Top News:
Brian Stelter / CNN:
CNN's Chris Cuomo has been diagnosed with COVID-19, but he says he is feeling well and will continue anchoring his show from his home — New York (CNN Business)CNN anchor Chris Cuomo has been diagnosed with Covid-19, the network said in a memo to employees on Tuesday.
Discussion:
@chriscuomo, @nygovcuomo, Mediaite, New York Times, Washington Post, TVNewser, The Wrap, @andrewyang, @vanlathan, @davidshepardson, @bykellycohen and @marygeorgant
Ken Doctor / Nieman Lab:
COVID-19 has gravely accelerated the need for newsrooms to confront issues like need for talent, appropriate staff size, and cutting print days, among others — As local newspapers' businesses hit the skids, they're finding themselves careening right now into a future they'd thought was still several years away.
Discussion:
@ckrewson, @jbenton, @brynstole, @brettdl, @jbenton, Tampa Bay Times, @sulliview and New York Times
RELATED:
Kristen Hare / Poynter:
Lee Enterprises implements pay reductions and furloughs equivalent to two weeks' salary in the third quarter, while the executive team will take a 20% pay cut — The company joins other media orgs hit hard by the coronavirus pandemic — Lee Enterprises joined the list of news organizations hit hard by the coronavirus on Tuesday.
Discussion:
@sulliview, @jsodonoghue, @cgrueskin, United Media Guild, @itsren, @mariealbiges, @_ryan_blake and @amyrsisk
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
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
Discussion:
Digiday, Business Insider and @maxwelltani
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
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
Discussion:
MediaPost, American Press Institute, Poynter, Vanity Fair, Poynter, @ashleycdye, Tampa Bay Times, @gabriellecalise, @marbinmiller, @langstonitaylor, @newsbysmiley, @markkatches, @sammy_roth, @scontorno, @jbenton, @jbenton, @kathrynvarn, @stevebousquet, @rickedmonds, @clairemcneill, @dohamadani, @langstonitaylor, @rontimes, @craigtimes, @mcastimovies, Florida Politics, Poynter and @wpjenna
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
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
Discussion:
@gregholmannl, Poynter, @thesarahkelly, @aaron_leib, @rachelwalexande, The Hill, @rachelacrosby, @aprilehrlich, @ryanchittum, @markferenchik, @brianduggan, @jemelehill, @gerryconway, @pkafka, @emdrums, @reporterdavidj, @dicktofel, @thrasherxy, @reporteramber, @lpolgreen, @brynstole, @craftypanda, @rickedmonds, @maxwelltani, @tednesi, @maxwelltani, Awful Announcing, The Wrap, New Jersey Globe and Florida Politics
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 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
Discussion:
Business Wire, Washington Post, @mavencoalition, @jaseidler, @readdanwrite, @benjstrauss, @baileycarlin, @kevinmdraper, @kerrymflynn, AdExchanger and @pkafka
Chris Best / Substack Blog:
Substack donates $100K in grants to writers struggling due to pandemic, drops its cut of subscription revenue for pubs donating earnings to COVID-19 causes — We started Substack because we believe that what you read matters and good writing is valuable. We believe that writers, bloggers …
Discussion:
TechCrunch
Marc Tracy / New York Times:
Profile of STAT, a science and medical news site that was early to cover COVID-19 and has attracted ~30M unique visitors this year, 4x to 5x its usual traffic — Stat, started in 2015 by the Red Sox owner John Henry, is drawing four to five times its normal audience. “We were built for this,” one of its editors said.
Discussion:
@marcatracy, @davemcclure and @pathtweets
Daniel Bernhard / Toronto Star:
Canadian media, starved of ad revenues for years, is on the brink of mass extinction due to the pandemic; CBC cancelled all local TV news broadcasts last week — By some industry estimates, many of our major media outlets will fail within weeks. Starved of advertising revenues for years …
Discussion:
@robshaw_vansun, @akurjata, @sulemaan and @rosajsaba
Joshua Benton / Nieman Lab:
Free alt-weekly Chicago Reader lost 90% of its ad revenue and is turning to ideas like a fundraising colouring book and a souvenir issue to fill the funding gap — Considering the regimentation of pre-digital publishing — repeating the same workflows day after day, week after week — journalists are very adaptable animals.
Discussion:
@mdoukmas, @briannawellen and @niemanlab
Todd Spangler / Variety:
Spotify for Kids launches in the US, Canada, and France on the $14.99/month Spotify Premium Family tier with 8,000 songs, of which 50% is localized — Spotify is giving more housebound parents — and their cooped-up kids — a new tool to cope with the COVID-19 pandemic.
Discussion:
Spotify, TechCrunch and The Verge, more at Techmeme »
John Ourand / Sports Business Daily:
Sources: DAZN is telling sports leagues it won't pay rights fees for any suspended games, will defer payments for future seasons; some staff to be furloughed — DAZN has started telling sports leagues that it will not pay rights fees for any games that have been suspended or content …
Discussion:
The Streamable and Awful Announcing
Tony Maglio / The Wrap:
Fox withdraws financial guidance, citing delayed productions and sports cancellations and postponements, and says it plans to amend agreements with lenders — Fox is the latest major media corporation to walk back its prior financial guidance due to the impact of the continuing coronavirus pandemic.
Discussion:
Multichannel News, Hollywood Reporter, Variety and Broadcasting & Cable
Freddy Mayhew / Press Gazette:
The BBC warns that decriminalizing nonpayment of the TV license fee would cost the service more than £1B over 5 years and require significant programming cuts — The BBC has warned that decriminalising non-payment of the TV licence fee would cost it more than £1bn over five years and …
Discussion:
@toooldforit and @arusbridger
Jason Lynch / Adweek:
IAB postpones its now-virtual Digital Content NewFronts by two months to the week of June 22 — Annual event moves from late April to week of June 22 — Key insights: — Buyers are increasingly skeptical that upfront talks can take place in the traditional timeframe.
Discussion:
Variety, Broadcasting & Cable, IAB, MediaPost and AgencySpy
David Chavern / News Media Alliance:
News Media Alliance and America's Newspapers CEOs send an open letter to Trump, McConnell, and Pelosi about need for federal gov't help in sustaining local news — President and CEO of the News Media Alliance, David Chavern, and CEO of America's Newspapers, Dean Ridings …
Discussion:
@sarafischer