Media +Technology Intelligence
AT&T announced that its board has decided to spin off the telco’s interest in WarnerMedia — rather than structure the media conglom’s divestiture as a split-off. The transaction will spin off 100% of AT&T’s interest in WarnerMedia to AT&T’s existing shareholders in a pro-rata distribution, followed by the merger of WarnerMedia with Discovery to form a new company, “Warner Bros. Read More …
As Penguin Random House and the Department of Justice continue to prepare for an August trial in which PRH hopes to block the government’s effort to kill its acquisition of Simon & Schuster, professionals throughout the industry are finding themselves pulled into the legal fray. Source: Publishers, Agencies Start Receiving Subpoenas as DoJ-PRH Case Ramps
Social media app becoming new Bestseller list Read More …
Warner Music Group (WMG) has officially finalized a “label-wide partnership” with Quincy Jones-backed music NFT platform OneOf. The pact arrives about eight months after OneOf scored $63 million in seed funding. Besides the financial support from 88-year-old Quincy Jones, the likes of John Legend, Doja Cat, and the Whitney Houston estate were previously announced as early OneOf Read More …
Superficially, it seems odd that one low Netflix quarterly forecast would scare investors from the entire segment. But if Netflix growth is slowing, that may mean the world’s total addressable streaming market is significantly lower than previously expected. LightShed analyst Rich Greenfield told CNBC he still believes that number is “six, seven, or eight hundred million subscribers.” But Read More …