Top News:
Alex Weprin / The Hollywood Reporter:
Warner Bros. Discovery reports 92.1M subscribers, counting HBO Max and Discovery+, rev. of $9.8B vs. $11.9B est., a loss of $3.4B; stock falls ~8% after hours — The company is on a mission to find billions of dollars in cost savings.
Discussion:
Warner Bros. Discovery, New York Times, @billkuchman, SlashFilm, TechCrunch, Forbes, Variety, Variety, Gizmodo, New York Post, @aagave, @masasoncap, @sherman4949, CNBC, @azalben, @tvmojoe, @aagave, @natjarv, @natjarv, @natjarv, @natjarv, @natjarv and @loudmouthjulia
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Todd Spangler / Variety:
On its earnings call, Warner Bros. Discovery announced that HBO Max and Discovery+ will launch as a combined streaming service in the summer of 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 …
Discussion:
CNET, The Streamable, ScreenRant, The Wrap, SlashFilm, Looper, TV Insider, Media Play News, @dylanbyers, @xpangler, @natjarv, @zaackhunt and Deadline
Oliver Darcy / CNN:
A jury finds that Alex Jones should pay ~$4M in compensatory damages to two Sandy Hook parents; punitive damages are to be settled separately — 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 more than $4 million …
Discussion:
@popehat, NPR, CBS News, UPI, @popehat, @oneunderscore__, @popehat, @popehat, @hesherman, Jezebel, @themichaelmoran, @oliverdarcy, Glamour and Metro.co.uk
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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
Discussion:
VICE, Associated Press, @oneunderscore__, The Wrap, Mediaite, @willsommer, Forbes, NBC News, New York Post, @bgrueskin, Vox, New York Times, @bestforbritain, @jonallendc, @_secondthought, @atrachelgilmore, @dansolomon, @dansolomon, @elise_jordan, @reallorraine, @jeffjarvis, @egavactip, @cameronwilson, @gideonrachman, @froomkin, @maitlis, @zeynep, @janusrose, @nandoodles, @oneunderscore__, @annamerlan, @darbyscastle, @stevesilberman, @randfish, @maxapotter, @jenmercieca, @hasanthehun, @oneunderscore__, @emptywheel, @emptywheel, @realkellyjones, @popehat, @insidernews, @thetweetofjohn, Associated Press, VICE, Deadline and Law & Crime
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.”
Discussion:
Deadline, MediaPost, @aurahack, IndieWire, Variety, @tvgrimreaper, @kirbyslastsnack, UPI, Engadget and Paramount
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Georg Szalai / The Hollywood Reporter:
Paramount reports nearly 64M global streaming subscribers in Q2, up from 62M in Q1, and 43M+ Paramount+ subscribers, up from 39.6M in Q1
Discussion:
Variety, The Streamable, @tvgrimreaper, @adrianweckler, @thr, Adweek, TechCrunch, @xpangler, Deadline, The Streamable, @thr, @kimmasters and @xpangler
Rick Edmonds / Poynter:
Gannett execs say the company expects economic headwinds all year, will speed up real estate sales to pay down debt, and will make staff cuts in coming days — Digital subscriptions are up, but, as expenses rise, other revenue streams are in a freefall — Gannett recorded …
Discussion:
MediaPost, New Jersey Globe, @danrshafer, @jeremylittau, The NewsGuild, @giambusso, @newsguild, @gaufre, @bymikedavis and @poynter
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USA Today:
Gannett reports Q2 revenue down 6.9% YoY to $748.7M, a net loss of $53.7M, revises guidance down, and plans cost cuts and real-estate sales; stock falls ~28%
Discussion:
@npenzenstadler, Gannett, @sulliview, @verano305, @mattdpearce, @dinfontay, @hilton_annmarie, @mattlaslo, @elaheizadi, @tednesi, @marshallramsey, @jeffplatsky, @jonchesto, @nikkiusher, @jgrzelewski, @matttraub, @larryryckman, @freedom22bb, @joshua_newman, @gaufre, @rickedmonds, @svenaurich and @coreyhutchins
fuboTV:
FuboTV reports Q2 revenue up 65% YoY to $216.1M, a net loss of $116.3M compared to $94.9M for the quarter a year ago, and paid subscribers up 41% YoY to 946,735 — NEW YORK—(BUSINESS WIRE)— FuboTV Inc. (NYSE: FUBO), the leading sports-first live TV streaming platform …
Discussion:
Next TV, Front Office Sports, @tvgrimreaper and fuboTV
Josh Eidelson / Bloomberg:
Unionized Thomson Reuters journalists in the US plan a 24-hour strike starting at 6am ET on August 4, the first walkout in decades, over pay raises — 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.
Discussion:
@reutersguild, @laurenkgurley, @katielpaul, Poynter, @reutersguild, @drixander, @josheidelson, @randewich, @sineadcarew, @fedcourtjunkie, @juliocesrchavez, @dlind, @mattmillsphoto, @sarahnlynch, @nicholagroom, Observer, @nyguild, @six6jiang, @peard33, @josheidelson, @sarahnlynch, @nylahuda, @newyorkerunion, @reuterszengerle, @nickpbrown, @felixsalmon, @rover829, @josheidelson, @josheidelson and Press Gazette
Tarpley Hitt / Gawker:
Seven sources close to The New Yorker say Erin Overbey's public version of events leading up to her firing leaves out 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 …
Discussion:
@thatjenmonroe, @jessesingal, @brandonetc, @benjamingoggin, @noahyoo, @ericdharvey and Today in Tabs
Jacob Liedke / Pew Research Center:
Survey: 16% of US journalists are in a union and 41% say they would join one if it were available; 57% of those age 18-29 would join vs. 33% of those 50-64 — At a time when newsrooms in the United States are seeing a wave of unionization, around one-in-six U.S. journalists at news organizations report …
Discussion:
@joshuaerlich, @thesarahkelly, @johngramlich and @pewjournalism
Wall Street Journal:
A look at Netflix's scramble to build an ad business as its subscriber growth lags; sources say Reed Hastings suggested Netflix could charge $80 per 1,000 views — Reed Hastings insisted on focusing on subscriptions until competitors started nibbling away at his business model
Discussion:
@valuetom84, Newslit Daily, @astaniscia86, @asharma, @benmullin, @bysarahkrouse, @carlquintanilla, @mediainsider and Insider, more at Techmeme »
Ron French / Bridge Michigan:
A Michigan town votes to defund its library because library staffers refused to remove LGBTQ-themed books; the library will likely run out of money by 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
Discussion:
Literary Hub, @phil_lewis_, @lebatardshowfan, @lebatardshowfan, @lebatardshowfan, @lebatardshowfan, Insider, @bracknerrichard, @ncshusterman, @ryanbeckwith, @lebatardshowfan, @mariskreizman, @purplechrain, @ohiohag, @ord_red, @mimzway, @amescg, @mariskreizman, @mikebutcher, @blakepater, @xtheexiled and @stevesilberman
AJ Vicens / CyberScoop:
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 pushing Chinese propaganda …
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