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3:20 PM ET, August 4, 2022


 Top News: 
Josh Eidelson / Bloomberg:
Unionized Thomson Reuters journalists in the US plan a 24-hour strike starting at 6am ET on August 4, the first walkout in decades, over pay raises  —  Thomson Reuters Corp. journalists in the US are preparing to launch a daylong strike Thursday, the first walkout in decades among the media company's long-unionized staff.
The Wrap:
Paramount reports Q2 revenue rose 19% YoY to $7.7B, while operating income fell 33% YoY to $819M, and says Pluto TV has nearly 70M MAUs  —  Paramount Global on Thursday beat analyst revenue expectations for its 2022 second quarter earnings, thanks largely in part to the humongous, $1 billion+ performance of “Top Gun: Maverick.”
Georg Szalai / The Hollywood Reporter:
Paramount reports nearly 64M global streaming subscribers in Q2, up from 62M in Q1, and 43M+ Paramount+ subscribers, up from 39.6M in Q1  —  The company, led by CEO Bob Bakish, also grew monthly active users for its advertising-supported streamer Pluto TV.  —  Paramount Global added global …
USA Today:
Gannett reports Q2 revenue down 6.9% YoY to $748.7M, a net loss of $53.7M, revises guidance down, and plans cost cuts and real-estate sales; stock falls ~28%
The Wrap:
Sources: WBD CEO David Zaslav plans to announce a combined HBO Max and Discovery+ streaming service on August 4; 70% of HBO Max's development unit could be cut  —  Hollywood is buzzing around Warner Bros. Discovery's upcoming earnings results and plans for a combined streaming service, which can upend its most popular streamer
Todd Spangler / Variety:
Warner Bros. Discovery has been quietly culling HBO Max content, including at least six Warner Bros. films and the House Party reboot, in apparent cost cutting
Wall Street Journal:
A look at Netflix's scramble to build an ad business as its subscriber growth lags; sources say Reed Hastings suggested Netflix could charge $80 per 1,000 views  —  Reed Hastings insisted on focusing on subscriptions until competitors started nibbling away at his business model
Ron French / Bridge Michigan:
A Michigan town votes to defund its library because library staffers refused to remove LGBTQ-themed books; the library will likely run out of money by late 2023  —  - A west Michigan public library may close after residents voted to defund it Tuesday  — Voters are upset about LGBT-themed graphic novels in the library
AJ Vicens / CyberScoop:
Researchers find a network of at least 72 fake news sites pushing Chinese propaganda in North America, Europe, the Middle East, and Asia  —  A network of at least 72 bogus news sites in North America, Europe, the Middle East and Asia are part of a sprawling information operation pushing Chinese propaganda …
Discussion: Bloomberg and Mandiant
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 More News: 
Jessica Bromley / BARB:
Survey: in Q2, 67% of UK households had a streaming subscription, down almost 2% from Q1, as Netflix subscriptions fell 1%, Prime Video 4%, and Sky Now 3%
Discussion: The Guardian and Variety
Aisha Malik / TechCrunch:
Meta plans to shut down its Facebook Live Shopping feature on October 1, as the company shifts its focus to Reels on Facebook and Instagram
 Earlier Picks: 
Nilay Patel / The Verge:
Q&A with YouTube star Hank Green on YouTube's revenue value, TikTok's promotional value, how Complexly is structured, selling Subbable and VidCon, and more
Taylor Lorenz / Washington Post:
Interviews with over two dozen Triller creators and others: the TikTok rival missed payments after promising Black creators $4K per month, half paid in equity
Natalie Musumeci / Insider:
Alex Jones' trial reveals that Infowars made as much as $800K per day in 2018, and that the fake news site made $70M in revenue in its most recent fiscal year