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12:10 PM ET, October 28, 2022

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 Top News: 
Washington Post:
Elon Musk takes over Twitter and fires several top executives, including CEO Parag Agrawal, CFO Ned Segal, and policy head Vijaya Gadde  —  Musk's $44 billion deal to acquire the social media company closed on Thursday night.  —  SAN FRANCISCO — Elon Musk became Twitter's owner late Thursday …
RELATED:
Todd Spangler / Variety:
Wall Street Journal:
Sources: ahead of Elon Musk's takeover, advertisers on Twitter are concerned about looser content moderation and potential conflicts of interest for car ads  —  Marketers worry about the Tesla CEO's stance on content moderation, potential conflicts in auto advertising if the Twitter deal completes
Erik Wemple / Washington Post:
A reassessment of The New York Times' apology and James Bennet's firing after Sen. Tom Cotton's op-ed: Bennet was right and Publisher A.G. Sulzberger was wrong  —  Controversy over an op-ed by Sen. Tom Cotton (R-Ark.) consumed the New York Times in June 2020 and claimed the job of then-editorial page editor James Bennet.
Defector:
Defector reports $3.8M in annual revenue, up from $3.2M in 2021, $3.7M in expenses, up from $3M in 2021, and 38K subscribers, who generated 95% of its revenue  —  Purpose of this report  —  Defector continues to have no outside investors and no intention of raising outside capital.
Ashley King / Digital Music News:
Music streaming service LiveOne and its subsidiary Slacker say a ruling ordering them to pay SoundExchange ~$10M in royalties could cause financial ruin  —  Is Slacker headed for bankruptcy?  The company says SoundExchange's $10 million judgment could destroy them.
Discussion: Billboard and RAIN News
David Gutman / The Seattle Times:
A Washington judge fines Meta $24.66M, the maximum possible amount, after finding the company intentionally violated campaign finance disclosure laws 822 times  —  Meta, Facebook's parent company, was fined nearly $25 million Wednesday for intentionally and repeatedly violating Washington's campaign finance laws.
Benjamin Mullin / New York Times:
In an email, Chris Licht told staff that CNN will stop buying documentary films and original TV series and instead use long-form content produced internally  —  Acquired and commissioned documentary movies and TV shows like ‘Navalny’ and ‘Stanley Tucci: Searching for Italy’ are going away.
Discussion: Variety, IndieWire and @elwasson
Daniel Finn / The Wire:
Q&A with Tom Mills, the author of The BBC: Myth of a Public Service, on the BBC's start in 1922, government relationships, rethinking the license fee, and more  —  No broadcaster in the world today can rival the cultural prestige of the UK's British Broadcasting Corporation (BBC).
Kaya Yurieff / The Information:
Twitter confirms it shut down its Ticketed Spaces test indefinitely before Elon Musk's takeover of the company  —  Before Elon Musk's takeover of Twitter, the company paused paid tickets to its live audio feature Spaces, the social network confirmed.  “We've paused the Ticketed Spaces test indefinitely …
Agence France-Presse:
AFP and Twitter partner to elevate credible information in Spanish in Latin America, Spain, and the US, a month after announcing a deal for Portuguese in Brazil  —  AFP, one of the world's leading news agencies, and Twitter announced on Thursday a collaboration to identify …
Discussion: Adweek
The Verge:
Spotify updates its iOS app to remove audiobook purchasing instructions, replaced with a message saying “it's not ideal”, to comply with Apple's App Store rules  —  An update for Spotify's iOS app released Thursday had a big change for its audiobooks vertical — and not for the better.
 
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 More News: 
Kif Leswing / CNBC:
Apple's Services revenue grew 4.98% YoY to $19.19B vs. $20.1B expected in Q4; fiscal year Services growth was above 14%, slower than 2021's 16% and 2020's 27%
Annie Palmer / CNBC:
Amazon reports Q3 advertising services revenue grew 25% YoY to $9.55B vs. $9.48B est., and subscription services revenue grew 9% YoY to $8.9B
Todd Spangler / Variety:
The New York Post fires an employee who hijacked its website and Twitter account to share racist and violent posts, calling the content “vile and reprehensible”
Davey Alba / Bloomberg:
NewsGuard: partisan organizations masquerading as local news outlets have spent about $3.94M on Facebook and Instagram ads so far in 2022, per Meta's Ad Library
 Earlier Picks: 
Patrick Coffee / Wall Street Journal:
NYC-based OpenWeb, which helps outlets target readers with ads and manage comments, raised a $170M Series F at a $1.5B valuation, up from $1B+ in November 2021
Daniel Zuidijk / Bloomberg:
Web Summit rescinds invitations to The Grayzone speakers, after a backlash over the website claiming Ukraine's government and military are sympathetic to Nazis