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6:35 PM ET, July 18, 2025

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 Top News: 
Dan Mangan / CNBC:
Trump files a libel lawsuit against Rupert Murdoch, Dow Jones, and WSJ reporters who wrote an article saying that Trump sent Jeffrey Epstein a “bawdy” letter  —  President Donald Trump on Friday followed through on his threat to sue media mogul Rupert Murdoch …
NBC News:
The US House passes a Senate-approved bill to strip $1.1B from the CPB, hitting 1,500 local stations, PBS, and NPR; it now awaits President Trump's approval  —  The $9 billion package passed the House and the Senate with only Republican votes through the rarely used “rescissions” process.
Discussion: @realDonaldTrump …, NPR, Fox News, The Guardian, Knight First Amendment …, New York Times, Yellowhammer News, TheDesk.net, Orlando Sentinel, Newsbusters, Animation Magazine, Breitbart, MSNBC, @mcpli.bsky.social, The Daily Signal, Tim Isgitt on LinkedIn, @budzinski.house.gov, Free Press Action Fund Feed, Mediaite, @brianstelter, NewsMax.com, @firstsquawk, @tylerborchers.com, @geoffrbennett, Daily Caller News Foundation, @maxwelltani, @karrieurbanist.bsky.social, FOX 13 Tampa Bay, Must Read Alaska, Le·gal In·sur·rec·tion, @davidfolkenflik, @TCatInReality@mastodon.social, Radio & Television …, TVNewsCheck, New York Times, Time, USA Today, Forbes, @joffirphd.bsky.social, @brianstelter, @benmullin, @marshablackburn, The Wrap, @4nsmiley.bsky.social, @sahilkapur.bsky.social, MPR News, Newser, twitchy.com, Reason, The Wrap, Ars Technica, @hansilowang.bsky.social, Lila Hassan on LinkedIn, ABC News, al.com, Free Press Action Fund Feed, Bloomberg, The Hill, Werd I/O, Cord Cutters News, @bera.house.gov, Inside Radio, @sanwil.bsky.social, Consequence, Breitbart, @lmcgaughy.bsky.social, @cbcstephenquinn.bsky.social, The Post Millennial, @stacykess.bsky.social, The Movie Blog, @davidakaye.bsky.social, Digital Music News, Jim Friedlich on LinkedIn, SFist, Krishan Arora on LinkedIn, @rickstengel.bsky.social, The Free Press, National Review, Salt Lake Tribune, Barrett Media, Deseret News, @jewishdems.bsky.social, Financial Times, @indivcentraloh.bsky.social and Variety
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Jim Rutenberg / New York Times:
A look at GOP efforts to cut NPR and PBS funding, dating back to Nixon; the cuts succeeded now due to Trump's grip on the GOP and the increase in media sources  —  They tried under Ronald Reagan and George H.W. Bush and George W. Bush.  Newt Gingrich gave it a go when he controlled the House …
Ethan Beck / Washington Post:
CPB's funding rescission threatens indie musicians and public radio stations that play indie music as CPB covers music licensing fees, costing ~$20M per year  —  If the rescission bill passes, $1.1 billion of funding will be cut from the Corporation for Public Broadcasting, limiting public radio's ability to license music.
New York Times:
A map of areas at risk of losing public radio and TV access due to CPB cuts and a chart of the average share of station funding from federal sources by state  —  President Trump's proposal to eliminate federal funding for public broadcasters threatens scores of radio and TV stations across …
Peter White / Deadline:
CBS says The Late Show with Stephen Colbert is ending in May 2026 and that this was “purely a financial decision against a challenging backdrop in late night”  —  In a shocking move, The Late Show with Stephen Colbert will end in May.  —  “The Late Show With Stephen Colbert …
Discussion: Variety, @realDonaldTrump …, YouTube, Variety, @senadamschiff, New York Times, Variety, Associated Press, NBC News, Forbes, New Jersey Online, CBS News, The A.V. Club, Associated Press, National Enquirer, CNN, @jeremymbarr, Fox News, The Hollywood Reporter, The Contrarian, Breitbart, Al Jazeera, Esquire, Townhall, HotAir, The Washington Free Beacon, Plain Dealer, Real Patriotism …, The Wrap, Le·gal In·sur·rec·tion, TVLine, @niemanlab.org, @wjcarter, The Independent, Cord Cutters News, Decider, MediaPost, @bristei.bsky.social, Global News, Washington Monthly, Washington Post, TV Insider, Page Six, Straight Arrow News, TV Tonight, Jay Coen Gilbert on LinkedIn, Hollywood Life, Raw Story, @chrislhayes.bsky.social, PJ Media, Steven Hassan, PhD on LinkedIn, LateNighter, The Guardian, WXIA-TV, @edmundlee, @mossbergwalt@threads.com, @pkafka, Full Feed, Screen Rant, @karrieurbanist.bsky.social, That Park Place, Mashable, TheGrio, @maxwelltani, New York Post, Suggest, USA Today, @heerjeet, @adamsteinbaugh, @junkboxjim.bsky.social, WORLD SCREEN, al.com, Us Weekly, NewsMax.com, Rolling Stone, @kentremendous.bsky.social, @bigdgrandroyal.bsky.social, Digital Music News, RADAR, Instapundit, Gamereactor UK, Business Insider, Alex Kruglov on LinkedIn, Pitchfork, Washington Examiner, San Francisco Examiner, PennLive, @robwarrior.bsky.social, Brian Steinberg on LinkedIn, HuffPost, @luckytran.com, @mjfree.bsky.social, @brunojnavarro.bsky.social, @ryanlcooper.com, @fieldsmeyer.com, @bencollins.bsky.social, @jeffjarvis@mastodon.social, @echamp.bsky.social, @roxanegay.bsky.social, @jdesmarteau.com, @emilynussbaum.bsky.social, @markjacob.bsky.social, @paleofuture.bsky.social, CNN, The Wrap, Reuters, @paleofuture.bsky.social and TVLine
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Peter White / Deadline:
The WGA says The Late Show's cancellation is a “bribe” as Paramount seeks merger approval and calls for NY State AG Letitia James to launch an investigation  —  The Writers Guild of America has slammed Paramount's decision to cancel The Late Show with Stephen Colbert.
Alan Sepinwall / Rolling Stone:
The Late Show's cancellation is both a quid pro quo to get FCC approval for the Skydance merger and the beginning of the end for the late night format  —  Yes, the long reign of late-night has been coming to a slow end due to the internet, but don't be fooled: There's much more than money at the root of this show's demise
Matthew Belloni / Puck:
Canceling The Late Show With Stephen Colbert makes sense from a business perspective as the show costs $100M+ per year to produce while losing $40M+ per year  —  As Paramount prepares to remake itself, David Rhodes has emerged as a likely successor at CBS News, possibly advised by Bari Weiss.
Mark Sweney / The Guardian:
Ted Sarandos says The Eternaut featured the first GenAI final footage in a Netflix original and that the VFX costs would have been too high otherwise  —  Firm says technology used in El Eternauta is chance ‘to help creators make films and series better, not just cheaper’
RELATED:
Sarah Whitten / CNBC:
Netflix reports Q2 revenue up 16% YoY to $11.08B, vs. $11.07B est., net income of $3.13B, and forecasts 2025 revenue of $44.8B-$45.2B, up from $43.5B-$44.5B
Emma Roth / The Verge:
Netflix says it's on track to double its advertising revenue this year and that it will roll out interactive ads in the second half of 2025
Zac Bowden / Windows Central:
Microsoft shuts down the Movies & TV storefront on the Microsoft Store on Windows and Xbox; users will continue to be able to access their past purchases  —  After 12 years, Microsoft is shutting down its storefront that let Windows and Xbox users buy or rent Movies & TV shows natively on the platform.
Jonathan Stempel / Reuters:
A federal judge dismisses Trump's ~$50M 2023 lawsuit against Bob Woodward for publishing tapes from interviews for his 2020 book Rage as an audiobook  —  Donald Trump cannot pursue his nearly $50 million lawsuit against the journalist Bob Woodward for publishing tapes from interviews for his 2020 best-seller …
Discussion: Bloomberg
 
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 More News: 
Reuters:
Report: David Rhodes, Sky News executive chairman and former CBS News president, is in talks to lead CBS News if the Skydance/Paramount merger goes through
Josef Adalian / Vulture:
Peacock will raise prices by $3 per month for new users starting July 23 and test a $7.99/month ad-supported “Select” tier without sports and some other content
 Earlier Picks: 
Financial Times:
Sources: former Goldman Sachs banker Simon Dingemans and former Sainsbury's CEO Justin King are among those on a shortlist to chair Channel 4
Brian Steinberg / Variety:
CNBC names David Cho, most recently the EIC of Barron's, as its EIC, replacing both Dan Colarusso and Jay Yarow, ahead of CNBC's planned spin-off into Versant
Alex Weprin / The Hollywood Reporter:
Barstool Sports signs a “wide ranging” deal with Fox Sports, with Dave Portnoy and other Barstool personalities joining Fox's college football coverage
 

 
From Techmeme:

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

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

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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