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, The Wrap, Nieman Lab, Variety, The Verge, MediaPost, Talking Biz News, Deadline, Mediaite, Axios, @mattdpearce, The Hollywood Reporter, New York Times, @alexweprin, New York Post, Brian Steinberg on LinkedIn, @pressgazette, The Media Mix, @brianstelter, @bristei, @rasmus_kleis, The Information, @heysamantha, Los Angeles Times, @sfiegerman, @kevincollier, Jeremy Moore on LinkedIn, Cord Cutters News, The Media Leader, @iyengarish, @bristei and Reuters
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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:
The Wrap, Talking Biz News, @tvmojoe, @blowryontv and CNN
Claire Atkinson / The Media Mix:
Sources: CNN lays off the team producing its Opinion section, with an end date of August 9; source: Senior Editor Sheena McKenzie is among those cut — Staff told current operations are winding down. — The CNN team working on the news network's Opinion output was let go today.
Discussion:
@bsdtectr.bsky.social and @newspolitics
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:
Financial Times, Bloomberg, The Hollywood Reporter, New York Times 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, Radio Free Europe/Radio …, @bbcstever, @paige_reynolds_, @kevinrothrock, @samberkhead, @bbcstever, @macktubs, @niktwick, @hejsascha, @moscowtimes, @evahartog, Voice of America, @tomashirstecon, @tomashirstecon, @andrew__roth, 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, NBC News, @todarorichard, New York Post, Fox News, The Guardian, The Hill, CBS News, @redsteeze, Raw Story, New Jersey Online, @abbydphillip, @waylon_wc, @tmz, Los Angeles Times, @themainnetwork, The Daily Beast, Slate, @collinrugg, Newser, CNN, HuffPost, Washington Post, New Republic, The Wrap, Variety, Deadline, Mediaite and The Hollywood Reporter
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, @viktorshtrum.bsky.social, @kirk_bado and @claremalone
Janko Roettgers / Lowpass:
Redbox owner Chicken Soup for the Soul Entertainment is granted Chapter 7 bankruptcy, paving the way for shutting down the company and liquidating its assets — Redbox will shut down, corporate parent is being liquidated — The bankruptcy case of Redbox's corporate parent Chicken Soup …
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
Bloomberg:
WBD CEO David Zaslav calls the Paramount/Skydance deal “good for the industry” and hopes the next president embraces deregulation “so companies can consolidate” — “Getting [Paramount] in solid hands and having them funded — it's a great company and a great heritage …
Discussion:
Variety, @bgrueskin, @KarlBode@masto.ai, @pkafka, New York Post, Raw Story, Business Insider and The Hollywood Reporter
Bill Donahue / Billboard:
The US Copyright Office finalizes a new rule aimed at ensuring that songwriters who reclaim rights to their music will actually get paid streaming royalties — The new rule clears up uncertainty about who gets paid streaming royalties when songwriters take back their music rights - a trickier question than it sounds.
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