Top News:
Brian Steinberg / Variety:
WBD reports Q1 revenue down 10% YoY to $8.9B, net income down 53% to $453M, $2.6B streaming revenue, $339M streaming adjusted EBITDA, and 122.3M streaming subs — Even so, the company had to contend with dips in all of its traditional streams of revenue, including advertising and distribution …
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Tony Maglio / The Hollywood Reporter:
CNBC's David Faber: sources say WBD is moving toward a split that would see its linear cable networks spun off from the studio and Max — CNBC's David Faber reports that a spinoff of Warners' cable channels is imminent. — It sounds like Discoveryco. may be a reality.
Discussion:
Seeking Alpha, MediaPost, Yahoo Finance and CNBC
Todd Spangler / Variety:
WBD says it'll start getting “more assertive” about blocking password sharing later in 2025 and Max password-sharing feature will fully roll out in 12-18 months — That lets a primary account owner share their Max account by inviting a friend or family member outside of their household …
Discussion:
Deadline, Business Insider, Media Play News and The Hollywood Reporter
Eshe Nelson / New York Times:
President Trump's threatened 100% tariffs on foreign films causes anxiety in the UK industry; nearly 90% of the £5.6B spent on 2024 production came from abroad — After struggling through pandemic shutdowns and twin Hollywood strikes, the British film and TV industry is worried that duties will wreak devastation.
Discussion:
Barron's Online, CNN, The Western Journal, Politico, NPR, Axios, Euro Weekly News, Yahoo Finance, Reuters, Washington Times, Wall Street Journal, CBS News, Washington Examiner, Al Jazeera, Tangle, NBC Bay Area and Mirror
Chris Vallance / BBC:
The Wikimedia Foundation says it is taking legal action to challenge the UK's Online Safety Act, saying it could threaten the safety of its volunteer editors — Wikipedia is taking legal action against new Online Safety Act regulations it says could threaten the safety of its volunteer editors …
Discussion:
The Verge, The Guardian, @openrightsgroup, Silicon UK, Diff and City A.M.
Jem Aswad / Variety:
Rolling Stone announces CEO Gus Wenner will assume the role of executive chairman and Julian Holguin, the former president of Billboard, will become the new CEO — Rolling Stone has announced that Gus Wenner will assume the role of executive chairman, and Julian Holguin will become the brand's CEO.
Discussion:
The Wrap
Lachlan Cartwright / Breaker:
Sources: NYT reporter Rob Copeland filed a HR complaint against editor Ellen Pollock after she threatened to “kill” him if a Harvard story exceeded 2,000 words — Pamela Paul's new gig; Keith McNally censored; VERSANT vs Vaulter — In partnership with … Newsrooms plus pressure equals... more drama.
Financial Times:
Jefferies expects the global anime market to hit $60.1B by 2030, up from $31.2B in 2023, as Hollywood searches for IP; Japanese studios capture <10% of revenues — Stay informed with free updates — Simply sign up to the Media myFT Digest — delivered directly to your inbox.
Discussion:
@simondowens@threads.com
Jeré Longman / New York Times:
Clarence O. Smith, co-founder and president of Essence, the first general circulation magazine directed at Black women, has died at age 92 — As president, he helped persuade companies like Estée Lauder and Ford to advertise in the pages of the first mass-circulation magazine directed at Black women.
Discussion:
Essence
Mark K. Miller / TVNewsCheck:
Nexstar reports Q1 revenue down 3.9% YoY to $1.23B, primarily due to reduced political advertising revenue and net income down 42% to $97M — Save this article for later! Login or create a Free Member Profile to bookmark it. — That $50 million drop to $1.23 billion was “primarily due to reduced political advertising revenue.”
Discussion:
Yahoo Finance, Barrett Media and Nexstar Media Group, Inc.
Liam Scott / Columbia Journalism Review:
Q&A with RFE/RL reporter Andrei Kuznechyk, whose release from a Belarus jail in February was brokered by the US, on the importance of RFE/RL in Belarus and more — After 1,175 days in a Belarusian prison, Andrei Kuznechyk, a journalist with the US-funded international broadcaster Radio …
Discussion:
NPR
Chris Gardner / The Hollywood Reporter:
Former British Vogue EIC Edward Enninful and his sister Akua plan to launch digital platform EE72 and quarterly print magazine 72 Magazine in September 2025 — Edward Enninful's EE72 has reeled in Simone Oliver as head of content, Sarah Harris as editorial director and Lee Swillingham …
Discussion:
WWD, The Business of Fashion and Red Carpet Fashion Awards
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