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3:35 PM ET, August 6, 2024

Mediagazer

 Top News: 
Benjamin Mullin / New York Times:
Red Ventures sells CNET, an early pioneer of online tech coverage, to Ziff Davis, which owns Mashable, PC Mag, Lifehacker, and others, a source says for $100M+  —  Ziff Davis is acquiring CNET for more than $100 million.  Its chief executive thinks more acquisitions are on the horizon.
Katie Robertson / New York Times:
Internal memo: Axios CEO Jim VandeHei says the company is laying off about 50 employees, or ~10% of the company, due to “changes in the media business”  —  Jim VandeHei, the company's chief executive, said in an email that the cuts were necessary to adapt to “changes in the media business.”
RELATED:
Etan Vlessing / The Hollywood Reporter:
FuboTV reports Q2 North America revenue up 26% YoY to $383M vs. $368M est., North America paid subscribers up 24% to 1.45M, rest of world revenue up 2% to $8.3M
Lauren Feiner / The Verge:
A US federal judge rules Google has a monopoly in “general search text advertising” and Google's exclusive agreements enabled it to raise prices on that product  —  A federal judge ruled that Google violated US antitrust law by maintaining a monopoly in the search and advertising markets.
Next TV:
Future plans to end Broadcasting & Cable, Multichannel News, and NextTV in print and as newsletters, replacing them with one newsletter and revamping NextTV.com  —  By B+C Staff( Broadcasting & Cable ) published  —  Charlie Weiss will take on chairman role for B+C Hall of Fame, with Bill McGorry moving into chairman emeritus role
Sara Fischer / Axios:
X sues the World Federation of Advertisers, GARM, and GARM members CVS Health, Mars, Orsted, and Unilever over what Linda Yaccarino calls an “illegal boycott”  —  Members include major tech companies, advertisers, agencies, ad tech firms and advertising coalitions.
Charlie Nash / Mediaite:
Jennifer Jacobs, the Bloomberg News reporter fired for allegedly breaking Russian prisoner swap story embargo, suggests she didn't decide to publish prematurely  —  Bloomberg News senior White House reporter Jennifer Jacobs shot back at the news outlet on Monday after she was fired …
Lauren Forristal / TechCrunch:
Amazon Music debuts Maestro, an AI-powered playlist generator, and Topics, which helps users find podcast episodes by topic and is powered by both AI and humans  —  Amazon Music announced Tuesday the launch of its new AI-powered feature, “Topics,” which allows users to explore podcast episodes …
Financial Times:
Sources: WBD looks to avoid breaking up the company by offloading smaller assets, such as selling Polish broadcaster TVN or a stake in WBD's gaming business  —  Executives fear ‘years of legal challenges’ if they split its TV and movie studio businesses  —  Warner Bros Discovery's senior management …
Sara Fischer / Axios:
ProRata, which aims to attribute and share AI chatbot subscription revenue with content owners, raised a $25M Series A and inks deals with major media companies  —  A handful of major news and music companies have agreed to license their content to ProRata.ai, a generative AI startup that claims …
Alex Weprin / The Hollywood Reporter:
Fox Corp reports Q4 revenue up 2% YoY to $3.1B, affiliate fee revenue up 5% YoY to $1.9B, ad revenue flat YoY at $1B, and $320M net income, vs. $369M in Q4 2023  —  The company said that revenue rose slightly in the quarter thanks to its carriage agreements, but that the election and Super Bowl are setting it up for a big year.
Chris Welch / The Verge:
Google unveils the $100 Google TV Streamer, with better performance than Chromecast with Google TV, Thread and Matter support, and more, shipping September 24  —  Google isn't waiting for its upcoming hardware event to announce the Chromecast's successor.  Alongside the new, sleeker Nest Thermostat …
 
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 More News: 
Jake Offenhartz / Associated Press:
The NYPD arrests independent videographer Sam Seligson on federal hate crime charges after he documented a pro-Palestinian protest in June
Justine Fisher / CNBC:
Starting October 17, Disney will raise the cost of most plans for Disney+, Hulu, and ESPN+ by $1 to $2 more per month, as it pushes customers to bundles
Reuters:
ByteDance debuts AI text-to-video app Jimeng AI on iOS in China, after its July 31 Android release; China's Kuaishou released Kling AI in beta globally in July
Lili Bayer / The Guardian:
Critics say Hungary's new sovereignty protection office, set up to monitor foreign influence, has been targeting independent journalism and watchdog groups
 Earlier Picks: 
Andrew Bucholtz / Awful Announcing:
FAST channels NEWSnet and SportsNewsHighlights, owned by Manoj Bhargava's Bridge Media, abruptly shuts down, resulting in the layoffs of 80 employees