Top News:
Wall Street Journal:
Memo: Mark Thompson says CNN is cutting about 100 jobs, plans to launch its first CNN.com subscription product later in 2024, but offers few details, and more — CEO Mark Thompson said it was “a logical possibility” that CNN might pursue a subscription bundle similar to what the New York Times offers.
Discussion:
CNN, Nieman Lab, The Verge, Variety, Deadline, The Media Mix, Breitbart, @alexweprin, Brian Steinberg on LinkedIn, @pressgazette, Talking Biz News, @brianstelter, @mattdpearce, Mediaite, @bristei, @rasmus_kleis, @heysamantha, @sfiegerman, @kevincollier, The Wrap, @iyengarish, @bristei, Jeremy Moore on LinkedIn, New York Times, Los Angeles Times, The Media Leader, The Information, New York Post, Reuters, The Hollywood Reporter, Cord Cutters News and MediaPost
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Brian Steinberg / Variety:
Brian Lowry, the veteran Hollywood reporter, critic, and a contributor to CNN's Reliable Sources newsletter, is set to leave in the new round of CNN job cuts — The news outlet is cutting approximately 100 jobs as it works to boost its digital business.
Discussion:
@blowryontv, @tvmojoe, The Wrap, Talking Biz News and CNN
Andrew Marchand / New York Times:
Sources: the NBA finalizes contracts with new partners NBC and Amazon Prime Video, while maintaining ABC/ESPN for the NBA Finals; TNT could still match — The NBA and network executives finalized contracts that will make NBC and Amazon Prime Video new partners, while maintaining ABC/ESPN …
CNN:
A US jury finds Archegos Capital Management's Bill Hwang guilty of fraud for artificially inflating stocks of companies including ViacomCBS and Discovery — Bill Hwang, founder of Archegos Capital Management, was found guilty of fraud Wednesday by a Manhattan federal court after the 2021 collapse …
Discussion:
Bloomberg, Deadline, New York Times, Financial Times, The Hollywood Reporter, Variety and Associated Press
Associated Press:
Russia's government declares The Moscow Times an “undesirable organization”, meaning any Russian who cooperates with the outlet could get five years in prison — The Russian prosecutor general's office on Wednesday declared The Moscow Times, an online newspaper popular among …
Discussion:
Agence France-Presse, The Moscow Times, @bbcstever, @paige_reynolds_, @kevinrothrock, @samberkhead, @bbcstever, @macktubs, @niktwick, @hejsascha, @moscowtimes, @evahartog, Voice of America, @tomashirstecon, @tomashirstecon, @andrew__roth, Radio Free Europe/Radio …, Reuters and The Daily Beast
TMZ.com:
George Stephanopoulos replies to a pedestrian on Biden, saying “I don't think he can serve four more years”; ABC says “George expressed his own point of view” — GEORGE STEPHANOPOULOS BIDEN CAN'T SERVE 4 MORE YEARS … 6:28 PM PT — George Stephanopoulos tells TMZ …
Discussion:
@dylanbyers, New York Times, New York Post, Raw Story, Slate, @abbydphillip, @redsteeze, @collinrugg, @tmz, @todarorichard, @waylon_wc, @themainnetwork, The Daily Beast, Los Angeles Times, The Hill, NBC News, New Jersey Online, CBS News, The Guardian, Fox News, Newser, CNN, New Republic, HuffPost, Washington Post, The Wrap, Variety, Deadline, Mediaite and The Hollywood Reporter
Janko Roettgers / Lowpass:
A US court grants Redbox owner Chicken Soup for the Soul Entertainment Chapter 7 bankruptcy, paving the way for shutting down Redbox and liquidating its assets — Redbox will shut down, corporate parent is being liquidated — The bankruptcy case of Redbox's corporate parent Chicken Soup …
Katie Kilkenny / The Hollywood Reporter:
The Writers Guild of America West negotiates a $3.05M settlement with CBS to compensate 24 writers on MacGyver, Seal Team, and Hawaii 5-0 for unpaid work — The union told members on Wednesday of the resolution to an arbitration claim made on behalf of ‘MacGyver,’ ‘Seal Team’ and ‘Hawaii 5-0’ scribes.
Kate Park / TechCrunch:
South Korea-based Beeble AI, which is developing virtual production services for indie filmmakers, raised $4.75M in seed funding at a valuation of $25M — Visual effects (VFX) have emerged as essential in filmmaking and have transformed storytelling and creativity in the film industry with its diverse digital techniques.
Lauren Feiner / The Verge:
How the SCOTUS NetChoice ruling on social media platforms' First Amendment rights could affect a host of tech legislation, including kids' online safety laws — Here's what the SCOTUS decision might mean for everything from kids online safety laws to the TikTok ‘ban.’
Discussion:
@lauren_feiner, ACLU, @eff and Roll Call
Clare Malone / New Yorker:
Q&A with NYT's Joe Kahn on newsroom flare-ups, defining and building NYT culture among newer employees, his family foundation donations, Gaza coverage, and more — Joe Kahn, the newspaper's executive editor, wants to incentivize his staff to take on difficult stories, even when they might engender scrutiny, or backlash.
Discussion:
Nieman Lab, @brianstelter, @williams_paige, @chaykak, @kirk_bado, @claremalone and @viktorshtrum.bsky.social
Laura Dhillon Kane / Bloomberg:
NATO paid for travel for 16 social media influencers to cover its summit, and the US Defense and State departments invited more; combined audiences reach ~40M — - Alliance invited 16 content creators to summit in Washington — NATO paid for travel expense, but has no editorial control
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