On today’s news digest: TikTok Files Lawsuit Against Ban Bill; OpenAI Partners with Publishing Group; RTL Posts 2.6% YoY Revenue Growth
TikTok and its Chinese-owned parent company ByteDance have filed a lawsuit against the US government, following the passing of the bill which will ban the video app in the country unless sold by January 2025. TikTok maintains that the legislation is unconstitutional, breaching the freedom of speech rights in the First Amendment. TikTok has also made clear that a sale would not be possible, with a standalone US app now being commercially or technologically viable within the demanded timeframe.
Only a week after forging a deal with the Financial Times, OpenAI has formed another publisher partnership. Its latest deal has been struck with magazine giant Dotdash Meredith, publisher of People and InStyle magazines among others. The collaboration will see Dotdash Meredith’s content licensed to ChatGPT, while the publishing group will be able to use the AI company’s models for its ad-targeting product, D/Cipher (which helps advertisers find consumers without cookies).
Meanwhile, RTL has posted 2.6% growth for group revenues year-over-year, bringing its total revenue to €1.3bn (£1.1bn). Ad revenues rose 10% year-over-year, reaching €686m (£591m) during the first quarter of 2024. The largest portion of its ad revenues were made up by TV advertising, with digital and radio/print contributing less to gains.
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