Top News:
Lara O'Reilly / Business Insider:
Email: the World Federation of Advertisers discontinues activities of its nonprofit, GARM, following X's antitrust lawsuit, but intends to contest X's claims — - The World Federation of Advertisers is ‘discontinuing’ the activities of the Global Alliance for Responsible Media.
Discussion:
Fox Business, New York Times, PRWeek, Adweek, The Verge, Ars Technica, MediaPost, The Guardian, Michael Follett on LinkedIn, Reclaim The Net, Courtney Radsch, PhD on LinkedIn, Bloomberg, Breitbart, Wall Street Journal, New York Post, Engadget, Quartz, @lauren@mastodon …, @catthekin@threads.net, Claire Atkin on LinkedIn, @chronotope.aramzs.xyz, Arielle Garcia on LinkedIn, Sarah Kay Wiley on LinkedIn, Lara O'Reilly on LinkedIn, @larakiara, @crumbler@threads.net, @daveleebbg@threads.net, @renee.diresta@threads.net, Ruben Schreurs on LinkedIn, @mac_ryan_@threads.net, @catthekin@threads.net, @jalefkowit@vmst.io, Barrett Media and Inside Radio, more at Techmeme »
Rishav Chatterjee / Reuters:
News Corp puts its 65% interest in Australian pay TV company Foxtel up for sale, citing third-party interest and a strategic review — Australian pay television company Foxtel, controlled by the Murdoch family and partly by local telecom firm Telstra (TLS.AX), has been put …
Discussion:
Sydney Morning Herald, Australian Financial Review, Mumbrella and ABC
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Jaspreet Singh / Reuters:
News Corp reports Q4 revenue up 6% YoY to $2.58B vs. $2.49B est., net income of $71M, Dow Jones revenue up 4% to $566M, and book publishing revenue up 15% — Media conglomerate News Corp (NWSA.O) beat Wall Street estimates for fourth-quarter revenue on Thursday, helped by digital subscription growth …
Discussion:
News Corporation, New York Post, Talking Biz News and The Wrap
Sheena Vasani / The Verge:
Substack now lets users publish posts and collect subscribers directly from their profile without setting up a publication, on the web or in its app — Anybody with a Substack account can now publish posts on Substack's web and mobile app, the company announced on Thursday …
Discussion:
@simondowens@threads.net and Substack Reads
Todd Spangler / Variety:
Paramount Global says it will cut 15% of its US workforce, or about 2,000 employees, in the next few weeks, after cutting about 800 positions in February — Paramount Global will cut 15% of its U.S. workforce in the next few weeks — a round of layoffs that will affect about 2,000 employees …
Discussion:
StreamTV Insider, The Guardian, CNN, IndieWire, The Wrap, Deadline, TVNewsCheck, @hadas_gold, Los Angeles Times and Deadline
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Alex Sherman / CNBC:
Paramount reports Q2 revenue down 11% YoY to $6.81B vs. $7.21B est., its first ever streaming profit, of $26M, and a $5.98B impairment charge for cable networks — Paramount Global is cutting 15% of its U.S. workforce, or about 2,000 jobs, part of a broader cost-cutting plan as it prepares for a merger with Skydance Media.
Discussion:
The Desk, Business Insider, Variety, The Wrap, The Streamable, Ad Age, IndieWire, Reuters, Paramount, Cord Cutters News, Next TV, The Information, The Hollywood Reporter, Deadline and Media Play News
Michael M. Grynbaum / New York Times:
Oliver Darcy leaves CNN to launch Status, a newsletter akin to Puck, for $15/month or $150/year; CNN says the Reliable Sources newsletter is on summer hiatus — Oliver Darcy is starting a subscription-based news site dedicated to covering the media industry, joining a crowded field.
Discussion:
Status, Variety, @oliverdarcy@threads.net, @unbonfromage@threads.net, @digiphile@threads.net, The Hollywood Reporter, @passantino@threads.net, Breitbart, The Wrap, @digiphile@threads.net, @bethanyshondark, @keitholbermann, Mediaite, New York Post, @maxwelltani, @donie, Deadline, @donie, Associated Press, Barrett Media and Talking Biz News
Marianna Spring / BBC:
A look at the people behind Channel3Now, a crime news aggregator whose story wrongly blaming an asylum seeker for the Southport attack played a role in UK riots — What connects a dad living in Lahore in Pakistan, an amateur hockey player from Nova Scotia - and a man named Kevin from Houston, Texas?
Arvind Dilawar / Drop Site News:
A freelance journalist claims the NYT failed to correct a story he co-wrote on antisemitism in Teaneck, NJ, after he found a source gave incorrect information — An elected official alleged an antisemitic break-in. Police say it didn't happen. — As a freelance journalist …
Discussion:
@jbenmenachem, @nkulw, @derekjohnbryant, @jeremyscahill, @ryangrim and @malsaafin
Emilia Otte / CT Examiner:
Hearst Connecticut Media Group workers plan to form a union; despite support from some politicians, management said it would not voluntarily recognize the group — Hearst Connecticut Media Group announced on Thursday that it would not recognize a union formed by its reporters …
Discussion:
@bostonglobe, @newsguild, @juliann_ventura, The NewsGuild and The Boston Globe
Thomas Hunter / Press Gazette:
Victoria Newton, editor of The Sun, defends her outlet's early coverage of the BBC's Huw Edwards and criticizes the Met's delay in revealing charges against him — Newton believes it was BBC News coverage that led to The Sun being “vilified” for its reporting.
Discussion:
Mark Stephens CBE on LinkedIn, @pressgazette and BBC
Bloomberg:
Sources: the UK is considering revisiting parts of the Online Safety Act to give authorities more power to force social media companies to curb harmful content — - Starmer has few existing levers to curb incendiary content — Officials consider revisiting key parts of Online Safety Act
Discussion:
The Guardian, The Hill, The Verge, Deadline and RADAR, more at Techmeme »
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