Hi and welcome to Insider Advertising for May 17. I’m senior advertising reporter Lauren Johnson, and here’s what’s going on:
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- AT&T is discussing a deal to split off assets like CNN and HBO and combine them with Discovery, a source told Claire Atkinson.
- The potential deal, first reported by Bloomberg, would create a new streaming giant better positioned to take on Netflix and Disney.
- The prospective tie-up also raises questions about who would run the combined entity.
- Agency searches are ramping up, putting billions of dollars at stake, and highlighting the search consultant’s role, Lindsay Rittenhouse reported.
- Some consultants perform services for agencies as well as marketers, leading to some criticism.
- Their role has come under more scrutiny in the pandemic as some hustle for more business from agencies.
- Nike will soon require workers in its Beaverton, Oregon, campus to work three days a week in person.
- Shoshy Ciment spoke with five employees at Nike about their feelings on returning to the office.
- Most expressed the desire to maintain a hybrid model that allows for in-person and at-home work.
Other stories we’re reading:
- The secret life of Ian Osborne, the shadowy 38-year-old cofounder of Chamath Palihapitiya’s SPAC who has built the ultimate black book of billionaires (Insider)
- SPACs are racing against the clock to strike a deal, and some will likely have to settle for a less-than-ideal business to buy (Insider)
- The Associated Press president says agency ‘narrowly avoided a terrible loss of life’ in Israeli bombing of Gaza media building (Insider)
- Amazon’s ‘Invincible’ showrunner on the superhero TV landscape and his ideas for potential spinoffs (Insider)
- Leslie Moonves receives nothing from CBS exit package (New York Times)