Mediagazer: 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” (Lillian Rizzo/CNBC)

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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 …

Discussion: Australian Financial Review, CNBC, Wall Street Journal, The Wrap, Variety and @mvpeers

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 …

Discussion: News Corp and Sydney Morning Herald

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, The Wrap, Forbes, Los Angeles Times, Bloomberg, Financial Times, New York Post, The Information, SlashFilm, Variety and Media Play News

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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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.

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

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

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

Todd Spangler / Variety:

Dish's Sling TV rebrands Sling Free to Sling Freestream, which will carry 210 free channels, 41K+ on-demand titles, and expand further by the end of spring 2023 — Sling TV, the internet-streaming division of Dish Network, is doubling down on free, ad-supported streaming television (FAST) …

Discussion: Fast Company, CNET, Media Play News, Broadband TV News, The Streamable, Light Reading, The Desk, TechCrunch, The Hollywood Reporter and Cord Cutters News