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.
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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
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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.”
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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.
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Joe Lucia / Awful Announcing:
Fubo's CEO blasts Venu, the Disney/Fox/WBD sports JV, saying it gives them control of 80% of the premium market and curbs competition, as he seeks an injunction — The new Fubo logo. — Fubo's earnings call was on Tuesday. Unsurprisingly, CEO David Gandler used part of his opening remarks …
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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
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Jonathan Vanian / CNBC:
Reddit Q2: revenue rose 54% YoY to $281.2M, vs. $254M est., Daily Active Uniques increased 51% YoY to 91.2M, and net loss dropped from $41.1M to $10.1M YoY — Reddit reported second-quarter results on Tuesday that topped analysts' estimates. — Here are the key numbers:
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Bloomberg and Reddit Upvoted, more at Techmeme »
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.
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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 …
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About Amazon and The Verge, more at Techmeme »
Jake Offenhartz / Associated Press:
The NYPD arrests independent videographer Sam Seligson on felony hate crime charges after he documented a pro-Palestinian protest in June — A New York City journalist was arrested on felony hate crime charges Tuesday after filming a pro-Palestinian protest earlier this summer …
Catherine Perloff / Adweek:
Some ad buyers say Netflix is now charging CPMs between $20 and $30, after originally seeking $65 in 2022 and a reported $39 to $45 in 2023 — The streaming platform initially came to the market with $65 CPMs in 2022 — Netflix is further lowering the prices of its ads …
Discussion:
Catherine Perloff on LinkedIn, @catherineperlo1, TVNewsCheck and The Sun
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 …
Brian Steinberg / Variety:
Charles Barkley, a mainstay of TNT's Inside the NBA, reverses plans to retire and says he will keep working with WBD, which is fighting to keep NBA media rights — Charles Barkley says he isn't getting out of Warner Bros. Discovery's sports game. — The roundball great …
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Kathryn Lundstrom / Adweek:
Uber says its Advertising annual revenue run-rate passed $1B in Q2, up from $650M+ in Q2 2023; Uber began selling in-app Journey Ads programmatically in June — The company broke out its ad revenue in quarterly earnings today and based the estimate on 2024 results to date
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