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Warner Bros. Discovery reports 92.1M subscribers, counting HBO Max and Discovery+, rev. of $9.8B vs. $11.9B est., a loss of $3.4B; stock falls ~8% after hours — The company is on a mission to find billions of dollars in cost savings.
Discussion:
Warner Bros. Discovery, New York Times, @billkuchman, SlashFilm, TechCrunch, Forbes, Variety, Variety, Gizmodo, New York Post, @aagave, @masasoncap, @sherman4949, CNBC, @azalben, @tvmojoe, @aagave, @natjarv, @natjarv, @natjarv, @natjarv, @natjarv and @loudmouthjulia
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On its earnings call, Warner Bros. Discovery announced that HBO Max and Discovery+ will launch as a combined streaming service in the summer of 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 …
Discussion:
CNET, The Streamable, ScreenRant, The Wrap, SlashFilm, Looper, TV Insider, Media Play News, @dylanbyers, @xpangler, @natjarv, @zaackhunt and Deadline

A jury finds that Alex Jones should pay ~$4M in compensatory damages to two Sandy Hook parents; punitive damages are to be settled separately — 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 more than $4 million …
Discussion:
@popehat, NPR, CBS News, UPI, @popehat, @oneunderscore__, @popehat, @popehat, @hesherman, Jezebel, @themichaelmoran, @oliverdarcy, Glamour and Metro.co.uk
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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
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
Discussion:
VICE, Associated Press, @oneunderscore__, The Wrap, Mediaite, @willsommer, Forbes, NBC News, New York Post, @bgrueskin, Vox, New York Times, @bestforbritain, @jonallendc, @_secondthought, @atrachelgilmore, @dansolomon, @dansolomon, @elise_jordan, @reallorraine, @jeffjarvis, @egavactip, @cameronwilson, @gideonrachman, @froomkin, @maitlis, @zeynep, @janusrose, @nandoodles, @oneunderscore__, @annamerlan, @darbyscastle, @stevesilberman, @randfish, @maxapotter, @jenmercieca, @hasanthehun, @oneunderscore__, @emptywheel, @emptywheel, @realkellyjones, @popehat, @insidernews, @thetweetofjohn, Associated Press, VICE, Deadline and Law & Crime

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.”
Discussion:
Deadline, MediaPost, @aurahack, IndieWire, Variety, @tvgrimreaper, @kirbyslastsnack, UPI, Engadget and Paramount
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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
Paramount reports nearly 64M global streaming subscribers in Q2, up from 62M in Q1, and 43M+ Paramount+ subscribers, up from 39.6M in Q1
Discussion:
Variety, The Streamable, @tvgrimreaper, @adrianweckler, @thr, Adweek, TechCrunch, @xpangler, Deadline, The Streamable, @thr, @kimmasters and @xpangler

Gannett execs say the company expects economic headwinds all year, will speed up real estate sales to pay down debt, and will make staff cuts in coming days — Digital subscriptions are up, but, as expenses rise, other revenue streams are in a freefall — Gannett recorded …
Discussion:
MediaPost, New Jersey Globe, @danrshafer, @jeremylittau, The NewsGuild, @giambusso, @newsguild, @gaufre, @bymikedavis and @poynter
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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%
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%
Discussion:
@npenzenstadler, Gannett, @sulliview, @verano305, @mattdpearce, @dinfontay, @hilton_annmarie, @mattlaslo, @elaheizadi, @tednesi, @marshallramsey, @jeffplatsky, @jonchesto, @nikkiusher, @jgrzelewski, @matttraub, @larryryckman, @freedom22bb, @joshua_newman, @gaufre, @rickedmonds, @svenaurich and @coreyhutchins
fuboTV:
FuboTV reports Q2 revenue up 65% YoY to $216.1M, a net loss of $116.3M compared to $94.9M for the quarter a year ago, and paid subscribers up 41% YoY to 946,735 — NEW YORK—(BUSINESS WIRE)— FuboTV Inc. (NYSE: FUBO), the leading sports-first live TV streaming platform …
Discussion:
Next TV, Front Office Sports, @tvgrimreaper and fuboTV

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.
Discussion:
@reutersguild, @laurenkgurley, @katielpaul, Poynter, @reutersguild, @drixander, @josheidelson, @randewich, @sineadcarew, @fedcourtjunkie, @juliocesrchavez, @dlind, @mattmillsphoto, @sarahnlynch, @nicholagroom, Observer, @nyguild, @six6jiang, @peard33, @josheidelson, @sarahnlynch, @nylahuda, @newyorkerunion, @reuterszengerle, @nickpbrown, @felixsalmon, @rover829, @josheidelson, @josheidelson and Press Gazette

Seven sources close to The New Yorker say Erin Overbey's public version of events leading up to her firing leaves out 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 …
Discussion:
@thatjenmonroe, @jessesingal, @brandonetc, @benjamingoggin, @noahyoo, @ericdharvey and Today in Tabs

Survey: 16% of US journalists are in a union and 41% say they would join one if it were available; 57% of those age 18-29 would join vs. 33% of those 50-64 — At a time when newsrooms in the United States are seeing a wave of unionization, around one-in-six U.S. journalists at news organizations report …
Discussion:
@joshuaerlich, @thesarahkelly, @johngramlich and @pewjournalism

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
Discussion:
@valuetom84, Newslit Daily, @astaniscia86, @asharma, @benmullin, @bysarahkrouse, @carlquintanilla, @mediainsider and Insider, more at Techmeme »

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
Discussion:
Literary Hub, @phil_lewis_, @lebatardshowfan, @lebatardshowfan, @lebatardshowfan, @lebatardshowfan, Insider, @bracknerrichard, @ncshusterman, @ryanbeckwith, @lebatardshowfan, @mariskreizman, @purplechrain, @ohiohag, @ord_red, @mimzway, @amescg, @mariskreizman, @mikebutcher, @blakepater, @xtheexiled and @stevesilberman

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 …