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4:40 PM ET, May 9, 2023

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 Top News: 
Chloe Berger / Fortune:
The NYT faces criticism for its sympathetic Elizabeth Holmes profile, which glossed over the potentially massive consequences of her fraud  —  Elizabeth Holmes, the former entrepreneur who was convicted of one of the biggest frauds in business history, swapped out her trademark black turtleneck …
Axios:
Sources: NBCUniversal is finalizing a settlement with CNBC's Hadley Gamble, who is leaving the company and whose complaint led to CEO Jeff Shell's firing  —  NBCUniversal is finalizing a settlement with CNBC senior international correspondent Hadley Gamble, sources tell Axios.
NBC News:
A jury finds Donald Trump liable for sexually abusing and defaming writer E. Jean Carroll, awarding her $5M in her civil suit, but rejects her rape claim  —  Carroll sued the former president, accusing him of battery over an alleged rape in the 1990s and of defamation for calling her account a “hoax.”
Jennifer Maas / Variety:
AMC Networks Q1: revenue up 0.7% YoY to $717M, operating income down 0.8% YoY to $173M, US ad sales down 20% YoY; streaming subs fell to 11.5M from 11.8M in Q4  —  This drop in subs follows a slight increase of 700,000 paid streaming customers between Q3 and Q4 of last year.
Jennifer Maas / Variety:
MTV News is shutting down, as Showtime, MTV Entertainment Studios, and Paramount Media Networks lay off about 25% of their employees in the US  —  Layoffs will be hitting 25% of employees across the Showtime, MTV Entertainment Studios and Paramount Media Networks groups in the U.S. Tuesday …
Sara Fischer / Axios:
Crypto outlet Blockworks raised $12M at a $135M post-money valuation led by 10T Holdings to further develop its nascent research and data analytics offering  —  Blockworks, a media company that covers cryptocurrency for professionals, has raised $12 million at a $135 million post-money valuation …
J. R. Moehringer / New Yorker:
The ghostwriter of Prince Harry's memoir Spare on becoming a ghostwriter, gaining a new perspective on the tabloids after the UK media covered him, and more  —  Collaborating on his memoir, “Spare,” meant spending hours together on Zoom, meeting his inner circle, and gaining a new perspective on the tabloids.
Aisha Malik / TechCrunch:
Meta tests paying Facebook creators based on public Reels' performance, instead of ad earnings, and plans to roll out payouts to Instagram in the coming weeks  —  Meta is testing a new payout model for its Ads on Reels monetization program that pays creators based on the performance of their public Reels …
Katie Robertson / New York Times:
Former Fox News producer Abby Grossberg voluntarily dismisses one of her lawsuits against the network; her lawyer says she intends to refile in the coming weeks  —  The lawsuit, brought by Abby Grossberg, accused the cable network of pressuring her to lie in a deposition.
Discussion: Gizmodo and Reuters
Anna Nicolaou / Financial Times:
Alex Weprin / The Hollywood Reporter:
Fox Corp. reports Q3 revenue up 18% YoY to $4.08B and a $50M loss, primarily due to the Dominion settlement; ad revenue rose 43% YoY 1.86B due to the Super Bowl  —  The Super Bowl helped Fox's advertising revenue improve by 43%.  —  The high-profile settlement between Fox Corp …
 
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 More News: 
Diana Li / Bloomberg:
After GPTZero gained 1.2M users since January, co-founder Edward Tian raised $3.5M to launch Origin, aimed at “saving journalism” by detecting AI disinformation
 Earlier Picks: 
David Smith / The Guardian:
Critics question CNN's Donald Trump town hall, set for an hour of prime time on Wednesday, fearing that the mainstream media will repeat its mistakes from 2016
Alexandra Bruell / Wall Street Journal:
Sources: NYT is getting ~$100M from Google over three years as part of a deal allowing Google to feature Times content on its platforms, including News Showcase
David Pierce / The Verge:
How Google's attempt to create a better, faster mobile web for media companies with the AMP standard ended up ruining publishers' trust in the internet giant