Distribution
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Spotify Shares Sink 5% as Weak Outlook Overshadows Premium Subscriber Milestone
The music streaming giant reaches a total of 300 million premium subscribers and 777 million monthly active users as of the end of its second quarter
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Business
Available to WrapPRO members
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Paramount Seeks November Warner Bros. Merger Trial While State AGs, WGA Ask for April
The David Ellison-led media giant wants to start as soon as possible, while the states and labor union say they need more time for discovery
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California Gov. Gavin Newsom Encourages State AGs to Settle Paramount-Warner Bros. Merger Lawsuit | Report
The Wall Street Journal reports Newsom is concerned employment in the state could suffer if the $110 billion deal is blocked
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Paramount-WBD: Block the Merger Coalition Members Urge UK Culture Secretary to Intervene
The U.K. Competition and Markets Authority will decide whether to clear the $110 billion deal or launch a more in-depth investigation by Aug. 7
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Amazon Plans to Spend $20 Billion More on AI. Wall Street Loves It
The over 9% gain in the tech giant’s share price stands in contrast to the hit Meta and Alphabet took on their AI investment plans
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Business
Available to WrapPRO members
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Starz, Crunchyroll Launch $16.99 Per Month Bundle Through Prime Video
The offering, which provides savings of more than 23%, includes a mix of premium action, anime, thrillers, female-driven dramas, sci-fi and adventure programming
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Ari Emanuel Urges State AGs to Drop Paramount-Warner Bros. Merger Lawsuit
The WME Group executive chairman says ignoring competition in the streaming market and players like Amazon, A24, Lionsgate, Netflix and YouTube “doesn’t remotely reflect reality”
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HBO Max Gets Into Vertical Video With ‘Shorts’ Feed
The streamer is also rolling out an experimental conversational search experience as it looks to make content discovery easier for users
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Former FCC Chairs Urge Brendan Carr to End ABC Broadcast License Review: ‘An Assault on Free Speech Disguised as Regulatory Process’
They added that the proceeding is a “grave violation of both the Communications Act and the Constitution”
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Is NBCUniversal Really a Buyer After Comcast Split?
TheWrap explores CEO Mike Cavanagh’s options as he takes the company independent
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Deals & M&A
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YouTube to Launch Peacock Premium Bundle in Early 2027
NBCUniversal will also bring Universal+ and Hayu to select international markets through YouTube Premium
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Paramount Agrees to Push Warner Bros. Merger as Far Back as Summer 2027
The state AGs and WGA have withdrawn their requests for a preliminary injunction as they work on a trial start date
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Peacock Finally Turns a Profit Ahead of NBCUniversal Split, But It’s Not Smooth Sailing From Here
Comcast co-CEO Mike Cavanagh warned Wall Street that the streaming service’s profitability would vary quarter to quarter, based on the timing of sports schedules and other content
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Business
Available to WrapPRO members
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State AGs, DirecTV Accuse Nexstar of Violating Preliminary Injunction With Tegna Board Appointment
They argue that further integration would allow the combined company to “control and raise prices, fire journalists and dominate the broadcast media landscape”
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Paramount-Warner Bros. Merger Cleared by European Commission With Conditions
The approval comes as the deal was paused by a lawsuit from 12 state AGs in the U.S.
