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Why TV News Anchors Like Joy Reid and Don Lemon Are Moving to Substack

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Why TV News Anchors Like Joy Reid and Don Lemon Are Moving to Substack

Should Jim Acosta wear a tie?

For the last two months, since the former anchor quit his job at CNN, Mr. Acosta has been broadcasting online several times per week, usually from his dining room, using his iPhone. Often, he is troubleshooting in real time, far from the high-gloss desk and sophisticated cameras of his CNN set.

One question he faces is how many “frills” to add to his interviews with the likes of Pete Buttigieg, the former transportation secretary, or Representative Hakeem Jeffries of New York, the top House Democrat.

“The magic here is not killing or messing with this organic nature of the show,” said Matt Hoye, Mr. Acosta’s newly hired executive producer and a 30-year veteran of CNN, who is leaning “no” on adding neckties but “yes” on graphics.

“The Jim Acosta Show” streams live on Substack, a platform that has recently cemented itself as a harbor for stranded television anchors.

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In January, the start-up best known for email newsletters gave all users the ability to publish live video. Now it is home to a handful of cable stars marooned from their mainstream media jobs amid reshuffled lineups, salary cuts and other controversies. On Substack, where politics is the most popular and lucrative category, anti-Trump publishers have been performing particularly well.

Joy Reid began regularly posting to Substack in March, after her MSNBC show was canceled. On Friday, the former CNN anchor Don Lemon joined Substack after a year of livestreaming on YouTube. They join established chart-toppers, like Mehdi Hasan (the former MSNBC host) and Dan Rather (the onetime face of CBS News), along with various CNN expatriates: Norm Eisen, Jessica Yellin, Chris Cillizza, Elise Labott and Alisyn Camerota.

This new TV diaspora has one central proposition: The future of news is casual. Sometimes very casual. Anchors can lose their seats and still hold on to their star power, so long as they give modern audiences what they want. “What’s most important in my business now is authenticity,” as Fox News host-turned-YouTube star Megyn Kelly recently told The New York Times.

“Jim Acosta’s people do not really care if Jim Acosta is wearing pancake makeup or not,” said Molly Jong-Fast, who is both an MSNBC political analyst and a regular guest on Substack shows.

Last Wednesday, Mr. Acosta ended his 30-minute interview with Representative Jeffries by talking about college basketball. Then a small orange ball materialized in the host’s hand, delivered by his fetch-hungry beagle, Duke. His visible houseplants had been previously mocked on Fox News, to which Mr. Acosta soberly objected.

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Last month, on his birthday weekend, Don Lemon used his YouTube channel to stream himself having breakfast and lunch — both lasted nearly an hour — and a party, during which he sang parts of Kendrick Lamar’s “Not Like Us” into a karaoke microphone.

“People don’t really care if they’re in a coat and tie on the north lawn of the White House or in an air-conditioned studio in 30 Rock,” said Jeff Zucker, former president of CNN and former boss to several of these now-independent journalists. “They just want to hang out and hear from someone they like and trust.”

Katie Couric, who started an independent media company in 2017, has found the accelerated decline of linear television “at times upsetting,” she said: “I used to anchor the ‘CBS Evening News’ and ‘The Today Show,’ and I’m doing Instagram Lives now.”

Today, however, with a few dozen employees and a newsletter nearing one million subscribers, she more often feels legacy media is “late to the party.” Broadcasting on social media is “authenticity on steroids,” said Ms. Couric, who recently paused shopping for an Oscar’s party dress to livestream a breaking-news discussion on Ukraine, parking herself on the couch of a fashion brand’s showroom, wearing no makeup, she pointed out.

Mr. Lemon, who was ousted by CNN in 2023, a few months after making remarks about Nikki Haley’s age that were widely viewed as sexist, said he was courted almost immediately by Substack. Instead he agreed in 2024 to bring a new show to X with Elon Musk as his first interview guest.

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That interview grew tense, and when Mr. Musk subsequently canceled their $1.5 million deal, Mr. Lemon filed a lawsuit that is ongoing. (“It’s crazy that I am in litigation with the richest man in the world,” Mr. Lemon said, though he claimed to not think about it very often.)

In the meantime, Mr. Lemon grew his YouTube channel to more than 656,000 subscribers, uploading his own takes, “Lemon drops,” alongside interviews with the conservative podcaster Candace Owens and Representative Jasmine Crockett, a Democrat from Texas.

“At first, you’re frightened, like, ‘Oh no, I’m not on the big broadcast anymore,’” said Mr. Lemon, who initially recorded his YouTube videos from a pricey, professionally lit studio — “cable news lite,” he said — until he realized that the chatty bonus videos he filmed in his living room, with his barking dogs, were more positively received by subscribers.

“You don’t need all those things that you think you need,” he said.

In December, Mr. Lemon added a paid membership option to his YouTube channel, with options ranging from about $3 to $50 a month. A representative declined to disclose his membership numbers. But Mr. Lemon said the show is profitable, primarily through YouTube’s advertising revenue share. He also earns income through social media sponsorships and corporate speaking engagements that he said he wasn’t able to accept while working for CNN.

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Ms. Reid, who lost her MSNBC slot about a month ago, is still experiencing the “strange disconnect” of life without a television schedule and team of producers, she said.

She is “just tired,” she said, and working through her next steps, Ms. Reid said in an interview: “What do I want to do? What am I good at? What can I do to contribute to the world?” For now, she has landed on writing about democracy to an audience of about 118,000.

Mr. Acosta, whose subscribers surged after he encouraged CNN viewers in his sign-off message to not “bow down to a tyrant,” now ranks among Substack’s top 20 publishers in politics. Catherine Valentine, who recruits and wrangles these political and television personalities for Substack now calls this the “Jim Acosta model.”

Among his 287,000 total readers, Mr. Acosta has more than 10,000 paid subscribers, though he too declined to provide any specific financial figures. When asked in early March if he was approaching the $1 million mark in annualized revenue, Mr. Acosta laughed: “Are you writing a story, like, look at all these greedy broadcast journalists cashing in?” (He also answered: “I’m getting there.”)

Mr. Acosta has also been exploring additional content partnerships, like a podcasting deal, to augment his Substack presence. But he still speaks about Substack with the reverence of a former college radio host experimenting with “garage rock” — or at least a “model submarine enthusiast,” he said.

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“It feels like I’ve stumbled upon this really cool hobby that I wish I’d known about sooner, but I didn’t,” Mr. Acosta said. “And I don’t know if CNN would have allowed me to have a presence.” (One current CNN anchor, Jake Tapper, does use Substack, but more as a social media feed, reposting CNN clips.)

Some networks have tried to incorporate more of internet’s casual and chaotic offerings into their sleek lineups, as when ESPN acquired the freewheeling “Pat McAfee Show” or Fox News developed a show with “a signature podcast style” around Will Cain.

But many still place restrictions on their employees’ presence on platforms such as Substack, said Marc Paskin, a talent agent who represents journalists as co-head of news and broadcasting at United Talent Agency, where Mr. Lemon is a client.

“There has always been a fear of cannibalization of an audience,” Mr. Paskin said. “The truth of matter is that these things should be viewed as partners.”

Until 2026, Mr. Lemon still has a contract in place with CNN that limits his broadcasting opportunities with competitors. Will he return to television then? Maybe if someone made him a “great offer,” he said. But maybe not.

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“The longer I do this, the more satisfying it becomes, the more profitable it becomes and I start loving it more,” he said. “I think the folks who are in legacy media now are going to have to figure out what we’re doing over here.”

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Supreme Court urged to block California laws requiring companies to disclose climate impacts

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Supreme Court urged to block California laws requiring companies to disclose climate impacts

The U.S. Chamber of Commerce and other business groups urged the Supreme Court on Friday to block new California laws that will require thousands of companies to disclose their emissions and their impacts on climate change.

One of the laws is due to take effect on Jan. 1, and the emergency appeal asks the court to put it on hold temporarily.

Their lawyers argue the measures violate the 1st Amendment because the state would be forcing companies to speak on its preferred topic.

“In less than eight weeks, California will compel thousands of companies across the nation to speak on the deeply controversial topic of climate change,” they said in an appeal that also spoke for the California Chamber of Commerce and the Los Angeles County Business Federation.

They say the two new laws would require companies to disclose the “climate-related risks” they foresee and how their operations and emissions contribute to climate change.

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“Both laws are part of California’s open campaign to force companies into the public debate on climate issues and pressure them to alter their behavior,” they said. Their aim, according to their sponsors, is to “make sure that the public actually knows who’s green and who isn’t.”

One law, Senate Bill 261, will require several thousand companies that do business in California to assess their “climate-related financial risk” and how they may reduce that risk. A second measure, SB 253, which applies to larger companies, requires them to assess and disclose their emissions and how their operations could affect the climate.

The appeal argues these laws amount to unconstitutional compelled speech.

“No state may violate 1st Amendment rights to set climate policy for the Nation. Compelled-speech laws are presumptively unconstitutional — especially where, as here, they dictate a value-laden script on a controversial subject such as climate change,” they argue.

Officials with the California Air Resources Board, whose chair Lauren Sanchez was named as defendant, said the agency does not comment on pending litigation.

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The first-in-the-nation carbon disclosure laws were widely celebrated by environmental advocates at the time of their passage, with the nonprofit California Environmental Voters describing them as a “game-changer not just for our state but for the entire world.”

Sen. Scott Wiener (D-San Francisco), who authored SB 253, said at the time that the laws were “a simple but powerful tool in the fight to tackle climate change.”

“When corporations are transparent about the full scope of their emissions, they have the tools and incentives to tackle them,” Wiener said.

Michael Gerrard, a climate-change legal expert at Columbia University, described Friday’s motion as “the latest example of businesses and conservatives weaponizing the 1st Amendment.” He pointed to the Citizens United case, which said businesses have a free speech right to unlimited campaign contributions, as another example.

“Exxon tried and failed to use this argument in 2022 when it attempted to block an investigation by the Massachusetts Attorney General into whether it misled consumers and investors about the risks of climate change,” he said in an email. “Exxon claimed this investigation violated its First Amendment rights; the Massachusetts courts rejected this attempt.”

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Under the Biden administration, the Securities and Exchange Commission adopted similar climate-change disclosure rules. Companies would have been required to disclose the impact of climate change on their business and what they intended to do to mitigate the risk.

But the Chamber of Commerce sued and won a lower court ruling that blocked those rules.

And in March, Trump appointees said the SEC would retreat and not defend the “costly and unnecessarily intrusive climate-change disclosure rules.”

The emergency appeal challenging California’s disclosure laws was filed by Washington attorney Eugene Scalia, a son of the late Justice Antonin Scalia.

The companies have tried and failed to persuade judges in California to block the measures. Exxon Mobil filed a suit in Sacramento, while the Chamber of Commerce sued in Los Angeles.

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In August, U.S. District Judge Otis Wright II in Los Angeles refused to block the laws on the grounds they “regulate commercial speech,” which gets less protection under the 1st Amendment. He said businesses are routinely required to disclose financial data and factual information on their operations.

The business lawyers said they had appealed to the U.S. 9th Circuit Court of Appeals asking for an injunction, but no action has been taken.

Shortly after the chamber’s appeal was filed, state attorneys for Iowa and 24 other Republican-leaning states joined in support. They said they “strongly oppose this radical green speech mandate that California seeks to impose on companies.”

The justices are likely to ask for a response next week from California’s state attorneys before acting on the appeal.

Savage reported from Washington, D.C., Smith from Los Angeles.

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Warner Bros. Discovery modifies David Zaslav’s employment contract — again

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Warner Bros. Discovery modifies David Zaslav’s employment contract — again

Warner Bros. Discovery has modified Chief Executive David Zaslav’s contract for a second time this year to prepare for the company’s proposed breakup.

This month’s alterations were outlined in an SEC filing on Thursday — a week before initial bids are due in the Warner Bros. Discovery auction. Industry sources expect Paramount, Comcast and Netflix to make offers for the embattled entertainment company that owns HBO, CNN, Food Network and the storied Warner Bros. movie and television studios.

Warner Bros. Discovery declined to comment.

The sale kicked off in September when David Ellison-led Paramount made an unsolicited offer for Warner Bros. Discovery — a month after Ellison and RedBird Capital Partners had acquired Paramount from the Redstone family in an $8-billion deal. The company since has made at least three bids — but all were unanimously rejected by the Warner Bros. Discovery board, which viewed them as too low.

Paramount’s most recent solicitation for Warner Bros. Discovery was for $23.50 per share, which would value the company at about $58 billion.

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The external jockeying for Warner Bros. Discovery set the stage for Zaslav and the Warner board to amend his employment agreement. The contract was revised Nov. 7 to clarify that various spin-off configurations would result in the same incentives for Zaslav.

Previously, his contract was amended to outline his compensation and incentives should the Warner Bros. studios and HBO Max spin off from the parent company, as envisioned when Warner announced its breakup plans in June. At the time, Zaslav planned to stay on to run the studios and streaming company, which would be called Warner Bros. in a nod to its historic roots and the pioneering days of the movie industry.

The plan was for the company’s two dozen cable networks, including CNN, TNT, Animal Planet and TLC, to remain behind and the company renamed Discovery Global.

The company is forging ahead with its breakup plans. However, it now plans to spin off the cable channels (Discovery Global) and keep the studios, HBO and the HBO Max streaming service as the surviving corporate entity (Warner Bros.).

“The amendment clarifies that if the separation is achieved by retaining Warner Bros. and spinning off Discovery Global (a ‘Reverse Spinoff’) rather than spinning off Warner Bros. … the Reverse Spinoff will be treated in the same manner … for all purposes of the Zaslav arrangements,” the filing said.

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Previously, the company had envisioned that the split would be complete by Dec. 31, 2026. But a full-blown auction could upset those plans — and the transaction could close at a later date.

Zaslav’s contract was modified to extend his employment through December 2030. Previously, his contract was set to expire in December 2027.

“This extension is intended to secure Mr. Zaslav’s leadership of WBD for the same period that we had contracted to have him serve as the chief executive officer of Warner Bros. following a separation,” the filing said.

The Wall Street Journal was the first to report that nonbinding preliminary bids for the company are due Nov. 20.

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Economic angst forces L.A. shoppers to find ways to spend less for the holidays

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Economic angst forces L.A. shoppers to find ways to spend less for the holidays

Shoppers in Los Angeles are turning to more affordable brands, seeking deals and making their own presents to save money this holiday season, as many tighten their purse strings in anticipation of a weak economy.

The average projected holiday spend by Los Angeles shoppers was $1,627, according to Deloitte’s 2025 holiday retail survey. That’s above the national average but a 14% dip from 2024.

“What we’re hearing is that shoppers here in the L.A. metro area — and nationwide — are feeling uncertain about where the economy is headed,” said Rebecca Lohrey, Deloitte audit and assurance partner.

Californians have struggled more than residents of most other states with the stubbornly high price of housing. At the same time, the often-changing tariff regime coming out of Washington has consumers concerned that prices will continue to rise.

Widespread and high-profile job cuts in the tech industry, which has for decades been one of the state’s most reliable employers, have also helped shake consumer confidence. Some consumers surveyed by KPMG earlier in the year had planned to spend more this holiday season, in part, to get ahead of inflation.

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Three-quarters of the shoppers surveyed expect higher prices on holiday goods, and 62% of Los Angeles shoppers expect the economy to weaken in the year ahead, nearly twice as many as a year earlier.

“L.A. shoppers are more likely to hunt for deals, give homemade gifts, reuse wrapping and use tools like social media and AI to plan their purchases,” Lohrey said. “Even with tighter budgets, they’re finding smart, creative ways to make the season joyful without overspending.”

Tariffs, inflation and geopolitical shifts are causing severe economic uncertainty for consumers.

Nationally, 57% of those surveyed expected the U.S. economy to weaken in the next six months, the most negative outlook since Deloitte started tracking economic sentiment in 1997.

This echoes what big box retailers and consumer goods giants have been saying. In August, Walmart said that as it replenishes inventory at tariff prices, it has continued to see costs increase each week, which it expects to continue through the end of the year. PepsiCo said it was introducing products at a cheaper price as consumer budgets remain constrained.

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“Not surprisingly, we see more adjustments in middle- and lower-income households than we do with higher-income households,” Douglas McMillon, Walmart’s chief executive, said in an earnings call.

With consumers becoming more value-conscious, the Deloitte survey found that 88% of L.A. shoppers are seeking deals, and 78% are opting for affordable brands and retailers.

This has also meant that about 35% of L.A. shoppers plan on turning to generative AI tools to compare and find the best deals and generate shopping lists.

Consumer price inflation in Los Angeles stood at 3.5% in September compared with the previous year, higher than the national average of 3%, according to the Bureau of Labor Statistics.

With price increases, 6 in 10 local shoppers are turning to gift cards instead of gifts this holiday season, willing to spend an average of $268 on the cards.

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Clothing and accessories are the top categories for those L.A. shoppers who say they’ll self-gift this year.

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