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9:30 AM ET, August 5, 2020

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 Top News: 
Business Wire:
NYT reports Q2 net income of $23.7M, down 6% YoY, revenue of $403.8M, down 7.5% YoY, with ad revenues down 43.9%, and has a total of 6.5M subscribers  —  NEW YORK—(BUSINESS WIRE)—The New York Times Company (NYSE: NYT) announced today second-quarter 2020 diluted earnings per share …
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Marc Tracy / New York Times:
NYT says it has added 669K new digital subscribers in Q2 and its digital revenue, at $185.5M, exceeded print revenue, at $175.4M, for the first time  —  The pandemic squeezed advertising for the web as well as print, but subscription growth was the best ever for a quarter.
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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 …
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
Sarah Perez / TechCrunch:
Facebook launches Instagram Reels, its TikTok competitor that lets users create and publish 15-second videos, in 50+ countries, including the US, UK, and Japan  —  Instagram Reels, the company's significant effort in challenging TikTok on short-form creative content, is launching globally, starting today.
Los Angeles Times:
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.
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
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 …
 
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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
 Earlier Picks: 
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
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
Max Tani / @maxwelltani:
Business Insider told staff on Friday that the company will not require employees to return to the offices until July 2021