• The Walt Disney Co. filed a federal lawsuit against Florida Gov. Ron DeSantis on Wednesday for his ongoing efforts to strip the company of control of the board overseeing the Disney World property in Central Florida and surrounding areas. In its complaint, Disney said it was left with “no choice” but to take legal action over the Republican governor’s “relentless campaign to weaponize government power.” (Deadline) 
• Antitrust regulators in the United Kingdom issued a decision to block Microsoft Corp.’s proposed $69 billion acquisition of video game maker Activision Blizzard Inc. over concerns the deal would significantly hamper competition in the cloud gaming market. The companies said they plan to appeal the ruling. (The Associated Press) 
• Meta Platforms Inc. reported a 3% year-over-year increase in quarterly revenue, breaking a streak of three consecutive quarters of decline. On its earnings call, Meta CEO Mark Zuckerberg said “slowing hiring, flattening our management structure” will continue to improve the tech giant’s performance in future quarters. (The New York Times) 
• The Wendy’s Co. announced it is partnering with ConAgra Foods Inc. to sell canned versions of its chili in grocery stores nationwide. The product, which formally rolls out later this spring, will retail for $4.49. (CNN)

The Majority of Beer Drinkers Support Brand Partnerships With Trans Spokespeople

Morning Consult

Twitter Bolsters Charm Offensive With Cannabis Advertisers

Katie Deighton, The Wall Street Journal

The social-media company is now letting cannabis companies post pictures of their products in ads, less than three months after it first opened the door to their paid-for posts with heavier limitations.

Amazon quietly removes editorial recommendations from search results to replace them with more ad units

Cale Guthrie Weissman, Digiday

Amazon search results are no longer showcasing so-called “editorial recommendations,” marking the end of an opaque program that many viewed as pay-for-play.

This Is What Caused Meta’s Overspending Glitch

James Hercher, AdExchanger

Meta has acknowledged through sales reps that the issue stemmed, at least in part, from the web-to-app optimization product, according to four advertisers who spoke to AdExchanger. 

Tucker Carlson Speaks Out in Twitter Video Two Days After His Ouster From Fox News

Stephen Russolillo and Alyssa Lukpat, The Wall Street Journal

Former host criticizes level of debate on TV and concludes with ‘See you soon’.

Tubi Founder & CEO Farhad Massoudi Departs As Fox Creates Tubi Media Group Led By Paul Cheesbrough

Nellie Andreeva, Deadline

Fox Corporation is restructuring its digital operations by forming the Tubi Media Group as Farhad Massoudi, founder and CEO of the Fox-owned free, AVOD platform Tubi, is leaving the company.

BuzzFeed’s Pivot to HuffPost Is Still Hampered by Ad Buyers Shirking News

Mark Stenberg, Adweek

The publisher has more direct traffic and greater reach than BuzzFeed News but shares its vulnerabilities.

Roku Pares Down Operating Losses, But Warns of More Ad Uncertainty

Caitlin Huston, The Hollywood Reporter 

The device and streaming company reported total active accounts of 71.6 million, in a slight increase from the previous quarter.

DraftKings Plans Streaming Video Service With Sports Podcasts

Gerry Smith, Bloomberg

The service is expected to be free and supported by advertising, people with knowledge of the matter said. The shows will be videos of podcasts the company sponsors and are expected to debut in coming weeks, according to the people, who asked not to be identified discussing the details.

YouTube introduces AI-powered music ad solutions targeting Gen Z

Webb Wright, The Drum 

The news arrives at a moment in which a growing number of major tech brands are investing more heavily in AI, a technology that has existed for decades but has strongly captivated Silicon Valley and the marketing world in recent months.

Reddit Hires Former Meta Exec as It Continues to Woo Marketers

Catherine Perloff, Adweek

Reddit is drawing new agency adherents, although it’s still a place some brands fear.

Meta says time spent on Instagram grew 24% thanks to TikTok-style AI Reel recommendations

Darrell Etherington, TechCrunch

Meta shared some updated engagement info around its platforms on its Q1 2023 quarterly earnings call on Wednesday, with Meta CFO Susan Li joining CEO and founder Mark Zuckerberg to field questions from analysts about its results.

Tweets Become Harder to Believe as Labels Change Meaning

Steven Lee Meyers et al., The New York Times

The elimination of check marks that helped authenticate accounts has convulsed a platform that once seemed indispensable for following breaking news.

New Gen Z-centered app RTRO launches with ChatGPT and focus on messaging  

Liz Flora, Glossy

Amid talk of social media burnout, brands are searching for the next big platform to reach Gen Z. Two marketing veterans are coming out with a new app that they say is the answer.  This week, executives from the marketing firm TH Experiential are launching new social app RTRO, which they expect to enter the iOS app store this week, pending approval from Apple. Emphasizing a focus on mental health by omitting addictive algorithms, the app aims to become a new group chat hub.

Twitter’s Verification Fiasco May End in Court

Chris-Stokel Walker, Wired

The law says you can’t falsely claim that celebrities are paying for Twitter Blue.

Snickers teams with top NFL prospect Young for Bryce Cream Bar

Sara Karlovitch, Marketing Dive 

Fans located in Kansas City, Missouri, the home of this year’s draft, can taste the confection at select locations. In-person tastings will also take place in Tuscaloosa, Alabama, the location of the University of Alabama, where Young attended school. Visitors to a Snickers landing page can enter to win a six-pack of the ice cream bar.

Bud Light fumbles, but experts say inclusive ads will stay

Dee-Ann Durbin, The Associated Press

Bud Light may have fumbled its attempt to broaden its customer base by partnering with a transgender influencer. But experts say inclusive marketing is simply good business — and it’s here to stay.

Target rolls out curbside returns as retailers hope convenience will boost sales

Melissa Repko, CNBC

The curbside-returns service, which began last week at roughly a quarter of Target’s nearly 2,000 stores nationwide, will be available across the chain by the end of summer. 

Chipotle CFO Says Lower-Income Customers Are Coming Back

Daniela Sirtori-Cortina and Leslie Patton, Bloomberg

Diners in households making less than $75,000, which make up about 40% of the chain’s customers, had pulled back in late 2022, Chief Financial Officer Jack Hartung said in an interview. But recently the gap in visit frequency with higher-income consumers closed quite a bit, he said.

Amazon to shut down Halo division, lays off some staff

Reuters

Amazon.com Inc. said on Wednesday it was shutting down its Halo division that sells health and sleep trackers as the technology giant kicks off wider company layoffs.

Who’s getting laid off in America, by salary range

Nate DeCamillo, Quartz

Unemployment claims by workers making more than $200,000 have soared in the past year. 

Jeep Maker Stellantis to Offer Buyouts to Hourly, Salaried Workers

Ryan Felton and Nora Eckert, The Wall Street Journal 

Buyout offers come as auto maker seeks to trim costs for EV transition.

Hybrid work and the rise of AI: How leaders can navigate a future in flux

Issie Lapowsky, Fast Company

McKinsey’s State of Organizations report outlines major shifts affecting organizations around the world—and offers advice on how to manage them.

Goodbye to the Dried Office Mangoes

Will Gottsegen, The Atlantic

Google is clawing back its famously lavish employee perks, sending a message that might be more symbolic than practical.

Starbucks is inviting staff on 2-hour coffee dates as it works to fix rift with unionizing employees

Eleanor Prignle, Fortune

The CEO of Starbucks is hoping to get staffers back on side by going back to what the business knows best: coffee.