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3:00 PM ET, August 8, 2022

Mediagazer

 Top News: 
Benjamin Mullin / New York Times:
Cox Enterprises plans to acquire Axios, sources say for $525M; Axios forecasts $100M+ in 2022 revenue; Axios will spin off its software arm Axios HQ  —  The digital media company's founders, Jim VandeHei, Mike Allen and Roy Schwartz, will continue to run the company.
RELATED:
Sara Fischer / Axios:
Jim VandeHei, Mike Allen, and Roy Schwartz will stay on Axios' board and maintain control of the company's editorial direction and day-to-day operations  —  Axios has signed a deal to sell to its most recent lead investor, Cox Enterprises, Inc., the companies announced Monday.
Joe Pompeo / Vanity Fair:
An interview with Rachel Maddow on her decision to step back from MSNBC's daily prime time slot after 14 years to focus on a WWII-era podcast and other projects  —  The cable juggernaut signed a multimillion-dollar contract to not be on the air five nights a week.
Jack Queen / Reuters:
A jury says Alex Jones must pay two Sandy Hook parents $45.2M in punitive damages, on top of $4.1M in compensatory damages, for claiming the shooting was a hoax  —  U.S. conspiracy theorist Alex Jones must pay the parents of a 6-year-old boy killed in the 2012 Sandy Hook massacre $45.2 million …
RELATED:
Parker Molloy / The Present Age:
How mainstream outlets boosted right-wing commentators Alex Jones, Tomi Lahren, and others to the point of manifesting the rising star narrative they created  —  When mainstream media outlets decide to interview right-wing trolls like Jones, they're paving the way for the fringe's future success.
Janet Miranda / Bloomberg:
Texas law caps punitive damages, meaning Alex Jones may get a reduced fine; his lawyers plan to seek a fine reduction that the plaintiffs' lawyers plan to fight
Rick Edmonds / Poynter:
A look at the diverging fortunes of The New York Times and Gannett, as an internal memo shows 88% of Gannett's subscription revenue still comes from print  —  Where Gannett has spread itself too thin, the Times has found overwhelming success with its longstanding digital-focused plan
Patrick Coffee / Wall Street Journal:
Lyft forms Lyft Media, a business unit to consolidate and expand its ad offerings, and plans to show more ads in cars, on its app, and at bike-share stations  —  Through its Lyft Media unit, the ride-hailing company plans to offer more ads inside cars, on its app and at bike-share stations
Wall Street Journal:
Gannett, Warner Bros. Discovery, The New York Times, Paramount, and other US media firms have noted a Q2 2022 advertising slowdown and headwinds in Q3 guidance  —  Warner Bros. Discovery, New York Times and Paramount Global warn of pressure on ad revenue  —  U.S. television networks …
Zachary Leeman / Mediaite:
John Oliver criticized Warner Bros. Discovery during his Sunday show, saying his “new business daddy” is “burning down my network for the insurance money”  —  Last Week Tonight host John Oliver went after Warner Bros. Discovery during his Sunday broadcast …
Discussion: Deadline and Vanity Fair
RELATED:
Ryan Faughnder / Los Angeles Times:
Warner Bros. Discovery's stock closed down 16.53% on August 5, after its first combined financial report revealed disappointing revenue and streaming challenges
Kim Masters / The Hollywood Reporter:
Sources: DC Films President Walter Hamada was on the verge of leaving the studio after Batgirl's shelving, but agreed to stay on at least until October 21, 2022
Dominic Ponsford / Press Gazette:
UK events and publishing company Informa sells Lloyd's List, the maritime information service launched in 1734, to Montagu Private Equity for £385M  —  B2B giant Informa has announced the sale of maritime information brand Lloyd's List to Montagu private equity in a £385m deal …
Discussion: Talking Biz News and InvestEgate
Nico Grant / New York Times:
Inside the “YouTube automation” cottage industry, which is persuading people to spend thousands of dollars on tutorials for creating video businesses on YouTube  —  A cottage industry is persuading people to spend thousands to create video businesses on YouTube.  Disclaimer: It is harder than it looks.
Discussion: @nicoagrant
 
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 More News: 
Geoff Edgers / Washington Post:
How a record store owner exposed MoFi's use of digital files after the company claimed for years its pricey vinyl album reissues are purely analog reproductions
Rowan Philp / Global Investigative Journalism Network:
Pulitzer-winning Associated Press reporter Martha Mendoza and eight more investigative reporters discuss their mistakes and what journalists can learn from them
Kathryn Foxhall / Columbia Journalism Review:
Reporters' ability to talk with US federal agency staff without public information officer approval has been gradually cut off, and the media should fight back
 Earlier Picks: 
Jon Brodkin / Ars Technica:
Charter and Bright House settle lawsuits by major record labels that accused the ISPs of failing to close accounts that illegally downloaded copyrighted songs
Discussion: TorrentFreak
Chris Roush / Talking Biz News:
Consumer Reports Vice President and Content Officer Gwendolyn Bounds is leaving after eight years to become executive director and head of content at SmartNews
 

 
From Techmeme:

Nick Robins-Early / The Guardian:
Insurer Parametrix estimates that the global outage sparked by CrowdStrike's faulty update will cost US Fortune 500 companies, excluding Microsoft, $5.4B

Zac Bowden / Windows Central:
Microsoft unveils Bing generative search, which shows AI-generated answers with the sources used to create them, currently available to a small subset of users

Josh Eidelson / Bloomberg:
Around 500 World of Warcraft workers vote to unionize with the CWA, bringing the number of unionized US gaming employees at Microsoft to around 1,750

 
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