Top News:
Benjamin Mullin / New York Times:
Cox Enterprises plans to acquire Axios, sources say for $525M, later in August; Axios expects $100M+ in 2022 revenue and 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.
Discussion:
Nieman Lab, The Wrap, @benmullin, @benmullin, @jessicalessin, Poynter, @sarafischer, Vanity Fair, @terronk, Axios, @dave_enna, @ted_williams, @johncarreyrou, @dancow, Deadline, CNBC, @jbflint, @scottnover, @stephentotilo, @amyaharder, @sherman4949, @swin24, @sherman4949, @ckrewson, @danprimack, @jonathanvswan, @jakesherman, Press Gazette, @robertjimison, @sherman4949, @brianstelter, @stanfordc, @ericnewcomer, Financial Times, @sonalibasak, @tim_bays, @alaynatreene, Mediaite, @jessicalessin, Variety, @edmundlee, @alexsalvinews, @sherman4949, @rafat, @edmundlee, Reuters, @jordanzakarin, @andrewsolender, @sarafischer, @strngwys, @johnbattelle, @sarafischer, @andrewgiambrone, @rakeshlobster, @mayazi, @yoda, @crecenteb, @loudmouthjulia and MediaPost
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Sara Fischer / Axios:
Jim VandeHei, Mike Allen, and Roy Schwartz plan to 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.
Discussion:
@vanityfair, TVNewser, The Wrap, The Hill, UPROXX, Mediaite, @shaunproulx, @vanityfair, @mlcalderone, New York Post, Blood & Ink, Supercreator, @joepompeo, @neilmcmahon, Insider and Variety
Jack Stebbins / CNBC:
Apptopia: Netflix's games have 23.3M downloads and average 1.7M DAUs, under 1% of Netflix's 221M subscribers; Netflix plans to have 50 games by the end of 2022 — - Netflix plans to expand its video game catalog from 24 to 50 by year-end, marking a significant investment.
Discussion:
TechCrunch, CNET, Next TV, @counternotions, Dan's Stack, Input, The Streamable, @davezatz, The Verge and 9to5Mac, more at Techmeme »
Cynthia Littleton / Variety:
Hollywood's streaming evangelism seemingly ends, as WBD shelves Batgirl and David Zaslav says costly movies going straight to streaming offers no economic value — Five years almost to the day after it began, Hollywood's evangelistic fervor for streaming has been extinguished this week by the “Batgirl” imbroglio.
Discussion:
@michellemanafy, @variety_cynthia, @drtvlotz, @akstanwyck, @zsharf, @jeffjarvis, @variety and Middlebrow Musings
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Zachary Leeman / Mediaite:
John Oliver criticized Warner Bros. Discovery on his August 7, 2022 show, saying his “new business daddy” is “burning down my network for the insurance money”
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
Discussion:
Insider, Puck, @theericgoldman, @ray8fisher, @nickatina_show, @cdncapedcrusadr, Collider, SlashFilm, The Wrap and IndieWire
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
Discussion:
Global Community Weekly, Looper, @amazehayes_, @ourand_sbj, Wall Street Journal, Forbes, Barron's Online, @thr, @thr, @thr, Deadline and Collider
Rick Edmonds / Poynter:
A look at the diverging fortunes of The New York Times and Gannett, as a recent 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
Discussion:
Media Nation, @brierdudley, @jimswiftdc, @tatecurtis, @kellymcb, @jayrosen_nyu, @allisonlcarter, @jeongpark52, @garonsen, @clarajeffery, @poynter, @daphnechen_, @h_edelman and @jbenton
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
Discussion:
Lyft, MediaPost, @counternotions, @itstheannmarie, @nandoodles, @om, @patrickcoffee, @kenanhsaleh, TechCrunch and @megancgraham, more at Techmeme »
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.
Discussion:
@dceiver, @bykatesmith, @sr_lazarus, @alanmairson, @orlagleans, @parkermolloy, @parkermolloy, @jdhughez, @parkermolloy, @mimmymum and @mimmymum
RELATED:
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
Discussion:
Insider, Slate, @houstonchron, @anthony, @blaw, @theagentndn, @senwhitehouse, @statesman, @chucklindell, @motherboard, @barthsnotes, @lionelmedia, New York Times, @oneunderscore__, CNN, @anniemal, New York Times, @jagdbs, New York Times, @doniveson, @katiephang, Axios, @morgantremaine, @amandamarcotte, @irvinewelsh, @mmpadellan, @adambspencer, @consumersos, Vanity Fair, @aweissmann_, @tomcolicchio, @renato_mariotti, @joshtpm, @jemelehill, Bloomberg, @gmbutts, @barbmcquade, @dansolomon, @wingoz, Associated Press, @amandionair, @shannonrwatts, @dansolomon, @averytravistv, @averytravistv, @dansolomon, @evacide, @oliverdarcy, NPR, @thezhanly, @derrelldurrett, @popehat, @popehat, @andykroll, @annamerlan, @rvawonk and VICE
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
Discussion:
Reuters, @karaswisher, @nytliz, @staceyh1970, @blaw, @heidilifeldman, @jordanonrecord, @sarahfrier and The Verge
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 …
Discussion:
American Press Institute, @michaelmiraflor, @blackamazon, @jason_kint and @newley
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
Ivan Levingston / Bloomberg:
Some companies are hiring B2B influencers, mostly on LinkedIn, to pitch to other companies; LinkedIn says 11M+ users have enabled “creator mode” as of July 2022 — Bernard Marr, 49, who has degrees in business, engineering, and information technology, is interested in topics …
Discussion:
@jordannovet
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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