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Media And Business

All articles tagged with #media and business

Thompson to Lead CNN as Paramount Skydance Merger Closes
media-and-business3 days ago

Thompson to Lead CNN as Paramount Skydance Merger Closes

Mark Thompson will retain his role as chairman and CEO of CNN after Paramount Skydance completes its acquisition of Warner Bros Discovery on Tuesday. Thompson confirmed in a memo that he will serve as an independent editor-in-chief, assuring staff that Paramount leadership supports editorial independence. The decision alleviates fears that CNN would be merged with CBS News or led by Bari Weiss, though significant cost-cutting and integration challenges remain for the combined entity.

via The Guardian|
#cnn#david-ellison#mark-thompson
Skydance Merger Closes Next Week as Ellison Fires Warner Bros. Heads and Confirms 'Barbie 2'
media-and-business7 days ago

Skydance Merger Closes Next Week as Ellison Fires Warner Bros. Heads and Confirms 'Barbie 2'

David Ellison has officially named the combined Paramount and Warner Bros. Discovery entity 'Skydance,' with the merger set to close next week. The new corporate structure will preserve legacy brands while centralizing leadership under Ellison and co-CEO Ynon Kreiz. Key executive departures, including Warner Bros. Motion Picture Group heads Pamela Abdy and Michael De Luca, have been confirmed, and plans for a 'Barbie 2' sequel are advancing despite previous cost concerns.

via Variety|
#david-ellison#manda#media-and-business
Coalition Files Emergency Motion to Block Paramount-WBD Merger Amid Court Hearing
media-and-business15 days ago

Coalition Files Emergency Motion to Block Paramount-WBD Merger Amid Court Hearing

A coalition of media and press freedom groups has filed an emergency legal motion in California federal court to oppose the $111 billion Paramount-Warner Bros. Discovery merger. The filing challenges a recent settlement between Paramount and 12 state attorneys general, which the coalition calls weak and unenforceable. Judge Araceli Martínez-Olguín is scheduled to address the merger and the motion in a hearing today. Meanwhile, Warner Bros. staff report uncertainty and anxiety as the deal is expected to close within 10 days, with Paramount CEO David Ellison promising $6 billion in synergy savings.

via Variety|
#antitrust-litigation#block-the-merger-coalition#california-ag-settlement
Paramount settles antitrust suit, securing control of CNN with new oversight board
media-and-business17 days ago

Paramount settles antitrust suit, securing control of CNN with new oversight board

Paramount has reached a settlement with state attorneys general to resolve the antitrust lawsuit blocking its $111 billion acquisition of Warner Bros. Discovery. The deal, which will place CNN under the control of David Ellison, includes the creation of an independent editorial board for CNN and CBS News. Critics argue this board is a hollow gesture, citing historical precedents where similar oversight mechanisms failed to protect journalistic independence.

via Nieman Lab|
#antitrust#cnn#david-ellison
Rupert Murdoch's Succession Plan Thwarted by Court Ruling
media-and-business1 year ago

Rupert Murdoch's Succession Plan Thwarted by Court Ruling

A Nevada commissioner has ruled against Rupert Murdoch's attempt to alter his family trust to ensure his eldest son, Lachlan Murdoch, would control the family's media empire. This decision means the empire will be equally divided among Murdoch's four oldest children, who have differing ideological views. The ruling follows a closed-door trial where Murdoch and Lachlan were found to have acted in "bad faith." Rupert Murdoch plans to appeal the decision.

via Axios|
#court-ruling#family-trust#lachlan-murdoch
Ramaswamy Pushes BuzzFeed for Conservative Hires and Job Cuts
media-and-business2 years ago

Ramaswamy Pushes BuzzFeed for Conservative Hires and Job Cuts

Vivek Ramaswamy, who now owns 8.4% of BuzzFeed, has urged the company to cut staff, hire conservative commentators, and shift its strategy towards video and audio. BuzzFeed CEO Jonah Peretti responded by rejecting these proposals, emphasizing the company's commitment to its current journalistic standards. Shares in BuzzFeed rose 8% following the news.

via The Guardian US|
#buzzfeed#conservative-media#jonah-peretti
Vice Media to Close Website, Lay Off Hundreds
media-and-business2 years ago

Vice Media to Close Website, Lay Off Hundreds

Vice Media, known for its edgy content, will cease publishing new content on its flagship website and lay off several hundred staff as part of a strategic shift to partner with other media companies. The move reflects the broader struggles of news outlets in the digital era, with traditional and digital media alike facing challenges in finding a viable business model. This comes amid a wave of job cuts in the industry, with Vice's rivals like BuzzFeed News and Jezebel shutting down last year, and layoffs announced at other major media outlets.

via Al Jazeera English|
#cost-cutting-measures#digital-media#layoffs