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How a Tiny Chicago News Organization Won 2 Pulitzers
  + stars: | 2024-05-06 | by ( Benjamin Mullin | ) www.nytimes.com   time to read: +1 min
When Jamie Kalven met Yohance Lacour in 2017, the two men quickly realized they had something important in common. Mr. Kalven, the founder of the Invisible Institute, a nonprofit Chicago newsroom, was working in Chicago’s Stateway Gardens housing development in 1997 when a vicious hate crime wounded the community there deeply. And Mr. Lacour helped a local newspaper cover that story at the time. Mr. Lacour’s podcast won one of two Pulitzers this year for the Invisible Institute, a small, crusading newsroom on Chicago’s South Side known for holding city authorities to account. The other prize, for local reporting, went to the organization’s data director, Trina Reynolds-Tyler, who reported an investigative series on missing Black girls and women in Chicago.
Persons: Jamie Kalven, Yohance Lacour, Kalven, Lacour, Kalven’s, , Trina Reynolds, Tyler Organizations: Invisible Institute, Monday Locations: Chicago
Kim Godwin, the president of ABC News, told employees on Sunday night that she was retiring, capping a tumultuous tenure marked by infighting, damaging leaks and a major shake-up of the news division’s leadership ranks. In an email to employees, Ms. Godwin said that she reached her decision to leave after a period of “considerable reflection.” In a separate note to employees, Debra O’Connell, a longtime Disney executive, said she would be overseeing ABC News. “Anyone who’s passionate about what we do knows there’s no other business like it, so this was not an easy or quick decision,” Ms. Godwin said in her note. “I’m certain it’s the right one for me as I look to the future and prioritize what’s most important for me and my family,” she added. Ms. Godwin, the first Black woman to run a broadcast news division, has had a rocky tenure atop ABC News.
Persons: Kim Godwin, Godwin, Debra O’Connell, ” Ms, Organizations: ABC News, Disney, ABC
Paramount has decided to formally open negotiations with a bidding group led by Sony Pictures Entertainment and the private equity giant Apollo, according to three people familiar with the matter. The move comes after a period of exclusive talks with the Hollywood studio Skydance lapsed on Friday night. A special committee of Paramount’s board of directors met Saturday and signed off on beginning deal talks with Sony and Apollo, which last week submitted a letter of interest valuing the company at $26 billion, the people said. The committee also decided to push for further negotiations with Skydance, a studio founded by the technology scion David Ellison. Any deal between the Sony group and Paramount faces hurdles.
Persons: David Ellison Organizations: Paramount, Sony Pictures Entertainment, Hollywood, Sony, Skydance, Nickelodeon, MTV, CBS, Paramount Pictures Locations: Japan, United States
The development throws up a major roadblock for Skydance, a movie studio that has been negotiating a complicated deal to merge with Paramount for months. Many Paramount investors have come out against that deal, saying it would enrich Shari Redstone, the company’s board chair, at the expense of other shareholders. The 30-day period for exclusive talks with a special committee of Paramount’s board expires at the end of Friday. The company could wait for Paramount to re-engage in negotiations, could make a higher bid or could walk away. The company is wary of being used by Paramount to drive up the price for another bidder.
Persons: Shari, David Ellison Organizations: Paramount, Hollywood, MTV, Nickelodeon, RedBird Capital Partners, Sony Pictures Entertainment, Apollo Global Management
Sony Pictures Entertainment and the private equity giant Apollo Global Management have formally expressed interest in acquiring Paramount for roughly $26 billion, according to two people familiar with the matter, a move that adds drama to an already chaotic deal making process. The nonbinding expression of interest, sent in a letter this week, comes as Paramount approaches an agreed-upon Friday deadline for the expiration of an exclusive negotiating period with Skydance, a Hollywood studio run by the tech scion David Ellison. Paramount has been in talks with Skydance for months, discussing a complicated transaction that would involve a merger and an investment from the private equity firm Redbird Capital Partners. The new, joint expression of interest would make Sony a significant majority and controlling shareholder and Apollo a minority shareholder. The proposed all-cash acquisition may appeal to Paramount shareholders who have come out against the Skydance deal over concerns it benefits the company’s controlling shareholder, Shari Redstone, at the expense of others.
Persons: David Ellison, Skydance, Shari Redstone Organizations: Sony Pictures Entertainment, Apollo Global Management, Paramount, Redbird Capital Partners, Sony Locations: Apollo
NPR declined to comment, but Ms. Maher may have a scheduling conflict. According to an agenda of NPR’s upcoming board of directors meeting, Ms. Maher is scheduled to convene with NPR’s board all day on May 8. Mr. Berliner’s essay has generated vociferous pushback from many employees at NPR, who say that many of his points were factually inaccurate. In one post, from 2018, Ms. Maher called Mr. Trump a “racist”; another from 2020 showed her wearing a hat with the logo of the Biden campaign. NPR has said that Ms. Maher, the former chief executive of Wikimedia, wasn’t working in news at the time she made the posts, and added that she was exercising her First Amendment right to free expression.
Persons: Maher, Uri Berliner, Berliner, Hunter, Tony Cavin, NPR’s, Robert S, Mueller III, hewed, Donald J, Trump, Biden Organizations: NPR, Trump, Wikimedia
With the fate of Paramount hanging in the balance, its leading suitor has just upped the ante. Skydance also offered to give Paramount shareholders a larger stake in the combined company than it had initially proposed. The vociferous pushback by investors, combined with the complicated nature of the transaction, means the Skydance deal could still fall apart, people familiar with the process said. Paramount has been in deal discussions with the movie studio Skydance for months, after Ms. Redstone decided late last year to consider a sale for her media empire. Since then, the company has entertained interest from suitors including Apollo, the private-equity giant, and Skydance, which is proposing a merger.
Persons: Skydance, Shari, Redstone Organizations: Paramount
Bob Bakish, the chief executive of Paramount, is stepping down effective immediately, the company announced on Monday, a stunning shake-up in the top ranks of the company as it considers a major merger. Mr. Bakish, 60, will be replaced by an “office of the C.E.O.” run by three executives: Brian Robbins, head of the Paramount movie studio; George Cheeks, chief executive of Paramount’s CBS division; and Chris McCarthy, chief executive of Showtime and MTV Entertainment Studios. Like many media companies, Paramount has struggled in recent years to get its streaming business off the ground as audiences for its cable channels have diminished. In recent months, the company has been in discussions to merge with Skydance, a media company run by the tech scion and Hollywood executive David Ellison. Shari Redstone, Paramount’s controlling shareholder, has already signed off on a potential deal for her stake, but the company’s directors have yet to reach an agreement for the whole company.
Persons: Bob Bakish, Bakish, Brian Robbins, George Cheeks, Chris McCarthy, Bakish’s, David Ellison, Shari Redstone Organizations: Paramount, Paramount’s CBS, Showtime, MTV Entertainment Studios
Paramount is preparing to announce the departure of its chief executive, Bob Bakish, as soon as next week, according to three people with knowledge of the matter, a sudden development that would come even as company is exploring a merger. Ms. Redstone grew frustrated with what she saw as his inability to get important deals across the finish line, including a sale of the Showtime and BET cable channels, the people said. The company is in talks to merge with Skydance, a media company controlled by the tech scion and Hollywood producer David Ellison. It is also negotiating a lucrative deal to keep channels like Nickelodeon and MTV on the Charter cable system. The Wall Street Journal earlier reported that Paramount’s board was considering replacing Mr. Bakish.
Persons: Bob Bakish, Bakish’s, Shari Redstone, David Ellison, Bakish Organizations: Paramount, Showtime, BET, Nickelodeon, MTV, Street
Inside the Crisis at NPR
  + stars: | 2024-04-24 | by ( Benjamin Mullin | Jeremy W. Peters | ) www.nytimes.com   time to read: +1 min
NPR employees tuned in for a pivotal meeting late last year for a long-awaited update on the future of the public radio network. After many tumultuous months, marked by layoffs, financial turbulence and internal strife, they signed in to Zoom hoping to hear some good news from NPR’s leaders. What they got instead was a stark preview of the continued challenges ahead. For the past two weeks, turmoil has engulfed NPR after a senior editor assailed what he described as an extreme liberal bias inside the organization that has bled into its news coverage. The editor, Uri Berliner, said NPR’s leaders had placed race and identity as “paramount in nearly every aspect of the workplace” — at the expense of diverse political viewpoints, and at the risk of losing its audience.
Persons: Daphne Kwon, Uri Berliner Organizations: The New York Times, NPR Locations: America
"TikTok allows small businesses and creators to find their people in their community," Nichols told CNBC, ahead of the bill's signing. watch nowNichols joined a number of other TikTok creators in traveling to the Capitol to oppose a potential ban. TikTok creators and influencers, living far out of the realm of politics, have a very different concern. Tony Youn, a plastic surgeon with 8.4 million TikTok followers, said finding a big audience is difficult. WATCH: Senator Markwayne Mullin talks passage of Tiktok ban
Persons: Craig Hudson, Ophelia Nichols, Nichols, Biden, TikTok didn't, Shou Zi Chew, TikTok, Markwayne Mullin, CNBC's, Mullin, they'll, Zi Chew, Sen, John Fetterman, Anna Moneymaker, livestreams, Adam Mosseri, Tony Youn, Youn Organizations: Foreign, Capitol, Washington , D.C, CNBC, Oxford, TikTok, America Survey, Lawmakers, Communist Party, Russell Senate, ByteDance, Getty, YouTube, Meta, Facebook Locations: Washington , U.S, Alabama, Washington ,, Israel, Ukraine, Taiwan, It's, American, U.S, TikTok, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSenator Markwayne Mullin talks advancement of TikTok forced sale billHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Markwayne Mullin, Brian Sullivan, Organizations: CNBC
Sony in Talks to Join a Bid to Buy Paramount
  + stars: | 2024-04-18 | by ( Benjamin Mullin | Lauren Hirsch | ) www.nytimes.com   time to read: +1 min
Even as Paramount, the home of the “Top Gun” movie franchise and “SpongeBob SquarePants,” continues its talks to merge with another media company, Skydance, a new suitor has emerged. Sony Pictures Entertainment and Apollo Global Management, an investment firm, have been in discussions about teaming up for a joint bid to acquire Paramount, two people familiar with the situation said Thursday. The two companies have not submitted an official bid, as Paramount is still in exclusive conversations with Skydance, said the people, who were granted anonymity to discuss delicate negotiations. Apollo previously reached out to Paramount about buying the company for at least $26 billion, including debt. A joint bid with Sony would almost certainly reduce those concerns, adding operational experience and additional capital to Apollo’s already significant war chest.
Persons: SpongeBob, , Skydance, Paramount’s Organizations: Paramount, Sony Pictures Entertainment, Apollo Global Management, Sony Locations: Apollo’s
Uri Berliner, the NPR editor who accused the broadcaster of liberal bias in an online essay last week, prompting criticism from conservatives and recrimination from many of his co-workers, has resigned from the nonprofit. Mr. Berliner said in a social media post on Wednesday that he was resigning because of criticism from the network’s chief executive, Katherine Maher. “I cannot work in a newsroom where I am disparaged by a new C.E.O. whose divisive views confirm the very problems at NPR I cite in my Free Press essay,” Mr. Berliner wrote. In his brief resignation letter, addressed to Ms. Maher, Mr. Berliner said that he loved NPR, calling it a “great American institution,” adding that he respects “the integrity of my colleagues and wish for NPR to thrive and do important journalism.”
Persons: Uri Berliner, Berliner, Katherine Maher, , ” Mr, Ms, Maher, Mr, Organizations: NPR
NPR has suspended Uri Berliner, the senior business editor who broke ranks and published an essay arguing that the nonprofit radio network had allowed liberal bias to affect its coverage. Mr. Berliner was suspended by the network for five days, starting last Friday, for violating the network’s policy against doing work outside the organization without first getting permission. Mr. Berliner acknowledged his suspension in an interview with NPR on Monday, providing one of the network’s reporters with a copy of the written rebuke. In presenting the warning, NPR said that Mr. Berliner had failed to clear his work for outside outlets, adding that he would be fired if he violated the policy again. Mr. Berliner’s essay was published last week in The Free Press, a popular Substack publication.
Persons: Uri Berliner, Berliner Organizations: NPR, The Free Press
Katherine Maher, the chief executive of NPR, is facing online criticism for years-old social media posts criticizing former President Donald J. Trump and embracing liberal causes. The posts, published on the social media platform Twitter, which is now called X, were written before she was named chief executive of NPR in January. “Also, Donald Trump is a racist,” read one of Ms. Maher’s posts in 2018, which has since been deleted. Another post, from November 2020, shows Ms. Maher wearing a hat with the logo for the Biden presidential campaign. “Had a dream where Kamala and I were on a road trip in an unspecified location, sampling and comparing nuts and baklava from roadside stands,” Ms. Maher wrote, an apparent reference to Vice President Kamala Harris.
Persons: Katherine Maher, Donald J, Donald Trump, , Maher, , Kamala, ” Ms, Kamala Harris Organizations: NPR, Trump, Biden
The Daily Beast has long been an outlier in the digital empire of the billionaire Barry Diller. As sites like Match.com and Expedia made millions over the years, Mr. Diller’s digital tabloid lost money, publishing scoop after scoop but struggling to turn a profit. Mr. Sherwood and Ms. Coles will be granted an equity stake equivalent to roughly half of The Daily Beast, with IAC keeping the majority, according to a person familiar with the matter. Mr. Sherwood, 60, will be its chief executive and publisher, and Ms. Coles, 61, will be chief creative and content officer. The decision to bring in Mr. Sherwood and Ms. Coles came after Mr. Diller considered a sale of The Daily Beast and had conversations with various suitors.
Persons: Barry Diller, Expedia, Diller, he’s, Ben Sherwood, Joanna Coles, Sherwood, Coles, Janice Min Organizations: Disney ABC Television Group, Hearst Magazines, IAC, Daily, Hollywood, Ankler Media, The Hollywood Locations: Ben
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWhen I approached Sen. Ted Cruz at the Capitol this week, he appeared upbeat, quipping that he was "living the dream" when I opened our conversation. iHeartMedia, which signed on as a corporate partner to the podcast in late 2022, has confirmed that the payments to the super PAC were derived from advertising revenue generated by podcast. The Campaign Legal Center and End Citizens United have also filed a complaint with the Federal Election Commission accusing Cruz of violating campaign finance laws. "When you write a positive story on something I've accomplished here, on legislation I've passed, then I'll answer your questions," Cruz replied.
Persons: , Sen, Ted Cruz, Cruz, iHeartMedia, Colin Allred, Allred, He's, Ron Johnson, JD Vance, Markwayne Mullin, I've Organizations: Service, Capitol, Texas Republican, Business, Democrat, Houston Chronicle, Democratic Rep, Legal, Citizens, Federal, BP, Capitol Hill, FEC, Sens Locations: Houston, BP America, Texas, Wisconsin, Ohio, Oklahoma
NPR is facing both internal tumult and a fusillade of attacks by prominent conservatives this week after a senior editor publicly claimed the broadcaster had allowed liberal bias to affect its coverage, risking its trust with audiences. Uri Berliner, a senior business editor who has worked at NPR for 25 years, wrote in an essay published Tuesday by The Free Press, a popular Substack publication, that “people at every level of NPR have comfortably coalesced around the progressive worldview.”Mr. Berliner, a Peabody Award-winning journalist, castigated NPR for what he said was a litany of journalistic missteps around coverage of several major news events, including the origins of Covid-19 and the war in Gaza. He also said the internal culture at NPR had placed race and identity as “paramount in nearly every aspect of the workplace.”Mr. Berliner’s essay has ignited a firestorm of criticism of NPR on social media, especially among conservatives who have long accused the network of political bias in its reporting. Former President Donald J. Trump took to his social media platform, Truth Social, to argue that NPR’s government funding should be rescinded, an argument he has made in the past.
Persons: Uri Berliner, Mr, Berliner, ” Mr, Donald J, Trump Organizations: NPR, The Free Press Locations: Gaza
Shari Redstone won control over her media empire in 2018 after a hard-fought struggle with CBS. Now, Ms. Redstone has decided to sell her controlling stake in Paramount, a decision that could put her in conflict with some of the company’s shareholders. The question that Paramount’s board has to answer — and may eventually have to defend in a courtroom: Is the deal under consideration good for all shareholders, or just Ms. Redstone? “Are these decisions that are being made in the best interest of Paramount generally?” said Eric Talley, a law professor at Columbia. “Or are they basically the types of decisions that are only going to give Shari Redstone a nice nut but pretty much stick it to the other minority shareholders?”
Persons: Shari Redstone, , Eric Talley, Shari Organizations: CBS, Viacom, Paramount, Columbia
As Paramount, the media company that’s the home of the “Top Gun” franchise and Nickelodeon, was preparing to enter exclusive talks to sell itself to the media company Skydance, another suitor emerged. Apollo Global Management, the investment firm, told Paramount over the weekend that it was interested in acquiring the entire company for more than $26 billion, including the value of Paramount’s debt, according to two people with knowledge of the matter. It had previously submitted an $11 billion offer to acquire just the Paramount movie studio. Paramount decided not to engage with Apollo’s overture, the people said, with one person explaining that doing so could have derailed its advancing negotiations with Skydance, which became exclusive this week. Apollo said in a letter to Paramount that it was interested in buying out all the company’s shareholders in cash, which could be enticing as the board seeks to strike a deal that not only pleases Shari Redstone, who controls Paramount, but also the company’s common shareholders.
Persons: Apollo’s, Apollo, Shari Redstone Organizations: Paramount, Nickelodeon, Apollo Global Management, CBS, Skydance
Paramount, home to one of Hollywood’s most storied movie studios as well as CBS and cable networks like Nickelodeon, has been discussing entering into exclusive talks with the media company Skydance for a potential deal, according to four people with knowledge of the discussions. Apollo Global Management, an investment firm with more than $500 billion under management, has submitted an $11 billion offer to acquire the Paramount movie studio. Byron Allen, whose Entertainment Studios owns the Weather Channel, has also expressed interest in acquiring Paramount. Ms. Redstone, the controlling shareholder of Paramount, began negotiating with Skydance to sell her stake in the company last year. She controls Paramount through National Amusements, a holding company that owns her voting stock in Paramount.
Persons: Shari Redstone, Byron Allen Organizations: Paramount, CBS, Nickelodeon, Apollo Global Management, Entertainment Studios, Weather, Skydance, National
Warner Bros. Discovery said on Monday that two members of its board of directors, Steven Newhouse and Steven Miron, had stepped down after the company learned about an investigation into whether their presence on the board violated antitrust law. Federal law forbids most corporate officers and board members to simultaneously serve on the boards of their competitors. Mr. Newhouse and Mr. Miron are both executives at Advance, a private, family-held business whose holdings include the Condé Nast glossy magazine empire that publishes titles such as Vogue and The New Yorker.
Persons: Discovery, Steven Newhouse, Steven Miron, Newhouse, Miron Organizations: Warner Bros, Advance, Vogue Locations: Yorker
Sports Illustrated’s owner on Monday sued Manoj Bhargava, the energy drinks mogul whose foray into media has been rife with chaos and conflict, accusing him of failing to pay millions of dollars for the rights to publish the iconic magazine. The 51-page lawsuit, filed in U.S. District Court for the Southern District of New York, says that Mr. Bhargava and Arena Group, the publisher he controls, owe $48.75 million in missed payments, as well as damages for infringing on Sports Illustrated’s copyrights and trademarks. The lawsuit represents the latest public skirmish between Authentic Brands Group, which owns Sports Illustrated, and Mr. Bhargava, the 5-Hour Energy drink founder whose effort to take control of Sports Illustrated’s parent company has resulted in a series of lawsuits and turmoil at the sports publication. Sports Illustrated is being operated by Minute Media, a New York-based sports-media company that wrested the title away from Arena Group last month by striking a new deal with the magazine’s owner. After Arena Group laid off scores of employees in January and threatened to discontinue Sports Illustrated’s print edition, Minute Media pledged to hire some of them back and keep the magazine alive.
Persons: Manoj Bhargava, Mr, Bhargava Organizations: Southern, of, Arena Group, Sports, Authentic Brands, Energy, Minute Media, Group, Media Locations: U.S, of New York, New York
At the same time, they've been taking tens of thousands of dollars in corporate PAC money — some of which may be ending up directly in the senators' bank accounts. This story is available exclusively to Business Insider subscribers. Between the 2022 election and the end of 2023, Vance has used $78,000 in corporate PAC contributions to repay campaign debts, while Mullin has done the same with $45,000 in corporate cash. Mullin did the same with 19 corporate PACs, including ConocoPhillips, ExxonMobile, and GlaxoSmithKline. He also promised not to take corporate PAC money during the GOP primary, only to reserve that pledge during the general election against Democratic Rep. Tim Ryan, who did accept corporate PAC money.
Persons: , JD Vance, Markwayne Mullin, they've, Vance, Mullin, Sen, Ted Cruz, Elena Kagan, Cruz, Jordan Libowitz, Republican Sen, Ron Johnson of, Ron Johnson, Shawn Thew, who's, Tim Ryan, didn't, Vance's, Saurav Ghosh, Ghosh Organizations: Service, Sens, Indiana, Business, Texas Republican, Finance, FEC, Citizen, Washington, Capitol, Republican, Getty, Pro, Comcast, Intel, General Motors, Walmart —, ConocoPhillips, GlaxoSmithKline, GOP, Democratic Rep Locations: Ohio, Texas, Ron Johnson of Wisconsin, AFP, Oklahoma, The Ohio, ExxonMobile
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