| | | | | Exec summary: Thursday is shaping up to be a busy media news day, with an FCC meeting, a likely Disney-Fox deal, and "The Last Jedi" opening... Scroll down for details... Plus, PBS is suspending distribution of Tavis Smiley's show... Steve Bannon's political prowess is being scrutinized... And there's a Fox News error no one's talking about... | | Disney's biggest deal ever | | Hadas Gold emails: Thursday is looking like the big day for Disney and 21st Century Fox. All signs point to an imminent announcement from the two companies, possibly even as soon as 7am ET, the FT's Matthew Garrahan reported.
This is going to be one of the biggest media deals of the decade, combining two of the "big six" movie studios and drastically changing the legacy of Rupert Murdoch and his companies. If the deal is approved by regulators, 21st Century Fox will shrink and become almost entirely focused on news (with a sports channel).
Analysts I spoke with said they expect the remaining part of 21st Century Fox to rejoin NewsCorp. We will have breaking coverage on CNNMoney as the announcement happens... In the meantime, here's a preview of what some experts think this deal will mean... | | | The WSJ (which is under the NewsCorp umbrella) reports that the deal values Fox as a whole "at around $40 a share." Shares are at $32.75 right now. "Disney would pay $28 to $29 a share for Fox assets including the Twentieth Century Fox movie and TV studio, cable networks including regional sports networks, and key international assets," the WSJ said, citing sources. "It is expected to be an all-stock transaction that values the assets Disney is buying at around $60 billion, including debt..." | | Building blocks for Disney's streaming services | | If you missed Ben Thompson's Stratechery column about the deal, check it out here. He's bullish on the Fox deal because he believes "the only way for Disney to avoid commoditization is to itself go vertical and connect directly with customers." It's all about the streaming services...
-- CNBC's Jim Cramer is bullish too: "Disney has bought itself time and boxed out its real enemies, the digital titans..."
-- BTIG's Rich Greenfield is more bearish... | | >> Will Bob Iger extend his retirement date again?
>> What will the companies say about James Murdoch's potential role at Disney?
>> How will this deal stack up against AT&T-Time Warner?
>> What will the DOJ think?
>> Variety has ten Q's here, including "What does this mean for Netflix?" and "What becomes of the Fox Broadcast network?" | | Brian Lowry emails: The "What if?" game can be pointless, but with "The Last Jedi" opening Friday, it's tempting to ask: Would Fox be less receptive to an asset-shedding deal with Disney if Rupert Murdoch's studio had acquired Lucasfilm, instead of Disney doing so? Fox, after all, had a relationship with Lucasfilm, having distributed the earlier "Star Wars" movies. But George Lucas had shrewdly retained rights to the sequels and the merchandising.
To be fair, it's not like Fox fumbled the ball. According to Bloomberg, Iger privately began courting Lucas after the "Star Wars" patriarch confided that he was considering retirement. If nothing else, this week's events further validate Iger's Lucasfilm buy, which Wired summed up this way in 2015, citing Lucas' reticence to do more live-action movies: "It was like Lucasfilm was sitting on top of the world's richest oil deposit, but didn't want to drill. Disney tapped that well. And it's a gusher."
Speaking of that... | | | "Star Wars: The Last Jedi" showings begin Thursday evening... AMC is adding late-night screenings "due to customer demand..." Deadline is forecasting a $424 million-$440 million opening weekend... | | Pivotal FCC vote on Thursday | | The FCC is about to vote to repeal existing Obama-era "net neutrality" rules. The meeting starts at 10:30am Thursday... And it will stream live on FCC.gov...
Donie O'Sullivan emails: The FCC's public consultation process on the issue was hijacked -- and flooded with millions of fake comments posted using real Americans' stolen identities. Dems are calling for the FCC to delay the vote to investigate. We spoke to some of the people whose identities were used. An example: Christopher Basco's mom's identity was used to post a comment a month after she died in June. The FCC is not removing the fraudulent comments... | | Also on the FCC's agenda... | | | "There are multiple items on the agenda, including a major overhaul of the country's media ownership laws," Recode's Tony Romm notes... | | Reuters reporters detained in Myanmar | | | "Myanmar's government said on Wednesday that police had arrested two Reuters journalists, Wa Lone and Kyaw Soe Oo," the wire service reports. Reuters EIC Stephen Adler: "We are outraged by this blatant attack on press freedom. We call for authorities to release them immediately." State Department spokeswoman Heather Nauert says State is "following this closely..." | | CPJ: "Record number of journalists jailed" | | | The Committee to Protect Journalists' annual must-read report: "The number of journalists imprisoned worldwide hit another new record in 2017, and for the second consecutive year, more than half of those jailed for their work are behind bars in Turkey, China, and Egypt..." | | McCain to Trump: Lay off the "fake news" claims | | | John McCain shared the new CPJ report on Twitter and said President Trump "must understand his harmful rhetoric only empowers repressive regimes to jail reporters & silence the truth." As CNNMoney's Jackie Wattles notes here, CPJ is highly critical of Trump's "fake news" slurs... | | -- T-Mobile is acquiring the cable startup Layer3 TV "as the wireless carrier prepares to enter the crowded field of online television service next year..." (Bloomberg)
-- "A bankruptcy judge on Wednesday ruled that a defamation lawsuit over a 2016 Deadspin story should not proceed, handing Gizmodo Media Group and parent company Univision a victory against legal challenges to stories published by former Gawker Media blogs..." (Splinter)
-- DeRay McKesson is suing Jeanine Pirro and Fox News because the network would not retract Pirro's claim that he "directed" violence against police officers... (WashPost) | | How Fox overhyped the "anti-Trump texts" story | | In a "highly unusual" move," BI's Natasha Bertrand reports, the DOJ "secretly invited reporters to view texts sent by ousted FBI agents." In Fox shorthand, these are the "anti-Trump texts" that have been a source of intrigue and outrage for over a week. Robert Mueller removed Peter Strzok from his team after the texts were uncovered over the summer. Fox and other conservative outlets have been saying for a week that Strzok and Lisa Page exchanged "over 10,000 texts."
On Tuesday evening, roughly 375 of the texts were released to Congress and shared with news organizations, ahead of Rod Rosenstein's testimony on Capitol Hill on Wednesday. Fox News repeatedly inflated the # and misreported the story, and I haven't seen any correction yet. On Tuesday night, the 11pm news anchor Shannon Bream said Fox had scored all 10,000 texts. The on-screen banner read "FOX NEWS HAS OBTAINED 10,000 TEXTS." Correspondent Kristin Fisher said the same thing: "Shannon, Fox News has JUST obtained those 10,000 text messages... These are the anti-Trump text messages... 10,000 is a big number. We're still going through them."
Bream wrapped the segment this way: "It's a very big story... We are going to continue to pour through these." Fisher agreed: "They're still coming in." Bream: "There is a lot. When you have 10,000 to read, it takes a little time." Fox re-aired this segment four times overnight.
But this mistake was repeated again on "Fox & Friends First" at 5am. At 7am, there was another mistake: Steve Doocy said the pair "sent 10,000 anti-Trump emails, text messages, back and forth." The implication was that Strzok and Page hated Trump so much, they talked about all day everyday, 10,000 times! But no, they apparently sent 10,000 messages total, mostly nonpolitical. But Doocy did get this part right: "Fox News yesterday obtained 375 of them." That's the closest Fox came to a correction. Later in the day, Bream tweeted a "clarification."
Fox's repeated errors led to an awkward exchange between Rosenstein and Hakeem Jeffries. "How is it possible that Fox News apparently has 10,000 text messages?" he asked. Rosenstein said, "I wouldn't assume that's true just because it was in the news, Congressman. I'm not aware of that." | | Speaking of anti-Trump texts... | | Strangest story of the day: Someone tweeted to @realDonaldTrump from @AndersonCooper's account on Wednesday morning, calling Trump a "pathetic loser." The tweet was deleted, and CNN investigated:
"Geolocation tools confirm that the tweet in question was not sent from Anderson Cooper's phone," CNN said Wednesday afternoon. "Anderson was in Washington, and we have proof the tweet was sent from New York, from a phone belonging to his assistant. His assistant inadvertently left his phone unlocked and unattended at the gym early this morning, and someone took the phone and sent the tweet. His assistant, who has worked with Anderson for more than a decade, is the only other person with access to Anderson's Twitter account." Erik Wemple wrote it up here... | | Roy Moore still hasn't conceded... | | | But no one seems to be taking his stubbornness very seriously. Even Breitbart has moved on... And is hyping the GOP tax plan... | | "A giant boost to these journalists" | | | I asked Michelle Holmes, the VP of content for AL.com, Alabama's biggest news organization, what the day-after-the-race felt like. "Everyone is simultaneously elated and exhausted I think!" she said. "Seeing Alabama people, and American people, care this deeply about local news is such a giant boost to these journalists who do this work every day. It's a giant moment for us..." | | Rep. Peter King said Steve Bannon looked like a "disheveled drunk." Karl Rove went with "scruffy out-of-work homeless guy." Slate's headline: "An Eager Nation Awaits Political Supergenius Steve Bannon's Next Move." Here's Paul Farhi's WashPost story, which is all about Bannon and Breitbart's "defeat..."
-- And yet: "I don't think Bannon is going to back off one bit," Gloria Borger reported on CNN. "He's going to use this to energize his people to go after the 'establishment' even more..." | | Day-after notes and quotes | | -- Margaret Sullivan's column about this "encouraging moment:" Moore bashed the media but "voters opted for the truth..."
-- CNN's election night coverage was #1 all night in the 25-54 demo... Fox was #1 among total viewers until 10pm, when MSNBC was tops...
-- Erik Wemple tweeted: NYT says "that the Alabama live results page -- home of the needle -- has had > 13 million pageviews, or among highest this year..." | | "Partisan skepticism inevitably drifts toward media illiteracy" | | | Brian Lowry emails: CNN takes some lumps in Matt Welch's analysis of the partisan media divide, but what stood out was this line about the conservative backlash against mainstream news outlets: "Partisan skepticism inevitably drifts toward media illiteracy. What starts out as a tool for more sophisticated news consumption eventually degrades into an excuse for those who choose not to believe inconvenient journalism." Read Welch's column here... | | -- Donie O'Sullivan's latest: "MP tells Facebook to look harder for Russian Brexit meddling..." (CNNMoney)
-- Megyn Kelly talks with the AP's David Bauder about finding her footing at 9am: "I feel like I'm in a good place right now and so is the show. It's starting to gel..." (AP)
-- Following up on the NYPost's report about Janice Min and Nina Tassler's new TV and digital media production company: I hear producer and director Denise DiNovi is a founding partner of the new venture... Details about the venture TBA... | | Variety's Daniel Holloway broke the news: PBS received allegations of misconduct by talk show host Tavis Smiley... Hired an attorney to investigate... And found "credible allegations." The public broadcaster's announcement: "Effective today, PBS has indefinitely suspended distribution of 'Tavis Smiley,' produced by TS Media, an independent production company."
I've reached out to Smiley for comment, and have not heard back. Here's our full story... | | | "ABC has pulled 'The Great American Baking Show' from its schedule after just one episode following accusations of sexual misconduct against star judge Johnny Iuzzini," TheWrap's Reid Nakamura reports. ABC says it won't air the rest of the pre-taped season... The winner "will be announced in the future..." | | | Salma Hayek says she declined to be interviewed by the reporters who were investigating Harvey Weinstein. "I hid from the responsibility to speak out," she said. But now she is speaking -- through this powerful NYT op-ed -- describing him as a "monster" who, at one point, even said "I will kill you, don't think I can't..." | | Wednesday's other developments | | -- NYT's latest: "Music Mogul Russell Simmons Is Accused of Rape by 3 Women." Simmons "vehemently" denies the allegations...
-- "I am Part of the Problem," Morgan Spurlock says in this new essay... | | | For the record, part three | | | -- Wednesday's Omarosa drama led Fox's Greg Gutfeld to ask: "What network is she coming to? Jesse Watters: "Not this network, I don't think!"
-- This just in: Oprah Winfrey will receive the 2018 Cecil B. de Mille Award at the Golden Globes next month...
-- Fox News is replacing its two-hour block of four business shows on Saturday mornings with a single two-hour show called "Cavuto Live..." (Mediaite)
-- Joe Scarborough is hosting a new NBCSN series about Premier League soccer... (Variety) | | | Jonah Peretti's latest memo/manifesto is about BuzzFeed's need to diversify its revenue streams. "The media is in crisis," he says, essentially blaming Google and Facebook for all sorts of financial and societal problems. He emphasizes a "multi-revenue model" that combines "strong brands with multiple revenue sources," as seen in these "9 boxes": | | | For the record, part four | | | By Julia Waldow:
--"All The Money" but very little time: Brooks Barnes offers a comprehensive, inside look at the action-packed "race to erase Kevin Spacey" from Ridley Scott's upcoming film... (NYT)
-- Interestingly, POTUS didn't make the cut for the top Google searches of 2017... Here's why not, and who did... (CNNTech)
-- Facebook is ending its program that pays publishers and other content creators to produce on-demand and live videos for the news feed... (Digiday)
-- CJR details how some public colleges are cracking down on press access, stating that "the dispute sits at the convergence of two hot button political issues: the anti-media rhetoric of President Donald Trump and efforts to restrict speech on college campuses..." (CJR) | | Germany's Axel Springer joins trade association News Media Alliance | | | Hadas Gold emails: Typically, the new member of a trade association doesn't warrant a news story. But this week, European publishing giant Axel Springer announced it is joining the American trade association that represents online and print media companies, the News Media Alliance, making the publisher the first European company to do so. It's a signal that the problems publishers are facing are global -- and that Axel Springer's long fought battle with the Facebook and Google duopoly in Europe is coming to the United States. Read more... | | If you missed this moment... | | James Corden and his wife have welcomed their third child, a daughter, Lisa Respers France reports.
-- Brian Steinberg tweets: "Bryan Cranston will fill in this evening for James Corden on 'The Late Late Show...'" | | Lowry reviews "Jean-Claude Van Johnson" | | | Brian Lowry emails: Jean-Claude Van Damme plays himself -- except that he's secretly a super-spy -- in Amazon's strange comedy, "Jean-Claude Van Johnson." Read the full review here... | | Here are the SAG Award noms... | | Lisa Respers France writes: The nominations for the 24th Annual Screen Actors Guild Awards were announced on Wednesday, and HBO's limited series "Big Little Lies" continued its seemingly unlimited run of accolades with four nominations. Stars Laura Dern, Nicole Kidman, and Reese Witherspoon all received nods for lead actress in a television movie or miniseries, joining "Feud: Bette & Joan" stars Jessica Lange and Susan Sarandon. The crime-drama film "Three Billboards Outside Ebbing, Missouri" also nabbed four nominations, including best ensemble performance in a motion picture. Here's the full list...
-- More: Sandra Gonzalez recaps the reactions here... | | | For the record, part four | | | | Email brian.stelter@turner.com... I appreciate every message. The feedback helps us craft the next day's newsletter! | | | Get Reliable Sources, a comprehensive summary of the most important media news, delivered to your inbox every afternoon. | | | | | |
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