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2:00 PM ET, April 22, 2020


 Top News: 
Jim VandeHei / Axios:
Axios says it qualified for a PPP loan “just shy of $5M” as it is both a media company and a small business with a national presence  —  Axios is among the small businesses that qualified for a PPP loan to protect existing jobs and help weather the coronavirus crisis.
Paul Roberts / The Seattle Times:
The Seattle Times Co. says it has received a $9.9M Payroll Protection Program loan  —  The Seattle Times Co. has received a $9.9 million federal coronavirus-aid loan that will give the newspaper temporary relief in the face of a sharp drop in advertising revenue due to the COVID-19 pandemic.
Maxwell Tani / The Daily Beast:
Wired staff announce plans to unionize with the NewsGuild of New York, as Condé Nast plans deep cuts amid the economic downturn  —  Magazine staff have laid the groundwork to unionize for more than a year, but as the coronavirus shut down parts of the economy, organizers realized they had to make a decision.
Todd Spangler / Variety:
AT&T misses estimates, loses 138K AT&T Now customers and 897K premium TV subscribers in Q1, reports revenues of $42.78B and pulls its annual forecast  —  AT&T missed revenue and earnings estimates for the first quarter of 2020, with a 4.6% top-line decline driven by lower revenue …
Hollywood Reporter:
HBO Max to launch on May 27 for $15 per month with 10,000 hours of programming
Lauren Feiner / CNBC:
Netflix reports Q1 revenue of $5.77B, up 27.6% YoY, vs $5.76B est., global paid net subscriber additions of 15.77M, now totaling 182.86M accounts, up 22.8% YoY  —  - Netflix reported its Q1 2020 earnings after the bell on Tuesday.  — Netflix has ranked among analysts' favorite …
Georg Szalai / Hollywood Reporter:
Netflix CEO Reed Hastings' compensation reached $38.6M in 2019, up about 7% YoY, and chief content officer Ted Sarandos received a package worth $34.7M, up 17%
Discussion: The Wrap and Broadcasting & Cable
Erik Hayden / Hollywood Reporter:
Internal Fox Corp. memo: CEO Lachlan Murdoch will forgo pay through September and around 700 employees will see tiered salary cuts of 15% to 50%  —  Tiered salary cuts of 15 percent to 50 percent will impact other executives at the media giant.  —  Fox Corp. CEO Lachlan Murdoch will forgo …
Rick Edmonds / Poynter:
Tribune Publishing requires most non-union employees earning between $40,000 and $67,000 a year to take three weeks of furloughs in the next three months  —  Tribune Publishing is requiring most non-union employees earning between $40,000 and $67,000 a year to take three weeks of furloughs in the next three months.
Zack Beauchamp / Vox:
Study of Fox News programming from February to early March finds those watching Sean Hannity over Tucker Carlson were less likely to adhere to social distancing  —  Sophisticated new research links Hannity's coronavirus misinformation to “a greater number of Covid-19 cases and deaths.”
Mark Sweney / The Guardian:
Disney co-founder's granddaughter Abigail Disney criticises the company for protecting exec bonuses and dividends of $1.5B+ while cutting pay of 100K+ workers  —  Abigail Disney hits out at executive payouts while staff weather coronavirus impact  —  An heir to the Walt Disney fortune …
Wall Street Journal:
Internal planning document for Vice Media Group lays out the possibility of layoffs of 300+ in digital operations, including cuts at Vice News and Refinery29  —  Planning document calls for over 300 layoffs, though company says several such proposals are being worked up
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 More News: 
Charlotte Tobitt / Press Gazette:
UK's Newsquest launches a metered paywall across all of its daily newspapers, but will keep all COVID-19 content and breaking news stories free to read
Connie Loizos / TechCrunch:
Bustle's former EIC Kate Ward and former SVP Lindsay Mannering launch a “personalized subscription website for TV's biggest fans” called The Dipp
Discussion: @rafat
Alexandra Steigrad / New York Post:
Filing: NBCUniversal sold about half of its stake, worth ~$178M, in Peloton; Peloton shares are up more than 50% since mid-March because of the pandemic
Lucas Shaw / Bloomberg:
After the pandemic shut down live music venues, some artists have turned to sites like Stageit to livestream performances with typical viewers paying around $15
 Earlier Picks: 
Charlotte Tobitt / Press Gazette:
Jewish News to continue publishing after the collapse of the merger with the Jewish Chronicle, which was acquired by a consortium and will go into liquidation
Discussion: The Times of Israel
Snap Inc.:
Snap reports in Q1 DAUs increased 20% YoY to 229M, revenue increased 44% YoY to $462M, time spent watching Discover content rose 35%+
[Thread] Internal memos: Politico lays off 13 at Protocol as it cancels live events through at least Sept. 1, including its presence at political conventions
Mandy Jenkins / The Compass Experiment:
The Compass Experiment, McClatchy and Google's digital local news initiative, plans to launch the Longmont Leader in Colorado in May with a team of five