Business of Media
Discovery sells GB News stake as directors resign in shake-up
US media group Warner Bros Discovery is to sell its stake in the UK’s GB News, in a shake-up which has seen the loss-making television channel’s co-founders sell-up and resign as directors, and the remaining backers step forward with a further £60m in cash, report The Guardian’s Mark Sweney and Jim Waterson.
The fledgling news channel, which originally said its first £60m fund raising last January would last three years, has tapped Legatum Ventures and hedge fund boss Paul Marshall for more funds after just 18 months.
The company also announced that co-founders Andrew Cole and Mark Schneider, who set up GB News’ parent company last February, have resigned as directors and sold their stakes in the business.
See More: HBO Max and Discovery+ to merge as economic instability bites
Musk targets ad tech firms in Twitter suit over takeover deal
Billionaire entrepreneur Elon Musk, who is attempting to walk away from his deal to acquire Twitter Inc, is seeking documents from advertising technology firms as part of his quest to gain more information on bot and spam accounts on Twitter, according to filings in a Delaware court on Thursday, reports Reuters’ Sheila Dang.
Twitter has sued the Tesla chief executive, who has accused Twitter of hiding information about how it calculates the percentage of bots on the service, for attempting to walk away from the $44 billion agreement. The trial is scheduled for Oct. 17.
Brian Stelter Leaving CNN After Cancellation of ‘Reliable Sources’
Brian Stelter, the top media reporter at CNN, is leaving the network after executives decided to cancel his Sunday show, Reliable Sources, in one of the first big programming moves under new leadership at the company, reports The New York Times’ Benjamin Mullin.
The final edition of the show will be on Sunday, a spokesman for CNN said on Thursday.
The cancellation of Reliable Sources — a show that has aired for about three decades — is a striking change by Chris Licht, the new chairman of CNN, who took over this spring after the sudden resignation of Jeff Zucker. Zucker left after failing to disclose a romantic relationship with another top CNN executive.
Under Licht, CNN has eschewed the “breaking news” banners that once heralded stories large and small, and political news shows have tried to book more conservative voices. He has given few other public clues about any possible broader changes at the cable network.
Agencies
JOY make strides with Brooks Running win
Independent integrated agency JOY has announced their new client win, Brooks Running.
Brooks Running and JOY will work together to extend brand awareness and attract new customers to the label.
The footwear company specialises in manufacturing running shoes for every type of runner and various scenarios, including road, trail and distance running.
Amelia Thackway, general manager, JOY said, “We’re excited to start celebrating the power of run with Brooks Running. Their dedication to specialised gear has been an inspiration for avid runners and the footwear industry since 1914, and we look forward to showing Aussies how their running can be enhanced with the right equipment that does its part in helping to protect the environments we enjoy running in.”
As part of their appointment with Brooks, JOY has been tasked with highlighting the brand’s products and their commitment to runners and the planet as they commit to achieving net-zero carbon emissions by 2040. Earlier this year, they released Ghost 14; their first carbon neutral trainer, leading the way for their sustainability revolution.
Wavemaker to continue $50 million partnership with Mondelez in Australia
Wavemaker will continue holding the media account for Mondelez in Australia.
The agency retained the lucrative $50 million media account following a competitive global pitch.
Wavemaker first won the account in 2018, taking over from fellow GroupM agency Mindshare.
As a result of the win, Wavemaker will now be the media agency across all Mondelez brands such as Cadbury, Oreo, the Natural Confectionery Company, Toblerone and Philadelphia in Australia and New Zealand.
Peter Vogel, CEO of Wavemaker, said of retaining the account: “Wavemaker are incredibly proud and excited to continue our partnership with Mondelez in Australia.
“We look forward to building on our partnership and continuing to drive growth for their brands by developing engaging consumer experiences,” he added.
Podcasts
Apple Podcasts adds top subscriber lists, with ‘Morbid’ and ‘SmartLess’ topping chart
Apple Podcasts on Thursday added charts for the top 100 most-subscribed shows and channels available on the platform, reports The Hollywood Reporter’s J. Clara Chan.
Though Apple is not releasing specific subscriber numbers for each show or channel, Morbid — the true crime show hosted by Alaina Urquhart and Ashleigh Kelley — is the top subscription show while Wondery+ is the top subscription channel in the U.S. and Canada, according to Apple, which bases these rankings on a mix of subscription numbers and listener engagement.
For top subscriber shows, Morbid is followed by SmartLess, hosted by Jason Bateman, Will Arnett and Sean Hayes; Something Was Wrong, hosted by Tiffany Reese; Fed Up, narrated by Casey Wilson; and Crooked City: Youngstown, OH, created by Marc Smerling.