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9:10 PM ET, April 22, 2022

Mediagazer

 Top News: 
Sara Fischer / Axios:
Source: ~350 of CNN+'s 700 staff will be laid off with pay and benefits for the next 90 days; much of the CNN+ programming will be reallocated to other services  —  The shuttering of CNN+ three weeks after the subscription service launched will be remembered as one of the most chaotic moments of CNN's 40-year history.
Joe Flint / Wall Street Journal:
Sources: after churning out 500+ original programs in 2021, Netflix is looking to rein in costs and add fewer new titles with a greater emphasis on quality  —  Streaming service spent lavishly on productions to win subscribers, but now growth has slowed  —  Your browser does not support the audio tag.
RELATED:
Protocol:
Netflix lost 700K subscribers by suspending its service in Russia, where it was available for six years; ad-supported plans could help Netflix catch up abroad  —  Hello, and welcome to Protocol Entertainment, your guide to the business of the gaming and media industries.
Kif Leswing / CNBC:
As of Friday's close, Netflix had a $99.2B market cap, down from $300B+ in November 2021; Meta had a $532.6B market cap after passing $1T in June 2021  —  - The tech market has plunged since its peak in November, and Netflix and Facebook have been hit particularly hard.
Sarah Scire / Nieman Lab:
Javier Espinoza / Financial Times:
The EU reaches a deal on the Digital Services Act to force social networks to toughen content moderation, reduce Google and Meta's ad targeting of minors, more  —  Companies such as Google and Facebook must moderate content more actively in regulatory clampdown
Katie Glueck / New York Times:
Florida Governor Ron DeSantis signs a bill revoking Disney's special tax status, effective as of June 2023, after a clash over the state's “Don't Say Gay” law  —  Gov. Ron DeSantis's move to revoke the company's special tax status in Florida showed how combative his party …
Naomi Nix / Washington Post:
Twitter bans ads that promote climate change denial and contradict “scientific consensus”  —  Twitter says ads can't contradict “scientific consensus” on the environmental crisis  —  Twitter is banning advertisements that promote climate change denial in an effort to curb …
Rebecca Ratcliffe / The Guardian:
Singapore jails Terry Xu, the editor of now-closed news outlet The Online Citizen, for three weeks for defamation over a letter alleging government corruption  —  Terry Xu was convicted last year after publishing a letter alleging ‘corruption at the highest echelons’
Discussion: Agence France-Presse
Jef Feeley / Bloomberg:
BuzzFeed sues to block arbitration claims from employees who say the company improperly denied them the opportunity to sell their shares following its IPO  —  BuzzFeed Inc. wants to block arbitration of claims that the company botched its initial-public offering and improperly denied employees …
Georg Szalai / The Hollywood Reporter:
NBCUniversal CEO Jeff Shell's compensation hit $21.6M in 2021, up 31% YoY, while Comcast chairman and CEO Brian Roberts' compensation reached $34M, up 4% YoY  —  In the last year, the conglomerate's stock declined 2 percent while its revenue rose 12.4 percent to $116.4 billion.
Discussion: Variety, The Wrap and Deadline
 
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 More News: 
Claire Woodcock / VICE:
Ebook vendors like Hoopla are including titles with COVID-19 disinfo, Holocaust denial, and more; librarians want more transparency and accountability
David Barnett / The Guardian:
Report: UK publishers' total income hit a new high of £6.7B in 2021, up 5% YoY; TikTok emerged as a surprise driving force for new books and backlist purchases
Jonathan Allen / Reuters:
Two Georgia election workers settle their defamation lawsuit with OANN over false claims they manipulated ballots, leaving Rudy Giuliani as the only defendant
 Earlier Picks: 
Luke Winkie / Nieman Lab:
A look at the paranoia in BuzzFeed's newsroom after cuts and the company's SPAC deal, as its media peers weigh going public and the potential effects on staff
Marc Wojno / ZDNet:
Live Bash, which lets artists livestream their performances and convert the shows into digital collectibles and NFTs, raises a $21M seed from unnamed investors
Aisha Majid / Press Gazette:
Analysis: eight of the 50 leading local UK news sites drew 50%+ of their UK audience from nearby; for 20 sites, less than a third of their audience was local
Brendan Brady / Antenna:
Netflix had 3.6M US subscribers cancel in Q1 2022, over 1M more than in Q1 2021 and Q4 2021; gross additions in the past six quarters ranged from 2.2M to 2.9M