DEAL ALMOST DONE
AT&T and Time Warner continue to rack up international approvals for their proposed $85 billion merger and can now check Chile’s OK off the list. Recent reports have indicated that the deal is in the final stages of the approval process.
GERMAN MEDIA GROUP AXEL SPRINGER SAYS ITS UPDAY NEWS APP HAS 13 MILLION USERS
This growth is partly because Upday is available in 16 European countries, where it now has eight editorial hubs, twice the number of hubs it launched with in March 2016. Upday has roughly 50 editorial staffers, double the amount in February, split across its eight European editorial hubs, who verify news and add a local editorial focus to the top global trending stories. Its Berlin headquarters employs around 25 developers and 25 sales and marketing workers.
DAZED RELAUNCHES WEBSITE WITH MOBILE IN MIND OF COURSE
Dazed Media, the fashion and youth culture network that publishes Dazed, Another and Hunger magazines, today relaunched its web site dazeddigital.com. The new site is a complete overhaul, with an updated layout, individual designs for each section and an improved user interface.
TIME INC’S MARKET VALUE IS ALMOST UNDER $1 BILLION
Just a few months ago during the bidding process to buy Time Inc, the company’s market value was about $1.8 billion. Since calling off the sale, the company’s stock price has been moving up and down, mostly down and taking the market value with it. Today the company’s market value is $1.2 billion a big drop since the Bronfman offer was made public.
YOUTUBE IS LOOKING TO TAKE ON HBO
YouTube chief business officer Robert Kyncl has one regret about YouTube Red, the Alphabet-owned video company’s fledgling subscription service. In his mind, YouTube, not HBO, should be making “Insecure,” the acclaimed scripted sitcom chronicling the lives of a group of young, single African Americans in Los Angeles.
QUARTZY, A NEWSLETTER FROM QUARTZ IS BEING LAUNCHED AS A LIFESTYLE VERTICAL BY YEAR END
The Atlantic Media-owned site will launch “Quartzy,” a style and fashion-focused vertical in early November, and a management vertical called “At Work” in October. Those verticals allow for the company to court new advertisers, as well as to potentially dip into live events and e-commerce, among other things. (Speaking of e-commerce, Quartz also released a book today called “The Objects That Power the Global Economy,” which sells on its web site for $35. More on that later.)
THE ATLANTIC IS LAUNCHING A NEW PREMIUM $100/YEAR SUBSCRIPTION OFFER CALLED “THE MASTHEAD”
Benefits include a digital subscription to the magazine (which is now being advertised for $24.50 a year); a daily newsletter with exclusive content; extended reporting around the monthly cover story; access to a members-only Facebook group; weekly conference calls with Atlantic editorial staffers like editor-in-chief Jeffrey Goldberg and journalists David Frum and Julia Ioffe; and discounted tickets to Atlantic events.
IS FACEBOOK INFLATING ITS AD REACH?
Facebook inflates the number of people who can see the advertisements on its platform, a Pivotal Research Group analyst said in a note. Facebook’s Ads Manager claims a potential reach of 41 million 18- to 24-year olds and 60 million 25- to 34-year olds in the United States, whereas U.S. census data shows that last year there were a total of 31 million people between the ages of 18 and 24, and 45 million in the 25-34 age group, the analyst said.
TEXAS MONTHLY MAGAZINE PLEDGES SUBSCRIPTION PROCEEDS TO HARVEY RELIEF
In the face of the catastrophic devastation that faces Texas and Louisiana after Hurricane Harvey, Texas Monthly announced last night that it plans to donate 100 percent of its new subscription proceeds (for the 24-hour period following the announcement) to relief efforts, closing at midnight Thursday night.
FACEBOOK OFFERING HUNDREDS OF MILLIONS TO MUSIC LABELS
Facebook is offering major record labels and music publishers hundreds of millions of dollars so the users of its social network can legally include songs in videos they upload, according to people familiar with the matter. The posting and viewing of video on Facebook has exploded in recent years, and many of the videos feature music to which Facebook doesn’t have the rights. Under current law, rights holders can ask Facebook to take down videos with infringing material.
AMERICAN MEDIA INC NOW OWNS 100% OF THE MR. OLYMPIA COMPETITION
American Media, Inc. (AMI) Chairman and CEO David J. Pecker, Weider Health & Fitness CEO and IFBB Professional League (IFBB Pro League) President Emeritus Eric Weider and IFBB Pro League President Jim Manion, today announced that they have reached an agreement for AMI to purchase from IFBB Pro League its half of the Mr. Olympia joint venture with AMI becoming the sole owner.
JUST IN TIME FOR THE START OF FASHION WEEK SNAPCHAT LAUNCHES FASHION REALITY SHOW
As Snapchat looks to grow its stable of original series, it has set its sights on beauty and fashion content. The platform’s latest original will feature two aspiring stylists competing against one another to style the perfect look based on a given theme. The reality series will be hosted by celebrity stylist Sophie Lopez (the stylist for actress Kate Hudson among others), who will critique their final looks, offer tips on what styles to buy as well as how to wear them.
NOT EVEN AN MTV REBOOT CAN MAKE VIACOM COOL
Viacom, which owns networks like MTV, Nickelodeon and Comedy Central, has been promising investors a reboot. But one analyst thinks the company is already too far behind, and tinkering with content won’t change the fact that it doesn’t have a solid streaming strategy.
CAN THE FOUNDER OF CNN’S VIDEO APP REVIVE NEWS TRUST?
Casey Neistat sold his social video news-sharing app Beme to CNN for $25 million. He’s not a journalist, he just wants to show billions of viewers what’s going on in the world. “If labeling ‘fake’ is a way of dismissing news, the way we want to avoid that altogether is to always have it be personality-driven content,” he said.
AFTER BEING ABSORBED BY TRONC, CUTS ARE ABOUT TO HAPPEN AT NEW YORK DAILY NEWS
Tronc, the new owner of Mort Zuckerman ’s beleaguered New York Daily News, has said it expects to turn the money-bleeding tabloid into a money maker by 2018 — even as its loss this year could reach $50 million. More cuts are likely as Tronc tries to keep its profit levels secure.
MIC MAY BE COMING TO TV
Mic is hoping to be picked up by cable. The Millennial-focused news site is in discussions with several companies that sell so-called “skinny” bundles of cable channels to offer a channel of Mic-produced videos. If successful, Mic would join Cheddar and Vice as new-media firms that have tapped the cable TV market for revenue.