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Your Media Morning: AT&T Gets Time Warner, Time Warner CEO Jeff Bewkes Staying Put For Now, How The Deal Came to Be...

BARRON'S EDITOR ACCIDENTALLY SENDS EMAIL ANNOUNCING PLANNED LAYOFFS...OUCH!
Barron's is planning to announce lay-offs next week, editor Ed Finn wrote in an email that he accidentally sent to the entire Wall Street Journal newsroom on FridayOn Friday morning, Journal editor Gerard Baker emailed Journal employees to announce a round of newsroom buy-outs. Finn — the president and editor of Barron's, which is owned by Journal parent company Dow Jones — apparently meant to forward Baker's email to Dow Jones Media Group publisher Almar Latour and two other company executives.

HOW THE AT&T TIME WARNER DEAL CAME TO BE
When Time Warner Inc's Jeff Bewkes welcomed AT&T Inc's Randall Stephenson for lunch at Time Warner Center in New York in late August, their meeting was supposed to be one of the catch-ups the two chief executives have had over the years.

THERE IS ALWAYS A CASE TO BE MADE WHEN IT COMES TO DEALS LIKE AT&T TIME WARNER
AT&T is offering $110 a share, a 24 percent premium to today's closing price, pegging the total value at about $86 billion. Too bad the deal doesn't make much sense. Similarly, it doesn't make sense for Apple to own Time Warner, either, which we'll get to further down. Here's why: A company that owns pipes, whether over the air or through the ground, doesn't actually benefit from owning the content flowing through those pipes.

TIME WARNER CEO JEFF BEWKES NOT BEING REPLACED BY FORMER NEWSCORP PRESIDENT PETER CHERNIN
Time Warner CEO Jeff Bewkes is expected to stay on through the close of the company’s acquisition by AT&T and is unlikely to be replaced by former Fox top exec Peter Chernin. AT&T chief Randall Stephenson said that maintaining continuity of the top talent at Time Warner was a major factor in the desire to acquire the company.

SNAPCHAT IS A CAMERA COMPANY THATS LOOKING TO REPLACE THE TELEVISION?
It’s an ambitious move that Snapchat has attempted before in a more limited manner. But with billions of television ad dollars at stake and plans for a $25 billion IPO underway, Snapchat is determined to evolve from a platform where teens trade selfies into the media powerhouse that reinvents must-see TV for the phone-first generation.

TASTY IS THE ENGINE THAT DRIVES BUZZFEED VIDEO
Tasty is not just one of the biggest publishing brands on Facebook; it’s now the driving force behind the BuzzFeed video juggernaut. In September, Tasty’s main Facebook page was the third-biggest video account on Facebook with nearly 1.7 billion video views, according to Tubular Labs. Viewership per video is also staggering: During the last three months, Tasty’s Facebook videos have averaged 22.8 million video views in the first 30 days alone.

FUSION'S EFFORT TO UNIONIZE BEING UNDERMINDED BY UNIVISION EXECUTIVES
Earlier this month, a majority of editorial staffers at Fusion signed union cards to join the growing list of digital journalism outlets embracing collective bargaining. But now some employees at the millennial-geared web publisher are frustrated by the response from Univision Communications Inc., Fusion’s parent company. Employees say executives have applied subtle pressure in “captive audience meetings” at four offices across the country.

TRUMP THREATENS TO BLOCK AT&T, TIME WARNER TIE UP AND DISMANTLE COMCAST IF HE WINS
 Donald Trump expressed that he would not approve the AT&T and Time Warner merger if elected president. “Deals like this destroy democracy,” he said. Trump also said he would like to break up the Comcast-NBCUniversal merger. Members of the media “lie and fabricate stories to make a candidate they don’t like look as bad and dangerous as possible.”

60 MINUTES SPOTLIGHTS THE TOP PAID SOCIAL MEDIA STARS
Andrew Bachelor. Amanda Cerny. Logan Paul. If you know these names, you’re likely a millennial. If you don’t, here’s what you should know: They are “social media influencers” — attractive, young performers who have gained millions of fans on Internet platforms like YouTube, Snapchat and Instagram.

MAJOR RESTRUCTURING, JOB CUTS COULD HIT TWITTER
The apparent lack of interest in Twitter by potential suitors may force the social media company to consider a route anathema to aspiring tech startups: a major restructuring and cutting some its nearly 4,000 employees. “It’s going to take some bold moves here.”

MICROSOFT ONCE TRIED TO BUY FACEBOOK FOR $24 BILLION 
Steve Ballmer said that when he was CEO of Microsoft he approached Mark Zuckerberg about buying Facebook. Ballmer said he recalled the offer being “$24 billion, when the company was itsy bitsy.” At the time, Zuckerberg said no, Ballmer said. “I respect that.” He added, “You have to have a willing seller.”

WALL STREET JOURNAL OFFERS BUYOUTS
The Wall Street Journal is making buyouts available to a “substantial number of employees” as the news company reviews its operations amid a continued slide in print advertising. In an email to staff on Friday, the Journal’s editor in chief said it is offering “enhanced” buyouts to all newsroom employees “to limit the number of involuntary layoffs.”

TIME OUT BUYS EVENTS TICKETING APP YPLAN
Time Out has bought Yplan, the app that lets users book last-minute tickets for sold-out events, in a £1.6 million deal. Yplan, which was deemed a “seriously good app” by Stephen Fry when it launched, offers its users tickets for events each day across London, Edinburgh, New York, San Francisco and Las Vegas.


-Good Morning
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Your Media Morning: AT&T Gets Time Warner, Time Warner CEO Jeff Bewkes Staying Put For Now, How The Deal Came to Be... Reviewed by Editor on 7:30 AM Rating: 5
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