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, Variety, Nieman Lab, The Wrap, The Verge, Deadline, MediaPost, Talking Biz News, Mediaite, @mattdpearce, New York Times, The Hollywood Reporter, @alexweprin, New York Post, Brian Steinberg on LinkedIn, @pressgazette, The Media Mix, Axios, @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
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:
Variety, Bloomberg, Financial Times, The Hollywood Reporter, Associated Press and New York Times
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
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.
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, 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, Fox News, Newser, CNN, HuffPost, New Republic, Washington Post, 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
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.
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