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.
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:
The Wrap, Reuters, TVNewsCheck and The Hollywood Reporter
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 — The executives who will lead the entertainment company will receive salaries of $3.5 million, as well as annual bonuses and stock.
Discussion:
Paramount Skydance, Variety, The Wrap, Deadline and @edgarallandoh.bsky.social
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:
PRWeek, MediaCat UK, Reuters, PRWeek, PRWeek, The Times, Wall Street Journal, The Standard, The Economic Times, Telegraph, WPP, City A.M., The Guardian and Adweek
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:
Sony Group Corporation, Sony Group Corporation, Variety and Deadline
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Sara Fischer / Axios:
Vice Media raises $75M in a credit facility with Western Alliance Bank to support Vice Studios; Vice co-owner Fortress is also contributing an equity investment — Vice Media has raised $75 million in the form of a credit facility with Western Alliance Bank to support the growth of Vice Studios …
Discussion:
Deadline
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.
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, @msmitham.bsky.social, @aigiturgunbaeva and 24.kg
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:
TechCrunch, WeRSM, @dannygroner.bsky.social, Engadget, PYMNTS.com, Business Insider and The Information
Matthew Keys / TheDesk.net:
Nexstar reports Q2 revenue down 3% YoY to $1.23B, primarily due to reduced political ad revenue in a US non-election year, and net income down 14% YoY to $91M — Key Points: — Nexstar reported $1.23 billion in Q2 revenue, down 3.2% on a year-over basis due to lower political ad spending in a non-election year.
Discussion:
Radio & Television …, TVNewsCheck, Variety and Nexstar
Kenneth Li / Reuters:
Thomson Reuters reports Reuters News Q2 revenue up 5% YoY to $218M, driven by its agency and professional business and a contractual price increase from LSEG — Thomson Reuters (TRI.TO) reported higher revenue for the second quarter, during which it launched new AI features in its tax and accounting and legal divisions.
Discussion:
Press Gazette, Thomson Reuters, Yahoo Finance, Canadian Press, Insider Monkey, Globe and Mail, Talking Biz News, Sherwood News, Benzinga and MarketWatch
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.
Discussion:
Fast Company, TVNewsCheck and PBS North Carolina
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