Top News:
Snopes.com:
Snopes receives $289K from the PPP loan program, which will provide about two and a half months of security — Like many news organizations that accepted this funding, we believe we are the exact type of business the program was intended to help. — Dear Readers,
Todd Spangler / Variety:
Music streaming company LiveXLive acquires Courtside Group, owner of podcast network PodcastOne, for ~$18M; Podcast One generates 2B+ episode downloads annually — Music livestreamer LiveXLive is diversifying its business with the acquisition of PodcastOne, a podcast network that hosts shows …
Discussion:
Wall Street Journal, RAIN News and @xpangler
Kathryn Hopkins / WWD:
ENTtech Media halts Paper Magazine's print edition, lays of four staff, and implements pay cuts ranging from 20% to 30% for the highest paid employees — Paper owner EnTech Media has halted print issues, temporarily cut pay and laid off a few staffers. — Paper Magazine …
Victor Pickard / The Nation:
Converting post offices into places to produce community media, with public broadband, would strengthen the original USPS purpose of delivering news and ideas — The postal service is a core democratic infrastructure—and it's time we remember that and fund it appropriately.
Discussion:
@repmarkpocan, @vwpickard, @annenbergpenn, @vwpickard, @jasonfalter, @thenation, @katrinanation and @mikewassenaar
Abby Ohlheiser / MIT Technology Review:
A look at the symbiotic ties of anti-vaxxers and COVID-19 conspiracy theorists with mainstream YouTubers, as the platform tries to regulate misinformation — Covid-19 conspiracy theorists are still getting millions of views on YouTube, even as the platform cracks down on health misinformation.
Discussion:
VICE, TechCrunch, Poynter, NBC News, @techreview, @reillyadam, @megancgraham, @sal19, @oneunderscore__, @techreview, @wanderinghome, @coreyhardin2, @ashleyscoby, @briandunning, @abbyohlheiser, @taylorlorenz, @dangillmor, @peterhotez, @mike_hixenbaugh, The Daily Beast, @brandyzadrozny, @glichfield, @brandyzadrozny, Digital Trends, TechCrunch, New York Post, Media Matters for America, Engadget and CNBC, more at Techmeme »
Dade Hayes / Deadline:
MGM takes a stake in podcast company Audio Up, which will produce and distribute up to five podcasts per year for MGM and give it first looks for adaptations — EXCLUSIVE: With podcasting continuing to surge as a form of media and entertainment, and audio properties increasingly of interest …
CNN:
In June 2015, White House Press Secretary Kayleigh McEnany harshly panned Trump, calling his comments on Mexican immigrants “racist”, then defended him by July — (CNN)New White House press secretary Kayleigh McEnany was a harsh critic of then-candidate Donald Trump before she became …
Discussion:
@kfile, The Hill, @kfile, Deadline, Mediaite, The Week, @mjmckean, @joenbc, @jeremykonyndyk, @katierogers, @juddapatow, @tarasetmayer, The Wrap, Washington Post, Mediaite, Washington Post and WGN-TV
Tatiana Siegel / Hollywood Reporter:
Saudi Arabia's sovereign fund took a 5.7% stake, worth ~$500M, in Live Nation in April, its first investment in American entertainment since Khashoggi's murder — As oil prices plunge, the kingdom's Public Investment Fund has made an offer for Warner Music Group, after nabbing a $500 million Live Nation stake to diversify.
Discussion:
@onaircoop and Music Business Worldwide
Lara O'Reilly / Digiday:
Sources: TikTok plans to roll out an AR ad format in Q3, which will allow users to add interactive visual effects from advertisers to their TikTok videos — TikTok is readying the launch of a new augmented reality ad format as the popular video app continues to rapidly ramp up its ad product development …
Discussion:
@larakiara
Laura McGann / Vox:
To hold up to scrutiny, #metoo reporting has been built on extraordinary amounts of evidence and multiple accusers, factors missing in the case of Tara Reade — Tara Reade, a former staff assistant in Joe Biden's Senate office, on April 11. Max Whittaker/New York Times/Redux
Discussion:
Associated Press, @lkmcgann, Breitbart, VICE, New York Times, @astoraaron, @mehdirhasan, @mehdirhasan, @samstein, @isaacdovere, @hoarsewisperer, @hoarsewisperer, @irin, @michaeldweiss, @krystalball, @bluesteeldc, @profkmcnamara, The Week, @nathansoz, @vabvox, @ben_alpers, @stefcutter, @laraseligman, @itaisher, @mattyglesias, @studentactivism, @voxdotcom, The Daily Beast, USA Today, The Hill, New York Post, Jacobin and VTDigger
Georg Szalai / Hollywood Reporter:
MoffettNathanson: pay TV subscriptions fell a record 1.8M in Q1, with 63% of US households subscribing, down to '95 level, as virtual and satellite TV implode — “There are now as many non-subscribing households (46 million) as there were pay TV subscribers in 1988," noted MoffettNathanson analysts.
Discussion:
Variety, MediaPost, @pkafka, The Streamable, Multichannel News, @kimmasters, The Media Nut and Variety
Alex Weprin / Hollywood Reporter:
Rupert Murdoch will give up all of his News Corp cash bonus for this fiscal year, and CEO Robert Thomson will give up 75% of his cash bonus — The mogul will give up all of his cash bonus at his publishing company. — Media mogul Rupert Murdoch will give up 100 percent of his cash bonus …
Discussion:
@kimmasters, Reuters, @dylanbyers and Hollywood Reporter
RELATED:
Todd Spangler / Variety:
Roku posts revenue of $320.8M for Q1, up 55% YoY, and a net loss of $54.6M, warns that ad revenue growth will slow this year; stock down 9%+ after hours — Roku's first-quarter revenue beat Wall Street estimates as COVID-19 quarantines have resulted in a massive streaming surge for the company.
Discussion:
Roku, @mylesudland, @xpangler, MediaPost, Light Reading, The Wrap and The Streamable, more at Techmeme »
Business Wire:
ViacomCBS Q1: $508M net earnings on $6.6B revenue; $471M in streaming and digital video revenue, up 51% YoY; 13.5M streaming subscribers, 24M+ MAUs on Pluto TV — - Sequential Improvement in Operating Income and Adjusted OIBDA, Diluted EPS and Adjusted Diluted EPS, as well as Operating Cash Flow and Free Cash Flow
Discussion:
Hollywood Reporter, TechCrunch, @alexweprin, @alexweprin and CordCutters
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