Your daily digest of the entertainment business news you need to read. Welcome! I'm fearful for the state of journalism. The settlement between Paramount and President Donald Trump has all kinds of implications for CBS and merger partner Skydance (which my colleagues get into ... see below), but just as important is the broader implications of how people get their information. The settlement comes at a time when trust in journalism is at an all-time low, and it allows Trump to crow about what he sees as biased coverage, reinforcing the belief that what you read and see on the news is compromised. Good journalism is about calling out institutions and individuals who are overstepping their boundaries and shedding light on things that are broken, a key pillar of society. It's what I've believed in since my days working as a business reporter, tech journalist and now media and entertainment editor at TheWrap. But calling out what needs fixing doesn't work if readers can no longer trust what they see on TV or read online. All of a sudden, there's no longer a baseline on what is objectively true, a topsy-turvy phenomenon that's been at play over the last few years, and has accelerated over the last several months. As Sen. Bernie Sanders said: "It is a dark day for independent journalism and freedom of the press — an essential part of our democracy." Roger Cheng 
Shari Redstone weighing whether to fight President Donald Trump's "60 Minutes" lawsuit (which experts said lacked merit) or settle and push forward Paramount's $8 billion merger with Skydance was billed as an impossible mission. It turns out, it wasn't such a difficult decision: It's easier to just pay. Getting the deal done means Redstone can wash her hands of the Trump drama. But things are just going to get messier with incoming parent Skydance, run by David Ellison with support from father and billionaire Oracle co-founder Larry Ellison. Beyond outrage from its journalism arm, you can be sure its entertainment talent, from Jon Stewart to Stephen Colbert, will come in hot with their own scathing takes. Catch Up In Other News...Crypto ventures have added at least $620 million to Trump's fortunes over just the last few months (Bloomberg) Perplexity joins OpenAI and Anthropic in offering an uber-expensive subscription service for $200 a month for unlimited usage (Engadget) Anime streaming service Crunchyroll aired a series with awkward and typo-filled subtitles that appear to be AI generated (The Verge) Want more? Explore WrapPRO now. This report provides a high-level analysis of daily developments within the entertainment sector. It compiles crucial data points and insights from industry leaders, highlighting key trends and shifts in business strategies. |
