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8:20 PM ET, August 4, 2022

Mediagazer

 Top News: 
Alex Weprin / The Hollywood Reporter:
Warner Bros. Discovery reports Q2 revenue of $9.8B, vs. $11.9B est., a $3.4B net loss, and 92.1M subscribers, counting HBO Max and Discovery+; stock falls 10%+  —  The company is on a mission to find billions of dollars in cost savings.
RELATED:
Todd Spangler / Variety:
On its Q2 2022 earnings call, Warner Bros. Discovery announced plans to launch a combined HBO Max and Discovery+ streaming service in the US in summer 2023  —  HBO Max and Discovery+ will launch in the U.S. as a single service in the summer of 2023, JB Perrette, CEO and president …
Rick Edmonds / Poynter:
Gannett executives expect economic uncertainty for the rest of 2022, will speed up real estate sales to pay down debt, and will cut staff “in the coming days”  —  Digital subscriptions are up, but, as expenses rise, other revenue streams are in a freefall
RELATED:
USA Today:
Gannett reports Q2 revenue down 6.9% YoY to $748.7M, a $53.7M net loss, revises guidance down, and plans real-estate sales and cost cutting; stock down ~28%
Oliver Darcy / CNN:
A jury finds that Alex Jones should pay $4M+ in compensatory damages to two Sandy Hook parents; a separate trial is expected to settle punitive damages  —  New York (CNN Business)Right-wing talk show host Alex Jones will have to pay the parents of a Sandy Hook shooting victim a little …
RELATED:
Natalie Musumeci / Insider:
Alex Jones' trial reveals that Infowars made as much as $800K per day in 2018, and that the fake news site made $70M in revenue in its most recent fiscal year
The Wrap:
Paramount reports Q2 revenue rose 19% YoY to $7.7B, while operating income fell 33% YoY to $819M, and says Pluto TV has nearly 70M MAUs  —  Paramount Global on Thursday beat analyst revenue expectations for its 2022 second quarter earnings, thanks largely in part to the humongous, $1 billion+ performance of “Top Gun: Maverick.”
RELATED:
Georg Szalai / The Hollywood Reporter:
Paramount reports nearly 64M global streaming subscribers in Q2 2022, up from 62M+ in Q1 2022, and 43M+ Paramount+ subscribers in Q2, up from ~39.6M in Q1
Tarpley Hitt / Gawker:
Seven sources close to The New Yorker say Erin Overbey's public version of events leading up to her firing excludes critical context about her job performance  —  Two weeks ago, The New Yorker fired its archivist, Erin Overbey, after the longstanding staffer wrote an extensive thread blasting the magazine and top editor David Remnick.
Jacob Liedke / Pew Research Center:
Survey: 16% of US journalists are in a union and 41% say they would join if one were available; 57% of those aged 18-29 would join vs. 33% of those aged 50-64  —  At a time when newsrooms in the United States are seeing a wave of unionization, around one-in-six U.S. journalists …
Ron French / Bridge Michigan:
A Michigan town votes to defund its library because its employees declined to remove LGBTQ-themed books; the library will likely run out of money in late 2023  —  - A west Michigan public library may close after residents voted to defund it Tuesday  — Voters are upset about LGBT-themed graphic novels in the library
AJ Vicens / CyberScoop:
Mandiant researchers find a network of at least 72 fake news sites pushing Chinese propaganda in North America, Europe, the Middle East, and Asia  —  A network of at least 72 bogus news sites in North America, Europe, the Middle East and Asia are part of a sprawling information operation …
Discussion: Mandiant and Bloomberg
Josh Eidelson / Bloomberg:
Unionized Thomson Reuters journalists in the US launch a 24-hour strike, over pay raises, starting at 6am ET on August 4, the first walkout in decades  —  Thomson Reuters Corp. journalists in the US are preparing to launch a daylong strike Thursday, the first walkout in decades among the media company's long-unionized staff.
Wall Street Journal:
A look at Netflix scrambling to build an ad business and revive its subscriber growth; sources: Reed Hastings expects Netflix could charge ~$80 per 1,000 views  —  Reed Hastings insisted on focusing on subscriptions until competitors started nibbling away at his business model
 
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 More News: 
Oliver Darcy / CNN:
ABC names Alyssa Farah Griffin and Ana Navarro as permanent co-hosts of The View; a CNN spokesperson says both will remain CNN political commentators
 Earlier Picks: 
Jessica Bromley / BARB:
Survey: in Q2, 67% of UK households had a streaming subscription, down almost 2% from Q1, as Netflix subscriptions fell 1%, Prime Video 4%, and Sky Now 3%
Discussion: The Guardian and Variety
Aisha Malik / TechCrunch:
Meta plans to shut down its Facebook Live Shopping feature on October 1, as the company shifts its focus to Reels on Facebook and Instagram
 

 
From Techmeme:

Mark Gurman / Bloomberg:
Sources: Apple is working on a smart doorbell system with advanced facial recognition that can wirelessly connect and unlock third-party smart locks

Lee-Anne Mulholland / The Keyword:
Google files its proposed remedies in the DOJ's search antitrust lawsuit, including letting browser companies have multiple default agreements across platforms

Wall Street Journal:
Gina Raimondo says holding back China in the chips race is a “fool's errand”, and investment, more than export controls, will keep US ahead of Beijing
 
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