The 11th Hour Dispatch – Friday, March 2, 2018

| March 2, 2018

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BINGE WATCH

Hulu has gained naming rights to Madison Square Garden’s 5,600-seat underground theater. The Hulu Theater at Madison Square Garden will host concerts, events, and, if they’re smart, ticketed binge marathons. The deal also gives Hulu branding rights throughout the theater and outside its Eighth Avenue entrance, as well as signage and digital branding assets in and around Penn Station. Hulu content will also be available in the theater’s lobby for eventgoers to entertain themselves while they wait to be entertained. Hulu plans to use the theater for its own upfront presentations, as well as show launches and promotional events.

YOUNG MONEY

The nation’s largest radio station operator, iHeartMedia, is gearing up to file for bankruptcy as early as this weekend after months of negotiations with creditors who hold over $15 billion of the company’s debt. Despite extensive deliberation, the company has been unable to agree on a deal with its biggest creditor group, Franklin Advisers Inc., and junior debtholders on how to split the equity in iHeartMedia’s reorganized radio business.

BIG BUSINESS

Snap is reportedly working on two new versions of the failed Spectacles for some reason. An inside source reports the new editions will drop this fall and will feature new colors and water-resistant frames. The third generation, which will come at some point after this fall, will reportedly feature two cameras, allowing 3D effects in recorded videos. That model might also include GPS for some reason and would see a price bump to $300 – a considerable jump from the current $130 price. Not sure why this is something Snap is pursuing after the shades were pretty much shunned by consumers the first time around when they stopped being coy and made the lenses available for purchase anywhere instead of out of vending machines in the middle of nowhere Catoosa, Oklahoma. Snap CFO Drew Vollero even admitted late last year that the company had to write off close to $40 million in unsold inventory.

NOTHIN’ BUT ‘NET

There’s now a pastrami-flavored beer, if a pastrami sandwich itself isn’t fulfilling your meat sweat needs.

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