1 big thing: PBS COO on linear TV and partnerships

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2. The BFD: Ares kicks $500M to Chelsea FC

3. Cue the "Succession" theme

Studio Ghibli sells controlling stake to Nippon TV

4. Totoro's new home

Still from the Studio Ghibli film "My Neighbor Totoro" with the character Mei sitting on Totoro and poking its nose

5. Deal flow

6. Movin' on up (or out)

7. Channel surfing

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📉 Situational awareness: TKO's stock is down 14% this morning after the WWE parent company announced a new five-year media rights deal with NBCUniversal for "SmackDown," moving the program from Fox to USA Network in a $1.4 billion deal, per WSJ.

🗓 Plus: LinkedIn co-founder Reid Hoffman will join the Axios BFD event in New York on Oct. 12 to discuss AI investments. Request your invitation.

@kerrymflynn: "Merrily We Roll Along" at Hudson Theatre. Thrilled this show got a Broadway run so I can see Daniel Radcliffe and Jonathan Groff onstage together.

✏️ Thanks to Michael Flaherty for editing and Katie Lewis for copy editing this newsletter.

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Media Deals

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1 big thing: Morning Brew exodus

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2. The BFD: Amazon's billion-dollar AI move 

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3. Deal flow

4. Movin' on up (or out)

5. Channel surfing

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🏨 1 fun thing: Inside The Continental

Image on left is of the outside of The Continental, 82 Beaver Street, in New York City with an old style taxi cab parked out front. Picture on the right is of Kerry Flynn in a purple jumpsuit and Mike Murphy in a suit standing in front of a bar that says The Continental

🎬 Situational awareness: The Writers Guild of America announced last night that it had reached a "tentative agreement" with the major Hollywood studios that would bring an end to the 146-day strike, Tim and Sara Fischer write.

@kerrymflynn: "Stop Making Sense" at AMC Theatres and "Here Lies Love" at Broadway Theatre. Anniversary weekend was full of David Byrne music, including a spontaneous run-in with the choreographer of "American Utopia."

Thank you for reading Axios Pro Media Deals! Please ask your friends, colleagues and Keanu Reeves to sign up.

1 big thing: The strike ends, deal vibes begin 

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2. The BFD: OpenAI's valuation leap

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🗣️ Quote of the day: "While I did have a very outward facing or high-profile role in my last job, certainly the intensity is very different," X CEO Linda Yaccarino tells the FT in a new profile. 

🍻 Mark your calendars: Join Axios Pro Deals and Dan Primack for an exclusive happy hour event in New York on Wednesday, Oct. 11. Register.

@kerrymflynn: "New Heights" on YouTube. Listening to the Kelce brothers' podcast for the first time today so I can hear about Taylor Swift.

Thank you for reading Axios Pro Media Deals! Please ask your friends, colleagues and generative AI investors to sign up.

1 big thing: ComplexCon returns

Rick Ross performs on Day Two of ComplexCon Chicago at McCormick Place on July 21, 2019 in Chicago, Illinois. 

2. The BFD: Scoop ... Ara Labs' $50 million 

an illustration of a cab light lit up with money signs 

3. Liberty's Sirius streaming 

4. Exclusive: Folk Media Group launch

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🎶 Situational awareness: Liberty Media proposed a complex deal involving satellite radio and streaming service SiriusXM. More below. 

@kerrymflynn: "XOXO, Cody" on Audible. I've been listening to one of my favorite Peloton instructors share life advice, in addition to his spin classes.

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1. Wasserman buys Brillstein

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2. Scoop — XFL and USFL huddle

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3. YouTube bet

4. Comscore, iSpot and VideoAmp win

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5. Real estate glam

6. PBS COO on linear TV and partnerships

Happy Friday, media readers. Research associate Natalie Breymeyer here, with your weekly digest.

🎮 Situational awareness: U.K. regulators said Microsoft's revised plan to purchase Activision Blizzard largely satisfies its objections earlier this year. 

🎬 In other news: Striking writers and Hollywood studios will meet for a third consecutive day Friday, hoping to end the nearly 150-day standoff.

🧩 Natalie's goal this weekend is to complete the puzzle that's taken over the living room coffee table.

✏️ Special thanks to Katie Lewis for copy editing this newsletter.

🙏 Thank you for reading Axios Pro Media Deals! Please ask your friends and colleagues to sign up.

National

Media Trends

Axios Media Trends

The Writers Guild of America (WGA) announced on Sunday that it had reached a "tentative agreement" with the major Hollywood studios that would bring an end to the 146-day strike. 

Why it matters: With a deal in hand with the writers, the studios can turn their attention toward cutting a deal with the actors' union to end the Hollywood labor stoppage for good.

Details: The WGA released a statement Sunday, after five days of continued negotiations, saying that a tentative agreement with the Alliance of Motion Picture and Television Producers (AMPTP) had been reached, but is "subject to drafting final contract language."

It noted that union members are not to return to work "until specifically authorized" to do so by the Guild. "We are still on strike until then. But we are, as of today, suspending WGA picketing," it added, encouraging writers to join the SAG-AFTRA picket lines this week.

The WGA lauded its members for their patience and determination throughout the process. "It is the leverage generated by your strike, in concert with the extraordinary support of our union siblings, that finally brought the companies back to the table to make a deal," it said. 

What they're saying: SAG-AFTRA, the union that represents striking actors, in a Sunday night statement congratulated the WGA for reaching a tentative agreement with the AMPTP.

"We remain on strike in our TV/Theatrical contract and continue to urge the studio and streamer CEOs and the AMPTP to return to the table and make the fair deal that our members deserve and demand," the statement added.

A screenshot of a SAG-AFTRA tweet, saying: "We look forward to reviewing the terms of the WGA and AMPTP’s tentative agreement. And we remain ready to resume our own negotiations with the AMPTP as soon as they are prepared to engage on our proposals in a meaningful way. "

Meanwhile, California Gov. Gavin Newsom (D) said in a statement on Sunday night that the state's entertainment industry "would not be what it is today" without its world-class writers. 

"For over 100 days, 11,000 writers went on strike over existential threats to their careers and livelihoods — expressing real concerns over the stress and anxiety workers are feeling," he added.

"I am grateful that the two sides have come together to reach an agreement that benefits all parties involved, and can put a major piece of California's economy back to work."

The big picture: The dual strikes in Hollywood by writers and actors wreaked havoc on the entertainment industry. 

Virtually all production of scripted content has been shut down since the actors' union joined the writers guild in striking in July. That led to a cascade of production delays for both TV and films; late-night talk shows have been on hiatus since the writers strike began in May. 

Once the actors went on strike and ceased all promotional work, some studios delayed the release of already-completed films, like Warner Bros.' "Dune" sequel. 

Be smart: The strike also took a financial toll on media giants. After first arguing that the production shutdown would save them money, media CEOs in recent weeks have detailed just how much the strike is costing them. 

Warner Bros. said the strike will wipe out as much as $500 million in earnings this year. 

What's next: The agreement needs to be ratified by WGA members through a vote before finalized.

Striking numbers: Writers work less with streaming TV

Writers striking worry AI could stymie diversity efforts in Hollywood

Writers strike highlights extra barriers Latinos and writers of color face

Editor's note: This article has been updated with new details throughout. It has also been updated with an embedded photo showing a post by the WGA on X (formerly Twitter). A previous version incorrectly showed a post from the UAW.

Writers' strike highlights extra barriers Latinos and writers of color face

Hollywood writers reach tentative deal with studios that would end strike

The dual strikes in Hollywood by writers and actors have wreaked havoc on the industry.

WGA members picket outside Warner Bros. Studio in Burbank, California. Photo: Mario Tama/Getty Images

Labor strikes

Media

The <a class="gtmContentClick" data-vars-link-text="Writers Guild of America" data-vars-click-url="https://www.axios.com/2023/05/03/photos-hollywood-writers-strike-posters" data-vars-content-id="183f7ae6-54e0-4c4f-9057-7c2a61c74d07" data-vars-headline="Hollywood writers reach tentative deal with studios that would end strike" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/05/03/photos-hollywood-writers-strike-posters" target="_self">Writers Guild of America</a> (WGA) announced on Sunday that it had reached a &quot;tentative agreement&quot; with the major Hollywood studios that would bring an end to the <a class="gtmContentClick" data-vars-link-text="146-day strike" data-vars-click-url="https://www.axios.com/2023/05/03/photos-hollywood-writers-strike-posters" data-vars-content-id="183f7ae6-54e0-4c4f-9057-7c2a61c74d07" data-vars-headline="Hollywood writers reach tentative deal with studios that would end strike" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/05/03/photos-hollywood-writers-strike-posters" target="_self">146-day strike</a>. Why it matters: With a deal in hand with the writers, the studios can turn their attention toward cutting a deal with the <a class="gtmContentClick" data-vars-link-text="actors&#x27; union" data-vars-click-url="https://www.axios.com/2023/07/13/sag-aftra-wga-strike-hollywood" data-vars-content-id="183f7ae6-54e0-4c4f-9057-7c2a61c74d07" data-vars-headline="Hollywood writers reach tentative deal with studios that would end strike" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/07/13/sag-aftra-wga-strike-hollywood" target="_self">actors&#x27; union</a> to end the Hollywood labor stoppage for good.

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

Wasserman, a talent agency best known for its representation of athletes, has finalized a deal to acquire Brillstein Entertainment Partners, a prominent Hollywood management and production firm, its CEO tells Axios.

Why it matters: The deal gives Wasserman a much deeper foothold into Hollywood and will allow it to better service its clients as they pursue deals related to content creation.

Details: Brillstein's leadership team will continue to lead the firm under its new ownership. All staff will move over with the acquisition. The firm will retain its name and branding.

Brillstein's client roster includes dozens of stars, such as Brad Pitt, Russell Crowe, Florence Pugh, Seth Meyers, Katy Tur and many others. Brillstein also represents a slew of digital creators, podcasters, gamers and social personalities.

The firm has a standalone TV production business, Brillstein Creative Partners, which currently has a first-look deal with Paramount and projects with multiple streamers.

Wasserman declined to disclose the financial details of the agreement.

State of play: The Hollywood agency space has been one of the biggest M&A hotbeds in media over the past year, with recent deals including:

French billionaire François-Henri Pinault is buying CAA in a deal that values the agency giant at $7 billion. Meanwhile, WME's parent Endeavor just closed its acquisition of WWE.

Agency for the Performing Arts (APA) merged with Artist Group International.

UTA acquired New York-based executive search firm James & Co., which focuses on the media, tech and sports space.

Range Media Partners merged with "La La Land" producer Automatik.

WME bought Washington, D.C.-based literary agency Ross Yoon.

Gersh sold a 45% stake to private equity firm Crestview Partners.

Catch up quick: Wasserman was founded in 1998 and has primarily represented athletes.

In 2021, Wasserman acquired Paradigm Talent Agency's live music business. Last year, the company took an investment from Providence Equity Partners to spearhead more acquisitions.

Between the lines: The deal is also personal. In an interview, Wasserman founder and CEO Casey Wasserman said he's known Brillstein founder Bernie Brillstein his entire life. He and Bernie's son played Little League together.

Casey is the grandson of Hollywood legend Lew Wasserman.

The bottom line: "The world that our clients operate in has grown dramatically. If we truly aspire to be the most relevant and most fundamentally important for our clients, we have to be able to serve them with best-in-class people," he says.

Talent agency known for repping athletes gains a deeper Hollywood foothold

The deal gives Wasserman a deeper Hollywood foothold and will let it better service clients as they pursue content creation deals.

Hollywood

Wasserman, a talent agency best known for its representation of athletes, has finalized a deal to acquire Brillstein Entertainment Partners, a prominent Hollywood management and production firm, its CEO tells Axios.Why it matters: The deal gives Wasserman a much deeper foothold into Hollywood and will allow it to better service its clients as they pursue deals related to content creation.

Pro Rata

Axios Pro Rata

Walt Disney Co. reportedly has discussed selling ABC to local broadcaster Nexstar, while media mogul Byron Allen reportedly has offered $10 billion to Disney for an asset package of which ABC would be the crown jewel.

Why it matters: Disney may have saved the cable bundle earlier this week via its last-minute deal with Charter Communications, but it seems intent on unbundling itself from linear television.

On the record: Disney responded to the reports by insisting it hasn't made any decisions, but acknowledged that it's "open to considering a variety of strategic options."

The bottom line: A local broadcaster like Nexstar or Sinclair is the most likely play for Disney, but the divestitures are going to be wild. Hard to imagine Nexstar can, or should, own both ABC and lots of affiliates of other networks.

Disney might be getting ready to sell ABC

A local broadcaster like Nexstar or Sinclair is the most likely play.

Illustration of two hands grabbing for a Mickey Mouse ears hat surrounded by abstract shapes.

Disney

Walt Disney Co. <a class="gtmContentClick" data-vars-link-text="reportedly" data-vars-click-url="https://www.bloomberg.com/news/articles/2023-09-14/disney-is-said-to-hold-initial-talks-on-sale-of-abc-to-nexstar" data-vars-content-id="55fd5542-0ff8-428c-a1c3-ea694e621e53" data-vars-headline="Disney might be getting ready to sell ABC" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.bloomberg.com/news/articles/2023-09-14/disney-is-said-to-hold-initial-talks-on-sale-of-abc-to-nexstar" target="_blank">reportedly</a> has discussed selling ABC to local broadcaster Nexstar, while media mogul Byron Allen <a class="gtmContentClick" data-vars-link-text="reportedly" data-vars-click-url="https://www.bloomberg.com/news/articles/2023-09-15/byron-allen-makes-10-billion-bid-for-abc-other-disney-networks" data-vars-content-id="55fd5542-0ff8-428c-a1c3-ea694e621e53" data-vars-headline="Disney might be getting ready to sell ABC" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.bloomberg.com/news/articles/2023-09-15/byron-allen-makes-10-billion-bid-for-abc-other-disney-networks" target="_blank">reportedly</a> has offered $10 billion to Disney for an asset package of which ABC would be the crown jewel.Why it matters: Disney may have saved the cable bundle earlier this week via its <a class="gtmContentClick" data-vars-link-text="last-minute deal" data-vars-click-url="https://www.axios.com/pro/media-deals/2023/09/12/disney-charter-deal-bundle-espn" data-vars-content-id="55fd5542-0ff8-428c-a1c3-ea694e621e53" data-vars-headline="Disney might be getting ready to sell ABC" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/media-deals/2023/09/12/disney-charter-deal-bundle-espn" target="_self">last-minute deal</a> with Charter Communications, but it seems intent on unbundling itself from linear television.

Pro football leagues XFL and USFL are in advanced talks to merge, three sources familiar with the situation tell Axios.

Why it matters: Combining the two may be the smartest path forward for the leagues given the challenges and the history of failure for NFL alternatives. 

Details: The merger would be structured as a merger of equals and would require regulatory approval, one of the sources said. The leagues hope to combine before the 2024 seasons.

Fox Corp. owns the USFL, while the XFL is owned by Dwayne "The Rock" Johnson, his business partner Dany Garcia, and RedBird Capital Partners.

Game broadcasts of the combined league are likely to be split between Fox and XFL media partner Disney, according to the source. The USFL also has a broadcast agreement with NBC, although it's not yet been determined if that will continue. 

An announcement of the deal could come as early as this week.

The big picture: Non-NFL pro football leagues have mostly failed to catch on with fans, despite several attempts. 

The original USFL was a competitor with the NFL for talent and managed to lure future stars like Herschel Walker and Steve Young.

More have come and gone, including the Alliance of American Football (AAF) in 2019.

The longest-running spring football league was from the NFL itself with NFL Europe, which served as a developmental league from 1989 to 2007. The league shuttered it in favor of staging their own games overseas.

By the numbers: Fox executives have previously said the USFL has been profitable and had planned to invest more into spring football, while the XFL lost $60 million for its first season under Johnson, Forbes reported. 

Viewership for XFL and USFL games was meager, with each league averaging north of 600,000 viewers for each game. The USFL's championship game drew 1.2 million viewers, while the XFL attracted 1.4 million for its season-ender. 

Catch up quick: The original XFL was launched by WWE's Vince McMahon in 2001 but lasted just one season. McMahon brought back a revamped version of the league in 2020, but it was shuttered by the pandemic midway through its debut season.

Johnson, Garcia and RedBird then bought the league out of bankruptcy later that year for $15 million and relaunched it for a second time this past spring. Dozens of players from their XFL have since been signed to NFL team contracts.

The original edition of the USFL, meanwhile, ran for three seasons in the 1980s and was a rival for talent with the NFL. It folded in 1985. 

Fox launched a new version of the league in 2022. It owns the USFL via National Spring Football League Enterprises Co, a subsidiary of Fox Sports. 

What they're saying: ""We will not comment on rumors and speculation," the XFL said in an emailed statement. Fox did not immediately return a request for comment. 

Editor's note: This story was updated to reflect XFL's comment. 

Scoop: Football leagues XFL and USFL in merger talks

The leagues hope to combine before their 2024 seasons.

XFL owner Dwayne Johnson talks before the Arlington Renegades and the Vegas Vipers XFL game. Photo: Sam Hodde/Getty Images

Football

Pro football leagues <a class="gtmContentClick" data-vars-link-text="XFL" data-vars-click-url="https://www.axios.com/2023/03/29/football-xfl-nfl-viewership-highlights" data-vars-content-id="9c2dbd29-894d-4a9a-85d8-b11820823071" data-vars-headline="Scoop: Football leagues XFL and USFL in merger talks" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/03/29/football-xfl-nfl-viewership-highlights" target="_self">XFL</a> and <a class="gtmContentClick" data-vars-link-text="USFL" data-vars-click-url="https://www.axios.com/2022/04/15/spring-football-usfl" data-vars-content-id="9c2dbd29-894d-4a9a-85d8-b11820823071" data-vars-headline="Scoop: Football leagues XFL and USFL in merger talks" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2022/04/15/spring-football-usfl" target="_self">USFL</a> are in advanced talks to merge, three sources familiar with the situation tell Axios.Why it matters: Combining the two may be the smartest path forward for the leagues given the challenges and the history of failure for NFL alternatives.

Shifts in technology and media are changing the way we play, watch and understand sports. Business models are adapting and social change is forcing those in charge of teams and leagues to reconsider decades-old practices.

Sports

It's never been more confusing, or more expensive, to watch your favorite sports teams as leagues struggle to figure out the best way to reach the most people in a fractured TV ecosystem.

Why it matters: Leagues and media platforms are walking a fine line — trying to follow viewers who are migrating to streaming services without making those fans so frustrated that they skip the games altogether.

Driving the news: The NFL will have dueling "Monday Night Football" games the next two Mondays, one on ESPN and one on ABC, as the league tests out how different kickoff times drive viewership.

Saints-Panthers kicks off at 7:15pm ET on ESPN, while Browns-Steelers gets underway on ABC at 8:15 p.m. 

The following week, ESPN and ABC will swap time slots. 

Then on Dec. 11, ESPN and ABC will each air separate Monday night games at the same time (8:15 p.m. ET).

Zoom in: In addition to Disney's experiments, the NFL's Sunday games are spread across Fox, CBS and NBC. But wait, there's more. 

"Thursday Night Football" is on Amazon Prime Video, which will also carry the first-ever Black Friday game. 

Then NFL Network has a group of exclusive games. 

Disney's ESPN+ streaming service will also get its own exclusive game — on Oct. 1, when the Falcons-Jaguars matchup kicks off at 9:30 a.m. Eastern. And that game will also features a "Toy Story"-themed animated companion telecast on ESPN+ and Disney+.

The big picture: It's not just the NFL. The broader sports landscape is spread out across more platforms and TV networks than ever before, raising the bar for entry for more casual viewers.

Major League Baseball has national TV deals with Apple and Peacock, forcing hardcore baseball fans to pay for two additional streaming services in addition to their TV bill. 

The next NBA rights deal — its current TV deals with Disney and Warner Bros. Discovery expire in 2025 — is widely expected to include additional partners and at least one streaming-only platform.

In college sports, the lust for TV dollars is not only destroying conferences, but also breaking longtime relationships between conferences and TV networks.

Be smart: The legacy TV business is in the midst of an existential crisis that is affecting sports distribution. 

Regional sports networks on cable are dying out, forcing teams to move their games to little-watched broadcast networks to increase reach. 

The Phoenix Suns are moving their games to local stations KTVK and KPHE, and are sending their fans free digital antennas this season. 

The Utah Jazz and NHL's Vegas Golden Knights are also moving their local games to broadcast stations.

Yes, but: It's not all bad. In some cases, the explosion of sports platforms has made games more accessible — as long as fans are willing to pay for it. 

Major League Soccer's deal with Apple gave the league a much bigger media presence than it's had in its 20 years, even as it costs fans $14.99 a month to watch. 

Sunday Ticket's move to YouTube this season made the (still expensive) TV package accessible to non-DirecTV customers or those that lived in apartment buildings. 

Do you know where your TV sports are?

Watching an NFL game is becoming a scavenger hunt.

Illustration of multiple foam fingers pointing in different directions. 

It&#x27;s never been more confusing, or more expensive, to watch your favorite sports teams as leagues struggle to figure out the best way to reach the most people in a fractured TV ecosystem.Why it matters: Leagues and media platforms are walking a fine line — trying to follow viewers who are migrating to streaming services without making those fans so frustrated that they skip the games altogether.

Tim Baysinger

Stories

Hollywood writers reach tentative deal with studios that would end strike

Scoop: Football leagues XFL and USFL in merger talks

Talent agency known for repping athletes gains a deeper Hollywood foothold

Do you know where your TV sports are?

Disney might be getting ready to sell ABC

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Media: ⚽️ A $500M glow up