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7:50 AM ET, August 9, 2024

Mediagazer

 Top News: 
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 …
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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 …
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.
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 …
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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.
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: The Guardian and Deadline
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: TVNewsCheck and AV Club
Theo Wayt / The Information:
TikTok and Pinterest partner with Amazon to let users buy items from Amazon ads without leaving the social media apps  —  Amazon's e-commerce business is huge but slow-growing, while shopping on social media has been taking off.  That's prompted Amazon to look for ways to team up with popular social media apps.
 
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 More News: 
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
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
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
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
 Earlier Picks: 
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
Caitlin Huston / The Hollywood Reporter:
iHeartMedia reports Q2 consolidated revenue of $929M, up 1% YoY, an operating loss of $910M, up from $897M in Q2 2023, and podcast revenue up 8% YoY to $104.5M
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
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
 

 
From Techmeme:

Jody Godoy / Reuters:
Filing: Apple asks to participate in the remedial phase of Google's US antitrust case, saying it can't rely on Google to defend their revenue-sharing agreements

Bloomberg:
Iran's Supreme Council of Cyberspace approves lifting its ban on “certain widely used foreign platforms”, naming WhatsApp and Google Play as the first two apps

Sheldon Reback / CoinDesk:
US and Japanese law enforcement say North Korean hackers were responsible for stealing 4,502.9 BTC, worth $308M, from Japanese crypto exchange DMM in May 2024
 
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