Top News:
Axios:
The Block sells an 80% stake to Singaporean VC Foresight Ventures, valuing the crypto outlet at $70M and freeing the business from its financial ties to FTX — Crypto media company The Block sold a majority stake to Singaporean venture capital firm Foresight Ventures in a deal valuing the crypto outlet at $70 million.
Matthew Belloni / Puck:
Source: after a backlash on social media, Warner Bros. Discovery plans to let the filmmakers of Coyote vs. Acme shop the movie to other potential distributors — In a surprising about-face, Warner Bros. executives will allow the filmmakers of Coyote vs. Acme, a $70 million live action/CGI …
Discussion:
The Wrap, The Messenger, @thr, Rolling Stone, Yahoo Life, @johndilillo, SlashFilm, @animated_antic, Screen Rant, @charlescmann, @snarkysteff.bsky.social, Forbes, The Hollywood Reporter, @carnage4life@mas.to, Gizmodo, The Playlist, @phil_lewis_, UPROXX, Collider, ComingSoon.net, Consequence, Cord Cutters News and Fly! Pow! Bye!
Axios:
Recurrent Ventures tells employees of a new round of layoffs; sources: at least 13 people at Popular Science, four at Domino, and one at The Drive were laid off — Recurrent Ventures, a venture equity-backed digital media rollup company, informed employees of a new round of layoffs on Monday.
Discussion:
@kerrymflynn
Tara Conlan / The Guardian:
The BBC faces a listener backlash, Ofcom concerns, and potential legal action over controversial local radio cuts, including sharing programs across 39 stations — Exclusive: fallout includes anger from listeners, potential legal action and concerns from Ofcom
Discussion:
@matlockhare, @mslaura_brown, @davidlloydradio and @nickfromupnorth
Tim Ingham / Music Business Worldwide:
Warner Music and Universal join Deezer's “artist-centric” royalties model in France, which includes a “double boost” to artists who get 1,000+ streams per month — News follow's Deezer's announcement of the new model with Universal Music Group in September...
Discussion:
Variety, Billboard and Digital Music News
Max Tani / Semafor:
Courier Newsroom, a network of liberal news sites, expands ahead of the 2024 US election with new contributors, newsletters, video series, op-eds, and podcasts — The Scoop — An emerging partisan news organization on the left is seriously gearing up to impact the 2024 election.
Discussion:
@lucy_ritz, @markjacob16, @couriernewsroom, @melissaryan, @couriernewsroom, @bradyqg, Melissa Ryan on LinkedIn and @kylewilsontharp
Larisha Paul / Rolling Stone:
USA Today appoints its first Beyoncé reporter, working out of the Gannett-owned Tennessean's Nashville newsroom, after hiring a Taylor Swift reporter — Meet journalist Caché McClay, who will work out of the Tennessean's Nashville newsroom as she delves into the inner workings …
Discussion:
MediaPost, @ichoseviolences, @myfamny, @bylarisha, @Tergenev@mastodon.social, Deanna Fry on LinkedIn, The Hill, The Messenger and USA Today
Brooks Barnes / New York Times:
Marvel's The Marvels, which cost ~$300M to make and market, netted just $47M in weekend ticket sales in the US and Canada, the lowest ever for a Marvel movie — “The Marvels” cost about $300 million to make and market and arrived to $47 million in domestic sales. — The once-superheroic Marvel Studios is now merely mortal.
Discussion:
Variety, @nickmenakos, The Hollywood Reporter, CNN, CNBC, BBC, EW.com, @stephenking, @mattbelloni, Collider, Associated Press, The A.V. Club, The Wrap, Variety, Collider, @johndilillo, @marvel, Deadline, MediaPost, The Playlist, Bloomberg, Rolling Stone and The Messenger
Choe Sang-Hun / New York Times:
A look at efforts by South Korean President Yoon Suk Yeol to silence journalists in the name of fighting disinformation, including lawsuits and criminal probes — He calls fake news an enemy that threatens democracy. Critics of President Yoon Suk Yeol say he is silencing journalists in the name of fighting disinformation.
Discussion:
The Kyiv Independent and Fox News
Bron Maher / Press Gazette:
Reach Chief Digital Publisher David Higgerson says that “there is no plan to replace journalists with social media influencers”, after the company cut ~450 jobs — Comments given by CEO Jim Mullen to The Telegraph prompted confusion and anger among staff.
Discussion:
@davidhiggerson, @mattgoodingtm, @davidhiggerson, @davidhiggerson, @jnkappers, @paulbreeden2 and @davidhiggerson
Leah Nylen / Bloomberg:
Google pays Apple 36% of the revenue the internet giant earns from search ads through Safari, per the US v. Google testimony of Alphabet's main economics expert — - Revenue sharing amount was supposed to remain confidential — Google witness disclosed number during antitrust trial in DC
Discussion:
New York Post, Reuters, MediaPost, Gizmodo, The Information, Beyond Search, @bigtechontrial, @jason_kint, @pranavdixit, @leah_nylen, @schizanon@mas.to, 9to5Mac and The Verge, more at Techmeme »
Liz Gorny / It's Nice That:
The Guardian launches The Long Read Magazine, a print magazine dedicated to long-form journalism, available at newsstands and The Guardian bookshop for £12.99 — The Long Read Magazine manages to live in two worlds: the bookshelf and newsstand.
Discussion:
@sophieelmhirst, @davidedgarwolf, @gdnlongread, @pressgazette and @davidedgarwolf
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