Top News:
Brian Stelter / CNN:
Paramount Skydance CEO David Ellison visited CBS News early Thursday, expressing admiration for the news division and acknowledging recent stresses — Control of Paramount, the legendary but troubled TV and movie maker, shifted to Silicon Valley scion David Ellison on Thursday …
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New York Times:
Paramount and Skydance's $8B merger closes, giving Paramount stronger financial wherewithal and ending a tortuous process that has lasted well over a year — The merger catapults new power players to the top of Hollywood and ends a tortuous process that has lasted well over a year.
Discussion:
Paramount Skydance Corporation, The Wrap, Fox Business, The Independent, The Verge, Associated Press, IndieWire, Scotty Eagleton on LinkedIn, @dylanbyers, Sports Business Journal, Screen, @benmullin, TMZ.com, Yvette Moyo on LinkedIn, Mediaite, The Streamable, TheDesk.net, Variety, Reuters, Business Insider and Yahoo Finance
Jill Goldsmith / Deadline:
Paramount CEO David Ellison outlines the new company's plans, including a reorganization into three business units: Studios, Direct-to-Consumer, and TV Media — David Ellison formally introduced himself to the industry and Wall Street as chairman CEO of the new Paramount in a letter posted …
Discussion:
Variety, The Wrap, Reuters and TVNewsCheck
Erik Hayden / The Hollywood Reporter:
In a press conference, Paramount Skydance execs emphasize better tech, deflect questions on recent controversies, and put off layoff questions until November — “We're ready to move past the noise,” the CEO said, despite the lobbed questions geared toward Trump, ‘60 Minutes’ independence …
Discussion:
Deadline, The Guardian, Business Insider, Deadline and Deadline
Alex Weprin / The Hollywood Reporter:
SEC filing: Paramount Skydance CEO David Ellison and President Jeff Shell will get paid no less than $3.5M per year and have bonus targets of $1.5M per year
Discussion:
Paramount Skydance, TVNewsCheck, Variety, Los Angeles Times, Deadline, @edgarallandoh.bsky.social, The Wrap and Variety
Katcy Stephan / Variety:
Disney and Lucasfilm settle with Gina Carano, who sued for discrimination over her firing from The Mandalorian after she shared controversial social media posts — Lucasfilm and the Walt Disney Company have reached a mutual agreement in their legal dispute with Gina Carano following her firing from “The Mandalorian.”
Discussion:
The Hollywood Reporter, Screen Rant, The Wrap, TVLine, Deadline, Gizmodo, Reclaim The Net, Bleeding Cool News, Cord Cutters News, Full Feed and The Post Millennial
Angie Orellana Hernandez / Washington Post:
Stanford's student newspaper and two former students sue the Trump administration, saying arrests and deportation attempts against students hinder free speech — The lawsuit challenges Secretary of State Marco Rubio's ability to revoke student visas and deem an individual deportable based on the content of their speech.
Kieran Smith / Financial Times:
WPP reports H1 2025 operating profit down 48% YoY to £221M and halves its interim dividend ahead of a strategic review, weeks after cutting its FY 2025 guidance — Shares hit 16-year low as interim operating profits plunge 48% for first half — WPP halved its interim dividend …
Discussion:
Wall Street Journal, PRWeek, The Economic Times, Telegraph, PRWeek, WPP, The Guardian, Reuters, MediaCat UK, The Times, Adweek, City A.M. and The Standard
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 …
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.
Discussion:
Sherwood News, Sony Group Corporation, Sony Group Corporation, Variety and Deadline
RELATED:
Janko Roettgers / The Verge:
Sources detail Google's struggles to monetize Google TV, which has been costing the company hundreds of millions of dollars annually and has yet to break even — Losing money and internal support, Google TV is feeling the heat. … Last year, Google surprised online video publishers …
Discussion:
Janko Roettgers on LinkedIn and Android Headlines, more at Techmeme »
Francesca Ebel / Washington Post:
Mzia Amaghlobeli, a prominent independent journalist in the country of Georgia, was sentenced to two years in prison for slapping a police officer at a protest — Mzia Amaghlobeli, the founder of two media outlets, had slapped a police officer at an anti-government protest …
Hannah Murphy / Financial Times:
In a live discussion on X, Elon Musk tells advertisers that X plans to introduce advertising into Grok's answers — Billionaire owner outlines plans to improve advertising on social media platform in rare overture to marketers — Elon Musk plans to introduce advertising into the answers …
Discussion:
Adweek, MediaPost, TechCrunch, Engadget, WeRSM, PYMNTS.com, @viraldonutz.bsky.social, @dannygroner.bsky.social, Business Insider and The Information
Reuters:
Kyrgyzstan enacts a law requiring media to register with authorities and limiting foreign ownership to 35%, after approving penalties for “false information” — Kyrgyz President Sadyr Japarov has signed a controversial media law that expands government control over independent outlets …
Discussion:
@msmitham.bsky.social, @aigiturgunbaeva, 24.kg and @msmitham.bsky.social
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