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12:05 PM ET, July 11, 2023

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James Gregory / BBC:
In a letter to the BBC, a lawyer for the teen allegedly paid £35K by a BBC presenter for sexually explicit photos says the claims made in The Sun are “rubbish”  —  Claims made by the mother at the heart of the BBC presenter scandal are “rubbish”, a lawyer representing the young person has said.
Georg Szalai / Hollywood Reporter:
The BBC reports record BBC Studios revenue up 28% YoY to £2.09B in 2022-2023, EBITDA rose 6% YoY to £240M, and returns to the BBC reached a record £362M  —  Thanks to hit content, such as ‘Happy Valley,’ 'Bluey, and ‘Dancing With the Stars,’ the commercial arm …
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Meg James / Los Angeles Times:
Patrick Soon-Shiong and his family sell the San Diego Union-Tribune to an affiliate of MediaNews Group, the newspaper publisher owned by Alden Global Capital  —  Patrick Soon-Shiong and his family have sold the San Diego Union-Tribune to competing publisher MediaNews Group …
Charlotte Tobitt / Press Gazette:
The Financial Times leans into its B2B business with FT Professional rebranding, citing that 75% of the FT's paying readers come from B2B subscriptions  —  B2B subscriptions account for 75% of the FT's paying readers.  —  The Financial Times is targeting growth in its B2B division …
New York Times:
A look at a planned Fox News defamation case by Ray Epps, a Trump voter who attended January 6 and Tucker Carlson named in a conspiracy theory in ~20 episodes  —  Tucker Carlson, before he was sidelined by Fox, repeatedly endorsed a conspiracy theory about an Arizona man, who may sue for defamation.
New York Times:
The NYT announces plans to disband its sports desk and rely on coverage from The Athletic online and in print; NYT sports journalists will move to other roles  —  Coverage of games, players and leagues will now primarily come from The Athletic, the sports website that the company bought last year.
Hanaa' Tameez / Nieman Lab:
The LAT debuts De Los, a free, standalone vertical for English-dominant Latinos on its website, Instagram, and TikTok; the paper has 547K+ digital subscribers  —  “There is no future for the L.A. Times without Latino subscribers, because that's who lives here.”
Michael Geist:
Canada outlines planned regulations for Bill C-18 that cap liability and set minimum financial contributions by Meta and Google based on their Canadian revenue  —  Canadian Heritage Minister Pablo Rodriguez has insisted for months that Bill C-18, the Online News Act, is a market-based approach …
Rachel Ohm / Press Herald:
US nonprofit The National Trust for Local News plans to acquire all Masthead Maine's assets, including five of Maine's six daily newspapers and 17 weeklies  —  The National Trust for Local News has agreed to purchase 5 of the state's 6 daily papers and 17 of its weeklies in an effort to preserve local journalism.
Ashley Capoot / CNBC:
Shutterstock announces an expanded, six-year partnership with OpenAI that grants access to its video, image, and music libraries for AI training; SSTK jumps 9%+  —  - Shares of Shutterstock popped Tuesday after the company announced an expanded, six-year partnership with ChatGPT-maker OpenAI.
Axios:
Source: Instagram plans to add branded content tools to Threads, offering marketers paid promotion; Threads won't introduce ads before reaching a critical mass  —  Instagram is planning to bring its branded content tools to Threads, a source told Axios, giving marketers a way to get involved …
 
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 More News: 
Adam Buckman / MediaPost:
CNN's new primetime show, “The Source”, anchored by Kaitlan Collins, launched on July 10 at 9pm ET
Discussion: @brianstelter
Reuters:
Meta told an Australian inquiry on foreign interference that it plans to build “state-affiliated media” and “fact-checking” labels on Threads “expeditiously”
 Earlier Picks: 
James Warrington / Telegraph:
Barb: Channel 4's audience share dropped to a record low of 4.48% in May 2023, reaching 35.8M viewers, down from 39M+ YoY, as the company moves to streaming
John Ourand / Sports Business Journal:
To fight back against cord-cutting, Charter plans to offer a lower-cost programming tier without RSNs and league-owned networks in Q3, likely for $10/month less