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4:25 PM ET, July 24, 2024

Mediagazer

 Top News: 
Chloe Meley / Bloomberg:
Informa agrees to buy Ascential, the owner of the Cannes Lions and Money20/20 conferences, for ~£1.2B in cash, or £5.68/share, a 53% premium on Monday's close  —  Informa Plc has agreed to buy Ascential Plc, the owner of the Money20/20 and Cannes Lions conferences …
Alex Weprin / The Hollywood Reporter:
YouTube Q2 ad revenue grew 13% YoY to $8.66B, vs. $8.93B est.; Google's subscriptions, platforms, and devices unit that includes YouTube TV had revenue of $9.3B  —  The Google-owned video platform still saw its ad haul rise by 13 percent compared to last year.
Emanuel Maiberg / 404 Media:
Reddit appears to be blocking search engines that don't rely on Google's indexing; Bing, DuckDuckGo, and others are not showing recent results from Reddit  —  DuckDuckGo, Bing, Mojeek, and other search engines are not returning full Reddit results any more.
Chris Welch / The Verge:
Daniel Ek says Spotify is working on a deluxe Spotify tier, costing around $17 to $18, that has “a lot more control, a lot higher quality across the board”  —  The saga of Spotify HiFi has many twists and turns.  First announced over three years ago, the music service's higher …
The Information:
Internal messages: Meta staff complained about Threads' algorithm limiting political posts, after the For You page was slow to show news of Biden dropping out  —  Shortly after Joe Biden dropped out of the presidential election Sunday, an employee at Meta Platforms posted in the company's internal forum …
Melanie Goodfellow / Deadline:
France's Arcom regulator will not renew the TNT frequencies of Canal+ Group's controversial channel C8, which was fined €7.6M for lack of political plurality  —  Controversial French free-to-air channel C8, a subsidiary of Vivendi's Canal Plus Group, is set to lose its TNT frequency …
Variety:
A Prime Video India-commissioned report finds that India is attracting ~$6B per year in local content investments, or $4 per head vs. $370 per head in the US  —  Indian streaming series such as Netflix's “Heeramandi,” Prime Video's “Mirzapur” or Disney+ Hotstar's “Bad Cop,” could soon be more influential than Bollywood.
Discussion: Bloomberg, @lucas_shaw and Deadline
Amanda Meade / The Guardian:
Some of News Corp's most experienced journalists in Australia, including Sue Dunlevy, have been made redundant, as the outlet cuts its national reporting team  —  Murdoch's Australian arm has quietly slashed tens of millions of dollars in costs to counter a slow advertising market and loss of revenue from Meta deal
Amanda Meade / The Guardian:
Journalists at Nine newspapers Sydney Morning Herald and the Age plan to strike during Olympics if their demands, including a higher pay rise, aren't met  —  Reporters will walk off job from Friday - affecting Paris Games coverage - unless union demands are met during Wednesday afternoon meeting
Robbie Whelan / Wall Street Journal:
Former Marvel chairman Ike Perlmutter, who backed Nelson Peltz in a failed proxy fight for two Disney board seats, sells his stake of nearly 26M Disney shares  —  Isaac “Ike” Perlmutter, the former Marvel Entertainment executive, who for the last decade and a half has been one of Disney's …
 
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 More News: 
Jess Weatherbed / The Verge:
Twitch introduces new policy and moderation updates to curb sexual harassment, including making its policy “easier to understand” and adding moderation tools
more at Techmeme »
Jess Jones / City A.M.:
LADbible owner LBG Media reports H1 2024 revenue up 55% YoY to £42.3M, adjusted earnings up 240% YoY to £10.2M, and a global audience of 493M; LBG jumps 11%+
Discussion: LBG Media
Bron Maher / Press Gazette:
A look at The Guardian's recipes app Feast, which costs £2.99/month and has reached 100K+ downloads since April 2024, and how its bundling differs from the NYT
 Earlier Picks: 
Judd Legum / Popular Information:
A look at Sinclair's Rapid Response Team, which produces biased short articles; affiliates must include at least three RRT stories nightly
Natasha Lomas / TechCrunch:
Though the UK's ICO says it's “disappointed” with Google's not deprecating third-party cookies, the regulator has only weakly enforced data protection laws
Todd Spangler / Variety:
Amazon begins rolling out a new UI for Prime Video to help distinguish content included with Prime, update its navigation bar, manage subscriptions, and more
 

 
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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