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Dementia affecting younger persons strikes Hispanics more than previously thought, UT Health San Antonio-led study shows
Educational disparities contribute to diagnostic delays of frontotemporal dementia Contact: Steven Lee, (210) 450-3823, lees22@uthscsa.edu SAN ANTONIO, July 27, 2026 – A form of dementia that strikes younger people is more common in Hispanics than previously thought, according to a new study led by researchers at UT Health San Antonio, the academic health center of […]
Baldur's Gate 3 True Third-Person Camera Mod Goes Viral, Sparks Debate About Whether It Erases the Game's Identity
Baldur’s Gate 3 might be three years old, but it’s still the subject of much debate — and many new mods. One mod in particular has gone viral, leading some fans to say developer Larian should keep it in mind for its future games. Others, though, believe using it to play Baldur’s Gate 3 essentially amounts to heresy.
5️⃣ transfers that collapsed at the last minute ❌
Like Yan Diomandé’s move to PSG, which fell through even though everything seemed almost in place for it to go through, others have also collapsed at the very last moments of the transfer window.So...
German Business Sentiment Improves, Shrugging Off Middle East Uncertainties
Confidence among firms picked up a little this month, though the roller-coaster ride of oil prices in recent weeks suggested the recovery could be fragile.
What England's local councils tell us about fragmenting politics
Even the most ardent advocate for local democracy would concede that council chambers are not always the most exciting places. Subscribe Whether it’s planning meetings, motions or resolutions, you’d be forgiven for switching off. Unless it’s lockdown and we’re talking about standing orders, of course. Remember Jackie Weaver, who infamously “had no authority here” at a chaotic parish council Zoom call in 2021? Yet, as a general rule since then, council meetings rarely make the headlines beyond local papers and news websites. Reform’s success After Reform’s stunning success at the local elections in May though, the leader of the party’s group on Kirklees Council suddenly found she’d gone viral online for admitting that she didn’t actually understand council procedures. “I don’t understand the constitution”, Councillor Sarah Wood, pictured above, told the council chamber. “I have not had sufficient time to read that as yet. I don’t understand what standing orders are, what they’re made up of, nor do I understand what an amendment is.” Share Channel 4 News Councillor Wood later defended her comments to the BBC, and said that “new councillors and not just us, are coming from jobs”. She claimed that the sharing of the clip mocking her online was an example of “Reform-bashing”. She added: “Yes, we need to know procedures. Yes we need to do the homework. And we have addressed that now and we have put that right.” So, with standing orders getting another moment in the spotlight, not to mention the fracturing and fragmentation from May’s results, we set out to find out how new councillors are doing across England in this new political landscape. New political landscape Where better to start then than Kirklees, in West Yorkshire. Reform is the largest party, the council is under no overall control and has chosen a new leader - Sarah Wood - after two failed attempts to elect one. It is difficult to secure interviews with new Reform councillors, but John Hardie, pictured below, told us it’s been a “whirlwind” since being elected in May. He represents the Dalton ward and told us the party’s lack of political experience hasn’t been a hindrance. “We’ve come with lots of experience, lots of business experience and life experience, and it’s been good, actually, too. And to mix with other councillors who have been in the political world, and we can learn from each other.” Indeed, more parties are now having a say than ever before. In Manchester, the Green Party followed up their victory in the parliamentary by-election in Gorton and Denton by gaining 17 seats on the city council. That makes them the official opposition to Labour, who have long dominated Manchester City Council. [ ](https://channel4news.substack.com/p/how-landmark-green-by-election-win) [ How landmark Green by-election win could change British politics ](https://channel4news.substack.com/p/how-landmark-green-by-election-win) Krishnan Guru-Murthy · Feb 27 [ Read full story ](https://channel4news.substack.com/p/how-landmark-green-by-election-win) Thirza Amina Asanga-Rae, pictured below, is one of those new councillors, representing Moss Side. We asked her how being the official opposition can make a difference. She said: “I think even the fact that we’ve made history in what we’ve done, it’s been a 50-year stronghold of Labour in Manchester, and now that we’ve broken that and chipped in that, there’s real hope that we can not only run the council in the future, but currently hold them to account. So, I think that’s powerful. It’s just going to help shape and build what I call the green wave.” The reality, though, is that several newly elected councillors across the country have already left their roles through resignations, suspensions or defections. ‘It’s a slog’ Asanga-Rae adds: “It’s a job, it’s a slog. Obviously, we’re going through hard times. Austerity is real. We’re talking about food, child poverty, furniture poverty. The list is endless, and I think people who come into a councillor role need to be willing to help, really roll the sleeves up and get involved and help, and I think a lot of the career politicians, who think it’s the ‘la-di-da’ position, get in and realise I’m not going to do this work and bounce.” Share Although Manchester still has a clear majority, many councils, including Kirklees, are now under no overall control. That is perhaps the strongest sign of the political fragmentation we are seeing. Burnley is another example of this. Reform is now the largest party, yet they’re not part of the power-sharing coalition on this council - the Liberal Democrats and a local group of independents. Zulkernehn Hayat, pictured below, is part of The Independent Group. He represents Queensgate ward and told us all councils can benefit from having more independent councillors. ‘This is where I was brought up’ He said: “This is my home. This is Burnley. This is where I was brought up. Why do I need to get approval from somebody in a head office down south somewhere, you know? “This is my biggest argument. If okay, my neighbour comes to me with an issue, I can then take that straight to the council, because I don’t need to get approval from anywhere else. And this is the benefit of being independent.” So, while voters will always inevitably want quick results, perhaps spare a thought for the newly-elected councillors who are still navigating local government - one standing order at a time. 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Report: Lakers players believed LeBron James would sign with Warriors
According to a report, players on the Lakers internally thought LeBron James would sign with the Warriors.
Which Falcons Linebacker Room Addition Will Step Up in 2026?
The Atlanta Falcons had an eventful offseason, marked by staff changes, new additions, and the departure of several impact players from the last few seasons. As training camp continues, Atlanta has a multitude of questions to answer surrounding many positions, including quarterback, linebacker, and offensive tackle. Although the biggest question on Falcons fans' minds is who will start at QB, the linebacker position is anything but set in stone.
Universal Health Services (UHS) Stock Looks Undervalued As Shares Fell 29% YTD
Universal Health Services stock has slipped around 29.2% year to date, yet the valuation checks still lean toward the shares looking inexpensive on several fronts. This raises a clear question about whether the recent weakness lines up with the fundamentals. The roughly 29.2% decline year to date suggests sentiment has cooled sharply, even though longer term returns are less weak. For a healthcare operator like Universal Health Services, expectations around patient volumes and pricing can...
Giardi: Byard about business; plus, Campbell's offseason plan and a thought on PFF
Byard is fully invested, be it in individual drills, team periods, or even times when he’s on the sidelines, away from the action.
Who are Newcastle United (Part Two)?
This has been a difficult week, with thoughts very much dwelling on a pair of Newcastle United heroes. The loss of Kevin Keegan hit me like a ton of bricks.
Nintendo maintenance schedule - July 26, 2026 - lots of games downtime incoming
Nintendo has released its maintenance schedule for the week of July 26, 2026. The previously announced Nintendo Switch Online maintenance for next month is still on the docket. On top of that though, a new session has been added. Maintenance is kicking off in a few hours for a bunch of different Nintendo Switch games like Super Smash Bros. Ultimate,...
New Giants DC Leans Into Abdul Carter-Micah Parsons Comparisons
Dennard Wilson can see why Abdul Carter is the New York Giants' most valuable player. Wilson explained the comparisons between Carter and Micah Parsons, even though the Giants' edge "wants to be his own person." Carter had a disappointing rookie season, stat wise, with only four sacks in 17 games.
2 meteor showers peak on the same night this week — how to get the best views, despite a near-full moon
The Delta Aquariids peak on July 30-31, kicking off "meteor season," though bright moonlight will likely limit views.
Why it took so long to talk about perimenopause
For too long, women’s health was treated as an afterthought. We still haven’t caught up.
They thought they'd be retiring. They're grandparenting full time.
Vicki and Sal Parisella are among the many US grandparents sacrificing retirement and health to raise grandchildren and keep them out of foster care.
Trump Seems Trapped by Iran War, Even as He Wields the World’s Biggest Hammer
A president who thought there were no limits to his power has discovered several, leaving him more frustrated and erratic.
Carlos Ulberg Reacts to Magomed Ankalaev’s UFC Abu Dhabi Win
UFC light heavyweight champion Carlos Ulberg reacted to Magomed Ankalaev’s win at UFC Abu Dhabi over Bogdan Guskov.Ulberg was cageside when Ankalaev finished Guskov in the fifth round of their UFC Abu Dhabi main event. Although it wasn’t the most exciting fight to watch, it was no doubt a very dominant win by Ankalaev, who […] The post Carlos Ulberg Reacts to Magomed Ankalaev’s UFC Abu Dhabi Win appeared first on HEAVY.
Google Maps "2026 Update" Now Rolling Out, Also Available on Android Auto and CarPlay
Immersive navigation started showing up for more users, though the availability is limited to some region, most of them in the United States
Magomed Ankalaev Calls Out Next UFC Opponent
Former UFC light heavyweight champion Magomed Ankalaev called out his next opponent following his victory at UFC Abu Dhabi.Ankalaev defeated Bogdan Guskov via fifth-round TKO in what was a flawless victory at UFC Abu Dhabi. Though the fight wasn’t exactly exciting to watch, Ankalaev did what he needed to do to defeat Guskov and get […] The post Magomed Ankalaev Calls Out Next UFC Opponent appeared first on HEAVY.
Temporal Changes in Pediatric Influenza Test Positivity Across COVID-19 Public Health Policy Phases: A Five-Year Retrospective Cohort Study
Background The COVID-19 pandemic coincided with substantial changes in respiratory virus circulation, healthcare utilization, and diagnostic testing. Although population-level influenza activ...
Scotland's 3x3 wheelchair basketball teams kick-off with wins
Scotland men and women made a dream start to their respective 3x3 wheelchair basketball campaigns with an impressive victory. The men defeated South Africa 15-9 while the women breezed to a 16-1 win over Nigeria in the first of three group games. The women's 3x3 basketball team, though, endured a trickier day on court, but ended on a high, picking up their first victory of the Commonwealth Games against Singapore.
iPhone 18 won’t debut this fall, here’s why
We’re about two months away from Apple’s annual iPhone debut in September. This year, though, will be a bit different....
Red Sox Minor Lines: Kristian Campbell stays hot
Worcester: W, 6-5 (BOX SCORE) The WooSox now have 45 hits in their last three games. Although this game was close and the Jumbo Shrimp (Marlins AAA) were resilient, tagging every relief pitcher for runs in a bullpen game after Tyler Uberstine opened things up with a scoreless first, the WooSox simply just stayed one […]
Kaepernick, Springsteen receive new ACLU award for activism in arts, business, science and sports
Former NFL quarterback Colin Kaepernick received a new award from the American Civil Liberties Union recognizing contributions to American thought and culture.
Kaepernick, Springsteen receive new ACLU award for activism in arts, business, science and sports
Former NFL quarterback Colin Kaepernick received a new award from the American Civil Liberties Union recognizing contributions to American thought and culture.
Jim Cramer Discussed A Surprise For International Business Machines Corporation (NYSE:IBM) CEO
International Business Machines Corporation (NYSE:IBM) is another stock that Jim Cramer has continued to stick by, even though the shares have struggled. For more than a year, the CNBC TV host has repeatedly praised the firm for its software business and its quantum computing business. International Business Machines Corporation (NYSE:IBM)’s shares are down by 26% […]
'Fit Mom' Maria Kang reveals how stage 4 colon cancer changed her view of health
Maria Kang told Fox News Digital that she thought healthy eating and regular exercise would protect her — until a stage 4 colon cancer diagnosis revealed a different reality.
After backlash, Meta pauses plan to ‘rate limit’ its smart glasses
A paywall is still coming, though.
‘Reacher’ star Alan Ritchson seemingly slams Donald Trump in scathing Epstein files rant: ‘Go to jail!’
Alan Ritchson did not hold back when sharing his thoughts on the current state of American politics, giving a scathing rant about the handling of the Epstein files and the “f---ing rapists” in government.
Patriots All-Pro playmaker's strong reaction to DeAndre Hopkins' visit
Cornerback Marcus Jones shared his thoughts on DeAndre Hopkins potentially coaching for the Patriots.
Handled with care, AI can be miraculous
Although it has huge potential for harm, artificial intelligence is accelerating breakthroughs in science and medicine — but it can’t replace human imagination
Musiala expected to start individual training from end of July
Although Bayern Munich's pre-season training camp is on the horizon, Jamal Musiala will miss out having undergone another foot surgery.However, Kicker.de have outlined his return to play schedule, wit...
💣The Athletic: Real Madrid working to sign Rodri
Real Madrid are moving firmly ahead with their squad planning and are working on the assumption that Rodri Hernández will become their new signing during this transfer window. Although the boards of ...
A.J. Hinch Sends Message Following Tigers Comeback Win
Tigers Manager A.J. Hinch expresses his thoughts on the team after another tough win.
Why Europa's hidden ocean may be more difficult to reach than scientists thought
Europa, one of Jupiter's icy moons, has long fascinated scientists because of what may lie beneath its frozen shell: a global ocean of liquid water. That hidden ocean has made Europa one of the most compelling ...
Summer reading for teaching and school improvement: Harnessing the Science of Learning
When implemented thoughtfully, Science of Learning principles help educators focus their energy on what moves the needle for student learning
If PlayStation kills physical media, it should "get rid of the hardware" too, says the creator of popular RPG series Disgaea
Disgaea creator Sohei Niikawa has strong thoughts on Sony's planned move away from physical media.
When It Comes to Fusion, Materials Matter
Fusion at high temperatures powers the sun and, if harnessed, could provide a potential source of energy here on Earth. But controlling fusion reactions has other benefits. The process also generates subatomic particles called neutrons that are used in a range of applications spanning medicine, research, and national security. Now, scientists at the University of California, Davis (UC Davis), and the Department of Energy’s Lawrence Berkeley National Laboratory (Berkeley Lab) have found that the materials surrounding a fusion reaction can dramatically increase how often it occurs, particularly at low energies where fusion is rare. The study was published July 18 in Nature Communications. Their approach sets up a way to study and engineer nuclear reactions within solid materials, opening a new field of “materials-driven fusion.” Instead of designing materials just to survive the harsh conditions of fusion, researchers might be able to design materials that boost the reaction in specific conditions, similar to the way catalysts speed up chemical processes. “It gives you a new knob to turn that you didn’t have before,” said Arun Persaud, head of the Fusion Science & Ion Beam Technology group in Berkeley Lab’s Accelerator Technology & Applied Physics (ATAP) Division. “If we understand this effect better, it opens the door to engineering new materials that would affect the fusion rate under certain conditions. Someday future progress might enable more compact and efficient neutron generators, which have all kinds of applications, like cargo screening, planetary science, and medical therapy and imaging.” In the experiment, researchers used two different methods to pack deuterium, a heavy form of hydrogen atoms that is often used in fusion, into thin foils of palladium and titanium. They then fired a beam of deuterium ions at the foils at different energies and measured how often fusion happened. Then they compared the rates from the different materials and methods with the “bare” fusion reaction (not in a material). The team found that fusion rates depended on how the deuterium was loaded into the metal foils. The biggest effect was at the lowest energies, below 2.5 kiloelectronvolts (keV), where theory predicts fusion rates drop off sharply. Instead, researchers found a surprising plateau: Some samples showed elevated fusion rates roughly a quintillion times higher than bare fusion reactions. (A quintillion is a 1 followed by 18 zeroes.) Researchers are not exactly sure why that’s happening, though they have some ideas and ways to test them. The electrons and defects within the material might partially shield repulsive electrostatic forces between deuterium nuclei, making it easier for them to get close together and fuse. Tuning the electronic structure, defects, and composition of materials could help make nuclear reactions happen more readily. “It comes down to better understanding the mechanism so that we can try to enhance it,” said corresponding author Jeremy Munday, a professor at UC Davis. “We’ve seen that we can increase fusion rates, but what is the limit? Can we bring it to lower temperatures or energies? There’s obviously a lot of interest and excitement about fusion, so if there’s something we can learn about the physics at these lower energy scales, maybe there’s something we can translate to other areas of nuclear science.” The team plans to explore a wider range of materials and continue probing the unexpected fusion plateau at lower energies. Their work establishes a reproducible experimental platform to study how solid materials influence nuclear reactions, creating a new area of research that links fusion science with materials science and chemistry. “The work shows conclusively that the material environment where fusion occurs at low temperatures is an active participant rather than a passive container,” said Cameron Geddes, director of ATAP. “That adds a new dimension to fusion research.” This work was funded by the U.S. Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E). ### Lawrence Berkeley National Laboratory (Berkeley Lab) is committed to groundbreaking research focused on discovery science and solutions for abundant and reliable energy supplies. The lab’s expertise spans materials, chemistry, physics, biology, earth and environmental science, mathematics, and computing. Researchers from around the world rely on the lab’s world-class scientific facilities for their own pioneering research. Founded in 1931 on the belief that the biggest problems are best addressed by teams, Berkeley Lab and its scientists have been recognized with 17 Nobel Prizes. Berkeley Lab is a multiprogram national laboratory managed by the University of California for the U.S. Department of Energy’s Office of Science. DOE’s Office of Science is the single largest supporter of basic research in the physical sciences in the United States, and is working to address some of the most pressing challenges of our time. For more information, please visit energy.gov/science.
IOC drops Russia ban, but it might not be all good news for the Kremlin
Russia’s exile from international sports competition might be in the process of ending – though at a potential domestic political cost for Moscow.
Sacrificed Inca children died very differently than we thought, study finds
A new look at three children who died in the Inca human sacrifice ceremony known as Capacocha reveals their last few months and moments.
Three Atlanta Falcons Rookies Who Could Make an Immediate Impact
The Atlanta Falcons are coming off of an underwhelming 2025 season, finishing with an 8-9 record and falling just short of the playoffs. The Falcons and their new coaching staff looked to address holes and lack of depth at many positions including receiver, cornerback, and linebacker. Atlanta had six selections in this year's draft and although did not have a first round pick due to a trade with the Rams during the 2025 draft, selected three players that I believe could have an immediate impact.
Gossip: West Ham keen on Foxes defensive duo
West Ham are considering a move for Leicester City's English defender Ben Nelson with the Hammers hoping they can secure the 22-year-old for a cut-price fee following the Foxes relegation to League One. Football Insider) West Ham are also interested in Leicester City centre-back Harry Souttar, though they face competition from Wrexham for the 27-year-old Australia international. Daily Record) West Ham's French centre-back Jean-Clair Todibo, 26, is wanted by Juventus.
Science thought the human lifespan was 122 years. A new model says we could live decades longer.
A July 2026 paper published in the journal "npj Aging" suggests that humans may have the potential to live up to 156 years.
The Ocean Wave Scientists Thought Was Impossible
These massive walls of water may be far more common than we once believed.
Democrats could take initial vote on 2028 presidential primary calendar this week
Democrats could vote as early as this week on the order of their primary calendar for the 2028 presidential election, although the decision wouldn't be final until the full Democratic National Committee agrees.
Novant Health cutting some revenue cycle positions system-wide
Novant Health is cutting jobs across its health system, though the number of positions being eliminated has not been disclosed.
Novo Nordisk sues GLP-1 rival Eli Lilly over claims of false advertising
Novo Nordisk filed a lawsuit claiming Eli Lilly ran “false and materially misleading” advertisements that ignore recent data. According to Lilly, though, its message is "truthful" and "grounded in the most direct scientific evidence available."
Thoughts on Design: Design Evanston reviews indoor youth sports facility proposal
On July 1, Design Evanston professional members participated in a Project Review of the indoor youth sports facility proposed for 2722 Green Bay Road by
Xteink's Next Pocket-Sized E-Reader Could (Almost) Replace Your Kindle
The Xteink X4 Pro adds more premium features over earlier models—though it's still not for everyone.
Nintendo explains why it's coming out with Splatoon Raiders instead of Splatoon 4
Rather than releasing Splatoon 4, the next entry in the series is Splatoon Raiders. Nintendo recently explained why it chose to release that title now. After more than a decade or core Splatoon gameplay, producer Seita Inoue explained in a new interview that the team “thought it might be interesting to create something with a slightly different approach to gameplay,...
Iran may be stronger than we thought
Three US troops were killed in the past week, and the risks are only growing.
Locals continue to enjoy Curve entertainment
Even though the stadium is in Altoona, Bedford folks just can’t resist making the trip to watch the Curve team play baseball.
UFC Freedom 250 Fails to Knock Out The Ratings
(Welcome to my weekly streaming ratings report, the single best guide to what’s popular in streaming TV and what isn’t. I’m the Entertainment Strategy Guy, a former streaming executive who now analyzes business strategy in the entertainment industry. If you were forwarded this email, please subscribe to get these insights each week.) If UFC fans wanted one image to say, “Hey, Paramount+ is crushing it with their UFC rights deal,” I could provide that image. Here it is: (Reminder: this is my creation of the Nielsen Top 30, since Nielsen doesn’t combine the lists or include sports. I take all three lists and combine them. Some streaming TV shows probably have higher ratings than many of the films on this list.) Look at that! UFC Freedom 250 is number one! It topped the Nielsen “Top 30” list for shows and films that made the top ten the week of 15-June. So if you’re a UFC fan or supporter of Paramount+, that’s the good news for you this week. This program topped the ratings charts for one week. Everything else is bad news, or at least a huge caveat to that story, which I’ll explain today in the first part of this week’s Streaming Ratings Report—for the weeks of 8-June and 15-June—which is a double issue since I’ve been writing on a bunch of topics recently. UFC Freedom 250 is one of the biggest streaming events of the year, and super relevant to Paramount+’s strategy, so it merited its own article. Let’s dive in! (Reminder: The streaming ratings report focuses on the U.S. market and compiles data from Nielsen’s weekly top ten viewership ranks, Luminate’s Top Ten Data, JustWatch and Reelgood interest data, Samba TV household viewership, company datecdotes, Netflix hours viewed data, Google Trends, and IMDb to determine the most popular content. While most data points are current, Nielsen’s data covers the weeks of June 8th to June 21st 2026. You can find a link to my terminology here.) Subscribe Check Out My Interview on UFC 250 at MMA Draw After you read this article, if you want even more thoughts on UFC and Paramount-Skydance/Paramount+, I did a written interview with MMA Draw. They asked me to answer some questions about UFC Freedom 250, and I was happy to chat with them. Find it here: [ The MMA Draw Newsletter Did Paramount really overpay for the UFC? What the data tells us so far If you know the history of American television, you also know that combat sports is often a leading indicator of the future… Read more a day ago · 10 likes · 1 comment · Nate Wilcox and Zach Arnold ](https://www.themmadraw.com/p/did-paramount-really-overpay-for?utm_source=substack&utm_campaign=post_embed&utm_medium=web) I never thought I’d need a combat sports newsletter in my life, but the good folks at MMA Draw publish an excellent one on UFC, MMA, pro wrestling, boxing and more, analyzing both the sports themselves and the politics, economics and antitrust issues that impact them. Check the article and their newsletter out! Paramount+ Has Its Best Sporting Event of All Time…But Was It Worth It? Before we look at the UFC Freedom 250 data in particular, let’s talk about what we can’t say. Namely, let’s start with the lack of comparisons. First off, I’d love to put a chart out comparing this fight to past UFC fights on Paramount+…but we don’t have the data. This is the first time we’ve gotten Nielsen data about a Paramount+ UFC fight. As far as I can tell, Paramount provided data for the first fight, but it was a proprietary datecdote (saying it had “an average minute audience” of 5 million “views”) and then, for two fights, we got the linear viewership numbers when they aired on CBS, but no streaming data. Everything else was crickets. We also can’t compare this fight to other fights/combat sports on streaming, in particular the MMA and boxing, because Netflix also didn’t use Nielsen to track those events, opting for TVision and VideoAmp, respectively. (This isn’t Paramount’s fault, but does still suck.) We also can’t compare to UFC’s fights that used to be on ESPN+, since we don’t have any data for that, plus Disney+ didn’t have marquee fights. The comparisons would not be apples-to-apples. Can we compare to past Pay-Per-View fights? Absolutely not. The comparisons would absolutely NOT be apples-to-apples. That didn’t stop Paramount+, though, who bragged that their UFC events have reached drastically more people than past PPV fights. Duh. Sorry, but I gotta make this point again. A basic tenet of economics is that the cheaper something becomes, the more people consume or buy it. That’s Econ 101. (Sometimes pundits call things “Econ 101” that are actually like Econ 210 or even PhD-level economics, but no, this is really like first or second class basic economics.) Yet I still see one analytics firm consistently say that more people watch films on streaming than PVOD proves streaming which means that the streaming window is more valuable than the PVOD window. No, it’s not! Same thing here. Pay-Per-View events back in the day could be really, really, really expensive! So whole groups of people pitched in to buy them. That increased the perceived value of, say, the Mike Tyson fight. Or a UFC numbered event. So yes, the fact that Paramount+ makes numbered UFC fights essentially “free” if you’re already a Paramount+ member means consumption will go up. Obviously. Same for Netflix and their boxing matches. They’re talking about fights that used to cost consumers, in some cases, $50 in 1996…which is over $100 in today’s dollars. Over 1.6 million people paid that to watch the Tyson-Holyfield fight! Again, streaming is essentially “free”. Or $10 to $20, depending on what streamer we’re talking about and what tier you’re on. No wonder more people are “watching”. (Plus, Nielsen’s out-of-home viewing also helps these numbers.) UFC Freedom 250 Did Well…But I Have A Lot of Worries So what can we compare the fights to? Well, the good news is Nielsen put out that the fight averaged 7.0 million viewers for UFC Freedom 250, which is a solid number for a fight. We also know the length, at roughly 4 and a half hours. (I saw different run times, but this seems to be the consensus considering it started at 8 pm, had a delay and then finished after midnight on the East Coast. If you assume a shorter run time, then yes, the total hours viewed would go down.) That means I have the two numbers needed to add this to my Nielsen database. And then…I can compare this viewership to the NFL: And, uh, not great. But also within striking distance, mainly because the runtime for this event was so long. I’d also add that this event had viewership equal to a regular season NFL game on streaming, but if anything, it was more comparable to an NFL playoff or Super Bowl-esque event. And you can compare viewership to the top football games on broadcast, cable and streaming, and it’s not impressive at all: We can also compare it to other sports that week, including the NBA Finals and start of the World Cup: Again, not great. The NBA generated roughly four times as many average viewers each game for its NBA Finals. The World Cup has similarly big numbers. Also, that’s just a tiny fraction of the 25 most watched sporting events each week. The NBA, NHL and FIFA World Cup had many, many more games racking up hours. We could also compare this to other streaming programs to get an idea of “is this a good investment?” and here is how it ranks compared to other top Paramount+ programs: The worry here? Well, unlike scripted programming, which has rewatchability, older fights/sporting events have very little library value. Very, very few people are rewatching these fights, especially years from now. Paramount has also released datecdotes bragging about their subscriber numbers. Earlier this year, they claimed that the first UFC fight on Paramount+ brought in 1 million subscribers. Then, in their quarterly earnings report, they only ended up with 700K subs. Not great! They claimed they dropped lower-value international subscribers, but that’s why I tend to discount subscriber additions when they’re leaked to the press.1 I expect we may see a bump again for UFC Freedom 250, but I’d caution using subscriber growth so soon after these events to judge the success, since new subs with high churn (see Peacock) aren’t great either. Also, analysts often want to attribute all subscriber growth to their favorite/pet show, and that just doesn’t make sense. The biggest caveat for UFC Freedom 250 and Paramount’s very first UFC marquee event is that these could be high watermarks for the sport. UFC Freedom 250 had an incredible amount of earned media coverage compared to most UFC fights. I mean, it had wall-to-wall national news coverage in the lead up to the event. (The first fight also had a lot of promotion from Paramount since it was first.) Other fights could reach this bar—say the Conor McGregor return to the Octagon—but they’ll be fewer and far between. Was This Deal Worth It? All to ask: is this Paramount deal worth it? In this case, I think the UFC Freedom 250 numbers are more distracting than helpful. This fight did well and compares well to other top sporting events. But we know that the first marquee event was at least a third smaller, if Paramount’s own data is to be believed. And it’s likely the other fights are much, much, much smaller. And then you get to the paycheck that Paramount-Skydance paid. FIFA’s World Cup cost about the same for Fox, but clearly generated multiples more total viewership. (Though it’s only every four years.) The NBA is much more expensive, but until the playoffs, they likely didn’t pay for itself. Even still, Disney, NBCUniversal and Amazon Prime Video likely overpaid. So, in that context, the NBA may be an overpay that makes the UFC look not so bad. But two overpays don’t make an underpay, to paraphrase the old cliché about wrongs and rights. And looking at UFC Freedom 250 as the likely ceiling of MMA on Paramount+, Paramount-Skydance likely paid too much. Share 1 I would love regular reports on subscriber additions by programs, but as is, it’s mostly leaked or rumored in haphazard ways.
I Tried 2 Budget Smart Telescopes: How They Make the Stars Your New Hobby
Getting an affordable smart telescope, like the Dwarf Mini or Seestar S30, is easier and more rewarding than I thought.
Modern Warfare 4 gameplay debut reignites community debate about how fast Call of Duty movement should be
Though many would argue it wasn't the best format, Infinity Ward finally showed off Modern Warfare 4 gameplay, and it's clear not everyone is on board.
Shaky political "science": breakdown of the peer review process
[This article is the latest in our “Shaky Political Science” series. In our 38 page report, “Shaky political ‘science’ misses mark on ranked choice voting,” released in December 2025, we examined over 40 studies focused on ranked choice voting (RCV). Many of these studies suffered from puzzling research methodologies, poorly constructed surveys, unrealistic simulated elections, cherry picked data and faulty analyses that often were contradicted by results from real-world elections (a link to our full paper is here). Here are links to the first four articles in our series: the first one summarizing the overall results of our report; the second one analyzed a study co-authored by University of Minnesota academic Larry Jacobs, which was one of the most error-prone of all the research we reviewed in our report; a third article showing an admirable example of two political scientists holding two other political scientists accountable for their flawed, sloppy research; and a fourth article that analyzed seven studies sponsored by New America’s political reform program that deployed flawed methodology based on “simulated” elections instead of real-world elections, which when combined with some basic misunderstandings of RCV, produced odd and misleading results]. In this fifth article in our “Shaky Political Science” series, we examine two flawed studies on the impact of RCV on voter turnout authored by San Francisco State University professor Jason McDaniel. McDaniel’s research in these two papers stands out for its puzzling methodology, inadequate and cherry-picked data, and faulty analyses that not only misunderstands ranked choice voting but reflects a basic misunderstanding of politics in general. The first of the McDaniel studies actually passed through a peer review process and then was subsequently published by the Journal of Urban Affairs, despite its obvious errors. It is perplexing that a jury of peer political scientists did not catch the errors and send it back to McDaniel for a rewrite or outright rejection. This calls into question the credibility of the peer review process itself. The peer review process is supposed to represent the intellectual pinnacle of the profession – a way for academics to certify the quality of each other’s work, and to act as a check against sloppy research. In the case of the McDaniel study, the peer review process failed. Yet his flawed study has been cited dozens of times by other political scientists in their own flawed works — an unvirtuous circle of academic research. Here is the first Jason McDaniel study that we analyzed: “Writing the Rules to Rank the Candidates: Examining the Impact of Instant-Runoff Voting on Racial Group Turnout in San Francisco Mayoral Elections,” by Jason McDaniel, 2016, Journal of Urban Affairs. This study covered San Francisco’s use of ranked choice voting (RCV) in mayoral elections, purporting to show that RCV reduces voter turnout overall, increases voter errors, and has a negative impact on “marginal populations,” i.e. racial minorities, mainly as the result of the alleged complexity of RCV asking voters to rank candidates and having to be familiar with multiple candidates and related dynamics. McDaniel reached these conclusions by examining five San Francisco mayoral elections taking place in odd years (i.e. where there are no federal or state races on the ballot) from 1995 to 2011, comparing three earlier non-RCV races (in 1995, 1999 and 2003) with the later two RCV races (in 2007 and 2011). Only two RCV races were studied, and as McDaniel acknowledged, only the contest in 2011 was “competitive” (that contest in 2007 was the first mayoral election using RCV, and incumbent mayor Gavin Newsom won easily in the first round of counting, earning 74% of first choices and far ahead of the second place candidate who had just 6.3% of first choices). Yet even the allegedly competitive contest in 2011was won by an incumbent with a landslide margin of nearly 20 points. No other elections were studied by McDaniel, even though San Francisco elects 17 other offices besides mayor with RCV, including the 11 seats on the Board of Supervisors (the name for the city council) in even years, and six other citywide offices in odd years. Previous academic research has found that competitive elections can stimulate greater voter involvement and higher turnout. For unexplained reasons, this study ignored at least 34 other RCV races between the years 2004 to 2011, many of which were very competitive and had high voter turnout. Instead, McDaniel’s analysis based its conclusions on data from only a single, marginally-competitive mayor’s race using RCV. These 2007 and 2011 mayoral elections were the only two RCV elections that McDaniel used as the sole basis for his small data set to determine the impact of RCV on voter turnout. Despite having no meaningful data to inform his study, McDaniel nonetheless concluded that RCV lowered turnout when compared to the previous three mayoral non-RCV elections using two-round runoffs. Then, using the same inadequate database of San Francisco elections, McDaniel also found that “Instant-runoff voting is associated with a significant decline in Black voter turnout and White voter turnout…On average, Black voter turnout decreases by 18 points and White voter turnout decreases by 16 points …” But how could he credibly arrive at that conclusion when his study was based on voter turnout in two RCV contests that were not even remotely competitive? Beyond that, McDaniel tacitly admits that the key determining factor driving Black voter turnout was not RCV vs non-RCV elections, but the presence of a viable Black candidate. McDaniel wrote, “Black voter turnout was about 17 percentage points higher for the two elections that featured an African American candidate compared to the three elections that did not” — but one of those three elections did not use RCV. The same dynamic was present for White voter turnout, in which higher turnout was not correlated with RCV vs non-RCV elections, but the presence of a viable White candidate. Beyond that, McDaniel’s voter turnout results, whether correlated with the race of the candidates or RCV vs non-RCV elections, showed no clear patterns. In his Figure 1, he shows low Asian voter turnout in the non-RCV elections in 1999 and 2003 when there was no viable Asian candidate running, but in the 2007 mayoral election using RCV, there is still no viable Asian candidate, yet Asian turnout increases dramatically. For Latinos, voter turnout is virtually the same in 1999 (no viable Latino candidate, non-RCV elections), 2003 (leading Latino candidate, non-RCV elections), 2007 (no viable Latino candidate, RCV elections) and 2011 (leading Latino candidate, RCV elections). Meanwhile White voter turnout increased dramatically from a low in the 2007 mayoral election, in which the leading candidate was a white incumbent, to the 2011 election in which there were no leading white candidates that finished any higher than sixth place with 5.6% of the vote. Clearly other factors were determining voter turnout than either the race of the candidates or RCV vs non-RCV elections. Despite these inconsistent findings, McDaniel boldly marches forth to render conclusions about the impact of RCV on different groups of racial voters, even though his conclusions are not remotely supported by his data. This looks like the worst kind of “data cherry picking” to cover up a puzzling conclusion based on a poor data set involving only two RCV elections, neither of which were remotely competitive. McDaniel’s cherry picking didn’t stop there. In calculating voter turnout for the three non-RCV mayoral elections in 1995, 1999 and 2003, he failed to mention that in each of these years there was a two-round runoff election, with a first round election in November in which no candidate garnered a winning majority of the vote, followed by the decisive runoff in December. So there were two non-RCV elections in each election year. But McDaniel only decided to include one of the two elections in his data set, apparently the December runoff in each year (which had higher turnout in two out of the three mayor’s races, and lower turnout in the third). So he ignored the November 1995 election, the November 1999 election when turnout was only 45 percent, and the November 2003 election when turnout was only 45.7 percent. This is flawed methodology based on blatant cherry picking, since McDaniel simply omitted three elections worth of data that did not fit within his frame. His study should never have made it through a peer review process, and it is an embarrassment to political science that not only was it approved for publication, but it has been uncritically cited by dozens of other political scientists. Share A “study” without wider context or credible data Lacking a data set that included even a single competitive RCV mayoral race, McDaniel declared that RCV lowered voter turnout in 2011, when turnout was 42.5 percent. But he also ignored -- or did not realize -- that voter turnout in mayoral elections during 2011 had sharply declined in all big cities, including far more steeply in nearby Los Angeles and other cities. In fact, San Francisco’s election in 2011 had the second highest turnout of any mayoral election in the nation’s 22 largest cities from 2008-2011. Was 2011 just a particularly low turnout year all across the country, perhaps because the country was still reeling from the aftermath of the housing market collapse in 2008-2010? McDaniel ignored this factor and did not search for alternative explanations beyond his flawed thesis. Furthermore, while McDaniel suggested that RCV leads to more “overvotes” – which is an invalidated ballot in which a voter, in either a non-RCV or RCV race, makes a mistake and selects two candidates for a single choice – he failed to address that in the June 2012 US Senate primary contest, which used the typical “one-choice” plurality method and did not use RCV, there was more than five times as many overvotes in San Francisco and Oakland than in the RCV mayoral elections in those cities. Additionally, turnout had been significantly higher and more representative in RCV elections for the San Francisco Board of Supervisors races -- that McDaniel didn’t even bother to study -- as compared to previous “delayed two-round runoffs” for those offices, often higher by as much as 40% in the RCV races. Perhaps the most surprising irony was that an earlier study co-authored by McDaniel (Overvoting and the Equality of Voice under Instant-Runoff Voting in San Francisco by Francis Neely and Jason McDaniel, 2015, California Journal of Politics and Policy) found that overvotes are often more common in lower-income precincts, but that the pattern of overvoting is similar in both RCV and non-RCV contests. Wrote Neely and McDaniel: “[Overvote] errors appear to be a function of complexity in general and not IRV per se…. the pattern of overvoting is similar in both IRV and non-IRV contests…Even among votes cast in a top-of-the-ticket race like U.S. Senate, overvoting occurs in an uneven fashion” (IRV, or ‘instant runoff voting,’ is another name for ranked choice voting in single-winner contests). So McDaniel not only contradicted his own conclusion in his earlier study with Neely, but the earlier study had been an important corrective for one of the most frequently made mistakes made by anti-RCV political scientists – a continual failure to provide crucial context by pairing a comparative analysis of real world RCV elections with an analysis of real world plurality or other electoral methods. Unfortunately McDaniel’s earlier study does not get cited much by other researchers, and McDaniel did not even cite it in his own flawed study analyzed above. Incredibly, McDaniel cherrypicked McDaniel, even as his flawed study has been cited dozens of times. Despite being a textbook example of poor political “science,” featuring both inadequate as well as cherrypicked data, the shelf life of McDaniel’s study has been extended endlessly by other political scientists and media outlets who have cited it uncritically. Equally troubling, the Journal of Urban Affairs put this paper through its peer review process and published it despite its numerous flaws. McDaniel gets it wrong, Part II Not content with producing one shoddy, confused paper, McDaniel produced another one a few years later, here is the link: Electoral Rules and Voter Turnout in Mayoral Elections: An Analysis of Ranked-Choice Voting by Jason McDaniel. San Francisco State Univ. (McDaniel, 2019). In this paper, McDaniel extended his previous flawed research focused on San Francisco, about voter turnout and voter impact, to multiple RCV cities through the 2018 elections. In his data set he included San Francisco, Minneapolis, St Paul, Oakland, Berkeley, San Leandro and Santa Fe. He then compared their turnout in mayoral elections to non-RCV cities, and to mayoral elections in those cities held before first RCV usage, and concluded “a significant decrease in voter turnout of approximately 3–5 percentage points in RCV cities after the implementation of RCV.” But he replicated many of the same mistakes as his first study presented above. While in this study McDaniel attempted to distinguish between various factors, such as odd year vs. even year elections, competitive races vs. noncompetitive, contests with open seats and other factors, the analysis is superficial and inadequate. He attempts to incorporate so many often-conflicting variables that his conclusions are once again unsupported by the actual data, and ultimately unconvincing (this second study never underwent a peer review process). For example, McDaniel declared that for RCV cities “in elections that are more competitive than average (margin of victory less than 20%), there is no significant RCV effect on voter turnout.” Yet McDaniel is a professor in a city, San Francisco, in which the 2018 special election using RCV to fill a mayoral vacancy was exceedingly close, decided by a margin of only one percentage point, and resulted in the second highest turnout in San Francisco history for a mayoral election. Illustrating the complexity involved in assessing the critical factors in turnout, that special election was held on the same election day as federal and state offices, which tends to boost turnout. Yet more voters participated in that RCV mayoral election than voted on the same day in the non-RCV primary for governor in which former San Francisco mayor Gavin Newsom was running. Even more puzzling, in this study McDaniel inaccurately cited his own previous study from 2015 with Neely. McDaniel wrote, “Neely and McDaniel (2015) examine individual ballot image files within a natural experiment, and find higher rates of ballot errors in RCV elections compared to non-RCV elections” (emphasis added). However, we quoted from that 2015 study several paragraphs above, and in actual fact Neely and McDaniel actually concluded the opposite -- that the pattern of overvoting – which is the most common form of ballot error – is similar in both RCV and non-RCV contests. McDaniel also ignored the fact that in Bay Area RCV elections held in even years – at the same time as federal and state elections, when turnout is highest -- the “undervote” (that is, the dropoff in ballots cast for governor or mayor) has declined, which contradicts his thesis that the act of ranking ballots in RCV elections is too complex and presents a barrier for certain demographics of voters. To his credit, McDaniel actually acknowledged another contradiction in his own paper, which found a negative RCV turnout effect in some odd-year elections but not others, admitting that “may present a challenge to the theory that increased complexity [from RCV] will have a marginal negative effect on voter turnout.” But he tried to wallpaper over that contradiction by blaming it on an unlikely source -- bad election administration. McDaniels wrote, “This would suggest that the negative impact of RCV on voter participation may be alleviated by high quality election administration,” without presenting any data or even anecdotes to support such an unfounded theory. While competent election administration of any election, whether RCV or non-RCV, is crucially important, there is no credible research that supports the far-fetched notion that the quality of election administration has much of an impact on voter turnout in US elections, whether using RCV or otherwise. Upgrade to a $5 subscription The unvirtuous circle of academic research It is puzzling how McDaniel’s first study could have survived the peer review process for the Journal of Urban Affairs. The mistakes in McDaniel’s first study above should have been obvious to anyone with a basic understanding of ranked choice voting as well as elections in general, and elections in San Francisco specifically. It undermines faith in the credibility of the peer review process to think that a jury of peer political scientists did not catch the egregious errors and reject McDaniel’s sloppy research and paper. And it remains a black mark on political science that this thoroughly discredited study has been cited dozens of times by other researchers. Indeed, in our research paper it became apparent that many political scientists cite each other’s flawed research to pad their list of citations and to legitimize their own flawed research, creating an unvirtuous circle of political science. More broadly, McDaniel’s voter turnout studies, like other studies evaluating RCV’s impact on turnout, lacked a recognition that no credible opinion or research can claim that RCV increases voter turnout merely because so many voters are excited to vote for their favorite candidates instead of “lesser evil” candidates without worrying about spoilers. Instead, with respect to turnout, the advantage of RCV has always been that, in most places where it has been used, it has eliminated a pre-November primary or post-November runoff, which usually saw about half the turnout of the November general election. This is especially true during even years when there are state and federal elections on the ballot which substantially drive turnout more than local contests. Any study that does not adequately account for this non-November primary/runoff vs November general election dynamic, or odd year vs even year election factors, is simply not credible. Both of McDaniel’s studies largely failed on those grounds. Steven Hill and Paul Haughey Share Upgrade to a $5 subscription Thanks for reading DemocracySOS…your digital portal for the pro-democracy movement. Subscribe for only $5 per month to receive full benefits and to support our work. Subscribe
Science can serve dark as well as light
I’m not sure how many of you are watching “Star City,” Apple TV’s spin-off of its “For All Mankind” program (2019-present), but it’s one of the better sci-fi series I’ve seen in a while, with an impressively dark political message. (Some light spoilers below.) For the uninitiated, “For All Mankind” presented a slightly tweaked history of the U.S. space program in which it was the USSR that landed on the Moon first in 1969, and shortly thereafter put a woman cosmonaut on the lunar surface. This sparks an ongoing space race that, in the original series, yields a lot of benefits for humanity. President Nixon’s insistence on a female astronaut corps to compete with the Soviets boosts the feminist movement of the 1970s and the ERA passes. New fuels generated for the space program create clean and cheap energy around Earth. There are also some darker changes — the USSR is thriving well into the 2000s, there are terrorist counter-technology movements around the globe, laborers on Mars work in nightmarish conditions and organize strikes and riots, etc. the @smotus report is a reader-supported publication. To support this work, please become a paid subscriber. Subscribe That show offers glimpses into the subtle ways this Earth is different. Teddy Kennedy never went to Chappaquidick because he was racing back to Washington to deal with the space program crisis; he gets elected President in 1972. John Lennon survives his early 1980s shooting but Pope John Paul II does not. The Apple Newton succeeded. Pretty much the whole of season 4 is a setup for an Al Gore joke. Again, mostly, the vision that “For All Mankind” presents is a positive one, with technology advancing many human interests. “Star City” goes in a very different direction. This spin-off show is about the same set of events but from the Soviet perspective. As we meet them, the team of scientists and cosmonauts responsible for the lunar landing are still basking in their hero status, but their program is embedded deep in the Soviet security state of the late 1960s. Everyone’s apartment is bugged. Whole teams of clerical staff spend their days transcribing recordings of people’s lives. People in the program, including respected cosmonauts, are regularly arrested. An incredibly menacing Colonel Lyudmilla Raskova (Anna Maxwell Martin) forces confessions and tortures and kills, expressing little more than annoyance in the process. Meanwhile, the space program’s highly respected Chief Designer (Rhys Ifans) has a vision for the program that he knows the government will not approve. He insists that they need to think past the Moon to focus on colonizing the solar system, starting with Venus. (This is a rough parallel to the Americans’ pivot to Mars in the original show.) He essentially builds a secret space program within the space program, calculating that the government will embrace the mission after it has succeeded. (As an aside, I’m not sure why the Venus obsession, as a successful mission can’t produce the biggest public relations payoff: a cosmonaut standing on the surface holding the Soviet flag. Anyone standing on Venus would be immediately crushed by the 92-bar atmosphere and then cremated in the 900°F temperatures. But in a country with no free press perhaps the visual payoff was less valued.) But the overall vision is that the technological advances have only amplified the most fearsome aspects of the Soviet system. The state is paranoid (but not incorrect) about American spies and does monstrous things to protect its secrets. People are terrified to trust each other. Classic banality-of-evil figures order people to harm those they care about; those people comply rather than get shot. Others are forced into criminal behavior to protect loved ones. We’re reminded all the time these days of what happens when a government despises science. It manifests in the defunding of schools, the elevation of fossil fuels as the rest of the world pivots to solar, outbreaks of measles and diarrhea, etc. But “Star City” offers a vision of a bad government that likes science. It’s not encouraging. It’s not yet clear if there will be a season two of this show. But I strongly recommend season one. It’s both thoughtful and gripping. Share
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(Welcome to the “Most Important Story of the Week”, my bi-weekly strategy column analyzing the most important (but often not buzziest) news story of the last two weeks. I’m the Entertainment Strategy Guy, a former streaming executive who now analyzes business strategy in the entertainment industry. Please subscribe.) Well, it looks like it’s time for another strategy column. Can I finally avoid writing about M&A? No, it seems I cannot. Admittedly, I’m a week early with this column, since I usually put it out every other week. But this news couldn’t wait. This will make three “Most Important Stories” in a row with a merger or acquisition as its centerpiece. First, Roku-Fox (an acquisition), then Comcast-NBCUniversal (a divestment!), and now the State AGs and the WGA’s lawsuits against Paramount’s pursuit of Warner Bros. Discovery (antitrust). M&A is usually the “most important” topic any given week, simply because a giant company merging or breaking up (or preventing those outcomes) can have the biggest impact on the streaming board. If you think about these companies as players in a game, changing the number of players is one of the biggest changes you can make. I shouldn’t really complain, either, since this lawsuit is very good news for customers and suppliers (econ speak for talent, workers and indie studios in Hollywood). So let me answer some questions about this potential trial, along with (shudder) making some heavily caveated predictions. I’ll also look at whether Hollywood must consolidate, whether or not the states can win, trouble at X-Box, Netflix’s YouTube binge, and more. Plus, I have five images that visualize this merger and the harm, including three brand new data looks you’ve never seen before. Subscribe Most Important Story of the Week - Can The States and the WGA Stop Hollywood’s Consolidation (Crisis)? If every other newsletter and news outlet is writing about the same story, I try to avoid writing about it as well, but I can’t ignore a story this consequential. The story of the last year was the fate of Warner Bros. Discovery, and this development potentially extends that saga into 2027. As I tried to figure out my angle, I realized, like my last column, I’m again faced with a series of questions. These questions, though, are much more forward-looking. Will the states win? Will the WGA win? If so, what happens to Warner Bros. Discovery? Either way, will this chill the market for future mergers? So you know what that means: predictions. About the future, no less, the hardest thing to predict.1 Just remember: nothing here comes with a guarantee. And the more confident someone is in their predictions, the less you should trust them. This situation is incredibly fluid, nuanced, uncertain and tenuous. So let’s try to explain what may happen. Question: Why File this Lawsuit? I’ll admit, a few months back, I was fairly pessimistic about the fate of this lawsuit. Rumors had started bubbling up that the state Attorneys General (in particular California) wanted to settle with either some minor divestments (usually CNN) or behavioral remedies. And that tracked for me: the states usually settle lawsuits, like the recent John Deere right-to-repair suit. Yet, they plan to fight this. (As they did the LiveNation-Ticketmaster monopolization trial and the Nexstar-Tegna merger.) Honestly, that also makes a ton of sense. Frankly, this move is just good politics for these State AGs. Most are still running for higher and higher office in blue states—some folks have emphasized that only Democratic AGs joined this suit, but given the Ellison/Trump ties, and fears of retribution, that tracks—and a high profile case like this will help them move up the electoral ladder, especially since Paramount and its leadership (the Ellisons, father and heir) have sided with the other side of the political aisle. That makes them unsympathetic to Democratic voters and Hollywood workers in particular. Why did this lawsuit happen? In addition to the very real concerns about industry consolidation, this is why. That said, I don’t think we would have seen this lawsuit for Netflix and Warner Bros., simply because they’re more sympathetic and aligned with Democrats. But those consolidation concerns are real. The “town”—meaning Hollywood and such—really is seeing the damage of mergers on this industry. That’s why the WGA also filed its own lawsuit in defense of workers as well. (Wildcard: What about Europe? Will they try to stop the deal, too? There have been some rumors out of the UK they may try to fight the deal, and UK enforcers just stopped a Getty Images-Shutterstock tie up, so there is precedence. This argument could go either way, though. On one hand, the EU doesn’t need to step in, cause they states are handling it. On the other hand, this could make the EU’s case easier. Just imagine if both sides coordinated. I’ll simply say, “We’ll see!”) Question: Will The State AGs or the WGA Win? Can the state AGs play David to Paramount-Skydance’s Goliath here? That’s really the whole thing, isn’t it? If you know this result, you could make a lot of money. When things are uncertain, it’s tempting to shrug and say, “Eh” meaning it’s a 50/50 proposition. I wouldn’t, though. When in doubt, you should expect that the merging parties succeed. AT&T did successfully buy Warner Bros., after all, and Disney bought Fox without any challenges. Many judges are extremely sympathetic to mergers, and I’d bet the state AGs get a judge who will allow the merger. (Even Obama-appointed judges often allow mergers.) As I understand it, we’ll see two main attacks. First, theatrical films. The AGs are arguing that, when it comes to share of box office and the number of both “wide releases” and blockbuster (or “tentpole”) films, the merging parties will have over 27% market share. Now, the Supreme Court once ruled from on high that any merger that exceeds 30% is presumptively illegal, but that’s guidance, not an ironclad bar. Still, the states will have to argue that this is close to having too much power, and with that power, this will likely further worsen the theater/studio splits in particular. Indeed, as Matthew Stoller pointed out, “just five studios are responsible for 95% of all blockbusters; if this merger goes through, then Paramount and Disney will control 60% of that.” So yes, movie studios will be very concentrated after this merger. Want me to visualize some of that? Well, here’s the share of films that grossed over $200 million at the domestic box office since 2022. (Note: this isn’t all films released in over 3,000 screens, but it is a good look at market power.) First, here are the 43 films by studio: Notice all the blue (Disney), orange (Universal), and purple (Warner Bros)? Yeah, those studios are powerful, and this combines Paramount with one of them. Here’s the look by studio and share of the films that grossed over $200 million: Now, if you look at that and also think, “Huh, should we break up Disney?” I’m with you. I’ve seen some folks poo-poo this idea that this is a real category, but it is! For an upcoming article, I’ve been pulling data on the share of top 100 films at the box office as a share of total box office, and it’s massive. Here’s the chart: (This analysis looks at The-Number’s top 100 films and total domestic box office each year.) To be clear, tentpoles make up 80.7% of the box office each year, so I do think it’s a genuine market. (To be clear, films grossing over $50 million make up 80% of the domestic box office, and films grossing over $100 million make up 64.1%.) I mean, the top 100 films at the box office make up 95% of each year’s grosses. Worse, the combined studios will likely cut output to flex that market power. Everyone can just look at what happened to Disney and Fox to see the precedent. (With fewer films, the remaining theaters have to give more for those few films that remain.) Here’s an image I’ve used a lot, the share of wide-release films from Disney and Fox over time: The AGs will also argue that this consolidation will also impact the cable industry. In this case, the consolidation is actually worse, but that environment is…complicated. Paramount will argue that the cable industry is shrinking. That said, predictions that cable will “go to zero” also don’t look very well supported by the data, as the declines are shrinking, meaning “cable” or “vMVPDs” will likely stabilize at some point. Can the state Attorneys General win on those two main arguments? I honestly don’t know. Again, I’d bet no, since history in general supports that, but it depends on the judge/jury and how they interpret the arguments. Notably, Paramount won’t face accusations about monopoly power in other areas, like streaming, news, sports rights, or vertical integration. I tend to disagree with leaving out sports rights, but I also see the appeal for a simpler case. The states also aren’t really pushing novel theories about labor harm either, which should help. (By the way, Sean McNulty at The Ankler wrote a great run through of potential options, and Capitol Forum also wrote a great paper on theatrical consolidation. Both these pieces predated the lawsuit. Matthew Stoller is also out with his analysis of the pros and cons of the case too.) In some ways, the WGA’s case is even stronger. Quoting Sean McNulty’s summary: “The WGA is citing WARNAMOUNT as crossing a 30% market share in multiple sectors, a number that the Supreme Court has precedent for deeming “presumptively anticompetitive” in a market. According to the WGA numbers, WARNAMOUNT would have represented: - 35% of film writing jobs between 2021 and 2024 - 36% of TV writing projects between 2022 and 2025 - 38% of overall deals between 2021 and 2024” Notably, antitrust enforcers did win recently in the Penguin-Simon & Schuster merger by focusing on labor impact, so don’t count this thinking out. (Wildcard: Will the states try to get a jury trial? Most likely no, they’ll let a judge handle it. If I’m them, though, I’d try to put this in front of a jury. Juries tend to understand monopoly power in a more realistic way than judges faced with legions of economists.) Question: What if They Win? What if They Lose?
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