Top News:
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, @rollinbishop, @kasey__moore, @rollinbishop, The Hollywood Reporter and Graphic Policy
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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
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Fast Company, The Guardian, Wall Street Journal, @hadas_gold, IGN, AdExchanger, StreamTV Insider, CNN, Deadline, TVNewsCheck, Next TV, IndieWire, The Wrap, Los Angeles Times and Deadline
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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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
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.
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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, Variety, Next TV and Deadline
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, Al Jazeera, Reuters and Committee to Protect …
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:
Advanced Television, Press Gazette, Reuters, The Guardian, The Hollywood Reporter and Deadline
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, Reuters, TVNewsCheck, Deadline 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
Reuters:
Venezuelan President Nicolas Maduro bans X in the country for ten days, accusing Elon Musk of using X to promote hatred 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:
Agence France-Presse, TechRadar, Semafor, Associated Press, Al Jazeera, Deutsche Welle and Xataka On, more at Techmeme »
Todd Spangler / Variety:
Lionsgate reports a Q1 net loss of $59.4M vs. a $70.7M net loss a year ago and revenue down 8% YoY to $834.7M vs. $857.5M est.; Starz shed 500K subscribers — Lionsgate, still feeling ripple effects from last year's twin Hollywood strikes, reported a decline in sales and while narrowing …
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.
Discussion:
esports.gg, Affiverse and Bloomberg, more at Techmeme »
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