Top News:
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, 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 …
Discussion:
News Corp, Sydney Morning Herald and News Corp
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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CNET, The Wrap, MediaPost, CBS News, Engadget, Variety, UPI, TechCrunch, Fortune, CNBC, Reuters, Deadline, New York Daily News, The Information, @sdkstl, @aripap, @sarafischer, @sarafischer and Bloomberg, more at Techmeme »
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, The Wrap, Axios, Bloomberg, Financial Times, Deadline, Forbes, Los Angeles Times, New York Post, The Information, SlashFilm, 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, Deadline, Fortune, @stevekovach, @scottgustin, @jbflint, The Streamable, CBR, CNN, IndieWire, @richlightshed, Variety, @aagave, @jyarow, The Hollywood Reporter, Media Play News, Collider and Cord Cutters News
Lauren Forristal / TechCrunch:
Disney ended 2022 with 161.8M Disney+ global subscribers, down 1% QoQ, its first drop since 2020's launch; Hulu had 48M and ESPN+ had 24.9M, both up 2% QoQ
Discussion:
MediaPost, The Streamable, IndieWire, @trengriffin, WORLD SCREEN, Rolling Stone, masslive.com and The Wrap
Todd Spangler / Variety:
Disney cuts its workforce by 7,000, or 3.2% of its ~220,000 global headcount, as the company tries to save $5.5B in costs, including $2.5B in non-content costs
Discussion:
The Hollywood Reporter, The Economist, Variety, Forbes, Reuters, Variety, Light Reading, Advanced Television, Front Office Sports, Fast Company, @xpangler, @aagave, @brooksbarnesnyt, AdExchanger, Fortune, Barrett Media, CBS News, CNBC, Above the Line, CNN, The Verge, CNET, Adweek, Skift, Associated Press, The A.V. Club, IGN, The Guardian, Insider, IndieWire, Media Play News, The Wrap, New York Times, Los Angeles Times, Financial Times and Wall Street Journal
Todd Spangler / Variety:
Disney reports Q1 revenue up 8% YoY to $23.51B, vs. $23.37B est., direct-to-consumer revenue up 13% YoY to $5.3B, and operating loss rose $0.5B to $1.1B
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Madison and Wall, The Wrap, @jbflint, The Week, @loudmouthjulia, @xpangler, @edmundlee, @thedeskdotnet, @thedeskdotnet, @richlightshed, @thedeskdotnet, @edmundlee, CBR, Business Wire, The Hollywood Reporter, Zacks Investment Research, Collider, SlashFilm, NPR, Front Office Sports, UPI, Next TV, IndieWire, Observer, The Wrap, Screen Rant, Forbes, IGN and CNBC
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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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, New York Daily News and Deadline
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
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 …
Discussion:
New York Times, Washington Post, CNN, @newsnation, Mediaite, @newsnation, @newsnationpr, U.S. Press Freedom Tracker, ABC News, The Wrap, @pressfreedom, Boing Boing, TMZ.com, Committee to Protect …, @newsnation, WKBN-TV, UPI, @sarasidnercnn, Newser, The Desk, @kimberlyeatkins, @statter911, @joshtpm, @matthewkeyslive, @axios, @richmchugh, @joshtpm, @4lisaguerrero, @annalysagayle, @jatara_, @theredrummedia, @newsnation, @allthingsnatsec, @brianstelter, @kaitlancollins, @davidpepper, @taylorpopielarz, @walterreports, Associated Press, HuffPost, Fox News, The Daily Beast, Deadline and FTVLive
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 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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