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12:40 PM ET, March 6, 2025

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 Top News: 
Charlotte Tobitt / Press Gazette:
Financial Times CEO John Ridding plans to step down on July 1 after 19 years, and will take an honorary FT chair title; the FT will now find a replacement  —  Financial Times CEO John Ridding is stepping down in June after leading the newspaper group for almost 20 years.
Naman Ramachandran / Variety:
ITV reports FY 2024 revenue down 3% YoY to $5.34B, Studios revenue down 6% YoY to $2.63B, digital ad revenue up 15% YoY, and its efficiency program saved $77.5M  —  The U.K.'s ITV revealed strong profit growth in its full-year results for 2024, despite facing challenges from the U.S. actors …
Alex Weprin / The Hollywood Reporter:
Netflix plans to host its second live boxing special on July 11 at Madison Square Garden with a rematch of Katie Taylor vs. Amanda Serrano  —  The all-women's boxing card will be held at Madison Square Garden July 11, and will stream live on Netflix.  —  Netflix is back in business …
Mandy Dalugdug / Music Business Worldwide:
Lyric rights licensing company LyricFind sues Musixmatch and its owner TPG Growth, alleging antitrust violations that threaten competition across the industry  —  LyricFind has lodged an antitrust lawsuit against lyrics provider Musixmatch and its private equity owner TPG Growth.
Wayne Friedman / MediaPost:
BIA estimates core US local ad spend to grow 6.1% YoY to $171B in 2025, with digital media having a 52.4% share and traditional media having 47.6%  —  Core, non-political U.S. local advertising is estimated to grow 6.1% in 2025 to $171 billion from a year ago, according to BIA Advisory Services.
Todd Spangler / Variety:
Netflix CFO Spencer Neumann says Netflix plans to spend ~$18B in cash on content in 2025, up nearly 11% YoY, and the amount is “not anywhere near a ceiling”  —  Netflix expects to spend in the neighborhood of $18 billion in cash on content in 2025 — and it sees plenty of runway …
Chris Welch / The Verge:
All Elite Wrestling and Amazon Prime Video announce a new multi-year agreement to offer AEW's pay-per-view events in the US, Canada, and the UK on Prime Video  —  The new pay-per-view streaming partnership kicks off this weekend with AEW Revolution, which costs $49.99.
Todd Spangler / Variety:
Neal Mohan says YouTube Originals didn't work because YouTube wasn't “good at picking content” and so the company decided to focus on building creator tools  —  YouTube has tried its hand at funding original content more than once — with disappointing results.
The Wrap:
Sources: LAT's Hector Becerra faced an HR probe in 2022 over alleged “insulting” behavior, including bullying; LAT says it has “been addressed and resolved”  —  The paper's De Los editor Paloma Esquivel resigned last week, accusing HR of dismissing her complaints against Becerra
Andrew Cohen / Awful Announcing:
Gannett posts job listings for an AI sports editor and AI-assisted sports reporter; after flubs in 2023, it paused using LedeAI for high school sports stories  —  Gannett plans to hire an “AI Sports Editor” and “AI-Assisted Sports Reporter” as America's largest newspaper chain doubles-down on artificial intelligence in its newsrooms.
RELATED:
Gordon Smith / Journalism.co.uk:
How the Financial Times is using online polls to engage readers and grow subscriptions; polls in FT newsletters regularly record engagement rates above 75%  —  The newspaper has a loyal, well-informed readership keen to share their opinions.  Polls in its newsletters record engagement over 75 per cent
 
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 More News: 
Lauren Forristal / TechCrunch:
Intangible, which offers an AI tool that allows filmmakers, game designers, and others to create 3D world concepts with text prompts, raised a $4M seed
Dominic Ponsford / Press Gazette:
UK journalist Graham Johnson estimates he cost News UK £500M through his testimony, books, and legal research since his phone hacking conviction in 2014
Forbes:
A TollBit analysis of 160 websites on its content licensing service finds AI search engines drive 96% less referral traffic than Google Search
Rick Porter / The Hollywood Reporter:
Nielsen: Trump's address to Congress drew 36.6M viewers, a larger number than three of Biden's addresses to Congress but smaller than any in Trump's first term
 Earlier Picks: 
Variety:
Variety.com names Zack Sharf as managing editor; Sharf joined Variety in January 2022 as digital news director after seven years at IndieWire
Ted Johnson / Deadline:
Tom Llamas will succeed Lester Holt as anchor of NBC Nightly News after Holt signs off in early summer
Ian Carlos Campbell / Engadget:
Amazon announces an “AI-aided dubbing” pilot program on Prime Video, starting with dubbing in English and Latin American Spanish on 12 movies and series
Chris Roush / Talking Biz News:
WSJ journalists laid off amid consolidation of tech and media teams include Alexa Corse, Tom Dotan, Asa Fitch, Ben Fritz, Miles Kruppa, and Aaron Tilley