Business
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Inside Skydance Media’s Financials: David Ellison’s Studio Has Mostly Lost Money Since 2021
The private company, valued at $4.75 billion in its $8 billion Paramount merger deal, relies on licensing deals with Netflix and Apple, an SEC filing reveals
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Amazon to Shut Down Freevee in Consolidation to Prime Video
Original series like “Jury Duty” and “Bosch: Legacy” will remain on Prime Video without a paywall
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Spotify’s Q3 Profit Quadruples as Streamer Tops 250 Million Subscribers
The music streaming giant boosted subscribers by 12%, or 6 million, to hit 252 million during the quarter.
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Media
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Paramount Shareholder Mario Gabelli Asks FCC to Pause Skydance Deal to Internally Review Potential ‘Violations’
The letter comes after the GAMCO Investors Inc. chairman filed a books and records request seeking more specifics about the $8 billion merger deal
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The CW Lays Off Over 2 Dozen Employees Across Scripted, Publicity Divisions
The network’s cuts come amid a shift towards sports and unscripted content
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UTA News Co-Heads Urge Media Vets to Be ‘Multi-Platform’ to Survive Shifting Landscape
Office With a View: Marc Paskin and Ryan Hayden predict more journalists will strike a balance between traditional news outlets and independent platforms
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Office With a View
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EchoStar Sheds 43,000 Pay TV Subscribers, Adds 145,000 Sling TV Subscriptions in Q3
The Dish parent has entered into an agreement to sell the satellite TV giant to rival DirecTV in a deal for $1 and $9.75 billion in debt
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Disney Expands CEO Search to External Candidates, Including EA’s Andrew Wilson
The entertainment giant plans to announce Bob Iger’s successor in early 2026
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Netflix’s Ad Tier Explodes to 70 Million Monthly Users Globally
The milestone for the streamer comes as it sold out in-game inventory for its Christmas Day NFL games
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MyFree DirecTV Launches With Over 70 FAST Channels
Sign-ups for the FAST service launch on Roku start today and will be available across Amazon Fire, Android and Apple devices this week, as well as via the DirecTV app
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Chris Wallace Quits CNN to Pivot to Streaming, Podcasting
The veteran journalist is ending his three-year tenure at the network to be “where the action seems to be”
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Endeavor to Sell OpenBet, IMG Arena in $450 Million Management Buyout Backed by Ari Emanuel
The deal, which also includes participation from executives including OpenBet CEO Jordan Levin, will be financed through a mix of cash and debt
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Founder Henry Blodget Set to Leave Business Insider’s Board
He previously stepped down from his role as CEO in 2023
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Sony Raises 2024 Sales Outlook As Gaming Boosts Q2 Revenue to $19 Billion
The company posted a 69% increase in net income and 3% boost in revenue for its second quarter of 2024, weighed down by lower results at Sony Pictures Entertainment
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AMC Networks’ Profit Drops 35% Due to Challenging Ad Market and Decrease in Affiliate Business
Streaming subscribers grew 5% in the third quarter of 2024 and now total 11.8 million
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