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 social media backlash, Warner Bros. 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 hybrid Looney Tunes film …
Discussion:
The Wrap, Forbes, The Hollywood Reporter, Rolling Stone, UPROXX, SlashFilm, Gizmodo, Yahoo Life, @johndilillo, @animated_antic, Screen Rant, @snarkysteff.bsky.social, @carnage4life@mas.to, The Playlist, @phil_lewis_, Collider, Consequence, ComingSoon.net, Fly! Pow! Bye!, The Verge and Vanity Fair
John D. McKinnon / Wall Street Journal:
Google sues unnamed individuals in India and Vietnam for tricking US-based SMB owners with Facebook accounts into clicking fake Bard ads that install malware — Lawsuit attributes the alleged scheme to hackers in India and Vietnam — Scammers are capitalizing on the rush of consumer interest …
Discussion:
The Keyword, Ad Age, Gizmodo, TIME, The Verge, The Messenger and MediaPost, more at Techmeme »
Tim Ingham / Music Business Worldwide:
Warner Music and Universal joined Deezer's “artist-centric” royalties model in France, which includes a “double boost” to artists who get 1,000+ streams a month — News follow's Deezer's announcement of the new model with Universal Music Group in September...
Discussion:
Variety, Billboard and Digital Music News
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:
@pranavdixit, @bigtechontrial, @schizanon@mas.to, 9to5Mac and @leah_nylen, more at Techmeme »
Tara Conlan / The Guardian:
The BBC faces a backlash, concerns from Ofcom, 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
Max Tani / Semafor:
Courier Newsroom, a network of liberal news sites, expands ahead of the 2024 election with a new slate of video series, newsletters, podcasts, and more — The Scoop — An emerging partisan news organization on the left is seriously gearing up to impact the 2024 election.
Discussion:
@lucy_ritz, @markjacob16, @couriernewsroom, @couriernewsroom, @bradyqg, Melissa Ryan on LinkedIn and @kylewilsontharp
Brooks Barnes / New York Times:
Marvel's The Marvels, which cost ~$300M to make and market, netted just $47M in US and Canada ticket sales over the weekend, 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.
Discussion:
Variety, @mattbelloni, @nickmenakos, The Hollywood Reporter, CNN, CNBC, BBC, EW.com, @stephenking, The A.V. Club, The Wrap, Variety, Collider, @johndilillo, @marvel, Deadline, The Playlist, Bloomberg, MediaPost, Rolling Stone and The Messenger
Daniel Thomas / Financial Times:
Ofcom Chair Michael Grade describes the BBC's license fee as a “regressive tax”, and calls for the BBC to strengthen its governance and complaints mechanisms — Michael Grade wants more transparency in how the UK's state broadcaster handles complaints
Discussion:
@danielthomasldn, The Guardian and City A.M.
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
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:
Fox News and The Kyiv Independent
Liz Gorny / It's Nice That:
The Guardian launches The Long Read Magazine, a print magazine available via The Guardian bookshop and some newsstands for £12.99 — The Long Read Magazine manages to live in two worlds: the bookshelf and newsstand.
Discussion:
@sophieelmhirst, @gdnlongread, @pressgazette and @davidedgarwolf
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