Top News:
Cynthia Littleton / Variety:
Disney reports Q3 revenue up 4% YoY to $22.3B, a $460M net loss, down from a $1.41B net income YoY, and India's Disney+ Hotstar service losing 12.5M subscribers — Disney+ loses 300K customers in U.S. and Canada while streaming-only Hulu gains 300K — The Walt Disney Co. saw …
Discussion:
IndieWire, CNBC, Media Play News and The Walt Disney Company
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Todd Spangler / Variety:
Disney plans to raise US prices of Disney+ Premium, Hulu without ads, and ESPN+, and to expand Disney+ ad-supported plans to Canada and nine European countries — Ad-supported Disney+ tier to expand to Canada, U.K. and eight other European countries this fall
Matt Levine / Bloomberg:
The Penn-Barstool deal made sense for Penn and Dave Portnoy when he sold Barstool in 2020, and the Penn-Disney deal makes sense now as Portnoy regains Barstool — Also WeWork's decline, Yellow's equity value, Target as a securities-fraud target and a Reata M&A typo. — Barstool
Discussion:
Vox, Variety, Awful Announcing, The Athletic, Barrett Media and Axios
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Katherine Sayre / Wall Street Journal:
ESPN's deal letting Penn Entertainment use its brand for ESPN Bet is worth $2B over 10 years: $1.5B in cash plus warrants worth ~$500M to purchase Penn shares
ESPN's deal letting Penn Entertainment use its brand for ESPN Bet is worth $2B over 10 years: $1.5B in cash plus warrants worth ~$500M to purchase Penn shares
Discussion:
Breitbart, Business Wire, Axios, WPRI.com, The Desk, Barrett Media, Front Office Sports, Insider, Poynter, Newser, New York Times, @jeffjarvis, Financial Times, MediaPost, Advanced Television, Sportico, CBS News, The Wrap, Fortune, The Verge, Los Angeles Times, CNN, Sports Media Watch, The Information, The Streamable, The Hill, CNBC, Next TV, New York Post, Variety, Deadline, MarketWatch, The Hollywood Reporter, Awful Announcing, Bloomberg, New York Daily News, Forbes, For The Win, Cord Cutters News and ESPN Press Room U.S.
Mathew Ingram / Columbia Journalism Review:
Q&A with Mark Rasch, a lawyer for Tim Burke, whose PCs and equipment were seized in a probe of Fox News video leaks, on the case's implications for journalists — In May, agents from the Federal Bureau of Investigation showed up at Tim Burke's home in Tampa, Florida, and seized several computers …
Discussion:
Mediaite
Blake Brittain / Reuters:
Gizmodo EIC Dan Ackerman sues Apple, the Tetris Company, and others, accusing them of adapting his book about Tetris into a feature film without his permission — Dan Ackerman, editor in chief of the tech-news website Gizmodo, filed a lawsuit in Manhattan federal court on Monday accusing Apple …
Discussion:
Plagiarism Today, New York Post, PC Gamer, IndieWire, Metro, @xpangler, @reedalbergotti, @11thjeff, The Verge, Engadget, Talking Biz News, The Wrap, Variety, 9to5Mac and AppleInsider, more at Techmeme »
Steven Waldman / The Atlantic:
Funding US local news, which could mean ~$1.5B per year to sustain 25K local reporter positions, would more than pay for itself and “save American democracy” — The decline of local journalism isn't just a threat to democracy. It's also costing us money. — Zak podmore did not bring down a corrupt mayor.
Discussion:
Media Nation, @jrussellmi, @stevenwaldman, American Press Institute, @mckaycoppins, @dlberes and @bykenarmstrong
Yuvraj Malik / Reuters:
The world's largest news media organizations sign an open letter calling for a framework to “collectively negotiate” use of their IP with AI model operators — A group of the world's biggest news media organizations called for revised regulations on the use of copyrighted material …
Joe Otterson / Variety:
Wonya Lucas, who became Hallmark Media's president and CEO in July 2020, plans to depart the company at the end of 2023 but will continue on the company's board — Hallmark Media president and CEO Wonya Lucas will depart the company at the end of the year.
Discussion:
TheBlaze, The Desk, Cord Cutters News, The Wrap, Advanced Television, WORLD SCREEN, Next TV, The Hollywood Reporter, Adweek and Deadline
Alex Isenstadt / Politico:
The RNC picks Fox Business to host the second GOP presidential primary debate on September 27, after Fox News hosts the first debate on August 23 in Milwaukee — It's now two-for-two for the Murdoch empire when it comes to presidential candidate forums. — The Republican National Committee …
Discussion:
UPI, @brianstelter, @politicoalex, @joelmathis.bsky.social, Deadline, The Hill, @wlabovitz, @jeremymbarr, The Wrap, New York Daily News and Semafor
Scott Roxborough / The Hollywood Reporter:
RTL Deutschland launches a €12.99/month “all-in-one” streaming service bundle, offering video, live sports, music, podcasts, audiobooks, and digital magazines — The new “all-inclusive” platform is promising German subscribers a one-stop-shop for video, live-sports, music …
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The Desk
Pamela McClintock / Hollywood Reporter:
Netflix reopens NYC's iconic Paris Theater after major upgrades with plans to screen its original movies and host special events, retrospectives, and filmmakers — The iconic cinema will be able to screen 70mm film for the first time in years and also has a new Dolby Atmos system.
Discussion:
The Wrap
Lara O'Reilly / Insider:
Canadian private equity firm Novacap acquires US TV adtech company Cadent from Lee Equity Partners, a source says for close to $600M — - PE firm Novacap has acquired TV adtech company Cadent. — The deal is valued at around $600 million, according to a source.
Discussion:
Next TV, Axios, AdExchanger and Advanced Television