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5:30 AM ET, October 5, 2021

Mediagazer

 Top News: 
Jessica Bursztynsky / CNBC:
Carlos Watson says Ozy Media is not shutting down after having “good conversations” with investors and advertisers and Friday's announcement was “premature”  —  - Ozy Media isn't shutting down, CEO and co-founder Carlos Watson told CNBC on Monday.
RELATED:
Ben Smith / New York Times:
How the charm of Ozy's chief, Carlos Watson, helped persuade investors into putting millions toward a media dream before conducting sufficient due diligence  —  The story behind the story is about the elite investors who plowed millions into a media dream without much due diligence, persuaded by the charm of Ozy's head, Carlos Watson.
Eugene S. Robinson / Look What You Made Me Do:
Ozy's former editor-at-large recalls Carlos Watson's abusive management style and says there was a white Ozy and a Black Ozy, where employees were treated worse  —  “And in regards to your little music thing...” It was both a dressing down, very possibly Dressing Down #37, and a pep talk.
Craig Silverman / @craigsilverman:
[Thread] A look at why Ozy failed as a paid media company and has become a perfect, cautionary illustration of paid versus earned media  —  The Ozy Media meltdown has a lot of lessons. As the reporter who caught them buying junk traffic in 2017, I'm biased. But I see it as a perfect, cautionary illustration of Paid versus Earned media. So: a 🧵 on why Ozy failed as a paid media company — and why it matters.
Sara Fischer / Axios:
Sources: Ozy inflated its numbers by buying most of its social media following and viewership for some shows, then used the numbers in pitches to TV networks  —  The downfall of Ozy Media and its charismatic founder Carlos Watson will go down as one of the most sudden media collapses of all time.
Todd Spangler / Variety:
Disney says Hulu president Kelly Campbell has left after less than two years in the role  —  Campbell's departure was announced to staff by Rebecca Campbell, Disney's chairman of international operations and direct-to-consumer.  Kelly Campbell's direct reports at Hulu will report to Rebecca Campbell …
RELATED:
Sarah Whitten / CNBC:
Members of the IATSE union, representing backstage movie and TV workers, authorize a strike after trying to negotiate a larger streaming revenue share and more  —  - Hollywood's backstage union workers voted to authorize an industry-wide strike.  — This vote comes after months …
Jessica Toonkel / The Information:
Sources: The Athletic lost around $100M between 2019 and 2020, exceeding its $73M in revenue over the same period  —  Digital sports news firm The Athletic hemorrhaged nearly $100 million cash between 2019 and 2020, according to a presentation prepared for investors, exceeding the $73 million …
Max Willens / Digiday:
News app Newsbreak, which claims 45M MAUs, hires Snap's Xana O'Neill as head of original content as it tries to boost its nearly 3,000-strong creator program  —  After about a year of trying to get into the original content business, Newsbreak is unofficially starting over.
Discussion: @ckrewson
Amitha Kalaichandran / Poynter:
How editors can better assess the credibility of experts and raise standards for op-eds, as contrarian viewpoints on COVID-19 flood opinion sections  —  An influx of contrarian viewpoints on COVID-19 policy in mainstream opinion journalism could have dire consequences on how the pandemic plays out.
Charlotte Tobitt / Press Gazette:
Filings: The Spectator doubled pre-tax profits to £1.6M in 2020, as turnover rose 15% to £16.3M and subs grew 40%, compensating for lost newsstand and ad sales  —  The Spectator more than doubled its pre-tax profits in 2020 as a 40% boost to subscriber numbers balanced out challenges …
 
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 More News: 
Lucas Shaw / Bloomberg:
Q&A with Endeavor chairman Patrick Whitesell on the transition to streaming, HBO Max's success, which services pay the most, and more
Daniel Lippman / Politico:
Seven foreign journalists fired from USAGM during former CEO Michael Pack's term sue the agency for breach of contract and wrongful termination
Discussion: @ewong, @dlippman, @dlippman and @dlippman
The Guardian:
UK culture secretary attacks “nepotism” and “group think” at BBC, links its next license fee settlement to its ability to draw a more socially diverse workforce
 Earlier Picks: 
The Guardian:
ICIJ, The Guardian, BBC, Le Monde, and WaPo publish the Pandora Papers, a trove of 11.9M files from companies hired by the wealthy to set up offshore accounts
 

 
From Techmeme:

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

Gaby Del Valle / The Verge:
The US Senate reauthorizes FISA's Section 702; some communication service providers had threatened to stop cooperating with the US government in case of a lapse

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
 
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