Mediagazer: Allen & Co.'s annual Sun Valley conference begins on July 5 featuring Warner Bros. Discovery, Disney, Netflix, and more, as financial woes dampen dealmaking (Joe Pompeo/Vanity Fair)

8:20 PM ET, July 5, 2022

Top News:

Joe Pompeo / Vanity Fair:

Allen & Co.'s annual Sun Valley conference begins on July 5 featuring Warner Bros. Discovery, Disney, Netflix, and more, as financial woes dampen dealmaking — As fleece-clad billionaires—and newcomers like Bari Weiss—flock to Idaho this week, Sun Valley fixtures are buzzing about Netflix's future …

Discussion: New York Times, Variety, Deadline, Bloomberg, @geopolitics_emp, @vanityfair, @mlcalderone, Forbes, iTech Post, The Apple Post, Idaho Mountain Express, MacRumors, AppleInsider, 9to5Mac and The Hollywood Reporter

Manori Ravindran / Variety:

To cut costs, HBO will cease producing HBO Max originals in the Nordics, Central Europe, the Netherlands, and Turkey and will also remove some HBO Max content — As the media conglomerate looks to recalibrate its streaming priorities, it will no longer produce originals in the Nordics …

Discussion: TechCrunch, The Streamable, @jasonhirschhorn, Hollywood Reporter, @kaludiasays, mxdwn Television, Tom's Guide, CINEMABLEND, Deadline, @ballmatthew, @richlightshed, @nickandmore, The Wrap, Advanced Television, Engadget and Hollywood Reporter

Lucas Shaw / Bloomberg:
Netflix, Amazon, Warner Bros., and others are cutting costs and scrapping TV shows at record rates; 559 scripted shows were released in 2021, up by 200+ on 2013

Discussion: @merrillbarr, @trengriffin, @lucas_shaw, @mattrosoff and The Streamable, more at Techmeme »

Alex J. Rouhandeh / Newsweek:

IBT Media sues Newsweek and its CEO, seeking to cancel the 2018 deal to spin out Newsweek, which IBT claims was a PR stunt to shield the magazine from bad press — IBT Media is asking a New York court to cancel a 2018 deal in which Newsweek was spun off as an independent company …

Discussion: @zzzzaaaacccchhh, @mathewi, @film_girl, @moorehn, @naveedajamali, @petersgoodman, @natsecjeff, @sivavaid, @jeffjarvis, @bmorrissey, @mattgertz, @petersterne and MediaPost

Cristina Criddle / Financial Times:

Sources: TikTok abandons plans to expand its TikTok Shop live e-commerce program to Europe and the US, after internal problems and a lack of traction in the UK — Chinese-owned social media platform's foray into livestream shopping in the UK has struggled to gain traction

Discussion: The Verge, The Information, The Drum, @martinsfp, TechCrunch, Music Business Worldwide, @adhutchinson, 9to5Mac, @ericjhonsa, @adrianweckler, @iiiitsandrea, PRWeek, @mattnavarra, Tubefilter and Newslit Daily, more at Techmeme »

Erik Crouch / Committee to Protect Journalists:

The CPJ says the US should ensure accountability in Shireen Abu Akleh's killing, after the US said a probe found no reason to believe her death was intentional — The U.S. government should ensure that those responsible for the killing of Palestinian American journalist Shireen Abu Akhleh …

Discussion: United States Department …, @btselem, @bowenbbc, @pwidakuswara, @jstreetdotorg, @btselem, @jjz1600, Voice of America, Al Jazeera, New York Times, @pressfreedom, @kenklippenstein, @maxberger, @colinkalmbacher, Jewish Telegraphic Agency, Politico and Mediaite

Foo Yun Chee / Reuters:

EU lawmakers pass the Digital Services Act and the Digital Markets Act, seeking to regulate US tech giants, but limited resources could hamstring enforcement — EU lawmakers gave the thumbs up on Tuesday to landmark rules to rein in the power of tech giants such as Alphabet (GOOGL.O) …

Discussion: LinkedIn, @bertuzluca, Input, Gizmodo, Bloomberg, @tariqkrim, @thierrybreton, 9to5Mac, AppleInsider, European Parliament, @carnage4life, @slightlylate and MacRumors, more at Techmeme »

Stephen Grey / Reuters:

In a Reuters interview from jail, the man accused of detonating the car bomb that killed Maltese journalist Daphne Caruana Galizia confesses to the crime — The man accused of detonating a car bomb that killed a prominent Maltese journalist has confessed to the crime in an interview …

Discussion: @stephengrey, The Daily Beast, @sarah_m_clarke, The Guardian, @rebecca_vincent, @w7voa, @globalfreemedia, @wonderymedia and Politico

Chris Roush / Talking Biz News:

Bloomberg News' investigations team adds five members, including four from BuzzFeed News: Anthony Cormier, Jason Leopold, Kendall Taggart, and Alex Campbell — Bloomberg senior executive editor Otis Bilodeau and executive editor Robert Blau sent the following memo to Bloomberg's investigations team on Tuesday:

Discussion: @jasonleopold, @kendallttaggart, @georgewpapajohn, @kenbensinger, @levinecarrie, @sarahfrier, @katherineeban, @coreygjohnson and @kantrowitz

Elizabeth Aubrey / NME:

David Crosby, Stephen Stills, and Graham Nash's music returns to Spotify, after they removed it in February in solidarity with Neil Young's Joe Rogan protest — Of the news, David Crosby said: “I don't own it now and the people who do are in business to make money”

Discussion: Billboard, New York Post, UPROXX, The Independent, The Daily Beast, Consequence, Pitchfork, Engadget, EssentiallySports, The Verge, Stereogum, New York Post, The Wrap, Los Angeles Times, Deadline, Hollywood Reporter and Axios

Gary Ng / iPhone in Canada Blog:

Canada's CBC News plans to launch a free, ad-supported streaming news channel for local, national, and current affairs, on digital and TV platforms this fall — CBC News announced on Thursday it will be launching a new ad-supported streaming channel across its digital platforms this fall.

Discussion: @greenfield64 and @jackshafer

Lauren Easton / Associated Press:

The Associated Press reopens its Gaza Strip bureau in a new location over a year after an Israeli airstrike destroyed the building housing its former office — Over a year after the building housing the news agency's Gaza bureau was destroyed in an Israeli airstrike, The Associated Press announced today …

Discussion: Mediaite, @katzonearth, @rosiescammell, @hallamohieddeen, @juliepace and Jewish Telegraphic Agency

Reuters:

French music streamer Deezer goes public via a SPAC merger on the Euronext stock exchange, opening at €8.50 per share before dropping 29.41% to €6 — Shares of French music-streaming platform Deezer plunged as much as 35% on its first trading day, in a blow to telecoms maverick Xavier Niel …

Discussion: Music Business Worldwide and Light Reading, more at Techmeme »

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