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Looking at the Ugly Side of the Paramount-Skydance Merger...And How I’d Fix It
A Message from Our Sponsor Certified Fresh with 100% on Rotten Tomatoes, FX’s Adults is an ensemble comedy series about a group of twenty-somethings in New York leaning on each other to navigate love, work, friendship and family. Don’t sleep on “The Sitcom of the Moment” - Awards Buzz All Episodes now streaming on Hulu on Disney+. Watch The Teaser Trailer... (Welcome to the Entertainment Strategy Guy, a newsletter on the entertainment industr(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.) Before we dive in, I wanted to congratulate Broadcast Now for being the first to report that Netflix’s How to Get to Heaven from Belfast has been cancelled. (I saw this in a write-up by Kasey Moore of Whats-On-Netflix.) More importantly, I wanted to note that, as of yesterday, none of the other trades had reported the news yet. I have half a guess that eventually one of them will report this. Anyways, it’s time to take a break from my deluge of streaming ratings reports to continue my analysis of the Paramount Skydance Warner Bros. Discovery (PSWbD) saga. As I noted last week, a lot of times when folks use the (sometimes cliched) “the good, the bad and the ugly” framing for an article, “the ugly” section is just more bad. Or very, very bad. In this case, yeah, I do think it’s ugly. In more than one way. Unfortunately, we’re only going to have time to tackle one of those ways today: the ugly pile of debt to finance this deal. (In a future article, I may cover the entire process for how it went down, which was very, very ugly.) Last issue, I explained why I liked this deal in a vacuum. Unfortunately, “vacuums” don’t exist outside of space. Let’s dive in. Subscribe Most Important Story of the Week - The Ugliness of the Paramount/Warner Bros. Merger More than one person sent me a note speculating that the big problem with Paramount Skydance buying Warner Bros. Discovery is the “Warner Bros.” portion of the deal. In fact, that’s a take I read a lot about Warner Bros., ever since they caught Netflix’s, and then Paramount-Skydance’s, eye. In short, multiple companies (Time, AOL, AT&T, Discovery) have bought and then regretted buying Warner Bros. Since it’s nearing Halloween, you could almost say it’s like the folks think WB is cursed! It’s a haunted studio—like the town of Derry in movie studio form—and whoever takes possession of it will fall into misery! Yet...I just don’t like that story, because it doesn’t explain the “why” behind why those deals fell through. Especially when Warner Bros. has continued to succeed as a TV and film studio in the intervening two decades. Lord of the Rings? Harry Potter? Game of Thrones? Everything HBO? Considering it never fully owned a broadcast TV channel, this media company has done pretty well. So what went wrong? Well, in recent years, companies bought Warner Bros. instead of the other, smarter option. Explaining POCD (And Applying It to Mergers & Acquisitions) As I explained last issue, one of my favorite frameworks is the POCD tool for evaluating venture capital investments: People Opportunity Context Deal The bar to invest as a VC is high. (Or I might say “was” since cheap interest rates made life easier last decade.) You review a thousand prospectuses, get pitched by a hundred, and invest in the ten best, with the hopes that one of those ten would pay for the rest. That means every element of a deal needed to pay off: you needed the right people running the companies, who could capitalize on the right opportunity, in the context of an industry that was ripe for disruption. If you could then not overpay, you could make some money in a smart deal. The analogy isn’t perfect here, but close enough. For a merger or acquisition to work, you need the combined company (which is the opportunity) to make more than the price you need to pay (which is the deal). Note: the people and context still matter, but with M&A, it’s a little more straightforward: does the opportunity exceed the cost? And usually with Warner Bros., it hasn’t. If you want to find out the single biggest mistake made by the Warner Bros. suitors over the last few years (and my simple fix) become a paid subscriber. I’ll also touch on who I think Paramount-Skydance could (shockingly) consider buying next, TBD, and more. Sign up here.
Metro Detroit business remains closed after $100K theft, according to owner
Local hemp and CBD businesses say new federal restrictions could force them to close
A new federal ban on hemp products is set to go into effect near the end of this year.
Barcelona expressing fresh interest in Sporting star
The board at La Liga giants Barcelona are keeping a close eye on the situation of Iván Fresneda in Portugal, with a view to a potential future bid for the defender.The situation at right-back at the ...
Why Bernie Sanders is California Democrats’ campaign closer
Sen. Bernie Sanders represents a tiny state on the opposite coast, but continues to be one of the most powerful messengers in California politics.
Midtwon Costco to close Thursday, reopen as business center in spring 2027
Costco Wholesale in Midtwon Kansas City, Missouri, is set to close Thursday. The reatiler aims to reopen the store as a Costco Business Center in spring 2027.
Somalia health centers close as hunger and drought deepen
Funding cuts are closing CARE-supported health centers in Somalia as drought and hunger worsen. In Dhahar, Aisha struggles to find food, water, and care for her malnourished daughter.
Senate committee advances Dr. Nicole Saphier\'s nomination for surgeon general
Dr. Nicole Saphier, President Trump's third nominee for surgeon general, is moving closer to confirmation. A Senate committee advanced her nomination Wednesday with a 12 to 11 vote. Saphier, a
Mayor O'Connell touts Nashville's business longevity record in recent speeches
He wants to shed light on the positive side of Nashville's economy at a time when high-profile hospitality businesses have closed.
What will be classed as a successful season under Glasner?
Will: What do you think represents success for Glasner this season? If we trend as we are into Christmas, do you think the owner will look to replace him, or will Glasner be given the full season regardless, assuming we're not close to relegation? Nick: After last season, Forest desperately need stability, and it would be a huge surprise to see the manager leave, unless it is an irretrievable situation.
Boxed into a corner?
The Premier League has opened a Pandora's box of problems which cannot be closed. This looks like a gigantic mess, but could also become a bit of a joke, especially if they attempt to rewrite history, and change the winners' names on the Premier League and cup trophies over these past 15 years.
This Stat Explains Exactly How Rays Won 98 Games
The Tampa Bay Rays won 98 games by dominating close situations, going 25-4 in one-run games and 61-35 in games decided by three runs or fewer. Elite pitching control, MLB's lowest strikeout rate and a versatile offense could make Tampa Bay dangerous in the MLB playoffs.
Romanian parliament to vote on third PM pick amid political deadlock
The Romanian parliament was due on Wednesday to vote on a third nominee for prime minister, although analysts said chances of him being confirmed appear slim, bringing closer...
Out on campus: My identity is not your political stance
By Cal Sutton In recent years, the concept of a queer identity itself is becoming incredibly political. While LGBTQIA+ identities have always been closer to the side of taboo or shameful, recently, there have been leaps in the right direction — always seemingly followed by a catapult to the wrong one. In June 2015, Obergefell… Continue Reading Out on campus: My identity is not your political stance
Payer-provider disputes increase amid federal cuts, inflation
After months of contract negotiations this year, Sentara Health and Anthem Blue Cross Blue Shield of Virginia weren’t close to an agreement, foreshadowing
Ex-Red Sox Hurler Closes Yankees Dominant Game 1 Win
Game 1 of the Wild Card Series belongs to the New York Yankees
SLR Business Credit Provides $1.2MM Senior Secured Asset-Based Credit Facility to Gourmet Mushrooms
SLR Business Credit (SLRBC) closed a $1.2 million senior secured asset-based credit facility to Gourmet Mushrooms. The facility is structured exclusively
Olympiacos Sign 18-Year-Old Left-Back From Legia Warsaw
Olympiacos has signed 18-year-old left-back Athanasios Christopoulos from Legia Warsaw. The Greek defender returns home as a free agent before the window closes.
Advocates, families gather in Lansing for statewide youth mental health conference
The Association for Children’s Mental Health is hosting its 36th annual statewide conference Tuesday at the MTG Space in Lansing, bringing together advocates and families to discuss youth mental health as Suicide Awareness Month comes to a close.
Beloved Carleton burger joint Fat Stax abruptly closes amid business dispute
A beloved small-town burger joint is expected to close its doors and the owner as well as the community is devastated. Fat Stax, on Telegraph Road in Carleton recently shut down and the owner, Barb Little, was spending the day cleaning it out.
Health officials address spoiled food issues at closed Happy Days
The state Health Department says spoiled food has been removed from the kitchen area of the shuttered Happy Days Chinese Seafood Restaurant in Kaimuki following a partial roof collapse.
Midtown Kansas City Costco closing Thursday for months-long Business Center conversion
Kansas City's midtown Costco closes Thursday and will reopen in spring 2027 as a Costco Business Center. Here's what will change and what will remain.
Oklahoma rural health gets $223M from One Big Beautiful Bill as SWOSU brings care closer to home
Oklahoma rural health just got a $223 million boost, and SWOSU is using part of it to bring care closer to home for those in western Oklahoma.
Android 17 QPR2 enables Pixel 11 Pro HiLight for messages
With Android 17 QPR2 Beta 6.1, HiLight on the Pixel 11 Pro series now supports message notifications. This should have...
Historic science museum in Philadelphia to close
Philadelphia's Academy of Natural Sciences is set to close down thanks to financial pressures. The 198-year-old museum houses important scientific specimens and a beloved dinosaur exhibit.
Scientists Dated the Catastrophic Pompeii Eruption Using Only Rocks. Here's How Close They Got
According to Pliny the Younger, Mount Vesuvius erupted on August 24th, 79 CE. That date is now helping geochronologists modify a common mineral dating technique.
NBA reportedly close to selecting winning bid for Las Vegas expansion team, has 3 finalist groups
Why AMC Entertainment (AMC) Dipped More Than Broader Market Today
AMC Entertainment (AMC) concluded the recent trading session at $3.08, signifying a -6.38% move from its prior day's close.
California's Six Flags Magic Mountain closes X2 coaster permanently after history of injuries
LOS ANGELES — Six Flags Magic Mountain’s famous X2 roller-coaster ride is permanently closed, following a history of injuries, including some that led to deaths, park officials announced Tuesday. The
Research shows poor mental health among politicians may impair decision-making
When political leaders disclose mental health challenges—as an increasing number of high-profile leaders have done in recent years—the public debate usually focuses on politicians' personal resilience ...
Research shows poor mental health among politicians may impair decision-making
When political leaders disclose mental health challenges—as an increasing number of high-profile leaders have done in recent years—the public debate usually focuses on politicians' personal resilience ...
Valley West Mall sold; site plan to be finalized
Brian Martin likes to do “impactful” developments that will help transform the communities where he works. That’s why the president and CEO of Threshold Capital and Threshold Development decided to invest in the redevelopment of Valley West Mall. The $11 million deal closed on Monday, and as the new owner, he is ready to begin…
SAC Health announces ‘final’ round of 52 layoffs
The layoffs are part of a two-phase restructuring to close a multimillion-dollar budget gap.
California's Six Flags Magic Mountain closes X2 coaster permanently after history of injuries
LOS ANGELES — Six Flags Magic Mountain's famous X2 rollercoaster ride is permanently closed, following a history of injuries, including some that led to deaths, park officials announced on Tuesday.
Is It Really Dandruff? The Science Behind Seborrheic Dermatitis
Dandruff and seborrheic dermatitis are closely related, but the actual flakes can tell you the difference — making all the difference in how you treat it.
Popular Jersey Shore pizza spot closes after 32 years
The pizzeria was one of the first businesses to reopen on the town's Main Street after a devastating fire years before its 1994 founding.
Findings from the EHF Texas Health Tracking Poll 2025
The annual EHF Texas Health Tracking Poll 2025 also shows how health care affordability, food insecurity, and health are closely connected. Food-insecure Texans are more than 4.5 times as likely to have medical bill problems as those who are food secure, and health outcomes steadily worsen as food security decreases. Texans who regularly run short...
Texas sports anchor says goodbye to state in last-day career reveal
The move closes nearly a decade in Texas sports media.
Six Flags permanently closing X2 roller coaster after over 100 brain injury claims
Six Flags Magic Mountain will permanently close the X2 roller coaster after over 100 allegations of brain injuries stemming from the controversial California ride.
Trendiana: New businesses in historic buildings
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Rock group to bring acoustic tour to Hershey: How to get tickets
"The intimate format brings fans closer to the lyrics and stories," the website reads, "connecting the catalog that built the band with the heavier, more emotionally exposed music defining them today.”
Railroad Crossing at 10th St. & Business 83 in McAllen to close for safety upgrades Sunday, Oct. 4th
The railroad crossing at SH 336 (10th Street) and US Business Highway 83 in McAllen will close from 8 a.m. to 5 p.m. Sunday, Oct. 4, for safety upgrades.
Anthropic joins ARPA-H clinical AI moonshot, will hold closed-door health care event
In this edition of STAT Health Tech: Oura delays IPO plans, Anthropic joins an clinical AI effort by ARPA-H, and MAHA's health data goals.
Mental Health Strategies for Youth Hockey Players
As the dates for tryouts and the start of the new season – among the most stressful points on the youth hockey calendar – creep closer and closer, it’s important for players, parents and coaches alike to remember the mental preparation required, while they work on sharpening their physical skills an
Where Healthcare Knows Your Name
See how two Health Mart pharmacies connect patients to medications, services and personalized support while helping keep care close to home.
iPhone Duo Reportedly Facing Production Problems Ahead of Launch
The iPhone Duo is reportedly facing production difficulties ahead of its October launch, with early output expected to be limited. A person said to be close to Foxconn's supply chain told China's Jiemian News that final assembly yields for Apple's first foldable iPhone were only slightly above 60% as of September 17. The source said that, under Apple's current quality standards, it could take another six months to a year for the assembly line to reach a mature yield.
Poll: Voting to repeal WA 'millionaires tax' hinges on ballot details
A new poll suggests an initiative to repeal Washington's new high-earners tax is trailing badly, influenced by ballot language that discloses its budget impact.
Students Discover a 309-Million-Year-Old Creature Was Actually a New Species, and Name It After Their Moms
The ancient creature had been mistaken for another species for years — until two Field Museum interns took a closer look and gave it a very personal name
The Beclowning of Scott Bessent
One iron law of current politics is that nobody who associates themselves with Donald Trump emerges with a shred of credibility. For some, that’s not a big loss — it’s not as if anyone respected Pete Hegseth even before he decided that the key to military success in an age of drones and AI was more testosterone. For others, however, the costs are real. I’m old enough to remember when Marco Rubio was widely considered a reasonable, thoughtful politician. Right now, however, my candidate for the biggest loser is Scott Bessent, the Secretary of the Treasury. Bessent started out with significant reputation to lose: When Trump selected him, this was the headline in the Financial Times: Jason Furman, Barack Obama’s chief economist, described him as a “credible Treasury secretary who has a real understanding of the global economy”. But Bessent has now transformed himself into the Baghdad Bob of bonds. Three weeks ago, after intervening (for reasons that remain somewhat unclear) to support the Japanese yen, Bessent boasted about his ability to move markets and dared investors to bet against his, declaring “I am the house now.” He then tried to push long-term interest rates down, buying 30-year U.S. Treasuries in a move some have compared to paying down part of your mortgage by running up your credit card balance. Here’s how that’s going so far: To get some perspective on how high interest rates have gone, here’s a longer-term perspective: We haven’t seen interest rates this high since the fading days of the dotcom bubble. Why are interest rates hitting new records? The backdrop, as I argued in last Sunday’s primer, is the huge AI-driven investment boom; more on that next week. But the immediate cause of the latest interest rate spike was Trump’s rejection of an Iranian proposal to end the war. This rejection sent crude oil prices, which for a while had fallen considerably, shooting back up: It’s notable, by the way, that oil prices remain high even though a significant amount of oil is now being shuttled through the Strait of Hormuz by night, on smaller vessels. That’s an interesting story, which has a lot to do with the fact that oil from the Hormuz shuttle runs must be transferred to larger vessels before being shipped to markets in Europe and Asia; around 15 percent of the world’s large crude carriers are now parked off the coast of Oman, waiting to be tanked up. This is creating a shipping crunch: But that’s a topic for another day. For now, the point is that with oil still high and refined products, especially diesel, still close to record levels, inflation will remain elevated. And this in turn means that the Federal Reserve will keep short-term interest rates high, an expectation that is feeding into longer-term rates. Hence Bessent’s bond-market humiliation. The truth is that Bessent might not have been able to get interest rates down even in the best of circumstances. But he certainly won’t get anywhere as long as Trump keeps believing that he can somehow convert his Iran debacle into a triumphant victory. And Trump will keep believing that as long as he is surrounded by sycophants who tell him what he wants to hear. Sycophants like, for example, Scott Bessent, who is predicting the imminent collapse of the Iranian economy, possibly within two weeks. Bessent is right to say that the embargo on Iranian oil exports is placing the country under great economic strain. But his implicit prediction that this will quickly produce a deal that Trump can call victory looks no more plausible than his boasts about the bond market. The big question now is, why would anyone with a reputation to lose work for Donald Trump? As the beclowning of Bessent shows, joining the Trump team won’t just damage your reputation; it will utterly destroy it.
Lesbian Bar Project Co-Founder: Purity Politics Could Destroy Our Remaining Spaces
Subscribe As a professional lesbian and Massachusetts native, I’ve recently been asked by a lot of folks what I think about the saga unfolding at Last Ditch. The now-viral story, first reported by The Boston Globe, centers on a Western Massachusetts lesbian bar that lifted its mask requirement for one night a week to help drum up business. The decision ignited an intra-queer controversy that has been feasted on by media outlets across the political spectrum—from the New York Post to LGBTQ Nation—and is even reportedly being eyed for a Hollywood adaptation. Apparently nothing is more entertaining than a bunch of lesbians and queers fighting with each other over KN-95s. What has been lost in all of the chatter and media coverage is the very real possibility that Last Ditch, which just opened in April 2025, will have to close its doors. The venue’s one remaining founder, Jackie Matellian, revealed in a community Zoom meeting that she’s working four jobs, is now solely responsible for the bar’s $50,000 business loan and is struggling to keep up with the bills. So as we laugh about the controversy’s similarity to a “Portlandia” skit and how one of the bar’s founders left to enroll in clown school, we forget that yet another lesbian bar is facing an existential crisis—and this time the call is coming from inside the house. In 2020, my friend Elina Street and I created The Lesbian Bar Project, an Emmy-, Webby- and GLAAD Media Award-winning docuseries and initiative that tells the stories of lesbian queer bars around the world. We were moved to act because at the time there were only an estimated 16 lesbian bars in the United States, and the pandemic threatened to bring that number down even further. There are now more sapphic bars than there were just before the pandemic—about 36 of them in total—but this is down from approximately 200 in 1980. Maybe that doesn’t mean much to you, but for the millions of sapphics living in the U.S., this number is calamitous. As the world laughs at lesbians and sapphics, I want to take a second and tell you what I feel when I walk into one of these bars, which are all unique and irreplaceable in their own way: I feel seen. Sometimes I think Cubbyhole in New York City’s West Village neighborhood knew I was gay before I did. When I walked in there for the first time, before I was even out, I was transfixed by the colorful array of tchotchkes hanging from the ceiling and how the women standing next to me were completely unafraid to express their desire for one another. I knew the minute I was ready to come out, I had a home. I also felt the joy of a new couple falling in love at Seattle’s Wildrose, the quiet confidence of a short king lining up her shot at the pool table at Ginger’s in Brooklyn and the kick of cayenne pepper in Julie Mabry’s crawfish at Houston’s Pearl Bar. Subscribe Lesbian bars don’t just serve lesbians; they serve queer folks across the spectrum, including bisexual, pansexual and trans people. As Elina and I traveled across the U.S. and Europe and to parts of Latin America to document the bar owners, staff and patrons that make up the ecosystems of these spaces, we also became uniquely acquainted with the factors that threaten their existence: gentrification, wage gaps, sexism, environmental disasters, gun violence, rising insurance premiums and political administrations working to annihilate queer people and their families. Lesbian bar owners, like all leaders and entrepreneurs, are imperfect. There have been significant issues over the years at lesbian bars: employee harassment, racism, lack of accessibility, sexual assault and transphobia. All bar owners should be held accountable and should listen to their communities to evolve into safer and more equitable spaces. I also acknowledge my privilege: I am able-bodied, white, cis and from a family system that loves me for who I am. Not everyone has that. Queer people, especially trans and bisexual people, are suffering from disproportionately high levels of depression, and our mental health system isn’t equipped to support them. Immunocompromised people and long COVID are real, and many of my friends are suffering to this day. The people with the least safety net are often the ones for whom a bar closing costs the most. And yet, as we’re seeing with Last Ditch, the queer community often lashes out at each other. It’s also the mainstream media taking the internal conflict and making a mockery out of it, distracting from the real possibility that this bar could close due to financial pressures. A bar that many people loved and needed is facing extinction. Perhaps it’s safer to dissent with one another than with the larger forces trying to eradicate us, but in doing so, we risk destroying the few spaces we have left. Due to the constraints of purity politics—some in good faith, some not so much—lesbian bar owners, almost all of whom are queer women themselves, are forced to be everything for everyone, similarly to how women are forced to be everything for everyone. By asking these bars to uphold impossible standards—standards very few other third spaces are asked to consider—we all end up losing. I want to move as a community toward dialogue, compassionate dissent and collaboration to make our spaces better with the goal of keeping them OPEN and thriving, rather than destroying them from the inside with expectations that are arguably unattainable. Subscribe While I have your attention—for this fleeting second of the news cycle—may I urge us to spearhead a way to keep these small businesses afloat without attacking our own community along the way? Bar owners are left with an impasse: They want to be community-centered, but they also have to make money to keep their doors open. Sometimes they might make business decisions that don’t work for everyone—and that’s partly because different patrons have different priorities and want different things—but these owners deserve the opportunity for productive dialogue**.** We have to work with them and with each other to keep our spaces open, to keep them growing. Lesbian bars raised me into the queer woman I am today. One thing I think about as I reflect on the six years of work we’ve done to document these spaces is that shared, unspoken language I have with a stranger the moment we both walk into one of these bars: the nod, the ease, the not having to explain ourselves. I don’t want to lose that, and neither should you. If objective, nonpartisan, rigorous, LGBTQ-focused journalism is important to you, please consider making a tax-deductible donation through our 501(c)(3) fiscal sponsor, Resource Impact, by clicking this button: Donate
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The message I had received was unsettling—for a moment. Then it was just really confusing. Back on January 20 of this year, at 5:15pm ET, I received an email with the subject line “Legal Correspondence re Bobby Kotick.” It was from the law firm Clare Locke, a firm I’d heard had been emailing reporters in recent years about their coverage of Kotick, the former, longtime CEO of Activision Blizzard. The letter was threatening. A lawyer from the firm introduced themselves as “defamation counsel to Bobby Kotick.” They issued a “demand” that I “correct” a Game File article I’d published a week prior. The article that had irked them had been a scoop of sorts. I’d written about a a 2022 lawsuit brought by a Swedish pension fund, AP7, over Microsoft’s purchase of Activision Blizzard. The suit wasn’t news, but I was first to review and report about Kotick’s extensive pushback to the fund’s claims. The pension fund’s core contention was that the sale had been rushed by Kotick to avoid the consequences of sexual misconduct scandals swirling around the company in 2021. (He’d not been accused of misconduct himself in those suits, to be clear.) As I wrote at the time, Kotick had denied the allegations of the rushed sale. Beyond that, Kotick used a December 2025 reply to the Swedish fund’s lawsuit to assign blame for those workplace scandals, the bad press and even for the AP7 lawsuit. I’d found Kotick’s arguments novel and newsworthy. Across nearly 3,000 words, I explained Kotick’s take: that a Swedish gaming company was behind the Swedish fund’s lawsuit (the Embracer group; they denied it); that the Microsoft-Activision deal was not rushed and was secured at what Kotick felt history had proven to be an optimal price for shareholders; that he believed a conspiracy of people at unions government agencies, PR firms and the media had spun up claims of widespread workplace misconduct at Activision Blizzard in 2021. The article gave context for all of this, letting readers assess the claims and weigh their credibility. As I’d later write to Kotick’s lawyers: I would be surprised if you could point to any news article about Bobby Kotick in the last five years that has spent more of its wordcount articulating his point of view. He is welcome to do an interview with Game File any time. Nonetheless, there they were in my inbox that Tuesday evening: Clare Locke, the law firm that secured a $787.5 million settlement from Fox News over false statements about voting machines. They were emailing me, threatening that failure to comply with their demand could support a claim of “actual malice,” a legal standard for libel. Unless… Unless, they said, I added a key paragraph to my article. This was a paragraph that I already knew Kotick’s lawyers had been emailing reporters about for at least a year, and it was a paragraph that was already in my article. The paragraph they wanted is from a 2023 settlement that California’s Civil Rights Department struck with Activision Blizzard. The settlement had closed a two-year-old lawsuit over alleged sexual discrimination at the game maker. The paragraph basically said that claims of systemic or widespread sexual harassment—or of execs like Kotick tolerating such behavior—had never been proven. I’d already seen proof that Kotick’s lawyers had pushed for the settlement’s language to be added to reports about 2021 sexual discrimination and misconduct lawsuits brought against Activision Blizzard by California and, separately, by the U.S. federal government (both suits were since settled). I knew that Kotick and his lawyers felt that the California settlement language should be mentioned in the same breath as references to an article he hated and denied, a November 2021 Wall Street Journal article claiming Kotick knew “for years” of sexual misconduct at Activision Blizzard. So, in the Game File article that Clare Locke emailed me about, in the interest of ensuring I was being fair and balanced regarding the person I was covering, I had already included the following excerpt from the California settlement [emphasis added in bold]: (Kotick has repeatedly pushed back against that November article in the Wall Street Journal, citing among other things, language from a court-approved consent decree as part of Activision’s 2023 $54 million settlement over the California suit. It states: “no court or any independent investigation has substantiated any allegations that: there has been systemic or widespread sexual harassment at Activision Blizzard [or] that Activision Blizzard senior executives ignored, condoned, or tolerated a culture of systemic harassment, retaliation, or discrimination.”) On the evening of January 20, I was incredulous. How do you write a four page legal threat about a week-old article and miss this? While scrambling to also make my kids dinner, I wrote a lengthy reply to Clare Locke’s lawyers, basically asking them to cool it with the threats and to start making sense. In part, I wrote: I hope you can understand why I am having trouble understanding what you’re asking for, when the statement you’re demanding to see in Game File’s article already appears in Game File’s article. Actual malice, as you know, refers to a reckless disregard for the truth. I’m not sure what your argument is when my article already states your client’s position. Here is where I should remind you, the reader, that I am an independent journalist. I publish on Substack, and have availed myself of the Substack Defender program that provides writers on the platform with legal support. But I’m no Wall Street Journal or New York Times, nor even IGN or GameSpot when it comes to such things as, well, having a legal department. There are more fun things for me to do as an independent journalist than writing back to a powerful law firm representing a very rich person. On the evening of January 20th, I was just trying to cook some pasta, broccoli and chicken nuggets for hungry twins. Nevertheless, I wrote back to them. Two hours later, I got a reply. Summarizing: A lawyer for Clare Locke said they’d “reviewed an incomplete version” of my article and they “apologize for the confusion.” (My guess: Someone didn’t read past the piece’s paywall, even though they’d had a full week to scrounge up the funds to do so. What I’d published above the paywall was balanced, as was what came after.)1 That was almost that, but something about the situation bothered me. The letter had been marked “confidential.” I hadn’t agreed to that, and I disliked the idea that powerful people on the beat that I cover would act like they could unilaterally control what I might tell my readers about. On the morning of the 21st, having already gotten the powerful law firm to back off, I oh-so-wisely re-approached them with just one more thing. I thanked them for clearing things up the night before but noted that I’d never agreed to keep their letter confidential. I’m all for agreeing with a source to keep things off the record, but that’s the thing. We have to agree. You can’t just declare it. I’m not bound by that. I wrote to Clare Locke’s lawyer and said, in part: I trust the matter is resolved. It was disappointing to have to spend less time with my kids last night in order to address your legal letter. Family time’s precious. I will add, for clarity’s sake, that, while your letter stipulated that it was confidential, I did not agree to those terms. In the future, should you wish to communicate with me confidentially, I am happy to agree to classifying our communication as “off the record” prior to the actual communication—as is standard with any professional journalist. The firm’s lawyer replied, not directly addressing the confidentiality issue but asserting that the matter was resolved. Why I didn’t write about this until now In May, I told this story on an episode of Simon Parkin’s podcast My Perfect Console, but I held off on sharing it directly with Game File readers. I held off to avoid stepping on the toes of another reporter, the journalist Mikhail Klimentov. He’d interviewed me in the spring of 2025 about an investigation he was working on regarding Bobby Kotick lawyers pressing the media to add the California settlement language to stories referencing the 2021 lawsuits. And about how some outlets had changed their stories and how some simply deleted them. Initially, I was a third-party source for Klimentov’s reporting, providing on-the-record context about the state of the games media. I’d heard about the letters but hadn’t put the time into pursuing the story. I thought it was interesting, and I was glad he was covering it. When the outlet that Klimentov was going to run his reporting in dropped the story, I began talking to him about potentially publishing his reporting on Game File. This was tentative. Then, in January, when I got my own Clare Locke letter, I told Klimentov that I didn’t think it would make sense for me to publish him, not with me now being part of the story. I had my own version of this situation to tell. But I wished him well and said I’d refrain from telling my tale until he could get his reporting out there. Last Friday, Klimentov finally ran his investigation, in a nearly 48-minute video report for People Make Games. It covers various Clare Locke letters, how media outlets reacted to them and what to make of all this. His video weighs the merits of Kotick’s request and looks at some of the articles that were changed (one of which had a glaring error). I highly recommend watching it: (Note, I did some editorial consulting for a People Make Games video last year but nothing to do with this report.) While many outlets haven’t left any public evidence that they updated their Kotick coverage at Kotick’s counsel’s request, at least one has. Back in October 2025, the mainstream outlet Reuters applied the most transparent article update I’ve seen. On the 3rd of the month, they published an article about the state of the Swedish pension fund’s lawsuit. Days later, they added this: In an October 7 letter sent after publication of this article, Kotick’s defamation counsel disputed claims of widespread harassment at Activision. “Not a single investigation, court finding, verdict, or ruling ever concluded that there was any merit” to the allegations of widespread harassment at Activision, Tom Clare and Nick Brechbill of Clare Locke wrote. I’ve never added a statement to my article on Game File, because none was needed. Not for fairness’ sake, nor to meet any demands of Kotick’s lawyers. I’ve nevertheless wanted to be transparent with Game File readers. If someone powerful is questioning my reporting, is threatening a lawsuit over it… if that threat is part of a pattern involving other games media outlets and if, in my case, the whole thing ran into a ridiculous ditch, I want you to know about it. I also share this as a real example of how I handle threats to Game File. I stand up for my own reporting, even when it’s not comfortable to do so. (In that same category of standing up for the work I do, I’ll point to an incident in late August. Asocial media post I published to X/Twitter regarding reporting I did about Take Two and GTA VI was hit by bogus copyright claim by a firm working for the publisher. I pushed back and got it reversed; even while a bigger games media outlet let themselves be censored. This is the other reason I’m sharing this story: To emphasize that dealing with threats from powerful people is one of the costs of covering the video game industry independently and as fearlessly as possible. This is where you come in. Your support, through free and paid subscriptions (sign up here!), can help me keep doing that. It can ensure that I’ve got the back-up I need. And it can help make fiascoes like this even less of a worry, so I can spend my evenings dealing with more important things, such as making sure I steam the kids’ broccoli just right. 1 That pension fund lawsuit I wrote about in January has all but gone away. In May, the fund and Activision Blizzard owner Microsoft agreed to settle. Lawyers for the fund brokered a $250 million settlement for former Activision Blizzard shareholders. In the settlement, the fund’s lawyers changed their rhetoric. Where once they’d questioned the meaning of the California settlement language, they adopted a version of it for themselves. Several weeks ago, while seeking to get a court to sign off on the terms of the settlement, they proposed their fee for their work in the case: $60 million.
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