ReportWire

Tag: nbcuniversal

  • ‘Traitors’ Star Colton Underwood Finally Faces His Dark ‘Bachelor’ Past

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    What I would say is, unfortunately, a lot of closeted men end their life by suicide. That easily could have been me. I could have been part of that statistic. Instead, I’m here. I will have a lot of sadness and shame about things that I did in my past, and I will have to live with that for the rest of my life. That is on me 100%.

    Even going through this six years later, [The Traitors] was my favorite show I’ve ever done. I didn’t really expect people to draw a line from how I showed up and played Traitors to my past, but that happened. Unfortunately, now I have to relive what happened six years ago with my husband and with my kid, as a father. As somebody who’s changed so much, to see things pop up on social media and to hear certain things—it’s challenging, right? That was such a traumatic time for a lot of people. It’s something I’m gonna always sort of have to own moving forward.

    There are some people in the world—and online—that will simply never forgive you. Why do you keep putting yourself on TV?

    It’s a great question. “Why do you keep putting yourself through this, dude? Like, go away if you don’t want it.” (Laughs.) I love the entertainment industry. I love representing same sex couples who want to have kids, hosting Daddyhood [Underwood’s podcast]. Having some of my gay friends reach out and be like, “It was so cool to watch you grab Rob’s backpack [on The Traitors]. Like, that representation on television was epic to see from a gay man. Oftentimes we have to shrink ourselves when we enter these masculine spaces, and the fact that you like put your chest out was really cool to see.”

    What gets me to show up every single day is the lives that I’ve saved. I say that because I’ve received messages from people across not only our country, but like, because of Netflix, the world, saying, “I didn’t see a path out. I didn’t know what my life was, but watching your story and watching what you went through helped me come out and saved my life.” Those are the ones that I hold onto dearly and that motivate me, that make my skin a little thicker.

    But don’t get me wrong, I still have days where I just want to go away. (Laughs.) I wanna live on a farm. I never want to be seen. I texted my team after the reunion—I was like, “I need to go away and get off camera.”

    Okay, last question: the banquet outfit. What were you thinking?

    I stand by it.

    Really? Defend it.

    Alan Cumming went on Watch What Happens Live and called it “castle couture.” Like, if I have Alan Cumming’s stamp of approval…. By the time of that banquet, the dog pile was already happening on social media. I was an easy target, low-hanging fruit. We did receive a mood board from production of what that night was gonna be. And if you saw the mood board, you’d be like, “Okay, he showed up. He delivered. He is the mood board.” You’re in Scotland playing Traitors, and it is one of the gayest shows on television. I wanna lean into it.

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    Chris Murphy

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  • Milan Cortina Olympics Attracts 23.5 Million Viewers Across NBCUniversal and Versant Outlets, Best Winter Games Since 2014

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    As Team USA ended the Milan Cortina Olympics with 12 gold medals — the best performance ever at a Winter Games — NBCUniversal is also touting a shiny performance for its coverage of the 17-day event. According to the company, this repped the most-watched Winter Olympics in the U.S. since 2014.

    This year’s Winter Games coverage (which spanned 3,200 hours and 116 events) averaged 23.5 million viewers via NBC, Peacock, NBCUniversal’s digital platforms and Versant’s USA Network and CNBC. That includes the “Milan Prime” afternoon window (2 p.m. to 5 p.m. ET) and the U.S. primetime (8 p.m. to 11 p.m.) time periods. According to NBCU, it’s the best Winter Games performance since the Sochi Games in 2014, and was up 96% from the Beijing Winter Games in 2022 (12 million).

    According to NBCU, all full 15 competition days (Feb. 7 to Feb. 21) averaged over 20 million viewers. Also, “Milan Prime” (live in daytime) and “Primetime in Milan” averaged 3.3 million viewers daily streaming across Peacock and NBCU digital.

    Among big events, the USA women’s hockey team’s victory over Canada on Thursday was the most-watched women’s hockey game ever (5.3 million viewers on USA Network and Peacock).

    Among local markets, Milwaukee was tops — with a 13.7 rating/49 share, followed by Minneapolis (13.5/53) and Fort Myers, Fla. (13.1/42). In social, NBCU said its Milan Cortina Olympics content registered 4.28 billion impressions across NBC Sports social channels up 437% increase vs. the Beijing Olympics in 2022 and 231% above the 2018 PyeongChang Olympics.

    “These Olympics captured everyone’s imagination in ways no one could have predicted,” said Molly Solomon, the executive producer and president of NBC Olympics Production. “The settings were stunningly beautiful, providing a spectacular backdrop for the intense competition. The technology – including enhanced audio and drones – coupled with the unprecedented access we had to athletes and their lives allowed us to take the audience inside their stories in fresh, meaningful ways. And Team USA represented the best of every one of us, giving us so much to look forward to for many Olympic Games to come.”

    Added NBC Olympics prexy Gary Zenkel: “The Milan Cortina Olympics proved once again that the American audience will gather in large numbers over 17 days to experience this unmatched global competition. These Winter Games — superbly hosted across northern Italy, and produced and distributed by a team of 2,700 — reached blockbuster U.S. audiences of more than 50 million viewers each day, continuing the media dominance we experienced less than two years ago at the Paris Olympics. We can’t wait for the return of the Olympics to the United States with the Summer Olympics in Los Angeles in 2028 and are ecstatic to be the U.S. media home of five Olympic Games over the next decade.”

    The Winter Olympics wrapped what NBCU was calling “Legendary February,” with the Winter Olympics, Super Bowl LX and the NBA All-Star Game, all in the same month.

    “Beginning with the February 1 debut of Sunday Night Basketball, our NBC Sports and Olympics personnel delivered a truly ‘Legendary February’ to our audiences on NBC, Telemundo, Peacock and Versant’s USA Network and CNBC that definitely exceeded our expectations,” said NBC Sports president Rick Cordella.

    With that schedule of sports events, Peacock is boasting it best month ever, helping bolster entertainment fare like “The Burbs,” which had Peacock’s highest first-day original debut. Also, four of Peacock’s top 10 usage days of all time and seven of its top 10 largest reach days took place during the Milan Cortina Olympics.

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    varietyschneider

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  • Comcast Extends Mike Cavanagh’s Contract, Grants $35M In Stock Awards As Exec Set To Become Co-CEO

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    Comcast has entered into a new employment agreement with Michael Cavanagh in connection with his upcoming appointment as co-chief executive officer alongside Brian Roberts starting January 2. The contract secures Cavanagh’s employment through January 1, 2029, the company said in an SEC filing.

    Cavanagh will be entitled to an annual base salary of $2.75 million and his annual performance-based cash bonus target will continue to be 300% of his base salary. Cavanagh also received an award of performance-based restricted stock units valued at approximately $35 million.

     The number of shares was determined by using a five-day volume weighted-average price of Class A common stock for the period ending the day before the record date for the planned Versant spin-off, an initiative he spearheaded. The performance award will vest in three years pegged to satisfying some time-based and performance-based conditions.

    The NBCUniversal parent officially spins off Versant Media Media Group into a standalone public company that will begin trading on the Nasdaq Jan. 5 under the stock symbol VSNT. It houses NBCU cable networks (except Bravo) and digital assets like Fandango and Rotten Tomatoes. Comcast announced plans about a year ago to separate out its cable assets from its core broadband business and the rest of NBCU. It set Mark Lazarus as CEO with a new leadership team.

    Not long after Comcast unveiled the move, Warner Bros. Discovery followed with its own plan to split and separate out linear television in a new entity called Discovery Global. WBD this month struck a deal to sell the faster growing Warner Bros. studios and streaming to Netflix, although David Ellison’s Paramount is still in hot pursuit.

    Versant said at its first investor day recently that it expects to generate $6.6 billion in revenue, $2.2 billion in EBITDA (earnings before interest, taxes, depreciation and amortization) and $1.4 billion in free cash flow for 2025. It will launch with $3 billion in gross debt, $750 million in cash and $1.5 billion in total liquidity. While cable throws off cash, it is in decline. The new company outlined a strategy of shifting its revenue mix towards areas with stronger growth potential, announcing a DTC offering for MS Now (formerly MSNBC) in the works and new FAST channels, among other initiatives.

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    Jillg366

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  • ‘Wicked’ to Air on NBC Ahead of ‘Wicked: For Good’ Theatrical Release

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    Wicked” will make its broadcast debut on NBC on Nov. 19.

    NBCUniversal is putting last year’s Universal Pictures blockbuster on linear television just two days before sequel “Wicked: For Good” hits theaters on Nov. 21.

    “Wicked” earned $756 million at the global box office, making it the most profitable Broadway film adaptation of all time. It hit $473 million in the U.S. alone, a higher domestic gross than any film that has come out since its release on Nov. 22, 2024. It was also a major player during awards season, picking up 10 Oscar nominations including best picture. At the Oscars, the British Film Academy Awards and the Critics’ Choice Awards, the film took home prizes for both costume and production design, and at the Golden Globes, it won in the cinematic and box office achievement category.

    Directed by Jon M. Chu, “Wicked” and “Wicked: For Good” star Cynthia Erivo as Elphaba and Ariana Grande as Glinda. Per the official description, the sequel seems them “estranged and living with the consequences of their choices. When a girl from Kansas comes crashing into their lives, they will need to come together one final time, and truly see each other, if they are to change themselves, and all of Oz, for good.”

    Along with Erivo and Grande, the cast includes Jonathan Bailey, Ethan Slater, Bowen Yang, Marissa Bode, with Michelle Yeoh and Jeff Goldblum. Marc Platt and David Stone, who produced the original Broadway musical, also produce the films.

    On Nov. 6, NBC will air “Wicked: One Wonderful Night,” a two-hour musical special starring Cynthia Erivo and Ariana Grande singing music from the films alongside their castmates. The special will also feature cast interviews and behind-the-scenes moments sneak peeks.

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    Selome Hailu

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  • NBCU, Google Ink Long-Term Carriage Deal for YouTube TV, Which Will Add Relaunched NBC Sports Network This Fall

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    NBCUniversal and Google have reached a mulityear distribution agreement to keep NBC and NBCU’s suite of other networks on YouTube TV.

    In addition to the current NBCU slate, under YouTube TV deal renewal, the streaming service will carry the newly relaunched NBC Sports Network (NBCSN). NBCU said that the new NBCSN, to launch later this fall, “will complement the prominent sports properties presented year-round on the NBC broadcast network.” The company had previously shut down NBCSN in 2021.

    The deal announcement Thursday came after the companies’ previous agreement expired Sept. 30; the parties reached a short-term extension to hammer out final details. YouTube TV is the U.S.’s biggest internet pay-TV service, with an estimated 9.5 million customers as of the end of 2024, according to research firm MoffettNathanson.

    The agreement continues YouTube TV’s carriage of NBCUniversal’s full portfolio of networks, including NBC, Bravo, CNBC, Golf Channel, E!, Oxygen True Crime, MSNBC, USA, Syfy, Telemundo and Universo. The company’s cable networks (excluding Bravo) will be part of the Versant spin-off, a transaction expected to close by the end of 2025.

    In addition, the NBCU-Google deal calls for Peacock to be available in the coming months as a subscription through YouTube Primetime Channels, the platform’s third-party subscription offering (which is independent of YouTube TV). The companies also entered into a multiyear extension of Peacock’s availability across Google’s Android platforms, including Google Play and Google TV.

    Separately, YouTube TV dropped Univision and other TelevisaUnivision-owned networks on Tuesday evening, after Google and the Hispanic media giant failed to reach terms on a carriage renewal. Their previous agreement also expired on Sept. 30.

    “Our new agreement with Google is a clear win for both our business and our viewers — underscoring the enduring value of our must-see shows, films, sports, and live events while expanding our reach to even more audiences,” Matt Schnaars, NBCU’s president of platform distribution and partnerships, said in a statement. “We’ve secured long-term access to our full portfolio of broadcast and cable networks on YouTube TV, and we’re advancing our Peacock strategy with an upcoming launch on YouTube Primetime Channels and ongoing presence on Google TV. This agreement positions us for continued growth and reflects our commitment to delivering exceptional entertainment to fans across platforms.”

    Justin Connolly, VP, global head of media and sports at YouTube, commented: “This deal builds on our long-standing partnership with NBCU while addressing the evolving media landscape and recognizing the importance of making content available where and how viewers want to watch it. We are pleased to have reached this agreement and look forward to continuing our partnership to serve billions of viewers around the world.”

    Other elements of the NBCU-Google deal include:

    • A long-term agreement for short-form clips, highlights and shows from NBCU’s premium programming on YouTube; and
    • An extension of the agreement making Universal Pictures Home Entertainment films and TV shows available to buy or rent on Google TV, YouTube TV and YouTube, as well as library films from NBCUniversal Global TV Distribution being available to stream via subscription VOD on YouTube Premium and ad-supported VOD through YouTube Free Primetime Content.

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    Todd Spangler

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  • DraftKings Teams Up with NBCUniversal • This Week in Gambling

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    In a move that underscores the growing integration of sports betting and mainstream media, DraftKings has struck a multi-year advertising agreement with NBCUniversal. The deal gives the gambling operator exclusive integration and sponsorship rights across NBCUniversal’s sports media assets.

    Under the agreement, DraftKings will be visible on linear, digital, and streaming platforms tied to marquee events and leagues, including NFL, NBA, PGA TOUR, Ryder Cup, WNBA, NCAA football and basketball, and the 2026 FIFA Men’s World Cup as carried on Telemundo. The partnership also grants DraftKings exclusive sponsorship access to categories such as online sports betting, daily fantasy sports, online lottery products, iGaming, and online horse wagering.

    DraftKings’ Chief Marketing Officer, Stephanie Sherman, said the company is joining forces with NBCUniversal to enhance how fans experience live sports and strengthen its live betting capabilities. From NBCUniversal’s perspective, partners see DraftKings as a strong fit for expansion across sports entertainment, according to Peter Lazarus, Executive Vice President of Advertising and Partnerships for NBC Sports.

    This agreement differs notably from NBCUniversal’s prior partnership with PointsBet, which was announced in 2020 and spanned five years with equity and affiliate fees components. The DraftKings deal is structured purely as an advertising commitment. Analysts estimate the annual value falls below $100 million, significantly lower than the nearly $500 million total value attributed to the earlier PointsBet arrangement over its full term.

    The timing of the deal reflects a shift in how sportsbooks approach marketing. With legal sports betting now accessible to more than 67 percent of U.S. adults, operators increasingly emphasize brand positioning in populous states that remain off limits rather than aggressive acquisition in newly opened markets. DraftKings and its main rival, FanDuel, together account for roughly 70 percent of U.S. online sports betting handle.

    In the second quarter of 2025, DraftKings reported $233.2 million in sales and marketing expenses, up 8 percent from the same period in the prior year. The company continues to maintain media partnerships with networks such as Warner Bros. Discovery’s Turner and Amazon’s Thursday Night Football, following the end of its earlier deal with ESPN in 2023 after the launch of ESPN Bet.

    The NBCUniversal alliance represents a strategic bet by DraftKings: using high-profile media exposure and exclusive sponsorship access to deepen market presence and reinforce its brand ahead of further state-level expansions.

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    This Week in Gambling

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  • Universal Studios Hollywood Expansion Plans Revealed

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    The new filling worried some fans about the future of fan-favorite ride WaterWorld

    Credit: Tada Images via Adobe Stock

    New documents submitted to Los Angeles County in June reveal more information regarding an upcoming expansion of Universal Studios Hollywood, as part of a multi-decade project.

    The “Evolution Plan,” as it’s called, was first unveiled in 2006 with an estimated cost of around $7 billion. The plan includes expansions to the exciting studio, theme park, retail, hotel and entertainment areas. The “Evolution Plan” was officially filed in 2013 and promises a multi-decade time frame.

    “The NBC Universal Evolution Plan is a comprehensive planning and development effort to maintain Universal City’s status as a center of entertainment and tourism,” says the official plan guidelines. “To meet the future needs of southern California’s entertainment industry, and to allow the site to grow in a way that is compatible with Los Angeles.”

    The latest filing of the plan, which was originally submitted for a new technical services building set behind the E.T. parking garage, also includes a map with more never-before-seen conceptual plans for the “Evolution Project.” Fans were quick to notice that a site currently occupied by fan-favorite stunt show WaterWorld is overlaid on the map with a designation for a “New Theme Park Attraction w/ Food & Beverage Retail.”

    While Universal currently has no plans to remove WaterWorld, the map does grant them the authority to do so in the future or simply expand the land around it. This left many theme-park fans nervous about the future of WaterWorld, which was originally introduced to the park in 1995. Theme Park Insider speculated about the possibility of an “entire WaterWorld land around the show theater,” like Universal’s parks in Asia currently have.

    The map also indicates a brand new CityWalk “Future Destination Venue,” as well as “Parking/Tram maintenance” in a section currently being used for Halloween Horror Nights. The future 500-room hotel originally included in the proposal is also designated on the map, yet Universal has yet to announce the project officially.

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    Ella Mordarski

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  • NBCUniversal Sets 4-Day-A-Week Return To Office Plan

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    NBCUniversal is phasing in a mandate for employees to work at least four days a week in the office.

    News of the updated policy due to take effect on January 5, 2026, was conveyed to employees by COO Adam Miller in a memo, a copy of which was obtained by Deadline.

    “As we look ahead toward an exciting 2026 and reflect on the past years, it has become increasingly clear that we are better when we are together,” Miller wrote. “As we have all experienced, in-person work and collaboration spark innovation, promote creativity, and build stronger connections.”

    The move follows a number of similar initiatives across the media and entertainment sector. Paramount last week made the eye-opening decision to implement a five-days-a-week mandate, following in the mold of tech giants like Amazon, which have cited productivity advantages from workers collaborating in person.

    NBCU parent Comcast has already gone to a 4-day in-person work week.

    Industries like finance have also moved toward a full-time in-person stance. The commercial real estate market in New York and other major cities has lagged behind national occupancy rates coming out of Covid. NBCU has a significant number of employees at its longtime base at 30 Rock in Midtown Manhattan. The Los Angeles home of NBCU at Universal City recently got some upgrades, including a new commissary, which could have also factored into the larger thinking.

    Here’s Miller’s full memo:

    Hi all,

    I’m reaching out to share an update to our in-office schedule for hybrid employees. As we look ahead toward an exciting 2026 and reflect on the past years, it has become increasingly clear that we are better when we are together. As we have all experienced, in-person work and collaboration spark innovation, promote creativity, and build stronger connections.

    To that end, effective Monday, January 5, 2026, the company will implement a 4-day in-office workweek for hybrid employees, who will now be required to be onsite from Monday through Thursday, with the continued option to work remotely or in the office on Fridays. We recognize that for some of you, being onsite on Fridays is part of your role, and for others, it’s a choice. Our offices are open daily, and we encourage everyone to take full advantage of working together in person.

    Flexibility will remain an important part of our culture, and the company will continue to accommodate life events with options such as time off, adjusted hours, or additional remote days when appropriate. As always, employees should discuss these needs with their manager as they arise. We understand you may need to make adjustments to adhere to this change. We ask that you use the time between now and January to make any necessary plans. If you will not be prepared to comply with the 4-day in-office requirement by January 5, 2026, please discuss your options with your HR manager. If you are VP level or below, you may be eligible for a voluntary exit assistance package.

    We have a lot to look forward to across the company as we gear up for 2026: an unprecedented “Legendary February” featuring the Milan-Cortina Olympics, Super Bowl LX and the NBA All-Star Game; the 2026 FIFA World Cup on Telemundo; the opening of our first-ever Universal Kids Resort; and NBC News’ coverage of the midterm elections. We’ll also celebrate important film releases, including Christopher Nolan’s The Odyssey; Illumination’s Minions 3 and a new original film from Steven Spielberg, as well as new and returning series across Bravo, Peacock and NBC including The Real Housewives of Rhode IslandThe Burbs and The Traitors returning to Peacock plus premiering for the first time on NBC. And of course, we will celebrate the 100-year anniversary of NBC.

    It is shaping up to be quite a year, and I am looking forward to working with you all to bring it to life.

    Adam Miller

    Chief Operating Officer, NBCUniversal

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    Dade Hayes

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  • MSNBC Is Rebranding As MS NOW

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    MS NOW, née MSNBC.
    Photo: Versant

    MSNBC is getting a new name and logo later this year, marking the first major public-facing change to come out of Versant’s upcoming split from NBCUniversal. What’s going on, which other networks will be affected, and will there be a board for Steve Kornacki to drawn on?

    MSNBC will become MS NOW (short for “My Source for News, Opinion, and the World”). “This new name underscores the brand’s mission to serve as the destination for domestic and international breaking news and the best-in-class opinion journalism,” Versant CEO Mark Lazarus announced in a memo obtained by The Hollywood Reporter. “MSNBC has been building toward this moment and welcoming a wave of exceptional journalists to their newsgathering operation. Most importantly, while the name will be different, the brand’s commitment to its audience will not change.”

    MSNBC echoed that sentiment in a public statement confirming the new moniker on August 18. “For our viewers who have watched us for decades, it may be hard to imagine this network by any other name. We understand,” the statement said. “But our promise to you remains as it always has. You know who we are, and what we do.”

    MSNBC has been recruiting for about 100 new roles — and will shed NBC’s signature tail feathers from its logo, network president Rebecca Kutler confirmed in an internal email. “During this time of transition, NBCUniversal decided that our brand requires a new, separate identity,” she wrote. “This decision now allows us to set our own course and assert our independence as we continue to build our own modern newsgathering operation. The future of our success is not tied to remaining within the NBC family and using the peacock as part of our identity.”

    A fair question, considering that it’s less than a year old. In November 2024, NBCUniversal announced that it would spin off most of its cable networks — including MSNBC, USA, CNBC, E! Entertainment, Oxygen, and the Golf Channel — into a new publicly traded media company called Versant. Per Axios, this corporate split is expected to be finalized by the end of 2025. Versant’s portfolio also includes digital companies Fandango, Rotten Tomatoes, GolfNow, GolfPass, and SportsEngine.

    Yup. MSNBC and NBC News were previously under the same corporate structure, but this upcoming Versant split will put an end to that era, and at least one MSNBC host seems excited for the challenge. “If there was ever a time for us to change our name, this is it — because we’re not just separating from NBC News in corporate terms, we’re competing with them now,” Rachel Maddow said in an email to Variety. “So I think the distinction is going to be good for us. What NBC doing in its legacy timeslots — the Today Show, Nightly, Meet the Press — is just a world away from the 24/7 totally independent news operation that we’re able to stand up now, thanks to the spin-off.” It sounds like NBC should expect plenty of competing Capitol coverage; according to reports from fellow Versant brand CNBC, MNSBC MS NOW has hired reporters from CNN, Bloomberg, Politico, and other outlets to establish its first-ever Washington, D.C., bureau.

    Now we’re asking the real questions. According to Adweek, the “map daddy” of MSNBC’s Election Night coverage is sticking with NBC as the chief data analyst for NBC News and NBC Sports.

    USA Network and Golf Channel will merge into a new USA Sports brand, which will join MS NOW in getting a new peacockless logo. And because NBCUniversal wants to keep its bird branding to itself after the split, you can also expect new logos for CNBC, GolfNow, and SportsEngine.

    Returning to the MSNBC name would feel a little counter to Versant’s clear goal of getting people to stop associating it with NBC. But hey, we lived to see HBO Max die and come back, so who knows?

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    Jennifer Zhan

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  • Media and Tech Titans Arrive At Sun Valley 2024: In Photos So Far

    Media and Tech Titans Arrive At Sun Valley 2024: In Photos So Far

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    Shari Redstone arrives at the Allen & Co. Sun Valley Conference on July 9, 2024 in Sun Valley, Idaho. Getty Images

    Today (June 9) marks the start of this year’s Allen & Co. conference in Sun Valley, Idaho. Known as the “summer camp for billionaires,” the annual get-together has since 1983 drawn in industry leaders across media, tech, politics and finance. Each year, the wealthy and elite touch down in private jets at the nearby Friedman Memorial airport, which describes the conference as its “annual fly-in event” and today experienced delays due to flight volume.

    Convening at the Sun Valley Lodge, attendees will spend the next few days networking and attending private lectures on topics like national security, health care and education.

    Media and tech titans like Shari Redstone, the chairwoman of Paramount Global who just agreed to a long-awaited merger with Skydance Media; OpenAI CEO Sam Altman and Warner Bros. Discovery (WBD) CEO David Zaslav have already been spotted outside the event. More than 60 power players in total have been invited to the exclusive conference, which has famously been the site of deals like Comcast (CMCSA)’s acquisition of NBCUniversal, Jeff Bezos’ acquisition of the Washington Post and The Walt Disney Company (DIS)’s acquisition of Capital Cities/ABC.

    Who’s been seen at Sun Valley 2024 so far?

    Sam Altman, CEO of OpenAI

    Man in grey shirt driving away in golf cart Man in grey shirt driving away in golf cart

    Shari Redstone, chairwoman of Paramount Global and president of National Amusements

    Woman in red sweater stands next to white carWoman in red sweater stands next to white car

    David Zaslav, CEO of Warner Bros. Discovery

    Man in grey jacket stands outside in front of white carMan in grey jacket stands outside in front of white car

    Barry Diller, chairman of IAC

    Man in white shirt wheels bicycle Man in white shirt wheels bicycle

     

    This story is developing. Please check back for updates.

    Media and Tech Titans Arrive At Sun Valley 2024: In Photos So Far

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    Alexandra Tremayne-Pengelly

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  • Amazon’s New Video Ad Chief Is the Latest Former NBCUniversal Exec to Join Big Tech

    Amazon’s New Video Ad Chief Is the Latest Former NBCUniversal Exec to Join Big Tech

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    Krishan Bhatia is Amazon’s new global ad sales chief. Penske Media via Getty Images

    Amazon (AMZN) continues to build out its advertising team after making the move to introduce ads to Prime Video for basic subscriptions. The tech giant’s latest addition is Krishan Bhatia, a former ad sales executive at NBCUniversal, who left last September after 18 years with the media company. In the newly created role of VP of global video advertising sales, Bhatia will be leading Amazon Prime Video’s advertising sales and Amazon’s other streaming offerings, including Twitch and Freevee. 

    Bhatia is the latest in a string of former NBCUniversal executives who have joined tech companies that are making foray into the media business. Last month, Apple (AAPL) hired Joseph Cady, who previously served as head of advanced advertising and partnerships at NBCUniversal, to join its advertising team. Apple’s streaming service Apple TV+ still does not have an ad-supported subscription yet, but the hire suggested an ad tier could be in the works. Cady was the last person to hold his role at NBCUniversal. 

    Last year, Linda Yaccarino, the former NBCUniversal chair of global advertising, was hired by Elon Musk as CEO of X, formerly Twitter, as the tech billionaire looked for a media expert to turn around X’s slumping advertising business. Yaccarino’s impact has been difficult to assess because of Musk’s volatile relationship with X’s advertisers and his strong influence on key company decisions.    

    Outside of advertising, Netflix also recently brought on a former NBCUniversal executive. The streaming giant in February hired Jeff Gaspin, who served as chairman of NBC Universal Television Entertainment from 2009 to 2011, to lead its unscripted series division.

    Amazon has been making major ad hires from other media giants as well. In January the company brought on a former ad-tech chief from The Walt Disney Company, Jeremy Helfand, to lead global advertising at Prime Video.  

    In a letter to shareholders this week, Amazon CEO Andy Jassy boasted about Prime Video’s potential after implementing ads for the platform’s 200 million monthly viewers, saying it can become a large and profitable business in its own right. Jassy noted that “streaming TV advertising is growing quickly and off to a strong start.”

    Amazon’s advertising revenue grew 24 percent last year to $47 billion, which was driven mainly by sponsored ads. The e-commerce giant also spent almost $19 billion on content in 2023, an increase from $16.6 billion the year prior. 

    Amazon’s New Video Ad Chief Is the Latest Former NBCUniversal Exec to Join Big Tech

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    Nhari Djan

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  • David Letterman Fast Facts | CNN

    David Letterman Fast Facts | CNN

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    CNN
     — 

    Here is a look at the life of former late-night talk show host David Letterman.

    Birth date: April 12, 1947

    Birth place: Indianapolis, Indiana

    Birth name: David Michael Letterman

    Father: Harry Letterman, florist

    Mother: Dorothy (Hofert) Letterman Mengering

    Marriages: Regina Lasko (March 19, 2009-present); Michelle Cook (divorced)

    Children: with Regina Lasko: Harry Joseph

    Education: Ball State University, B.A., 1969

    Letterman is the founder of the production company Worldwide Pants, which produced “Late Show with David Letterman.”

    Is a co-owner of Rahal Letterman Lanigan Racing.

    Letterman has been nominated for 50 Emmy Awards and won five.

    “Late Night with David Letterman” was nominated for 25 Emmy Awards and won three.

    “Late Show with David Letterman” was nominated for 76 Emmy Awards and won nine.

    “My Next Guest Needs No Introduction with David Letterman” has been nominated for four Emmy Awards.

    1969 – Begins working as an announcer and weekend weatherman at WLWI (now WTHR), an ABC affiliate in Indianapolis, Indiana.

    1975Moves to Los Angeles and begins performing stand-up at the Comedy Store. Later he is hired by Jimmie Walker, star of the CBS sitcom “Good Times,” as a writer.

    1978 – Appears on Mary Tyler Moore’s variety show, “Mary.”

    November 1978Makes the first of 22 appearances on “The Tonight Show” hosted by Johnny Carson. Letterman also serves as a guest host on “The Tonight Show” several times.

    June 23, 1980-October 24, 1980 Hosts “The David Letterman Show,” a daytime talk show on NBC.

    February 1, 1982-June 25, 1993 – Hosts “Late Night with David Letterman” on NBC.

    September 23, 1984 – Wins the Emmy for Outstanding Writing in a Variety or Music Program.

    September 18, 1985 – Premiere of the “Top Ten” list.

    September 22, 1985 – Wins the Emmy for Outstanding Writing in a Variety or Music Program.

    September 21, 1986 – Wins the Emmy for Outstanding Writing in a Variety or Music Program.

    September 20, 1987 – Wins the Emmy for Outstanding Writing in a Variety or Music Program.

    May 1992 – Carson announces his retirement and speculation begins that Letterman will replace him.

    January 1993 – After it is announced that Jay Leno will take Carson’s place, Letterman announces he will be leaving NBC for CBS, and expresses anger over what he regards as NBC’s poor treatment of him.

    August 30, 1993-May 20, 2015 – Host of “Late Show with David Letterman.”

    September 11, 1994 – Wins the Emmy for Outstanding Variety, Music Or Comedy Series.

    March 27, 1995 – Hosts the Academy Awards.

    January 14, 2000 Letterman undergoes quintuple bypass surgery.

    September 17, 2001 – Is the first late-night talk show host to return to air after the September 11 terrorist attacks. Instead of starting the show with a humorous monologue, Letterman mourns those lost and praises the city’s firefighters and police officers. His first guest, CBS anchor Dan Rather, breaks down in tears during the broadcast.

    March 31, 2003 Letterman returns to his show after being out for nearly a month due to shingles.

    March 17, 2005 – Kelly Frank, a house painter who worked on Letterman’s Montana ranch, is charged with plotting to kidnap Letterman’s son for ransom. In September, Frank pleads guilty to a lesser charge and is sentenced to 10 years in prison. In 2007, he escapes, but is later recaptured.

    October 1, 2009 Letterman admits on air that he has had sexual relationships with female staff members and that someone has been attempting to blackmail him over the affairs.

    October 5, 2009 – Letterman apologizes to his wife and female staffers in front of a live studio audience.

    March 9, 2010 – Robert “Joe” Halderman, a former CBS News producer accused of trying to blackmail Letterman, pleads guilty to attempted second-degree grand larceny and is sentenced to six months in jail, five years’ probation and 1,000 hours of community service. In September, Halderman is released after serving four months of his six-month prison sentence.

    April 2012 – Extends his contract with CBS through 2014.

    December 2, 2012 – Is honored at the Kennedy Center Honors gala along with Buddy Guy, Dustin Hoffman, Natalia Makarova and the musical group Led Zeppelin.

    October 4, 2013 – Extends his contract with CBS through 2015.

    April 3, 2014 – During a taping of “The Late Show,” Letterman announces that he will be retiring in 2015.

    May 20, 2015 – Tapes his final show. Counting his work on both NBC and CBS, this is show number 6,028 for Letterman.

    October 30, 2016 – Letterman’s segment on climate change for the “Years of Living Dangerously” series airs on the National Geographic Channel. The episode follows Letterman as he travels around India discussing India’s zealous renewable energy plan.

    October 22, 2017 – Is awarded the Mark Twain Prize for American Humor.

    January 12, 2018 – In the debut of his new Netflix series “My Next Guest Needs No Introduction,” Letterman interviews former US President Barack Obama. Guests scheduled for the rest of Letterman’s shows include George Clooney, Malala Yousafzai, Jay-Z, Tina Fey and Howard Stern.

    February 1, 2022 – “Late Night” host Seth Meyers welcomes Letterman to help celebrate the show’s 40th anniversary.

    December 12, 2022 – Letterman’s interview with Ukrainian President Volodymyr Zelensky for “My Next Guest Needs No Introduction” debuts on Netflix. Letterman traveled to Kyiv for the wartime interview, which took place in an underground subway station.

    ‘Late Show with David Letterman’: Our top 10 moments

    November 20, 2023 – Returns to his former studio for the first time as a guest on “The Late Show with Stephen Colbert.”

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  • REPORT: Vanity Fair to Publish Expose on Bravo Exposing What Goes on Behind-the-Scenes of Real Housewives After Speaking to Stars About Mental Health, Drinking, and More

    REPORT: Vanity Fair to Publish Expose on Bravo Exposing What Goes on Behind-the-Scenes of Real Housewives After Speaking to Stars About Mental Health, Drinking, and More

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    REPORT: Vanity Fair to Publish Expose on Bravo Exposing What Goes on Behind-the-Scenes of Real Housewives After Speaking to Stars About Mental Health, Alcohol Use, and More

    Credit: Bravo

    Vanity Fair is expected to publish what is being described as a “deeply reported probe” into Bravo‘s relationship with its Real Housewives cast members in the coming weeks after conducting months of interviews not only with the franchise’s stars but also with other sources connected to the shows.

    According to a new report, the magazine will allegedly address the many demands faced by the ladies of the franchise, as well as the status of their mental health, the amount of alcohol they consumed on their shows, and the sacrifices they made to retain their roles from year to year.

    “[The journalist] is really going deep into what the women go through and what’s expected of them as members of the cast and members of the ‘Bravo family,’” an insider told Page Six on October 19. “I think it’s going to explain a lot that fans don’t really see or understand about how it really works.”

    Following about six months of extensive research, Vanity Fair will reportedly zone in on the challenges Real Housewives cast members face when it comes to giving up their privacy and risking their images in exchange for what has been reported as large, often million-dollar paychecks.

    As the magazine prepares to share its findings, Page Six claims that those working behind the scenes at Bravo’s headquarters are getting nervous about what may be revealed. However, at the same time, another source claimed that network executives are actually not “sweating it,” stating that they are used to being in the spotlight.

    In addition to sharing their experience with Bravo, the Real Housewives interviewed are expected to divulge whether or not the sacrifices they’ve made for the show have been worth their while.

    Other topics reportedly coming soon include the control — or lack thereof — the women had over their stories. They’ll also discuss the protocols and guidelines Bravo has in place for ensuring the well-being of its cast members — and if they are effective.

    As Bravo fans well know, the network and its parent company, NBCUniversal, have been under fire in recent months due to ongoing claims about the supposed mistreatment of their casts — and former Real Housewives of New York City star Bethenny Frankel, 52, has been leading the charge against them.

    Just months ago, in a legal letter sent to NBC’s representation, Kimberley Harris, by attorneys Bryan Freedman and Mark Geragos, the media giants were accused of putting their stars through “grotesque and depraved mistreatment” and of making “deliberate attempts” to “manufacture mental instability” by providing them with “alcohol while depriving them of food and sleep, as well as denying mental health treatment for those displaying obvious and alarming signs of mental deterioration.”

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    Lindsay Cronin

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  • It will be more confusing than ever to watch an NFL game this season | CNN Business

    It will be more confusing than ever to watch an NFL game this season | CNN Business

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    New York
    CNN
     — 

    You’re going to need a play-call sheet to keep track of where to watch the National Football League on television this season.

    The NFL season kicked off Thursday night with the Detroit Lions winning a surprise upset over the reigning Super Bowl champion Kansas City Chiefs.(NBC and its Peacock app aired the game under its “Sunday Night Football” rights.)

    Long gone are the days when NFL games were shown on one or two networks. The league is showing more games across broadcast networks, cable, and digital streaming platforms this season than ever before, and more games exclusively on streaming.

    NBC, Fox, CBS, ESPN/ABC — as well as their streaming apps — and Amazon will all broadcast some games this year. The NFL’s own streaming app and YouTube TV will also stream some games.

    Here’s why there are so many different channels and streaming services, which many people might not even have, to watch the NFL.

    It’s all happening now because the NFL is television’s most valuable product, especially as the media and tech industries face turmoil and more people than ever end their pay-TV subscriptions. The NFL in 2021 signed more than $100 billion in media deals over 11 years, which included the rights to more games on streaming services.

    The owners of CBS, ESPN, ABC and NBC -— Paramount, Disney, and Comcast, respectively -— are pouring billions of dollars into their streaming services, which they see as the future of their businesses. They are showing more NFL games on streaming platforms, including games exclusively, to try to entice people to sign up.

    The decline in traditional broadcast and cable television viewership is accelerating, and the NFL is the “glue” holding the pay-TV bundle together, media analysts at MoffettNathanson said in a report Thursday.

    Last season marked the first-time people were able to watch three of the five NFL game packages through streamers.

    This season will also feature a few firsts: NFL Sunday Ticket offered on YouTube; a streaming-only playoff game on Peacock; and Amazon Prime Video’s Black Friday game.

    ESPN+ will air an international NFL game exclusively on its platform for the second time later in the year, and Amazon has exclusive rights again this season to Thursday night games. Amazon’s Thursday Night Football was the first NFL package to be shown exclusively on streaming.

    Football is the rare event that millions of people still watch live and advertisers will pay up for as viewership for TV other than sports rapidly declines.

    Excluding the Super Bowl, the NFL made up more than half of Fox’s viewership last season and around one-third of CBS and NBC’s, according to the MoffettNathanson report.

    “The NFL is the biggest driver of network ratings and advertising dollars during the fall TV season,” the analysts said. “The NFL remains an outlier when compared to all other forms of linear content.”

    So, NBC will show “Sunday Night Football” on primetime TV and Peacock. Fox will show National Football Conference games on its broadcast network. CBS will show American Football Conference games on its network and Paramount+. (CBS, which has the rights to the Super Bowl in February, will also show the game on Nickelodeon.) ESPN will air “Monday Night Football” games on ESPN and ESPN+. And Amazon holds the rights to Thursday night games, shown on Amazon Prime Video.

    The NFL itself is also betting on streaming.

    The NFL Sunday Ticket package, which broadcasts all out-of-market NFL games to fans, is moving to YouTube TV, owned by Google, this year after nearly 30 years at satellite provider DirecTV.

    “We have been focused on increased digital distribution of our games and this partnership is yet another example of us looking towards the future,” NFL commissioner Roger Goodell said last year.

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  • The Writers Strike Is Blowing Up the Upfronts

    The Writers Strike Is Blowing Up the Upfronts

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    If you had to pick one reliable highlight from the upfronts each spring, when America’s content conglomerates woo Madison Avenue with the best and brightest from their upcoming television slates, there’s a good chance it would be Jimmy Kimmel’s stand-up routine while emceeing the Disney presentation. In 2019, The New York Times declared, “J​immy Kimmel Saves Disney’s Supersize Upfront,” while last year’s Kimmel monologue made headlines for its R-rated roast of Netflix. “You know, every year I say, ‘Fuck Netflix.’ And this year it came true!” the ABC late-night star cracked, skewering the streamer for its mega-scrutinized subscriber stumble in 2022. “After those smug bastards choked the life out of us for years, it feels really good to see them stoop to selling advertising. Everybody loves Bridgerton. How much do you think they’ll love it when it’s interrupted by a tech commercial every four minutes, you zillion-dollar dicks?” 

    When Disney takes over Manhattan’s North Javits Center on Tuesday for its 2023 upfront, there will be no such side-splitting hijinks. That’s because, to state the obvious, Kimmel won’t be there, a source close to ABC confirmed. (Disney, which owns ABC, didn’t have a comment.) We also confirmed that Jimmy Fallon and Seth Meyers won’t be yucking it up at NBCUniversal’s shindig at Radio City Music Hall. Like other top television talent, the late night hosts will be sitting out this year’s festivities thanks to the two-week-old writers strike, which has already succeeded in throwing a wrench into the television industry’s annual advertising bonanza. (Stephen Colbert, whose show has gone dark just like the others, didn’t have to cancel because CBS parent company Paramount Global had already decided to forego its long-running upfront at Carnegie Hall. And by the way, the late-night hosts are all WGA members themselves.) 

    “Very few actors are gonna show up, very few writers are gonna show up,” a WGA member on the front lines said of the upfronts, which kick off Monday morning. “They’re gonna be dry, and there are gonna be pickets.”

    Once a highlight on the media calendar, the upfronts had already been feeling a little tired lately; after all, what exec wants to get up on stage in front of thousands of ad buyers to tout their exciting fall broadcast lineup when they know all the action is in streaming? Now, after a few years of pandemic-related disruptions, the writers strike has the potential to deal the final blow to this cultural institution. You won’t hear them say this publicly, but privately some of the most important people in the TV business are already whispering that the upfronts aren’t as important as they used to be—and a strike-induced downsizing may only supercharge that discussion.

    Los Angeles is obviously ground zero for strike activity. But there’s been lots of action on the East Coast too. We’re told that the first big New York–based demonstrations at the beginning of the strike brought out between 700 and 1,000 people. This past week, a few hundred strikers and supporters turned out for a rally at HBO, and smaller pickets shut down production of Billions and Daredevil. “We’re doing everything we can to disrupt production,” said the WGA source, adding, “The guild plans to make our presence felt at every upfront.” 

    They got a head start in the first couple days of the strike during the newfronts, the upfronts’ digital-centric little cousin. Bupkis star Edie Falco was supposed to appear onstage at NBCU’s Peacock newfront, but when she learned WGA was going to be picketing the event, she gave one of its members a greenlight to tweet the news that she would be canceling her appearance. “It’s the least I can do,” Falco told him.

    In addition to contending with swarms of placard-wielding screenwriters belting out chants like, “DISNEY, SHOWTIME, HBO, WITHOUT OUR SCRIPTS YOU GOT NO SHOW,” the suits have had to re-jigger their upfront strategies to varying degrees. Sources familiar with the presentations at Disney, NBCU, Warner Bros. Discovery, and Fox Corporation told us the plan was to lean into news, sports, and reality programming. “We’re all in the same boat,” said an executive at one of the companies. “There’s gonna be a focus on stuff that’s not scripted in terms of what you see on the stage. Everybody seems to be doing a version of that.”

    And then there’s Netflix, the “villain,” in the words of The New York Times, that has “emerged as an avatar for the writers’ complaints.” For its first ever upfront presentation on Wednesday afternoon, the streamer had planned to stage an event at the storied Paris Theater, Manhattan’s only surviving single-screen cinema, which Netflix has operated since 2019. But as of Thursday, the company opted to cancel its in-person showcase in favor of a virtual one. We learned that execs at the streamer were worried about WGA’s plans to picket its first ever upfront; a source familiar with the decision cited the NYPD’s fears over pedestrian safety. “They’re feeling the pressure here,” said Nick Mandernach, a WGA member who’s helping coordinate picketing outside the historic Sunset Bronson Studios in Hollywood where Netflix has set up shop. “Wherever they go, whatever they’re doing, we’ll be there.” 

    In any case, the in-person event would have been a rather understated affair by Netflix standards. The Paris Theater seats just 571 people; in contrast, the Theater at Madison Square Garden, where Warners is set to make its pitch to ad buyers, has room for several thousand. And it appears the virtual Netflix upfront will have even less wattage than what the company was originally planning: our source adds that Netflix has decided not to feature talent during the presentation. 

    Plans for all of the presentations were still in flux as we were wrapping up this story on Friday. But a source familiar with Disney’s upfront said the event will continue as planned, and that it will even have talent in attendance. A second source, however, told us that talent involved in scripted projects have been pulling out of their scheduled appearances. 

    One more thing: in a surprise plot twist befitting a Hollywood script, NBCU suddenly has a bigger headache on its hands than a bunch of angry picketers. On Thursday evening, just three days before the company’s presentation was set to kick off the entire upfronts shebang on Monday morning, news leaked out that NBCU’s head of advertising, Linda Yaccarino—an ad-world fixture known to dazzle the upfronts crowd with her lavish outfits—was in talks with Elon Musk to become Twitter’s CEO. (Sleuthy Twitter people immediately pounced on her apparently MAGA-adjacent bona fides.) On Friday, NBCU confirmed that Yaccarino, the very person who was supposed to lead NBCU’s Radio City showcase, would leave the company immediately, and Musk confirmed her hiring in a subsequent tweet. As Puck’s Matt Belloni put it in the latest edition of his newsletter, “A television company’s head of monetization bailing on the eve of the upfronts? Brutal.”

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    Joe Pompeo, Natalie Jarvey

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  • NBCUniversal CEO stepping down over ‘inappropriate relationship’ | CNN Business

    NBCUniversal CEO stepping down over ‘inappropriate relationship’ | CNN Business

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    New York
    CNN
     — 

    NBCUniversal CEO Jeff Shell is leaving the company after an outside investigation “into a complaint of inappropriate conduct,” its parent company Comcast announced Sunday.

    Shell will depart effective immediately in the wake of an investigation led by an outside counsel.

    “Today is my last day as CEO of NBCUniversal. I had an inappropriate relationship with a woman in the company, which I deeply regret,” Shell said in a statement. “I’m truly sorry I let my Comcast and NBCUniversal colleagues down, they are the most talented people in the business and the opportunity to work with them the last 19 years has been a privilege.”

    The brief statement did not specify who the woman was or include any other details about the investigation. CNN has reached out to Comcast and NBCUniversal.

    Shell had been named CEO in January 2020 after leading content creation, programming and distribution for NBCUniversal Film and Entertainment.

    Shell had expressed confidence in NBC’s streaming service, Peacock, which surpassed 20 million paid subscribers at the end of 2022 and “nearly tripled” its revenue to $2.1 billion, according to its fourth quarter earnings report, which ended at the end of 2022. Its adjusted earnings loss, however, was wider.

    “There’s no question the whole television landscape is changing,” Shell said in an interview on CNBC “Squawk on the Street” last October. “If you have the right content, and you offer a broad distribution platform, your consumers are going to find you and that’s what we’re doing with Peacock.”

    Comcast is set to report its first quarter earnings on Thursday.

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  • NBCUniversal Loses CEO Over “Inappropriate Relationship”

    NBCUniversal Loses CEO Over “Inappropriate Relationship”

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    Comcast sent shockwaves through Hollywood on Sunday when it released a terse statement announcing that NBCUniversal CEO Jeff Shell was departing the entertainment company immediately following an outside investigation into “inappropriate conduct.” In a statement of his own, Shell revealed, “I had an inappropriate relationship with a woman in the company, which I deeply regret.” 

    The cable giant’s statement did not indicate who would be replacing the 19-year company veteran, though CEO Brian Roberts sent a memo to staff announcing that Comcast president Mike Cavanagh would run the company in the interim. “We are disappointed to share this news with you,” Roberts said in the memo, which was shared with Vanity Fair. “We built this company on a culture of integrity. Nothing is more important than how we treat each other.” 

    Shell led NBCU—the company behind broadcaster NBC, cable networks like E! and Bravo, streamer Peacock, and the Universal Studios theme parks—for three years. He replaced longtime CEO Steve Burke in winter 2020 after a career that saw him leading the company’s film and TV businesses, international arm, and regional television networks. As chairman of the film group for six years, he oversaw franchises including Fast & the FuriousJurassic World, and Despicable Me, according to the bio that was still live on NBCU’s corporate website as of Sunday afternoon.

    Shell is the second top NBCUniversal executive in three years to be ousted from the company. Ron Meyer resigned as the company’s vice chairman in summer 2020 after it was discovered that he’d paid a settlement to actress Charlotte Kirk following an affair. In a statement at the time, he said that third parties had learned of the payment and “have continuously attempted to extort me into paying them money or else they intended to falsely implicate NBCUniversal, which had nothing to do with this matter, and to publish false allegations about me.”

    News of Shell’s departure came as a surprise to many NBCU employees. He apologized to them in his Sunday afternoon statement: “I’m truly sorry I let my Comcast and NBCUniversal colleagues down, they are the most talented people in the business and the opportunity to work with them the last 19 years has been a privilege.”

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    Natalie Jarvey

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  • CNBC’s Andrew Ross Sorkin says covering the SVB meltdown is like ‘walking a tight rope’ | CNN Business

    CNBC’s Andrew Ross Sorkin says covering the SVB meltdown is like ‘walking a tight rope’ | CNN Business

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    New York
    CNN
     — 

    Andrew Ross Sorkin woke up early Monday morning, long before the crack of dawn, after managing to sneak in a handful of hours of sleep.

    The New York Times columnist had been up late into the night working on his DealBook newsletter. And now he needed to rise for a special edition of “Squawk Box,” the CNBC program he has co-hosted since 2011.

    The special 5am edition of “Squawk” had been tasked with covering the continuing fallout stemming from the sudden collapse of Silicon Valley Bank, a massive financial news story that has drawn some eerie comparisons to the beginnings of the 2008 financial disaster.

    A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here.

    It is a story Sorkin described covering as “a balancing act, a little bit like walking a tight rope.” On one hand, he said, journalists must avoid sparking panic and causing a catastrophic run on the banks. But, on the other hand, journalists also owe it to their audiences to deliver them a clear-eyed assessment of the state of affairs.

    “Our job as journalists is to tell the public what is happening — and if you believe in transparency, we should all want that,” Sorkin said. “The downside of transparency in real-time is sometimes news that may not be positive can pile on itself in a way. And so I think it is really just about trying to contextualize what we’re seeing.”

    “You don’t want to cause a run on a bank,” Sorkin added, “but then at the same time, if everyone is running and they have reason to run, I think it’s important that the public understands what’s happening.”

    The approach to delivering the news and covering the implosion of SVB that Sorkin described stands in stark contrast to some of the commentary saturating the internet and at other media outlets.

    Over the weekend, some venture capital influencers amplified fear and suggested the entire US banking system was on the verge of collapse. The investor Jason Calacanis, who hosts a podcast and commands a Twitter audience of nearly 700,000 followers, tweeted, “YOU SHOULD BE ABSOLUTELY TERRIFIED RIGHT NOW.” On the right-wing talk channel Fox News Monday morning, “Fox & Friends” co-host Ainsley Earhardt suggested Americans needed “to go to our banks and take our money out.”

    Unprecedented in its sheer speed and volume, SVB’s collapse is “fascinating,” Sorkin said, causing a meltdown only now possible in the “true age of social media, as well as what might be described as digital banking.”

    “The ability for information to spread rapidly, both good information and bad, and for people to act on that information and then going to a bank app and transferring funds from one place to another, makes the responsibility [for journalists] even greater,” Sorkin said.

    Sorkin said banking is ultimately a “confidence game,” explaining that it is “genuinely about whether people have confidence in leaving their money in a particular institution.” And in this current environment where social media influencers and other irresponsible voices thrive, Sorkin said it “inherently makes things less stable.”

    “You have a lot of people who are on social media who don’t necessarily feel the same responsibilities to contextualize the news in the same way I might try,” Sorkin said. He suggested that in the case of SVB, there may have been “a little smoke in the corner of the theater” that could have been addressed before a fire burst out and prompted danger.

    “If you scream ‘fire,’ everyone runs out of the theater,” Sorkin said. “Could the smoke have been put out before everyone ran out of the theater? Maybe.”

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  • Cesar Conde consolidates power at NBC with network shakeup | CNN Business

    Cesar Conde consolidates power at NBC with network shakeup | CNN Business

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    New York
    CNN
     — 

    On paper, Cesar Conde is the chair of NBCUniversal News Group. But on Wednesday he also appointed himself as the effective president of NBC News.

    After Noah Oppenheim — who has led the network during a tumultuous period in the media industry and through Donald Trump’s chaotic presidency — told staff that he would vacate the role of NBC News president in favor of returning to screenwriting, Conde disclosed his succession plan.

    But the NBCU News Group boss notably declined to select a single successor to oversee the sizable portfolio of Oppenheim. Instead, Conde moved to split the role up amongst a team of three executives.

    A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here.

    Rebecca Blumenstein, a deputy managing editor of The New York Times, will assume a swath of Oppenheim’s duties, taking on a newly created role as president of editorial at the network. Blumenstein has a lengthy history working in print, but glaringly lacks experience in television news. She will oversee some of NBC News’ television portfolio, such as “Meet the Press,” but will not have purview over the two cornerstone programs, the “Today” show franchise and “NBC Nightly News.”

    Those duties will fall to the other two executives that Conde has elevated to run the NBC News portfolio: Libby Leist and Janelle Rodriguez, two longtime network executives who both received promotions to executive vice president. Leist will continue to oversee “Today” and Rodriguez will oversee “Nightly” and NBC News NOW.

    All three executives — Blumenstein, Leist, and Rodriguez — will report directly to Conde, making him the ultimate network boss.

    “The appointments of Rebecca, Libby and Janelle provide a powerful foundation for the News Group as it continues to grow its leadership position,” Conde said in a press release announcing the news, adding that “the extraordinary accomplishments of Rebecca, Libby and Janelle and their visions will keep us on the path of continued success.”

    Inside NBC News, the announcement puzzled some staffers, according to people familiar with the matter. “It is certainly leading to some head scratching around the newsroom,” as one person put it.

    Of course, there is another way to look at the decision to divide Oppenheim’s portfolio amongst three executives: linear television is dying and the days in which a heavyweight, singular television news executive reigned over a fiefdom are rapidly coming to a close.

    As one former television news executive put it Wednesday evening, the industry has a case of the “incredible shrinking news president.”

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  • A ‘Community’ movie is finally on its way | CNN

    A ‘Community’ movie is finally on its way | CNN

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    CNN
     — 

    Class is back in session once again.

    “Community,” the six-season hit NBC comedy series about a group of students at a community college, will return with a long-awaited movie, NBC’s streaming service Peacock announced Friday – fulfilling the show’s own “six seasons and a movie” prophecy.

    “‘Six seasons and a movie’ started out as a cheeky line from Community’s early seasons and quickly ignited a passionate fan movement for this iconic, hilarious and cool (cool, cool) NBC comedy,” said Susan Rovner, the chairman of entertainment content at NBCUniversal Television and Streaming. “We’re incredibly grateful that 15 years later, we are able to deliver fans this promised movie.”

    The movie will stream on Peacock, which will also acquire the full series non-excusively. Though a release date has not yet been announced, original stars Joel McHale, Danny Pudi, Alison Brie, Gillian Jacobs, Jim Rash and Ken Jeong will all return for the film, according to the official announcement. It is not yet clear whether Yvette Nicole Brown and Donald Glover will make appearances, though the two were tagged on Twitter by McHale as the news was announced. (McHale did not tag former cast member Chevy Chase whose exit from the series followed reported clashes with series creator Dan Harmon.)

    “Community” premiered in 2009 on NBC and quickly became a fan favorite. The show ran for 110 episodes, with its sixth season moving to Yahoo! Screen, where its finale aired in 2015.

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