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Digiday DealBook: New NFL streaming service, Instagram shutting down e-commerce site, HBO Max and Discovery+ streaming merger, and more

August 8, 2022 | Written by Carly Weigh

    Ivy Liu

    Welcome to Digiday’s DealBook. Our focus is a quick and easy summary of the deals, acquisitions and hiring that took place over the past week. The goal is to be notified and updated with industry updates at the top of your inbox every Monday. —Caliwei River

      The NFL launched its new streaming service NFL+ last week. The league hopes to appeal to a younger audience with an app-based model as well as two different service options.

      Facebook and Instagram will stop live shopping on their affiliate sites on August 31st. The announcement comes after volatile second-quarter earnings, with executives noting that their new focus will be on interacting with Reels across platforms.
      HBO Max and Discovery+ announced that the streaming platforms will merge into one platform this summer 2023. It hasn’t been revealed how this will affect the subscription model.

      Elon Musk formally files a countersuit against Twitter, a 164-page document Now sealed. The case will be heard in Delaware Chancery Court on October 17.
      PepsiCo has invested $550 million in popular energy drink Celcius. With this investment, PepsiCo now owns a minority stake of approximately 8.5% in the company.

      Although JetBlue Airways announced the acquisition of Spirit Airlines for $3.8 billion, the deal will be On hold until the Justice Department completes its antitrust review. The agreement could end after a formal investigation sometime in 2024.

      Snapchat launches a new space for budding musician creators to create through sound Investor Fund. The fund will allow new musicians to continue creating their sound content for free on Snapchat, which users can apply to their videos.

      New York Magazine’s The Cut launched a new digital boutique last week. Cut Shop is an online boutique that will provide readers with fashion, beauty, health and more recommendations from its editors and writers.
      INSP affiliate Imagicomm Communications concluded a deal last week with Cox Media Group to acquire Its 12 radio stations across the country. The acquisition expands INSP’s media portfolio to include local-level radio stations.

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