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3:40 PM ET, July 19, 2025

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 Top News: 
Dan Mangan / CNBC:
Trump files a $10B defamation suit against Rupert Murdoch, Dow Jones, and others after WSJ wrote an article saying Trump sent Jeffrey Epstein a “bawdy” letter  —  President Donald Trump on Friday followed through on his threat to sue media mogul Rupert Murdoch …
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Wall Street Journal:
Dow Jones responds to Trump lawsuit, saying “we have full confidence in the rigor and accuracy of our reporting, and will vigorously defend against any lawsuit”
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
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: @senwarren, @senadamschiff, YouTube, Variety, Awful Announcing, Adweek, Variety, New York Times, Variety, The Gateway Pundit, Associated Press, CNN, Arizona Republic, Craig Leddy on LinkedIn, Nicki Swift, Informed Comment, New York Sun, Nancy Lu on LinkedIn, Celebrity Insider, Reuters, @jeremymbarr, @kimberleyjohnson.bsky.social, @pkafka, Cele|bitchy, @edmundlee, Fortune, Us Weekly, Mediaweek, New Jersey Online, Billboard, CBS News, National Enquirer, Real Patriotism …, Esquire, TV Tonight, Daily Caller News Foundation, Breitbart, @bristei.bsky.social, masslive.com, The Hollywood Reporter, @mossbergwalt@threads.com, TheGrio, The Washington Free Beacon, Decider, Jay Coen Gilbert on LinkedIn, Steven Hassan, PhD on LinkedIn, Plain Dealer, The Hollywood Reporter, Full Feed, LateNighter, @wjcarter, The Wrap, @chrislhayes.bsky.social, The Independent, Global News, Forbes, PJ Media, WXIA-TV, MediaPost, @niemanlab.org, @maxwelltani, @heerjeet, @adamsteinbaugh, @karrieurbanist.bsky.social, @junkboxjim.bsky.social, @kentremendous.bsky.social, @bigdgrandroyal.bsky.social, Alex Kruglov on LinkedIn, @robwarrior.bsky.social, Brian Steinberg on LinkedIn, @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.
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.
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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 …
Charlotte Tobitt / Press Gazette:
Ad-Shield: 976M people globally use ad blockers that block on-site analytics, whitelisted ads, registration walls, and more, up from 590M in 2019  —  Web traffic that cannot be measured, and therefore monetised, by publishers has grown by 49% in the past three years, according to a new report.
Discussion: News/Media Alliance
Ted Johnson / Deadline:
Filing: Skydance CEO David Ellison and FCC Chair Brendan Carr met on July 15 to discuss the Paramount merger and “Skydance's commitment to unbiased journalism”  —  According to a filing with the FCC, Ellison and his legal counsel, Matthew A. Brill, met Tuesday with the FCC officials …
RELATED:
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
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’
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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.
Sophie Culpepper / Nieman Lab:
Why The Houston Landing failed, including the lack of a clear identity, leadership lacking fundraising and nonprofit experience, and trouble generating revenue  —  That research came out of AJP's Local Philanthropy Partnerships program.  (The Houston Endowment and Arnold Ventures are both listed by AJP as local philanthropy partners.)
 
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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
 

 
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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