Daily MIC: Meta Unveils AI-Powered Creator Infrastructure, Tools; Music Labels Petition Supreme Court to Overturn Copyright Termination Ruling; Scripps Targets Local Sports Rights

Research evidence excerpt

Daily MIC: Meta Unveils AI-Powered Creator Infrastructure, Tools; Music Labels Petition Supreme Court to Overturn Copyright Termination Ruling; Scripps Targets Local Sports Rights

Media, Internet & Communications Daily June 23, 2026

TMT Research Guggenheim

GSTMTResearch@guggenheimpartners.com Daily MIC: Meta Unveils AI-Powered Creator

Michael Morris, CFA Infrastructure, Tools; Music Labels Petition Supreme michael.morris@guggenheimpartners.com

804 253 8025 Court to Overturn Copyright Termination Ruling;

Curry Baker Scripps Targets Local Sports Rights curry.baker@guggenheimpartners.com

804 253 8029

Charles Wilber RELEVANT, TIMELY OPINION, ANALYSIS AND NEWS FLOW FOR TMT

charles.wilber@guggenheimpartners.com INVESTING

804 335 3977

Latest Research: Taylor Manley

taylor.manley@guggenheimpartners.com DASH: Manley highlights long-term opportunities and notes YTD pressure on margins, 804 253 1336 slowing Order growth, and AI-related risks driving expectations for shares to remain

Grayson Glenn range-bound in the near-term

grayson.glenn@guggenheimpartners.com

804 253 8053 Please contact your Guggenheim Securities, LLC representative for underlying

excel details

Key News Flow: META, UMG.AS, WMG, SONY, SSP, PSKY, CMCSA, FOXA, NFLX,

Ticker Price Rating Bytedance, DIS, GOOG/L, ITV.L, TikTok, CART

DASH 172.08 Buy

LATEST RESEARCH - SNAPSHOT

DASH: Manley - Structural or Cyclical? Waiting Game Persists, Long-Term

Opportunities Remain (link) - Our BUY thesis is underpinned by the view that the

Street underappreciates 1) margin expansion runway, 2) top-line growth durability, and

3) proprietary platform value. We believe each of these items have been pressured in

2026 YTD noting 1) underwhelming 2026 Adjusted EBITDA margin guidance reaffirmed,