A 3,000-word Washington Post investigative story about new publisher and CEO William Lewis plus an incoming top editor had this surprising sentence: Lewis "declined to comment through a Post spokesperson in response to a list of detailed questions" — from his own reporters.
Why it matters: The storied Post newsroom is in an uproar over Lewis' handling of several internal controversies over the past two weeks.
Private equity is still thirsting for bottled water,three years after One Rock Partners and Metropoulos & Co. carved Poland Springs and other brands out of Nestlé for $4.3 billion.
The latest: The former Nestlé unit, now called BlueTriton, has agreed to a reverse merger with Primo Water, whose brands include Mountain Valley and Crystal Springs.
Fisher Investments, the money management firm founded by Ken Fisher, has agreed to sell up to a $3 billion minority stake to private equity firm Advent International and sovereign wealth fund Abu Dhabi Investment Authority.
The big picture: Advent agreed to not sell its position for what Fisher called an "atypically long holding period for a private equity transaction," even though any holding period requirement is unusual for private equity transactions.
New York Times CEO and president Meredith Kopit Levien declined to say whether the company would recognize The Athletic's union if staffers choose to form one, speaking to Axios at the 2024 Cannes Lions Festival of Creativity on Monday.
Why it matters: The Athletic editorial staffers are mulling an effort to unionize, Axios first reported last month, as the sports media brand becomes more integrated into the larger company.
JDH, the private equity firm that offered to buy Vista Outdoor's ammunition business last week, has withdrawn that offer, the company said Monday.
Why it matters: Vista now has just one offer for its ammo business, a $1.96 billion agreement signed last year that has yet to receive U.S. government approval.
The latest drama enveloping Paramount Global will come as no surprise to anyone who has been paying attention to the once-storied Hollywood relic as it has lurched from crisis to catastrophe over the past 20 years.
Why it matters: Paramount is already a shadow of its former self. Eventually, what's left will barely be worth fighting over.
First came "Barbie," then came Pixar's "Inside Out 2." Between them they represent a devastating 1-2 punch against the idea that family-friendly theatrical blockbusters are dead and that, in a streaming-dominated world, the only thing capable of getting butts in cinema seats is a big-screen spectacle like "Top Gun," "Dune," or (perhaps) "Oppenheimer."
Why it matters: The decline of once-great studios like Paramount should not be taken as a sign of Hollywood's global irrelevance. Inside Out 2 is proof that Hollywood — and only Hollywood — can turn a movie into a must-see global event.
