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9:10 AM ET, June 10, 2025

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 Top News: 
Lillian Rizzo / CNBC:
Internal memo: Paramount Global is cutting its US-based staff by 3.5% and may also reduce its workforce outside of the US over time  —  Paramount Global is cutting its U.S.-based staff by 3.5%, the latest round of layoffs at the media company as it contends with the decline of the traditional pay-TV bundle and macroeconomic headwinds.
Sarah Fortinsky / The Hill:
CPB CEO Patricia Harrison says three board members that President Trump tried to fire in April remain directors, after a US judge recognizes CPB's independence  —  Correction: A previous version of this article gave incorrect names of the fired CPB board members.  They are Laura Ross, Diane Kaplan and Thomas Rothman.
Bloomberg:
Tencent Music agrees to buy podcasting startup Ximalaya for $1.3B in cash, plus some stock, in a bid to become China's Spotify; Ximalaya had 303M MAUs in 2023  —  The company, a unit of WeChat-operator Tencent Holdings Ltd., will issue shares to its founders and other backers to help fund the acquisition, it said in a statement.
Washington Post:
CPJ says police have assaulted “more than 20” journalists, including by less-lethal projectiles, since LA protests began on June 6, echoing the 2020 US protests  —  Reporters say they were struck with less-lethal rounds fired by law enforcement.  Advocates worry it will inhibit vital journalism.
Alex Weprin / The Hollywood Reporter:
Disney closes its deal with Comcast to buy out NBCUniversal's 33% stake in Hulu, paying an additional $439M, after agreeing in 2023 to pay a floor of $8.61B  —  Disney agreed to buy Comcast's 33 percent stake in Hulu in 2023, after an extended appraisal process, the deal is finally set to close.
Mike Schneider / Associated Press:
The Orlando Sentinel got a cease-and-desist from Florida's DCF that claims its reporter coerced families for a story on a foundation tied to Gov. DeSantis' wife  —  Florida's child welfare agency sent a letter to a Florida newspaper telling it to “cease and desist” its reporting on foster families …
Natalie Korach / Vanity Fair:
Q&A with Maggie Haberman about covering Trump's second term, how the media is separating “the signal from the noise”, Trump's threats, Biden's decline, and more  —  The New York Times' stalwart Trump chronicler, who's out this week with a new afterword to Confidence Man …
Discussion: @nataliekorach
John Hopewell / Variety:
Netflix co-CEO Ted Sarandos says the company will invest over €1B in Spain from 2025 to 2028; Netflix has an 8.7M subscriber base in the country  —  Ted Sarandos, Netflix co-CEO, made the announcement Tuesday at the U.S. streaming giant's European Production Hub in Madrid as Netflix celebrates its tenth anniversary in Spain.
Variety:
SAG-AFTRA reaches a tentative deal with Activision, EA, Epic, Take-Two, and other game companies on the Interactive Media Contract, after months of strikes  —  The video game actors' strike may soon come to an end.  —  The Screen Actors Guild-American Federation of Television and Radio Artists …
Press Gazette:
A UK High Court judge dismisses green energy industrialist Dale Vince's data protection lawsuit against Daily Mail publisher ANL  —  Green energy industrialist Dale Vince's High Court data protection claim against the publisher of the Daily Mail has been thrown out by a judge.
Discussion: Irish News
Cecilia D'Anastasio / Bloomberg:
Roblox hires Paramount's Naveen Chopra as its new CFO, effective June 30; Chopra previously held senior roles at Amazon and served as CFO at Pandora and TiVo  —  Samsung's Galaxy S25 Edge Shows the Limits of Impressively Thin Phones … Explainers
Joe Flint / Wall Street Journal:
WBD splits into two publicly traded companies: Global Networks, with CNN and other cable channels, and Streaming & Studios, with HBO Max and its studio business  —  The entertainment company is contending with a hefty debt load and a sagging stock price
RELATED:
Tony Maglio / The Hollywood Reporter:
WBD's split is set to close in mid-2026; CFO Gunnar Wiedenfels says he assumes “the majority” of WBD's ~$37B debt will exist with the spun off Global Networks
 
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 More News: 
Washington Post:
WaPo names Sam Han as its first Chief AI Officer and unveils WP Incubator, modeled after Silicon Valley incubators to develop new products and business lines
Gene Maddaus / Variety:
A US federal judge dismisses Justin Baldoni's $400M defamation claim against Blake Lively, finding Lively's sexual harassment claims were legally protected
 Earlier Picks: 
Dominic Ponsford / Press Gazette:
Axel Springer CEO Mathias Dopfner plans to mandate that all staff spend at least four days per week in the office, impacting staff at titles like Politico
Brian Stelter / CNN:
Dr. Phil was embedded with ICE during the LA immigration raids, for a report on McGraw's Merit TV, highlighting the made-for-TV nature of Trump's crackdown
New York Times:
Docs: from mid-December, YouTube told moderators to prioritize “freedom of expression” over potential harm, including for political, social, and cultural issues
 

 
From Techmeme:

Todd Spangler / Variety:
The Trump Organization teases the $499 “T1 Phone”, a gold phone “designed and built” in the US, and Trump Mobile, an MVNO that uses AT&T, Verizon, and T-Mobile

Sergiu Gatlan / BleepingComputer:
Europol, Germany, and more dismantle Archetyp Market, a darknet drug marketplace active since May 2020 with 612K users processing €250M+ in Monero transactions

Financial Times:
Digital asset platform Tron plans to go public via a reverse merger with Nasdaq-listed SRM Entertainment, after the US paused a probe into founder Justin Sun
 
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