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2:00 AM ET, July 20, 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, Variety, @senadamschiff, YouTube, Adweek, Variety, New York Times, Variety, Associated Press, Arizona Republic, Craig Leddy on LinkedIn, Nicki Swift, The One and Only Jacob Knuth, Nancy Lu on LinkedIn, The Gateway Pundit, Reuters, @kimberleyjohnson.bsky.social, Awful Announcing, BusinessLIVE, Celebrity Insider, Informed Comment, @jeremymbarr, New York Sun, @pkafka, @edmundlee, Cele|bitchy, Us Weekly, Mediaweek, New Jersey Online, Billboard, National Enquirer, CBS News, Real Patriotism …, Esquire, TV Tonight, Daily Caller News Foundation, Breitbart, @bristei.bsky.social, masslive.com, The Hollywood Reporter, @wjcarter, @mossbergwalt@threads.com, TheGrio, The Washington Free Beacon, Decider, Jay Coen Gilbert on LinkedIn, Steven Hassan, PhD on LinkedIn, Plain Dealer, Full Feed, LateNighter, The Wrap, @chrislhayes.bsky.social, The Independent, Global News, The Hollywood Reporter, @maxwelltani, Forbes, PJ Media, WXIA-TV, @heerjeet, @adamsteinbaugh, @niemanlab.org, @karrieurbanist.bsky.social, @junkboxjim.bsky.social, @bigdgrandroyal.bsky.social, @kentremendous.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.
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 …
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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.
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
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.
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
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.)
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
Ben Fritz / Wall Street Journal:
How YouTube became the most-watched video provider on TVs in the US, with creator content tailored for family and group viewing and app features enhanced for TV  —  A generation that grew up watching YouTubers on tablets and phones have migrated to TVs, and Hollywood is losing ground
Discussion: Tubefilter
 
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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
 

 
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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