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ABC Acquiesces
The Disney-owned news network opted to pay $16 million and issue a statement of regret to settle a lawsuit brought against it by Donald Trump.
Weekend Rundown
Donald Trump. (Photo by Win McNamee/Getty Images)
ABC News bent the knee and settled a lawsuit that Donald Trump had filed against the outlet, agreeing to pay $15 million to the president-elect’s future foundation, in addition to $1 million of his legal fees. Most notably, however, the network and anchor George Stephanopoulos issued a statement of regret to Trump. Embarrassing for all involved, to say the least.
Stephanopoulos had previously defended himself against Trump’s defamation claims, saying in May that he wouldn’t be “cowed out of doing” his job “because of a threat.” His bosses at ABC News and Disney apparently did not share that spirit.
The capitulation by ABC News is sure to embolden Trump and his allies, who have vowed to launch an unprecedented assault on the free press. “Actual or threatened libel lawsuits are [a] weapon at their disposal — and they are being deployed even before Trump moves back into the White House,” David Enrich pointed out. [NYT]
Lawyers from all political persuasions were astonished by the settlement. “The ABC News settlement makes zero sense from a legal standpoint,” George Conway wrote on Bluesky. Marc Elias said it amounted to “another legacy news outlet choosing obedience.”
While ABC News will get most of the heat for this, Bob Iger and the Disney executives over in Burbank are ultimately responsible. Like other business leaders, it’s evident they don’t want to be involved in a dispute with the president-elect.
Notably, the settlement came days after Debra OConnell, the Disney executive who oversees ABC News, dined in Palm Beach with Susie Wiles, Trump’s incoming chief of staff, per reporting from Michael Grynbaum and Alan Feuer reported. [NYT]
Seriously, what’s going on inside the Magic Kingdom? Is something in the water? Stephen A. Smith went on a wild rant embracing MAGA’s January 6 rhetoric to attack “corrupt” Democrats. [Mediaite]
The LAT published a story on Patrick Soon-Shiong’s efforts to make the newspaper more Trump-friendly. While the article was fairly forgiving to Soon-Shiong, it did house several nuggets of news. [LAT]
The newspaper lost 20,000 subscribers after Soon-Shiong blocked the editorial board’s planned endorsement of Kamala Harris. The paper has 650,000 paid subscribers, 275,000 of which are digital.
Soon-Shiong lauded himself for having “courage” to block the endorsement, saying he knew it “would be disruptive.”
Soon-Shiong said his vision for the Opinion section is to have an editorial board that focuses on local issues and a separate unit of freelance contributors, such as Scott Jennings, who delve into national and international issues.
Soon-Shiong said he no longer plans to place his so-called “bias meter” on news stories. But he said the A.I.-powered tool will be affixed to opinion stories. Further, he said that he will have it go through five decades worth of opinion pieces and publish results from that analysis.
The state-of-affairs is not so good over at Jeff Bezos’ newspaper, either.
Jorge Ramos signed off "Noticiero Univision" after four decades and some 8,000 newscasts: "I am convinced that real journalists never retire and now this is a time of change." [Deadline]
Isabella Simonetti reported on how CNN and MSNBC are trying to "dig out of a post-election ratings hole." Both networks have seen viewership collapse in recent weeks. [WSJ]
Simonetti also reported on how legacy news organizations are trying to find younger audiences on TikTok. [WSJ]
Not only did Meta donate $1 million to celebrate Trump’s inauguration, but Mark Zuckerberg stood with his hand over his heart at Mar-a-Lago as the club played a version of the national anthem performed by the January 6 choir, Brian Schwartz, Dana Mattioli, and Rebecca Ballhaus reported. [The WSJ]
Sam Altman became the latest Big Tech figure to bow before Trump’s throne. The OpenAI boss also chipped in $1 million to the inaugural fund. [AP]
“In the past, these donations would eventually be disclosed in filings, but this time around, the contributors seem eager to let the world know they're doing it,” Peter Kafka pointed out. [Business Insider]
"Saturday Night Live" featured Sarah Sherman playing Nancy Grace scolding those on the internet obsessing over Luigi Mangione. [Variety]
After Jay-Z's accuser conceded she "made some mistakes" when detailing the allegations against him, the music mogul issued a statement saying "true justice is coming." [Deadline]
Paula Abdul settled a sexual assault lawsuit with "American Idol" producer Nigel Lythgoe. [Variety]
Puck poached Kim Masters from The Hollywood Reporter. [The Wrap]
Conan O'Brien's parents died three days apart from each other. [THR]
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Box Office Report
"Moana 2" has been a box office hit. (Courtesy of Disney)
It was another great weekend for Disney's "Moana 2." The sequel pocketed another $26.6 million, topping the domestic box office. It has now earned $717 million globally. [Deadline]
Universal's "Wicked" wasn't far behind, adding $22.5 million to its total. It has earned more than $500 million globally. [Collider]
Meanwhile, Sony's "Kraven the Hunter" bombed, with only $11 million. [The Wrap]
Elsewhere, "Gladiator II" drew $7.8 million in receipts and "The Lord of The Rings: The War of Rohirrim" $4.6 million. [Box Office Mojo]
Status Check
VOTE: Who lost the week?For the week of December 8 to 15. |
The Pinterest logo. (Courtesy of Pinterest)
There is a lot of chatter these days about how publishers and advertisers are using TikTok and Instagram to reach new — and younger — audiences. While those two companies boast the largest audiences, they are not the only names in the game.
Pinterest is one of the online destinations that possesses a large, loyal audience that is being leveraged by companies to drive engagement, particularly with holiday shopping underway.
I spoke to Martha Welsh, Pinterest’s chief strategy officer, for an interview about what makes the social media platform different than its competitors, why it actually wants to work with digital publishers, and how it is using A.I. to help advertisers.
Below is the Q&A.
How does Pinterest's audience differ from other social media platforms, and how do you believe advertisers can leverage that for their benefit?
I heard you’ve recently been using Pinterest to decorate your new home office. Like you, more than half a billion people come to Pinterest each month to explore, curate and shop. In fact, more than 50% of Pinterest users come to our platform to shop, and they save 1.5 billion Pins per week. This means ads are truly great content on Pinterest and actually enhance the core user experience. When someone searches for “winter boots” on Pinterest, they see personalized ads alongside organic content so they can seamlessly shop. Curation at this scale doesn’t happen on any other platform, and advertisers are taking notice. We’ve seen deepened user engagement while delivering more performance for advertisers — in Q3, we doubled the clicks to advertisers year-over-year again for the fourth quarter in a row.
What particular trends are you seeing in media consumption on Pinterest during the holiday period? And how are brands leveraging Pinterest to drive traffic and engagement as people shop for gifts?
Because users come to Pinterest with intent, we have a deep understanding of their tastes and know what they’re shopping for days, weeks, even months before they buy. That’s why we see so much interest from brands about our annual trend forecast, Pinterest Predicts — and nearly 80% of our trend predictions have come true over the last five years. I’m already buying “Fisherman Aesthetic” pieces for 2025! Holiday is the most important retail period of the year, and users are coming to Pinterest to shop —there have been over one billion searches for “gifts” or “presents” over the years. We saw a real opportunity to make holiday shopping more beneficial for users and brands on Pinterest, so we worked with tastemakers like Vogue, Emma Chamberlain, and K-pop girl group TWICE on 1,000 unique gift guides. We also launched a suite of new tools like promotions and deal ad modules powered by machine learning to better help retailers highlight their holiday shopping discounts.
There is a lot of focus on influencers hawking items on TikTok and Instagram. What role do they play in the Pinterest ecosystem? And do you worry about influencers, who are driven by advertising sales, misleading audiences?
The short answer is no, we’re not worried. While creators play an important role in our ecosystem, we get shopping inspiration from a broad range of trusted publishers, merchants, brands and more. And because users come to Pinterest for an authentic experience, we’ve found what works best on Pinterest is content with personality — not personalities with content. Pinterest users simply don’t respond well to inauthentic content.
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While some tech companies are leaning away from media, Pinterest is doing the opposite. Tell me about the thinking behind partnering with companies like Dotdash Meredith and Condé Nast.
As a visual platform for searching and shopping, publishers are important partners for our business and content ecosystem, and we want to help them leverage Pinterest as another source for traffic and revenue. On top of the partnerships you mentioned, we published editorial board drops with Rolling Stone and Billboard, giving a second life to their archives, and launched the Red Standard Program to reward top performing and engaged publishers on Pinterest. This all came to life with our collaboration with REAL SIMPLE, where we leveraged our unique strengths around shopping and commerce to launch the first-ever shoppable issue on Pinterest. Ultimately, everything we do is focused on bringing our users the best content and making it as easy and seamless as possible to go from inspiration to action — publishers are a key component in making this possible.
Which publishers are doing the best on Pinterest? And are there any media brands that you think should be on Pinterest that are not taking advantage of your user base?
Any brand that leverages Pinterest has a lot to gain from the unique strengths of our platform. Brands like Vogue and Apartment Therapy have combined our expertise in technology with their brand caché to unlock new fans and audiences, including Gen Z, which happens to be our largest and fastest-growing demographic. Brands have been targeting this younger audience for years, and 66% of weekly Gen Z users have said Pinterest is the first or one of the first services they use to shop or browse. So we’re continuing to play to our strengths — visual search and shopping — and meeting our users both online and offline, from activations at Coachella to partnerships with favorite brands like Anthropologie, Urban Outfitters, and Pacsun.
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How is Pinterest working to infuse A.I. into both its consumer-facing website and on the backend for advertisers?
A.I. has always been a core component of personalizing the Pinterest experience. Our systems use our unique first party signals to make more than 400 million predictions per second about content that may inspire our users. As our A.I. learns from these user signals, we see better shopping and significant performance wins for advertisers. We’ve launched the Pinterest Performance+ Suite to bring the best of Pinterest’s AI capabilities to advertisers and to help them more easily develop advertising that’s smarter, more efficient and powerful. Pinterest Performance+ campaigns decrease campaign creation time significantly, with 50% less inputs required. And advertisers are seeing more value in clicks and conversions — Prada tested Pinterest Performance+ and saw a 30% increase in their conversion results in the US.
What's the most worrisome trend in tech today?
There has been a lot of conversation about the impact of the internet on the mental health and wellbeing of young people — and rightly so. I’m lucky to be part of a company whose core mission is to build an inspirational space online for everyone. This is especially important for our younger users, and we’ve taken a number of industry-leading steps such as making the experience for users under 16 private only. And as our CEO Bill Ready has demonstrated by, for example, calling for effective age verification at the device level, Pinterest is continuing to lead the way in pushing the tech industry to prioritize the safety of children and teens online.
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