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5:55 PM ET, May 5, 2026

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 Top News: 
Jessica Toonkel / Wall Street Journal:
Sources: James Murdoch's Lupa Systems is in advanced talks to buy Vox Media's New York Magazine and podcast division  —  A deal, which isn't finalized, would go through Murdoch's Lupa Systems investment company  —  Media investor James Murdoch is in advanced talks to buy Vox Media's …
Angelique Chrisafis / The Guardian:
A French parliament inquiry report calls for 25% cuts to public broadcasting and more; the far right plans to privatize public broadcasting if elected in 2027  —  Inquiry set up by rightwing politician recommends merging major channels and slashing TV entertainment budgets by 75%
Erik Wemple / New York Times:
The reporting of Hannah Natanson, whose home was searched in connection with a federal leak probe, anchored WaPo's winning entry for the public service Pulitzer  —  Hannah Natanson's reporting anchored a package of articles from The Washington Post that won a Pulitzer on Monday, four months after agents seized her devices.
Nicola M White / Bloomberg:
Elon Musk agrees to pay $1.5M to settle US SEC allegations that he cheated Twitter shareholders in 2022 by not disclosing the 5%+ stake he had in the company  —  Elon Musk agreed to pay $1.5 million to settle Securities and Exchange Commission allegations that he cheated Twitter shareholders …
Jason Zinoman / New York Times:
Q&A with David Letterman on his “disbelief” at The Late Show ending, CBS citing financial reasons to cancel it, Byron Allen, his favorite memories, and more  —  He no longer feels a sense of ownership, but the program's former host has harsh words for the network.
Nellie Andreeva / Deadline:
CBS' Tracker is moving production from Vancouver to Los Angeles for Season 4 after receiving a $48M California tax credit, the biggest ever for a series  —  Its studio 20th Television is currently locking down production facilities in and around L.A., with filming on Season 4 slated to begin in late June.
Alice Brooker / Press Gazette:
Axios says Axios Local will expand from 35 to 43 US cities by 2026's end and paying members more than doubled to 15K since 2025's end, as it seeks profitability  —  Axios will have a local newsletter in 43 US cities by the end of 2026 as it continues to expand.
Alexandra Alter / New York Times:
Hachette, Macmillan, McGraw Hill, Elsevier, and Cengage, alongside novelist Scott Turow, file a class-action copyright lawsuit against Meta and Mark Zuckerberg  —  The class-action lawsuit accuses the tech giant and its founder and chief executive of infringing on authors' copyrights.
Christiana Sciaudone / A Media Operator:
People Inc. reports Q1 revenue down 2% YoY to $385.7M, adjusted EBITDA down 46% to $43.5M, digital revenue up 8% YoY to $253.2M, unique site visits fell 18%  —  People Inc.'s overall revenue fell for the first quarter as losses continued at parent company IAC.
Discussion: Benzinga
Todd Spangler / Variety:
Paramount expects “significantly lower theatrical revenue” in 2026 due to lower average box office per film, despite committing to 30 annual releases with WBD  —  Paramount Skydance has nearly doubled its theatrical-film slate in 2026 — but it will see “significantly” …
RELATED:
Lillian Rizzo / CNBC:
Paramount reports Q1 revenue up 2% YoY to $7.35B, above $7.28B est., DTC revenue up 11% YoY to $2.4B, and Paramount+ subscribers up 700K QoQ to 79.6M
RELATED:
Ted Johnson / Deadline:
A number of 2026 Pulitzer wins reflected the fallout from President Trump's second term, recognizing coverage of conflicts of interest, ICE raids, and more
 
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 More News: 
Jonathan Stempel / Reuters:
The US EEOC sues NYT in Manhattan federal court, claiming it passed over a qualified white male candidate for a top editorial role to fulfill diversity goals
 Earlier Picks: 
Josephine Walker / Axios:
How the BookTok community is reshaping streaming as studios turn to influential creators and fanbases, placing their bets on book adaptations to win viewers
Media Matters for America:
Media Matters settles with the FTC, and says the FTC agreed to “forgo future investigations of MMFA”; the FTC confirms Media Matters isn't under any probe
Javier Córdoba / Associated Press:
Costa Rican outlet La Nación says the US revoked several board execs' visas without explanation, after critical coverage of President Chaves, a close Trump ally
Gene Maddaus / Variety:
Blake Lively and Justin Baldoni settle their legal battle over the 2024 film It Ends With Us, avoiding a federal trial that was scheduled to begin in two weeks
 

 
From Techmeme:

Amrith Ramkumar / Wall Street Journal:
President Trump signs two executive orders aimed at speeding the development of advanced quantum computers and mitigating the security threats they present

Bloomberg:
Sources: Tencent is negotiating exits from minority investments in game studios in Japan, such as Tokyo-traded Marvelous, as it reassesses its global portfolio

Chloe Taylor / CNBC:
South Korea's tech-heavy Kospi index falls 10%, dragged down by SK Hynix and Samsung; STMicro and ASML fall ~7%, and US tech stocks fall in pre-market trading
 
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