Greetings N2K reader!

Vote on the winner of this week’s world famous news haiku competition™ in today’s poll! And now for something completely different…

—Matt Davis, Need2Know Chedditor

News You Need2Know

• Moderate GOPers force Obamacare showdown

• FCC chair faces firestorm over Jimmy Kimmel commen …

• Hollywood goes digital as Oscars head to YouTube

• Jeff Bezos scores headlines (like this one) for gi …

• The case for making failing movies

• Poll of the day: Weed stocks get higher… 🌿📈!

• Poll of the day: Absolutely nothin’

What’s the stock market up to, eh?

$SPX ( ▲ 0.79% ) $DJI ( ▲ 0.14% ) $NDX ( ▲ 1.38% )

Companies mentioned in today’s newsletter

$DIS ( ▲ 1.12% )  $GOOGL ( ▲ 1.93% )  $NFLX ( ▼ 0.83% )  $TLRY ( ▼ 4.19% )  $CGC ( ▼ 11.98% )  $CURLF ( ▼ 32.04% )  $MSOS ( ▼ 26.91% )  $TCNNF ( ▼ 23.23% )  $GTBIF ( ▼ 16.6% )  

Moderate GOPers force Obamacare showdown

Speaker Mike Johnson is defending his position as House leader after a rare rebellion within Republican ranks led four moderates to join Democrats in forcing a vote on extending expiring Obamacare subsidies.

“I have not lost control of the House, no,” Johnson stated emphatically when addressing concerns about his leadership during Wednesday’s press conference. The trouble is, if you have to explicitly deny a thing…

The upheaval began when GOP moderates — Reps. Brian Fitzpatrick (Pa.), Mike Lawler (N.Y.), Rob Bresnahan (Pa.), and Ryan Mackenzie (Pa.) — signed a discharge petition initiated by House Minority Leader Hakeem Jeffries (D-N.Y.). Their actions secured 218 signatures, the threshold required to bypass GOP leadership and bring the vote to the floor. Johnson acknowledged the challenge of governing with slim margins, saying, “We have the smallest majority in U.S. history. These are not normal times.”

The petition emerged after attempts to negotiate a compromise on extending the health care subsidies fell apart over the weekend. Following the moderates’ move, Johnson convened a meeting on the House floor, describing the conversation as “intense fellowship” and added, “Everybody stay tuned, we’re having conversations.” That’s the sort of thing I said just before my ex-wife left me. 

If no agreement is reached, a vote on the subsidies could take place as early as January, raising questions about internal GOP unity. “We’re working through very complex issues,” Johnson said, urging patience.

Again. That’s the sort of thing I said…ah…never mind.

Song of the Day: Tom Smith, ‘Life Is For Living’

Tom Smith's "Life Is For Living," a standout from his debut solo album “There Is Nothing In The Dark That Isn't There In The Light,” is a powerful, optimistic, cinematic acoustic track with a hopeful message about embracing life…just like this newsletter.

FCC chair faces firestorm over Jimmy Kimmel comments

FCC Chair Brendan Carr (not pictured above) faced heated criticism during a contentious hearing on Capitol Hill, as lawmakers from both parties grilled him over his remarks on late-night host Jimmy Kimmel, media regulations, and the agency’s independence. The controversy centers on Carr’s past comments urging local affiliates to scrutinize ABC’s $DIS ( ▲ 1.12% ) suspension of Kimmel after the host made controversial jokes about the assassination of conservative activist Charlie Kirk.

Defending his position, Carr said local broadcasters are “obligated” to evaluate content that “does not serve the public interest.” However, some lawmakers argued his actions crossed a line. “The FCC has become the Federal Censorship Commission,” Sen. Ed Markey (D-Mass.).

Sen. Ted Cruz (R-Texas) also weighed in, slamming Kimmel as “angry, overtly partisan, and profoundly unfunny” but cautioning against government overreach. “Government officials threatening adverse consequences for disfavored content is unconstitutional coercion that chills protected speech,” Cruz said.

Carr responded by clarifying his comments on Kimmel were not a threat to revoke FCC licenses, adding, “Any broadcaster that complies with the public interest standard is not at any risk at all.”

“You’ve launched investigations into every major broadcast network except for Fox,” Sen. Amy Klobuchar (D-Minn.) said.

Quote of the Day

Hollywood goes digital as Oscars head to YouTube

Jimmy Kimmel may still be on ABC but not the Oscars, any longer.

The Oscars are set to make the leap to digital streaming, with the Academy of Motion Picture Arts and Sciences announcing an exclusive five-year deal to broadcast the prestigious awards on YouTube $GOOGL ( ▲ 1.93% ) . Beginning with the 101st ceremony in 2029, this move marks the end of a long-running partnership with ABC, which has hosted the awards since 1976.

The transition aligns with the evolution of viewer habits, particularly among younger audiences who gravitate towards streaming. YouTube commands a substantial 13% of television viewing time in the U.S., surpassing Netflix $NFLX ( ▼ 0.83% ), which holds 8%, according to Nielsen.

While ABC had reservations about renewing their contract due to declining ratings, the academy's decision reflects a broader trend towards digital distribution. Neal Mohan, YouTube’s chief executive, praised the partnership, calling the Oscars “one of our essential cultural institutions.”

Should you check your 401(k) today?

👍️ 

Yes. Things took a turn for the better yesterday.

Jeff Bezos scores headlines (like this one) for giving $5 million to a neurodiversity charity

Amazon founder Jeff Bezos and his wife, Lauren Sánchez, have given $5 million to David Flink, the founder of the Neurodiversity Alliance. The gift, part of the Bezos Courage & Civility Award, recognizes Flink’s commitment to building inclusive educational communities for neurodivergent students.

The Neurodiversity Alliance, which began 25 years ago as a peer mentorship program, now reaches over 600 high schools and colleges. It supports students with autism, ADHD, dyslexia, and other developmental differences by creating spaces for learning that celebrate neurological diversity.

Flink plans to use the funds to expand the program to more than 2,000 schools by 2028, emphasizing mentorship and advocacy at a time when these resources are in high demand.

Sánchez’s personal connection to the cause stems from her own struggles with undiagnosed dyslexia as a child. "The 8-year-old me who was told I wasn’t smart" inspired her children’s book, “The Fly Who Flew to Space.”

While $5 million is a life-changing sum for many nonprofits, for a man with a net worth of roughly $245 billion, it is an almost invisible fraction of his wealth. For example, it’s less than a tenth of what the couple spent on their recent Venice wedding (pictured above).

It represents roughly 0.002%, in fact. To put that in perspective for an average American with $100,000 in assets, that is equivalent to donating $2. However, the donation was packaged with a high-profile award name and a press release.

Meanwhile let’s just compare Jeff’s giving to that of his ex-wife, MacKenzie Scott:

The case for making failing movies

—This is the latest in a weekly series of guest columns on the Business of Movies by Grant Keller.

“Ella McCay,” the new dramedy by James L. Brooks, arrived in theaters last weekend to a dismal $2 million off of a $35 million budget. If you’ve seen any headline about the movie, and let’s be honest, you haven’t, it’s that — but that shouldn’t be the story.

Poll of the day: Weed stocks get higher… 🌿📈!

This week’s world famous news haiku competition™ is about weed stocks spiking after it was rumored the president planned to reclassify weed last week, something he did indeed do yesterday…prompting these stocks to go absolutely bonkers:

Poll of the day: Absolutely nothin’

We asked: What are the chances we're going to war with Venezuela?

You answered:

🟨⬜️⬜️⬜️⬜️⬜️ Slim. A total naval blockade is definitely just a friendly, very loud Caribbean vacation. (64)

⬜️⬜️⬜️⬜️⬜️⬜️ Good. My defense stocks love this 'Special Repo Operation' more than a tax cut. (41)

🟩🟩🟩🟩🟩🟩 Excellent. And I am sure replacing one dictator with five drug cartels will work well for us, this time. (283) 

🟨⬜️⬜️⬜️⬜️⬜️ Limited. Trump is just surrounding them until Maduro finally returns our stolen oil wealth. (75)

463 Votes via @beehiiv polls

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