Mediagazer: Tencent Music reports Q3 revenue up 6.8% YoY to ~$970M, below est., social entertainment revenue down 23.9%, and paying users up 15.5%; TME drops 5%+ pre-market (Reuters)

10:50 AM ET, November 12, 2024

Top News:

Sources: Disney board members are exploring fresh candidates in their search for a successor to Bob Iger, including EA CEO Andrew Wilson — Disney board members are considering outsiders including the CEO of videogame company Electronic Arts — Disney is exploring fresh candidates …

Discussion: @mediaevan, @alexweprin and @dylanbyers

Benjamin Mullin / New York Times:

Nicholas Carlson unveils Dynamo, a video-focused company that aims to make “cinematic” stories, and raised $3.4M from Henry Blodget, Jessica Lessin, and others — Nicholas Carlson is preparing to debut a media start-up of his own called Dynamo.Clark Hodgin for The New York Times

Discussion: TVNewsCheck, @chaykak, @bristei, @scottnover, @hblodget, @benmullin and @nichcarlson

Lucia Moses / Business Insider:

The New York Times says the Tech Guild is ending its strike after a weeklong work stoppage; during the strike, dozens of tech workers crossed the picket line — New York Times tech workers are ending their strike after a weeklong stoppage, Business Insider first reported.

Discussion: Washington Post, New York Times, TVNewsCheck, The Verge, @brianstelter, @semaforben, @nyguild, @corbinbolies, @lmoses, @maxwelltani, @lessin, The Wrap, @nytguildtech, Fox News, @mjanssen.bsky.social, MediaPost and Boing Boing, more at Techmeme »

Hugh Dougherty / The Daily Beast:

Chris Wallace quits CNN after three years, opting not to renegotiate his contract, and says he will instead go independent — The veteran broadcaster, 77, will walk away from his seven-figure role in a watershed moment for cable TV. — EXCLUSIVE — Chris Wallace is quitting CNN …

Discussion: USA Today, CNN, @charliekirk11, @collinrugg, ZeroHedge News, RedState, Newser, @brianstelter, Barrett Media, New York Times, Poynter, IJR, Page Six, New York Post, TVLine, al.com, Raw Story, @ameshiacross, HuffPost, Mediaite, @brianstelter, Axios, The Hill, The Wrap, Deadline, Variety, Status, Fox News, TVNewsCheck, Twitchy, The Gateway Pundit, Just Jared and The Hollywood Reporter

Le Monde:

Le Monde, Le Figaro, Les Echos, and other French news outlets sue X, accusing it of running their content without paying, violating so-called neighboring rights — Several leading French news organizations said Tuesday, November 12, that they are suing social media platform X, accusing it of running their content without payment.

Discussion: TechCrunch, The Guardian, Reuters, Telegraph, Daily Sabah and Al Jazeera

Lily Ford / The Hollywood Reporter:

Gary Lineker plans to step down from soccer show Match of the Day after 26 years, but extends his BBC Sport contract; he is the BBC's highest-paid presenter — The ex-England soccer captain has become the face of BBC Sport and the public broadcaster's highest-paid presenter since …

Wall Street Journal:

Meta plans to ask Facebook and Instagram users in Europe if they want to get “less personalized ads” and cuts subscription prices by 40%, a concession to the EU — The Facebook and Instagram owner faces pressure in Europe to ask before using data to target ads or train artificial intelligence.

Discussion: TechCrunch, noyb, Reuters, The Verge, Bloomberg, Associated Press, RTÉ, @eric_seufert, @metanewsemea, WinBuzzer, Axios, Irish Independent and Meta, more at Techmeme »

Reuters:

Tencent Music reports Q3 revenue up 6.8% YoY to ~$970M, below est., social entertainment revenue down 23.9%, and paying users up 15.5%; TME drops 5%+ pre-market — Tencent Music Entertainment (1698.HK) missed estimates for quarterly revenue on Tuesday, as Beijing's crackdown …

Discussion: Billboard, Variety, Music Business Worldwide, Investing.com and Tencent Music

Brian Steinberg / Variety:

Netflix says its ad tier has 70M MAUs globally, up from 40M in May 2024, and it sold all out available in-game inventory for its Christmas Day NFL broadcasts — Netflix, a company that once dismissed the concept of allowing commercials around its popular streaming content, now can't seem to get enough of them.

Discussion: Deadline, About Netflix, Bloomberg, The Wrap, Reuters, The Information, Los Angeles Times, The Hollywood Reporter, CNBC and Yahoo Finance, more at Techmeme »

Tom Tapp / Deadline:

The Tennis Channel indefinitely suspends analyst Jon Wertheim for “inappropriate” comments he made on air about Wimbledon champ Barbora Krejčíková's appearance — Longtime tennis analyst, Tennis Channel commentator and 60 Minutes contributor Jon Wertheim …

Bloomberg:

Letter: a group of Dish creditors rejects a bond-exchange offer that is key to the company's proposed acquisition by DirecTV, ahead of a November 12 deadline — The steering committee of Dish lenders made its case to a wider group of bondholders, calling the deal one of the largest …

Discussion: The Streamable, Wall Street Journal, TVNewsCheck, Cord Cutters News, The Desk, CBS News and Benzinga

Brian Stelter / CNN:

Fox News contributor Tom Homan leaves the network to become Trump's “border czar”, showing how Trump is poised to re-make the “Fox News White House” — New York CNN — — When Tom Homan left the US Immigration and Customs Enforcement agency in 2018 …

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More News:

Mark Sweney / The Guardian:
Fortress Investment Group acquires Curzon, a UK arthouse film company with 16 cinemas across the UK, a distribution arm, and a streaming service

Discussion: The Mirror, City A.M., Telegraph, Fortress Investment Group, Screen, London Evening Standard, The Independent, Variety, Deadline and The Hollywood Reporter

Sara Fischer / Axios:
Source: Substack raised ~$10M in new funding; investors include Nate Silver and Omeed Malik, whose firm 1789 Capital backed Tucker Carlson's new media venture

Dominic Ponsford / Press Gazette:
An interview with The Sun's former royal editor Duncan Larcombe on Fleet Street “dark arts”, Sun's toxic newsroom, Prince Harry's “deluded” lawsuit, and more

Bron Maher / Press Gazette:
An interview with Newsweek SVP of Audience Development Josh Awtry on how Google referrals helped Newsweek become the world's fastest-growing English news site

Discussion: @matthewkeyslive, Josh Awtry on LinkedIn and Paul Rhodes on LinkedIn

Oliver Darcy / Status:
Q&A with The New Yorker editor David Remnick about low morale in media after Trump's victory, MAGA Media's role in poisoning the public discourse, and more

Discussion: The Hill and Mediaite

Todd Spangler / Variety:
Endeavor agrees to sell OpenBet and IMG Arena, its sports gambling and tech businesses, in a $450M management buyout backed by Endeavor chief Ari Emanuel

Discussion: WORLD SCREEN, Front Office Sports, @lucas_shaw, TVNewsCheck, Los Angeles Times, The Wrap, Reuters, Sportico, Deadline and The Hollywood Reporter

Maria Heeter / Financial Times:
IAC says it is weighing spinning off its 85% stake in Angi and is open to selling other assets as the media group slims down

Discussion: Benzinga, The Information, Reuters, MediaPost, Barron's Online and CNBC

Alexandra Bruell / Wall Street Journal:
Sources: VP and GM of Google News Shailesh Prakash, who moved from The Washington Post to Google two years ago, has resigned

Discussion: TVNewsCheck, The Information, Hindustan Times, MediaPost and New York Post

Earlier Picks:

The Information:
Sources: more than a year before the US election, TikTok executives revamped moderation rules and trust and safety staff to make it more appealing to Trump fans

Discussion: @erinkwoo, @semaforben, @amir, @thedragonfeeder, @srimuppidi, @mrbrooksher.bsky.social and @nojustdan.bsky.social, more at Techmeme »

Max Tani / Semafor:
US legacy news outlets' coverage of Trump is likely to change as they end internal debates about “normalizing” Trump and acknowledge a political realignment

Discussion: HotAir, @stphnfwlr, @jayshams, @tednesi, @aidnmclaughlin, @maxwelltani, @shelbytalcott, @taylorlorenz, @pkafka, @chrisschaef, @pressgazette, @maxwelltani, Business Insider and Instapundit

Brian Steinberg / Variety:
An interview with Arnon Mishkin, who has directed Fox News' decision desk for years, about its Fox News Voter Analysis, improvements for the 2026 midterms, more

Discussion: @bristei

Charlotte Tobitt / Press Gazette:
Free London business newspaper City AM plans to drop its Monday print edition, going down to three days per week and putting a small number of roles at risk

Discussion: @athenae.bsky.social and Talking Biz News

Zac Bowden / Windows Central:
Microsoft confirms moving its news content services back under the MSN brand, after previously moving them to Microsoft Start branding in 2021

Discussion: WinBuzzer and @zacbowden

Raquel ‘Rocky’ Harris / The Wrap:
Slate says its daily subscription sign-up rate was 7x a normal day on November 6, the day after the 2024 Election, and 4x a normal day on election day itself

Discussion: Media Play News, @hilella, @benmullin and Slate

Charlotte Tobitt / Press Gazette:
Daily Mail EIC Ted Verity says Mail+ has hit 100K paying subscribers, after launching the partial paywall in January 2024, and plans a US Mail+ launch in 2025

Discussion: @pressgazette

Zack Whittaker / TechCrunch:
The Senate has a few weeks left to pass the PRESS Act, a federal “shield” bill for reporters that the House passed with unanimous, bipartisan support in January

Discussion: @freedomofpress, @cdarwin@c.im and @zackwhittaker@mastodon.social

From Techmeme:

Kent Walker / The Keyword:
Google says the DOJ's “wildly overbroad proposal goes miles beyond the Court's decision”, would hurt US consumers, and jeopardize the US' global tech leadership

Paige Smith / Bloomberg:
The CFPB will supervise tech companies with digital wallets, like Apple Pay, Google Pay, and Venmo, with 50M+ annual transactions, treating them more like banks

Jay Peters / The Verge:
Adam Mosseri says Threads is rebalancing ranking to prioritize content from people that users follow, warns that creators' “unconnected” reach may go down

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