Hi and welcome to Insider Advertising for April 29. I’m senior advertising reporter Lauren Johnson, and here’s what’s going on:
- Verizon reportedly wants to sell off media assets.
- Hewlett-Packard Enterprise in-houses its advertising.
- Lionsgate tried to buy Showtime.
If this email was forwarded to you, sign up here for your daily insider’s guide to advertising and media.
- Verizon Communications is considering selling it’s media assets, according to The Wall Street Journal.
- The sale, if it happens, would include Yahoo and AOL.
- Private-equity firm Apollo Global Management Inc. is said to be involved, the sources told the Journal.
Hewlett-Packard Enterprise is the latest big advertiser to move business in-house in a loss for ad giant Publicis
- Hewlett-Packard Enterprise has created an in-house agency to oversee a big portion of its ad business, Lindsay Rittenhouse and Patrick Coffee reported.
- The decision marks a loss for ad giant Publicis, which has worked with HPE for several years.
- Sources said the move is an attempt by HPE to cut costs by taking programmatic media in-house.
- Lionsgate made overtures to buy Showtime from ViacomCBS but was rejected, multiple sources tell Claire Atkinson.
- The idea was to combine Showtime with Lionsgate’s own premium pay-TV company, Starz.
- One of the sources, based on their knowledge of the businesses, said the proposed entity would have had a value of between $10 billion to $12 billion.
More stories we’re reading:
- Facebook tops expectations with soaring quarterly ad revenue (The AP)
- Joe Rogan said on his podcast that healthy young people should avoid COVID-19 vaccines. Spotify reportedly has no plans to remove the episode. (Insider)
- Pixar staffers frustrated by decision to send movies straight to Disney Plus: ‘It’s hard to grasp’ (Insider)
- Apple’s privacy changes are poised to boost its ad products (Wall Street Journal)
- Blackstone hires Droga5 chief strategy officer Jonny Bauer to lead a new brand initiative (Forbes)
- WarnerMedia plans to charge $9.99 per month for ad-supported HBO Max (CNBC)