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☆ No more Newsy: The streaming and broadcast network rebrands as Scripps News under Warren Buffett-backed E.W. Scripps
▼ + stars: | 2022-12-31 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +9 min

Streaming and broadcast news network Newsy is being scrapped and rebranded as Scripps News. Parent company E.W. Bellini is a San Francisco-based reporter for Newsy, the 14-year-old streaming news platform owned by E.W. Scripps News is also absorbing scores of executives from a national desk that fed the company's 61 local stations. Its local stations pulled in $208 million in ad revenue thanks to the midterm elections.

A fter a year of layoffs across media and entertainment companies, more cuts could come in 2023 .. A pull-back of advertising tied to the declining economic outlook has affected all media. From tech diruptors like Netflix to news stalwarts like the Washington Post, a range of companies are impacted. In the blink of an eye, the media and tech jobs market has gone from hot to not. Discovery and Paramount Global that are racing to make their streaming businesses profitable to digital media companies such as BuzzFeed and Vice that are trying to bolster their valuations. Here are 15 media and entertainment companies that have laid off staff as of December 2022:

☆ 20 top CNN execs who are on the market after Warner Bros. Discovery layoffs in 2022
▼ + stars: | 2022-12-20 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +1 min

CNN lost a slew of top people after the Warner Bros. Discovery merger and shutdown of streamer CNN+. Insider identified 20 accomplished pros from across the network who are on the market. It's been a year of sweeping layoffs and organizational changes at CNN as Warner Bros. Earlier in the year, CNN cut 239 jobs following the abrupt closure of news streamer CNN+.

☆ The biggest media targets and buyers in 2023, as speculation swirls around Disney's next move under CEO Bob Iger and how Warner Bros. Discovery can shed debt
▼ + stars: | 2022-12-19 | by ( Lucia Moses | Claire Atkinson | Reed Alexander | ) www.businessinsider.com time to read: +12 min

Continued pressure to get bigger has big media companies in Hollywood looking to scale up. Media bankers and investors predicted to Insider that dealmaking will rebound in 2023 as companies big and small size up their options for possible tie-ups. Pressure on big media companies to get bigger hasn't gone away. Apple: Could eye a big content prizeTim Cook. Paramount's library could help a streaming company bulk up its content; Netflix for one has explored Paramount's studio business before.

☆ Reinstated Disney CEO Bob Iger spent months undermining his now-ousted successor Bob Chapek by keeping an office and criticizing his leadership, report says
▼ + stars: | 2022-12-18 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Disney CEO Bob Iger spent months undermining his successor Bob Chapek, the Wall Street Journal reported. Disney's board dramatically reinstated Iger as CEO last month amid broader dissatisfaction with Chapek's leadership. Other execs were considering leaving if Chapek stayed in the CEO role, a senior figure at Disney told Insider, expressing frustration with his leadership and decision-making. He was criticized internally and by industry figures for making decisions without enough information, the Disney insider told Insider last month. Disney and Iger were not immediately available to respond to Insider's request for comment made outside of US working hours.

☆ Netflix, NBCUniversal, BuzzFeed, Vice, and other media companies have laid off thousands in 2022, and there could be more cuts ahead in 2023
▼ + stars: | 2022-12-16 | by ( Lucia Moses | Claire Atkinson | Elaine Low | ) www.businessinsider.com time to read: +2 min

A fter a year of layoffs across media and entertainment companies, more cuts could come in 2023 .. A pull-back of advertising tied to the declining economic outlook has affected all media. In the blink of an eye, the media and tech jobs market has gone from hot to not. More than 3,300 media jobs were lost through November this year, according to Challenger, Gray & Christmas data — though this was down from an unprecedented 2020, when Challenger data showed 30,000 media sector jobs were lost. Discovery and Paramount Global that are racing to make their streaming businesses profitable to digital media companies such as BuzzFeed and Vice that are trying to bolster their valuations. Here are 15 media and entertainment companies that have laid off staff as of December 2022:

☆ The M&A market just went out with a bang after a terrible year, and it could be a sign of good times to come
▼ + stars: | 2022-12-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

(Hint: it's not on Wall Street.) Meanwhile, the largest deal of the year — Microsoft's $68.7 billion bid for Activision — might not even happen, thanks to regulators. But credit unions and community banks aren't happy with the new terms, The Wall Street Journal reports. Big tech nabs from Wall Street. Company culture on Wall Street: not great!

☆ 21 production companies that are acquisition targets as streamers race to get profitable and private equity bets big on Hollywood content
▼ + stars: | 2022-12-12 | by ( Lucia Moses | Elaine Low | Claire Atkinson | ) www.businessinsider.com time to read: +4 min

The streaming wars have fueled a wave of deal-making for Hollywood production companies. Private equity is leading the charge, with firms like Apollo and Blackstone spending big on content. Insider identified 21 top production companies that could attract buyers or investors in 2023. Media companies need fresh content to win and keep subscribers who have more options than ever to choose from. Insider spoke with five industry dealmakers, consultants, and other experts who named 20 companies that could be hot acquisition targets as the drive for content continues.

☆ 2023 is shaping up to be a big year for dealmaking in live sports. Here's why.
▼ + stars: | 2022-12-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Big deals for the big (and little) screen. Next year is shaping up to be a big one for media deals. Like many other industries, media quickly turned quiet on the dealmaking front this year as the economy soured. However, a stabilization of interest rates, along with money burning a hole in investors' pockets, could lead to a big 2023, insiders say. The landscape for media deals is fascinating when you consider the two opposing forces, as Lucia pointed out to me.

☆ Condé Nast's CMO is exiting after 2 years of leading the company's marketing and consumer revenue business
▼ + stars: | 2022-12-09 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +4 min

Condé Nast CEO has lost its CMO, Deirdre Findlay, who spent two years in the role under CEO Roger Lynch. Condé Nast is looking to remake itself with new lines of business from events to membership businesses. Before joining Condé Nast in early 2019, Lynch was CEO of Pandora where Eisen had also been a corporate advisor. Condé Nast titles include Vogue, New Yorker, and Condé Nast Traveler. Hi All,As I shared in the CMO All Hands today, I have made the difficult decision to leave Condé Nast.

☆ Bob Iger's return as Disney CEO opens new possibilities for Hulu deal with Comcast
▼ + stars: | 2022-12-09 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +5 min

Disney will write "a big check" for Comcast's 33% share of Hulu, said NBCUniversal CEO Jeff Shell. With Bob Iger returning as Disney's CEO, Comcast is hoping for a broader conversation to seal the deal. Comcast is eyeing assets such as ESPN, FX, and NatGeo in return for surrendering its stake in Hulu. Former Disney CEO Bob Chapek, who was unceremoniously fired on November 20, refused to hold any talks on the topic with Comcast CEO Brian Roberts, according to a Comcast insider and a high-level Hollywood executive familiar with thinking inside Disney. Representatives for Hulu, Disney, and Comcast had no comment.

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☆ Crypto advertising is under fire after the FTX implosion, but firms like Binance, Grayscale, and OKX are pouring money into marketing to win back consumer trust
▼ + stars: | 2022-12-06 | by ( Lara O'Reilly | Reed Alexander | Lauren Johnson | ) www.businessinsider.com time to read: +5 min

The bitcoin crash and FTX implosion massively dented the crypto advertising boom. But fewer crypto advertisers can also create an advantage for those still trying to get their messages to consumers. And Dinu added that crypto companies' efforts to advertise to restore trust could persist "well beyond" the next six months. Some crypto companies are still launching splashy campaigns, similar to crypto ad campaigns from the beginning of the year. "Crypto companies have to stop talking about themselves and start talking about how cryptocurrency or blockchain fits into normal people's lives."

☆ From Apple and Disney to Warner Bros. Discovery, here's the 2023 media deal outlook for Hollywood's biggest companies, according to 13 bankers and industry experts
▼ + stars: | 2022-12-06 | by ( Lucia Moses | Claire Atkinson | Reed Alexander | ) www.businessinsider.com time to read: +12 min

☆ Newsmax CEO reveals how he's challenging Fox News for right-leaning viewers, why his network won't endorse candidates, and why his friend Trump shouldn't run in 2024
▼ + stars: | 2022-12-04 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +12 min

Newsmax CEO Chris Ruddy says it challenges Fox News for conservative viewers but also wants Democrats. Ruddy said Donald Trump shouldn't run in 2024 because "he's a guy that doesn't need the presidency." Here's why a media CEO who considers Donald Trump a good friend doesn't think his good friend should run for president again. Let's talk about the Arizona call[during the 2020 election]: Fox News called that election within 20 minutes. I would prefer Trump not run because I don't think it's good for him personally.

☆ CNN is making big cuts, axing about 400 positions including open roles, insiders say
▼ + stars: | 2022-12-01 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +2 min

Staff cuts are being felt at CNN operations around the world. CNN is eliminating some 400 positions around the world, including open roles, equating to about 10% of staff, according to two people familiar with the company. HLN has been run by Ken Jautz, one of the three executives who had run CNN temporarily after CEO Jeff Zucker stepped down earlier this year. A second acting head of CNN, EVP programming Michael Bass, stepped down late last month. CNN International is also expected to experience a rejig of teams and bureau, according to the exec familiar with internal conversations.

☆ Crypto firms like Binance, Grayscale, and OKX are pouring money into marketing to regain trust and save their companies from the fallout of the FTX implosion
▼ + stars: | 2022-12-01 | by ( Lara O'Reilly | Reed Alexander | Lauren Johnson | ) www.businessinsider.com time to read: +5 min

☆ CNN gave its staff 24 hours to worry and stress about looming layoffs. Some experts say it's actually the right thing to do.
▼ + stars: | 2022-12-01 | by ( Shana Lebowitz | ) www.businessinsider.com time to read: +4 min

Their divergent reactions suggest that perhaps there isn't a great way to let employees know you're getting rid of them. In the memo, CEO Chris Licht called the process of conducting layoffs a "gut punch." "I think employees appreciate advance notice that layoffs are coming," said Jaime Klein, the CEO of the human-resources consultancy Inspire HR. "That's really, really important," he added, because it shows that leadership is being relatively transparent and has some empathy for employees. If you ever want to rehire some of the employees you're letting go, it helps to leave a good impression.

☆ Lachlan Murdoch biographer breaks down his relationship with father Rupert Murdoch and why a merger of Fox and News Corp is about 'entrenching Lachlan's control'
▼ + stars: | 2022-11-30 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +10 min

A new unauthorized biography of Lachlan Murdoch explores his business profile and family relationships. Its author, Paddy Manning, speculates about who might exit if Rupert Murdoch's Fox Corp and News Corp recombine. Rupert Murdoch remains executive chairman of News Corp and chairman of Fox. Lachlan Murdoch was named Fox's CEO, and James Murdoch, after four years as CEO of 21st Century Fox, was left to carve his own path. If you're looking longer-term about who's going to run the company beyond the merger, if it happens, [News Corp CEO] Robert Thomson is probably retiring.

☆ CNN is notifying staff of layoffs as Warner Bros. Discovery seeks further cost reductions. Read CEO Chris Licht's memo to staff about the cuts.
▼ + stars: | 2022-11-30 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +3 min

CNN is executing a huge layoff plan starting today, according to a company memo sent out by CEO Chris Licht. CNN CEO Chris Licht notified employees today that the news organization will begin lay-offs as part of a cost reduction effort implemented by parent company Warner Bros. On Thursday, CNN employees will learn if they are impacted. Read Licht's full memo below:To my CNN colleagues,Our people are the heart and soul of this organization. Tomorrow, we will notify impacted employees, and tomorrow afternoon I will follow up with more details on these changes.

☆ Ben Affleck and Matt Damon just scored $100 million from RedBird Capital. Check out 15 more private equity players making big bets on Hollywood.
▼ + stars: | 2022-11-28 | by ( Elaine Low | Claire Atkinson | Madeline Berg | ) www.businessinsider.com time to read: +5 min

Private equity firms are investing heavily in film and TV companies, even amid a possible recession. Private equity accounted for 42% of deals over the last year vs. 24% in 2018, according to PwC. RedBird Capital just invested $100 million in Ben Affeck and Matt Damon's new production company, Artists Equity. And earlier that month, Swedish firm EQT invested in UTA, which makes the private equity player the largest outside shareholder of the talent agency. Insider's second annual list of the top private equity players in Hollywood highlights 16 firms, based on our reporting and conversations with investors and insiders.

☆ NBCUniversal layoffs are coming in January, with cuts expected mainly in broadcast and cable TV groups
▼ + stars: | 2022-11-28 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +3 min

Layoffs will come in ad sales and marketing in the linear TV business but aren't expected to affect theme parks. NBCUniversal is the latest major media corporation to plan layoffs, according to two company insiders and a third person closely familiar with plans. The axe will fall mainly in ad sales, marketing, and back-end functions at the traditional broadcast and cable business units, but will come division by division, two people said. The company is looking for $1 billion in cuts across the TV networks, according to a Bloomberg report. Paramount Global also conducted layoffs last week, mainly in ad sales in New York and Los Angeles.

☆ 11 production companies cashing in on Hollywood's sports content boom, from Religion of Sports to SpringHill
▼ + stars: | 2022-11-28 | by ( Claire Atkinson | Colin Salao | ) www.businessinsider.com time to read: +5 min

Netflix's Formula 1 series, "Drive to Survive" is the model other streamers and leagues hope to emulate. Insider identified 11 top companies making scripted and documentary sports content to feed the boom. Investment firms Shamrock, RedBird Capital, and Providence Equity have all made sports content plays, with Shamrock spearheading an investment in Religion of Sports in June. Speaking to buyers, sellers, and other industry stakeholders, Insider identified 11 production companies making the most sought-after sports content. These shingles are poised to capitalize — with many attracting investment and acquisition interest — as Amazon and other streamers keep buying.

☆ New Disney CEO reportedly joked to employees that his wife wanted him to return to keep him from running for US president
▼ + stars: | 2022-11-28 | by ( Grace Kay | ) www.businessinsider.com time to read: +2 min

Disney CEO Bob Iger said his wife encouraged him to return to Disney to avoid a presidential run, CNBC reported. Iger opened a town hall with Disney staff on Monday with a quote from "Hamilton," per the report. But the sun comes up and the world still spins," Iger quoted, sources who attended the town hall told CNBC. When he first stepped down from his role as Disney CEO in 2020, Iger said in a podcast that he'd seriously considered running for office on multiple occasions. "You can run for anything you want, but not with this wife," Iger said Bay told him.

☆ Trust your gut, tout your wins, and don't waste your boss' time: 20 rising-star execs at Netflix, HBO, Hulu, and more offer their top career advice for getting ahead in Hollywood
▼ + stars: | 2022-11-24 | by ( Reed Alexander | Claire Atkinson | Elaine Low | ) www.businessinsider.com time to read: +2 min

In October, Insider profiled 26 rising stars of the entertainment industry. These leaders work across content, strategy, and business development roles at top entertainment companies. Insider asked them to share their best advice for career success. In October, Insider profiled 26 rising stars of the entertainment business — talented strivers from hot companies in Hollywood like HBO, Universal, and Netflix. From obsessing over your passions to following your gut instincts to being the spokesperson for your own achievements, here's what they told us.

Bob Iger's return as Disney's CEO was met with surprise and relief by current and former employees. News of Bob Iger's return as Disney's CEO shocked the media world, but for many inside the company, the news touched off a mix of surprise as well as relief. Insider spoke with eight current and recently departed Disney employees about their reactions, hopes, and concerns for what's next. And there's still worry about where cuts will hit and how deep, and what's in store for Disney's streaming business. "Iger still has all the problems Chapek had — the company is bleeding money," said the first Disney insider.

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