May 24, 2017

Facebook signs deals with Buzzfeed, Vox for original shows

Noah Berger / AP

Facebook has signed deals with Vox Media, BuzzFeed, ATTN, Group Nine Media, and others to make shows for its video service, per Reuters. Facebook will not own the videos, which will range from 5-30 minutes, although it will own longer, scripted shows, for which it will pay up to $250,000. It will give show creators 55% of ad revenue.

Why it matters: Facebook is trying to gobble up more ad dollars by pushing out original content. Note: Facebook has been late to the content game. Platform competitors like Twitter, YouTube, and Snap have all been aggressively rolling out exclusive content deals with TV networks and investors have been waiting to hear from Facebook since they announced in February they would be producing and licensing original content.

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#MeToo gets Weinstein

A man carries out Weinstein's walker. Photo: Johannes Eisele/AFP/Getty Images

Hollywood titan Harvey Weinstein is now a convicted rapist, two years and four months after accusations against him helped ignite the #MeToo movement.

Why it matters: To date, #MeToo has resulted in hundreds of powerful men losing their jobs. Seven have been criminally convicted, with four others still facing charges.

JPMorgan Chase to pull support for some fossil fuels

Illustration: Sarah Grillo/Axios

JPMorgan Chase said Monday that it won’t directly finance new oil and gas development in the Arctic and will significantly curtail its financing of the extraction and burning of coal.

Why it matters: JPMorgan is the world’s largest funder of fossil-fuel companies, according to a report by the Rainforest Action Network (RAN). The announcement follows similar moves by other big banks and investment firms, including Goldman Sachs and BlackRock.