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11:40 AM ET, October 29, 2025

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 Top News: 
Emma G. Fitzsimmons / New York Times:
The Times of London takes down a story about former NYC Mayor Bill de Blasio criticizing Zohran Mamdani, after de Blasio says the outlet fabricated his comments  —  The former New York City mayor said comments attributed to him about Zohran Mamdani, reported in The Times of London on Tuesday, were fabricated.
RELATED:
Todd Spangler / Variety:
Paramount Skydance lays off ~1,000 staff, mostly in the US; in a memo, David Ellison says the cuts “are necessary to position Paramount for long-term success”  —  Paramount Skydance, aiming to get leaner and meaner, today is laying off about 1,000 employees, mostly in the U.S. David Ellison …
RELATED:
Los Angeles Times:
Sources: Paramount layoffs will affect CBS, CBS News, and cable channels including MTV and Comedy Central  —  - Paramount began laying off 1,000 workers this week with another 1,000 planned later on as new owners pursue $2 billion in expense cuts across the company.
Hanaa' Tameez / Nieman Lab:
RISJ survey across 24 countries: news creators and influencers gain more attention in countries with struggling traditional media and high social media usage  —  A new report highlights how “messy, fragmented, and loosely defined news sources have become for many people.”
Winston Cho / The Hollywood Reporter:
A US judge turns down Dr. Phil's bid to proceed under Chapter 11 bankruptcy for his media startup Merit Street and converts the case to a Chapter 7 liquidation  —  A court determined that the TV host improperly filed for Chapter 11 bankruptcy to protect his own interests, with the intention of paying certain creditors over others.
The Hollywood Reporter:
Sources detail how Paramount's Taylor Sheridan partnership fell apart, even as NBCU's Donna Langley courted him; Paramount never made an offer to retain him  —  David Ellison has the deepest pockets in Hollywood.  Sheridan has the best track record in streaming.  Why the most obvious deal in TV didn't happen.
Olivia Poh / Bloomberg:
Publicis agrees to acquire Singapore-based Hepmil Media Group, which works with 3K+ creators to make memes and content for 450+ brands, for an undisclosed sum  —  Advertising giant Publicis Groupe SA agreed to buy Singapore's Hepmil Media Group to bolster its social-media expertise in Southeast Asia's rapidly growing online market.
 
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 More News: 
Trishla Ostwal / Adweek:
Some ad buyers say brands are increasingly spending on Reddit due to the site's prominence in AI-powered search results and its growing audience
Winston Cho / The Hollywood Reporter:
Paramount signs a 10-year lease for 285K+ square feet at 1888 Studios in Bayonne, NJ, making it eligible for tax credits of up to 40% for movies and TV shows
Emma Roth / The Verge:
YouTube will age-restrict more video game content showing “graphic violence” and stop creators from directing users to gambling sites involving digital goods
American Journalism Project:
The American Journalism Project invests $3.5M into three nonprofit local news outlets: Cardinal News in Virginia, Honolulu Civil Beat, and the Nashville Banner
 Earlier Picks: 
Alice Brooker / Press Gazette:
Immediate Media's Olive magazine relaunches as a 148-page “bookazine”, with eight issues per year for £8.99 each, as it broadens its editorial focus beyond food
Ben Fritz / Wall Street Journal:
Ex-Disney executive Sean Bailey launches B5 Studios, backed by RedBird, to use AI, video game engines, and other tech to produce content faster and more cheaply
Discussion: The Wrap and Deadline
 

 
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

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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