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☆ Fox, Dominion urge judge to rule in $1.6 billion defamation suit ahead of April trial
▼ + stars: | 2023-03-22 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +6 min

However, Fox and Dominion didn't close up their arguments on Tuesday and will meet in court Wednesday morning. (Trump's false claims of election fraud are at the center of multiple criminal probes.) Chairman Rupert Murdoch said some anchors parroted false fraud claims in the months following the election. Fox has consistently denied the claims it knowingly made false claims, and has argued it is protected by the First Amendment. These cases are often settled out of court or quickly dismissed by a court judge, but neither said has had such discussions, CNBC previously reported.

☆ SlamBall, which combines basketball and football with trampolines, snags big investors
▼ + stars: | 2023-03-21 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

Are you ready for some ... SlamBall? A star-studded lineup of investors in and around sports are jumping into the sport, which is a mashup of football, basketball and trampolines that was buzzy for a short time in the early 2000s. The investment comes as SlamBall plans to relaunch this summer, more than 20 years after the alternative sport was shut down in the U.S. as ratings fell in its second season. SlamBall recently closed an $11 million Series A funding round led by Roger Ehrenberg's IA Sports Ventures and Eberg Capital, a stakeholder in MLB's Miami Marlins. It took founder and CEO Mason Gordon and Mike Tollin – a producer behind the popular Chicago Bulls docuseries "The Last Dance" who helped launch the league the first time – nine months to secure their full roster of investors.

☆ Diamond Sports, largest owner of regional sports networks, files for bankruptcy
▼ + stars: | 2023-03-14 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

Diamond Sports Group, the largest owner of regional sports networks, filed for bankruptcy protection on Tuesday, toppled by a more than $8 billion debt load. Diamond, like other regional sports networks, has been focused on growing its streaming presence. As of Tuesday, Diamond said, it was still finalizing the restructuring support agreement with creditors. The plan could see Diamond separate from Sinclair to become a standalone operation, Diamond said. And, while Diamond obtained streaming rights for all of its NBA and NHL teams last year, it has been working on a team-by-team basis for MLB.

☆ Rupert Murdoch suggested Fox News hosts 'went too far' with election fraud claims
▼ + stars: | 2023-03-07 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Murdoch said in an email to Fox News CEO Suzanne Scott on Jan. 21, 2021, in an apparent reference to Fox News hosts Sean Hannity and Laura Ingraham. Dominion has argued in its suit that Fox and its ring-wing cable TV channels and talent falsely claimed that its voting machines rigged the results of the 2020 election. The company points to Fox Corp. CEO Lachlan Murdoch's testimony about being "kept awake at night" regarding ratings and competition following the 2020 election. Trump has repeatedly spread false claims that the 2020 election between him and now-President Joe Biden was rigged. Before then, Dominion and Fox will meet again in Delaware court on March 21 regarding their motions for summary judgement.

☆ SiriusXM cuts 8% of its workforce as part of a broader reorganization
▼ + stars: | 2023-03-06 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +6 min

"We are entering into a new phase for our Company," CEO Jennifer Witz said in an email to employees on Monday. In November, the CEO had told the company that as part of their 2023 plans there would be a review of the company. "However, today's decision to reduce our workforce was required in order for us to maintain a sustainably profitable company," Witz said. After a review of our business, we have made the decision to reduce the size of our workforce by 475 roles, or 8%. However, today's decision to reduce our workforce was required in order for us to maintain a sustainably profitable company.

☆ Paramount Global considers selling majority stake of BET Media Group, sources say
▼ + stars: | 2023-03-06 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

Paramount Global is considering selling a majority stake of BET Media Group, the owner of the BET cable network and studio, VH1, and the streaming service BET+, according to people familiar with the matter. While other assets at Paramount Global are closely intertwined with its flagship streaming service Paramount+, BET has its own streaming service, its own ad sales team, and an investment from actor and producer Tyler Perry. Selling a majority stake in BET Group would allow Paramount Global to get added capital to spend on programming for Paramount+ and Pluto TV, its free ad-supported streaming service. Paramount moved VH1 into BET Media Group in October. BET Media Group is run by BET CEO Scott Mills.

Trumzz | Istock | Getty ImagesOver the past two years, millions of low-income U.S. households have received broadband internet at a discount through two consecutive government programs. "Millions could be left in the dark without broadband service for the very same reasons they didn't have it in the first place." The Emergency Broadband Benefit, or EBB, which was approved by then-President Donald Trump in late 2020 and launched in February 2021, provided a $50 subsidy. That's considered an accomplishment, said Ken Garnett, chief strategy officer at Cal.net, a small internet service provider that serves rural inland areas of California. As of January, about $6.1 billion of the funds had been claimed by broadband service providers as reimbursement for discounting their services and products.

☆ MSG Networks to launch streaming service for Knicks, Rangers games
▼ + stars: | 2023-03-01 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

MSG Networks, James Dolan's cable-TV channels that feature local New York and New Jersey professional sports games, is launching its own streaming service. MSG Networks also said it recently launched a free, ad-supported streaming TV, or FAST, channel called MSG SportsZone, which is available nationally on Vizio televisions and the Plex streaming platform. The FAST channel features MSG Networks' programming centered around sports betting and classic games. MSG+ will only be available in the region that already carries its MSG Networks on cable-TV. MSG Networks' new streaming service will also allow fans to purchase single game streaming feeds for $9.99 per game.

☆ Schumer, Jeffries pressure Murdoch, Fox News over Trump's false election fraud claims
▼ + stars: | 2023-03-01 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +6 min

Trump has repeatedly spread false claims that the election was stolen from him. Earlier this week, Dominion filed court papers that revealed parts of the testimony from Murdoch and other top Fox Corp leadership. In his deposition, Murdoch acknowledged that some of Fox's top TV hosts endorsed false election fraud claims. When Murdoch was asked if he was "now aware that Fox endorsed at times this false notion of a stolen election," Murdoch responded, "Not Fox, no. Fox News has consistently denied that it knowingly made false claims about the election.

☆ Rupert Murdoch says some Fox News anchors 'endorsed' false election fraud claims in Dominion case
▼ + stars: | 2023-02-27 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Fox Corp. Chairman Rupert Murdoch said some anchors of the company's TV networks parroted false fraud claims in the months following the 2020 election, according to new court papers out Monday. In new filings as part of Dominion Voting Systems' $1.6 billion defamation lawsuit against Fox and its networks, Murdoch said he doubted the election fraud claims being aired on Fox News and Fox Business Network. Murdoch also acknowledged that Fox's TV hosts endorsed the false election fraud claims. In unveiled question and answers from Murdoch's deposition, when Murdoch was asked if he was "now aware that Fox endorsed at times this false notion of a stolen election," Murdoch responded, "Not Fox, no. Dominion sued Fox and its right-wing cable networks, Fox News and Fox Business, arguing the networks and its personalities made false claims that its voting machines rigged the results of the 2020 election.

Nancy Dubuc notified Vice Media staffers on Friday that she's stepping down from her post as CEO after five years at the company. Dubuc joined Vice in 2018 after leaving her post as CEO of A+E Networks, where she had worked for 20 years. "We thank Nancy for her many contributions and will soon announce new leadership to guide VICE forward into its next stage of growth and transformation." Dubuc's departure comes as Vice, like its digital media peers, facing ongoing challenges with shrinking audience numbers and advertising. Still, Vice ended 2022 with a slight gain in revenue, although the business deteriorated among the macroeconomic headwinds, CNBC previously reported.

☆ Warner Bros. Discovery sues Paramount over 'South Park' streaming rights
▼ + stars: | 2023-02-24 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Warner Bros. Discovery sued Paramount Global looking to enforce the streaming rights of "South Park," setting the stage for a legal battle between two media behemoths as the streaming wars intensify. Discovery filed a lawsuit against Paramount, South Park Digital Studios and MTV Entertainment seeking hundreds of millions of dollars for what it believes was a breach of contract. During the bidding process for the "South Park" rights, the filing said, Paramount allegedly asked whether Warner Bros. Discovery plans to launch a combined HBO Max and Discovery+ streaming service this spring.

☆ Warner Bros Discovery revenue misses as media giant posts big loss
▼ + stars: | 2023-02-23 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Pedestrians walk past a street commercial advertisement billboard from Warner Bros and DC comics character, The Batman, movie in Madrid. Warner Bros. Warner Bros. Warner Bros. Warner Bros.

The documents were publicly released for the first time this week as part of Dominion Voting Systems' $1.6 billion lawsuit against Fox Corp and its cable TV networks. Dominion, Fox Corp and Fox News filed their motions for summary judgment this week, which unveiled evidence from months of discovery and depositions that had been private until this point. Fox News anchors, as well as top Fox Corp brass including Rupert Murdoch and Lachlan Murdoch, were questioned in recent months. In court papers Thursday, Fox Corp said it had "no role in the creation and publication of the challenged statements – all of which aired on either Fox Business Network or Fox News Channel." But he's not going to destroy us," court papers show.

☆ Fox News hosts, Rupert Murdoch were skeptical of Trump election fraud claims
▼ + stars: | 2023-02-16 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Rupert Murdoch and Fox News hosts expressed disbelief in former President Donald Trump's false election fraud claims, according to evidence released from Dominion Voting Systems' $1.6 billion lawsuit against Fox Corp and its cable-TV networks. In court papers filed Thursday, text messages and testimony from depositions show that Fox executives and TV personalities were skeptical about claims that the election between the victorious Joe Biden, a Democrat, and Trump, a Republican, was rigged. And damaging," Fox Corp Chairman Rupert Murdoch said in an email on Nov. 19, days after the election, regarding claims Trump lawyer Rudy Giuliani was making on Fox News. "Sydney Powell is lying," Tucker Carlson said in a text message to his producer. Our viewers are good people and they believe it," Carlson responded, according to court papers.

☆ Paramount+ plans price increases as it hits 56 million subscribers
▼ + stars: | 2023-02-16 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

The Paramount+ streaming service is now available in Germany. Paramount Global said it saw its streaming business grow during the fourth quarter, and announced plans to increase prices for Paramount+ this year. Paramount+ added 9.9 million subscribers during the fourth quarter. In total, Paramount+ reached nearly 56 million customers during the fourth quarter. Overall, Paramount fourth quarter revenue declined 7% compared with last year, to roughly $5.9 billion, due to the drop in advertising.

Sinclair acquired the portfolio of regional sports networks from Disney in 2019 for $10.6 billion, including roughly $8 billion in debt. Diamond Sports' portfolio includes Bally Sports Detroit, Bally Sports Florida and Bally Sports Southwest. Its networks are home to more than half of MLB, NHL and NBA teams in the U.S., Diamond says. As consumers flee traditional pay-TV bundles, cable networks, particularly the regional sports networks, have felt the brunt of it. Concerns that Diamond could forgo paying the rights payments while under bankruptcy protection have been discussed at the leagues, the people said.

☆ AMC Networks names a new CEO: Kristin Dolan, spouse of chairman James Dolan
▼ + stars: | 2023-02-15 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

AMC Networks , the company that owns TV channels like AMC and IFC, named Kristin Dolan its new CEO on Wednesday. She's an industry veteran, and most recently served as CEO of 605, a data analytics firm that measures audience numbers for TV networks. She is also the spouse, albeit separated, of James Dolan, the AMC Networks interim executive chairman James Dolan. The Dolan family has been considering the best way to move AMC Networks forward as it deals with cord-cutting and a tight ad market. For some time now, AMC Networks has been considered an acquisition target for larger media companies looking to bulk up their libraries.

☆ Wonya Lucas is making big changes at the Hallmark Channel
▼ + stars: | 2023-02-14 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +7 min

And she's done it all while staying true to the Hallmark brand, which Lucas said is always on her mind. Courtesy: Hallmark MediaUnder Lucas, Hallmark's "Countdown to Christmas" movie slate has increasingly changed. When Lucas became CEO of Hallmark Media, which also includes the Hallmark Movies and Mysteries network, it had also been coming out from under a firestorm of controversy. There needed to be more diversity in both casting and storylines," Hamilton Daly said. Zoom In Icon Arrows pointing outwards Three Wise Men and a Baby Hallmark Media

Kickoff for Super Bowl LVII is at 6:30 p.m. The Super Bowl is advertising's biggest stage, with companies jockeying for a limited supply of spots to get their products in front of millions of consumers' eyeballs. Fox said it raked in a record amount of Super Bowl ad revenue this year. Absent this year will be crypto companies. Last year, four cryptocurrency companies shelled out millions for commercial spots during the big game.

Iger said this week that while a spinout was considered in his absence, it was concluded ESPN should stay with Disney. Another proposition floated to Disney was to have Comcast buy out Hulu. Iger has previously championed Hulu as part of Disney's strategy to offer three relatively low-priced services (Disney+, Hulu and ESPN+) rather than one mega-product that would likely be the most expensive streaming service. Selling Hulu would unwind this strategy, and it also may lead to cancellations of Disney+ and ESPN+. Even if Disney buys the remaining stake of Hulu, the sides must agree on fair market value.

☆ Activist investor Nelson Peltz declares Disney proxy fight is over after Iger unveils restructuring
▼ + stars: | 2023-02-09 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

Nelson Peltz declared his proxy fight with Disney was over Thursday after the entertainment giant unveiled a vast restructuring plan, cost cuts and 7,000 layoffs. "Now Disney plans to do everything we wanted them to do," Peltz told Jim Cramer on CNBC's "Squawk on the Street" on Thursday. "The proxy fight is over," said Peltz, who heads Trian Fund Management. Earlier in January Trian launched a proxy fight with Disney, pushing for Peltz to gain a seat on the board. Disney is also restructuring its business into three divisions, and will focus on bringing its streaming business to profitability by 2024.

☆ News Corp. announces it will cut 1,250 positions this year
▼ + stars: | 2023-02-09 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

News Corp . said Thursday it will cut about 1,250 positions, or 5% of its workforce, in the latest round of layoffs that have hit the media and tech industries in recent months. Rupert Murdoch's media company, which owns such names as The Wall Street Journal, the New York Post, Barron's and HarperCollins, said the tough marcoeconomic environment and higher interest rates have been hurting the company. On Thursday the company reported earnings results and said its quarterly revenue decreased 7% to $2.52 billion from the year-earlier period. Thomson noted that despite "the obvious global challenges," its professional information business at Dow Jones, the publisher of the Journal, saw revenue surge. Quarterly revenue for the overall Dow Jones segment rose 11% from the year-earlier period.

☆ Disney CEO Bob Iger says he prefers to stay only two years, calls streaming 'the future'
▼ + stars: | 2023-02-09 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

Disney CEO Bob Iger appeared on CNBC's "Squawk on the Street" Thursday following the company's announcement it would cut 7,000 jobs and slash $5.5 billion in costs as part of a larger reorganization. Iger, who returned to Disney's helm in November, said Thursday he had no plans to stay longer than two years in his post. The board ousted Bob Chapek last year. "We thought we made the right decision when we chose Bob [Chapek] in 2020. On the top of the list is Disney's streaming strategy and making the business profitable, Iger said Thursday.

☆ Dominion Voting attorney calls out Fox for missing evidence in defamation lawsuit
▼ + stars: | 2023-02-08 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

While this issue was already raised in July and January, the Dominion attorney said Wednesday they are still missing documents. We pointed out categories of missing documents for both Fox News and Fox Corp that are still missing. Fox attorney Dan Webb, a veteran trial attorney added to Fox's roster last year, said he disagreed with much of what Nelson said during the hearing Wednesday. Dominion brought the defamation lawsuit against Fox and its right-wing cable news networks, Fox News and Fox Business, seeking $1.6 billion in damages. "We are put in this impossible situation of preparing for trial where there are missing documents," Nelson said.

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