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8:00 AM ET, August 7, 2025

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 Top News: 
Abid Rahman / The Hollywood Reporter:
Sony Pictures reports Q1 revenue up 4% YoY to ~$2.26B, operating income up 76% YoY to $129M, and motion pictures unit revenue down 13% YoY to $742M  —  The studio's releases in the period included ‘28 Years Later’ and ‘Karate Kid: Legends.’ … SPE comprises the motion pictures division, television productions and media networks.
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Glenn Peoples / Billboard:
Sony Music reports Q1 revenue up 5.3% YoY to $3.22B, operating income up 8% YoY to $641.8M, and USD-denominated streaming revenue up 7.3% YoY to $1.36B  —  Gains from streaming services in both recorded music and publishing pushed Sony Music's consolidated revenue up 5.3% …
Lillian Rizzo / CNBC:
Disney plans to launch its new flagship sports streaming service ESPN on August 21 for $29.99 per month or $35.99 per month when bundled with Disney+ and Hulu  —  ESPN will launch its new flagship streaming service — also named ESPN — on August 21.  —  Disney's ESPN has been working …
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Todd Spangler / Variety:
Disney says it will no longer report paid subscribers or average revenue per unit for ESPN+ as of its Q4 2025 and for Disney+ and Hulu as of its Q1 2026
Alex Sherman / CNBC:
ESPN signs a deal to show the WWE's biggest live events, including WrestleMania, from 2026; sources say ESPN will pay $325M on average per year for five years
Mike Florio / NBCSports.com:
The ESPN-NFL deal will require US regulatory approval, giving President Trump the kind of leverage he seemingly exercised in the 60 Minutes settlement
Jill Goldsmith / Deadline:
Disney reports Q3 revenue up 2% YoY to $23.7B, operating income up 8% YoY to $4.6B, streaming revenue of $6.2B, profit of $346M; Disney+ and Hulu hit 183M subs
Glenn Kessler / By Glenn Kessler:
Glenn Kessler likens working at WaPo now to the Titanic, sinking and aimless under Will Lewis, who asked Kessler for advice on attracting Fox News viewers  —  “Democracy Dies in Darkness” — but what if the lights are going out from within?  —  My decision to leave The Washington Post …
Laura Hazard Owen / Nieman Lab:
Report for America says for 2024-25, 55% of the 181 reporters in the program were hired into permanent positions; since 2018, RFA has placed 759 corps members  —  Eight years after Report for America launched, its graduates are more often than not accepting permanent positions in their newsrooms.
Discussion: Report for America
Harshita Mary Varghese / Reuters:
WBD reports Q2 revenue up 1% YoY to $9.81B, vs. $9.76B est., boosted by the HBO Max expansion and blockbuster hits, and subscribers up 3.4M QoQ, vs. 2.71M est.  —  Warner Bros Discovery (WBD.O) topped Wall Street estimates for quarterly revenue on Thursday, boosted by the international expansion …
Julian Wyllie / Current:
PBS North Carolina says it will offer voluntary buyouts as it anticipates an annual loss of $4.8M in federal funding and may also lose $4M in state funding  —  PBS North Carolina announced Tuesday that it will offer voluntary buyouts to staff due to an anticipated revenue shortfall caused by the loss of federal funding.
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Liz Reid / The Keyword:
Google says total organic click volume from Search to websites is “relatively stable year-over-year” and it is sending “slightly more quality clicks” than 2024  —  We continue to send billions of clicks to the web every day and are committed to prioritizing the web in our AI experiences in Search.
Dan Cepeda / Oil City News:
News Media Corporation says it will cease operations effective immediately, citing financial challenges; NMC operated local newspapers in five US states  —  CASPER, Wyo. — Around 11 communities in Wyoming have lost their local newspapers after the sudden closure of their parent company.
Todd Spangler / Variety:
Disney says it is “fully integrating” Hulu into Disney+, plans to launch a “unified” Disney+ and Hulu app in 2026 and migrate Hulu's live TV subscribers to Fubo  —  Hulu will replace the Star brand on Disney+ internationally this fall
RELATED:
Winston Cho / The Hollywood Reporter:
Universal Pictures has started adding a legal warning at the end credits of its films stating that their titles “may not be used to train AI”  —  The studio is getting more aggressive about protecting its films from companies pirating them.  —  Universal Pictures is taking …
 
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Katie Robertson / New York Times:
The New York Times reports 11.88M subscribers in Q2, total revenue up 9.7% YoY to $685.9M, and adjusted operating profit up 28% to $133.8M; NYT closes up 15.5%
Charlotte Tobitt / Press Gazette:
Resilience Media, which aims to be the defense tech industry's “publication of record”, adds several ex-TechCrunch staff, including Ingrid Lunden and Matt Burns
Discussion: Resilience Media
 

 
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

A.J. Vicens / Reuters:
US and Canadian authorities warn that Chinese hackers are using the Brickstorm malware to install backdoor access within unnamed government and IT entities
 
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