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4:25 PM ET, October 21, 2020


 Top News: 
Wall Street Journal:
Sources: Quibi is shutting down following lower-than-expected viewership, disappointing download numbers, and a lawsuit; the startup raised $1.75B  —  Streaming service hired a restructuring firm that recommended a range of options to the board  —  Quibi Holdings LLC is shutting itself down …
The Information:
Sources: Jeffrey Katzenberg tried to sell Quibi's catalog to NBCUniversal and Facebook, but both passed  —  Jeffrey Katzenberg may be nearing the end of the road with his mobile video streaming service Quibi.  He recently tried to sell its catalog of programming to companies such as NBCUniversal and Facebook.
Jason Gurwin / The Streamable:
Quibi is now available to stream natively on Apple TV, Amazon Fire TV, and Android TV devices, but not on Roku or gaming consoles
Discussion: 9to5Mac and Cord Cutters News
Janko Roettgers / Protocol:
Netflix to test a 48-hour free streaming event in India, dubbed StreamFest and scheduled for December 4, and may bring the promotion to other countries later  —  Netflix is looking to promote its service with a 48-hour free streaming event, confirmed COO Greg Peters during the company's Q3 2020 earnings call Tuesday afternoon.
Lauren Feiner / CNBC:
Netflix reports Q3 revenue of $6.44B, up 22.7% YoY, vs $6.38B est., and 2.2M paid net adds in Q3 vs 6.8M in Q3 2019 and 10.1M in Q2 2020
Owen Thomas / San Francisco Chronicle:
Hearst is offering San Francisco Chronicle employees voluntary buyouts in an effort to cut expenses  —  Hearst, the owner of The Chronicle, offered employees voluntary buyouts Tuesday in an effort to cut its expenses as the economic effects of the coronavirus pandemic and the outlook for many businesses remained unclear.
Discussion: @jordan_rubio, @palewire and @haleaziz
Rob Walker / Marker:
Profile of Nick Quah, who says Hot Pod, his newsletter about podcasting, has between 20,000 and 25,000 subscribers and earns six figures  —  Nick Quah's newsletter vaulted him from obscurity to industry expert — a formula everyone is now trying to crack  —  It  —  was early November 2014, and Nicholas Quah was irritated.
Leah Asmelash / CNN:
Student journalists at the Daily Gamecock, USC's independent student newspaper, say they are taking a two week hiatus, citing burnout and mental health concerns  —  (CNN)Student journalists at the University of South Carolina are putting themselves first.  —  Citing burnout and mental …
Jared Newman / Fast Company:
Descript, which offers a simple podcast editing tool, expands into video editing, letting users edit videos by rearranging a transcript  —  For the past few years, Descript has offered an intuitive way to edit podcasts, letting you cut, paste, and delete from a written transcript to modify the corresponding audio.
Pew Research Center:
Georg Szalai / Hollywood Reporter:
Verizon Media reports Q3 revenue of $1.7B, down 7.4% YoY but up 21.2% QoQ; FiOS TV lost 61,000 subscribers  —  The telecom giant, led by CEO Hans Vestberg, added 144,000 net new broadband customers, “the most since the fourth quarter 2014.”  —  Telecom giant Verizon on Wednesday reported …
Discussion: @chrisharihar
Kurt Wagner / Bloomberg:
Pinterest adds Salaam Coleman Smith, former top exec of Disney's ABC Family and president of NBCUniversal's Style Media, to its board of directors  —  - Former Disney executive Salaam Coleman Smith joins board  —  Pinterest Inc. has added media industry veteran Salaam Coleman Smith …
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 More News: 
Antonio Garcia-Martinez / The Pull Request:
Elite news media outlets in the US are being torn apart by their own squabbles and destined to abandon the century-long tradition of non-partisan journalism
Thornton McEnery / New York Post:
Sources: Mike Bloomberg discussed a SPAC deal with Bill Ackman of Pershing Square Tontine Holdings to take Bloomberg LP public; Bloomberg spokesman denies talks
Beatrice Verhoeven / The Wrap:
Variety EIC Claudia Eller returns after a 5-month leave and will hold that role through summer 2022; Cynthia Littleton, her successor, to be co-editor-in-chief
Jasper Craven / Battle Borne:
After it shut down last week, a look back at NYT's At War, which launched in 2009 as a successor to Baghdad Bureau blog, as pubs scale back coverage of US wars
Salvador Rodriguez / CNBC:
Snap reports Q3 revenue of $679M, up 52% YoY, vs $555.9M est., DAUs were up ~18% YoY to 249M, average number of daily Snaps up 25% YoY; stock up 25%+
 Earlier Picks: 
Hamilton Nolan / Columbia Journalism Review:
Elite news outlets like WaPo are the most vulnerable orgs when powerful people no longer care how they get covered, a shift that threatens democracy
In a letter, Sacramento Bee News Guild asks McClatchy's new CEO to reconsider a proposal to tie journalists' annual performance reviews and raises to page views