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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David Zaslav, chief executive officer of Discovery Communications, arrives at the annual Allen & Company Sun Valley Conference, July 9, 2019 in Sun Valley, Idaho. Every July, some of the world's most wealthy and powerful businesspeople from the media, finance, and technology spheres converge at the Sun Valley Resort for the exclusive weeklong conference.
Drew Angerer/Getty Images
Drew Angerer/Getty Images
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.
Cision
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.
Marianne Ayala/Insider
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