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1:00 AM ET, August 5, 2020

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 Top News: 
CNBC:
Disney reports $11.78B in Q3 revenue vs. $12.37B est., down 42% YoY, says it has 100M+ paid subs for streaming services including Disney+, Hulu, and ESPN+  —  - Disney reported earnings for its third quarter of 2020 after the bell on Tuesday as it continues to feel the impact of the coronavirus pandemic …
RELATED:
Julia Alexander / The Verge:
Disney's Mulan, originally to be released in March but delayed due to COVID-19, will be released on Disney+ on Sept. 4 as a premium on-demand offering for $30  —  Disney's live-action adaptation gets a new release date  —  Disney's live-action adaptation of Mulan will be released on Disney …
Joan E. Solsman / CNET:
Disney says Disney+ grew to 57.5M subs as of June 27, up from 54.5M three months ago  —  Between Disney Plus, Hulu and ESPN Plus, Disney's streaming services have more than 100 million subscribers combined.  —  Disney Plus grew to 57.5 subscribers as of June 27, up by 3 million in the last three months, Disney said Tuesday.
Julia Alexander / The Verge:
Disney says it plans to launch a general entertainment streaming platform internationally in 2021 under its Star brand, would include content from ABC, FX, more  —  The big question now is what it means for Hulu  —  Disney plans to launch a new general entertainment streaming platform overseas …
Joe Flint / Wall Street Journal:
Sources: NBCU begins layoffs across its portfolio, expected to be less than 10% of staff, and WarnerMedia will start layoffs as early as next week  —  Comcast unit is the latest among entertainment giants, including WarnerMedia, to cut employees in the wake of the coronavirus pandemic
Sara Fischer / Axios:
Bloomberg Media to launch a bundled subscription with The Athletic this month; Athletic journalists will also be featured on Bloomberg's QuickTake  —  Bloomberg Media will launch a bundled subscription with The Athletic beginning this month, sources tell Axios.
Kevin G. Hall / McClatchy Washington Bureau:
A bankruptcy judge has approved the $312M sale of McClatchy to Chatham Asset Management; Pension Benefit Guaranty Corporation will assume McClatchy pension plan  —  A federal bankruptcy judge approved the $312 million sale of McClatchy Co. on Tuesday, officially clearing …
Brian Steinberg / Variety:
Standard Media Index: Q2'2020 US TV ad spend fell 19% YoY and in June it fell 9% YoY to $3.2B, with CNN's ad revenue growing 86% YoY and Fox News' 55% YoY  —  More people continue to watch TV or other forms of video in the midst of the pandemic, but Madison Avenue is spending fewer dollars to dazzle them.
Russell Brandom / The Verge:
Trump has withdrawn the renomination of FCC Commissioner Michael O'Rielly after a senator's objection and O'Rielly's skepticism about Trump's Section 230 order  —  Michael O'Rielly served as FCC commissioner for a full six-year term  —  President Trump has withdrawn the nomination …
Knight Foundation:
49% of Americans see “a great deal” of political bias in news; 82% worry that inaccuracies are intentional; 19% of people under 30 view the media favorably  —  OVERVIEW  —  There is a widening gulf between American aspirations for and assessments of the news media.
i24:
Patreon fails to stop arbitration suits in California by fans of a comedian removed for hate speech, making suits from fans of other banned accounts possible  —  Court sides with fans of controversial content creator, potentially exposing company to further legal trouble A California court sided …
Discussion: @tracybeanz
 
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 More News: 
Eriq Gardner / Hollywood Reporter:
Neil Young sues Trump's campaign for copyright infringement for playing two of Young's songs at rallies, testing rules set by performance rights organizations
Reuters:
China says it will retaliate if the US doesn't extend visas for Chinese journalists; editor of Global Times says US journalists in HK would be targeted
Discussion: Bloomberg
 Earlier Picks: 
Caleb Potts / Android Police:
Facebook adds search feature in WhatsApp to help check viral messages for misinformation, rolling out today in Brazil, Italy, Ireland, Mexico, Spain, UK, and US
Paul Farhi / Washington Post:
Voice of America's 76 foreign employees fear imminent removal from the US as VOA refuses to renew visas, with some fearing a return to authoritarian regimes
Sonny Bunch / The Bulwark:
By making mass-market mediocrities and delivering them to millions in a slightly new way, Netflix is just repackaging broadcast TV, not reinventing it
Max Tani / @maxwelltani:
Business Insider told staff on Friday that the company will not require employees to return to the offices until July 2021