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Elon Musk’s X Sues Advertisers Accused of an ‘Illegal’ Boycott: ‘Now It Is War’
Todd Spangler NY Digital Editor Elon Musk once told advertisers — including Disney — who pulled their ad dollars from X, the social network formerly known as Twitter, to “Go fuck yourself.” Now Musk’s X has filed an antitrust lawsuit against a trade group and several advertisers, alleging they conspired to withhold “billions” of dollars in ad spending over concerns that X would “deviate from certain brand safety standards for advertising.” X’s attorneys filed the lawsuit Tuesday in the U.S. District Court for the Northern District of Texas.
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Disney Hiking Prices Across All Disney+, Hulu and ESPN+ Stand-Alone Plans
Todd Spangler NY Digital Editor Here comes another round of “streamflation”: Disney is raising the prices for all stand-alone tiers of Disney+, Hulu and ESPN+ in the U.S. this fall, as well as for bundles that include the three streamers. The higher prices, which go into effect Oct.
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CNET to Be Acquired by Ziff Davis for $100 Million
Todd Spangler NY Digital Editor Ziff Davis inked a deal to acquire CNET for about $100 million, marking the third corporate parent for the pioneering tech news and reviews site in four years. In 2008, CBS had acquired CNET Networks for $1.8 billion. In 2020, as Paramount Global (then known as ViacomCBS) was seeking to offload non-core assets, the media conglomerate sold CNET to digital-marketing company Red Ventures for $500 million.
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Google Illegally Maintains Search Monopoly, Judge Rules in Siding With DOJ
Todd Spangler NY Digital Editor Google broke the law by inking multibillion-dollar deals to make its search engine the default on web browsers and smartphones including devices from Apple and Samsung, a federal judge ruled Monday. Judge Amit Mehta of U.S.
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Media, Tech Stocks Dragged Down Amid Broader Market Sell-Off Over Fears of Slowing U.S. Economy
Todd Spangler NY Digital Editor A broad-based sell-off in stock markets Monday pushed stock prices of major media and tech companies lower, as investors worried that a U.S. recession may be looming. As of 3 p.m.
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Boomerang Cartoon Streaming Service Is Being Shut Down by Warner Bros. Discovery
Todd Spangler NY Digital Editor Zoinks! After more than seven years, Boomerang, the cartoon streaming service from Warner Bros. Discovery, is shutting down as a standalone service. Boomerang will be shut down next month, and its catalog of shows — including “Scooby-Doo,” “Looney Tunes,” “Tom and Jerry,” “The Flintstones,” “Courage the Cowardly Dog” and more — will become part of Max.
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Google Pulls Controversial ‘Dear Sydney’ Gemini AI Ad From NBC Olympics Rotation After Backlash: ‘Who Wants an AI-Written Fan Letter??’
Todd Spangler NY Digital Editor Google has yanked an ad from NBC’s Olympics broadcasts meant to highlight the power of its Gemini AI tool — but which critics blasted as bizarrely tone-deaf. In the 60-second ad, “Dear Sydney,” a father wants to help his daughter write a letter to her idol, Olympic track star Sydney McLaughlin-Levrone.
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Elon Musk Responds to Don Lemon Lawsuit, Claiming Journalist Made a ‘Series of Impressively Insane Demands’
Todd Spangler NY Digital Editor Elon Musk claims he nixed a content partnership with Don Lemon because the ex-CNN journalist “made a series of impressively insane demands.” The tech billionaire’s comments came a day after Lemon sued Musk and X (formerly known as Twitter), alleging breach of contract, negligent misrepresentation and more over the canceled pact. “He made a series of impressively insane demands. We declined.
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NFL Sunday Ticket $4.7 Billion Jury Verdict Thrown Out by Judge
Todd Spangler NY Digital Editor The NFL got a major call overturned: A federal judge Thursday threw out a jury’s $4.7 billion award to subscribers of the league’s Sunday Ticket, finding that the verdict was unsupported by evidence presented in the class-action case. In his decision, Judge Philip Gutierrez of the U.S.
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Amazon Q2 Ad Revenue up 20% to $12.8 Billion, Short of Wall Street Forecasts
Todd Spangler NY Digital Editor Amazon‘s initiative to insert ads into Prime Video helped drive its advertising revenue up 20% for the second quarter of 2024 — but it was less than analysts expected. The company reported ad sales of $12.77 billion for the period, up 20%. Analysts were anticipating the tech giant to generate $13 billion in ad revenue, according to StreetAccount.
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Roku Q2 Sales Rise 14%, Beating Expectations, as Losses Narrow
Todd Spangler NY Digital Editor Roku‘s numbers for the second quarter of 2024 topped Wall Street expectations, helped by a 2% drop in operating expenses and a 39% increase in devices revenue. The streaming platform company reported revenue $968.2 million, up 14%. Net loss was $33.95 million, or 24 cents per share, compared with a net loss of $107.6 million in the year-earlier period.
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Meta Q2 Sales Jump 22% in Wall Street Beat as Its AR/VR and Metaverse Business Loses Billions
Todd Spangler NY Digital Editor Meta‘s social-media empire keeps minting digital-ad dollars — while its metaverse and AR/VR business continues to rack up bigger losses. The company, which operates apps including Facebook, Instagram and WhatsApp, reported top-line revenue of $39.07 billion (virtually all of it from advertising), up 22% year over year.
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Judge Rejects UFC’s $335 Million Class-Action Lawsuit Settlement With MMA Fighters
Todd Spangler NY Digital Editor A federal judge scuttled the proposed $335 million settlement between the UFC and fighters in two separate class-action lawsuits who alleged the MMA promoter violated antitrust laws. On Tuesday, Judge Richard Franklin Boulware II of the U.S. District Court in Nevada issued a ruling denying the settlement.
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Apex Capital Trust Submits $43 Billion Bid for Paramount Global, Including Payment of $400 Million Breakup Fee to Skydance
Todd Spangler NY Digital Editor A rich new offer is on the table for Paramount Global — but it’s not clear if it will unseat Skydance Media‘s existing deal to take over the media conglomerate. On Wednesday, Apex Capital Trust, a conglomerate of financial institutions and financial services providers, announced that it had submitted a competing offer to purchase Paramount Global shares with a total commitment of up to $43 billion. It’s unknown how receptive Paramount and Shari Redstone’s National Amusements Inc., the controlling shareholder, may be to the unsolicited offer.
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Universal Orlando Resort Unveils First Look at Harry Potter ‘Ministry of Magic’ Attraction, Spanning Paris and London Locales, Slated to Debut in 2025
Todd Spangler NY Digital Editor Hoping to conjure a magical lift in attendance, Universal Resort Orlando announced new details for “The Wizarding World of Harry Potter – Ministry of Magic” attraction, slated to open in 2025. The new Harry Potter world will blend the environs of “wizarding Paris” and the British Ministry of Magic.
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Netflix Files to Sell $1.8 Billion in Debt Bonds in Refinancing Move
Todd Spangler NY Digital Editor Netflix plans to issue long-term debt securities totaling $1.8 billion, the first debt offering for the company since its credit rating was upgraded from junk to investment-grade status last year. The new debt offering is evidently to refinance the streaming giant’s $1.8 billion in debt that is maturing in 2025, according to data compiled by Bloomberg. Overall, Netflix had $12.18 billion in long-term debt as of the end of June, down from $14.14 billion at the end of 2023, per its most recent earnings report.
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Edgar Bronfman Jr. Evaluating Potential Paramount Global Bid Countering Skydance Deal
Todd Spangler NY Digital Editor Billionaire and one-time media mogul Edgar Bronfman Jr. is still considering making an offer for Paramount Global. A rep for Bronfman confirmed that he is evaluating options for a potential bid for Paramount.
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Elon Musk’s X Activates Setting Allowing It to Train Grok AI on User Posts and Interactions by Default
Todd Spangler NY Digital Editor X, the social network formerly known as Twitter owned by mega-billionaire tech mogul Elon Musk, has turned on a setting indicating it intends to use its millions of users’ posts and interactions to train Grok, the AI assistant developed by another one of Musk’s companies. “To continuously improve your experience, we may utilize your X posts as well as your user interactions, inputs and results with Grok for training and fine-tuning purposes,” says a notice on X’s settings web page.
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Kamala Harris Joins TikTok
Todd Spangler NY Digital Editor Vice President Kamala Harris, who is now running for president in 2024 against Donald Trump, on Thursday launched her own account on social-entertainment app TikTok. TikTok has exploded with Harris memes since she assumed the role of presumptive Democratic presidential nominee, following President Biden’s announcement Sunday that he would suspend his re-election campaign. Those have included video mashups of her dancing and laughing as well as clips featuring the viral “coconut tree” meme.
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MrBeast ‘Disgusted’ by Grooming Allegations Against Co-Host Ava Kris Tyson, Hires Investigator to Examine Claims
Todd Spangler NY Digital Editor MrBeast, YouTube’s most-followed individual creator, responded to allegations that one of his co-hosts, Ava Kris Tyson, engaged in “grooming” of a minor. He said he was “disgusted and opposed to such unacceptable acts” and that he had hired a third-party investigator to look into the claims.
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‘The Boy and the Heron’ Streaming Release Date Set on Max
Todd Spangler NY Digital Editor Hayao Miyazaki’s Oscar-winning “The Boy and the Heron” will make its U.S. streaming debut on Warner Bros. Discovery’s Max in September.
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