• Jeffrey Katzenberg and Meg Whitman’s Quibi mobile streaming service, which is expected to launch in 2020, is seeking to raise an additional $1 billion after raising that amount last year, according to four people familiar with the matter, though one source close to the company said that no final determination has been made about how much money to raise or when the process will start. Quibi previously received investments from Warner Bros, as well as tech companies and Silicon Valley firms. (The Information)

• A spokesperson has confirmed that Walt Disney Studios and 20th Century Fox are preparing for the latest round of layoffs, with a source saying that the cuts will specifically impact film staff. Layoffs, which are expected to take place in the publicity and marketing departments today, are not likely to affect Disney’s TV business, with one person saying the cuts have no schedule or specific quota. (Variety)

• The CW and Netflix Inc. will reportedly not renew their output deal, with the network’s three new shows being individually shopped for streaming by the studios that produce them. Next season’s “Batwoman” is said to be reserved for WarnerMedia’s streaming service, while past CW shows such as “Riverdale” and “The Flash” will remain on Netflix. (Deadline Hollywood)

• Sarah reports: Kevin Reilly, president of TBS and TNT and chief creative officer of Turner and direct-to-consumer, shared details at the WarnerMedia upfront about the streaming service set to launch in 2020, which will initially feature content from the WarnerMedia library — but information about whether that library content will include popular shows such as “Friends” or “The Big Bang Theory” was noticeably absent. He also said the company will introduce an ad-supported component to the streaming service during the second phase of the launch.

• Reilly countered reports that the next season of TNT drama “The Alienist” will air on the streaming service first, saying it will initially appear on the cable channel.

• Data was the buzzword for the ad sales portion of the event, which closed out the morning, with ad sales head Donna Speciale emphasizing that what sets WarnerMedia apart from its competitors is its access to AT&T data and being able to offer guaranteed business outcomes to advertisers. It served as a contrast to Disney’s upfront, which briefly focused on the sales pitch but then quickly shifted to highlight its content.

• Media buyers were mentioning that at this year’s presentations, the first after major mergers, companies focused more on the content and programming their networks have to offer (shown off with sizzle reels and lots of star power), as opposed to the types of ad buys available. More emphasis was also placed on streaming this time around, although details about individual streaming services were scarce.

• In its first upfront since Les Moonves’ ouster, CBS Corp. acknowledged the scandal — though none of the top brass mentioned the longtime former CEO — but also sought to address criticism alleging a lack of diversity in programming. Jo Ann Ross, president and chief advertising revenue officer, said the network is “pushing for fairness and inclusion both in our programming and our business,” and added that the new fall lineup reflects that. In terms of streaming, Ross made sure to note that CBS All Access has been an ad-supported service from the beginning. (AdAge)

• On tap today: The CW will wrap up the major network presentations this morning, unveiling the three new shows that will join all of its current programming next season.

Vice Tries to Turn the Page by Making Content for Others
Brooks Barnes, The New York Times

Danny Gabai was used to being ignored. For years, he ran what may have been Vice Media’s most uncool business — the production of feature films, made to be shown in theaters.

Golden Globes Tweak Rules to Embrace Episodic Anthology Series
Libby Hill, IndieWire

Episodic anthology series are being welcomed to the Golden Globes with open arms after a rule change announced by the Hollywood Foreign Press Association on May 15.

WarnerMedia touts Xandr integration, readying ad-supported streaming service
Andrew Blustein, The Drum

Sporting a new name and a new parent company, WarnerMedia leaned into its partnership with Xandr at the company’s first upfront presentation post-AT&T acquisition.

Gannett Set to Win Proxy Fight With Digital First
Cara Lombardo, The Wall Street Journal

Gannett Co. is poised to retain control of its entire board in a proxy fight with a hedge-fund-backed rival that made a hostile bid for the USA Today owner, according to people familiar with the matter.

Verve May Break Agency Ranks and Sign Writers Guild “Code of Conduct”
Jonathan Handel, The Hollywood Reporter

Verve, an agency primarily representing writers and directors, has held discussions with the Writers Guild of America regarding signing the guild’s Code of Conduct, The Hollywood Reporter has learned from multiple sources.

Harvey Weinstein’s Former Studio Seeks Liquidation in Bankruptcy Court
Michael Corkery, The New York Times

Harvey Weinstein’s former movie studio is seeking to liquidate in bankruptcy, a final blow to a prestigious Hollywood institution that imploded when Mr. Weinstein was accused of abusing multiple women.

Paramount & SP Media Group Make Superhero Play With Atlas Comics Deal & Universe Plan, Akiva Goldsman To Oversee Writers’ Room
Andreas Wiseman, Deadline Hollywood

Comic book fans rejoice: the superhero scene could be getting even busier. Steven Paul’s SP Media Group (SPMG) has entered into an agreement to acquire a majority interest in the Atlas Comics library, it was announced this morning in Cannes, with Paramount aboard for a first-look deal.

TV Networks’ Fall Lineup Is Light on New Shows
Joe Flint, The Wall Street Journal

Broadcast networks will debut fewer shows next season than in previous years, a sign of how hard it is for new productions to establish themselves in a world where viewers have hundreds of options.

CBS Unveils Its New Lineup After a Season of Crisis
Edmund Lee and John Koblin, The New York Times

CBS will finish the 2018-19 season as the most-watched broadcast network for the 11th year in a row, making for the perfect pitch to advertisers at its annual presentation on Wednesday during the series of events known as the upfronts.

The Big Bang Theory’s long reign, explained
Todd VanDerWerff, Vox

One of the biggest TV shows in recent history is about to end, after a long, hugely successful run. Viewers are sharply divided.

Bazinga! Streaming Deal for ‘The Big Bang Theory’ Comes Into Play
Joe Flint, The Wall Street Journal

There is still one unresolved plotline in “The Big Bang Theory,” which ends its 12-year run Thursday on CBS: Who will get the hit sitcom’s streaming rights?

Over 34 million people use Amazon Fire TV
Amrita Khalid, Engadget

Amazon Fire TV has over 34 million monthly active users, further widening its lead over competitor Roku. Jenn Prenner, head of global marketing, growth and engagement for Fire TV, confirmed the numbers this week in a panel on the Pay TV Show.

WarnerMedia isn’t Disney. It isn’t Netflix. That may be a good thing.
Steven Zeitchik, The Washington Post

Conan O’Brien was, as he often does, saying what others wouldn’t. “I like their slogan,” the TBS host said at the WarnerMedia upfront Wednesday, offering a quip about his bosses’ attempt to go digital.

CBS’ Upfront Accentuates the Positive, Glosses Over the Negative
Daniel Fienberg, The Hollywood Reporter

Stephen Colbert, early in his monologue Wednesday at CBS’ upfront presentation, joked that he’d been given a massive packet of information on the network’s successful 2018-19 season, but that instead he’d chosen to read the four-page Bill Barr summary.

After Honing TBS’ Comedic Voice, WarnerMedia Risks Damaging the Brand by Adding Dramas
Jason Lynch, Adweek

As much as Disney and AT&T’s WarnerMedia wouldn’t want to admit it, they have a lot in common. Both entertainment companies just went through massive mergers (Disney and Fox; AT&T and Time Warner), are in the midst of creating new streaming services to take on Netflix (each rolling out within the next year) that will draw on the assets of their respective companies, and within a 24-hour period, both pitched advertisers on their respective visions during their upfront presentations.

‘Booksmart’ and How Hollywood Stopped Fearing Lesbian Teens
Eleanor Stanford, The New York Times

Jokes about masturbation, crushing on a cool girl from afar, messy first sexual experiences, bodily fluids in places they shouldn’t be, porn in places it shouldn’t be. Olivia Wilde’s directing debut “Booksmart” has many of the moments we’ve come to expect from a gross-out high school comedy, except this time, the teenager on a merry quest for sexual discovery is a lesbian.

In the End, ‘Game of Thrones’ Became a TV Show
Alison Herman, The Ringer

There’s no one explanation for how Game of Thrones became a culture-spanning phenomenon. Slipping into the microscopic gap between the Golden Age of Television and Peak TV, HBO’s fantasy epic earned an investment of resources from its network that would have been unthinkable previously for such a budget-conscious medium.

So long to ‘The Big Bang Theory,’ which was smart about being dumb about being smart
Hank Stuever, The Washington Post

If cultural criticism was strictly a numbers game, we would never have heard much about “Mad Men,” “Breaking Bad” or “The Americans.” We wouldn’t know enough about the TV shows that starred Louis C.K., Aziz Ansari or Jeffrey Tambor to merit the outrage that pushed those guys off the grid of acceptability.