News of Note—Viacom, Charter and Magnet

News of note
(Pixabay)

Here are the stories we’re following this morning:

> Viacom is making significant cuts at Awesomeness, disclosing plans to lay off nearly 100 employees. Variety article

> Charter is launching a 24-hour local news channel in November that will be available in the 1.5 million homes in greater Los Angeles. LA Times article

> Digiday looks at the new holding companies such as Magnet that have popped up to take advantage of OTT demand for content. Article

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Private equity firm TPG is reportedly looking to sell off Astound – its U.S. cable operator group that includes Wave Broadband, RCN and Grande.

Mediacom is riding to Charter’s defense as it petitions the FCC for early release from conditions tied to its Time Warner Cable acquisition.

Charter received a favorable ruling in its effort to lift merger conditions that have prevented it from charging interconnect fees to SVODs.