Photo: Kena Betancur/AFP/Getty Images

AT&T is on a media acquisition spree with Otter Media, the digital video company currently owned by AT&T and media holding company The Chernin Group, as its next target. Sources tell Recode that AT&T plans to buy out Chernin’s stake in the company.

Why it matters: AT&T needs content to build out its new digital advertising and streaming businesses — ventures that will be created in light of its successful acquisition last week of Time Warner Inc.

  • Cheddar reported Tuesday that AT&T is looking to acquire AppNexus, one of the largest privately-owned ad exchanges, to bolster is digital advertising efforts.
  • And AT&T CEO Randall Stephenson teased several upcoming acquisitions in a CNBC interview last week.

The details: Otter Media is reportedly valued around $1 billion. Its assets include a streaming video company called Fullscreen and a subscription video product. According to Recode, the deal is expected to close this summer.

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Facebook boycott organizers share details on their Zuckerberg meeting

Facebook is in the midst of the largest ad boycott in its history, with nearly 1,000 brands having stopped paid advertising in July because they feel Facebook hasn't done enough to remove hate speech from its namesake app and Instagram.

Axios Re:Cap spoke with the boycott's four main organizers, who met on Tuesday with CEO Mark Zuckerberg and other top Facebook executives, to learn why they organized the boycott, what they took from the meeting, and what comes next.

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Illustration: Sarah Grillo/Axios

Civil rights leaders blasted Facebook's top executives shortly after speaking with them on Tuesday, saying that the tech giant's leaders "failed to meet the moment" and were "more interested in having a dialogue than producing outcomes."

Why it matters: The likely fallout from the meeting is that the growing boycott of Facebook's advertising platform, which has reached nearly 1000 companies in less than a month, will extend longer than previously anticipated, deepening Facebook's public relations nightmare.

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Photo: Kevin Lamarque-Pool/Getty Images

House Minority Whip Steve Scalise’s PAC is inviting lobbyists to attend a four-day “Summer Meeting” at Disney World's Polynesian Village in Florida, all but daring donors to swallow their concern about coronavirus and contribute $10,000 to his leadership PAC.

Why it matters: Scalise appears to be the first House lawmakers to host an in-person destination fundraiser since the severity of pandemic became clear. The invite for the “Summer Meeting” for the Scalise Leadership Fund, obtained by Axios, makes no mention of COVID-19.