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In this edition: a (likely) promotion for Kaitlan Collins.͏‌  ͏‌  ͏‌  ͏‌  ͏‌  ͏‌ 
 
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November 24, 2024
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Media

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Liz Hoffman
Liz Hoffman

Welcome to Semafor Media, where we are looking to a newsy 2025.

I’m Semafor’s business editor and lead our twice-weekly Semafor Business newsletter. (Sign up here.).

Ben asked me to take over this space this week to share a glimpse of how Wall Street is looking at a media industry headed for a turbulent 2025.

Here’s one key thing to understand: Big media companies are the only true conglomerates left, after the dismantling of industrial giants like GE. They are, to varying degrees, in the business of managing Hollywood talent, building roller coasters, gathering news, designing apps, and laying cables. That’s a strange collection of assets with very different financial needs and futures.

And that kind of conglomerate is wildly out of fashion among investors — a relic of the 1980s. Comcast’s spinoff of its cable channels acknowledges that. The company is keeping its fast-growing theme parks, broadband internet, and its streamer, Peacock, and handing the melting ice cube of linear television to its shareholders. Its parting gift is a clean balance sheet, which will give SpinCo the financial strength to consolidate amid an industry in decline. Warner Bros. Discovery is a juicy target. AMC Networks is trading cheap. Paramount’s new owners could decide Nickelodeon and MTV aren’t central to its streaming plans. Byron Allen could go all in on affiliate stations and sell The Weather Channel and Pets.TV.

Disney is holding on to ABC and ESPN not because Bob Iger thinks linear networks have a bright future, but because they’re feeding the thing he really cares about: streaming. Live sports and The Bachelorette have proven to be better draws to Disney+ than CNBC and E! News are to Peacock, so they get to stay. As soon as they stop earning their keep — say, when ESPN’s standalone streaming service launches next fall, giving customers an a la carte option — expect Disney to take another look at the Comcast play.

One way to think about it: Investors are cord-cutters, too. They’re tired of corporate stock bundles that force them to own declining businesses they don’t want.

Also today: Kaitlan Collins might be getting a promotion, flacks are racing to book their clients on podcasts, and some staff shuffles at Business Insider and The Hollywood Reporter. (Scoop count: 7)

1

PR agents scramble to work with ‘newsfluencers’

 
Ben Smith
Ben Smith
 
A podcast setup
(Unsplash/Jonathan Farber)

Corporate executives and other public figures emerged from this month’s election with a new task for their handlers: urgently figure out how to make them more like the loose, podcast-friendly Donald Trump, and less like the scripted and corporate Kamala Harris.

Executives used to seeking out slots on CNBC branched out to Fox News and Fox Business after 2016, in hopes of reaching the new president to make the case for favorable policies — leaving the influencer economy to marketing departments selling goods to consumers.

Now, the influence-makers are scrambling after their marketing colleagues into the space, seeking to figure out which business-friendly podcasts, eclectic YouTubers, or right-leaning online comic chat show hosts could provide a venue for getting their message out.

“There are a lot of companies coming to us and saying, ‘OK, in addition to your classic WSJ, Bloomberg, what are the other ways we can reach the audience we want to reach and influence?’” said Nikhil Deogun, CEO of the Americas for Brunswick Group, a critical issues advisory firm. “The election drove that home for a lot of people.”

Read on for how PR leaders like Richard Edelman are responding. →

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Semafor Exclusive
2

Collins’ star rises

 
Max Tani
Max Tani
 
Kaitlan Collins in 2022
Kaitlan Collins in 2022. (Reuters/Al Drago)

CNN’s leadership says it doesn’t want to go back to its wall-to-wall 24-hour coverage of Donald Trump when he returns to the White House in January. But the network is considering shifting its lineup in a way that would lean into the spectacle of the president-elect’s new administration.

CNN is considering making network anchor Kaitlan Collins its chief White House correspondent, two people familiar with the discussions said. As part of the change, Collins and her show would relocate, at least part of the time, to Washington, D.C. from New York.

The move, which has not been finalized and is currently still being discussed by the network’s leadership, is intended to better tap into Collins’ network of sourcing within Trump’s White House, which she covered both at CNN and as a White House reporter for the conservative news site the Daily Caller during the president’s first administration.

Read on for what this might mean for CNN’s programming plans. →

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3

Thompson’s passion project

Mark Thompson in 2023
Mark Thompson in 2023. (WIktor Szymanowicz/NurPhoto via Reuters)

CNN chief Mark Thompson has a lot on his plate these days, overseeing editorial for the 24-hour news network and trying to figure out how CNN can survive the cord-cutting apocalypse that is threatening to end cable television over the next several years. But that hasn’t kept him from exploring his creative side. A literary agent representing Thompson has been shopping around some literary short fiction the CNN boss has been writing in his spare time, pitching publications including The Atlantic.

He wouldn’t be the first network boss in recent memory to moonlight as a fiction writer: Former NBC News chief Noah Oppenheim wrote the movie Jackie while running the Today show and left the news business to pursue a TV writing career.

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Plug

What do David Zaslav, Maureen Dowd, and Bowen Yang have in common? They subscribe to The Ankler – hailed by The New York Times as “Hollywood’s hit newsletter.” Janice Min, Richard Rushfield, and company deliver smart, razor-sharp reporting, offering an insider’s view into what’s happening behind closed sets. Check it out here.

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One Good Text

Jodie Ginsberg is the chief executive officer of the Committee to Protect Journalists, which held its annual International Press Freedom Awards gala last week.

Ben: The CPJ gala Thursday honored journalists risking their lives in Niger, Russia, Gaza, and Guatemala last night and I left thinking — whatever John Oliver may have said — that American journalists should probably complain less. Is that the wrong lesson?? Jodie: I think that is the wrong lesson. What I hope people took away is how fragile democracy is and how easily freedoms and rights that we take for granted in the US can be eroded. The kinds of reporting that were possible in Hong Kong a decade ago will now land you in jail. Harassment and physical attacks against journalists are on the rise - including here in the United States. The use of national security laws or tax legislation to go after journalists has created an environment of acute self censorship in countries like India. And there’s no reason at all this won’t happen here, especially given the popular mandate Trump now has. We will need to be vigilant to make sure we don’t see the kinds of extreme threats against journalists in the US that you heard about on the stage last night happening elsewhere. Complacency in this moment is not an option.
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Intel
A graphic that reads: “Intel”

✦ Marketing

A still from the Volvo ad showing a car stopped in front of a woman
(Volvo)

Tale of two car ads: Jaguar got a lot of attention last week for a head-scratching rebrand that read as a caricature of gender politics. Sir Martin Sorrell texted Semafor to say it was “brave,” declining to say whether that was a compliment. But good marketing is, among other things, surprising, and the surprise hit was a long, cinematic, emotional — but also vertical — Volvo spot.

Twitch ‘adpocalypse’: The streaming platform Twitch is fighting its own wars over politics and other dicey content, as streamers complain their ad money is drying up.

⁛ News

Lopez out: The veteran Business Insider finance editor Linette Lopez has left the news site, where she’d been a defining voice for more than a decade, after managers were alerted to comments critical of Donald Trump on her Instagram earlier this month, Semafor has learned. The tech and business columnist’s posts violated the company’s social media rules dictating the types of political speech its employees are permitted to make.

Lopez was one of the publication’s longest-tenured editorial employees, having joined BI in its early blogging days in 2011. Business Insider and Lopez did not respond to a request for comment.

Buying the Telegraph: The FT has the scoop on a big new investor in Dovid Efune’s Telegraph deal: Sir Mohamed Mansour, a British Conservative Party figure whose Mansour Group includes a massive Caterpillar dealership, Mantrac, based in Dubai. We’re told the Koch-backed philanthropy group Stand Together (also an investor in Semafor), meanwhile, has passed on the deal.

⁜ Tech

Carr’s commands: Trump’s pick to lead the Federal Communications Commission, top GOP commissioner Brendan Carr, is preparing to test the limits of the agency’s power to reshape the media landscape in the US.

Following Trump’s election, Carr sent letters to Apple, Google, Meta and Microsoft saying they would be receiving scrutiny as part of the FCC’s “broad ranging actions to restore the First Amendment rights that the Constitution grants to all Americans.” He also told the Washington Post that the broadcast licenses issued by the FCC to TV and radio networks are not “sacred cows.”

☊ Audio

Ranked: Apple released its most popular podcasts list this week, showing the continued dominance of daily news summary programs (led by The New York Times’ The Daily), men-fronted chat shows (led by Joe Rogan, the SmartLess crew, and the Kelce brothers), and true crime.

✰ Hollywood

New faces: The Hollywood Reporter is getting a new editor. On Tuesday, Semafor broke the news that the entertainment trade publication was bringing in Shirley Halperin to replace co-EIC Nekesa Mumbi Moody.

The move is a partial homecoming for the former Variety executive editor, who worked at the magazine almost 15 years ago, as well as its sister music publication, Billboard. But it is also the continuation of an unusual leadership arrangement that started last year, when owner Jay Penske brought former Los Angeles Magazine editor Maer Roshan in to serve as editor-in-chief alongside Moody.

Halperin’s move also raised some eyebrows internally. Halperin is largely seen as a music journalist, and some insiders privately questioned whether an editor with that background should serve as the editor of a primarily film and television-focused publication.

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Semafor Spotlight
A graphic that reads: “A great read from Semafor Principals”Mike Johnson taking a selfie with a woman
Jonathan Ernst/Reuters

An incoming president’s first 100 days are typically a time for fast movement on big bills, but Donald Trump might be in for a rougher experience next year, Semafor’s Kadia Goba reported.

That’s in part because of Republicans’ slim hold on the House, but the GOP may also face the troublesome task of funding the government for the rest of the fiscal year and raising the debt limit.

For more on the Trump transition, subscribe to Semafor’s daily Principals newsletter. →

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