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.
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Alex Weprin / The Hollywood Reporter:
News Corp plans to cut its headcount by ~5%, or ~1,250 positions, and says it is still in talks to potentially sell its digital real estate unit — The owner of The Wall Street Journal and Dow Jones was impacted by a difficult economic environment. … In the company's fiscal Q2 earnings report …
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Australian Financial Review, CNBC, Wall Street Journal, The Wrap, Variety and @mvpeers
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Reuters:
News Corp Q2: revenue down 7% YoY to $2.52B, vs. $2.55B est., net income down 64% YoY to $94M, book publishing revenue down 14%, and news media revenue down 9% — Media conglomerate News Corp (NWSA.O) said on Thursday that it would cut 1,250 jobs after it missed estimates for second-quarter earnings due …
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News Corp and Sydney Morning Herald
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.
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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 …
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New York Times, Axios, The Wrap, Deadline, Forbes, Los Angeles Times, Bloomberg, Financial Times, New York Post, The Information, SlashFilm, Variety and Media Play News
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.
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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’
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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
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
NewsNation:
NewsNation reporter Evan Lambert was freed from jail late February 8 after being arrested giving a live report at Ohio Governor Mike DeWine's press conference — EAST PALESTINE, Ohio (NewsNation) — A NewsNation reporter was released from jail late Wednesday after being arrested earlier …
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Scott Mendelson / The Wrap:
Lionsgate beats Q3 estimates with $1B in revenue and $16.6M in net income; Starz subscribers total 37M+ globally, or 26M not counting 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, @danrayburn, Lionsgate and Media Play News
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