With the White House Correspondents’ Dinner approaching, the TV news industry seems to be undergoing changes. For instance, MSNBC and CNBC are being restructured by Comcast, hinting at potential new approaches in the future. Meanwhile, CNN’s head, Mark Thompson, is aiming to revamp its digital presence for the pioneering 24/7 cable news channel. Lastly, Fox News is emphasizing its traditional strengths while planning to introduce a streaming service within Fox Corp.
There’s been a leadership shift at the nightly newscasts for both NBC News and CBS News. However, a potential resolution concerning a segment of ’60 Minutes’ has these news divisions in a state of unease.
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Both NBC News and CBS News have seen changes in their evening newscast leadership. Yet, they are on tenterhooks due to a possible settlement regarding a 60 Minutes episode.
Jay Sures, vice chairman at UTA, is aiding numerous clients such as Anderson Cooper, Chuck Todd, Norah O’Donnell, Fareed Zakaria, Jen Psaki, Abby Phillip, Jake Tapper, and David Muir (and many more) in dealing with various challenges.
Indeed, Sures was interviewed by Ryan Hayden and Marc Paskin, both co-heads of UTA’s news and broadcasting department, in a detailed discussion with The Hollywood Reporter about the present scenario.
What’s currently trending in media and television news? It appears we’re at a fascinating juncture where there’s plenty of potential, but also some instability in the business structure. As representatives guiding our clients through this, how are we handling this dynamic period?
Jay Sures expresses great optimism for the news industry. He acknowledges that it has undergone significant changes over time, but with the current global circumstances, news is arguably more crucial than ever. Therefore, they are highly confident about its future, expecting continuous change and transformation. However, he emphasizes that reputable journalists with extensive experience will remain essential and are likely to prosper in the coming years.
Ryan Hayden: The past year’s election cycle and this year’s Los Angeles fires have highlighted a continued demand for reliable and exceptional journalists and journalism. This is evident in the ratings, which doesn’t go unnoticed by anyone. That’s why we’re optimistic about the industry, as people tend to seek out such professionals during challenging times.
Marc Paskin: Similarly, as Jay mentioned about well-known talents, we’re discovering there are truly creative agreements that can be struck for such individuals, and audiences are gravitating towards these trusted figures. Having a more diverse marketplace to explore with our clients is really thrilling for us.
It appears that many high-profile talents are expanding their portfolios when they sign new contracts, including podcasts and digital/streaming products. It used to be common for someone to have just one job, like anchoring for an hour on a specific day, but now I’m noticing more stars taking on multiple roles in various locations. Although single-job deals still exist, there seems to be a growing trend towards versatility and multi-tasking.
John: It seems to me that the central aspect here is being an entrepreneur. Many are seeking ways to either revamp their approaches or stay one step ahead, which could involve starting a podcast, joining Substack, writing a newsletter, developing intellectual property, or any combination thereof. For instance, if you have a captivating podcast that tells a compelling story, it creates its own intellectual property. This can then be reused to produce a TV show. Essentially, entrepreneurship is what we’re observing as the primary focus, and I believe this has been the prevailing trend over the past year.
It seems you’ve hinted at this, but it’s worth noting that some well-known television personalities have shifted to platforms like YouTube or started podcasts, while others have taken original projects they developed for media companies and gone independent. Simultaneously, content creators specializing in news or commentary are expanding their audience significantly on their own.
It appears as though there’s an intersection occurring between the creator-driven marketplace of news and opinions, and the established, formal industry of news and opinions. Do you observe a similar trend as well?
Certainly, we’re recognized leaders in that field and take great pride in our work. We represent a number of influential YouTubers who attract countless viewers each month, effectively functioning as a powerful platform. This immense reach carries a significant responsibility, as they lack the regulatory teams found in traditional news outlets like NBC News or CNN to guide them in podcasting and audio production. As these digital and traditional media realms merge, we’re optimistic that they can complement each other rather than compete. In essence, it could be beneficial for both parties. We’re witnessing the initial stages of this convergence, and I believe we’ll see more and more figures from the digital landscape making their way into traditional broadcasting. Conversely, established broadcasters will also venture into digital-native spaces. This fusion of opportunities is truly intriguing.
As a fervent admirer, I’ve noticed that for quite some time, there have been discussions about consolidation within the media industry. However, considering the present administration’s apparent disfavor towards several prominent media companies, it’s uncertain if this consolidation will materialize in the immediate future. But, do you envision consolidation happening? If so, how would one navigate such a landscape, especially since opportunities in traditional sectors appear to be shrinking, while entrepreneurial possibilities continue to flourish?
John: It’s clear to me that we’re heading towards consolidation, and it’s happening before our eyes currently. If you consider some large media corporations, I believe it’s likely that over the next 12 to 24 months, there will be considerable consolidation among these companies for various reasons. However, when it comes to news, consolidation isn’t as straightforward. It’s unlikely we’ll ever see CNN and MSNBC merged into a single company, or CBS and ABC News becoming one entity. So while consolidation is on the horizon, I’m not convinced that the news industry will become as consolidated as other media sectors.
It’s been hinted that if Warner Bros. Discovery were to make a deal, they could potentially separate CNN as a standalone entity.
Sures is saying that it’s possible for companies like Warner Bros. Discovery and Skydance-Paramount to follow Comcast’s example and create separate entities (like Spinco) for their networks, such as MSNBC, CNBC, Turner networks, CNN, and all their linear networks. This isn’t exactly consolidation but rather a move to extract legacy assets from the main companies and establish new ones with potentially different philosophies. These new companies might focus more on cash flow rather than growth, which would be decisions made by bankers and executives considering stock prices. While this isn’t inherently bad for the news business, it could actually provide more independence to news outlets in the current political climate.
“As a dedicated gamer, I believe that cutting ties with certain aspects of the business could boost the performance and credibility of gaming news sites.”
Here’s my rephrased suggestion: It seems plausible to me. You see, news outlets today find themselves in a challenging political climate, which is understandable given the circumstances. As dedicated professionals within the journalism field, I believe we should make every effort to uphold and safeguard high-quality journalism. After all, a free press is essential for our democracy; it promotes transparency and benefits everyone. In times of stress for the media, it’s crucial that we remain vigilant, recognize the challenges, and do everything possible to ensure the press continues to thrive as an open and independent entity.
As a gamer, I find myself caught between the tumultuous dynamics between the government and the press. The AP pool situation and certain White House decisions have made navigating this complex landscape quite challenging for my clients who are right in the middle of it all. So, how do I offer assistance, guidance, or advice to them in such a volatile context?
As a Gamer: Each time feels like a repeat. The heart of my approach should always be top-notch gaming journalism. I need to hold myself accountable for meeting the highest standards in this field. I believe if I focus on exceptional journalism, I’ll uncover new perspectives. Ryan and Marc echo this sentiment when advising our clients – no matter where they stand. The key advice we share is always prioritize excellent gaming journalism above all else.
It seems likely that this year’s White House Correspondents’ Dinner may not maintain the same atmosphere or tone as it has in previous years. Given this, what are your thoughts on this year’s event? You still have your usual party planned, which is a significant part of the weekend, but how are you approaching this year’s dinner and the current mood in Washington?
John: Each year, we’re exploring the same idea: combining news, entertainment, media, sports, fashion, and more into a single platform and creating an atmosphere where everyone can gather to honor journalism. This concept isn’t fading any time soon. While some people may attend this year who didn’t last year, and others might not show up this year, our goal of uniting individuals from various backgrounds to celebrate journalism remains constant. That’s the main idea, and it won’t disappear anytime soon.
When helping individuals decide if they should start a podcast, newsletter, or any venture beyond traditional TV, how do we determine the best entrepreneurial paths tailored to their unique abilities? There are numerous possibilities when it comes to entrepreneurship, but what works for one person may not be suitable for another.
When guiding talent on whether they should consider podcasting, newsletter creation, or ventures outside the usual TV sphere, how can we jointly discover the ideal business opportunities that align with their skills and interests? While there are many entrepreneurial ideas to discuss, what fits one person might not suit another.
Hayden: Every individual’s talent varies, which means there’s no one-size-fits-all approach to this. Instead, it involves having a discussion with the client to understand their specific journalistic needs and personal style. We then strive to determine whether their focus should be on written content, visual media like cameras, or audio-based work. Sometimes, a combination of these may be beneficial. Essentially, we aim to design a strategy and representation that highlights each client’s unique strengths.
UTA stands out due to our ability to access data and use it wisely for our clients’ benefit. This is a fundamental aspect of how we work, allowing us to understand specific audiences effectively and decide if they are ready for a particular platform over another. This advantage enables us to make well-considered, informed decisions that may also help grow an audience in various shapes and forms that we believe could be valuable in the future.
Have I not come across tales about anchors no longer receiving the large paychecks they once did? I’ve also listened to stories about individuals who are earning increases, primarily because of their multi-faceted roles and entrepreneurial spirit. What does the current market look like for high-profile talent? Do you suppose it has reached its maximum potential, or is there still potential for further expansion?
Johnny: I’m not certain if it has reached its pinnacle. You see, major stars are always in demand. They will consistently command high paychecks regardless of the industry, be it news, films, television, or music. Top-tier stars offer something distinctive, and I believe they’ll continue to thrive. They contribute more than just audience numbers to the companies they collaborate with. Often, they become the public face of a company, and that’s difficult to quantify.
In simpler terms, there’s a significant decrease in the industry, with many people experiencing reductions and stories about this being shared in the media. However, I believe there’s a small gap between the news coverage and the actual situation on the ground. When we express optimism about the news business, it’s based on the trends we observe among our clients.
As a news enthusiast, it’s evident that there’s a thriving demand for current events and perspectives. This demand isn’t waning; instead, it’s evolving. The sources from where we, the audience, are consuming our news and opinions are changing, yet the hunger for this vital information remains unquenchable.
News cycles tend to fluctuate based on local and national events. For instance, local news gains momentum during specific periods due to local happenings, while national media experiences surges during election seasons and midterm elections. Essentially, our business follows a cyclical pattern. However, in the grand scheme of things, I firmly believe that news is essential for daily existence and understanding of life, which makes it a sustainable and long-lasting entity.
When conversing with executives from these businesses, either on CNN, MSNBC, or Fox News, how much attention are they giving to shifts in consumer behavior and opportunities for adaptation, all while leveraging their robust steady income streams?
Each business tackles this issue in its unique way, with distinct strategies. Broadcast networks differ from cable companies, and even among the cable providers, there’s a noticeable variation. I believe they all view it differently, but the main idea, hinted at in your question, is that linear TV is waning due to cord cutting, though it should bottom out soon. However, there’s an uptick in digital consumption, and people are willing to pay for subscriptions. Therefore, we’re trying to find a balance between these factors, and it seems we’re approaching a point where this equilibrium becomes clearer. In other words, the sweet spot where these elements meet is becoming more apparent.
Is it possible that a standout performer could be the centerpiece of a paid service within a broader platform or system?
Hayden: I give it my all, and I believe there’s a tendency for individuals to be drawn more towards standout personalities rather than comprehensive networks. However, I think this is an area where we have a significant advantage.
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2025-04-25 22:57