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5:44 PM ET, August 5, 2021


 Top News: 
Katie Robertson / New York Times:
Texas Tribune names Sewell Chan as its editor-in-chief, starting October 18; Chan currently oversees the LA Times' editorial board and opinion section  —  Mr. Chan, who became The Times's editorial page editor last year, will be the editor in chief of The Texas Tribune starting Oct. 18.
Gilad Edelman / Wired:
Mozilla's analysis says Facebook's justifications for cutting off access to researchers running NYU's Ad Observatory project “simply do not hold water”  —  The company says privacy concerns forced it to block access for a team of academics.  Whose privacy, exactly?
Lucas Shaw / Bloomberg:
South Park creators Trey Stone and Matt Parker sign a six-year, $900M+ deal with ViacomCBS for 14 spinoff movies for Paramount+ and episodes for Comedy Central  —  The expanding ‘South Park’ universe will include new movies for Paramount+  —  The creators of “South Park” …
Brian Steinberg / Variety:
ViacomCBS Q2: net income of $1.04B on $6.6B revenue; 6.5M new streaming subscribers for 42M total; new deal with Sky will bring Paramount+ to Europe in 2022  —  ViacomCBS said second quarter profit rose as advertisers spent more robustly on its media assets and the company saw new revenue from a host of streaming initiatives.
Michael M. Grynbaum / @grynbaum:
[Thread] Memo from CNN's Jeff Zucker: the company has fired three employees in the last week who had been coming into the office unvaccinated  —  CNN terminated “three employees who were coming to the office unvaccinated,” per memo from Jeff Zucker. “We have a zero-tolerance policy on this.”
Michael M. Grynbaum / New York Times:
Sources: CNN execs floated the idea of a temporary leave for Chris Cuomo in May if he wanted to formally advise his brother on reacting to sex harassment claims  —  Chris Cuomo, the top-rated host, left some colleagues confused after he did not acknowledge the calls for Gov. Andrew Cuomo's resignation during his Tuesday show.
Alex Sherman / CNBC:   Sources: Jeff Zucker is staying at WarnerMedia at least until the merger with Discovery closes
Dade Hayes / Deadline:
Lionsgate Q1 revenue rose to $901.2M, up 11% YoY and in line with expectations; global subscriber levels totaled 28.9M, down from 29.5M the prior quarter  —  Lionsgate reported results that hurdled the expectations bar, but reflected a quarter-to-quarter slowdown at Starz.
Sarah Scire / Nieman Lab:
Jay Rosen's Membership Puzzle Project is ending; a key takeaway is that membership is no panacea, as most sustainable outlets have multiple revenue sources  —  The public research project analyzed membership projects worldwide.  They found successful communities were fixated on learning what their members value.
Penn National Gaming, which owns Barstool Sports, is buying betting and media company theScore for approximately $2B in cash and stock  —  Penn National Gaming, Inc. (Nasdaq: PENN) (and Score Media and Gaming, Inc. (Nasdaq: SCR) announced today that they have entered into a definitive agreement …
Mark Stenberg / Adweek:
Bloomberg Media and Ebony announce a year-long content-sharing collaboration to cross-pollinate the Bloomberg Equality and Ebony audiences  —  Bloomberg Media and Ebony are teaming up to make Black stories more visible.  The two publishers announced a year-long content-sharing collaboration …
Discussion: Talking Biz News
Naman Ramachandran / Variety:
Ofcom study: Netflix's UK customer base is now bigger than the total of all UK pay-TV subs; UK has 31M subscribers to streaming services, up from 20M in 2019  —  Some 52% of U.K. households have a Netflix subscription and 29 of the top 30 shows on subscription services in the first quarter …
The Information:
Source: Hello Sunshine, which sold at a valuation of $900M, is expected to reach $125M in revenue this year and generated $65M last year  —  Since a Blackstone-led group agreed to buy Hello Sunshine at a valuation of $900 million this week, there's been lots of talk about the rich prices Hollywood studios …
Discussion: @jtoonkel
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 More News: 
Matt Skibinski / NewsGuard:
NewsGuard/Comscore on digital ad spending: $2.6B goes to “misinformation” sites globally each year; for every $2.16 sent to US newspapers, misinfo sites get $1
Thomson Reuters beats expectations with Q2 operating profit of $316M, down 14% YoY, on revenue of $1.53B, up 9% YoY; Reuters News' sales rose 6% YoY to $168M
 Earlier Picks: 
Tim Baysinger / The Wrap:
Fox Corp. reports Q4 revenue of $2.89B, with affiliate revenue up 10%, ad revenue in its TV segment up 51%, and cable ad revenue up 17% in the quarter
Oskar Serrander / Acast:
Podcast network Acast says 14M Americans listen to its shows per month, it's home to 28K shows total, of which 25% are US-based, and it's paid $110M to creators
Edmund Lee / New York Times:
NYT beats Q2 expectations with $93M adjusted operating profit on $499M revenue; 8M subscribers, 142K new digital subscribers; online revenue up 41% YoY to $261M