Top News:
Sara Fischer / Axios:
Yahoo plans to lay off 20%+ of its workforce and restructure its ad tech unit, impacting 50%+ of the unit, or 1,600+ people; CEO says the cuts are “strategic” — Yahoo plans to lay off more than 20% of its total workforce as part of a major restructuring of its ad tech unit, executives told Axios.
Discussion:
@aripap, The Information, CNBC, Reuters, CNET, CBS News, Engadget, UPI, The Wrap, @sdkstl, New York Daily News, MediaPost, @sarafischer, @sarafischer, Variety, TechCrunch, Fortune, Deadline and Bloomberg, more at Techmeme »
Alex Weprin / The Hollywood Reporter:
News Corp plans to cut its headcount by ~5%, or ~1,250 positions, by the end of 2023 and says the company is still in talks to sell its digital real estate unit — The owner of The Wall Street Journal and Dow Jones was impacted by a difficult economic environment.
Discussion:
Australian Financial Review, CNBC, Wall Street Journal, The Wrap, Variety and @mvpeers
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Lillian Rizzo / CNBC:
Nelson Peltz drops his proxy fight after Disney unveils a reorganization, job cuts, and cost reductions: “Disney plans to do everything we wanted them to do” — Follow your favorite stocksCREATE FREE ACCOUNT — Nelson Peltz declared the proxy fight between his firm …
Discussion:
New York Times, Axios, Deadline, Bloomberg, The Wrap, New York Post, SlashFilm, Financial Times, The Information, Forbes, Los Angeles Times, Variety and Media Play News
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Rebecca Picciotto / CNBC:
Disney CEO Bob Iger says “everything is on the table” when it comes to Hulu, after sharing his plans to pare back the company's general entertainment content — Follow your favorite stocksCREATE FREE ACCOUNT — Disney CEO Bob Iger said Thursday that “everything is on the table” with streaming service Hulu.
Discussion:
@sherman4949, The Wrap, The A.V. Club, Deadline, Fortune, @stevekovach, @scottgustin, @jbflint, CBR, CNN, IndieWire, @richlightshed, Variety, @aagave, @jyarow, The Streamable, The Hollywood Reporter, Media Play News, Collider, Cord Cutters News and Variety
New York Times:
After a three-month strike, the HarperCollins union and the company reach a tentative deal that includes increasing minimum salaries and a one-time $1,500 bonus — After a three-month strike, the two parties reached a tentative deal that includes wage increases and a one-time bonus.
Discussion:
Wall Street Journal, @maureenjohnson, @hcpunion and @liz_a_harris
Jon Christian / Futurism:
After a physician found 18 errors, Men's Journal rewrites and adds a note to its first AI-written article and says “early experiments are a work in progress” — THE OWNERS OF SPORTS ILLUSTRATED AND MEN'S JOURNAL PROMISED TO BE VIRTUOUS WITH AI.
Discussion:
@jon_christian, MediaPost, @parismarx, @miarsato, @smashdawg, @jon_christian, @dannyoneil, @daveyalba, @sowmyak, @allisonlcarter, @chrismoranuk, @libshipwreck, @harrymccracken, @jjvincent, @jon_christian, @dkthomp, @laura_nelson, @slotkinjr, @fabiochiusi, @juliacarriew, @jasonabbruzzese, @laurengoode, The Daily Beast, @dylpar252 and @weareyourfek
Isobel Lewis / The Independent:
UK media watchdog IPSO plans to investigate Jeremy Clarkson's Sun column on Meghan Markle and publish the results, after receiving a record 25,100+ complaints — Press watchdog received more than 25,100 complaints about column — Culture secretary defends Jeremy Clarkson's ‘right to say what he wants’
Discussion:
Deadline, @marionmain3, The Guardian, @hackinginquiry, Hacked Off and The Hollywood Reporter
Mark Stenberg / Adweek:
Ad supply-side platform EMX and its parent company Big Village file for Chapter 11 bankruptcy; sources say EMX began struggling to pay partners in summer 2022 — The vendor, a subsidiary of Big Village, owed hundreds of thousands in unpaid revenue
Discussion:
BK Data, AdExchanger, @markstenberg3 and Bloomberg Law
Semafor:
Sources: two investors looking to buy Forbes, India's Shiv Khemka and Silicon Valley's GSV, seek to rope in US investors to smooth CFIUS' approval of the deal — Fear of U.S. government scrutiny is holding up a deal to sell Forbes to a foreign buyer, leaving the company scrambling …
Discussion:
@jackshafer, @semaforben and @semaforben
Scott Mendelson / The Wrap:
Lionsgate reports Q3 revenue up 13% YoY to $1B and $16.6M net income, vs. a $45.6M net loss YoY, and 35.1M Starz subscribers, or 33M without Starzplay Arabia — Lionsgate, the Santa Monica studio and owner of the Starz cable network, came in well above market expectations as it reported results for its third quarter Thursday.
Discussion:
Variety, Media Play News, Lionsgate and @danrayburn
Brian Lowry / CNN:
The departures of James Corden, Trevor Noah, Conan O'Brien, Samantha Bee, and Desus and Mero signal the demise of the “later-night TV” genre — The anchors of late-night TV remain in place with Jimmy Fallon, Stephen Colbert and Jimmy Kimmel, the last having recently signed …
Discussion:
Forbes, @adamconover, @mametown, @tvgrimreaper and New York Daily News
Bron Maher / Press Gazette:
Analysis: 27 of the highest earning Substack newsletters generate at least $22M in annual revenue together; at least five of them make $1M annually each — The figures reveal that at least five Substacks draw in $1m annually. — The 27 highest-earning email newsletters on the platform Substack generate …
Discussion:
@mikeorren, Quillie's Substack, @robinwigg, @pressgazette, Empowered Way and @jackmarshall
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