Hi and welcome to Insider Advertising for June 4. I’m deputy editor Lucia Moses, filling in for Lauren Johnson, and here’s what’s going on:
If this email was forwarded to you, sign up here for your daily insider’s guide to advertising and media.
MDC Partners’ proposed merger with Stagwell is facing growing investor opposition
Read the story.
Neeva, the ad-free subscription search startup built by ex-Googlers, is readying a July launch and pledging to share 20% of its revenue with publishers
- Ad-free subscription search engine Neeva is readying a July launch, Lara O’Reilly reports.
- It’s founded by ex-Googlers and will be an ad-free, privacy-focused search engine that requires a monthly subscription, set at around $5.
- They’re betting people will be willing to pay for a privacy-focused search product that favors useful results over driving users to view ads.
Read the story.
Former MoviePass execs agree to $400,000 settlement with 4 California District Attorneys’ offices who had alleged ‘unlawful business practices’
- Ex-MoviePass executives Mitch Lowe and Ted Farnsworth reached a settlement agreement requiring them to pay $400,000 in penalties and restitution, Jason Guerrasio reports.
- According to a settlement, the pair allegedly engaged in a variety of “unlawful, unfair, and fraudulent acts and practices” including falsely advertising and charging customers after they canceled their subscriptions.
- MoviePass soared in popularity but burned through hundreds of millions of dollars and ended up shutting down in September 2019.