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7:50 AM ET, May 27, 2025

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 Top News: 
Financial Times:
Sources: Trump Media and Technology Group aims to raise $2B in fresh equity and another $1B via a convertible bond to buy crypto, including bitcoin  —  US president's administration and family have become staunch advocates for digital assets  —  Antoine Gara, Oliver Barnes and George Steer in New York, Arash Massoudi in London
Semafor:
Inside the “anti-woke” media's identity crisis after Trump's win, amid concerns The Free Press and others are becoming platforms for “moderate Trump sycophants”  —  The libertarian journalist Michael Moynihan felt the shift on election night 2024, after it had become clear that Donald Trump would win.
Ben Fritz / Wall Street Journal:
Comscore: US and Canada box office sales totaled $326.7M for a record Memorial Day weekend, led by Disney's Lilo & Stitch remake, which grossed $183M  —  Strong holiday weekend contributes to major comeback for this year's domestic box office  —  It was a blockbuster Memorial Day weekend for Hollywood, led by a little blue alien.
Lucas Shaw / Bloomberg:
Sources: Disney+ will exclusively stream every season of CoComelon starting in 2027, paying tens of millions of dollars annually to take it away from Netflix  —  One of Netflix's most-watched titles will move to Disney+ in 2027  —  Walt Disney Co. has secured the exclusive streaming rights …
Max Tani / Semafor:
Bloomberg renamed its DEI team as the HR Inclusion team; editor John Micklethwait says its efforts will no longer specifically focus on underrepresented groups  —  THE SCOOP  —  Bloomberg editor John Micklethwait has told his newsroom the company is changing its inclusion efforts …
Callie Holtermann / New York Times:
A look at the Ditch Weekly, a newspaper run by 20 teenagers and covering Montauk, New York, with a goal to distribute 2,000 copies a week through Labor Day  —  From left, Teddy Rattray, Harry Karoussos and Billy Stern of The Ditch Weekly.  Billy started the newspaper with Teddy and his cousin Ellis …
Bloomberg:
Filing: Tencent is buying a ~10% stake in SM Entertainment for ~$180M from BTS agency Hybe, as China is expected to lift its unofficial ban on K-pop concerts  —  Tencent Holdings Ltd. is snapping up a nearly 10% stake in SM Entertainment Co. Ltd valued at about $180 million …
Financial Times:
JioHotstar grew its subscriber base from 50M in March 2025 to 280M+ in May, driven by IPL cricket streams, nearing Netflix's global subscriber count of 300M  —  Subscriptions soar as JioStar consolidates rights for world's richest league in sport-mad nation  —  Krishn Kaushik and Chris Kay in Mumbai
Alexios Mantzarlis / Indicator:
The top contributor to X's Community Notes is Web3 Antivirus, a startup that uses an automated process to flag crypto scam posts and has posted 52,000 times  —  I thought someone was gaming X's crowdsourced moderation; instead, they appear to be helping clean up the platform's mess for free.
Emma Goldberg / New York Times:
A profile of Sam Freedman, who taught book writing at Columbia Journalism School for 35 years, leading to 113 book contracts and 95 books out of ~675 students  —  For three decades at Columbia Journalism School, Sam Freedman has encouraged students to try long-form narratives.
Ray Schultz / MediaPost:
The Washington Post Tech Guild plans to pursue its first collective bargaining agreement with the company following a vote of 171-38 to establish the union  —  The Washington Post Tech Guild will pursue its first collective bargaining agreement with the company following a vote of 171-38 …
 
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 More News: 
Dominic Ponsford / Press Gazette:
Docs: The Guardian reports revenue up 6.7% YoY to £275M in the year to March 2025, losses down to <£25M, digital revenue up 20%+ YoY to £100M+, and 1.3M subs
Discussion: Telegraph
Abram Brown / The Information:
A look at The Technology Brothers Podcast Network, a daily tech news talk show that has captured the attention of Silicon Valley's investors and founders
 Earlier Picks: 
Hillel Aron / Courthouse News Service:
An Amazonian tribe sues The New York Times, TMZ, and Yahoo for $180M over defamation and more, claiming a viral 2024 NYT story smeared members as porn addicts
Allison Johnson / The Verge:
Despite Google's guardrails, Veo 3 users are generating realistic clips of news, disasters, and fictional events, some with dialogue not included in the prompt
Benjamin Lindsay / The Wrap:
WaPo faces criticism for publishing a column asking “where Jews belong”, which many saw as antisemitic, after killings of two Israeli Embassy staffers in DC
David Bauder / Associated Press:
Defense Secretary Pete Hegseth orders additional press restrictions at the Pentagon, including banning reporters from certain areas without government escorts
 

 
From Techmeme:

Kif Leswing / CNBC:
Apple says general counsel Kate Adams and policy chief Lisa Jackson will retire, and Jennifer Newstead, Meta's former chief legal officer, will replace Adams

Kurt Wagner / Bloomberg:
Sources: Meta is considering deep budget cuts to its metaverse efforts in 2026, potentially as high as 30% and most likely including layoffs as early as January

Will Oremus / Washington Post:
Two studies suggest AI chatbots can shift political views more effectively than TV campaign ads, especially by presenting many claims, regardless of accuracy
 
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