Top News:
Lucas Shaw / Bloomberg:
Profits at the largest US entertainment companies have fallen 60%+ since 2013, despite mergers, as media companies spent record sums to build streaming services — Good afternoon from Los Angeles, wherever you may be. Thanks to those of you who came to Bloomberg's Tech Summit.
Discussion:
@lucas_shaw and @tvgrimreaper
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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:
TMZ.com, SheKnows, Fox News, @danamattioli, The Daily Beast, Insider, Page Six, New York Post, @baronessbruck, @mirandadevine, @leebee4life, ET Canada, @joshkraushaar, Their Royal Highnesses and ABC
A.J. Katz / Adweek:
Legendary TV news producer David Bohrman, who worked at CNN, NBC, CBS, among others, and was best known for his 12 years of pioneering work at CNN, dies at 69 — Legendary TV news producer and executive David Bohrman passed away Sunday, his former employer CNN announced. He was 69 years old.
Diana Falzone / Rolling Stone:
Some Newsmax staff raised privacy concerns after Newsmax allegedly told them to hand over work and personal correspondence that Smartmatic subpoenaed them over — Court filings rife with internal communications exposed Fox News' post-election misinformation push. Newsmax could be next
Discussion:
@rollingstone and @joshtpm
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, The Wrap, @turnageb, @chaikomanduri, IndieWire, The Mary Sue, The A.V. Club and Bulwark+
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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, @toobaddiane, @carlquintanilla, @aaroncouch, @kimmasters, @cnschedules, @kimmasters, @davidkittredge, Cord Cutters News, @derfelmacguffin, @thr, Variety and The Wrap
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.
Discussion:
@oliverdarcy, Bloomberg, Vanity Fair, @jkosseff, @sherman4949, @rmac18, Washington Post, @netblocks, @alfaiomi, @andreasharsono, @nytimes, @thechandlerdude, @mediaactive, @nicoagrant, Engadget, Insider and Reclaim The Net
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:
@dollydeighton and @wsj
Bron Maher / Press Gazette:
At Dublin's NewsXchange conference, experts discussed generative AI's impacts on journalism, including copyright infringement, misinformation risks, and more — Although there were notes of caution, most speakers were optimistic about AI and journalism. — It took approximately ten minutes …
Discussion:
@pressgazette, @pressgazette and @pressgazette
Duke Reporters' Lab:
An annual fact-checking census finds there are 417 fact-checking sites active globally in 2023 so far, roughly the same as in 2022 and 2021, up from 151 in 2015 — 10th annual fact-checking census from the Reporters' Lab tracks an ongoing slowdown — While much of the world's news media …
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, @ifjglobal, @thecfhk, @fy4chan, @tomgrundy and @defrog
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, @peterbakernyt, @nytmag and Insider
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, @mediaevan, @vanityfair and @vanityfair
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