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1:25 PM ET, August 9, 2024

Mediagazer

 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
RELATED:
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
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
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:
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
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 …
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, RTÉ and TVNewsCheck
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 …
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 …
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.
 
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 More News: 
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
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
 Earlier Picks: 
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
 

 
From Techmeme:

Wall Street Journal:
Gina Raimondo says holding back China in the chips race is a “fool's errand”, and investment, more than export controls, will keep US ahead of Beijing

Paresh Dave / Wired:
Google says it wouldn't force its device makers, browser, and wireless carrier licensees to distribute Gemini to US users for three years, in a proposed remedy

Reuters:
Albania bans TikTok for a year from January 2025, part of a broader plan to make schools safer following the killing of a 14-year-old near a school in November
 
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