Hi and welcome to Insider Advertising for May 18. I'm senior advertising reporter Lauren Johnson, and here's what's going on:
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Inside WarnerMedia's spinoff from AT&T
On Monday, AT&T confirmed that it plans to spin off WarnerMedia and combine it with Discovery Communications, reversing the telecom's $85 billion bet on Time Warner in 2018.
The blockbuster deal has insiders swirling about the new company, which will be led by Discovery CEO David Zaslav:
- AT&T is combining WarnerMedia with Discovery to create a new streaming giant
- Inside CNN, where staffers are mostly relieved its parent company is merging with Discovery and are now speculating about Jeff Zucker's future there
- WarnerMedia and Discovery's merger is already shaking up leadership. Here are the execs vying for power.
Public relations tech giant Cision faces a collective action lawsuit over overtime pay
- Three former sales representatives are suing Cision, alleging unpaid overtime, Sean Czarnecki reported.
- A court has granted collective action status to the lawsuit.
- Cision is the world's largest public relations tech company.
Read the story.
Expedia Group's Vrbo is unapologetically luring hosts from rival Airbnb with cheeky ads and new perks as short-term-rental platforms look to grow supply ahead of a busy summer for travelers
- This summer is gearing up to be a big one for the short-term-rental market, Madeline Stone reported.
- But while demand is high, supply is low.
- Vrbo is appealing to Airbnb hosts with new programs and ad campaigns.
Read the story.
Other stories we're reading:
- EXCLUSIVE: Amazon plans new 'Diagnostics' brand that offers at-home medical tests for COVID-19, sexually transmitted infections, and clinical genomics (Insider)
- Trump would be allowed on celebrity video app Cameo if he wanted to join, the company's CEO said (Insider)
- J.Crew is hiring a designer who helped turn Supreme into a cult streetwear brand, as the preppy retailer looks to revamp its image (Insider)
- Google struggles to match Apple on smartphone privacy changes (The Information)
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Read the original article on Business Insider