In a move that shocked the media industry, Bob Iger said Tuesday he would step down from his role as CEO of the Walt Disney Company after leading the entertainment giant to unprecedented success during his 15-year run in the job.

Why it matters: Iger is credited with having successfully led Disney through a series of risky but highly successful acquisitions that not only solidified the company's entertainment dominance, but also ultimately reshaped the entire media landscape.

Minute Media, a holding group that owns digital sports and entertainment websites like Players' Tribune and The Big Lead, announced Wednesday that it has raised $40 million in venture capital in its latest fundraising round. Sources tell Axios that the company's post-money valuation is more than $500 million. It's raised $160 million to-date.

Why it matters: Minute Media is hoping to expand its business by selling publishing software as a service, not just by monetizing content.

Netflix said Monday that it will begin putting out daily lists of the top 10 movies and top 10 TV shows in each country.

Why it matters: The company says that the lists will help users "easily see what’s in the zeitgeist," but industry onlookers argue that by releasing the lists, Netflix is undermining its almighty algorithm, which is supposed to surface personalized content recommendations for users.

Report for America (RFA), a program of the nonprofit The GroundTruth Project, which supports emerging journalists, helped newsrooms raise nearly $1 million in local fundraising donations last year, executives tell Axios.

Why it matters: Support from donors for local news is becoming more critical as the Trump administration looks to severely cut funds for public media.

A few of the last remaining major ad-supported streaming platforms are reportedly nearing sales to major media companies.

Why it matters: The acquisitions show how valuable big media companies think ad-supported streaming services could be to their overall streaming strategies, as they continue to also invest in subscription streaming offerings.

Shares of the newly-combined ViacomCBS dropped a startling 15% last week, after the company announced plans for a new streaming service during its first earnings report as a combined entity.

Why it matters: The company is now worth far less combined ($17 billion in market capitalization) than the two companies were worth separately (around $30 billion) prior to their merger.

The gap between Democrats and Republicans in their trust of media and business as institutions remains wide ahead of the election, according to Edelman's latest Global Trust Barometer study.

The state of play: The gap is wide for media trust — as 66% of Democrats trust it, while only 33% of Republicans feel the same. Independents sit at 43%.

Bernie Sanders' rise is forcing news outlets to come to terms with ways they should covering his candidacy as a frontrunner, instead of a fringe candidate.

Why it matters: The media finds itself in the same position as it was in the 2016 election, when Donald Trump began to pull ahead in the Republican primary.

Univision, the largest Spanish-language broadcaster in the United States, announced plans Tuesday to sell the majority of its company to a group of investors led by former Viacom CFO Wade Davis. Deal terms were not disclosed.

Why it matters: The company had been struggling to find a strategic buyer since it said it was putting itself up for sale last year.

Blue Wire, a new sports podcast company, has raised $1.2 million in a seed round, sources tell Axios.

Why it matters: Blue Wire is looking to build out long-form sports narrative podcasts. The company believes that while sports highlights will continue to be mostly viewed via short video clips, more long-form sports media consumption will eventually shift to podcasts from traditional radio and print.