Mediagazer: News Corp beats estimates with Q3 revenue of $2.09B, up 5.8% YoY, records net loss of $1.13B mainly due to write-downs for Telstra/Foxtel deal in Australia (Reuters)

7:50 AM ET, May 11, 2018

Top News:

Rosalind S. Helderman / Washington Post:

Internal AT&T documents show it made a $600K deal with Cohen days after inauguration, specifying he would advise on Time Warner merger and on matters before FCC — Three days after President Trump was sworn into office, the telecom giant AT&T turned to his personal attorney Michael Cohen …

Discussion: The Wrap, @ericuman, The Root, The Hill, @joenbc, @jamilsmith, @klasfeldreports, Dealbreaker, Slate, Vanity Fair, New York Magazine and Techdirt

Reuters:

News Corp beats estimates with Q3 revenue of $2.09B, up 5.8% YoY, records net loss of $1.13B mainly due to write-downs for Telstra/Foxtel deal in Australia — (Reuters) - News Corp (NWSA.O), controlled by media mogul Rupert Murdoch, topped analysts' estimates for quarterly revenue on Thursday …

Discussion: Wall Street Journal, News Corp., Yahoo! News and CNBC

Financial Times:

News Corp CEO Robert Thomson calls for governments to create an “algorithm review board” to keep tech companies in check — The head of News Corp has called for governments to create an “algorithm review board” to keep tech companies in check, the latest in a long line of attacks …

Discussion: Deadline and Sydney Morning Herald

Paul Sawers / VentureBeat:

Spotify announces a hateful content and conduct policy to distance itself from controversial artists and introduces AudioWatch tool to scan its back catalog — Spotify has announced a new hate content and hateful conduct policy as it looks to distance itself from controversial music artists …

Discussion: The Atlantic, Bloomberg, myfox8.com, newsroom.spotify.com, Ad Age, @emceenetwork, @vdare, @buzzfeedben, @danrys, @pitchfork, The Verge and @mtfiii, more at Techmeme »

Dan Rys / Billboard:
Spotify removes R. Kelly and rapper XXXTentacion from the service's playlists, including-algorithmically generated ones, as part of new “hateful conduct” policy

Anthony Ha / TechCrunch:

IAB report: online advertising exceeded total spent on broadcast and cable TV in 2017, reaching $88B, a 21% increase from 2016; mobile rose 36% YoY to $49.9B — Online advertising reached $88 billion last year, a 21 percent increase from 2016 and a new high, according to the latest IAB Internet Advertising Revenue Report.

Discussion: @jason_kint, MediaPost, MediaPost, Adweek, Ad Age, IAB and AdExchanger, more at Techmeme »

Bloomberg:

House Democrats release 3,519 Facebook ads from Russia-linked accounts, spanning 2015 to 2017, showing a coordinated campaign to sow distrust in US politics — - House Intelligence Committee Democrats publish 3,519 ads — Posts targeted specific groups to inflame civil discord

Shan Wang / Nieman Lab:

Medium abruptly ends feature that let publishers use the platform to collect revenue from their own subscriptions, affecting 21 publishers — “Could we have a better metaphor for the way Silicon Valley considers local journalism?" fumed the owner of one of these remaining publications.

Louis Lucero II / New York Times:

Novelist Junot Díaz steps down as Pulitzer Prize board chairman while the board conducts a review of sexual misconduct allegations against him — The Pulitzer Prize board has opened an independent review of sexual misconduct allegations against the award-winning novelist Junot Díaz …

Discussion: BBC, HuffPost, CNN and Vox

Greg Dool / Folio:

Meredith nearly doubles National Media revenues with Time Inc. acquisition but thins profit margins, reporting revenue of $479.3M and operating profit of $9M — Meredith Corp.'s ongoing integration of Time Inc. has nearly doubled revenues for its national media business …

Discussion: PR Newswire, Meredith Corporation and Radio & Television …

Jeff Baumgartner / Broadcasting & Cable:

The rate of decline in pay TV subscriptions slowed in Q1, analyst Craig Moffett says, with cable operators losing 323K subscriptions and satellite losing 418K — ‘Conversion rate’ from traditional pay TV to OTT TV a particularly good trend for major programmers, analyst says

Discussion: MediaPost and FierceCable

Josh Marshall / Talking Points Memo:

Talking Points Memo staff unionizes with Writers Guild of America East, joining other media sites including Thrillist, Vox Media, and Vice — This morning I was coming into work after attending my son's school play and got an email from our editorial staff in DC and NY telling …

Discussion: Poynter, Deadline and Variety

Brianne O'Brien / BuzzFeed:

BuzzFeed to launch a new Saturday podcast, The News, where BuzzFeed staffers add context to news — Don't get lost in the chaos. Join BuzzFeed News reporters and editors every Saturday for news that's smart, not stuffy. — We get it. — With the news alerts constantly blowing up our phones …

Discussion: @janelytv

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