Mediagazer: With sports still up in the air, sports media faces unprecedented challenges, as writers pivot to stories on nostalgia and player safety amid looming job losses (Bryan Curtis/The Ringer)

Netflix names Ted Sarandos co-CEO, appoints Chief Product Officer Greg Peters as COO — Netflix is promoting its chief content officer Ted Sarandos to co-CEO, the company announced Thursday. The 20-year Netflix veteran will join current chief executive Reed Hastings in the role.

Discussion: CNN, The Streamable, Netflix Media Center, Wall Street Journal, The Verge, @jank0, @pkafka, Fox Business, Reuters, Yahoo Entertainment, Adweek, New York Post, MediaPost, ZDNet, Reuters, Fortune, Deadline, TechCrunch, The Wrap and Axios, more at Techmeme »

Lauren Feiner / CNBC:
Netflix reports Q2 revenue of $6.15B, up 24.9% YoY, and expects 2.5M net subscriber additions for Q3 vs analyst estimates of 5.27M; stock down 9%+ after hours

Discussion: @jank0, @jank0, @stevekovach, 9to5Mac, The National Interest, TechCrunch, Axios and Vox, more at Techmeme »

Edmund Lee / New York Times:

The hedge fund set to own McClatchy cut 1,600 employees and shut down 30+ papers since taking over Canada's largest newspaper chain Postmedia in October 2016 — Since Chatham Asset Management took over Postmedia, Canada's largest newspaper chain, 1,600 employees have been laid off and more than 30 papers shut down.

Discussion: @jimwindolf, @jimwindolf, @edmundlee, @benestes and @mcguffindavid

Joshua Benton / Nieman Lab:

McClatchy's average daily operating revenue fell 28% from February to the end of May, showing the challenges that newspapers are facing during the pandemic — When McClatchy declared bankruptcy in February, its debts were crushing, but its operating numbers weren't so bad.

Discussion: @pohl_jason, @jeffjarvis, @jbenton and @jbenton

Nicholas Quah / Vulture:

The Michelle Obama Podcast to launch exclusively on Spotify July 29; show to feature conversations with Conan O'Brien, Valerie Jarrett, Michele Norris, others — The former First Lady is coming to your headphones. — This morning, Higher Ground, the production studio of Barack and Michelle Obama …

Discussion: @michelleobama, Variety, @andrealimjoco, Shape, CNBC, @eldsjal, The Daily Caller, Washington Post, The A.V. Club, Associated Press, The Hill, Forbes and Engadget

Sheryl Gay Stolberg / New York Times:

Trump admin orders hospitals to bypass CDC and send COVID-19 info to a database not open to the public, raising questions about reporter and researcher access — Hospitals have been ordered to bypass the Centers for Disease Control and Prevention and send all patient information …

Chris Roush / Talking Biz News:

Memo: Bloomberg EIC John Micklethwait says outlet publishes too many mediocre and/or long enterprise stories, stories should be shorter than 400 words or 900+ — Bloomberg News editor in chief John Micklethwait sent the following to the editorial staff on Wednesday:

Discussion: @dexbarton, @zseward, @emilybell, @bendwalsh, @jamesrbuk, @fmanjoo and @mostafanageeb

Krystie Lee Yandoli / BuzzFeed News:

Eleven current or former Ellen DeGeneres Show employees detail a toxic work culture, blaming executive producers and senior management — Ellen DeGeneres has built her worldwide, multimillion-dollar brand on the motto “be kind,” with lavish giveaways and acts of charity.

Discussion: @ivieani, @mrernestowens, The A.V. Club, @evelynvwoodsen, @juliamoserrrr, @brosandprose, @annehelen, @krystielyandoli, @buzzfeednews and New York Post

New York Times:

Deaths, retirements, and exec reshuffling have brought new and diverse leadership to book publishing, many with different sensibilities than their predecessors — A wave of deaths and retirements prompted publishers to name new leaders. Now the industry is in a rare moment of transformation …

Financial Times:

Online ad sales are expected to drop between 19-23% this year, hindering digital outlets from turning expected profits and threatening consolidation — Tougher environment for likes of BuzzFeed and Vice raises prospect of more consolidation — It was supposed to be the year that digital publishers finally turned a profit.

Discussion: Digiday, @tonytassell, @annaknicolaou and 5ish

Ibrahim Hirsi / Sahan Journal:

Profile: Henok Degfu, founder of Ethiopian news outlet ZeHabesha, on his arrests for reporting, escape while facing defamation lawsuits, running pub from Minn — Henok A. Degfu is probably the only editor in Minnesota whose reporters used to file stories by internet, but have now switched to reading him notes over the phone.

Discussion: @natocoles and @mukhtaryare

Bryan Curtis / The Ringer:

With sports still up in the air, sports media faces unprecedented challenges, as writers pivot to stories on nostalgia and player safety amid looming job losses — When games return this summer, things will look a lot different. Can journalists continue to cover sports like they once did?

Dan Froomkin / Press Watch:

Reporters need to change their election coverage to consider whether Trump could steal the 2020 election and focus on voter suppression and fact-rejection — Donald Trump isn't running anything remotely like a normal presidential campaign. He's not appealing to a wide swath of the electorate.

Megan Graham / CNBC:

Hulu is launching Ad Manager, a self-service tool targeted at SMBs with an ad budget of $500 or more, to make it easy to buy ads on its service — - Hulu is launching a “self-service” tool to make it easier for small and medium-sized businesses to buy ads on its service.

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