Top News:

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.
Discussion:
Variety, Reuters, Deadline, The Hollywood Reporter and NewsMax.com

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.
Discussion:
Reuters and Music Business Worldwide

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.
Discussion:
Current, CPB, Inside Radio, TV Tech, Reuters, Radio Ink, Deadline, Radio & Television …, Diane Ravitch's blog and RADIO ONLINE

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.
Discussion:
First Amendment Coalition, TVNewsCheck, BBC, The Guardian, Reporters Without Borders, Committee to Protect …, USA Today, @mekkaokereke@hachyderm.io, @tracyjan.bsky.social, @hbwhbwhbw.bsky.social, @yousefbaig.bsky.social, @scottnover.bsky.social, @abbeyr28.bsky.social, @scottnover.bsky.social, MediaPost, Committee to Protect …, PetaPixel, NBC News, Grabien, CBS News, MyNewsLA.com, Irish News, The Guardian and r/Journalism

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 $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.
Discussion:
Awful Announcing, Variety, Fortune, Reuters, Proactive, @thedclblog, @mattbelloni, @aagave, @loudmouthjulia, @kathycook.bsky.social, MarketWatch, Sports Business Journal, Axios, Los Angeles Times, CNBC, Wall Street Journal, The A.V. Club, Deadline, Cord Cutters News, The Wrap, The Information, TVNewsCheck, Benzinga, Philadelphia Business Journal and Bloomberg, more at Techmeme »

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 …
Discussion:
Orlando Sentinel, @bgrueskin.bsky.social, @zuma888.bsky.social, @tyleraking.com, @nytpitchbot.bsky.social, @joekrulder.bsky.social, Florida Politics, @dangillmor@mastodon.social, @michaelsderby.bsky.social, @willbunch.bsky.social, @jestastrophy.bsky.social, @skippyoz.bsky.social, @anthonylfisher.bsky.social, @SteveThompson@mastodon.social, @mmasnick.bsky.social, Mediaite, Alternet.org and Raw Story

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

WPP Media expects ad revenue from user-generated content and platforms like YouTube and TikTok to surpass that from traditional media for the first time in 2025 — User-generated material to surpass advertising income from professional media amid change in viewing habits
Discussion:
BMI, VideoWeek, The Hollywood Reporter, Reuters and campaignlive.co.uk, more at Techmeme »

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.
Discussion:
Reuters, Deadline and The Hollywood Reporter

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 …

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
Discussion:
MediaPost, The Desk, CNN, New York Times, @sherman4949, Axios, @benremaly, Barrett Media, @jbflint, Sports Business Journal, Variety, @tvgrimreaper, Associated Press, Mediaweek, @pkafka, @dylanbyers, Awful Announcing, @jbflint, Multicast News, @sarafischer, @sherman4949, @jbflint, @brianstelter, @jbflint, @jbflint, @xpangler, @sherman4949, @jbflint, @sherman4949, @sherman4949, Ava Justin on LinkedIn, @ofadam.com, Android Police, Yevhen Zorichev on LinkedIn, @alissawilkinson.bsky.social, The Washington Free Beacon, The Streamable, How-To Geek, @karlbode.com, @karlbode.com, TechCrunch, The Independent, New York Post, Dylan Jones on LinkedIn, Newser, Yahoo Finance, Financial Times, @jackcarterbenjamin …, Deadline and WPXI-TV
RELATED:

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
Discussion:
@sherman4949, @sherman4949, CNBC, @sherman4949, Deadline, Kotaku, PCWorld, Sportico, Engadget, @mhwilliams.bsky.social and MarketWatch
Jacob Pramuk / CNBC:
WBD says David Zaslav will be CEO of the new Streaming & Studios business, and current WBD CFO Gunnar Wiedenfels will become CEO of the Global Networks business
WBD says David Zaslav will be CEO of the new Streaming & Studios business, and current WBD CFO Gunnar Wiedenfels will become CEO of the Global Networks business
Discussion:
New York Times, Financial Times, Fortune, Benjamin Thornton on LinkedIn, Broadband TV News, The Verge, @andrewkjennings.com, Digital Journal, Screen, Barry Dan on LinkedIn, Deadline, MarketWatch, @radiodeadair.com, Variety, New York Sun, Gamereactor UK, RetailWire, Adweek, The Hollywood Reporter, @kristenlopez88.bsky.social, NPR, Entrepreneur, Front Office Sports, Le Monde, Pocket-lint, Tom's Guide, PR Daily, The Business Times, UPI, The Streamable, Proactive, @thacalebdume.bsky.social, Los Angeles Times, Quartz, @robpegoraro.com, ZeroHedge News, WORLD SCREEN, Barrett Media, Times of India, @jeffjarvis.bsky.social, Sports Business Journal, The Wrap, NBC News, Yahoo Finance, Cord Cutters News, Advanced Television, TVNewsCheck, Mediaite, Reuters, TVBEurope, Bloomberg, CBS News and Semafor

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

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