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BFD Expert Voices - Media Deals

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

Situational awareness: Newsmax settled a defamation lawsuit brought by voting-machine company Smartmatic, avoiding a high-profile trial over the airing of 2020 election falsehoods.

Sept. 23 — Fresh off its landmark AI deal with Lionsgate, Runway is already eyeing further Hollywood partnerships, its CEO Cristóbal Valenzuela told Axios.

Why it matters: The deal between Lionsgate and Runway is the first time a Hollywood studio has allowed an AI firm to access its IP library.

Go deeper: Read Monday's newsletter, plus Monday's Pro Rata on Qualcomm reportedly wanting to buy Intel.

Runway for more AI deals

Photo illustration of the Hollywood sign spelled partially with binary code

Photo illustration: Annelise Capossela. Photo:  Frederic J. Brown/AFP via Getty Images

Sept. 23 — KKR raised a $4.6 billion fund, yet another haul for the private equity pioneer to send across the U.S. and an amount specifically aimed at midsize companies.

Why it matters: One of the target industries for this pot of money is media, the firm said in a statement.

Ascending upon your industry

Illustration of two people shaking hands on a giant stack of money. 

Sept. 24 — TikTok will shut down its music-streaming platform, TikTok Music, the company announced on its website.

Why it matters: The product decision comes as the company fights against a bill that would require its Chinese parent company, Bytedance, to divest it or end up banned in the U.S.

Go deeper: Read Tuesday's newsletter, plus Tuesday's Pro Rata on the stock market defying election uncertainty.

🎶 Please don't stop the music

Illustration of a gramophone playing music with Tik Tok’s logo.

Sept. 25 — Music community startup Mellomanic believes it's well equipped to aid in the music industry's renewed focus on strengthening the relationship between artists and their fanbases.

Why it matters: As streaming growth slows down, the focus is shifting toward getting more value out of hardcore fanbases.

Go deeper: Read Wednesday's newsletter, plus Wednesday's Pro Rata on drugmaker Sanofi receiving binding offers for its consumer health business from both PAI Partners and Clayton Dubilier & Rice.

Rise of the superfans

Photo illustration of Mellomanic Andy Apple CEO next to blocks of color and the Mellomanic logo repeated on guitar-like strings

Mellomanic CEO Andy Apple.  illustration: Axios Visuals. Photo: Courtesy of Mellomanic

Sept. 25 — Koch Inc.'s private equity arm is in ongoing talks on a bid to buy Forbes in partnership with another individual investor, sources told Axios.

Flashback: Koch Equity Development (KED) has a history of successful media investments, including its 2017 deal to back Meredith's acquisition of Time Inc. with $650 million and its 2018 and 2019 investments in Getty Images worth $550 million.

Another Forbes suitor

Koch Industries Inc. headquarters in Wichita, Kansas, in 2005. Photo: Larry W. Smith/Bloomberg via Getty Images

Sept. 26 — Equativ, the French ad tech company backed by Bridgepoint, has acquired media platform Kamino Retail, Axios learned.

Why it matters: The deal comes as retail media is expected to grow 22% to $140 billion globally in 2024, per eMarketer.

Go deeper: Read Thursday's newsletter, plus Thursday's Pro Rata on OpenAI's board discussing a major corporate restructuring.

Exclusive ... Retail media M&A

Illustration of a cursor arrow with a retail price tag

🐠 Natalie visited the Seattle Aquarium's new Ocean Pavilion last weekend and witnessed an otter screaming to everyone's (mostly children's) delight — she learned otters often scream when they're excited.

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

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

1. Runway for more AI deals

2. Ascending upon your industry

3. 🎶 Please don't stop the music

4. Rise of the superfans

5. Another Forbes suitor

6. Exclusive ... Retail media M&A

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September 27, 2024

1. Runway for more AI deals