Top News:
Forbes:
Sources: ad executives told Linda Yaccarino that she is risking her reputation and should step down as X's CEO to make a statement about racism and antisemitism — In the aftermath of IBM, Disney, Apple and others pausing spending on X, formerly known as Twitter, top advertising executives …
Discussion:
Axios, @elonmusk, The Verge, NBC 7 San Diego, Ad Age, @kerrymflynn, The Register, Press Telegram, Media Voices, 9to5Mac, TechCrunch, Business Insider, The Wrap, @johnpaczkowski, Vanity Fair, TIME, New York Post, Alex Konrad on LinkedIn, @voxexsinister.bsky.social, The Messenger, @carnage4life@mas.to, @joelmathis.bsky.social, CNN, CBS News, Music Ally, The A.V. Club, Variety, Supercharged, The Hollywood Reporter and Search Engine Land
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Sharon Knolle / The Wrap:
X files a defamation lawsuit against Media Matters, claiming it “knowingly and maliciously” misrepresented the amount of antisemitic content on the platform — Musk says the watchdog org “would not let truth get in the way of a story” — Elon Musk has followed through …
Matt Binder / Mashable:
After big advertisers flee X, right-wing media outlets and influencers pledge to buy ads or donate, like Benny Johnson, Andrew Tate, Gavin McInnes, Babylon Bee — So far, they are at least hundreds of millions of dollars short on making up for X's potential lost revenue. … Disney.
Max Tani / Semafor:
Sources: Linda Yaccarino asked her son and X executive Matt Madrazo to reach out to GOP ad spenders; X aims for $100M in political ads during the 2024 elections — The Scoop — Linda Yaccarino, the CEO of X, formerly Twitter, has turned the service's Hail Mary bet on an imagined $100 …
Discussion:
@walthickey, Variety, Financial Times, @maxwelltani, @davidfrum, @chrisharihar, @jhweissmann, @jsrailton, @nsnadeemsarwar, Bloomberg and Business Insider
Devin Coldewey / TechCrunch:
Media Matters' claims that some companies' ads appeared next to antisemitic content do not seem to be “manufactured”, contrary to what X alleges in its suit
Discussion:
Mediaite, Reuters, The Desk, CNN, Los Angeles Times, Politico, @tchambers@indieweb.social, Associated Press, Rolling Stone, The Wrap, The Daily Beast, Bloomberg, Reclaim The Net, The Hollywood Reporter, The Guardian, New York Post, The Hill, The Messenger, The i Paper and KNSD-TV, more at Techmeme »
Kylie Robison / Fortune:
At a hastily assembled all-hands, Linda Yaccarino said Media Matters is known “to force a narrative” and asked staff to “be as fiscally responsible as possible”
Caitlin Huston / The Hollywood Reporter:
In a note to employees, Linda Yaccarino says the Media Matters report about ads on X is “misleading” and that X is in the midst of battling “deceptive attacks”
Discussion:
Reuters, CNN, The Information, New Yorker, Axios, @digitalshields, @rmac18, Business Insider, Variety, The Messenger, prima donna …, The Hill, CNBC, Washington Post, Financial Times, Mediaite, Wired, The Desk, Deadline, New York Times, The A.V. Club, Awful Announcing, CBS News, NPR, New York Post, New Republic and The Verge
Press Gazette:
Jeff Zucker's RedBird IMI says it will take control of the Telegraph and Spectator after agreeing to a loan of £600M to repay debts owed by the Barclay family — Abu Dhabi-backed investment fund RedBird IMI has said it is set to take control of the Telegraph and Spectator publications …
Discussion:
Telegraph, Bloomberg, Mediaite, @beerg, @janemartinson, Sky News, New York Post, Financial Times, @markkleinmansky, @markkleinmansky and The Guardian
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Bloomberg:
Sources: senior UK ministers, including the business minister and security minister, raised concerns about the possibility of foreign ownership of the Telegraph — - Badenoch, Tugendhat raise worries with Media Secretary Frazer — Lloyds seized the Telegraph titles in June to claw back debts
Discussion:
Financial Times, @ianjsilvera, @alexwickham, The Guardian, @simontilford, City A.M. and @tw_seal
Vicky Ge Huang / Wall Street Journal:
Crypto exchange Bullish, run by a former NYSE president, acquires CoinDesk for an undisclosed sum in an all-cash deal; DCG acquired CoinDesk for $500K in 2016 — CoinDesk says former Wall Street Journal Editor in Chief Matt Murray will chair an independent editorial committee
Discussion:
The Information, NBC 7 San Diego, @barrysilbert, Axios, CoinDesk, @perkinscr97, @keithgrossman, @leomschwartz, The Verge, @kerrymflynn, Cointelegraph, @barrysilbert, @raph_bloch, @caseycraig_, Sara Stratoberdha Stiefler on LinkedIn, Casey Craig on LinkedIn and The Messenger, more at Techmeme »
Robert Burnson / Bloomberg:
Trump Media & Technology sues 20 media outlets, demanding $1.5B in damages, for reporting that Truth Social lost $73M, calling the number “an utter fabrication” — The company behind former President Donald Trump's Truth Social wants $1.5 billion in damages from news organizations …
Discussion:
The Wrap, Lawyers, Guns & Money and Reclaim The Net
The Verge:
Epic v. Google: a Google exec confirms that Spotify pays no commission when users buy subscriptions via Spotify's payment system and 4% when they pay via Google — Music streaming service Spotify struck a seemingly unique and highly generous deal with Google for Android-based payments …
Reuters:
Belal Jadallah, who led the board of the Press House-Palestine, and two freelance journalists were killed in Gaza over the weekend, per relatives — The head of a prominent media institution in Gaza and two other journalists were killed during the weekend in Israel's offensive in the territory …
Charlotte Tobitt / Press Gazette:
LADbible Group launches a tech website to help build on the brand's existing Unilad Tech social pages, after the audience for its tech content grew 187% YoY — The launch builds on Unilad Tech's social audience of 18 million followers. — Ladbible Group has launched a dedicated tech website …
Charlotte Tobitt / Press Gazette:
UK-based Global and US-based iHeart Media plan to license and distribute each other's podcasts in their home markets; Global signed an ad deal with The Athletic — Global and iHeart Media will license and distribute each other's podcasts in their home markets.
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