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7:40 PM ET, August 8, 2024

Mediagazer

 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.
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 …
RELATED:
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 …
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 …
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 …
RELATED:
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.
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.
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 …
 
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 More News: 
CNN:
ABC says Trump and Harris have agreed to debate on September 10; at a press conference, Trump also says he has agreed to debate on Fox and NBC
New York Times:
Analysis: Truth Social is increasingly reliant on niche ad campaigns that target hard-core Trump fans and Christian conservatives, often with small ad budgets
Emma Roth / The Verge:
TikTok launches TikTok Spotlight, in-app hubs for movies and TV shows that add links to “applicable” videos with more info and where to watch, tested with Dune
Andrew Marchand / New York Times:
Sens. Elizabeth Warren and Bernie Sanders and Rep. Joaquin Castro write to the DOJ asking to investigate Venu Sports and “oppose it if violates antitrust law”
 Earlier Picks: 
Reuters:
AMET: Chadian police arrest Badour Oumar Ali, the editor-in-chief of major Chadian news website TchadInfos.com; he was taken away by “armed and hooded men”
Financial Times:
Sources: Google and Meta ran a pilot program in the US in May 2024 to target Instagram ads to teenagers on YouTube, which prohibits targeting ads to under-18s