Source: Penske Media has laid off dozens of staff over the last several weeks; Penske says it's grown its total headcount in 2022, 2023, and 2024 (Oliver Darcy/Status)

Mediagazer: Source: Penske Media has laid off dozens of staff over the last several weeks; Penske says it's grown its total headcount in 2022, 2023, and 2024 (Oliver Darcy/Status)

Top News:

Wall Street Journal:

Sources: WBD has started working on creating more original programming for TNT and rebooting series and made-for-TV movies, albeit with smaller budgets— Entertainment company is plotting ‘high-adrenaline’ dramas for a cable channel that has become closely associated with reruns
Discussion: Screen Rant, The Wrap, TVLine, Variety, @tvgrimreaper and Deadline

Discussion:

Lucas Manfredi /
The Wrap: WBD Ramps Up TNT Investment With ‘The Librarians: The Next Chapter,’ CIA Miniseries

Matt Webb Mitovich /
TVLine: TNT Grabs Librarians Sequel Series From The CW as Part of Plan to Replenish Drama Slate

Joe Otterson /
Variety: ‘Librarians: The Next Chapter’ Moves to TNT From CW @tvgrimreaper: They're just thrashing about with no logical strategy. Adding some cheap dramas isn't going to help with carriage fee negotiations. Why bother?

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/... …

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:

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

Sabrina Quagliozzi /
The Media Leader: Skydance accuses Paramount of breach of contract

Ian Whittaker /
Ian Whittaker on LinkedIn: I wouldn't go so far as to equate the struggle for control over Paramount as two bald men fighting over a comb - the asset has perhaps more strengths …

Eva Davis /
Eva Davis on LinkedIn: More M&A entertainment from two entertainment giants — this time involving the “Go Shop.” In July 2024, Skydance Media and Paramount Global announced …

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

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

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

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

Discussion:

Mimansa /
MEDIANAMA: Google Agrees to $250M ‘Local Journalism Supporting’ Partnership in California Amidst Protest from Journalist Unions

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!

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.

@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/... @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] Society of Professional Journalists: $175M California journalism agreement sparks debate on industry impact and inclusivity

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

Benjamin Lindsay /
The Wrap: Google's $250 Million Deal for California Newsrooms Should Pilot How to ‘Bolster Local Journalism,’ SPJ Says

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

@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.

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

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/...

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

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

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 …

Bloomberg:

A look at Apple Podcasts' fading dominance, as an April 2024 study of 603 podcast consumers found 31% use YouTube, 21% use Spotify, and 12% use Apple's app— Hello! Welcome back to Soundbite. Today we're looking at the fading dominance of Apple Podcasts.

Discussion:
Cult of Mac, Slate, 9to5Mac and MacRumors, more at Techmeme »

Discussion:

Lizzie O'Leary /
Slate: Crypto Courts the 2024 Vote

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

Tim Hardwick /
MacRumors: Apple Podcasts Losing Market Share to YouTube and Spotify

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

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. …

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]

Status:

Source: Penske Media has laid off dozens of staff over the last several weeks; Penske says it's grown its total headcount in 2022, 2023, and 2024— The layoffs at Penske's media empire comes as his company faces tough headwinds, many of them industry wide.

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, Motorsport Week, Motorsport.com and PlanetF1

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

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

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

Bloomberg:

Reddit is winning over advertisers using interest-based targeting via subreddits, instead of personal data; analysis: Reddit's ad revenue may pass $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

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

Discussion:

Mansha Daswani /
WORLD SCREEN: WARC: Global Adspend To Top $1 Trillion

Adam Jacobson /