For the Record

SiriusXM Acquires Stitcher:

Satellite radio company SiriusXM is buying podcasting company Stitcher from E.W. Scripps in a deal worth $325 million, Ashley Carman of The Verge reported Monday. The acquisition includes the subsidiary Earwolf comedy podcasting network and Midroll Media, "a podcast ad company that sells ads for other shows like The Dream and Getting Curious with Jonathan Van Ness that [Stitcher] acquired in 2015 for $50 million." 

White House Attempts to Track Leakers:

White House Chief of Staff Mark Meadows "has told several White House staffers he's fed specific nuggets of information to suspected leakers to see if they pass them on to reporters — a trap that would confirm his suspicions," with President Trump reportedly asserting to Meadows that "an important part of his job is to 'find the leakers,'" Jonathan Swan of Axios reported Sunday. According to Swan, the president is "especially furious" about reports of the Russian government paying the Taliban bounties to kill American soldiers and his alleged sequestration in the Presidential Emergency Operations Center during the George Floyd protests on May 31. However, Meadows has only "caught only one person [...] for a minor leak" thus far.

Alt-Weeklies Battle for Survival:

Despite difficult financial prospects, many alt-weeklies have immersed themselves in coverage of the COVID-19 pandemic and the George Floyd protests. "I've got more people telling me 'Oh, this feels like the golden age of The Stranger,’ or 'This feels like the old times,'" said Jasmyne Keimig, a staff writer at the Seattle newspaper. "I have not heard that before this moment, but it definitely feels gratifying to hear, because it’s like, all right, we’re doing something right."

Chatham Wins McClatchy Auction:

Chatham Asset Management "has won an auction to buy" McClatchy, Kevin G. Hall of McClatchy DC reported Sunday. The New Jersey-based hedge fund is the bankrupt local news company's largest creditor. "As long-standing supportive investors in McClatchy, we are pleased with the outcome of the auction," Chatham said in a statement. Pending approval from McClatchy's board of directors, the acquisition is scheduled to be finalized by Judge Michael E. Wiles of the U.S. Bankruptcy Court for the Southern District of New York on July 24.

McClatchy Auction Resumes:

A federal bankruptcy judge "ejected a last-minute attempt by Alden Global Capital to weaken a rival bid for McClatchy, clearing the way for a pair of hedge funds to battle for ownership of the nation’s second largest local news company," according to Kevin G. Hall of McClatchy DC. Beginning Friday, Alden and rival hedge fund Chatham Asset Management will bid on the newspaper company in an auction overseen by the Southern District of New York Bankruptcy Court. Bidding will be limited to the two companies. Hall added that Judge Michael E. Wiles will either "approve the winning bidder or award the company to a backup bidder" on July 24.

Sports Illustrated Owner Questions Operating Licensee:

Authentic Brands Group (ABG), the entertainment and brand management company that acquired the intellectual property of Sports Illustrated in 2019, is "examining The Maven’s rights under the license to operate the Sports Illustrated media business — potentially removing the legendary sports brand entirely from the hands of the [...] Seattle-based media company," according to Maxwell Tani and Lachlan Cartwright of The Daily Beast. The Maven's operation of the brand "has been tumultuous from day one," encompassing layoffs that precipitated the formation of the sports news organization's first union and an alleged "content mill" operating strategy. 

Doubleday's Nan A. Talese to Retire at End of 2020:

Longtime Doubleday editor Nan A. Talese will retire and shutter her imprint at the end of 2020 "after more than 60 years in the business," Ed Nawotka of Publishers Weekly reported Wednesday. Talese, who is married to literary journalist and past Pulitzer juror Gay Talese, began her career as a copywriter at Random House in 1959 and was the first woman to serve as the publisher's literary editor. Her imprint has published two Pulitzer finalists. "Nan’s brilliance, generosity of spirit and editorial expertise have changed the bookselling world at large," said Penguin Random House CEO Madeline McIntosh.

1619 Project to Receive Multiplatform Adaptation:

2020 Commentary winner Nikole Hannah-Jones and The New York Times have selected Lionsgate as "the home for a wide-ranging partnership" centered around a multiplatform adaptation of The 1619 Project, Tonja Renée Stidhum of The Root reported Wednesday. Oprah Winfrey and Caitlin Roper (an editorial director who serves as The Times' head of scripted content) will serve as producers on the adaptation, which encompasses "feature films, television series, documentaries, unscripted programming and other forms of entertainment." 

McClatchy Bankruptcy Auction Delayed:

A planned bankruptcy auction of McClatchy by the Bankruptcy Court for the Southern District of New York was delayed late Wednesday when Alden Global Capital "filed an emergency motion asking Judge Michael E. Wiles to effectively disallow portions of the bid from rival hedge fund Chatham Asset Management," according to Kevin G. Hall of McClatchy DC. In the motion, Alden argued that a portion of Chatham's proposed credit bid consists of "2nd and 3rd lien debt" potentially subject to litigation. A hearing on the matter is scheduled for Thursday.

Facebook Boycott Organizers Take Zuckerberg Meeting:

A Tuesday meeting between organizers of the #StopHateForProfit advertising boycott and Facebook's senior leadership team (including CEO Mark Zuckerberg) was characterized as a "disappointment" by Color of Change President Rashad Robinson and other participants. "We had 10 demands and literally, we went through the 10, and didn't get commitments or timeframes or clear outcomes," said Anti-Defamation League CEO Jonathan Greenblatt. In a statement, Facebook spokesperson Andy Stone said the company is "grateful to these groups and many others for their continued engagement."