Disney Ex-CEO Bob Iger Buys LA Lakers

A group led by former Disney CEO Bob Iger and investor Joshua Kushner has agreed to buy a controlling interest in the Los Angeles Lakers from Mark Walter in a deal valuing the NBA franchise at about $12.5 billion, the highest price ever paid for a sports team.

The agreement, confirmed by people familiar with the matter, marks a sharp rise from the $10 billion valuation when Walter purchased a majority stake from the Buss family last year. That earlier sale had itself set a record, coming only months after the Boston Celtics sold for $6.1 billion.Walter, the 66-year-old CEO of Guggenheim Partners who also owns the Los Angeles Dodgers and holds a stake in Chelsea FC, is the subject of a federal investigation into whether private-credit deals involving his companies amounted to fraud. 

His businesses have denied wrongdoing. The probe has put pressure on his financial empire and helps explain the rapid decision to sell the Lakers less than a year after acquiring them.

In a statement, Walter said: “Owning the Los Angeles Lakers has been one of the great honors of my life. It has been an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”

When Walter bought the team in June 2025, the NBA stipulated that Jeanie Buss, daughter of longtime owner Jerry Buss, would remain the controlling governor for at least five years. The Buss family had controlled the franchise since 1979 and retains a minority stake.

Iger, 75, a well-known basketball fan and courtside regular at Lakers and Clippers games, previously worked closely with NBA Commissioner Adam Silver while running Disney, the league’s broadcast partner. He also serves as an adviser to Kushner’s Thrive Capital, the firm backing the purchase.

Decoy Flight Raises Press Safety Concerns

White House Correspondents’ Association President Jacqui Heinrich met Tuesday with senior Trump administration officials to address press safety concerns after a July decoy Air Force One operation left journalists and some presidential staff behind amid an Iran assassination threat.

In a memo to WHCA members, Heinrich, a Fox News journalist, described the afternoon meeting as “candid and productive.” She said she recognized the Secret Service’s “paramount responsibility” to protect the president and that genuine threats can require extraordinary measures that limit real-time information to reporters. 

At the same time, she “advocated strongly for the importance of maintaining independent press coverage of the president and an accurate historical record of his movements.”

The discussion, prompted by Washington Post reporting confirmed Monday, focused on press safety, the press pool’s ability to maintain an independent record of the president’s movements, and the integrity of pooled reporting. Heinrich warned that undermining confidence in pool reports “carries risks beyond any single incident,” noting that in a “conspiratorial information environment,” such uncertainty can be exploited by bad actors to sow confusion and erode trust in journalism.

The July incident occurred as President Trump left the NATO Summit in Turkey. He boarded Air Force One, then covertly exited in a catering truck to board another aircraft, leaving members of the press and some staff unwittingly behind on the original plane.

CA A-G Says Paramount Threats Won't Work

California Attorney General Rob Bonta on Tuesday accused Paramount of attempting to “blackmail the state” with a reported threat to relocate operations out of California, declaring that the tactic “won’t work” as the company continues to lose ground in court. Bonta, who is leading a 12-state coalition’s antitrust lawsuit seeking to block Paramount’s roughly $110 billion acquisition of Warner Bros. Discovery, responded directly to reports that Paramount CEO David Ellison told senior executives last week the company would begin exiting California as early as Oct. 1 unless Bonta agrees to settlement talks. 

“In a span of weeks, Paramount agreed to halt the merger until a court decision or until June 2027, asked for a November trial, and is now back with another attempt to blackmail the state into letting an illegal deal through,” Bonta wrote in a post on X. 

“Paramount has lost the plot as it continues to lose in court. It didn’t work the first time — on the eve of our July lawsuit — and it won’t work this time.” 

According to reports confirmed by multiple outlets, Ellison informed Paramount’s 12-member senior executive team during an Aug. 5 meeting on the studio lot that the board has approved a possible relocation. 

Newsmax Plans To Sue FCC Over Cap Vote

Newsmax is preparing to sue the Federal Communications Commission over its recent vote to scrap a decades-old limit on how many broadcast television stations one company can own, the cable network’s CEO confirmed Tuesday.

In a phone interview with The Desk, Newsmax chief executive Christopher Ruddy said the company will follow through on its earlier threat to litigate once the FCC formally codifies the decision next month. 

The eliminated rule barred any single broadcaster from owning local TV stations that collectively reach more than 39 percent of the national viewing audience. FCC Chairman Brendan Carr backed the repeal, arguing it would let traditional broadcasters compete more effectively against streaming platforms and continue investing in local news. 

The commission approved the change on a party-line vote, with Carr and Republican Commissioner Olivia Trusty in favor and the sole Democrat, Anna Gomez, opposed. 

Two seats on the five-member agency have remained vacant for more than a year. 

Ruddy called the action “a blatant violation of federal law,” insisting that Congress, not the FCC, set the ownership cap and that nearly every previous FCC chairman had recognized that limit. 

San Fran Radio: Lamont Hollywood Doesn't Go Quietly

Lamont Hollywood, co-host of the popular Bay Area radio show “Lamont and Tonelli,” has ended his career at 107.7 “The Bone” after 37 years, blaming corporate restructuring and severe cutbacks at parent company Cumulus.

In a Facebook statement, Hollywood said the time had come to step away from the microphone. “Due to corporate restructuring and severe cutbacks at Cumulus, my chapter on these airwaves is coming to an end,” he wrote. He described the layoffs as a “tragic consequence of debt-fueled media consolidation.”

Radio Streaming Peaks In The Evening

Streaming now accounts for 14% of all AM/FM radio listening time among U.S. adults 18 and older, double the share recorded a decade ago.

Edison Research’s Share of Ear data for the second quarter of 2026 shows streaming’s portion of total AM/FM listening climbed from 7% in the second quarter of 2017 to 14% today. Among adults who listen to AM/FM radio every day, 10% consume both the traditional over-the-air signal and a stream, while 6% listen exclusively via streaming.

The streaming share fluctuates throughout the day and is highest in the evening. On weekdays in Q2 2026, streaming represented 17% to 18% of AM/FM listening minutes between 8 p.m. and 11 p.m.—the peak period—and reached 17% again during the 8 a.m. hour. It dropped to a daily low of 8% between 11 a.m. and noon. 

Former KGO Talk Host Loses Bankruptcy Case

A federal bankruptcy court has dismissed the Chapter 11 case of former KGO Radio host Ronn Owens and his wife, Elizabeth Naylor, and barred them from filing a new bankruptcy petition for at least two years after finding that more than $130,000 in GoFundMe donations solicited amid Owens’ cancer diagnosis were largely spent on non-medical expenses.

Chief U.S. Bankruptcy Judge Madeleine Wanslee issued the ruling earlier this month in Phoenix. The decision followed an examination by the U.S. Trustee Program of more than 18 months of the couple’s financial records, including transfers of $132,480 in GoFundMe proceeds into a Bank of America account.

Of that total, only about $17,000 went toward medical-related bills. The remaining $118,898 covered other costs: more than $61,600 in mortgage payments, nearly $44,400 in capital contributions to companies owned by Owens, plus travel, subscriptions, cash gifts to their child, and other discretionary spending, according to the trustee.

Philly Radio: WIP Nixes Eagles Sideline Reporter

Eagles radio broadcasts on 94.1 WIP will lack a dedicated sideline reporter this season for the first time in more than 15 years, though longtime announcers Merrill Reese and Mike Quick return for their 29th season together in the booth.

WIP is adopting a more limited role in the broadcast, with Reese and Quick turning to another station personality for updates as needed. Eliot Shorr-Parks, the station’s Eagles beat reporter since 2018, is expected to serve as the primary voice for those updates, though others could contribute. Shorr-Parks will deliver a pregame report from the sideline ahead of Saturday’s preseason game against the Baltimore Ravens.

“The rest of the role is still TBD,” said David Helm, a spokesperson for WIP’s parent company, Audacy.Devan Kaney, the sideline reporter last season and during the Eagles’ Super Bowl LIX run, was laid off by WIP in March amid company-wide cutbacks by Audacy. She had joined the station in 2022 as an on-air personality and regularly cohosted the morning show with Joe DeCamara and Jon Ritchie. 

Good Morning! Here's The Pulse For Wednesday, Aug 12

Radio Broadcasting

Radio Streaming: Streaming now accounts for 14% of all AM/FM radio listening time among U.S. adults 18 and older, double the share recorded a decade ago.

WIP Trim Eagles Coverage: Eagles radio broadcasts on 94.1 WIP will lack a dedicated sideline reporter this season for the first time in more than 15 years, though longtime announcers Merrill Reese and Mike Quick return for their 29th season together in the booth.

KGO Talker Loses Court Battle: A federal bankruptcy court has dismissed the Chapter 11 case of former KGO Radio host Ronn Owens and his wife, Elizabeth Naylor, and barred them from filing a new bankruptcy petition for at least two years after finding that more than $130,000 in GoFundMe donations solicited amid Owens’ cancer diagnosis were largely spent on non-medical expenses.

Disney+ To Stream Formula E Races

Disney has signed a multiyear global streaming deal to bring Formula E races exclusively to Disney+ and ESPN+ in the United States and to Disney+ in most international markets, starting with the 2026-27 season in December. 

The agreement covers live coverage of all Formula E race weekends—including practice, qualifying, races, previews, reviews, and highlights—across 144 territories. In the U.S., events will stream on both Disney+ and ESPN+ (part of ESPN’s streaming offerings); internationally, they will primarily appear on Disney+. The deal complements Formula E’s existing free-to-air and linear broadcast partnerships rather than replacing them. The partnership launches as Formula E enters its Gen4 era, featuring the championship’s most advanced and powerful electric cars to date. 

CBS Sports Keeping Tony Romo On the Bench

CBS Sports is keeping Tony Romo on leave indefinitely with no timetable for a decision on his future as the network’s top NFL analyst, President David Berson said Tuesday.

Speaking at the “NFL on CBS” Media Day previewing the 2026 season, Berson said Romo’s status has not changed since the network placed him on leave “until further notice” on July 31. “It’s an evolving situation and we are still assessing,” Berson said. “There is no timetable or final decision at this time.” 

He added that the matter is personal and legal for Romo and asked for respect on that front.

Romo, 46, was arrested July 23 in Wisconsin and charged with operating while intoxicated, a traffic violation rather than a criminal charge that carries fines of up to $1,568.50. CBS acted after additional details of the arrest emerged. 

Radio History: Aug 12

Thomas A Edison

➦In 1877...Thomas A Edison gave the first public demonstration of his invention:  the phonograph.

The phonograph, also called gramophone,  is a device introduced in 1877 for the recording and reproduction of sound recordings. The sound vibration waveforms are preserved in the form of a groove engraved into the surface of a rotating cylinder or disc. As the recorded surface rotates, a playback stylus traces the waveforms and vibrates to reproduce the recorded sound waves.

While other inventors had produced devices that could record sounds, Edison's phonograph was the first to be able to reproduce the recorded sound. His phonograph originally recorded sound onto a tinfoil sheet phonograph cylinder, and could both record and reproduce sounds. Alexander Graham Bell's Volta Laboratory made several improvements in the 1880s, including the use of wax-coated cardboard cylinders, and a cutting stylus that moved from side to side in a "zig zag" pattern across the record.

In the 1890s, Emile Berliner initiated the transition from phonograph cylinders to flat discs with a spiral groove running from the periphery to near the center. Other improvements were made throughout the years, including modifications to the turntable and its drive system, the stylus or needle, and the sound and equalization systems.

The disc phonograph record was the dominant audio recording format throughout most of the 20th century. From the mid-1980s, phonograph use declined sharply because of the rise of the compact disc and other digital recording formats. While no longer mass-market items, modest numbers of phonographs and phonograph records continue to be produced in the second decade of the 21st century.

➦In 1925...KMA-AM in Shenandoah IA begins radio transmissions.

USA Today Co. Employees Want End To New Palantir Partnership

More than 800 unionized USA Today Co. employees are demanding the company immediately end its newly announced partnership with data analytics firm Palantir, citing significant ethical concerns and an inherent conflict of interest. 

In a joint statement released Monday by 31 NewsGuild-CWA-represented newsrooms, the workers—most of them journalists—said the deal threatens reader trust, raises serious questions about data security, and clashes with journalistic principles. 

“While USA Today Co. CEO Mike Reed championed this partnership as a way to drive revenue, we believe it threatens to undermine trust in our news outlets and raises serious questions about the data security of our readers,” the statement reads. 

“We have significant ethical issues with Palantir, whose artificial intelligence software has been used to advance widespread surveillance and power immigration crackdowns.”