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1:10 PM ET, May 9, 2024

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 Top News: 
Dade Hayes / Deadline:
Disney and WBD announce a streaming bundle of Disney+, Hulu, and Max, with ad-supported and ad-free plans, beginning this summer in the US, with pricing to come  —  Disney and Warner Bros. Discovery are breaking ground in streaming with a bundled offering featuring Disney+, Hulu and Max in a single package.
RELATED:
Jennifer Maas / Variety:
WBD reports Q1 revenue down 7% YoY to $9.96B, and a $966M net loss, down 10% YoY, as TV revenue fell 8% YoY to $5.13B and studio revenue fell 13% YoY to $2.82B  —  Warner Bros. Discovery reported its first-quarter 2024 earnings Thursday, revealing it had reached 99.6 million paid streaming subscribers …
Lucas Shaw / Bloomberg:
Sources: WBD plans more cost cutting to hit financial targets for next year, including the possibility of more layoffs, and has decided to raise Max prices
New York Times:
Sources: if Sony and Apollo acquire Paramount Global, they plan to sell off CBS, cable channels like MTV, and Paramount+, while keeping Paramount Pictures  —  CBS and other well-known properties would be sold if Sony and Apollo are able to buy Paramount.  But the new owners would keep the movie studio.
Sara Fischer / Axios:
Aisha Counts / Bloomberg:
Reddit releases a new content policy, including a ban on AI data licensees from using deleted posts or comments; Reddit expects $60M+ in 2024 licensing revenue  —  - Social media company restricts data use by AI companies  — Reddit expects to generate $60 million from licensing in 2024
Daniel Thomas / Financial Times:
Ofcom report: UK broadcasters predict a “tipping point” when broadcast TV will become economically unviable as distribution costs rise and audiences move online  —  Media watchdog warned of ‘tipping point’ for model's economic viability  —  British broadcasters have warned …
Discussion: Telegraph and Advanced Television
Tyler Falk / Current:
At a House hearing on “NPR bias”, Republicans criticize NPR CEO's absence but some praise local stations, and witnesses call for decentralizing or defunding NPR  —  House Republicans criticized NPR CEO Katherine Maher Wednesday for not attending a hearing about alleged bias within the network …
Jeffrey A. Trachtenberg / Wall Street Journal:
News Corp reports Q3 revenue down 1% YoY to $2.42B, net profit down 40% YoY to $30M, ad revenue fell 8.9% YoY to $358M, and 3.715M digital subscribers  —  News Corp posted lower quarterly revenue and earnings due to a slowdown in advertising and declines at its overseas newspaper unit and subscription-video business.
 
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Maggie Harrison Dupré / Futurism:
An investigation into AdVon, the company behind Sports Illustrated's fake writers, finds its AI content and fake authors at the LA Times, Miami Herald, and more