Global Media Firms

Skydance media asks Paramount to stop negotiating with Edgar Bronfman

This comes after veteran media executive Edgar Bronfman Jr sweetened his bid to take over Paramount offering $6 billion

Media veteran Bronfman raises bid for Paramount takeover to $6 billion

Paramount said on Wednesday it had received an acquisition proposal from Bronfman on behalf of a consortium of investors

CNN cuts about 100 jobs, to launch digital subscriptions before year's end

CNN is eliminating approximately 100 jobs and plans to debut its first digital subscriptions before the end of the year as the news network leans into reshaping its business. In a memo sent to staff on Wednesday, CNN CEO Mark Thompson said noted that it's cutting just 100 jobs out of a total workforce of approximately 3,500. He said that open roles were closed wherever possible in order to minimise the total layoffs. Media organisations, including CNN have struggled to grow audiences and revenue, and have sought to diversify what they're offering to customers. Thompson said that CNN's digital strategy must be ambitious enough to deliver the audiences and the revenue we need to maintain our unique journalistic firepower and succeed as a business. The executive said CNN will create subscription-ready products that offer news, analysis and context in new formats. He emphasised that there will be an effort to keep users on CNN.com's website longer and finding ways to get them to return

NY to set aside money to help local news outlets hire, retain employees

New York is offering up to $90 million in tax credits for news outlets to hire and retain journalists in an effort to help keep the shrinking local news industry afloat. The U.S. newspaper industry has been in a long decline, driven by factors including a loss in advertising revenue as outlets have moved from primarily print to mostly digital. That prompted state lawmakers to help in a measure passed in the state budget. New York's three-year program allows some news organizations to tap into refundable tax credits each year, with a single outlet able to receive tax credits of up to $320,000 annually. State Sen. Brad Hoylman-Sigal, a Democrat who sponsored the legislation, said preserving journalism jobs is vital for the health of democracy. As evidence, he cited the weakened New York news media's failure to research the background of George Santos, a Republican who fabricated many details of his life story, until after he had been elected to Congress. Some of my colleagues have ..

Australia expels 2 Indian spies for espionage attempt in 2020: Reports

Australia expelled two Indian spies in 2020 for allegedly trying to "steal secrets" about sensitive defence projects and airport security, the Australian media reported on Tuesday. While The Australian and The Sydney Morning Herald said two Indian spies were booted out, the Australian Broadcasting Corporation (ABC) did not mention any number. There was no immediate comment from Indian officials on the Australian media reports. "Indian spies were kicked out of Australia after being caught trying to steal secrets about sensitive defence projects and airport security, as well as classified information on Australia's trade relationships," the ABC report said. The so-called foreign "nest of spies" disrupted by the Australian Security Intelligence Organisation (ASIO) in 2020 was also accused of closely monitoring Indians living in Australia and developing close relationships with current and former politicians, it said. The reports came a day after The Washington Post named an Indian RA

Human labour triumphed over machinery: Global media on U'khand rescue op

As rescuers in India on Tuesday successfully pulled out all 41 construction workers trapped in a collapsed mountain tunnel in Uttarakhand after 17 days, the global media hailed the rescue operation and provided live coverage of the dramatic development. "Outside the tunnel, there have been celebrations at the news of the first man coming out of the tunnel," the BBC reported while providing regular updates on the rescue operation. It uploaded on its website a photograph that showed Uttarakhand Chief Minister Pushkar Dhami and Union Minister VK Singh meeting the first worker rescued from the tunnel. "Video footage from the scene showed Pushkar Singh Dhami, chief minister of Uttarakhand state meeting the workers, who appeared to be in good health, as they were removed from the tunnel amid jubilant scenes," CNN reported. The first workers were removed following a series of agonizing setbacks, during which rescue efforts were halted when the heavy machinery used to drill through the deb

Who is Miss Nicaragua? Let's look at her journey of Miss Universe 2023

The first to wear the crown from her country, Miss Nicaragua Sheynnis Palacios won the Miss Universe competition late Saturday night in El Salvador

Embracing a digital mindset

There are three key reasons why incumbents find it immensely challenging to sustain digital transformation agendas

Global media outlet NPR plans to lay off 100 employees as revenue declines

Global media outlet NPR plans to lay off about 10 per cent of its current workforce, about 100 employees, as its financial outlook has "darkened considerably over recent weeks."

GroupM Media's CEO Prashanth Kumar elected president of AAAI

Prasanth Kumar, the chief executive officer (CEO) for South Asia of GroupM Media has worked at Pepsi, The Hindu, and The Media Edge & McCann Erickson in a career spanning more than 25 years

Cricket rights: Indian broadcasters concerned about ICC's auction process

This comes as the governing body of world cricket is auctioning Indian media rights separately from global media rights as India is the largest market for cricket

Minnow on world stage, but Indian media business is growing big: Report

US, China remain biggest pie-holders globally, says PwC report

Facebook wraps up deals with Aussie media firms, drops TV broadcaster SBS

The U.S. social media giant has inked deals with a range of Australian big media companies including News Corp (NWSA.O) to the Australian Broadcasting Corp

Google slams Australian antitrust law, says it will hit individual creators

Google's YouTube video service allows individuals and companies to create channels featuring advertisements that create revenue for both them and YouTube

Can big media make it online?

Disney, Fox, Turner - almost everyone is launching their own streaming service. What does this mean for Netflix, Hulu or Amazon and for consumers?