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2:50 PM ET, May 8, 2025

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 Top News: 
Brian Steinberg / Variety:
WBD reports Q1 revenue down 10% YoY to $8.9B, net income down 53% to $453M, $2.6B streaming revenue, $339M streaming adjusted EBITDA, and 122.3M streaming subs  —  Even so, the company had to contend with dips in all of its traditional streams of revenue, including advertising and distribution …
RELATED:
Tony Maglio / The Hollywood Reporter:
CNBC's David Faber: sources say WBD is moving toward a split that would see its linear cable networks spun off from the studio and Max
Eshe Nelson / New York Times:
President Trump's threatened 100% tariffs on foreign films causes anxiety in the UK industry; nearly 90% of the £5.6B spent on 2024 production came from abroad  —  After struggling through pandemic shutdowns and twin Hollywood strikes, the British film and TV industry is worried that duties will wreak devastation.
Chris Vallance / BBC:
The Wikimedia Foundation says it is taking legal action to challenge the UK's Online Safety Act, saying it could threaten the safety of its volunteer editors  —  Wikipedia is taking legal action against new Online Safety Act regulations it says could threaten the safety of its volunteer editors …
Jem Aswad / Variety:
Rolling Stone announces CEO Gus Wenner will assume the role of executive chairman and Julian Holguin, the former president of Billboard, will become the new CEO  —  Rolling Stone has announced that Gus Wenner will assume the role of executive chairman, and Julian Holguin will become the brand's CEO.
Lachlan Cartwright / Breaker:
Sources: NYT reporter Rob Copeland filed a HR complaint against editor Ellen Pollock after she threatened to “kill” him if a Harvard story exceeded 2,000 words  —  Pamela Paul's new gig; Keith McNally censored; VERSANT vs Vaulter  —  In partnership with … Newsrooms plus pressure equals... more drama.
Zac Ntim / Deadline:
India's Ministry of Information and Broadcasting orders all streamers and OTT companies operating in India to pull Pakistani content, citing national security  —  The order was published today by India's Ministry of Information and Broadcasting.  In an X caption along with the order …
Jeré Longman / New York Times:
Clarence O. Smith, co-founder and president of Essence, the first general circulation magazine directed at Black women, has died at age 92  —  As president, he helped persuade companies like Estée Lauder and Ford to advertise in the pages of the first mass-circulation magazine directed at Black women.
Discussion: Essence
 
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 Earlier Picks: 
Brian Steinberg / Variety:
NBCU reaches an agreement that will allow it to sell Versant's US ad inventory for the next two upfront cycles
Winston Cho / The Hollywood Reporter:
In a letter, nine US senators urge Shari Redstone not to settle Trump's $20B lawsuit, saying it will only embolden him to “extort” CBS and other outlets
Lauren Forristal / TechCrunch:
Netflix unveils its ChatGPT-powered search that lets users express preferences using natural phrases, rolling out this week to iOS users as an opt-in beta
 

 
From Techmeme:

Mike Isaac / New York Times:
Cognition acquires Windsurf, saying it will waive 100% of Windsurf employees' vesting cliffs and give them “fully accelerated vesting for their work to date”

Eli Tan / New York Times:
Sources: Meta's new superintelligence lab led by Alexandr Wang discussed abandoning its top open-source model, Behemoth, in favor of developing a closed model

Deborah Sophia / Reuters:
The US DOD announces OpenAI, Google, Anthropic, and xAI have each won contracts with a $200M ceiling, aimed at enabling agentic AI national security workflows
 
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