Mediagazer: Sources: Hearst Television lays off dozens of employees working for its free streaming service Very Local, which launched in 2021, serving 26 US markets (Nellie Andreeva/Deadline)

2:55 PM ET, August 9, 2024

Top News:

Yasmin Rufo / BBC:

The BBC asks Huw Edwards to return the £200K+ in salary he made between his November arrest and his April resignation; BBC Chair says he “behaved in bad faith” — Huw Edwards has been asked to return his salary paid since his arrest, with the BBC chair telling staff the ex-presenter acted in “bad faith”.

Discussion: CNN, BBC, Reuters, The Hollywood Reporter, Julie Temple on LinkedIn, Press Gazette, Deadline and The Guardian

Natalie Korach / The Wrap:

Paramount sells entertainment news websites ComicBook and PopCulture to Savage Ventures, which created a joint venture to relaunch Vice digital properties — This comes after Paramount Global's newly appointed co-CEOs detailed a plan including $500 million in cost cuts

Discussion: @jkschmidt, Breitbart, @rollinbishop, @rollinbishop, @kasey__moore, The Hollywood Reporter and Graphic Policy

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

Discussion: The Guardian, Fast Company, Media Play News, Wall Street Journal, IGN, Fox Business, @hadas_gold, AdExchanger, StreamTV Insider, Next TV, CNN, Deadline, TVNewsCheck, IndieWire, The Wrap, Los Angeles Times and Deadline

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

Discussion: New York Daily News, Paramount, Awful Announcing, The Hollywood Reporter, The Desk, Cord Cutters News, Business Insider, Next TV, The Information, The Wrap, The Streamable, Media Play News, IndieWire, Reuters, Variety, Bloomberg and Deadline

Todd Spangler / Variety:

WBD pulls the contents of cartoonnetwork.com, which featured full CN episodes and video clips, and redirects visitors to sign up for Max — Cartoon Network has been scrubbed from the web. … The shuttering of the site appears to have happened Thursday, Aug. 8.

Discussion: New York Post, TVLine, SlashFilm, The Media Leader, The Hollywood Reporter, The Wrap, ComingSoon.net, Engadget, The Verge, @blogdiva@mastodon.social, @popbase, Consequence, TVNewsCheck, Bleeding Cool News and Deadline

Rani Molla / Sherwood News:

A Q&A with Wikimedia Foundation executives on how AI could make knowledge more accessible to people, the possibility that it discourages volunteers, and more — We spoke with Wikipedia executives who told us AI could jeopardize the encyclopedia's connection with the volunteers who create it.

Discussion: Diff

Nellie Andreeva / Deadline:

Sources: Hearst Television lays off dozens of employees working for its free streaming service Very Local, which launched in 2021, serving 26 US markets — Hearst Television has let go of dozens of employees working for its streaming service Very Local, sources tell Deadline.

Discussion: TVNewsCheck

Daniel Thomas / Financial Times:

President of Disney EMEA Jan Koeppen says the company plans to spend at least $5B on content production in the UK and continental Europe in the next five years — Regional chief says UK and continental Europe will play a big role in future box office and streaming hits

Discussion: Variety, Deadline, Craig Higgins on LinkedIn, John Mahtani on LinkedIn, Reuters and TVNewsCheck

Reuters:

Rappler wins an appeal to restore its corporate license as a court rules that the Philippines' SEC overstepped in ordering the outlet's shutdown in 2018 — Philippine Nobel laureate Maria Ressa's news website Rappler won an appeal to restore its corporate licence after a court overturned …

Discussion: The Guardian, Rappler, Reuters, Reporters Without Borders, Al Jazeera and Committee to Protect …

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, Deadline, Advanced Television, The Desk, Broadband TV News, RTÉ, The Hollywood Reporter, The Guardian, ABC, Australian Financial Review and Mumbrella

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%

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: TechCrunch, Substack Reads and @simondowens@threads.net

Lucas Manfredi / The Wrap:

AMC Networks reports Q2 net loss of $29.2M, revenue down 7.8% YoY to $625.9M, streaming subscribers up 5% YoY to 11.6M, and streaming revenue up 9% YoY to $150M — The company recorded $97 million in impairment charges related to the devaluation of its international business and BBC America

Discussion: Advanced Television, Deadline, Media Play News, Variety and Next TV

Reuters:

Venezuelan President Nicolas Maduro blocks X in the country for 10 days, accusing Elon Musk of using X to incite hate after Venezuela's disputed election — Venezuelan President Nicolas Maduro on Thursday took tensions with social media platform X and its owner Elon Musk to new heights …

Discussion: CNN, CNBC, UPI, Associated Press, Engadget, Agence France-Presse, @kennysmith.bsky.social, Al Jazeera, Xataka On, TechRadar and Deutsche Welle, more at Techmeme »

The Hollywood Reporter:

A look at the battle among streamers for stand-up comic specials, as Amazon, Hulu, and Max challenge Netflix's dominance of the genre — What industry contraction? Platforms from Hulu to Amazon are spending wildly to woo comedians like Nate Bargatze and Bill Burr and put a dent in Netflix's dominance.

Discussion: AV Club and TVNewsCheck

Theo Wayt / The Information:

Amazon partners with TikTok and Pinterest to let users buy items from Amazon ads without leaving the social media apps, expanding on deals with Meta and Snap — Amazon's e-commerce business is huge but slow-growing, while shopping on social media has been taking off.

Discussion: Tubefilter, Quartz, Engadget, Malte Karstan on LinkedIn, esports.gg, Affiverse and Bloomberg, more at Techmeme »

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Bloomberg:
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Emilia Otte / CT Examiner:
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