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, New York Times, Washington Post, Newser, TVNewser, The Wrap, @davidshepardson, @marygeorgant and @bykellycohen
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:
@amyrsisk, @_ryan_blake, United Media Guild, @mariealbiges and @itsren
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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
Discussion:
Digiday, Business Insider and @maxwelltani
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
Discussion:
Nieman Lab, @gregholmannl, Poynter, @thesarahkelly, The Hill, @rachelwalexande, @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
Discussion:
Washington Post, @mavencoalition, @jaseidler, @readdanwrite, @benjstrauss, @baileycarlin, @kevinmdraper, @kerrymflynn and @pkafka
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 »
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
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, Broadcasting & Cable, Variety and Hollywood Reporter
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
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, MediaPost, IAB 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
Bryan Curtis / The Ringer:
Baseball site FanGraphs laid off 20+ freelancers last week, foreshadowing how the next few months could be a disastrous period for freelance sportswriters — Why the next few months are going to be a disastrous professional period for sportswriters — Last week, the baseball site FanGraphs …
Discussion:
@clevezirm, @bryancurtis, @jon_greenberg and @rpjward
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
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
Discussion:
Fox News, @davidakaye, @dangillmor, @joshuahol, @thedailybeast, @atlanticmovpic, @lukebrussel, @juliemason, @levinejonathan, @parkermolloy, @esaagar, @daviddtss, @soledadobrien, @robbysoave, @rolandsmartin, @froomkin, @jayrosen_nyu, New York Times, @maxwelltani, Mediaite, CNN, MediaFile and Vanity Fair
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