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 (Aisha Counts/Bloomberg)

Mediagazer: 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 (Aisha Counts/Bloomberg)

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 Wrap, The Desk, 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, Advanced Television and Broadband TV News

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:
Society of Professional …, Media Guild of the West, @bcmerchant, @mattdpearce, @jeffjarvis, The Wrap, @spj_tweets, @mattdpearce, @tvgrimreaper, @bcmerchant, @ddayen, @jeffjarvis, Observer, Ars Technica, Inside Radio, LION Publishers, @passantino@threads.net, New York Times, MediaPost and Free Press

Discussion:
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]

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/...

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

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

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/...

Laurie Sullivan /
MediaPost: Google Signs Deal To Serve Digital News Content, Funding California Media

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 …

RELATED:
Politico: Google and California strike a deal to jointly contribute $125M+ over five years to support local news; the deal also includes support for an AI project

Discussion:
Raw Story, The Desk, Associated Press, The Drum, Jeff Jarvis on LinkedIn, Sarah Kay Wiley on LinkedIn, Fast Company, @jeffjarvis, New York Post, CalMatters, KQED, Whither news?, Editor and Publisher, UPI, The Verge, a14.asmdc.org, Media Nation, @gaufre, @eytanwallace, @jamesqueallylat, @davidfolkenflik, @jeffjarvis, The Information, MediaPost, Los Angeles Times and Engadget

Discussion:

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

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

Jeff Jarvis /
Jeff Jarvis on LinkedIn: Breaking news: The two protectionist bills for the news industry in California are superseded by a negotiated deal with Google (and, I hope …

Sarah Kay Wiley /
Sarah Kay Wiley on LinkedIn: Extremely disappointed but not surprised to see how Google threw its monopoly weight around to circumvent the California legislative process. …

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.

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

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

Jeff Jarvis /
Whither news?: California's Deal for News

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

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

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

Dan Kennedy /
Media Nation: California's proposed deal with Google to support local news comes under criticism @gaufre: We don't support the backroom @BuffyWicks deal. It's giving taxpayer dollars to AI startups and hedge funds. America's journalists did not sign up for that.

Eytan Wallace /
@eytanwallace: @MediaGuildWest @Steve_Glazer Statement from Gov. Gavin Newsom: “This agreement represents a major breakthrough in ensuring the survival of newsrooms and bolstering local journalism across California — leveraging substantial tech industry resources without imposing new taxes on Californians.”

Eytan Wallace /
@eytanwallace: On a ZOOM call, Matt Pearce of the @MediaGuildWest says this deal “is bad for journalists.” “I'm worried this deal actually causes harm to journalists,” he said. This is “willfully short of what Google should be providing,” said Sen. @Steve_Glazer (D-Orinda).

Eytan Wallace /
@eytanwallace: @MediaGuildWest @Steve_Glazer Glazer believes the funding in the deal is not enough to prevent mass layoffs we have seen across the local news industry.

Eytan Wallace /
@eytanwallace: @MediaGuildWest @Steve_Glazer Senate President Pro Tempore @ilike_mike (D-North Coast) expresses concerns with the deal: “We have concerns that this proposal lacks sufficient funding for newspapers and local media, and doesn't fully address the inequities facing the industry...” Full statement: [image]

Eytan Wallace /
@eytanwallace: JUST IN: Asm. @BuffyWicks (D-Oakland), Gov. @GavinNewsom, & @Google announce deal to provide nearly $250 million in public and private funding to newsrooms over the next 5 years. Supporters say this will provide ongoing financial support to newsrooms across CA & invest in AI.

James Queally /
@jamesqueallylat: This is not a deal. It's capitulation. Any legislator who campaigns off this later saying they tried to save local journalism is lying to you.

David Folkenflik /
@davidfolkenflik: Some journos do not love this Google deal

@jeffjarvis:
Breaking news: The two protectionist bills for the news industry in California are superseded by a negotiated deal with Google (and, I hope, more tech companies), creating a fund, which is what I advocated in my testimony. in Sacramento. https://a14.asmdc.org/...

Laurel Rosenhall /
Los Angeles Times: Deal reached in feud between California news outlets and Google: $250 million to support journalism but no new law

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 …

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

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:

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.

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

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.

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

The New York Times Company:

The NYT hires Vox Media exec Amanda Kludt, who built up Eater, as senior editor overseeing Projects and Initiatives, working across the newsroom and company— Amanda Kludt joins The Times next month to oversee an innovative team that works across the newsroom and the company.

Discussion:
@nytimespr and @edmundlee@threads.net

Discussion:
@nytimespr: We're thrilled to announce that @kludt is joining The Times as senior editor overseeing Projects and Initiatives. https://www.nytco.com/...