All Media stories

Jul 19, 2021 - Economy & Business

CNN to hire hundreds of journalists for new streaming service CNN+

CNN

CNN Worldwide President Jeff Zucker on Monday said the company plans to launch its new streaming service called CNN+ in the first quarter of 2022, sources on the company's editorial call tell Axios. The company publicly announced the news minutes later with more detail.

Why it matters: CNN is committing to building out a standalone streaming news operation, after a few failed attempts at creating a standalone streaming app with original content, most notably CNN Pipeline.

Dan Primack, author of Pro Rata
Jul 19, 2021 - Economy & Business

Bill Ackman's SPAC walks away from Universal Music Group deal

Pershing Square Tontine (NYSE:PSTH), the record-breaking SPAC formed by Bill Ackman, walked away from its agreement to buy a 10% stake in Universal Music Group from Vivendi at a $40 billion enterprise value.

Why it's the BFD: Ackman was too clever by half, raising the hackles of both regulators and shareholders in his SPAC (whose value was down more than 17% since the Universal announcement). Walking away also means the end of Tontine's plans to form what it called a SPARC, or special purpose acquisition rights company, seeded with cash that wasn't going to Universal and intended to buy another company.

Kendall Baker, author of Sports
Jul 19, 2021 - Economy & Business

LeBron James' storytelling future with SpringHill Company

Photo: Matt Winkelmeyer/WireImage via Getty Images

LeBron James' media venture, SpringHill Company, is exploring a possible sale in the $750 million range, per The Information (subscription) — and Nike is among the potential suitors.

Between the lines: SpringHill has 120 employees and three businesses: Springhill Entertainment (production company), Uninterrupted (athlete empowerment brand) and The Robot Co. (marketing agency).

Jul 16, 2021 - Economy & Business

CBS Evening News head departs amid management reorg

Photo: Mark Kauzlarich/Bloomberg via Getty Images

CBS Evening News executive producer Jay Shaylor is exiting amid reorganization of the show's management, sources tell Axios.

Why it matters: It's the second major leadership shakeup at the show in the last few years. The program has struggled for years to compete for ratings with evening news at ABC and NBC.

Netflix hires Oculus and EA veteran Mike Verdu to lead game development

Photo: Netflix

Netflix has tapped gaming veteran Mike Verdu to serve as VP of game development, a hire first reported by Bloomberg.

Why it matters: This is the first move in its new gaming initiative that the company Netflix has acknowledged specifically.

Jul 14, 2021 - Economy & Business

The New York Times hires Jason Sobel as chief technology officer

Photo: The New York Times

The New York Times has hired Jason Sobel, previously the head of infrastructure at Airbnb, as its new chief technology officer.

Details: Sobel will report directly to the company’s chief executive officer, Meredith Kopit Levien, per a statement. Before Airbnb, Sobel worked at Facebook for six years.

Jul 14, 2021 - Economy & Business

Facebook to invest over $1 billion in content creators through end of 2022

Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images

Facebook CEO Mark Zuckerberg said Wednesday that Facebook and Instagram plan to together invest over $1 billion in creators through the end of 2022. 

Why it matters: This is by far Facebook's biggest investment in attracting creators to its platform to-date.

Jul 14, 2021 - Economy & Business

Exclusive: Outside acquires Pinkbike, Cycling Tips, Trailforks

Photo: Dmytro Aksonov via Getty Images

Outside Media, home to dozens of outdoor enthusiast brands, is acquiring two new titles, Pinkbike and Cycling Tips, as well as Trailforks, a trail mapping app.

Why it matters: The deals will help further cement Outside’s coverage of cycling and bolster its mapping tools.

Jul 13, 2021 - Economy & Business

Disney, HBO edge out Netflix in Emmy nominations

Ron Cephas Jones speaks during the 2021 prime-time Emmy nominations announcement. Photo: Getty Images

HBO and HBO Max led all Hollywood studios with 130 nominations for the 73rd annual Emmy awards, the Television Academy said Tuesday. If you add up the nominations for networks owned by Disney, including Disney+, Hulu, FX, Nat Geo, and ABC, the company topped HBO and HBO Max with 146 nominations.

Why it matters: It's an important milestone for both companies, which are now competing with several tech giants for TV eyeballs, including Netflix, Apple and Amazon. Netflix took home 129 nominations.

Jul 13, 2021 - Economy & Business

Gabriel Snyder launching media company that will cover media business

Photo credit: Gabriel Snyder

Gabriel Snyder, formerly of The New Republic and The Atlantic, is launching a new daily media newsletter that will cover the media business in New York City.

Why it matters: The media beat has gotten more competitive over the past few years as independent journalists and media companies launched dozens of new newsletters analyzing the business.