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In other news… Bob Iger signals a possible selloff, ESPN bets big on gambling, and voice memos are all the talk.
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ENTERTAINMENT
Will Apple bite? // Illustration by Kate Walker
Disney may want Apple to eat it up
The Future. The rumor that Disney could sell to Apple is gaining steam again, as Bob Iger’s second run as CEO has put the storied company in selling mode. The historic deal is likely a long shot, and there’s little indication Disney no longer wants to be independent. Still, a deal with the tech giant could kick off a studio auction that reshapes Hollywood to be run by Apple, Amazon, Netflix, and maybe one other super studio/streamer — all conglomerates that don’t need to make money the traditional way off of film and TV to stay profitable.
iMickey
Could Apple mortgage the Mouse House? Kim Masters at THR is connecting the dots that, this time, it could be a real possibility.
Iger has been in sales mode, suggesting at Sun Valley that Disney’s linear TV networks could be up for sale, which, mixed with other TV assets like FX and Nat Geo, could net the company around $50 billion.
He even tapped former lieutenants Kevin Mayer and Tom Staggs to consult on those potential deals, as well as what to do with Hulu (another wrinkle).
And selling those properties (and maybe Searchlight and 20th Century) would be key to making the diet Disney buyable.
Apple certainly has the money to make the acquisition and has toyed with the idea of buying a studio to bolster Apple TV+.
Disney and Apple have had a long-term relationship, with Steve Jobs sitting on Disney’s board until he passed. Iger sat on Apple’s board for years and held court at the Vision Pro launch, even writing in his memoir, “I believe if Steve were still alive, we would have combined our companies, or at least discussed the possibility very seriously.”
Whether or not Disney and Apple want to join hands, the federal government will probably raise a stink about it… although where a judge would land is a toss-up. While Simon & Schuster’s merger with Penguin Random House was blocked, Microsoft’s acquisition of Activision Blizzard is allowed to go through. So… 🤷
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SPORTS
Disney’s big bet // Illustration by Kate Walker
ESPN bets on sports gambling
The Future. ESPN is finally pushing in the chips on a sports betting partnership with PENN Entertainment. The deal represents a 180 for Disney — during his first stint as CEO, Bob Iger brushed off ESPN getting into betting because he thought it was off-brand for Disney. But times have changed, and Bob 2.0 may be betting ESPN’s gamble could take the brand to new heights… especially as its planned push into streaming could make the operation a simple user experience.
Team chip
PENN Entertainment has struck a 10-year, $1.5 billion deal (and $500 million in warrants) with ESPN to become the brand’s gambling operator.
PENN will get access to ESPN’s branding (media, marketing, and talent).
Meanwhile, ESPN will promote the betting service across its programming.
Why is Disney making this deal now after years of pushback? The money just seems too good to pass up, as seen by the success of platforms like FanDuel and DraftKings. And by working with PENN, ESPN technically isn’t the direct facilitator of the wagering — keeping what execs hope is an ethical, family-friendly distance.
Speaking of a family-friendly distance, PENN has sold Barstool Sports (which it recently acquired for $551 million) back to founder Dave Portnoy for one dollar, replacing its Barstool Sportsbook with the planned ESPN Bet. Why take such a loss? Disney surely didn’t want that headache as part of the partnership.
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TECHNOLOGY
Listen up
Voice memos boom in popularity
The Future. Voice memos are all the talk, especially among millennials and Gen Zers — an odd development given that voicemail is considered uncool (but maybe not for long). The trend of sending audio notes may strangely be a byproduct of the simultaneous boom in podcasting, possibly making the most authentic form of digital communication something we routinely do on the go.
Love to hear myself
The rise of voice memos demands to be heard.
WhatsApp reported users sent over seven billion voice messages just last year.
Hinge said users have increased voice messaging by 37% compared to 2022.
Slack users send 1.46 million voice messages per week.
And it’s not just on specific platforms. A Vox/YouGov poll found 30% of respondents communicate via voice note “weekly, daily, or multiple times a day,” while 43% between 18 and 29 say they do so at least weekly.
Why the love for something so old school? People can get a sense of someone’s emotional state right away (via their pitch, speed, and intonation), send messages while doing other tasks, and feel more authentic and intimate to listeners (which is important for maintaining long-distance friendships).
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No more awkward money moments
There’s nothing more awkward than having to buy a gift for a coworker and collect money from everyone. To top it all off, you have to get them to sign the card — which was tough even before half of the office worked remotely.
Good thing there’s a better way! GroupTogether lets you coordinate group gifts without the hassle.
Here’s how it works:
Head to GroupTogether and decide if you want people to chip in for a gift, sign a card, or both!
Choose and personalize your card design.
Share a link to make it easy for collaborators to click, pay, and sign the card.
Choose from 150+ eGift Cards, or let the recipient choose.
The best part? GroupTogether is free and easy to use. (That’s why they already have over 1 million users.)
Highlights
The best curated daily stories from around the web
Media, Music, & Entertainment
The battle between SAG-AFTRA and the AMPTP over a new streaming residual system has put Parrot Analytics in the spotlight. Read more → thr
Jay-Z’s upcoming Made in America Festival, which Lizzo and SZA were set to headline, has been canceled due to “severe circumstances”… which could really only mean one thing. Read more → complex
Netflix is re-opening NYC’s famed Paris Theater — the city’s last remaining single-screen cinema — after years of renovations and a new focus on showing the streamer’s Originals and a slate of retrospectives. Read more → thr
Fashion & E-Commerce
Resale platforms The RealReal and thredUP are getting closer to profitability — a big win for the sustainability push in fashion. Read more → bof
Allbirds is projecting its sales will crash 23% next quarter after spreading its wings into running shoes and apparel. Read more → theinformation
Nike is set to debut a new Kobe Bryant shoe today as part of the SNKRS platform’s “Live from the Archive” event. Read more → hypebeast
Tech, Web3, & AI
WeWork fails to live up to its name again after reporting it has “substantial doubts” that it’ll be able to continue existing in a post-COVID environment… just four years after being valued at $47 billion. Read more → techcrunch
OpenAI admitted it’s had a bot scraping the internet for years to train its large language model. Read more → insider
The US Health and Human Services Department is launching a new system to track heat-related illnesses across the country. Read more → forbes
Creator Economy
It looks like TikTok may be trying to get into podcasting, allowing users to post clips as videos and link to full episodes. Read more → theverge
Speaking of podcasting, Patreon creators will now be able to publish paywalled episodes on Spotify. Read more → engadget
PE firm The Newcastle Network is recruiting digital creators to test the products they invest in, become co-investors in their private holdings, and form marketing partnerships with their portfolio companies. Read more → insider
JOBBY LOBBY
Explore a weekly curated list of the latest and greatest job opportunities in business, tech, and entertainment. For more listings, check out the complete job board.
Talent Engagement Lead
NBA
New York, NY
Creative Services Director
Nexstar Broadcasting
Colchester, VT
AIML - Sr Machine Learning Manager, Siri Understanding
Apple
Cupertino, CA
Content Designer, Games Documentation
Netflix
Los Angeles, CA
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Today’s email was written by David Vendrell.
Edited by Nick Comney. Copy edited by Kait Cunniff.
Published by Darline Salazar.