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10:40 AM ET, August 5, 2020

Mediagazer

 Top News: 
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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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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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+
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
Robert D. McFadden / New York Times:
Pete Hamill, the celebrated reporter who worked as a columnist and the top editor of The New York Post and The Daily News, and authored many books, dies at 85  —  He was, among other things, a celebrated reporter, columnist and the top editor of The New York Post and The Daily News and the author of numerous books.
Sara Fischer / Axios:
TikTok tightens policies against manipulated content, expands fact-checking partnerships, and is working with DHS's Countering Foreign Influence Task Force  —  TikTok announced new rules for its users on Wednesday to curb misinformation and manipulation ahead of the 2020 election.
Brian Steinberg / Variety:
Discovery reports Q2 earnings of $271M, down 71% YoY, on revenue of $2.54B, down 12% YoY; US ad revenues were down 14% and distribution revenues were down 2%  —  Discovery said it planned to unveil a new direct-to-consumer streaming service even as its said its second-quarter net income fell 71% …
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:
Ron Amadeo / Ars Technica:
Google says Google Play Music shutdown starts this month, global streaming will shut down in October, and music collections will be deleted in December  —  August begins the four-month Google Music shutdown.  —  Google Play Music has been given the death sentence by Google …
Discussion: NME and The Verge, more at Techmeme »
Julia Alexander / The Verge:
Quibi seems to be testing a free ad-supported tier in Australia and New Zealand  —  Sounds like a testing phase  —  Quibi is beginning to offer a completely free tier to subscribers in Australia and New Zealand as the struggling streaming company tries to build its subscriber base.
Discussion: @loudmouthjulia
 
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 More News: 
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
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: 
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
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