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10:45 PM ET, March 30, 2020

Mediagazer

 Top News: 
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.
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.
RELATED:
Maxwell Tani / The Daily Beast:
Sources: on an internal call, Jeff Zucker defended airing Trump briefings live, arguing that viewers need to hear Trump answer tough questions from journalists
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.
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 …
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
Ben Smith / New York Times:
It's time for a painful shift that means abandoning most for-profit local papers with poor business models for a national network of nimble new online newsrooms  —  The coronavirus is likely to hasten the end of advertising-driven media, our columnist writes.  And government should not rescue it.
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.
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 …
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.
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 …
New York Times:
Sources: Facebook's security team had disinfo concerns about The Daily Wire's sites in 2019, clashing with the policy team, which prevented action being taken  —  After spending billions to avoid a repeat of 2016, the tech giants are careening from crisis to crisis as their foes change tactics.
 
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 More News: 
Patrick Frater / Variety:
Nine Entertainment says it aims to cut $163M from its cost base in 2020, with savings of $80M in broadcast rights costs if the National Rugby League is canceled
 Earlier Picks: 
Manish Singh / TechCrunch:
MX Player, an ad-supported video streaming service that has 175M MAUs in India, expands to new international markets including the US, UK, and Australia
Peter White / Deadline:
Q&A with Jeffrey Katzenberg on launching Quibi on April 6 in the middle of a global pandemic, why Quibi only licenses rather than owns the content, and more
Discussion: CortaCable
 

 
From Techmeme:

George Steer / Financial Times:
Nvidia closed down 10% on Friday, falling the most since March 2020 and losing more than $200B of its market value, as investors pull back from AI bets

Foo Yun Chee / Reuters:
Sources: EU may accept Apple's proposal to open its NFC payments tech to rivals, and may close its antitrust probe in May, letting Apple avoid hefty fines

James Hunt / The Block:
Bitcoin's fourth halving is now complete, lowering miners' block subsidy rewards from 6.25 BTC to 3.125 BTC; the third halving was on May 2020
 
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