Hi! Welcome to the Insider Advertising daily for November 20. I’m Lauren Johnson, a senior advertising reporter at Business Insider. Subscribe here to get this newsletter in your inbox every weekday. Send me feedback or tips at [email protected].
Today’s news: BuzzFeed buys HuffPost, speculation is swirling about CBS News’ Susan Zirinsky, and Wall Street loves adtech again.
- BuzzFeed is buying HuffPost from Verizon, The Wall Street Journal first reported on Thursday.
- The acquisition is entirely in stock, and Verizon will get a stake in BuzzFeed. Verizon will also invest cash in BuzzFeed.
- BuzzFeed CEO Jonah Peretti, who helped launch The Huffington Post, will run both BuzzFeed and HuffPost after the deal closes.
TV Insiders are speculating about the future of CBS News boss Susan Zirinsky, one of the industry’s highest-ranking women
- Claire Atkinson reports that Susan Zirinsky is dropping some big hints that she is unhappy with aspects of her role, leading to speculation that there may be changes at the top of CBS News.
- Sources said that she’s passionate about producing, but administrative and financial aspects of her role are getting her down.
- Zirinsky stepped into the role in January 2019, becoming the first woman to lead a news division at a broadcast network. Speculation about who could replace her is mounting.
- Lara O’Reilly reports that adtech share prices are undergoing a resurgence, with stocks up 57% year-to-date.
- The sector has benefited from COVID-accelerated trends, such as the shift to digital content consumption and e-commerce, and the wider stock market rally.
- But the adtech rally could be a bubble ready to burst, experts warn.
More stories we’re reading:
- The Recount made a big bet on politics news, but the media startup has a plan to keep viewers around post-election(Business Insider)
- Sources said Rolex would create an in-house ad agency and move its business away from ad holding company giant WPP after nearly 75 years (Business Insider)
- How Planet Money’s TikTok account has become a breakout hit through careful scripting, engaging in the comments, and making a 24-year-old its star (Business Insider)
- Peanuts holiday specials will air on PBS after rights-holder Apple’s move to make them streaming-only sparked backlash(Business Insider)
- ‘A cynical ploy to divide and conquer’: Apple’s big App Store fee cut enraged its biggest adversaries in its developer war, including Spotify and Epic Games (Business Insider)
- Nielsen has an ID resolution solution on the docket for early 2021 (AdExchanger)
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