Top News:
Maxwell Tani / The Daily Beast:
Gannett CEO announces furloughs and pay cuts across the company, says other execs will take a 25% pay cut and he won't take a salary until the cuts are reversed — The mass-media company, which owns many large newspapers including USA Today, announced Monday that the coronavirus downturn has forced the company to make deep cuts.
Discussion:
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James Poniewozik / New York Times:
Trump has turned his coronavirus briefings into create-your-own-reality TV with the structure, intrigue, drama, rhythm, and characters of a weekly reality show — The coronavirus briefings have given Donald Trump a regularly scheduled reality show again — or, rather, a create-your-own-reality show.
Discussion:
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Marc Tracy / New York Times:
Facebook says it will invest $100M to support the news industry during COVID-19: $25M in emergency funding for local news and $75M in additional marketing spend — With grants and marketing spending, the social media giant hopes to support outlets doing essential local reporting but struggling with a drop in advertising.
Discussion:
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The Guardian:
Hungary passes a draconian coronavirus law that allows PM Orbán to rule by decree and includes jail terms of up to five years for spreading “misinformation” — Fears over coronavirus legislation that gives no time limit for state of emergency
Discussion:
@balazscseko, @michaeldweiss, @melissajpeltier, @shaunwalker7, @davidfrum, Yahoo News and The Week
Tampa Bay Times:
The Tampa Bay Times to temporarily cut print editions to Sunday and Wednesday, says digital subscription gains are not enough to make up for advertising losses — Chairman and CEO Paul Tash says “extraordinary times call for extraordinary measures.” — The Tampa Bay Times …
Discussion:
Poynter, Tampa Bay Times, Vanity Fair, @markkatches, @langstonitaylor, @clairemcneill, @jbenton, @stevebousquet, @ashleycdye, @sammy_roth, @kathrynvarn, @dohamadani, @langstonitaylor, @rontimes, @scontorno, @newsbysmiley, @marbinmiller, @craigtimes, @mcastimovies, @gabriellecalise, @jbenton, @rickedmonds, Florida Politics, Poynter and @wpjenna
Maxwell Tani / The Daily Beast:
Vice will no longer match 401k contributions, freezes promotions through July, cuts salaries for top staff including the CEO, and will furlough some top execs — STAY AFLOAT — Vice Media will cut salaries for top staff and halt retirement benefit-matching following the economic downturn spurred by the coronavirus pandemic.
Discussion:
Digiday and @maxwelltani
TheStreet:
Maven anticipates revenue to drop by $30M in 2020 and will lay off some staff, with Sports Illustrated journalists representing 6% of the overall cost reduction — Maven Media Brands (MVEN) said Monday it will be laying off employees and senior management will see a 30% reduction …
Discussion:
@baileycarlin, @kerrymflynn, @jaseidler, @pkafka, @kevinmdraper, @mavencoalition, @readdanwrite and @benjstrauss
Erik Wemple / Washington Post:
Fox News, which “parted ways” with Trish Regan, should now let go of Sean Hannity who spouted the same harmful nonsense as Regan but to a much bigger audience — Recent personnel actions at Fox just happen to have fallen when people turn away from their phones and laptops.
Discussion:
@jeremymbarr, The Daily Beast, @rabbirami, @jeremymbarr, @michellemanafy, @mattgertz and Axios
Variety:
Memo: iHeartMedia CEO Bob Pittman waives salary, other execs take pay cuts, as an unknown number of staff receive 90-day furloughs without pay due to pandemic — iHeartMedia has joined the growing list of companies implementing sizable pay cuts for senior executives amid the upheaval caused by the coronavirus crisis.
Discussion:
RAMP
Ryan Parker / Hollywood Reporter:
Disney says senior executives will take temporary pay cuts with Bob Iger forgoing his entire salary and recently named CEO Bob Chapek taking a 50% pay cut — CEO Bob Chapek will take a 50 percent pay cut. — The Walt Disney Co. said on Monday that executive chairman Robert Iger will forgo …
Discussion:
@brooksbarnesnyt, @antoniusrex, @marc_dylan, The Playlist, @johngary, @bevysmith, @theryanparker, @readdanwrite, /Film, The Wrap and The Hill
Ina Fried / Axios:
After changing its rules, Twitter is cracking down on COVID-19 misinformation from prominent accounts, including Brazilian President Bolsonaro and Rudy Giuliani — It's notable that Twitter, like other social networks, has announced stricter rules on virus-related misinformation than other types of false posts.
Discussion:
The Verge, TechCrunch, BuzzFeed News, @thehighsign, @hadas_gold, @ow, @charlesarthur, @proftimstephens, CNET, @kfile, Politico, @sarahfrier, @ali and @melissaryan, more at Techmeme »
Michael Luo / New Yorker:
An in-depth look at the macroeconomic picture for US newsrooms since 2008: fights over paywalls, non-profit startups, the death of local news, and now COVID-19 — Can a fragile media ecosystem survive the pandemic? — In 2009, as the economy struggled to rebound from the Great Recession …
Discussion:
@newspapernovel, @newyorker, @reporterdriver, @michaelluo and @arusbridger
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