Mediagazer: 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 (Alex J. Rouhandeh/Newsweek)

3:50 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, Deadline, Bloomberg, @geopolitics_emp, Idaho Mountain Express, The Apple Post, @vanityfair, @mlcalderone, iTech Post, @mlcalderone, Forbes, MacRumors, AppleInsider, 9to5Mac and The Hollywood Reporter

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: MediaPost, @mathewi, @mattgertz, @naveedajamali, @petersgoodman, @natsecjeff, @sivavaid, @jeffjarvis, @bmorrissey and @petersterne

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

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, TechCrunch, PRWeek, The Drum, Music Business Worldwide, @adrianweckler, Tubefilter, @iiiitsandrea, @adhutchinson, 9to5Mac, @mattnavarra and Newslit Daily, more at Techmeme »

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

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

Foo Yun Chee / Reuters:

EU lawmakers pass the Digital Services Act and Digital Markets Act, seeking to regulate US tech giants, but enforcement could be hamstrung by limited resources — 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: @bertuzluca, Bloomberg, LinkedIn, Engadget, Euractiv, @tariqkrim, @thierrybreton, 9to5Mac, AppleInsider, European Parliament, @carnage4life, Broadband TV News, MacRumors and TechCrunch, more at Techmeme »

Stephen Grey / Reuters:

In a jailhouse interview, 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 with a Reuters reporter …

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

Colby Hall / Mediaite:

NPR ends its 33-year tradition of reading the US Declaration of Independence on July 4, instead discussing the meaning of the phrase “all men are created equal” — Morning Edition host Steve Inskeep typically celebrates July 4th with an annual reading of the Declaration of Independence to his loyal listeners on NPR.

Discussion: @leilafadel, @grahambrewer, @nprinskeep, @sarahmccammon, @nprinskeep, @nprinskeep, New York Post, @danielberman2, @allisonlcarter, @smotus, The Wrap, Fox News and NPR

Reuters:

French music streamer Deezer goes public via SPAC on the Euronext stock exchange, opening at €8.50/share before dropping ~27% to around €6.50 — 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 »

Lauren Easton / Associated Press:

The AP reopens its Gaza bureau in a new location over a year after the office building of the previous one was destroyed in an Israeli airstrike — 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: Jewish Telegraphic Agency, @rosiescammell, @hallamohieddeen and @juliepace

Terence McGinley / New York Times:

Q&A with NYT's David Fahrenthold on why the world of nonprofit charities is prime for investigative reporting, how he became an investigative reporter, and more — David Fahrenthold of The Times discusses why the world of nonprofit charities is prime for investigative reporting.

Discussion: @hollyvhays, @michaelkruse, @houmanitarian and @ngreenberg

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