1 big thing ... Scoop: The numbers behind CNN+

2. 🐦 "Steal of a deal"

3. NYT Opinion doubles in size

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4. Florida becoming conservative media HQ

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5. Wall Street drives streaming's pivot to ads

6. 1 fun thing: Nerd prom is back

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Situational awareness: Kevin Hart's media company has raised $100 million from private equity at a ~$650 million valuation, the New York Times reports. It's the latest in a long list of booming celebrity production companies.

National

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Axios Media Trends

1 big thing ... Scoop: Massive cuts at Lee 

2. Quartz sold for less than $10 million

3. Decrypt splits from parent, raises $10M

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4. Cuts coming for The Recount

5. Attention economy slowdown

6. Journalism "under digital siege"

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7. 1 🍿 thing: New box office normal

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📅 Thursday at 2:30pm ET: Join Axios Pro’s Tim Baysinger for a live discussion with NBCUniversal's Linda Yaccarino. Register here. 

⚖️ Viral bombshell: Overnight, Politico's SCOTUS scoop has gained more social interactions than some of the biggest stories in the past year, including the leaked McCarthy tapes and the Pandora Papers, per NewsWhip data. 

Editor's note: Item 6 was corrected to reflect that there is a lack of punishment for crimes against journalists (not a lack of impunity).

1 big thing: Scoop ... CNN+ looks doomed

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2. Cerebral and low-key: NYT's new top editor

3. Musk takeover saga invites Twitter bidding war

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4. America's silent billionaires

5. Rolling Stone eyes creators and profitability

6. Ad tech slowdown

7. 1 annoying thing: Drowning in spam 

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Situational awareness: Netflix reports earnings today after the bell. Analysts have low expectations, given weak first-quarter guidance and suspended service in Russia. 

1 big thing: Scoop ... Candle buys ATTN: for $150M

2. Exclusive: "Meet the Press" plans digital rebrand

3. Musk backtracks on Twitter

4. Viral trial spirals

5. Upfronts are all about streaming now

6. Eater has a new EIC

8. 1 🍿 thing: Warren Buffett's streaming plans

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1 big thing: Seuss scoop

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2. Crisis in Mexico

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3. Sports networks squeezed by rising costs, fewer subscribers

4. Tech's biggest losers

5. Crypto craze continues

6. Disrupters, disrupted

7. 1 🍿 thing: The summer blockbuster is back 

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Situational awareness: The 2022 Pulitzer Prize winners were announced Monday, with several awards going to journalists that covered inequities around voting and policing. Two prizes were awarded to journalists covering Jan. 6.

📷 Award-winning photos from Getty and the Los Angeles Times.

NBC News is doubling down on the digital transformation of its flagship political show "Meet the Press" by rebranding its separate website for the franchise, overhauling its flagship political newsletter and adding a new blog.

Why it matters: The efforts come days after NBC News announced that Chuck Todd's daily "Meet the Press" show would move from MSNBC at 1 p.m. to the network's 24/7 news streaming service NBC News Now at 4 p.m.

"Really where we are putting a lot of our time, attention and investment is on these other platforms," said Carrie Budoff Brown, senior vice president of "Meet the Press" at NBC News. "This is where we see our growth."

Details: The new digital products will be rolled out in June in conjunction with the daily "Meet the Press" streaming show launch on NBC News Now and will be promoted via NBC News' digital channels.

Budoff Brown, who joined NBC News from Politico last year, said the changes will help make NBC News' political journalism, which is anchored by the "Meet the Press" franchise, "more accessible this election year."

NBC News plans to add more exclusive reporting from the campaign trail to its political coverage, which will live under the "Meet the Press" umbrella.

The new MeetThePress.com website will become a repository for all "Meet the Press" shows and coverage, as well as all of NBC News' coverage of the 2022 midterms and future elections.

The new "Meet the Press" blog will house breaking news from the "Meet the Press" team and NBC News' political unit, which Budoff Brown also oversees.

The franchise will add a new show podcast in June for the "Meet the Press" daily show that's moved over to streaming, in addition to its two existing podcasts, the weekly "Chuck ToddCast," and the show podcast for the "Meet the Press" on Sundays.

NBC News will overhaul its flagship political newsletter "First Read" with a new design, graphics and data visualizations that can better illustrate the latest polling and research from NBC News' political team.

The "Meet the Press" franchise also plans to add more election specials to its video coverage in the coming months leading up to the midterms as it experiments with different show formats on NBC News Now.

The first special will air Tuesday around the midterms and will be co-anchored by Todd and NBC News chief White House correspondent Kristen Welker.

By the numbers: About 50 people report to Budoff Brown across the "Meet the Press: franchise and NBC News' political unit.

Most of that staff touches digital products. For example, the team that produces the network's flagship Sunday show also produces "Meet the Press Reports," a weekly streaming show on Peacock that goes deep on a single topic.

Budoff Brown plans to add around a half dozen more positions to the "Meet the Press" franchise in the coming months, with most of the roles will focus on digital products.

NBC News Now had its best quarter on record from January through March with nearly 100 million hours streamed, a spokesperson told Axios.

In addition to a digital rebrand, the company will move its annual "Meet the Press" film festival from D.C. to New York in November and will be a part of Doc NYC, the country's largest documentary film festival.

The move, Budoff Brown said, will showcase the "Meet the Press" political documentaries alongside NBC News Studios' documentary unit and MSNBC films, a division of MSNBC that produces and acquires documentaries.

The Meet the Press Film Festival has aired over 100 political documentaries over five years. 

The big picture: The transition of Meet the Press' daily show to streaming has been the franchise's biggest step towards becoming a digital-first brand after decades of cementing an audience on television. 

"We're taking the entrepreneurial, experimental point of view that Chuck has shown for the past seven-eight years and turbo-charging that," Budoff Brown said, referring to Chuck Todd, who anchors all of the "Meet the Press" video shows and serves as the NBC News' political director.

Budoff Brown recently hired a new content strategy team, led by longtime "Meet the Press" vet Matt Rivera, to help expand the brand to other platforms, like TikTok, where NBC News already has a large presence.

Disclosure: NBC is an investor in Axios and Sat Brainch, chief commercial officer of NBCU News Group, is a member of the Axios board. Axios journalists appear on MSNBC.

Exclusive: "Meet the Press" plans digital rebrand

NBC News said the move will help make its political journalism "more accessible this election year."

NBC News

Media

NBC News is doubling down on the digital transformation of its flagship political show &quot;Meet the Press&quot; by rebranding its separate website for the franchise, overhauling its flagship political newsletter and adding a new blog.Why it matters: The efforts come days after NBC News <a class="gtmContentClick" data-vars-link-text="announced" data-vars-click-url="https://www.latimes.com/entertainment-arts/business/story/2022-05-06/msnbcs-meet-the-press-daily-will-move-to-streaming-channel-nbc-news-now" data-vars-content-id="04f19b51-0401-4e1e-b2a6-030237368d99" data-vars-headline="Exclusive: &quot;Meet the Press&quot; plans digital rebrand" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.latimes.com/entertainment-arts/business/story/2022-05-06/msnbcs-meet-the-press-daily-will-move-to-streaming-channel-nbc-news-now" target="_blank">announced</a> that Chuck Todd&#x27;s daily &quot;Meet the Press&quot; show would move from MSNBC at 1 p.m. to the network&#x27;s 24/7 news streaming service NBC News Now at 4 p.m.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Economy & Business

Campbell Brown, the veteran news anchor who has served as Meta's vice president of news partnerships since 2017, is being promoted to oversee a new global media partnerships team at the company, Meta sources tell Axios. 

Why it matters: The new role will allow Brown to focus on broader media partnerships in addition to news. New regulations around the globe are forcing tech firms like Meta and Google to pay to host news content. 

Details: In her new role, Brown will oversee a team that manages partnerships with sports leagues, film studios, broadcasters, streamers, digital media companies and news publishers across all of Meta's products. 

The  team will focus on new partnerships that support short-form video, NFTs, and the metaverse.

Examples of the types of media partnerships that Meta has brokered that would now fall under Brown's remit include a partnership with the Tribeca Film Festival to screen short films, sports streaming rights and live broadcasts of red carpet events.

What's next: A formal announcement of the promotion is expected this week.

Scoop: Campbell Brown to oversee new media partnerships team at Meta

In the new role, the executive's responsibilities will extend beyond the realm of news.

Meta (company)

Campbell Brown, the veteran news anchor who has served as Meta&#x27;s vice president of news partnerships <a class="gtmContentClick" data-vars-link-text="since 2017" data-vars-click-url="https://www.axios.com/2017/12/15/facebook-hires-former-cnn-host-to-make-nice-with-media-companies-1513299907" data-vars-content-id="228de282-dcd1-4c97-8211-d8c2c3c688c6" data-vars-headline="Scoop: Campbell Brown to oversee new media partnerships team at Meta" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2017/12/15/facebook-hires-former-cnn-host-to-make-nice-with-media-companies-1513299907" target="_self">since 2017</a>, is being promoted to oversee a new global media partnerships team at the company, Meta sources tell Axios. Why it matters: The new role will allow Brown to focus on broader media partnerships in addition to news. New regulations around the globe are <a class="gtmContentClick" data-vars-link-text="forcing tech firms like Meta and Google to pay" data-vars-click-url="https://www.axios.com/2021/02/25/facebook-pay-news-industry-1-billion-3-years" data-vars-content-id="228de282-dcd1-4c97-8211-d8c2c3c688c6" data-vars-headline="Scoop: Campbell Brown to oversee new media partnerships team at Meta" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2021/02/25/facebook-pay-news-industry-1-billion-3-years" target="_self">forcing tech firms like Meta and Google to pay</a> to host news content.

From the Valley to D.C., Big Tech players like Facebook, Google and Amazon are under more scrutiny than ever as new technology develops and privacy and antitrust concerns grow in lockstep with companies’ ambitions.

Technology

Elon Musk tweeted at 3:32am ET Tuesday that his bid to buy Twitter "cannot move forward" unless CEO Parag Agrawal provides proof for his estimate that less than 5% of users are bots or spam accounts.

Why it matters: Analysts believe Musk is using allegations that Twitter's user base has more bots than the company claims to either back out of the deal or negotiate down a price, especially now that Twitter's stock price has plummeted amid a broader market downturn.

Twitter said in a statement that it "is committed to completing the transaction on the agreed price and terms as promptly as practicable."

Details: Replying to an article that suggested he "may be looking for a better Twitter deal," Musk tweeted that "20% fake/spam accounts, while 4 times what Twitter claims, could be *much* higher."  

"My offer was based on Twitter's SEC filings being accurate. Yesterday, Twitter's CEO publicly refused to show proof of <5%. This deal cannot move forward until he does," he wrote.

Catch up quick: Musk has been publicly back-tracking on his initial $44 billion takeover bid since Friday, when he tweeted that the deal was "temporarily on hold," as he sought more details on the platform's spam accounts. 

Wall Street had been skeptical that the deal would go through even before that. 

The big picture: Rarely do deals of this scale and prominence get worked out publicly in such a bizarre manner. But Musk's reputation for spontaneity and audacity has few onlookers shocked at this point.  

Some are even wondering whether the entire takeover attempt is anything more than Musk trolling Twitter, using Twitter.   

Case-in-point: On Monday, Agrawal wrote a lengthy Twitter thread defending the company's spam policy and explaining how it approaches the issue.

Twitter on Tuesday morning also filed a preliminary proxy statement with the SEC that showed a timeline of its negotiations with Musk. The filing suggests:

Twitter's bankers advised that it take Musk's deal at $54.20 as it was economically prudent for the company.

Twitter co-founder and former CEO Jack Dorsey told Musk that in his personal view "Twitter would be better able to focus on execution as a private company," per the filing.

Musk told Twitter executives in March that he was considering various options with respect to his ownership, including "starting a competitor to Twitter," in addition to potentially joining the Twitter board or seeking to take Twitter private.

Between the lines: Twitter executives are trying to respond as if business is normal, despite the fact that employees are rattled. 

On Friday, Twitter chairman Bret Taylor responded to Musk's tweet about the deal being temporarily on hold by tweeting: "We remain committed to our agreement."

Last Thursday, Agrawal ousted two of the company’s top executives and paused hiring as part of a push to be more fiscally responsible.

He acknowledged the move Friday after Musk said the deal was on pause, tweeting: "While I expect the deal to close, we need to be prepared for all scenarios and always do what's right for Twitter. I'm accountable for leading and operating Twitter, and our job is to build a stronger Twitter every day."

Our thought bubble: The spam narrative appears to be a ploy to either back out of the deal or change its terms.

Musk could have requested an audit of the company's accounts and spam policies while doing his due diligence on the deal, like a normal investor. 

Suggesting the company's filings are inaccurate implies Musk thinks executives are lying to the SEC — a serious allegation.

The bottom line: If it wasn't Musk, all of this would be shocking.

Editor's note: This article has been updated with new details from Twitter's proxy statement.

Musk: Twitter deal "cannot move forward" unless spam questions answered

Wall Street already believed Musk is trying to back out of the deal.

Elon Musk

Scoop: Chris Wallace to anchor new show on CNN

The longtime Fox News host recently moved over to CNN to launch a show on its now-defunct streaming service.

Photo: Olivier Douliery-Pool/Getty Images

Warner Bros. Discovery, CNN&#x27;s new parent company, plans to announce during its upfront presentation to advertisers on Wednesday that Chris Wallace will host a Sunday evening show on CNN.Why it matters: The longtime Fox News host had recently moved to CNN to launch a show on its now-defunct streaming service, CNN+.

Candle Media, the new media rollup company backed by Blackstone and led by former Disney executives Tom Staggs and Kevin Mayer, is acquiring ATTN:, the digital media company that focuses on social change content for millennials and Gen-Z.

Why it matters: The deal gives ATTN: capital and access to Candle's portfolio companies and creator relationships to help the firm scale. It gives Candle access to a brand that has expertise in reaching a younger, socially-active audience. 

Details: Sources close to the deal say Candle paid around $150 million for ATTN:. Candle paid $100 million in cash and stock and the deal could total $150 million with payouts. 

ATTN: is profitable and makes money from licensing original content, consulting and producing branded content. 

ATTN:’s existing senior management team, including co-founders Matthew Segal and Jarrett Moreno, will continue to oversee ATTN:’s day-to-day operations. Segal and Moreno both previously co-founded a voter non-profit called Our Time before launching ATTN:.

The Information reported in January that Candle and ATTN: were in talks.

Be smart: ATTN:'s focus on social change has become attractive for advertisers looking to message about their corporate social responsibility efforts via branded content. 

In the past few years, the advocacy advertising sector has grown significantly in response to brands wishing to speak out around issues like climate, health and the economy during the pandemic. 

Catch up quick: Founded in 2014, ATTN: has distinguished itself by focusing on videos about causes that go viral on social media. 

Those videos often feature prominent political voices, such as Michelle Obama, Joe Biden, and Valerie Jarrett, who serves on ATTN:'s board. 

It recently produced a viral video for former California governor Arnold Schwarzenegger urging Putin to stop the war in Ukraine. The video has been viewed millions of times online and has been reposted by many news outlets. 

ATTN: benefited enormously from the wave of social good initiatives throughout the pandemic and the 2020 election. 

The company landed a 7-figure deal with TikTok to produce videos for a new initiative called "TikTok for Good" last year. It also created a TikTok Studio that brings brands and influencers together to create content for the platform. 

It partnered with Instagram in 2020 to produce a slate of memes, Reels, Stories and videos encouraging young people to vote.

ATTN: has worked with major TV networks like NBC and ABC to do live specials around topics like voting and COVID. 

By the numbers: ATTN: raised $37 million across three funding rounds, according to Crunchbase. Most of its funding comes from venture capital firms.

The company raised $15 million in 2018 in a round led by Evolution Media. It raised $18 million in 2016 in a round led by TPG via Evolution Media Partners.

What they're saying:  “ATTN: has a deep, digital-native understanding for how to cut through the noise and reach today’s audiences through engaging content on social media," said Mayer and Staggs in a statement. 

“Partnering with Candle and their growing, talented team of creators will allow us to further this mission in a whole new way, accelerating our growth and reaching even more people with what we create," Segal and Moreno said.

The big picture: It’s the latest in a string of recent acquisitions by Candle to invest in companies that produce original intellectual property. 

With the backing of Blackstone, Candle acquired film and digital production companies in the past year, including Faraway Road Productions, the content studio behind Fauda, Moonbug Entertainment, a UK-based digital content company that produced "Cocomelon," and Reese Witherspoon’s production company Hello Sunshine.

Earlier this year, Candle bought a minority stake in Will Smith and Jada Pinkett Smith’s entertainment company, Westbrook Inc.

What’s next: The transaction is expected to close within the next month. 

Scoop: Candle Media acquires digital publisher ATTN: for $150 million

The deal gives ATTN: capital and access to Candle's portfolio companies and creator relationships.

Media deals

Candle Media, the new media rollup company backed by Blackstone and led by former Disney executives Tom Staggs and Kevin Mayer, is acquiring <a class="gtmContentClick" data-vars-link-text="ATTN:, the digital media company" data-vars-click-url="https://www.axios.com/2021/04/21/attn-tiktok-social-good-videos" data-vars-content-id="769d3e9d-d0e3-4039-9443-930cb93c937d" data-vars-headline="Scoop: Candle Media acquires digital publisher ATTN: for $150 million" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2021/04/21/attn-tiktok-social-good-videos" target="_self">ATTN:, the digital media company</a> that focuses on social change content for millennials and Gen-Z.Why it matters: The deal gives ATTN: capital and access to Candle&#x27;s portfolio companies and creator relationships to help the firm scale. It gives Candle access to a brand that has expertise in reaching a younger, socially-active audience.

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Scoop: Campbell Brown to oversee new media partnerships team at Meta

Scoop: Chris Wallace to anchor new show on CNN

Scoop: Candle Media acquires digital publisher ATTN: for $150 million

Exclusive: "Meet the Press" plans digital rebrand

Musk: Twitter deal "cannot move forward" unless spam questions answered

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Axios Media Trends — Scoop: Huge layoffs

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Axios Media Trends — Scoop: CNN+ looks doomed