance Accuses Paramount of Violating Deal Agreement by Negotiating With Edgar Bronfman Jr.: Report

Lucas Manfredi /
The Wrap: Skydance Calls on Paramount to Stop Negotiating With Edgar Bronfman Jr., Accuses Special Committee of Violating Merger Agreement

Erik Gruenwedel /
Media Play News: Skydance Media Cries Foul as Paramount Global Extends Bidding Window to Edgar Bronfman Jr.

Anthony Pascale /
TrekMovie.com: Paramount Extends Skydance Merger Deal Date To Consider Competing Bid [UPDATED: Skydance Responds]

RELATED:
New York Times: Sources: Paramount extends its deadline for sales talks until early September to evaluate Edgar Bronfman Jr.'s new bid, which could shake up the Skydance deal

Discussion:
Reuters, Axios, The Special Committee …, The Media Leader, Business Insider, CNBC, The Desk, Los Angeles Times and Advanced Television

Discussion:
The Special Committee of the Board …: PARAMOUNT GLOBAL'S SPECIAL COMMITTEE ANNOUNCES RECEIPT OF ACQUISITION PROPOSAL AND 15-DAY EXTENSION OF “GO SHOP” PERIOD TO CONTINUE ENGAGEMENT

Sabrina Quagliozzi /
The Media Leader: Bronfman sweetens bid for National Amusements, Paramount Stake

Matthew Keys /
The Desk: Bronfman raises bid for Paramount, now offers $6 billion

Wall Street Journal:
Sources: Edgar Bronfman Jr. raises his Paramount bid to $6B, adding $1.7B to let non-Redstone, nonvoting Paramount shareholders cash out at $16 a share

Discussion:

David Satin /
The Streamable: Bronfman Ups Bid for Paramount to $6 Billion as Company Extends ‘Go-Shop’ Period

Bethy Squires /
Vulture: Edgar Bronfman Jr. and His $6 Billion Bet on Paramount

Sahil Patel /
The Information: Paramount Receives New Bid From Edgar Bronfman Jr., Extends ‘Go-Shop’ Period

Aimee Picchi /
CBS News: Paramount extends its Skydance go-shop period to consider acquisition bid from Edgar Bronfman

Ben Kesslen /
Quartz: Edgar Bronfman Jr. upped his Paramount bid to $6 billion, extending negotiations

Todd Spangler /
Variety: Edgar Bronfman Jr. Boosts Paramount Bid to $6 Billion, Board Extends Deal-Negotiation Period

Jessica Toonkel /
Jessica Toonkel on LinkedIn: Things are getting interesting in Paramount land. Edgar Bronfman Jr ups his offer, including a tender offer to nonvoting shareholders. …

Rick Howe /
Rick Howe on LinkedIn: As I said yesterday, This feels like a #BreakUp Strategy. Certainly Skydance would have discarded some non-strategic assets. But methinks …

Erik Gruenwedel /
Media Play News: Paramount Extends Acquisition Bid Window 15 Days as Bronfman Ups Offer to $6 Billion

Lucas Manfredi /
The Wrap: Paramount Extends Negotiating Window As Edgar Bronfman Jr. Raises Bid to $6 Billion Deadline: Paramount Merger Saga Continues: Go-Shop Period Extended As Edgar Bronfman Vies With Skydance, Boosts His Offer To $6B

Jill Goldsmith /
Deadline: Edgar Bronfman Jr. Sweetens Bid For Paramount To $6 Billion

The Verge:

Q&A with Ben Collins, CEO of The Onion, and Danielle Strle, chief product officer, on how they bought the outlet, why they're making a print version, and more— The new owners of the satire site rescued it from content farm hell. Now, they're relaunching its newspaper.

Discussion:
@mvario@mastodon.social: The Onion's new owners on escaping content farm hell and relaunching a newspaper - The Verge — https://www.theverge.com/... #TheOnion — [image]

Jordan LaFlure /
Jordan LaFlure on LinkedIn: We were so close. After decades of R&D, testing, and optimizing, The Onion was just another 3 to 5 years away from debuting an infinitely long slideshow …

Christina Child /
Christina Child on LinkedIn: “We moved on to WordPress. We looked at other platforms, of course. But yeah, moving fast, here we are. It's a WordPress world.” — No fake news here. … @verge@mastodon.social: How The Onion is saving itself from the digital media death spiral https://www.theverge.com/... @hack13@cyberfurz.social: This is a great episode hearing about people coming together to keep a publication online even if it is a fake news publication. Just to keep The Onion around. — Decoder with Nilay Patel: How The Onion is saving itself from the digital media death spiral — Episode webpage: https://www.theverge.com/... …

CNN:

Unions and some state senators criticize Google's plan for a California local news fund, which stalled bills that would have forced Big Tech to fund journalists— New York CNN — — Google struck a first-in-the-nation deal with California lawmakers on Wednesday to fund newsrooms …

Discussion:
MEDIANAMA, Raw Story, Society of Professional …, @bcmerchant, @mattdpearce, @jeffjarvis, The Wrap, @spj_tweets, @mattdpearce, The Desk, Associated Press, @tvgrimreaper, @bcmerchant, @ddayen, @jeffjarvis, The Drum, Media Guild of the West, Observer, Ars Technica, Fast Company, @jeffjarvis, Inside Radio, LION Publishers, New York Post, The Verge, CalMatters, @passantino@threads.net, a14.asmdc.org, KQED, Editor and Publisher, UPI, Media Nation, New York Times, The Information, MediaPost, Engadget, Free Press and Politico

Discussion:

Mimansa /
MEDIANAMA: Google Agrees to $250M Partnership in California, Raising Concerns Among Journalist Unions Society of Professional Journalists: $175M California journalism agreement sparks debate on industry impact and inclusivity

Brian Merchant /
@bcmerchant: @jeffjarvis That hedge fund line is right out of Google's opposition PR materials—it distorts the issue at hand, as I think you know it does. Most CA papers are not owned by hedge funds, and no one was happy about sending the money to those that were, which was why safeguards were built in

Matt Pearce /
@mattdpearce: THIS DEAL INVOLVES AUTOMATIC PAYMENTS OF TAXPAYER DOLLARS TO HEDGE FUNDS AND NO ONE KNOWS THAT BECAUSE THE TERMS ARE SECRET our guild is on that board and will be very, very lonely @jeffjarvis: @bcmerchant We have a similar structure in NJ and it is working well because it does not automatically hand money out to hedge-funds but instead operates on goals and merit. Maybe give it a chance.

Benjamin Lindsay /
The Wrap: Google's $250 Million Deal for California Newsrooms Should Pilot How to ‘Bolster Local Journalism,’ SPJ Says @spj_tweets: SPJ calls on California decision-makers to ensure that yesterday's agreement between California lawmakers and Google serves as a genuine step forward in reversing our nation's alarming decline in newsroom employment. Read our full statement: https://www.spj.org/... [image]

Matthew Keys /
The Desk: Google's plan to fund California newsrooms draws scorn from journalism groups

Brian Merchant /
@bcmerchant: @jeffjarvis It's profoundly undemocratic—the two bills passed with supermajority, bipartisan votes. I just spent an hour on a call with devastated journalists from diverse newsrooms. The man set to chair the UCB board isn't answering Qs. Newsguild and working CA journalists oppose this bill!

@jeffjarvis:
I just put up a post about California's deal for news with more information I have learned about the structure of it. Nobody's 100% pleased but this is a step in a better direction. (Gift link but remember I always crosspost at Buzzmachine.) https://medium.com/...

Webb Wright /
The Drum: Google agrees to pay up to $130m to support California news publishers & AI innovation

Alexandra Tremayne-Pengelly /
Observer: Google Agrees to Shell Out $250M to Support Journalism—But Not Everyone Is Thrilled

Jon Brodkin /
Ars Technica: Google avoids “link tax” bill with deal to fund California journalism and AI

Chris Morris /
Fast Company: Will Google's $250 million deal with California really help journalism?

@jeffjarvis:
I am proud to have been involved in this process, testifying in Sacramento, talking with legislators and aides, and researching a paper on the bills that proposed a solution such as this. A fund is preferable for it involves goals and accountability.

Hayley Milloy /
LION Publishers: Scaling sustainability: How Knight Foundation's investment strategy uplifts the entire local news ecosystem

Thomas Barrabi /
New York Post: California, Google's paltry $250M million deal to fund newsroom blasted as ‘disastrous’ by critics

Jess Weatherbed /
The Verge: Google reaches a $250 million deal to skirt proposed journalism bill

Jeanne Kuang /
CalMatters: California tried to make Google pay news outlets. The company cut a deal that includes funding AI

Jon Passantino /
@passantino@threads.net: Google agrees to first-in-the-nation deal to fund California newsrooms, but journalists are calling it a disaster. ""The Legislature embarked on an effort to regulate monopolies and failed terribly. Now we question whether the state has done more harm than good." https://www.cnn.com/...

Erin Ivie /
a14.asmdc.org: Assemblymember Wicks secures agreement with State, major tech companies to support the work of California journalists

Diane Sylvester /
Editor and Publisher: Google avoids content payment mandates in California with surprise media partnership deal

Dan Kennedy /
Media Nation: California's proposed deal with Google to support local news comes under criticism

Amy Kroin /
Free Press: Closed-Door Deal Between Google, Gov. Newsom and State Lawmakers Sells Californians and Local News Short Amy Kroin August 21, 2024 …

CNBC:

In a pitch deck, AI search engine Perplexity told advertisers it plans to start running ads in Q4; a source says Perplexity's CPM prices will be $50+— Perplexity AI, the artificial intelligence startup that's been embroiled in controversy due to accusations of plagiarizing content from media outlets …

Discussion:

Hayden Field /
@haydenfield: Scoop: Perplexity AI plans to start running ads on its search app in Q4, CNBC has learned. The company, which focuses on AI-assisted search & in April doubled its valuation to $1 billion, is circulating a pitch deck, promoting its reach & increasing usage.https://www.cnbc.com/... @researchbuzz@researchbuzz.masto.host: Dear Perplexity, — A business plan of “Hope our customers are too stupid to notice our goony CPM” isn't viable. — 'With advertising, Perplexity will follow a model called CPM, or cost per thousand impressions, according to a person familiar with the matter who asked not to be named because the details are not public. …

Hayden Field /
TVNewsCheck: Perplexity AI To Start Running Ads In Q4 As AI-Assisted Search Gains Popularity

Trishla Ostwal /
Adweek: Inside the Deck Perplexity Is Using to Pitch Advertisers @vortexegg.regretfully.online: Ahh, so the business model is running ads on media scraped from other websites. Classic bit. [embedded post]

Hayden Field /
Hayden Field on LinkedIn: Perplexity AI, the AI startup that's been embroiled in controversy due to accusations of plagiarizing content from media outlets …

Advanced Television:

Liberty Media announces plans to sell F1 shares worth $825M to partially fund its 86% stake in Dorna Sports, the MotoGP commercial rights holder valued at $4.2B— Liberty Media has revealed plans to sell F1 shares worth $825 million (€742m) in order to ‘partially fund’ its planned acquisition of MotoGP.

Discussion:
Sports Illustrated, PlanetF1, Motorsport Week and Motorsport.com

Discussion:

Saajan Jogia /
Sports Illustrated: Liberty Media Ready To Sell $825 Million In F1 Stakes To Raise A Whopping $4.2 Billion For MotoGP Purchase

Elizabeth Blackstock /
PlanetF1: Liberty Media announce huge $825m F1 stake sale to fund $4.2bn MotoGP takeover

Mark Mann-Bryans /
Motorsport.com: Liberty announces $825mn F1 stake sale to fund MotoGP takeover

Bloomberg:

A look at the fading dominance of Apple Podcasts, as a study of 603 weekly podcast consumers finds 31% use YouTube, followed by Spotify at 21%, and Apple at 12%— Hello! Welcome back to Soundbite. Today we're looking at the fading dominance of Apple Podcasts.

Discussion:
9to5Mac, more at Techmeme »

Discussion:

Ben Lovejoy /
9to5Mac: Apple Podcasts app no longer #1, has dropped to #3

Columbia Journalism Review:

Star Spangled Media, behind websites posing as news outlets, such as The Morning Mirror, appears to have close ties to pro-Democratic super PAC Forward Majority— A quasi-local news site whose operators sought a news media exception to dodge campaign finance regulators has emerged as a vehicle …

Discussion:
Sinclair Cornell on LinkedIn

Bloomberg:

Reddit is winning over advertisers with interest-based targeting via subreddits, instead of personal data; analysis: Reddit's ad revenue to reach $1.1B+ in 2024— Without as much personal information, Reddit lures marketers by touting interests and conversations

The Hollywood Reporter:

Study: women accounted for 23% of creators working on original programs on TV and streaming in the US in 2023-24, down from 26% in 2022-23 and 30% in 2021-22— The latest “Boxed In” report, now in its 27th year, offers grim findings for female representation across broadcast and streaming.

The Media Leader:

WARC: global ad spending will grow by 10.5% to $1.07T in 2024; Alphabet, Amazon, and Meta will account for 43.6% of global ad spending in 2024 and 46% by 2026— Global adspend will grow by 10.5% to $1.07tn this year, crossing the $1tn mark for the first time, according to Warc's Global Ad Spend Outlook 2024/25.

Discussion:
Inside Radio, Media Makers Meet, Radio & Television … and Advanced Television

Discussion:

Adam Jacobson /
Radio & Television Business Report: Political Powers U.S. Ad Spending For 2024, New WARC Report Reveals

Advanced Television:

Survey: 66% of US TV viewers use FAST platforms, 53% of them have cut down on paid streaming, and 43% signed up to a pay service to continue watching a show— Two in three (66 per cent) TV viewers in the US are using free, ad-supported streaming TV (FAST) platforms in a typical month …

Committee to Protect Journalists:

In Nigeria, Kenya, and Senegal, journalists have been targeted, assaulted, and detained by security forces as they covered anti-government protests— “He hit me with a gun butt,” Premium Times newspaper reporter Yakubu Mohammed told the Committee to Protect Journalists …

Discussion:
Freedom of the Press …, Voice of America, The Intercept and Reporters Without Borders

Discussion:
The Intercept: “I Was Pulled Off of the Sidewalk”: At Least 3 Journalists Arrested Covering DNC Protests