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12:20 PM ET, October 31, 2025

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 Top News: 
Reuters:
Sources: Netflix is exploring a bid for WBD's studio and streaming business and has tapped investment bank Moelis & Co to evaluate a prospective offer  —  - Netflix hires Moelis & Co for Warner Bros Discovery bid evaluation  — Sarandos confirms no interest in legacy media networks like CNN
RELATED:
John Melloy / CNBC:
Netflix announces a 10-for-1 stock split, after its shares boomed over the last three years to above $1,000 a share  —  Netflix announced a 10-for-1 stock split, a move that changes nothing fundamentally about the company, but could make the pricey individual shares more accessible to the retail investor.
Variety:
Sources: Gayle King, who has anchored CBS News' morning show for over a decade, is expected to leave the program next year; her existing contract expires in May  —  Mainstay of network's morning show may shift to different role as contract expiration approaches in May
Ben Schoon / 9to5Google:
Disney networks including ABC and ESPN go dark on YouTube TV after the two sides failed to reach a new carriage deal  —  YouTube TV customers have lost access to ABC, ESPN, and other Disney-owned channels this evening as a contract between Google and Disney failed to reach a renewal in negotiations …
Loree Seitz / The Wrap:
Apple reports Q4 revenue from Services, which includes the App Store, Apple Pay, Apple TV, Apple Music, and iCloud, up 15% YoY to $28.75B, vs. $28.17B est.  —  Services revenue grew 15% in the period, outpacing iPhone sales  —  Apple posted fiscal fourth-quarter earnings and revenue …
Lucas Manfredi / The Wrap:
Amazon reports Q3 ad revenue up 24% YoY to $17.7B and subscription services revenue up 11% YoY to $12.6B  —  Sales for subscription services, which includes Prime Video, grew 11% to $12.6 billion during the quarter  —  Amazon shares surged 9% on Thursday as the tech giant smashed Wall Street expectations …
Justin Baragona / The Independent:
CBS has cut two streaming shows, disbanded its race and culture unit, eliminated the Johannesburg bureau; all eight on-air correspondents cut were women  —  EXCLUSIVE: Multiple sources told The Independent that senior foreign correspondent Debora Patta was added to the layoff list following …
Jonathan Vanian / CNBC:
Reddit reports Q3 revenue up 68% YoY to $585M, vs. $546M est., and daily active uniques up 19% to 116M, vs. 114M est.; RDDT jumps 5%+ after hours  —  Reddit reported third-quarter earnings on Thursday in which the company beat on the top and bottom, but the company saw its user growth for logged-in users slow down once again.
David Folkenflik / NPR:
A federal judge sets a December date for a bench trial in NPR's lawsuit claiming the CPB yanked away a planned $36M contract under intense White House pressure  —  NPR's lawsuit against its decades-long partner, the Corporation for Public Broadcasting, is headed for trial in December, a federal judge ruled Thursday.
 
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 More News: 
Peter White / Deadline:
Rolling Stone is turning the Rolling Stone Interview into a video podcast series, starting with Florence + The Machine's Florence Welch
Discussion: Billboard
Bill Grueskin / @bgrueskin.bsky.social:
Trump Media & Technology drops its $1.5B defamation lawsuit filed in 2023 against 20+ media outlets for misreporting that Truth Social lost $73M in 2023
Amanda Meade / The Guardian:
Siobhan McKenna, News Corp's Australian broadcasting chief, is leaving in Q4; she was Lachlan Murdoch's top adviser, including for the family trust case
 Earlier Picks: 
Todd Spangler / Variety:
Roku beats expectations with Q3 net income of $24.8M, vs. a net loss of $35.8M a year ago, and revenue of $1.21B, up 14% YoY; total streaming hours rose 12% YoY
 

 
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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