Gray Television to Acquire Meredith TV Stations for $2.7 Billion
Variety reports: “Atlanta-based Gray Television has reached a deal with Meredith Corp. to acquire 17 TV stations for $2.7 billion.”
Verizon Selling Yahoo, AOL and Media Assets for $5B to Private Equity Firm Apollo
The Hollywood Reporter reports: “Verizon is exiting the media business. The telecom giant is selling Yahoo, AOL and the remainder of its Verizon Media brands to the private equity firm Apollo Global Management in a $5 billion deal announced Monday.”
Jay-Z Finalizes Tidal Sale to Jack Dorsey for $350m… as Platform Boasts of Paying ‘4x More per Stream’ Than Rivals
Music Business Worldwide reports: “The acquisition was for more money than expected, according to TMZ, which reports that Square paid $350 million to buy an 80% stake in TIDAL.”
Coinbase now lets you buy cryptocurrency with your PayPal account
The Verge reports: “Coinbase has added the option for users to buy cryptocurrency using their PayPal accounts in the US, the company has announced.”
Hulu Finally Adds ViacomCBS Networks to Live TV Service
Variety reports: “Hulu, more than four years after launching its live TV service, has added ViacomCBS’ cable networks to the lineup.”
TikTok Names New CEO and Chief Operating Officer
Variety reports: “TikTok announced a new CEO and COO, in what its Chinese parent company ByteDance said was “a strategic reorganization” to optimize the popular short-form video app’s global teams and support its continued growth.”
European Authorities Accuse Apple of Distorting Music Streaming Market
The Hollywood Reporter reports: “Antitrust authorities in the European bloc have filed charges that could bring multibillion-dollar fines. The new case comes on the verge of a huge trial between Epic Games and Apple.”
Warner Music Group Partners With Tech Company Genies To Develop Avatars and NFTS for WMG Artists
Music Business Worldwide reports: “Warner Music Group (WMG) has inked a global partnership with Genies, which dubs itself “the world’s largest avatar technology company”. The deal will see the two companies develop avatars and digital wearable NFTs for WMG artists.”
Endeavor Stock Debuts on NYSE, Testing Investors’ Appetite for Independents in Content Business
Variety reports: “Endeavor has made its entrance on Wall Street. Endeavor Group Holdings, home of UFC, WME and IMG, went public on Thursday with its listing on the New York Stock Exchange under the ticker symbol EDR.”
Facebook will spend $5 million paying reporters to join its local news platform
The Verge reports: “Facebook says it will spend $5 million paying local journalists on a new publishing platform. Reuters reported the news on Thursday, saying independent journalists could begin applying for the program today.”
