Top News:
Mark Stenberg / Adweek:
Sources detail how a $300M investment from Blackstone, structured as a line of credit, became an albatross for Recurrent Ventures due to rising interest rates — The Blackstone investment was supposed to be a war chest. It became an albatross. — In May 2022, media company Recurrent Ventures announced …
Discussion:
Media Voices, @rafat, @markstenberg3 and Jared Lake on LinkedIn
Kurt Wagner / Bloomberg:
X plans to build a new “Trust and Safety center of excellence” in Austin, Texas, and hire 100 full-time moderators to fight child sexual exploitation material — - Employees will be full-time, primarily focused on CSE content — X CEO Yaccarino to testify before Senate committee next week
Discussion:
The Verge, The Information, Reuters, @kurtwagner8, @seesyous, @alexanotherone.bsky.social, The Messenger and Engadget, more at Techmeme »
Patrick Frater / Variety:
CNN Philippines plans to close on January 31, impacting up to 300 jobs; the outlet launched in 2015 under a brand licensing deal and, a source says, lost $89M+ — CNN Philippines is to close down on Wednesday, the company announced on Monday local time. The move means up to 300 jobs will be lost.
Discussion:
@cnnphilippines and Deadline
The Intercept:
Sources: NYT pulled an episode of The Daily about sexual violence perpetrated by Hamas on October 7, amid an internal debate on the strength of its reporting — As the Times faces scrutiny for its coverage of Israel's war on Gaza, it has capitulated to the pro-Israel media watchdog CAMERA.
Pete Croatto / Poynter:
A look at the 2003 film Shattered Glass on serial fabulist Stephen Glass, the people involved in his rise and fall, and its enduring appeal in journalism school — 25 years ago, Stephen Glass was exposed as a fabulist. In 2003, a classic film chronicled his deceit. Not everyone involved walked away unscathed.
Discussion:
Nick Hirshon on LinkedIn, @sonnybunch, @jonathanchait, @petecroatto, @williams_paige, @billyray5229, @petecroatto, @benmullin, @om and On my Om
Cecilia Kang / New York Times:
A look at the US Copyright Office, which is in the spotlight as it plans to release three key reports in 2024 revealing its position on copyright law and AI — The office is reviewing how centuries-old laws should apply to artificial intelligence technology, with both content creators and tech giants arguing their cases.
Discussion:
@knibbs, @jeffplatsky, @dm_cooper, @toddbigphoto, @tvol, @stevelohr, Publishers Weekly and CMU
Jennifer Maas / Variety:
A look at Warner Bros. Discovery's push to expand its gaming division with live services and mobile games, by leveraging its franchises like Game of Thrones — David Zaslav's most critical mission is leading Warner Bros. Discovery through the streaming wars.
Discussion:
@benjisales, @captaingalxy, @variety, Screen Rant, @jmaasaronson and @aegies, more at Techmeme »
Reuters:
Report: Zee Media founder Subhash Chandra says his family plans to eventually raise its stake in Zee from 4% to 26% after a merger with Sony India collapsed — Zee Entertainment (ZEE.NS) founder Subhash Chandra's family will eventually lift their stake in the media house to 26% from 4% currently …
Discussion:
Livemint
The Hollywood Reporter:
Sources: former MGM executive Jonathan Glickman is in talks to join Miramax as its CEO, following Bill Block's departure last year — The former MGM executive, known for his work on ‘No Time to Die’ and ‘Creed,’ would step into a role vacated by Bill Block. — Miramax may have found its new leader.
Jay Rosen / @jayrosen_nyu:
[Thread] A look at the factors behind the news industry downturn: advertisers have other avenues to target users, lack of a direct connection with readers, more — Last week CNN asked me how I explain the downturn in the news industry: big layoffs, scant investment, no recovery in sight. A list of factors is not an explanation, I said. But that is what I have. So here's my thread. None of it should be news to people in the business. 0/
Discussion:
@tzmorsy, @matthewherper, @sulliview, @jayrosen_nyu, @jayrosen_nyu, @tonywinton@threads.net, @jason_kint, @moetkacik, @jayrosen_nyu, @laurarbelin, @karenkho, @pkafka@threads.net, @jayrosen_nyu, @mathewi@threads.net, @danackerman, @jayrosen_nyu, @davidfolkenflik, @jayrosen_nyu, @digiphile@threads.net, @localmediarocks, @cforman and @originalspin@threads.net
Ben Smith / Semafor:
Q&A with Washington Post CEO Will Lewis about his plans for the newspaper, including making its footprint bigger, lack of a Trump Bump, media layoffs, more — On Sir Will Lewis' 17th day as CEO of the Washington Post, Washington media celebrated him in its particularly small-town way …
Sam Roberts / New York Times:
Jon Franklin, a pioneer of literary journalism who won two Pulitzer Prizes for stories published in The Baltimore Evening Sun, died on January 21 at age 82 — He won two Pulitzer Prizes by transforming accounts of doctors at work into in-depth, narrative articles that read like dramatic short stories.
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