Business

A preliminary injunction hearing for Fubo’s legal battle against Fox, Disney and Warner Bros. Discovery’s sports streaming joint venture has been set for Aug. 7 at 9:30 a.m. by the U.S. District Court for the Southern District of New York. The hearing will continue on Aug. 8 and Aug. 9, if necessary.

Writers Guild members at Sesame Workshop have reached a tentative deal with management to avoid a threatened strike. A ratification vote on the new five-year collective bargaining agreement will be held in the coming days. The writers had voted earlier to authorize a strike against the nonprofit organization, and picketing would have begun April 24 outside Sesame Workshop’s offices in New York City, had a deal not been struck.

Federal regulators on Friday announced a new plan designed to advance the interests of independent video programmers that have complained for years about restrictive contract terms demanded by pay TV distributors. FCC Chairwoman Jessica Rosenworcel said she launched the rulemaking in response to independent programmers that “continue to express concern about the challenges they have getting their programming on the channel lineup of cable and satellite television.”

NEW YORK (AP) — The worst week for big technology stocks since the COVID crash in 2020 dragged Wall Street on Friday across the finish line of another losing week. […]

Nexstar Media Group said it does not intend to renew the affiliations of The CW stations owned by E.W. Scripps in seven markets. In two of those  markets — Norfolk, Va., and Lafayette, La. — Nexstar-owned stations will become the new The CW affiliates, effective Sept. 1. “We have interest from other station groups in the five remaining markets and expect to make announcements about those affiliations soon,” Nexstar said in a statement.

Automotive year-to-date estimated national TV spending is down 9.1% year-over-year after falling another 1.9% in March. Household TV ad impressions of automotive ads is also down 11.4% in March and 9.4% year-over-year, according to iSpot.tv. National TV spending in March by automakers was $214 million compared to $218.2 million last March. Year-to-date estimated national TV spending was $699.1 million compared to $769 million for the same period in 2023.

David Zaslav saw his total compensation package last year jump by more than $10 million to $49.7 million in 2023 — with Warner Bros. Discovery awarding him a base salary of $3 million, plus $23 million in stock awards, and non-equity incentive plan compensation (a cash bonus) of $22 million. It’s the second rather princely CEO package in as many days in an industry known for them as Netflix yesterday unveiled a similarly sized package for co-CEO Ted Sarandos.

Both Disney and Warner Bros. Discovery are actively in talks with the NBA, and those discussions will continue past April 22, when the exclusive window expires.
Amazon, NBCUniversal, Netflix, YouTube TV and Apple have all expressed preliminary interest in talks with the NBA about potentially buying a package of games as a new partner.

TikTok, which officially landed in the United States in 2018, was the most downloaded app in the country, and the world, in 2020, 2021 and 2022. It wasn’t that the elements of it were so new — compelling videos from randos had long been a staple of American pop culture — but TikTok put the pieces together in a new way.

Essence magazine’s corporate parent Sundial Media Group has agreed to buy women’s lifestyle company Refinery29 from Vice Media, the company said Thursday. The deal offers Refinery29 a lifeline after a tumultuous few years under the Vice Media brand.

In an effort to help brands get the attention of as many viewers as possible, YouTube is launching a “Select Shorts” ad offering, to give advertisers the ability to engage audiences across a variety of content genres by placing their ads alongside best-performing Shorts. According to the Google-owned social platform, YouTube Select Shorts will allow advertisers to choose to place their ad alongside the app’s top Shorts across five categories including entertainment, beauty, fashion and lifestyle, food and recipes, gaming and automotive.

Armstrong Williams: Depression-era regulations won’t protect local journalism in the digital age.

Fox Sports has appointed Jen Durda and Kathy Lydon both named VPs. Durda previously was a VP with Warner Bros. Discovery and Turner Sports. She will work from Fox’s Detroit office. Lydon was with ESPN/Disney leading a multimedia sales team. At Fox, she will lead sales for the Big Ten Network.

Comcast on Thursday surprised with a suite of prepaid products that includes wireless, fixed broadband, Wi-Fi and streaming TV, all under the new Comcast “NOW” brand. Wireless has offered prepaid mobile plans for years. These plans have typically been targeted to lower-income people; they don’t require good credit scores (since they’re prepaid); and they can easily be switched on and off. But prepaid has not been widely offered in the fixed broadband world.

The company and Apollo Global Management are discussing a joint effort, even as Paramount conducts exclusive merger negotiations with Skydance.

U.S. stock indexes drifted to a mixed finish on Thursday in a quiet day of trading.

Netflix added 9.3 million subscribers in the quarter ended March 31, reaching 269.6 million worldwide, and outperformed expectations in other key areas in its latest strong financial report. Revenue and earnings per share both handily exceeded Wall Street forecasts at $9.37 billion and $5.28, respectively. The top line was up 15% from the same quarter in 2023, while EPS came in at nearly double the year-ago period’s $2.88. In its quarterly letter to shareholders, Netflix said it planned to stop reporting subscriber totals and average revenue per subscriber starting with its first quarter results in 2025.

With a judge approving the company’s disclosure agreement and setting up a June confirmation hearing, Diamond lawyer says the company is poised to exit Chapter 11, while insisting a just-approved November deadline extension is merely a “prophylactic motion.”

The Broadcasters Foundation of America held its annual breakfast Wednesday during the NAB Show in Las Vegas. The Foundation honored several industry leaders. Six honorees received the Leadership Award, and Erica Farber received the Lowry Mays Excellence in Broadcasting Award. L-r: Mike McVay, president, McVay Media Consulting; Kathleen Kirby, partner, Wiley; Don Bouloukos, CBS and ABC Radio executive; Erica Farber, president-CEO, Radio Advertising Bureau; Frank Comerford, chief revenue officer/president, commercial operations NBCU Local;  John Rouse, EVP, ABC Affiliate Relations, Disney Platform Distribution; and Traug Keller, president ABC Radio Network/SVP, ESPN Radio.

The transaction will create one of the largest multicultural media platforms in the U.S.

Paramount Global’s exclusive talks with Skydance Media are not likely to result in a deal, according to a report. Paramount, home of Paramount Pictures, MTV and CBS, entered into a 30-day period of exclusive talks with Skydance, which has produced blockbusters for Paramount like Mission: Impossible — Dead Reckoning and Top Gun: Maverick. The two companies will not likely strike a deal by May 3, which is when the exclusive window expires, CNBC’s David Faber said Wednesday.

IPG Mediabrands has unveiled plans to step up its efforts to safeguard clients from the negative impact of misinformation in media — especially on social media — prioritizing political, climate, health care, AI-generated and brand-specific content. The initiative, which was announced along with a new spate of research revealing how consumers feel about brand advertising in misinformation environments, includes an expansion of an ongoing research relationship between IPG Mediabrand’s Magna and brand content safety platform Zefr, as well as new technology developed by IPG Mediabrands’ Kinesso unit.

The Tennis Channel is lining up to play on multiple distribution courts in 2024 as it looks to serve its hard-core viewers wherever and whenever they want to see live tennis and Pickleball action, according to Tennis Channel president Ken Solomon. The Sinclair Broadcast Group-owned service is planning to launch a direct-to-consumer offering in 2024 to complement its lineup of the Tennis Channel linear service, its Pickleballtv and T2 FAST Channels and its Tennis Channel Plus SVOD service.

DirecTV has confirmed that it will appeal a federal judge in New York’s decision to throw out its antitrust lawsuit against Nexstar Media Group. The pay TV company has accused Nexstar of conspiring to fix broadcast retransmission license fees through management services agreements with smaller station groups Mission Broadcasting and White Knight.