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5:35 PM ET, July 2, 2020

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 Top News: 
Judd Legum / Popular Information:
Facebook says it now finds that there is an undisclosed financial relationship between The Daily Wire and Mad World News and will temporarily demote the latter  —  The Daily Wire's Ben Shapiro (Photo by Rich Polk/Getty Images for Politicon)  —  Facebook has concluded there is an undisclosed …
Jack Shafer / Politico:
Companies have little to lose from joining a Facebook boycott during a slow month for ads amid a pandemic; they'll be back, and Facebook will emerge stronger  —  Every day, it seems, another major corporation joins the advertiser boycott against Facebook.  First came The North Face, REI and Patagonia.
RELATED:
CNN:
Of the top 25 Facebook advertisers in 2019, which include Uber and Netflix, only three, Microsoft, Starbucks, and Pfizer, have said they are pausing ad spending
Reuters:
400+ advertisers suspend Facebook ads for a month, as sources say talks with some advertisers broke down; Zuckerberg has agreed to meet with boycott organizers
Robert Channick / Chicago Tribune:
Tribune Publishing adds Alden Global Capital's co-founder, Randall Smith, to board, giving Alden 3 of 7 seats, and caps Alden's stake at 33% for another year  —  Tribune Publishing has struck a deal with its largest shareholder, Alden Global Capital, that adds the hedge fund's co-founder …
Maiysha Kai / The Glow Up:
Following the publication of an open letter alleging mistreatment, misconduct, and mismanagement at Essence, the outlet names Caroline Wanga interim CEO  —  The pioneering and still most prominent media brand for Black women will once again have one at the helm—at least, for the immediate future.
Tom Dotan / The Information:
Reuters has told employees that it is planning on putting many of its articles behind a subscription paywall  —  Reuters is planning on putting many of its articles behind a subscription paywall, the news service told employees.  Reuters would become one of the last free news services …
Discussion: @cityofthetown
J. Clara Chan / The Wrap:
LA Times food editor Peter Meehan has resigned after a series of tweets on Monday alleged that he fostered an abusive workplace environment for his staff  —  The Los Angeles Times' food editor, Peter Meehan, has resigned from the paper after being accused on social media of fostering an abusive work environment for his employees.
Jim Waterson / The Guardian:
The BBC is laying off 450 people, representing a sixth of BBC England staff, to save £25M, per NUJ, and axing regional news show Inside Out  —  Well-known local presenters to lose jobs and concerns raised about news quality  —  The BBC is to make 450 staff working on its regional programmes …
Hilary Lewis / Hollywood Reporter:
Walmart will convert 160 parking lots into drive-in movie theaters with film programming by Tribeca Enterprises from August to October  —  The retailer will transform its store parking lots into contact-free movie theaters, allowing viewers to have a socially distanced big-screen experience amid the coronavirus pandemic.
 
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 More News: 
Manish Singh / TechCrunch:
Facebook says it is shutting down Lasso, its TikTok clone launched a year and a half ago, on July 10
 Earlier Picks: 
Sara Fischer / Axios:
Twitter removed a picture from a Trump tweet after receiving a DMCA complaint from the NYT, which owns the rights to the photo taken in 2015 by Damon Winter
New York Times:
NY appellate judge rules that Simon & Schuster can go ahead with publishing Mary Trump's book, reversing a lower court that had temporarily halted publication
Alex Sherman / CNBC:
NBCUniversal's Peacock strikes a non-exclusive licensing deal for ViacomCBS movies and TV shows, including The Godfather Trilogy and Undercover Boss
Alex Weprin / Hollywood Reporter:
Fox News says it has fired America's Newsroom anchor and former chief White House correspondent Ed Henry over sexual misconduct claims