Good morning. Here’s everything you need to know in the world of advertising today.
1. Gawker has won court approval to kick off the process of selling itself. Gawker filed for bankruptcy last month to shield itself from the $140 million judgment against the company over its publishing of a Hulk Hogan sex tape.
2. Reid Hoffman says LinkedIn joined Microsoft because it’s harder than ever to compete with Google and Facebook. LinkedIn’s executive chairman said companies need to keep researching the next big thing and the five-year future if they want to compete with the tech titans.
3. The company that buys Yahoo could end up paying $1 billion to Mozilla for nothing. There is a hidden clause in Yahoo’s agreement with the browser that allows Mozilla to walk away from the deal and still get paid $375 million every year until 2019.
4. Google bought a video company to help lure in media firms. Anvanto offers tools for streaming and editing.
5. An American craft brewer is calling out Budweiser’s summer “America” campaign as “un-American.” “Frankly, Budweiser calling itself ‘America’ is the most un-American thing I’ve observed in quite a while,” Will McCameron, president and co-owner of the Greenville, South Carolina microbrewery Brewery 85, wrote in a blog post on craft beer website Brew Studs.
6. The creator of Crystal Pepsi says it’s probably the greatest idea he’s ever had. Former Yum Brands CEO David Novak said the failed product taught him the lesson that when you’re a leader, it’s your duty to take into account your employee’s input and to explain your final decision.
7. The boss of The Sun and Times says the publisher is competing with Google and Facebook in the battle for ad revenue. Rebekah Brooks, News UK CEO, said she’s “taken a leaf out of their book” in the way the publisher sells to clients.
8. The Silicon Valley 100 is out. The most amazing and inspiring people in tech right now.
9. This is the real reason Amazon is bringing back its “Prime Day” sale. Not only does it bring in additional revenue, but it’s a good day to test customer demand for the rest of the year, it offers a spike to the slow summer period, and it also incentivizes third-party sellers to join Amazon.
10. Media mogul John Malone says Viacom’s assets are “substantially undervalued” because of the company’s ongoing turmoil, The Wall Street Journal reports. The Liberty Media chairman was speaking at the Allen & Co. conference.
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