Top News:

Netflix, Amazon, Warner Bros., and others cut costs, staff, movies, and TV shows; the industry released 559 scripted shows in 2021, up by 200+ compared to 2013 — The sudden decline in Netflix's share price and the growing fear of a recession have forced Hollywood into a new period of fiscal austerity.
Discussion:
@merrillbarr, Digiday, TechCrunch, @mattrosoff, @trengriffin, @lucas_shaw, The Streamable, @nickandmore, mxdwn Television, Tom's Guide and CINEMABLEND

Analysis: “Democrats cheating” and similar ideas have been raised 5K+ times on radio shows in 2022; radio remains the most influential medium for conservatives — Election fraud claims from 2020 are widespread on talk radio, contributing to the belief that the midterm results cannot be trusted.

The CPJ says the US should ensure accountability in Shireen Abu Akleh's killing, after the US said a probe found no reason to believe her death was intentional — The U.S. government should ensure that those responsible for the killing of Palestinian American journalist Shireen Abu Akhleh …

Bloomberg News' investigations team adds five members, including four from BuzzFeed News: Anthony Cormier, Jason Leopold, Kendall Taggart, and Alex Campbell — Bloomberg senior executive editor Otis Bilodeau and executive editor Robert Blau sent the following memo to Bloomberg's investigations team on Tuesday:

Sources: TikTok abandons plans to expand its TikTok Shop live e-commerce program to Europe and the US, after internal problems and a lack of traction in the UK — Chinese-owned social media platform's foray into livestream shopping in the UK has struggled to gain traction

Allen & Co.'s annual Sun Valley conference begins on July 5 featuring Warner Bros. Discovery, Disney, Netflix, and more, as financial woes dampen dealmaking — As fleece-clad billionaires—and newcomers like Bari Weiss—flock to Idaho this week, Sun Valley fixtures are buzzing about Netflix's future …

Peter Chernin announces The North Road Company, rolling up Red Arrow and two other content studios, and raises $800M, source says at a $1B+ valuation — North Road will house Chernin Entertainment; U.S. assets of Red Arrow Studios; and Words + Pictures, with more acquisitions to follow.
Discussion:
Axios, @danprimack, @alexweprin and @sarafischer

A Gallup survey of Americans' confidence in major US institutions shows a drop of 5 percentage points for both newspapers and TV news from 2021 to 2022 — WASHINGTON, D.C. — Americans are less confident in major U.S. institutions than they were a year ago, with significant declines for 11 …

IBT Media sues Newsweek and its CEO, seeking to cancel the 2018 deal to spin out Newsweek, which IBT claims was a PR stunt to shield the magazine from bad press — IBT Media is asking a New York court to cancel a 2018 deal in which Newsweek was spun off as an independent company …
Discussion:
@mathewi, @film_girl, @mattgertz, @petersterne, @zzzzaaaacccchhh, @moorehn, @natsecjeff, @sivavaid, @jeffjarvis, @bmorrissey, @naveedajamali, @petersgoodman and MediaPost

EU lawmakers pass the Digital Services Act and the Digital Markets Act, seeking to regulate US tech giants, but limited resources could hamstring enforcement — EU lawmakers gave the thumbs up on Tuesday to landmark rules to rein in the power of tech giants such as Alphabet (GOOGL.O) …
Discussion:
@bertuzluca, LinkedIn, Protocol, Beyond Search, TechCrunch, Input, @thierrybreton, @slightlylate, Gizmodo, @carnage4life, @tariqkrim, Bloomberg, 9to5Mac, MacRumors, AppleInsider and European Parliament, more at Techmeme »

The Associated Press reopens its Gaza Strip bureau in a new location over a year after an Israeli airstrike destroyed the building housing its former office — Over a year after the building housing the news agency's Gaza bureau was destroyed in an Israeli airstrike, The Associated Press announced today …

In an interview from jail, the man accused of detonating the car bomb that killed Maltese journalist Daphne Caruana Galizia confesses to the crime — The man accused of detonating a car bomb that killed a prominent Maltese journalist has confessed to the crime in an interview with a Reuters reporter …
Discussion:
Media1, @stephengrey, @sarah_m_clarke, @rebecca_vincent, @heidi_cuda, @globalfreemedia, @wonderymedia, @w7voa, The Guardian, The Daily Beast and Politico