Good Morning Media!

研报英文原文证据摘录

Good Morning Media!

Equity Research

Industry Update — July 1, 2026

Media

Our Call Steven Cahall

Good Morning Media! is our daily take on the relevant newsflow affecting the Media & Equity Analyst | Wells Fargo Securities, LLC

Steven.Cahall@wellsfargo.com | 212-214-8240

Cable sectors.

Omar Mejias

Equity Analyst | Wells Fargo Securities, LLC

Not so fast, mate. UK Culture Secretary Lisa Nandy is considering intervention in PSKY’s Omar.Mejias@wellsfargo.com | 787-370-9353

$110bn WBD deal on public-interest grounds, citing media plurality concerns across news Wojtek Majerczak

and on-demand services. The companies have until July 6 to respond; if Nandy proceeds, Associate Equity Analyst | Wells Fargo Securities, LLC

Ofcom would review public-interest issues while the CMA continues its competition Wojtek.Majerczak@wellsfargo.com | 212-214-5480

review, with an Aug. 7 deadline on whether to open a deeper probe. PSKY says it sees no Christopher Pei

UK media-plurality issue. (Source: Bloomberg) Associate Equity Analyst | Wells Fargo Securities, LLC

Christopher.Pei@wellsfargo.com | 212-214-5308

Kinda like a big deal. STGW will become IBM's new lead creative partner, ending a 32-year

relationship w/ Ogilvy. Anomaly and Code & Theory will be joint leads. IBM is expanding its

enterprise AI offerings, and the competitive creative review focused on (according to Ad

Age): "strong creative, strong tech and an ability to help IBM 'move in a lot more flexible

way, with a lot more speed.'" STGW's add'l recent wins incl Mondelez, Hershey's, Heineken

& Allwyn. (Sources: Ad Age, co reports)

Telco tunes in. SPOT struck its first Indian telco partnership with Vodafone Idea (Vi),

bundling three months of Spotify Premium at no extra cost into eligible Vi postpaid plans.