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7:05 AM ET, July 18, 2025

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 Top News: 
Irie Sentner / Politico:
Trump says he will sue the WSJ and Rupert Murdoch over a story alleging he sent a racy letter to Jeffrey Epstein and claims he warned them the letter was “fake”  —  “President Trump has already beaten George Stephanopoulos/ABC, 60 Minutes/CBS, and others, and looks forward to suing …
Peter White / Deadline:
CBS says The Late Show with Stephen Colbert is ending in May 2026 and that this was “purely a financial decision against a challenging backdrop in late night”  —  In a shocking move, The Late Show with Stephen Colbert is ending in May 2026.  —  “The Late Show With Stephen Colbert …
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NBC News:
The US House passes a Senate-approved bill to strip $1.1B from the CPB, hitting 1,500 local stations, PBS, and NPR; it now awaits President Trump's approval  —  The $9 billion package passed the House and the Senate with only Republican votes through the rarely used “rescissions” process.
Sarah Whitten / CNBC:
Netflix reports Q2 revenue up 16% YoY to $11.08B, vs. $11.07B est., net income of $3.13B, and forecasts 2025 revenue of $44.8B-$45.2B, up from $43.5B-$44.5B  —  - CNBC Councils  — CNBC on Peacock  — Join the CNBC Panel  — Supply Chain Values  — Select Shopping  — Ad Choices
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Emma Roth / The Verge:
Netflix says it's on track to double its advertising revenue this year and that it will roll out interactive ads in the second half of 2025  —  Older Netflix shows like Orange is the New Black and Ozark have racked up over 100 million hours so far in 2025, as its Q2 revenue passed $11 billion.
Brian Steinberg / Variety:
CNBC names David Cho, most recently the EIC of Barron's, as its EIC, replacing both Dan Colarusso and Jay Yarow, ahead of CNBC's planned spin-off into Versant  —  CNBC heads toward market close with a new executive about to come on board to manage its editorial ups and downs.
Etan Vlessing / The Hollywood Reporter:
Lionsgate Motion Picture Group names Erin Westerman president, replacing Nathan Kahane who steps down by the end of 2025; Westerman joined the company in 2017  —  The Hollywood veteran replaces Nathan Kahane after he announced plans to step down by the end of the year.
New York Times:
Substack raised a $100M Series C from Chernin Group, a16z, and others, sources say at a $1.1B valuation, as it builds its social network and warms up to ads  —  Substack, originally a newsletter service, says its app now has millions of users interacting with its creators.
Josef Adalian / Vulture:
Peacock will raise prices by $3 per month for new users starting July 23 and test a $7.99/month ad-supported “Select” tier without sports and some other content  —  This story ran in Buffering, Vulture's newsletter about the streaming industry.  Head to vulture.com/buffering and subscribe today!
Alex Weprin / The Hollywood Reporter:
Barstool Sports signs a “wide ranging” deal with Fox Sports, with Dave Portnoy and other Barstool personalities joining Fox's college football coverage  —  Portnoy will join the team of Fox's college football show, with other Barstool personalities.
Alex Sherman / CNBC:
MLB Commissioner Rob Manfred says NBC, Apple, and ESPN are the bidders for the league's Sunday Night Baseball package; ESPN initially opted out of it  —  CNBC's Most Valuable Sports Empires 2025: Here's how the top 20 empires in the world stack up  —  WNBA's Portland Fire unveils name and logo ahead of 2026 tipoff
 
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 More News: 
Financial Times:
Sources: former Goldman Sachs banker Simon Dingemans and former Sainsbury's CEO Justin King are among those on a shortlist to chair Channel 4
Andrew Deck / Nieman Lab:
Dow Jones launches AI-powered real-time translations of financial news into French, an expansion of services offering automated Korean and Japanese translations
Blake Brittain / Reuters:
A US judge rules that three authors suing Anthropic can bring a class action on behalf of all US writers whose books Anthropic allegedly pirated to train its AI
 Earlier Picks: 
Anna Ringstrom / Reuters:
Swedish streaming service Viaplay buys the remaining 50% stake in broadband and satellite TV provider Allente Group from Telenor for ~$113M
Foo Yun Chee / Reuters:
Sources: EU regulators plan a full-scale investigation into UMG's $775M acquisition of Downtown Music; UMG didn't provide remedies to address regulatory worries
 

 
From Techmeme:

Kurt Wagner / Bloomberg:
Sources: Meta is considering deep budget cuts to its metaverse efforts in 2026, potentially as high as 30% and most likely including layoffs as early as January

Kif Leswing / CNBC:
Apple says general counsel Kate Adams and policy chief Lisa Jackson will retire, and Jennifer Newstead, Meta's former chief legal officer, will replace Adams

Will Oremus / Washington Post:
Two studies suggest AI chatbots can shift political views more effectively than TV campaign ads, especially by presenting many claims, regardless of accuracy
 
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