Top News:

Oliver Darcy leaves CNN to launch Status, a newsletter akin to Puck, for $15/month or $150/year; CNN says the Reliable Sources newsletter is on summer hiatus — Oliver Darcy is starting a subscription-based news site dedicated to covering the media industry, joining a crowded field.
Discussion:
Status, Variety, @oliverdarcy@threads.net, New York Post, Breitbart, Talking Biz News, @digiphile@threads.net, @digiphile@threads.net, The Wrap, @passantino@threads.net, The Hollywood Reporter, @bethanyshondark, @keitholbermann, Mediaite, @maxwelltani, @donie, Deadline, @donie, Associated Press and Barrett Media

Email: the World Federation of Advertisers discontinues activities of its nonprofit, GARM, following X's antitrust lawsuit, but intends to contest X's claims — - The World Federation of Advertisers is ‘discontinuing’ the activities of the Global Alliance for Responsible Media.

A look at the people behind Channel3Now, a crime news aggregator whose story wrongly blaming an asylum seeker for the Southport attack played a role in UK riots — What connects a dad living in Lahore in Pakistan, an amateur hockey player from Nova Scotia - and a man named Kevin from Houston, Texas?

Sources: Google and Meta ran a pilot program in the US in May 2024 to target Instagram ads to teenagers on YouTube, which prohibits targeting ads to under-18s — Campaign on YouTube to boost Instagram's appeal to young people skirted search group's rules for marketing to under-18s

WBD CFO Gunnar Wiedenfels says NBA talks were a “triggering event” to reevaluate the company and take a $9.1B impairment charge, but were not the only factor — However, CFO Gunnar Wiedenfels notes the reevaluation wasn't “a response to one individual factor”
RELATED:
Jill Goldsmith / Deadline:
WBD reports Q2 revenue down 6% YoY to $9.7B, a $9.99B net loss, and takes a $9.1B impairment charge for networks; global streaming subs rose 3.6M to reach 103M
WBD reports Q2 revenue down 6% YoY to $9.7B, a $9.99B net loss, and takes a $9.1B impairment charge for networks; global streaming subs rose 3.6M to reach 103M
Discussion:
CNBC, StreamTV Insider, The Wrap, The Media Leader, Next TV, Variety, Quartz, @michellef_davis, @firmreturns, @billbrewstertbb, WORLD SCREEN, @sherman4949, @sherman4949, @sherman4949, @annaknicolaou, @heetermaria, Yahoo Finance, Advanced Television, CNBC, Sportico, Awful Announcing, Financial Times, Game Developer, Bloomberg, Los Angeles Times, The Streamable, The Hollywood Reporter, Warner Bros. Discoverey, IndieWire and Variety

Sens. Elizabeth Warren and Bernie Sanders and Rep. Joaquin Castro write to the DOJ asking to investigate Venu Sports and “oppose it if violates antitrust law” — Sens. Elizabeth Warren and Bernie Sanders and Rep. Joaquin Castro have sent a letter to the Department of Justice asking …

Analysis: Truth Social is increasingly reliant on niche ad campaigns that target hard-core Trump fans and Christian conservatives, often with small ad budgets — Donald J. Trump's social network is increasingly relying on a niche of the ad market that caters to hard-core Trump fans and Christian conservatives for revenue.

Perplexity donates $250K to Northwestern's Medill School of Journalism to support research into AI and news after news outlets accused Perplexity of plagiarism — Northwestern University's Medill School of Journalism will receive $250,000. — AI search chatbot Perplexity …
Discussion:
@sarahnemerson, @aravsrinivas, @aravsrinivas and Beyond Search

Sony's anime streaming service Crunchyroll announces it has surpassed 15M monthly paid subscribers, up from 11M in July 2023 — The news comes after Sony reported a 10% increase in operating profit during its first fiscal quarter of 2024 — Crunchyroll, the Sony-backed streaming service dedicated …
Discussion:
Crunchyroll, Carter Hahnselle on LinkedIn, Next TV, TVNewsCheck, CNBC and The Streamable

iHeartMedia reports Q2 consolidated revenue of $929M, up 1% YoY, an operating loss of $910M, up from $897M in Q2 2023, and podcast revenue up 8% YoY to $104.5M — The company also saw a wider net loss this quarter compared to last year. — Podcast revenue at iHeartMedia rose 8 percent …
Discussion:
Inside Radio, iHeartMedia …, Radio & Television … and Barrett Media

TikTok launches TikTok Spotlight, in-app hubs for movies and TV shows that add links to “applicable” videos with more info and where to watch, tested with Dune — TikTok will now create in-app hubs for movies and TV shows and place them directly on fan-made videos.
Discussion:
Ad Age, TechCrunch, Variety, The Media Leader, Deadline, TikTok and The Hollywood Reporter, more at Techmeme »

Nexstar reports Q2 net revenue up 2.3% YoY to $1.3B, net income up 41.3% YoY to $106M, ad sales up 2.2% YoY to $522M, CW quarterly losses down $33M from Q2 2023 — Nexstar reported its second-quarter 2024 earnings Thursday, revealing that the CW Network has narrowed its losses by $33 million.
Discussion:
The Wrap, The Desk, Deadline, Nexstar Media Group, Inc. and Next TV
Reuters:
AMET: Chadian police arrest Badour Oumar Ali, the editor-in-chief of major Chadian news website TchadInfos.com; he was taken away by “armed and hooded men” — Chadian police have arrested the editor-in-chief of a major Chadian news website, a group of online media outlets said late on Wednesday …