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11:40 PM ET, February 25, 2024

Mediagazer

 Top News: 
Scott Nover / Slate:
Websites that shut down make it hard for journalists to preserve writing clips, but maintaining a defunct site creates technical issues including security risks  —  Vice workers scrambled this week to save their work, just in case.  Would keeping it online really cost so much?
RELATED:
Chris Thompson / Defector:
Vice leadership failed to act as responsible stewards of a good product, and instead paid themselves lavish salaries and burned through hundreds of millions  —  Vice was a good website.  On Thursday it was killed by its private equity owners, in a characteristically cruel and sudden maneuver …
Sam Buckingham-Jones / Australian Financial Review:
Australian businessman Kerry Stokes launches The Nightly, a daily online newspaper with backing from billionaires Katie Page, Chris Ellison, and Gina Rinehart  —  Billionaires Katie Page, Chris Ellison and Gina Rinehart are the key backers of Kerry Stokes' new daily online newspaper …
Bloomberg:
While Netflix is profitable in South Korea, local rivals Tving and Wavve lost a combined ~$165M in 2023 and are reportedly in talks to merge  —  After years of pumping out hit shows, South Korea's biggest media companies are cutting back and consolidating to survive a global pullback in entertainment.
Janko Roettgers / Lowpass:
A look at possible effects of Walmart's Vizio purchase: a negative impact on Roku, for whom Walmart is a big retail partner, and Vizio's data unit shutting down  —  Big box bucks  —  Together with … Tuesday's news that Walmart is acquiring Vizio for $2.3 billion has the potential …
Lauren Feiner / The Verge:
A preview of the NetChoice cases to be argued at SCOTUS on February 26, about the constitutionality of Texas and Florida laws regulating social media content  —  The ruling could impact other publishing industries and future social media regulation. … Social media companies have long …
Sara Fischer / Axios:
NPR affiliate WAMU is shutting down local news site Dcist and laying off 15 employees to focus on audio and plans to add 10 new positions  —  - “We're making the choice to invest in what we're better at than anyone else in this town, and that's audio,” Pulley-Hayes said.
Chris Welch / The Verge:
Three years after Spotify's original announcement that it would launch a higher-quality audio subscription, the company has yet to roll out the feature  —  I was really hoping I wouldn't have to do this again.  Last year, it seemed like there was no reason to believe Spotify would ever roll …
Brian Steinberg / Variety:
WBD reports Q4 revenue down 7% YoY to $10.3B, adjusted EBITDA down 5% YoY to $2.5B, 97.7M global streaming subscribers, and a $103M streaming profit for 2023  —  The owner of the TNT and TBS cable networks,. the Warner Bros. studio and the Max streaming service reported a loss of $400 million …
RELATED:
Steven McIntosh / BBC:
UK police will take no further action against suspended GB News host Dan Wootton, who was accused of using fake identities to bribe men for explicit material  —  Police have said they will take no further action against GB News presenter Dan Wootton.  —  The New Zealand-born broadcaster …
Amie Parnes / Vanity Fair:
A journalist tells how Jimmy Finkelstein wooed her to The Messenger, reassured staff two months before closure, and left her without a promised severance  —  I have yet to receive a promised severance following the media start-up's abrupt collapse, which left hundreds of us without jobs.
Rani Molla / Sherwood Media:
In response to a query for news stories about Putin's comments on Navalny's death, Microsoft's AI-assisted search Copilot invented Putin quotes  —  Microsoft really wants you to use its new Copilot AI-assisted search.  Not only was the service featured in an expensive Super Bowl spot …
 
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 More News: 
Check My Ads Institute:
Paste co-founder and EIC Josh Jackson, whose company bought Jezebel in November 2023, says that overly broad brand safety efforts are hurting journalism
Daniel Thomas / Financial Times:
Sources: Vogue China EIC Margaret Zhang plans to leave Condé Nast when her contract expires at the end of March 2024
Bloomberg:
Bill Ackman hires a law firm, which demands “immediate retractions and corrections” from Business Insider in a “final attempt to avoid litigation”
Nicholas Quah / Vulture:
A look at Matthew Belloni's What I'm Hearing newsletter, which covers the structures of Hollywood's business and has become a must-read among the power elite
 Earlier Picks: 
Katie Kilkenny / The Hollywood Reporter:
An interview with studio owner Tyler Perry, who says he's putting an $800M studio expansion in Atlanta on hold after seeing the capabilities of OpenAI's Sora
Sarah Scire / Nieman Lab:
Google says there are no plans to remove the News tab on search results pages, after testing temporarily removing the filter for “a small subset of users”
Jonathan Vanian / CNBC:
Reddit files to list its IPO on the NYSE, reporting revenue up 20% YoY to $804M in 2023, net loss down 43% YoY to $90.8M, 73M DAUs, and a $3.42 global ARPU
Max Tani / @maxwelltani:
[Thread] Engadget announces layoffs and a restructuring that separates news and features from reviews and buying advice; EIC Dana Wollman is leaving