Top News:
Lucas Shaw / Bloomberg:
Profits at the largest US entertainment companies fell over 60% since 2013, despite mergers, as it took record sums of money to build new streaming businesses — Good afternoon from Los Angeles, wherever you may be. Thanks to those of you who came to Bloomberg's Tech Summit.
Discussion:
@lucas_shaw
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Wall Street Journal:
A look at Harry and Meghan's Hollywood flop in streaming's era of slower growth; sources: Netflix is unlikely to renew their $100M deal, which runs through 2025 — They arrived three years ago with royal star power amid a streaming boom, but have notched more cancellations and rejections than produced shows
Discussion:
SheKnows, @danamattioli, Insider, TMZ.com, The Daily Beast, Fox News, Page Six, New York Post, @baronessbruck, @mirandadevine, @leebee4life, @joshkraushaar, ET Canada, Their Royal Highnesses and ABC
Diana Falzone / Rolling Stone:
Some Newsmax staffers raise privacy concerns after Smartmatic subpoenaed them for work and personal correspondence and Newsmax told them to hand over the data — Court filings rife with internal communications exposed Fox News' post-election misinformation push. Newsmax could be next
Discussion:
@joshtpm and @rollingstone
Katie Deighton / Wall Street Journal:
Inside the Cannes Lions ad festival, which saw companies gingerly describing their AI use and a bigger presence from TikTok, Netflix, and Saudi publisher SRMG — Fears of the technology didn't dampen the annual bash, but its potential to wreck and remake the global ad industry suffused the five-day event
Discussion:
@wsj and @dollydeighton
Irene Chan / Hong Kong Free Press:
An interview with Hong Kong journalist Bao Choy on why the court overturning her 2019 conviction is “not a long-lasting victory”, her new media outlet, and more — After leaving Hong Kong's top court on a warm June morning, Bao Choy was overwhelmed by a mixture of jubilation and sadness.
Discussion:
@theasianfmnst, @defrog, @fy4chan, @ifjglobal, @tomgrundy and @thecfhk
Nico Grant / New York Times:
Russian telcos and ISPs blocked or restricted access to Google News and other news sources during Kremlin's feud with a mercenary leader — At least five telecommunications companies have blocked the service, which aggregates news from various sources, according to an analysis from NetBlocks, an internet observatory.
Charlie Savage / New York Times:
How an intern at Indiana newspaper The Journal Gazette in 1995 helped popularize the mashup of The Wizard of Oz with Pink Floyd's The Dark Side of the Moon — Pink Floyd, — ‘The Wizard of Oz’ — and Me — The inside story of a Times reporter's strange role in a foundational moment …
Discussion:
@nataliapetrzela, @nytmag, @peterbakernyt and Insider
Lisa Laman / Collider:
WBD CEO David Zaslav gutting Turner Classic Movies staff, while he tries to adopt a movie mogul's persona, is one of his most wicked and devastating maneuvers — The staff behind Turner Classic Movies has been gutted, which will have enormous consequences for cinema as an art form.
Discussion:
New Republic, TVLine, The Wrap, @turnageb, The Wrap, @chaikomanduri, IndieWire, The Mary Sue, The A.V. Club and Bulwark+
RELATED:
Hollywood Reporter:
Sources: Warner Bros. Pictures CEOs Michael De Luca and Pamela Abdy will now oversee Turner Classic Movies; WBD plans to invest in, and not sell, the channel
Discussion:
IndieWire, Deadline, @carlquintanilla, @toobaddiane, @aaroncouch, @kimmasters, @cnschedules, @kimmasters, @davidkittredge, @derfelmacguffin, @thr, Cord Cutters News, Variety and The Wrap
Benjamin Mullin / New York Times:
IAC Chairman Barry Diller says The Daily Beast is no longer for sale; Diller had been in talks with Ankler Media, founded in 2022, but has withdrawn from them — Mr. Diller said he had considered combining The Daily Beast with Ankler Media, a start-up co-founded by Janice Min, a longtime magazine editor.
Discussion:
@helaineolen, @benmullin, @vanityfair, @mediaevan and @vanityfair
Lisa O'Carroll / The Guardian:
The EFJ and media experts condemn the latest European Media Freedom Act draft that would let national security agencies place spyware on journalists' phones — Move to allow spyware to be placed on reporters' phones would have a ‘chilling effect’, say media experts
Discussion:
@peterodwyer1, @annanemtsova, @rektor_linnea and @lindseysnell, more at Techmeme »
Dietrich Knauth / Reuters:
Bloomberg, Dow Jones, the NYT, and the FT appeal a ruling letting FTX keep client names secret, arguing FTX can't get a “sweeping exception” to disclosure norms — A group of media organizations on Friday appealed a court decision that allows collapsed crypto exchange FTX …
Discussion:
Talking Biz News
Adam B. Vary / Variety:
Ahead of a potential SAG-AFTRA strike, Marvel, Netflix, Sony Pictures, and other studios plan to skip panels at San Diego's Comic-Con, which starts on July 19 — For two years, the biggest annual fan convention in North America was forced to cancel the five-day gathering due to the COVID-19 pandemic …
Discussion:
Media Play News, San Diego Comic-Con …, The Wrap, @caseymdoza, @doctorwhopn, @mattnicholas, @variety, The Hollywood Reporter, The A.V. Club, Comic Book, Comic Book, The Wrap, Show Me y0ur Fangs, @comixace.bsky.social, The Mary Sue, Collider, Gizmodo, Screen Rant, TVLine, San Diego Comic-Con … and Polygon
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