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12:35 AM ET, September 30, 2023

Mediagazer

 Top News: 
Benjamin Mullin / New York Times:
Letterboxd's founders sell a majority stake to Canadian company Tiny; a source says the deal values the film-focused social network with ~10M users at $50M+  —  Two designers from New Zealand built a wildly popular social network for movie buffs.  Now, they're cashing in (and sticking around for the sequel).
Josh Kosman / New York Post:
Source: Diamond Sports is seeking to cut the broadcast fees it pays to the NHL and NBA by up to 20%; Diamond pays NBA teams about $600M a year  —  Bankrupt broadcaster Diamond Sports, the nation's largest regional sports network, has made a take-it-or-leave-it offer to cut rights fees …
Taylor Lorenz / Washington Post:
A history of Vine's failure to build relationships with its top creators, who Vine leadership resented for gaming the app's ranking algorithm and their humor  —  The wildly popular video app's contentious relationship with its own power users offers a cautionary tale for social platforms
Manish Singh / TechCrunch:
One of India's largest music labels Saregama acquires a 51.82% stake in Pocket Aces, which produces short-form video content aimed at young Indians, for ~$20M  —  Saregama has acquired a 51.82% stake in the digital entertainment startup Pocket Aces as the oldest Indian music label makes a deeper push into videos.
Andre Rhoden-Paul / BBC:
Ofcom launches an investigation into the Dan Wootton Tonight show on GB News after Laurence Fox insulted journalist Ava Evans, sparking 7,300 complaints  —  Media regulator Ofcom has launched an investigation into the Dan Wootton Tonight show on GB News after a sexism row sparked 7,300 complaints.
RELATED:
Amanda Zamora / The 19th:
Amanda Zamora says she will step down as publisher of The 19th at the end of 2023 and continue working on The 19th News Network in an advisory director capacity  —  After more than four and a half years with The 19th, Amanda Zamora will step down as publisher at the end of this year.
Ashley Carman / Bloomberg:
Podcast company Pushkin Industries lays off 17 of its 54 employees, or 30%+ of its staff in its second round of cuts in 2023, and changes its leadership team  —  ‘The Tipping Point’ author will step into editorial director role as part of executive shakeup  —  Bestselling author Malcolm …
Amanda Silberling / TechCrunch:
X CEO Linda Yaccarino says that the company has paid out nearly $20M to creators; Elon Musk said in July 2023 that the first payments totaled $5M  —  The company formerly known as Twitter has paid out nearly $20 million to creators, according to a post from X CEO Linda Yaccarino.
Bob Sillick / Editor and Publisher:
A look at Agenda Watch, built by Stanford's Big Local News and which scrapes public agencies' documents to help city hall, police, and school beat reporters  —  A journalist's job can be exciting: uncovering a critical lead for a new story or elbowing aside a gaggle of other media pros to question a government official.
Washington Post:
The Supreme Court agrees to hear two cases concerning whether Florida and Texas can restrict social media companies from removing political posts or accounts  —  The justices announced Friday which cases they will add to their calendar for the term that begins Monday
 
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 More News: 
Nieman Lab:
Two experts warn generative AI could hurt press freedom by deepening media's dependence on tech companies and urge journalists to develop the power to shape AI
Brian Steinberg / Variety:
AMC Networks launches an ad-supported AMC+ tier for $4.99/month, featuring fewer than five minutes of ads per hour and the same programming as the ad-free tier
 Earlier Picks: 
Sarah Scire / Nieman Lab:
Q&A with Society of Professional Journalists' treasurer, Israel Balderas, as membership numbers and revenue dwindle; its foundation still has ~$14M in the bank
Drew Richardson / CNBC:
After Media Matters found NFL ads placed on white nationalist X accounts, the NFL “immediately expressed our concerns to X to understand and rectify the issue”
Emma Roth / The Verge:
Google lets publishers use a robots.txt flag to opt out of the company using their data to train its AI models, while remaining accessible through Google Search