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1:40 AM ET, August 5, 2022


 Top News: 
Alex Weprin / The Hollywood Reporter:
Todd Spangler / Variety:
On its Q2 2022 earnings call, Warner Bros. Discovery announced plans to launch a combined HBO Max and Discovery+ streaming service in the US in summer 2023  —  HBO Max and Discovery+ will launch in the U.S. as a single service in the summer of 2023, JB Perrette, CEO and president …
Rick Edmonds / Poynter:
USA Today:
Gannett reports Q2 revenue down 6.9% YoY to $748.7M, a $53.7M net loss, revises guidance down, and plans real-estate sales and cost cutting; stock down ~28%
Oliver Darcy / CNN:
A jury finds that Alex Jones should pay $4M+ in compensatory damages to two Sandy Hook parents; a separate trial is expected to settle punitive damages  —  New York (CNN Business)Right-wing talk show host Alex Jones will have to pay the parents of a Sandy Hook shooting victim a little …
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
Tarpley Hitt / Gawker:
Seven sources close to The New Yorker say Erin Overbey's public version of events leading up to her firing excludes critical context about her job performance  —  Two weeks ago, The New Yorker fired its archivist, Erin Overbey, after the longstanding staffer wrote an extensive thread blasting the magazine and top editor David Remnick.
Katie Kilkenny / The Hollywood Reporter:
The Writers Guild says it won $42M from Netflix for writers of 139 films as a result of arbitration over writers' residuals for the 2018 film Bird Box  —  The Guild says that, after arguing successfully in a case regarding the 2018 film ‘Bird Box,’ it is seeking an additional $13.5 million …
Discussion: The Wrap, Deadline and Variety
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 2022, up from 62M+ in Q1 2022, and 43M+ Paramount+ subscribers in Q2, up from ~39.6M in Q1
Ron French / Bridge Michigan:
A Michigan town votes to defund its library because its employees declined to remove LGBTQ-themed books; the library will likely run out of money in 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
Jacob Liedke / Pew Research Center:
Survey: 16% of US journalists are in a union and 41% say they would join if one were available; 57% of those aged 18-29 would join vs. 33% of those aged 50-64  —  At a time when newsrooms in the United States are seeing a wave of unionization, around one-in-six U.S. journalists …
AJ Vicens / CyberScoop:
Mandiant 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 …
Discussion: Mandiant and Bloomberg
Lee Enterprises:
Lee Enterprises reports Q3 operating revenue down 0.7% YoY to $195M, net income down 94.8% YoY to $0.2M, and digital-only subscribers up 49% YoY to 501K  —  Digital-only subscribers total 501,000 (49% YOY) Reached digital inflection point in advertising with 51% digital revenue Amplified …
Discussion: @johnfnewsom and MediaPost
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 More News: 
Oliver Darcy / CNN:
ABC names Alyssa Farah Griffin and Ana Navarro as permanent co-hosts of The View; a CNN spokesperson says both will remain CNN political commentators
Jessica Bromley / BARB:
Survey: 67% of UK households had a streaming subscription in Q2 2022, down almost 2% from Q1, as Netflix subscriptions fell 1%, Prime Video 4%, and Sky Now 3%
Discussion: The Guardian and Variety
 Earlier Picks: 
Kenneth Li / Reuters:
Thomson Reuters reports Q2 revenue rose 5% YoY to $1.61B, matching estimates, and operating profit rose 24% YoY to $391M
Wall Street Journal:
A look at Netflix scrambling to build an ad business and revive its subscriber growth; sources: Reed Hastings expects Netflix could charge ~$80 per 1,000 views