Core Viewpoint - The New York Times has filed a lawsuit against AI search startup Perplexity for copyright infringement, marking its second legal action against an AI company, as part of a broader strategy by publishers to negotiate compensation for the use of their content in AI products [1][8]. Group 1: Lawsuit Details - The lawsuit claims that Perplexity provides commercial products that substitute for The Times without permission or remuneration [1]. - The Times alleges that Perplexity's retrieval-augmented generation (RAG) products generate responses that often reproduce original content verbatim or near-verbatim, including copyrighted works from The Times [4][6]. - The lawsuit seeks damages for the harm caused and aims to prevent Perplexity from using its content in the future [11]. Group 2: Industry Context - The lawsuit is part of a long-standing trend where publishers have historically sued new technology companies, from radio to social media, to protect their content [7]. - Other media outlets, including the Chicago Tribune, have also filed lawsuits against Perplexity, indicating a growing concern among publishers regarding AI's impact on original journalism [1][10]. - The Times has previously sent a cease and desist letter to Perplexity and has attempted to negotiate terms for content use over the past 18 months [7]. Group 3: Perplexity's Response and Initiatives - In response to compensation demands, Perplexity launched a Publishers' Program that shares ad revenue with participating outlets and introduced Comet Plus, which allocates 80% of its $5 monthly fee to publishers [2]. - Perplexity's head of communications stated that publishers have historically struggled to win legal battles against new technologies, suggesting a belief that the lawsuit may not succeed [7]. - The company has faced accusations from other outlets, including Wired and Forbes, regarding unethical content scraping practices [11]. Group 4: Broader Legal Landscape - The Times is also involved in ongoing litigation against OpenAI and Microsoft, claiming that they trained AI systems using its articles without compensation [8]. - A related case against Anthropic has set a precedent regarding fair use in AI training, highlighting the complexities of copyright law in the context of AI [9]. - The legal pressure on Perplexity is mounting, with multiple publishers and media companies pursuing similar claims against the startup [10]. Group 5: Potential for Collaboration - Despite the lawsuit, The Times has shown willingness to collaborate with AI firms that compensate for its content, having signed a multiyear deal with Amazon for content licensing [12]. - Other publishers have also engaged in licensing agreements with AI companies, indicating a potential path forward for monetizing content in the AI landscape [12].

Core Insights - People Inc. has announced a strategic content partnership with Meta, becoming the first lifestyle publisher to provide real-time content to Meta AI users across various categories [1][5] - The partnership includes well-known People Inc. brands such as PEOPLE, Better Homes & Gardens, Allrecipes, Food & Wine, Southern Living, Verywell Health, and InStyle [1][5] - The deal aims to enhance user experience by delivering tailored lifestyle content to Meta AI users, ensuring proper attribution and links back to People Inc. websites [2] Company Overview - People Inc. is recognized as the largest digital and print publisher in America, with over 175 million monthly users relying on its content for inspiration and decision-making [4] - The company operates more than 40 iconic brands, including PEOPLE, Food & Wine, Better Homes & Gardens, and Investopedia [4] - People Inc. is based in New York City and operates as a business unit of IAC (NASDAQ: IAC) [4] Strategic Direction - The CEO of People Inc., Neil Vogel, emphasized the importance of trusted content for future AI innovations and expressed pride in being Meta's first lifestyle content partner [3] - The partnership is part of a broader strategy to accelerate collaborations with AI leaders, following previous agreements with OpenAI and Microsoft [3]

NEW YORK, NY--(BUSINESS WIRE)--USA TODAY Co., Inc. (NYSE: TDAY), announced a multi-year strategic partnership with Meta to access new and archival content from USA TODAY, more than 200 USA TODAY Network local publications and the network of USA TODAY Sports wires. This partnership enables Meta's family of apps and devices to feature news and timely information from trusted local and national newsrooms. "As the largest local-to-national publishing and digital media organization in the country, t. ...

Financial Data and Key Metrics Changes - The company reported a mixed revenue picture with strong growth in research and AI, offset by declines in the learning segment [6][10] - Adjusted EBITDA grew 8%, and adjusted operating margin expanded 250 basis points to 18.8% [27][34] - Free cash flow was a use of $108 million, a 17% or $22 million improvement from the prior year [32] Business Line Data and Key Metrics Changes - Research publishing delivered strong 7% growth on worldwide demand, with record submission levels [6][10] - Learning segment revenue declined 11%, primarily due to headwinds in professional and academic areas [30] - Research solutions declined 6% due to lower corporate spending on advertising and recruiting [29] Market Data and Key Metrics Changes - The company noted strong demand across all regions, with double-digit submissions growth in China, India, Japan, the U.K., Germany, and the U.S. [10][11] - Corporate R&D represents a substantial future growth opportunity, currently making up only 10% of the company's revenue base [19] Company Strategy and Development Direction - The company aims to lead in research and drive growth in AI and adjacent markets, with a focus on operational excellence and discipline [10][12] - Strategic partnerships with AI innovators are expected to yield early results, enhancing the company's position in the AI economy [17][25] - The company is prioritizing digital offerings and inclusive access to stabilize revenue in the learning segment [9][30] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in the learning segment due to external factors, including changes in inventory management from Amazon and soft consumer spending [9][30] - The company expects learning declines to moderate in the second half of the year, although revenue is anticipated to be down for the full year [10][34] - Guidance for adjusted EBITDA margin, adjusted EPS, and free cash flow has been reaffirmed, with revenue growth expected to be in the low single digits [34] Other Important Information - The company executed another AI licensing project, bringing total AI training revenue close to $100 million in less than two years [7][20] - Share repurchases increased by 69% to $21 million, with a current yield around 3.9% [8][33] Q&A Session Summary Question: Research revenue growth and potential upside - Management indicated that they expect to grow at the top of the market growth, with strong article growth as a leading indicator [41][46] Question: AI licensing revenue and pipeline opportunities - The company confirmed a $6 million licensing deal with an existing LLM customer, indicating a continuing pipeline for AI opportunities [48][49] Question: Decline in learning segment and inventory management impact - Management noted that the decline is primarily cyclical rather than structural, with expectations for normalization in the second half [54][56] Question: Share buybacks and capital allocation strategy - The company maintains a disciplined approach to capital allocation, balancing share buybacks with growth opportunities and managing leverage [58][60]

Financial Data and Key Metrics Changes - The company reported a strong adjusted EBITDA growth of 8% and an adjusted operating margin expansion of 250 basis points to 18.8% [24][31] - Free cash flow was a use of $108 million, representing a 17% improvement from the prior year [29] - Net debt to EBITDA improved to 2.0 times, down from 2.2 times in the prior year [31] Business Line Data and Key Metrics Changes - Research publishing experienced a 7% revenue growth driven by worldwide demand, with a 220 basis point improvement in EBITDA margin to 33.5% [6][24] - Learning segment revenue declined by 11%, primarily due to headwinds in professional and academic sectors, with professional books down 16% [27] - Author-funded open access grew by 28%, contributing to the overall strength in research [9][24] Market Data and Key Metrics Changes - The company noted strong demand for research across all regions, with double-digit submissions growth in China, India, Japan, the U.K., Germany, and the U.S. [9][12] - Corporate R&D spending represents a significant future growth opportunity, currently making up only 10% of the company's revenue base [17] Company Strategy and Development Direction - The company aims to lead in research and capitalize on AI growth, integrating scientific research into new technologies [5][9] - Strategic partnerships with AI innovators like AWS and Anthropic are being leveraged to enhance growth opportunities [10][15] - The focus is on operational excellence, with initiatives to reduce corporate costs and improve margins [28] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in the learning segment due to external factors, including changes in inventory management from Amazon and soft consumer spending [8][41] - The outlook for learning revenue is expected to decline for the full year, but declines are anticipated to moderate in the second half [9][31] - The company reaffirmed guidance for adjusted EBITDA margin and adjusted EPS while narrowing revenue outlook to the lower end of the range [31] Other Important Information - The company increased share repurchases by 69% to $21 million this quarter, with a current yield of around 3.9% [7][30] - The company is actively pursuing acquisitions of high-impact journals to strengthen its portfolio [30] Q&A Session Summary Question: Research revenue growth and potential upside - Management expressed optimism about maintaining growth at the top end of market expectations, driven by strong article submissions [36][37] Question: AI licensing revenue and pipeline opportunities - The company confirmed a $6 million licensing deal with an existing LLM customer, indicating ongoing demand for AI training [37][38] Question: Decline in learning segment and inventory management impact - Management noted that the decline is primarily cyclical rather than structural, with expectations for normalization in the second half [41][42] Question: Share buybacks and capital allocation strategy - The company emphasized a disciplined approach to capital allocation, balancing share buybacks with maintaining leverage ratios [44][45]

Core Insights - Brown-Forman B (BF.B) reported quarterly earnings of $0.47 per share, missing the Zacks Consensus Estimate of $0.48 per share, and down from $0.55 per share a year ago, representing an earnings surprise of -2.08% [1] - The company posted revenues of $1.04 billion for the quarter ended October 2025, surpassing the Zacks Consensus Estimate by 0.85%, but down from $1.1 billion year-over-year [2] - Brown-Forman B shares have declined approximately 20.8% year-to-date, contrasting with the S&P 500's gain of 16.5% [3] Earnings Outlook - The future performance of Brown-Forman B's stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [4] - The current consensus EPS estimate for the upcoming quarter is $0.48 on revenues of $1.01 billion, and for the current fiscal year, it is $1.67 on revenues of $3.84 billion [7] Industry Context - The Beverages - Alcohol industry, to which Brown-Forman B belongs, is currently ranked in the bottom 17% of over 250 Zacks industries, indicating potential challenges ahead [8]

Financial Performance - Adjusted revenue decreased by 1% to $422 million, but excluding divestitures and foreign exchange impacts, the decrease was driven by an 11% decline in Learning, offset by 5% growth in Research [38, 41] - Adjusted EPS increased by 12% to $1.10, driven by a 14% increase in Adjusted Operating Income [38, 41] - Adjusted EBITDA increased by 8% to $115 million, with the Adjusted EBITDA margin up 240 basis points to 273% [38, 41] Segment Performance - Research revenue increased by 5%, with Research Publishing up 7% and Research Solutions down 5% [41, 14, 42] - Learning revenue decreased by 11%, with Academic down 8% and Professional down 16% [41, 45] AI Initiatives - Secured a $6 million LLM training licensing agreement in Q2, bringing year-to-date AI revenue to $35 million [14] - Launched the AI Gateway, a content enrichment and distribution platform, and have over 30 publisher partners for the Nexus content licensing service [8, 14, 25] Operational Efficiency and Capital Allocation - Corporate expenses reduced by 18% in Q2 [8, 14, 52] - Share repurchases increased by 69% to $21 million in Q2, with a total of $73 million returned to shareholders YTD through dividends and repurchases [8, 54] Outlook - The company is on track to deliver full year Free Cash Flow outlook of $200M [56]

NEW YORK--(BUSINESS WIRE)--The Adventure Sports Network, owned by The Arena Group, is excited to announce the launch of new print-on-demand editions for three of its leading titles: BIKE Magazine, TransWorld SKATEboarding, and Snowboarder. On Friday, Dec. 5, readers worldwide will be able to order premium-quality, print-on-demand copies of these iconic adventure publications, delivered directly to their doorsteps. Each issue offers an immersive look into the world of adventure sports, featuring. ...

Scholastic agreed to sell its New York City headquarters as it works to streamline its publishing business and monetize assets. https://t.co/EYYGWW7mMS ...

Core Insights - Scholastic has agreed to sell its New York City headquarters as part of a strategy to streamline its publishing business and monetize assets [1] Company Strategy - The decision to sell the headquarters indicates a focus on optimizing operations within the publishing sector [1] - Monetizing assets is a key component of the company's strategy to enhance financial performance [1]