Alex Sherman
@sherman4949
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CNBC media reporter. Tips to alex.sherman @nbcuni .com. 49ers fan. Originally from Lexington, MA. DMs open.
Princeton North, NJ
Joined June 2010
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Pinned Tweet
Reddit AMA is live!
I'm here to serve. AMA!
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Facebook has lost more value today ($240b-ish) than almost all global companies have ever been worth, at any time, in their histories.
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Can confirm Paramount Global is suspending too. It’s a deluge.
Apple, Disney, Warner, Paramount Global and Lionsgate pause advertising on X
Story here:
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CNN CEO Chris Licht said he wouldn't allow anyone on his network that said it's raining when it's not.
But he's let someone on now who says it's raining when it's not, and he added hundreds of people to applaud when he does it.
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Pence: I'll defend anything Trump said
Kaine: OK, go for it
Pence: He didn't say any of the stuff he said. See? Done.
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Sorry, "Meta." I'm still writing Facebook on all my checks.
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Hi all -- been working on this one for months. It's taken on a larger significance given the last few weeks.
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If my surprise Christmas to my wife involved me spending $2000 on something without telling her first, her reaction would be slightly different from the Peloton lady.
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Big scoop: Endeavor is finalizing a deal to buy WWE. To be announced tomorrow.
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I hope you’ll budget some time for 12,090 words today.
I’ve been working on this for many months. A fascinating story of succession gone wrong.
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@jesseagler
He spoke to me for an hour too, as a 15-year-old on a New England cable kids sports show. Same deal — asked him every question I could think of (and many my longtime Celtics fan dad told me to ask).
The best part was his laugh. Shocking in its force. Totally infectious.
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New from CNBC: Vince McMahon will speak tonight on Smackdown IN CHARACTER as Mr. McMahon to address his temporary absence.
Could be a big ratings night for WWE. McMahon has torn up the script for Smackdown, which was written last night, I’m told.
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OK Internet, I came through for you.
I reached John Tesh. If NBC gets back the NBA, all NBC needs to do is give him and his lawyer a call and hammer out a deal …. and “Roundball Rock” can return.
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In the last few years, Sumner Redstone had trouble speaking and communicated with an iPad that said “yes”, “no” and “fuck you.” This isn’t made up. I’ve independently corroborated it and
@keachhagey
reported it here and in her book:
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In a story that seems to be escalating rather than fading, David Zaslav reiterated the need to hear “both sides” today at an investor conference - a day after CNN journalist Christiane Amanpour slammed the false equivalence of “both sides.”
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After watching this for an hour, it’s at least in the realm of possibility that Mike Bloomberg’s decision to debate saved Elizabeth Warren’s candidacy.
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The new Warner Bros. Discovery CFO basically saying WarnerMedia's leadership was just blowing money on projects that made no sense.
A brutal quote from new Warner Bros. Discovery CFO Gunnar Wiedenfels.
“Right or wrong, management has made a decision to invest a lot of the incoming funds into a number of investment initiatives. As I’m looking under the hood here, CNN+ is just one example...
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For many years, Netflix waved off password sharing. So today’s estimate that 100 million global households are using a shared password is stunning in that context. You’ve been waving off 100 million households? That’s quite the wave off!
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Not only was this not a hostile takeover, the buyer literally tried everything he could NOT to buy Twitter for months.
We just witnessed a hostile takeover of Twitter by the richest man in the world who regularly tries to silence critics. This is absolutely what oligarchy looks like.
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Haven’t seen this said anywhere, but
@MichaelWolffNYC
’s narrative stands out from others in part because he was friendly enough with Roger Ailes, Steve Bannon to have them for dinner. There is no possible way to spin this as a liberal hit piece. Even Trump’s camp isn’t doing it.
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Bob Iger has stepped down as Disney's CEO, except for the fact that the new CEO reports directly to Bob Iger and Iger continues to "direct the Company’s content creation." It seems like he's still the CEO but without the title, no?
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Our long national nightmare is over:
The NFL has finally reached a deal for Sunday Ticket.
The big takeaway for consumers: The package will be available as a stand-alone product and as an add-on to YouTube TV.
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So the ownership of TikTok Global will be, according to a person familiar with the matter:
Oracle - 12.5%
Walmart - 7.5%
ByteDance - 80% ...
But 40% of ByteDance’s ownership is US venture capital funding. That’s how the Trump admin is calculating this deal as “majority US $”
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@Blanco66644360
If that dog was last pick in the shelter, this shelter must have held the greatest dogs of all time.
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So you're saying he did...Nazi it coming
John Kelly was expecting a hard job/wasn’t blind to it. Still, Nazi stuff “threw him for a loop,” per WH officials
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This is just incredible for Disney. Every major decision Bob Chapek has made is immediately in question.
Will the reorganization of the company last? Iger was against it. Will Kareem Daniel keep his job? Will Iger change the pricing strategy around Disney+?
Stunning.
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A new detail from the Netflix/Raw deal:
For Netflix subs that don't get ads (the vast majority of y'all)...
Raw matches will be scripted around commercial breaks. So you'll get some non-important match action (sustained headlocks!) instead of commercials. You won't get ads.
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Disney CEO Bob Iger says Ike Perlmutter was intent on firing Kevin Feige in 2015, and Iger stepped in to stop it. And that made Perlmutter unhappy — an unhappiness that exists today.
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WBD CEO David Zaslav notes HBO went from spending $2.5b on content and making $2.5b to spending $7b on content and losing $3b.
"I've never seen anything like that. All those direct to streaming movies, just thrown right on top..."
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Scoop details: UFC and WWE are expected to form a new publicly traded company as part of the agreement.
This allows WWE to follow the Endeavor/UFC playbook, which has been very lucrative/effective.
Big scoop: Endeavor is finalizing a deal to buy WWE. To be announced tomorrow.
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I've been working on this for a little while, hope you read all three pieces: First, a deep dive on Roku, who stole a strand of its corporate DNA from Netflix -- and why Reed Hastings thought Roku would probably fail (like almost everyone else).
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Zaslav noted that CNN’s trust score had improved 11 percentage points this year in a YouGov poll — which is true.
But what he left out is that jump was lower than the jump for Fox News, MSNBC, CBS, NBC and ABC.
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Scoop, and a fun one:
WWE is in talks with Colorado and Michigan gambling regulators to legalize betting on matches. Yes, they're scripted. WWE has a pitch.
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NFL Power Rankings:
1. San Francisco 49ers
2-32. Whatever
Don’t @ me
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Joint statement from Walmart and Oracle: “All the TikTok technology will be in possession of TikTok Global, and comply with U.S. laws and privacy regulations.”
TikTok Global is still 80% owned by ByteDance.
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BuzzFeed CEO Jonah Peretti's decision to offer voluntary buyouts to fewer than 30 newsroom staffers is actually a compromise/olive branch to some significant shareholders who want the entire BuzzFeed newsroom abolished. Scoop here:
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When Facebook announces its new name, my favorite part will be when everyone tweets that new name at the same time, and my second favorite part will be the very funny jokes about that new name that come shortly after. This is going to be great.
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Who wants Roundball Rock again!?
NBC wants the NBA back. Amazon and Apple want rights packages too. The NBA is expected to go from 2 rights deals to 3 or 4 this time around.
Here’s my story on the state of play for NBA rights renewals:
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When Seinfeld reboots and its pilot draws triple Roseanne’s ratings, it will be because the nation was desperate for soup.
"The Trump of it all is exaggerated," an ABC source says. The red state appeal of "Roseanne" is just one of many reasons why it's a hit
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Amended:
Monday morning media news:
NBCU: Jeff Shell surprise exit
Disney: Thousands of layoffs happening today
Fox: Tucker Carlson surprise exit
WBD: Don Lemon surprise exit
Your move Shari Redstone.
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SoftBank pumped more than $10b in WeWork because it believed in Adam Neumann. Now it’s paying him $1 billion for his equity and a $185 million consulting fee to go away. Art of the deal.
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I've seen enough.
The Streaming Wars are over. End of an era. 2019-2023. RIP.
Soon it's going to be time for a new growth chapter for media and entertainment companies.
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I’m also told that elevating Stephanie to CEO, after she just left to focus on family, is an optics play to signal Vince McMahon has no intention of stepping down.
New from CNBC: Vince McMahon will speak tonight on Smackdown IN CHARACTER as Mr. McMahon to address his temporary absence.
Could be a big ratings night for WWE. McMahon has torn up the script for Smackdown, which was written last night, I’m told.
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I see we create news just for
@minakimes
's enjoyment now.
The Seattle
#Seahawks
have reportedly had “internal discussions” in preparation for a potential trade for
#49ers
Jimmy Garoppolo, per
@JFowlerESPN
👀
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@MikeIsaac
HBO Max’s slogan was “Where HBO meets so much more.”
That’s basically “Where HBO meets garbage.”
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Can someone explain to me why the cosmopolitan girl in the iPad commercial has no idea what a computer is?
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Scoop: NFL asking for 100% increase on TV rights from all of its network partners; Disney is saying no way.
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A brutal quote from new Warner Bros. Discovery CFO Gunnar Wiedenfels.
“Right or wrong, management has made a decision to invest a lot of the incoming funds into a number of investment initiatives. As I’m looking under the hood here, CNN+ is just one example...
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Iger says creators at Disney have lost sight of what their jobs should be -- 1) entertain first. It's not about messages.
He says it got worse when he left as CEO/Chairman.
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Let this be a lesson to all the teenagers out there thinking about messing with political rallies in the future. If you want to go that route, beware: your favorite technology company may get a new cloud computing deal and find itself with a couple of new minority owners.
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The end of BuzzFeed News and the blue check. These things happen in threes, people!
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My hot take from Netflix’s earnings call:
A reporter should be paired with an analyst to moderate the call. Not a single question about the big macro issues. Analysts had projected +20m subs this year a few months ago. Now Netflix forecasts no growth at all thru 9 months.
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This is one of the most incredible things I’ve ever seen
Yesterday in Malaysia.
This. Rally. 3-minutes. 211 shots.
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@mneelzy
@emilynussbaum
These are outstanding - as good as the performances are, honestly it’s the video editing I’m most impressed with.
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It's not new that M&A often destroys value.
But to spend $44 billion on of the one world's most famous companies, and to 3 weeks later send out a company wide email that says, in effect, "Emergency: Do you write code?"
Well, that is ... something.
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Without legacy media, people just post unclear charts without data sources to make sweeping arguments with no risk of accountability or repercussions.
Legacy media simply can’t compete with hundreds of millions of humans providing real-time, AI-assisted, interactive information
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When WWE CEO Nick Khan said there was robust interest this week …. He was slow playing it.
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I spoke with more than a dozen current and recently departed WarnerMedia execs about what’s been going on there over the past couple years. Here are their thoughts — and some new details about HBO Max, brand confusion, culture clash and strategic haggling
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There it is:
"We write to notify you that the Musk Parties intend to proceed to closing of the transaction contemplated by the April 25, 2022 Merger Agreement."
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Barring a shift in strategy, it seems like a fait accompli the new HBO Max/Discovery streaming service won’t renew Sesame Street after the current 5 year deal runs out.
It’s the question that’s dominated the media world in the past 48 hours:
Why is HBO Max pulling off content? Why not just let it sit there?
It comes down to 3 things: how media cos pay for programming, a strategic shift away from kids, and decluttering
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This is the most important tweet of the Twitter saga. Bret Taylor is Twitter’s chairman.
Elon Musk saying he’s not buying Twitter doesn’t end this.
The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.
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Netflix crosses the rubicon!
It has reached a 10 year deal to stream WWE's Raw for more than $5 billion.
Netflix takes the jump into sports/live entertainment.
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Negotiations broke down between WBD and Dan Lin in recent days. A complicating factor was how to value Rideback, Dan Lin's production company.
WBD continues to talk to others about the DC job.
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@MikeIsaac
The funny thing was, this is exactly what HBO Max ALREADY tried to say with “Max” … but it wasn’t clear because HBO was still in the name. So they’re making it more clear now by totally removing it.
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Bob Iger making some news on
@cnbc
right now — saying he is open to selling to Hulu. “Everything is on the table.”
Under Bob Chapek, Comcast was under the impression Disney would consolidate Hulu. Now with Iger’s return, he is suggesting he’s open to selling Disney’s 66%.
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ESPN scoop -- ESPN has held conversations with leagues and media partners about building a feature that would link ESPN digital users directly to live sports games ... including those that air on other companies' streaming services.
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WBD streaming services lost 300k subs domestically.
Peacock said subs were flat.
Disney hasn't reported yet.
The "Netflix" problem may be a "streaming" problem.
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@karaswisher
@RebeccaJarvis
@elonmusk
Agree with Kara here -- the board taking $54.20 without even fighting it seems to suggest the board had little faith in the business moving forward.
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@ReformedBroker
I speak as a fan, but Niners have a super likable team full of big personalities (Kittle, Staley, Sherman) that play with joy, a backup QB & owner who have lost brothers in the past year, a 25 year drought, and an owner redemption story after Harbaugh — lots of reasons to cheer
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Late night scoop: Amazon has shown interest in acquiring Slack. Price tag around $9b. No assurances a deal happens.
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Warner Bros. Discovery has halted Paramount Global merger talks, sources tell me. Pencils down.
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Disney pauses ad spending on X.
To quote generic baseball announcers, the heavens have opened.
News: Disney has paused ad spending on X, joining Apple and others ... Advertisers Flee X as Outcry Grows Over Musk’s Endorsement of Antisemitic Post
@https
://www.nytimes.com/2023/11/17/technology/elon-musk-twitter-x-advertisers.html?smid=tw-share
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Everyone loves to hate on the SoftBank Vision Fund. But it's only fair to give the fund credit when credit is due. DoorDash is a huge win for them -- turning $680m to $11.5b based on today's opening price.
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Some news — CNN CEO Chris Licht has acknowledged internally he wishes CNN had done some things differently with the production of the Trump town hall. Mainly, he wants CNN’s focus to be on substance over spectacle. But he’s still glad the network did it.
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Disney will be removing content from its streaming services and will take a $1.5b-$1.8b impairment charge. Disney will produce "lower volumes of content," CFO says. It's the David Zaslav playbook!
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Good morning sports fans — been working on this one for a little while. Disney’s plan for ESPN in a streaming-first wold, and what it may mean for the future value of sports rights.
Hope you enjoy.
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CBS's prayer of a Duke/Kentucky final so we can watch
@laettnerbball
's highlight on loop stays alive.
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I love Jimmy G as a leader of the Niners and as a big-moment QB. He'll get significant trade comp, and he should.
But agreeing with
@minakimes
that the Niners don't need him to win isn't just fairly innocuous, it's also obviously what Kyle Shanahan and John Lynch think too!
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In 2013: Iger extended his contract
In 2014: Iger extended his contract
In 2017: Iger extended his contract
In 2017 again: Iger extended his contract
In 2021: Iger steps down as chairman
In 2022: Iger returns as CEO
In 2023: Iger extends his contract
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Disney CEO Bob Iger drops a "oh, and one more thing" homage to Steve Jobs on his earnings call...
The thing? Taylor Swift's Eras Tour is coming to Disney+.
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HBO is giving away a bunch of signature shows for free starting tomorrow — it will last for a month. No log-in is required — just download HBO Go or HBO Now. HBO Max launches in May.
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CNN’s
@oliverdarcy
is alive and kicking with his Reliable Sources newsletter, and he’s brought delicious subtext!
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