Top News:
Reeves Wiedeman / New York Magazine:
Deep dive inside Condé Nast amid years of drama, downsizing, and shakeups sheds light on Anna Wintour and others' struggle to revert falling influence and sales — “It's dreadful,” Anna Wintour said in early October, looking out the south-facing windows of her 25th-floor office …
Maxwell Tani / The Daily Beast:
G/O Media memo to staff says “Deadspin will write only about sports” and to focus 100% of resources on sports; the site also covered politics, culture, and more — Sports—and sports alone—must be “the sole focus” of the website, new management said Monday in a memo obtained by The Daily Beast.
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Kelsey Mckinney / @mckinneykelsey:
Deadspin writer says G/O Media management removed a letter to the readers from Deadspin staff that criticised the recent addition of autoplay videos to the site — Here is the post that G/O leadership has now removed from all of our sites without warning. Please continue to send emails to g-omediafeedback@googlegroups.com https://twitter.com/...
Discussion:
@gmgunion, @chronotope, Deadspin, @williamfleitch, @mckinneykelsey, @katiedrumm, @ashleyfeinberg, @barry and Awful Announcing
Dade Hayes / Deadline:
AT&T CEO Randall Stephenson says the company forecasts that HBO Max will reach 50M US subscribers in its first five years after launching next spring — HBO Max will reach 50 million U.S. subscribers in its first five years after launching next spring, according to a forecast issued Monday …
Discussion:
CNBC, Bloomberg, @dadehayes and Variety
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Wall Street Journal:
AT&T reaches a truce with activist investor Elliott Management, agrees to regular share buybacks, new directors, no more major M&A, and more in three year plan — Elliott had challenged telecom giant's strategy; AT&T commits to regular share buybacks, plans to avoid major acquisitions
Discussion:
Variety, @shalini, @ptolemy_3, @xpangler, The Drum, Reuters, Fox Business, CityAM, CNBC, Ars Technica, Business Insider, The Verge, Bloomberg, The Verge, Deadline and New York Times, more at Techmeme »
Todd Spangler / Variety:
AT&T says it will spend $1.5B-$2B on HBO Max in 2020 and $1B per year in both 2021 and 2022, expects profitability in year four — AT&T is telling investors it has the intestinal fortitude to win in the streaming wars — even as its traditional TV business continues to crumble.
Judd Legum / Popular Information:
How Ben Shapiro's massively popular right-wing site The Daily Wire gets promoted in an inauthentic, coordinated manner by 14 Facebook pages followed by millions — This is the online version of the Popular Information newsletter. You can get independent accountability journalism in your inbox every week.
Amol Rajan / BBC:
Daily Mail soft-launches Mail+, a bulletin-based digital service separate from its free Mail Online that will charge readers for some content in upcoming months — The long heralded next chapter of the Daily Mail's push into digital media will take shape this week, as consolidation across …
Discussion:
Press Gazette
Piya Sinha-Roy / Hollywood Reporter:
Netflix says it's testing a feature to allow users to speed up or slow down content on their phones, attracting criticism from filmmakers including Judd Apatow — Viewers can increase or slow down the speed of Netflix shows and movies on their smartphones.
Discussion:
The Guardian, The Playlist, Deadline, @bradbirda113, @juddapatow and @sepinwall, more at Techmeme »
Joe Pompeo / Vanity Fair:
The Recount, John Heilemann and John Battelle's short-form video political news outlet, has raised ~$10M seed from investors including Jay-Z and Kevin Durant — A-List investors (Fred Wilson, Jay-Z, Robert Wolf, Kevin Durant) are pouring millions into the journalist's new business.
Discussion:
@thisfamilymeal and @joepompeo
capitalgazette.com:
Capital Gazette shooter Jarrod Ramos pleads guilty to all 23 counts, including killing five employees, in a mass shooting at the Annapolis office in June 2018 — The man who blasted his way into the Capital Gazette newsroom more than a year ago, armed with a shotgun, smoke bombs and a device …
Discussion:
Washington Post, @baltimoresun, @jamesfoleyfund, @brianstelter, The Wrap, @capgaznews, @capgaznews, Axios, VICE and Metro.co.uk
Paul Farhi / Washington Post:
Federal judge reinstates libel lawsuit by Covington Catholic student Nicholas Sandmann against WaPo, narrowing its scope from 33 published statements to three — A federal judge reinstated part of a lawsuit against The Washington Post filed by the family of a Kentucky teenager that alleged …
Discussion:
The Hill, Washington Examiner, Fox News, New York Post, Deadline and Washington Times
Matthew De Silva / Quartz:
Spotify says 14% of MAUs listen to podcasts, podcast hours streamed grew 39% QoQ, and podcast engagement is driving increases in free to paid conversion — Spotify's stock price leaped 15% today (Oct. 28) as the music streaming service delivered a surprise profit for its third quarter.
Discussion:
Complete Music Update, CNBC, Financial Times and The Wrap, more at Techmeme »
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Theodore Schleifer / Vox:
Spotify says its CFO Barry McCarthy, who pioneered the direct listing model for IPOs, is leaving in January and will rejoin Spotify's board
Spotify says its CFO Barry McCarthy, who pioneered the direct listing model for IPOs, is leaving in January and will rejoin Spotify's board
Discussion:
@teddyschleifer and New York Times
Spotify:
Spotify Q3: paid subs rose 31% YoY to 113M; MAUs grew 30% YoY to 248M; revenue up 28% YoY to €1.73B; net income of €241M, up from €43M YoY; stock closes up 16%
Spotify Q3: paid subs rose 31% YoY to 113M; MAUs grew 30% YoY to 248M; revenue up 28% YoY to €1.73B; net income of €241M, up from €43M YoY; stock closes up 16%
Discussion:
Variety, Fortune, @brettbivens, @matt, @teddyschleifer, @claireatki, @ncsh, AdExchanger, Bloomberg, Reuters, VentureBeat, Engadget and Hollywood Reporter, more at Techmeme »