Tortoise says it plans to invest £25M in Observer over five years, aiming to turn it into a self-funded, paywalled newsbrand with 100K new digital subscribers (Dominic Ponsford/Press Gazette)

Mediagazer: Tortoise says it plans to invest £25M in Observer over five years, aiming to turn it into a self-funded, paywalled newsbrand with 100K new digital subscribers (Dominic Ponsford/Press Gazette)

Top News:

CNBC:

Comcast confirms plans to spin off its NBCUniversal cable TV networks, including MSNBC and CNBC, with Mark Lazarus as CEO; the separation may take about a year— Comcast is moving forward with the spinoff of its cable network channels, including CNBC, MSNBC and E!, the company said Wednesday.
Discussion: Comcast, New York Times, Fast Company, Business Insider, Axios, CNN, TechCrunch, The Guardian, Bloomberg, The Desk, Mediaite, Fox Business, Breitbart, USA Today, Total Telecom, TVNewsCheck, Variety, Washington Examiner, @jbflint, @sherman4949, Engadget, Talking Biz News, HuffPost, HotAir, NBC News, The Verge, Stephani Shelton on LinkedIn, Media Play News, @stark.soy, @sherman4949, @great_katzby, @benmullin, Financial Times, @mediaite, @jeffjarvis, Benzinga, Fortune, Cord Cutters News, @sarafischer, Barron's Online, Newser, @brianstelter, @sherman4949, @colbyhall, @joshuabenton.com, @benmullin, @brianstelter, The Hollywood Reporter, Yahoo Finance, The Information, @amolsharma.bsky.social, NBC News, Media Play News, Los Angeles Times, The Wrap, Variety, Ad Age, CNN, Awful Announcing, Cord Cutters News, Deadline, Business Insider and Wall Street Journal

Discussion:
Comcast: Comcast Announces Intention to Create Leading Independent Media Business Through Spin-Off of Select Cable Television Networks

Benjamin Mullin /
New York Times: Comcast to Spin Off Cable Networks, Including MSNBC and CNBC

Tracy Brown Hamilton /
Fast Company: Comcast unveils SpinCo as a stand-alone media powerhouse Business Insider: CNBC anchors and insiders worry about their futures as Comcast looks to unload the network

Sara Fischer /
Axios: Comcast plans to spin off NBCU's cable channels

Brian Stelter /
CNN: Comcast's cable networks spinoff raises questions about future of the TV business

Lauren Forristal /
TechCrunch: Comcast spins off its cable channels into separate company as it looks for growth

Callum Jones /
The Guardian: Comcast to spin off portfolio of cable networks including MSNBC and CNBC

Christopher Palmeri /
Bloomberg: Comcast to Spin Off Cable-TV Channels Like MSNBC, USA

Matthew Keys /
The Desk: Comcast confirms it will spin off cable networks, Fandango

Zachary Leeman /
Mediaite: Comcast To Spin Off Cable Channels Including MSNBC, CNBC, More

Harry Baldock /
Total Telecom: Comcast to spin off raft of cable TV channels

Jill Goldsmith /
TVNewsCheck: It's Official: Comcast To Spin Off Cable Networks

Todd Spangler /
Variety: Comcast Announces Spin-Off of Most Cable Networks Into New Company to ‘Set These Businesses Up for Future Growth,’ CEO Brian Roberts Says

Asher Notheis /
Washington Examiner: Comcast moving forward with spinoff from MSNBC and other cable channels

Joe Flint /
@jbflint: So will CNBC be rebranded as “C.?”

Alex Sherman /
@sherman4949: Comcast now down 0.2% on the day. Call it back!

Kris Holt /
Engadget: Comcast is spinning out Rotten Tomatoes and cable networks into a separate company

Chris Roush /
Talking Biz News: CNBC is part of Comcast spinoff company

Marita Vlachou /
HuffPost: Comcast Spins Off MSNBC, Other Cable TV Networks

Daniel Arkin /
NBC News: Comcast announces plan to spin off cable channels, including MSNBC, CNBC and USA

Jess Weatherbed /
The Verge: Comcast is spinning off its cable TV business

Stephani Shelton /
Stephani Shelton on LinkedIn: This is big and potentially bad news for journalists and journalism. NBC itself won't be included so how about the news synergy between all the networks? …

Erik Gruenwedel /
Media Play News: Comcast to Launch Separate ‘SpinCo’ Company With Select Cable TV Assets, Fandango Movie Ticket and TVOD Platform

Alex Sherman /
@sherman4949: Comcast makes it official: Comcast Corporation (NASDAQ: CMCSA) today announced its intent to create a new publicly traded company comprised of a strong portfolio of NBCUniversal's cable television networks,

Brandon Katz /
@great_katzby: -Short-term pain of sacrificing bulk of cable cash flow (minus Bravo) for long term growth emphasis/investor confidence narrative -Redirect resources to ongoing theme park expansion and streaming -Keep Donna Langley happy in-house as Disney sniffs around for a CEO successor

Ben Mullin /
@benmullin: KC Sullivan, CNBC's president, tells staffers the network will immediately begin reporting in to Mark Lazarus, who will run the new spin co: [image] @mediaite: ‘We Could Be Fired Tomorrow!’ Morning Joe Awkwardly Jokes About Comcast Selling Off MSNBC https://www.mediaite.com/... @jeffjarvis: Stopped by #BrokenMorningJoe & saw them trying to put a bright face on this. No. Cable has cooties & Comcast doesn't want any on them. Cable is the new magazine & newspaper: Dying. Bye. Comcast Greenlights $7 Billion Spinoff of NBCUniversal Cable Channels https://www.wsj.com/...

Kaustubh Bagalkote /
Benzinga: Comcast Plans Major Cable Networks Spinoff, MSNBC And CNBC To Form New Public Company: Report

Andrew Nusca /
Fortune: Comcast to spin off NBCU cable TV channels

Luke Bouma /
Cord Cutters News: Comcast Officially Spins Off MSNBC, USA Network, & Other Cable Networks into a New Company

Sara Fischer /
@sarafischer: #BREAKING @comcast makes it official, announces plans to spin off @NBCUniversal cable channels into separate, publicly traded company — LEADERSHIP/NAME: Mark Lazarus and Anand Kini to lead the new company, for now called “SpinCo” — TIMING: Comcast is targeting to complete the [image]

George Glover /
Barron's Online: Comcast Stock Rises. Why a Cable TV Spinoff Plan Is Good News for Investors.

Jenn Gidman /
Newser: Comcast Offloading the Likes of MSNBC, CNBC

Brian Stelter /
@brianstelter: Comcast just jump-started a new season of major change across the TV industry. And no one quite knows what will happen next. Here is Wednesday morning's edition of @ReliableSources: https://view.newsletters.cnn.com/ ...

Alex Sherman /
@sherman4949: including USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel along with complementary digital assets including Fandango and Rotten Tomatoes, GolfNow and Sports Engine, through a tax-free spin-off.

Colby Hall /
@colbyhall: SpinCo? Delighted to see that my old employer SPIN magazine is making a MAJOR play to get back in the game.

Joshua Benton /
@joshuabenton.com: I remember in the late aughts, when media conglomerates did all they could to spinoff their newspapers so they'd no longer be a drag on the TV businesses. — Now, they're spinning off their TV businesses so they'll no longer be a drag on their local broadband monopolies. — www.cnbc.com/2024/11/19/c...

Ben Mullin /
@benmullin: Comcast just announced it is spinning if its cable networks, including MSNBC and CNBC, into a new company: https://www.nytimes.com/...

Brian Stelter /
@brianstelter: Here's the Comcast press release: “Comcast announces intention to create leading independent media business through spin-off of select cable television networks” https://www.businesswire.com/ ...

Laura Bratton /
Yahoo Finance: Comcast announces plan to spin off TV networks including MSNBC, CNBC to play ‘offense’ in new media landscape

Amol Sharma /
@amolsharma.bsky.social: For people unfamiliar with deal mumbo jumbo: Comcast's existing shareholders will own this cable firm that gets spun off. It isn't being sold to someone else — yet — but over time, investors or potential buyers could approach the new company. [embedded post] NBC News: Comcast to announce the spinoff of cable networks, including MSNBC, CNBC and USA, sources say

Erik Gruenwedel /
Media Play News: Comcast Reportedly Set to Spin-Off $7 Billion Cable TV Business; Matt Strauss to Become Chairman of NBCUniversal Media Group

Brian Steinberg /
Variety: Comcast Plans Massive Cable Spin-Off, Separating USA, MSNBC and More From NBC, Theme Parks

Brian Stelter /
CNN: Comcast to spin off its cable channels, including MSNBC and CNBC, into separate company

Luke Bouma /
Cord Cutters News: Comcast Reportedly Plans to Get Rid of MSNBC, CNBC, USA & SyFy As It Spins Off Its Cable TV Channels Deadline: NBCUniversal Split: Comcast To Spin Off Cable Channels Under Mark Lazarus; Donna Langley Consolidates Power, NBC, Peacock & Bravo Stay Put

Amol Sharma /
Wall Street Journal: Sources: Comcast plans to announce Wednesday that it will be spinning off its NBCUniversal cable TV networks including MSNBC and CNBC, with Mark Lazarus as CEO

RELATED:

Variety:

Sources: Comcast execs told staff that MSNBC may have to change its identity as part of the spinoff, including losing access to NBC News' newsgathering process— MSNBC fans who are disappointed in the progressive-leaning network after Donald Trump's victory in the 2024 election may no longer have it to kick around.

Discussion:
Adweek, @tomgara@threads.net, @bristei, @maxwelltani and Deadline

Discussion:

Tom Gara /
@tomgara@threads.net: I know this is pretty standard placeholder naming language used in these kind of spinoff transactions but making MSNBC a unit of the Spin Company is an incredible act of corporate comedy

Brian Steinberg /
@bristei: MSNBC Faces Potential for Big Changes in Comcast Cable Spin-Off https://variety.com/... via @variety

Max Tani /
@maxwelltani: MSNBC may have to change its name as part of today's spinoff, which will also likely impact (and limit) its newsgathering. The spinco's top exec says the company is thinking of itself as a “well-funded startup”....😬 [image]

Semafor:

Sources: under current plans, Comcast's new spun off entity would carry little of its $101B of debt, giving it the ability to borrow for acquisitions— The Scoop — Corporate spinoffs are born as takeover prey. They're often unloved, underperforming divisions, flung out to shareholders wearing a …

Discussion:
Bloomberg and @semaforben

Discussion:

Christopher Palmeri /
Bloomberg: Comcast to Spin Off Cable Channels MSNBC, USA

Business Insider:

Comcast's spinoff is essentially a garage sale of its basic cable TV networks, as the number of people paying for and watching cable networks falls every year— - Cable networks used to be incredibly valuable. But in the streaming and cord-cutting era, they are in decline.

Discussion:
MediaPost, Reuters, Advanced Television and WHEC.com The Hollywood Reporter:

Comcast spinoff: cable channel Bravo, the NBC broadcast network, and Peacock will remain part of NBCUniversal; the new entity's ownership will mirror Comcast— NBCU CFO Anand Kini will become CFO and COO of the new channels company. … Cable channel Bravo, the NBC broadcast network …

Discussion:
Variety, Deadline, @pkafka and Screen Rant

Discussion:

Michael Schneider /
Variety: Why NBCUniversal Is Holding On to Bravo as It Spins Off the Rest of Its Cable Nets

Peter Kafka /
@pkafka: A big moment for Big Media. Or, if you like a less dramatic spin - a garage sale. Me on Comcast without cable: https://www.businessinsider.com/ ...

Matthew Biggin /
Screen Rant: Suits: LA Release Date Finally Confirmed At NBC

Telegraph:

Almost 93% of 600 Guardian and Observer staff organized by the NUJ vote in favor of strike action over the proposed sale of The Observer to Tortoise— Union leaders say walkouts can be avoided if the company ends discussions with Tortoise — The Guardian is braced for strike action …

Discussion:
@pressgazette: Update: Tortoise has come out swinging against the strike decision, asking staff “how long do you think The Guardian will keep two sets of critics reviewing the same plays, films, art and music?” https://pressgazette.co.uk/...

Carole Cadwalladr /
@carolecadwalla: NEW: Guardian & Observer journalists overwhelming vote in favour of strike action in protest at proposed sale of the Observer to Tortoise media. [image]

Martin Bright /
@martinbright: Observer and, importantly, Guardian journalists vote by 93% in favour of strike action. A huge show of solidarity over the proposed sale of the world's oldest newspaper. https://www.nuj.org.uk/...

Daniel Thomas /
Financial Times: Observer staff set to strike over planned Tortoise sale

Sonia Sodha /
@soniasodha: Results out of the Guardian & Observer NUJ's postal ballot on strike action on the proposed sale of the Observer to Tortoise & its impact on staff. 75% turnout, 92.8% in favour of strike action. [image]

Alison Phillips /
New Statesman: Will staff go on strike to block the Observer sale?

Helen Cahill /
The Times: Guardian staff vote to strike over sale of Observer

Eleanor Wheatley /
Guido Fawkes: Guardian Staff Vote to Strike Over Observer Sale to ‘Slow News’ Tortoise Media

RELATED:

Press Gazette:

Tortoise says it plans to invest £25M in Observer over five years, aiming to turn it into a self-funded, paywalled newsbrand with 100K new digital subscribers— Journalists have opted for a 48-hour stoppage next month, with a second possibly to follow.

Discussion:
@danielthomasldn and Telegraph

Discussion:

Daniel Thomas /
@danielthomasldn: Guardian bosses have offered voluntary redundancy to any Observer staff that do not want to move to Tortoise in latest attempt to calm staff uproar ahead of a strike next month. A memo to staff confirms the board has greenlighted deal ahead of a meeting of Scott Trust next week

Lucy Burton /
Telegraph: Guardian staff to go on strike for four days next month

Associated Press:

Apple Daily founder Jimmy Lai testifies for the first time in his years-long national security trial; he is already serving a jail term for a fraud conviction— Former Hong Kong publisher Jimmy Lai began testifying Wednesday in his landmark national security trial that is widely seen …

Discussion:
The Guardian, Washington Post, Semafor, The Wire China, Reuters, Agence France-Presse, Hong Kong Free Press HKFP, New York Times, Financial Times, The Japan Times, South China Morning Post, Reuters, Wall Street Journal, CBS News, Bloomberg, Raw Story, London Evening Standard and Reporters Without Borders

Discussion:

Marta Biino /
Semafor: Hong Kong media mogul Jimmy Lai denies foreign collusion in national security trial

Noah Berman /
The Wire China: The Daily Roundup … Good Morning. … The Wall Street Journal — He Rose to Riches in Hong Kong.

James Lee /
Hong Kong Free Press HKFP: Hong Kong's Jimmy Lai denies using connections to sway US foreign policy as he takes stand in national security trial

Chan Ho-him /
Financial Times: Jimmy Lai testifies for first time in Hong Kong national security trial South China Morning Post: Hong Kong's Jimmy Lai takes stand for first time in his year-long national security trial

Austin Ramzy /
Wall Street Journal: He Rose to Riches in Hong Kong. Now He's a Symbol of China's Crackdown. CBS News: Hong Kong's jailing of 45 democracy activists sparks criticism from foreign governments, rights groups

David Lynch /
London Evening Standard: MPs call for Hong Kong dissident Jimmy Lai's immediate release from prison

The Verge:

Google tightens its rules against “parasite SEO” content, or articles that have little to do with the website's focus, after cracking down on “reputation abuse”— Google is tightening its rules against “parasite SEO” content, or articles and pages that often have little …

Discussion:
MediaPost, Entrepreneur, Search Engine Roundtable, @simonowens.bsky.social and CNET, more at Techmeme »

Discussion:

Laurie Sullivan /
MediaPost: Google Cracks Down On SEO Ranking Abuse

Ron Lieback /
Entrepreneur: AI Is Even Taking Over How We Search Online — Here's How to Climb the SEO Ranks and Beat the Competition

Barry Schwartz /
Search Engine Roundtable: Google Site Reputation Abuse Policy Now Includes First Party Involvement Or Content Oversight

Simon Owens /
@simonowens.bsky.social: This is bad news for lazy publishers that outsource their affiliate content to sleazy outside networks. If you're going to recommend products to your audience, you should actually put in the work of testing and reviewing those products. — www.theverge.com/2024/11/19/ 2...

Imad Khan /
CNET: Google Cracks Down on Big Sites Abusing Their Power and Returning Junk Search Results

Status:

Nielsen: Morning Joe's total audience fell 17% from the 6am hour to the 7am hour after Joe Scarborough and Mika Brzezinski said they met Trump, an unusual drop— The decision from Comcast will notably rip apart NBCU News Group boss Cesar Conde's kingdom, with MSNBC and CNBC being spun off.

Discussion:
Variety, Adweek, The Hollywood Reporter, @michellesea.bsky.social, @kellycripe, @jeremymbarr, Mediaite, @jeffjarvis, @brianstelter, Stephanie Smith on LinkedIn, @sallyshin, @oliverdarcy@threads.net, @asharma, @tvgrimreaper, @asharma, @timkarr.bsky.social, The Desk, Reuters, TVNewsCheck, Matthew Keys on LinkedIn, Dan Rayburn on LinkedIn, @amolsharma.bsky.social, The Hill and Daily Mail

Discussion:

Brian Steinberg /
Variety: Comcast Cuts the Cord: 5 Burning Questions About M&A, MSNBC and More

Saleah Blancaflor /
Adweek: What the Comcast Cable Spinoff Really Means to the TV Industry

Georg Szalai /
The Hollywood Reporter: Comcast's Cable Channels Spin Off Gets Mixed Wall Street Reaction

Michelle /
@michellesea.bsky.social: Happy to be one who changed the channel. — Mika's new mantra should be “ know how to diminish your value ”

Kelly Cripe /
@kellycripe: A lot of media outlets have really backed themselves into a corner in terms of audience growth.

Jeremy Barr /
@jeremymbarr: Joe Scarborough says he was surprised by Trump's response when they discussed Pete Hegseth during their meeting. “When his name came up, there was not a flinch, but a noticeable 'we've got problems here.' Those weren't the words, but I will just tell you that was the takeaway.”

David Gilmour /
Mediaite: Joe Scarborough Offers ‘On Background’ Morsel Following Trump Meeting: ‘Noticeable’ Reservation After Pete Hegseth ‘Problems’

@jeffjarvis:
.@oliverdarcy reports that Joe & Mika's bended knee cost them dearly, akin to Bezos' chicken move. (I say people returned for the 8a rerun to see what the furor was about.) https://www.status.news/... [image]

Brian Stelter /
@brianstelter: A Comcast executive confirms to CNN that the full plan for spinning off NBCUniversal's cable channels will be unveiled tomorrow morning. Notably, the plan calls for MSNBC and CNBC to be cleaved off from NBC News. More to come...

Stephanie Smith /
Stephanie Smith on LinkedIn: Comcast to spin off NBCU's cable channels, including CNBC, MSNBC, E!, Golf Channel, and USA. NBC broadcast stays with the mothership. …

Sally Shin /
@sallyshin: they kept bravo 😂

Oliver Darcy /
@oliverdarcy@threads.net: Immediately after Joe Scarborough and Mika Brzezinski announced they had visited with Trump to “restart communications,” droves of “Morning Joe” viewers picked up their remotes and turned off the channel. — More in Status: https://www.status.news/... [image]

Amol Sharma /
@asharma: 3) NBCU veteran Mark Lazarus will head to the new cable venture as CEO, and will take NBCU CFO Anand Kini with him (Kini will become CFO and COO of the new firm).

Amol Sharma /
@asharma: Some significant leadership changes at NBCU, effective immediately: 1) Donna Langley will become chairman of NBCUniversal Entertainment and Studios, gaining streamlined greenlight authority and more financial visibility/control than she's had previously, sources say.

Amol Sharma /
@asharma: 2) Matt Strauss, a Comcast veteran who heads the direct-to-consumer business, will be named chairman of NBCUniversal Media Group, with control over areas such as sports, ad sales and distribution. Langley and Strauss will share ownership of key areas of the business.

Tim Karr /
@timkarr.bsky.social: The election signified one thing for many who mind the structures that underpin U.S. media: — We're seeing a seismic shift in the ways Americans consume news & information, away from journalism as usual toward something new & even more dangerous to democracy. — This news is just one indicator:

Matthew Keys /
The Desk: Comcast expected to announce spin-off of cable networks

Matthew Keys /
Matthew Keys on LinkedIn: Interesting that Comcast is choosing to hold onto Bravo and NBC.

Dan Rayburn /
Dan Rayburn on LinkedIn: Comcast has finalized its decision to spin out its NBCU cable assets, and according to the WSJ, an announcement could come on Wednesday. …

Amol Sharma /
@amolsharma.bsky.social: Comcast once regarded its cable group—with channels like USA, MSNBC, E! and Oxygen—as a crown jewel. Now it's spinning off nearly all of them into a $7 billion venture. The announcement is coming tomorrow, I'm told. www.wsj.com/business/med...

Dominick Mastrangelo /
The Hill: Comcast to spin off cable assets: Report

Nieman Lab:

A profile of The Green Line, a Toronto-based local news site that combines traditional reporting, community events, and solutions and action— The Green Line combines events, explainers, and solutions to appeal to young Torontonians. — Toronto-based local news site The Green Line …

Discussion:
@niemanlab, @carolynjack, Anna Nirmala on LinkedIn and @tassosmorfis

Discussion:
@niemanlab: “It's slower to build audience through events, through in-person promotions like postering...through our network of partners,” she said. But “those audience[s] tends to be much more loyal and much more engaged.” https://www.niemanlab.org/... @carolynjack: Interesting local news experiment seeks to give Torontonians a place to go to “feel happier” in their city. | Nieman Journalism Lab https://www.niemanlab.org/...

Anna Nirmala /
Anna Nirmala on LinkedIn: “The Green Line is part of a broader movement to redefine local news as civic information. Li significantly changed language on The Green Line's website …

Fortune:

A Brooklyn federal grand jury indicts two brothers over allegedly running illegal sports streaming service 247TVStream, offering live NFL, NBA, and NHL games— “Thanks to the work of our prosecutors, along with our domestic and international law enforcement partners, the illicit digital streaming site …

Discussion:
The Desk and US Department of Justice

Anil Dash:

Substack wants writers to call their work by its brand name because “they control your audience and distribution” and “want to own your content and voice”— Email's been here for years. But the reason Substack wants you to call your creative work by their brand name …

Discussion:

Kenny Smith /
@kennysmith.bsky.social: Put your content on your own site. Encourage RSS use. Find the native newsletter tech from your CMS. Share your wicked awesome work in all the places you and your audience linger. — But point them to your site. — The one you control. [embedded post] @chrisplusplus@social.lol: 🔗 Don't call it a Substack. https://www.anildash.com/... > “Links are powerful — that's why Instagram and Twitter and Threads punish and limit them, and why Substack tries to take credit for them.” — Quit Substack while you can. Molly White has a great post about her experience doing so: https://www.citationneeded.news/ ...

Ben Werdmuller /
@werd.io: “We constrain our imaginations when we subordinate our creations to names owned by fascist tycoons.” Pulling no punches, I think correctly: #Media @netopwibby@social.coop: > Imagine the author of a book tellling people to “read my Amazon”. A great director trying to promote their film by saying “click on my Max”. — Sounds nuts, right? Delete your Substack. — https://www.anildash.com/... @herhandsmyhands@romancelandia.club: Substack has a Nazi problem: they are the bar that let in the Nazis set up shop, because they get a cut of the action. — And just like people left Xwitter behind, they can leave substack behind. There are tools, there are alternatives. — Anil Dash: Don't call it “a substack” … @kottke@mastodon.social: For the love of god, quit calling your newsletter “my Substack”. “You can talk about your work as *your work*. It's your newsletter, or your email, or your blog. Or just your writing. But it sure as hell isn't ‘your Substack.’” https://www.anildash.com/...