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11:05 AM ET, February 29, 2024

Mediagazer

 Top News: 
Dade Hayes / Deadline:
Paramount CFO Naveen Chopra says the company expects to take about a $1B charge in Q1 due to ongoing programming shifts and previously announced layoffs  —  Paramount Global expects to take a $1 billion charge in the current quarter due to ongoing programming shifts and the layoffs it announced earlier this month.
RELATED:
Laya Neelakandan / CNBC:
Paramount reports Q4 revenue of $7.64B vs. $7.85B est., and profit of $514M, up from $21M the year prior; Paramount+ reached 67.5M global subscribers, up 4.1M
Anto Antony / Bloomberg:
Sources: Sony made multiple filings in India to pull out a pact to merge its India operations with Zee Entertainment  —  - Japanese firm has informed an Indian company court: sources  — Puts an end to the 2021 pact while rivals bulk up in India … The Japanese entertainment firm …
Discussion: Reuters
Morgan Sung / Rest of World:
As Twitch shuts down in South Korea citing high costs due to new “sender pays” network rules, livestreamers struggle to use Korean rivals like AfreecaTV  —  The streaming giant attributed its departure to high network fees.  — On February 27, Twitch officially shut down business in South Korea.
Discussion: @alex, more at Techmeme »
Aisha Malik / TechCrunch:
Substack debuts direct messaging, letting users have private one-on-one conversations; by default, users will only receive DMs from people they're connected to  —  Substack is introducing direct messaging, allowing users to have private one-on-one conversations, the company announced today.
David Streitfeld / New York Times:
How newspaper leaders tried and failed to see how tech would change the business of journalism, framed by the career of digital newspaper pioneer Roger Fidler  —  Roger Fidler tried his best, but the excellent business of journalism is gone for good.  Can the idea of “news” survive in a digital world?
Kim Bellware / Washington Post:
Staffers at the Marshall Project plan to form a union; the guild will be part of the NewsGuild of New York and represent about 50 staffers  —  Staffers at the criminal justice journalism nonprofit the Marshall Project announced Thursday that they are unionizing, a move that puts …
Joshua Benton / Nieman Lab:
An analysis of educational backgrounds of 460 NYT newsroom staff members shows the Ivy League is over-represented; about 75% of staffers are not Ivy Leaguers  —  They're not a majority, based on a new look at education data, but they are wildly overrepresented.
Yiwen Lu / New York Times:
Raw Story, AlterNet, and, in a separate case, The Intercept sue OpenAI in a NY federal court for copyright infringement; The Intercept is also suing Microsoft  —  Raw Story, AlterNet and The Intercept sued for copyright infringement over the way the ChatGPT creator trains its technology.
Charlie Nash / Mediaite:
Vice shuts down a virtual town hall after laid off employees invited to the virtual meeting inundated leadership with thumbs down emojis  —  A virtual Vice Media town hall had to be prematurely shut down on Wednesday after staffers flooded the meeting with thumbs-down emojis to protest the company's mass layoffs.
 
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 More News: 
Manish Singh / TechCrunch:
Analysts: Reliance-Disney India media merger will create an entity that captures 85% of India's on-demand streaming service audience and ~50% of the TV viewers
Alexandra Bruell / Wall Street Journal:
Sources: Essence Magazine's parent company is in talks to buy Refinery29 from Vice Media, which acquired the women's lifestyle site in 2019 for $400M
Los Angeles Times:
Netflix names Dan Lin, the producer of the Lego movies and the live-action adaptation of Avatar: The Last Airbender, as head of film, replacing Scott Stuber
 Earlier Picks: 
Lachlan Cartwright / The Hollywood Reporter:
Source: Disney held talks in 2015 and 2016 about buying Vice for $3.4B; Shane Smith is believed to be paid millions in a 2019 deal finishing at the end of 2024
Dara Kerr / NPR:
Time owner Marc Benioff tells a reporter, who is looking into his Hawaii land acquisition, that he knows where she is staying and her family's personal details
 

 
From Techmeme:

Gavin Anderegg / anderegg.ca:
Bluesky is working to become fully decentralized but it could take years amid financial concerns as it makes money only by selling domains for usernames

Wall Street Journal:
Sources: ByteDance is valuing itself at about $300B as part of a recent buyback offer, one of its highest valuations ever

Wall Street Journal:
Sources: T-Mobile's network was among the systems hacked by the China-linked Salt Typhoon group, and some foreign telecommunications firms were also compromised
 
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