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9:55 AM ET, May 7, 2026

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 Top News: 
Tony Maglio / The Hollywood Reporter:
WBD reports Q1 revenue up 3% YoY to $8.9B, a net loss of $2.9B, largely due to Netflix's breakup fee, ad revenue down 8%, streaming up 7%, global subs hit 140M+  —  Here's what you're getting, Paramount.  —  It's a new year for Warner Bros. Discovery, and likely its last one as we know (and love?) it.
Associated Press:
A look back at Ted Turner's invention of global 24-hour cable TV news and how it dramatically changed politics, journalism, and civic engagement  —  When the Space Shuttle Challenger exploded in 1986, Beth Knobel, a future TV news correspondent, was in graduate school.
RELATED:
CNN:
Ted Turner, a pioneer of 24-hour cable TV news who founded CNN, dies at 87; the Ohio-born Atlanta businessman eventually sold his networks to Time Warner
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Murray Stassen / Music Business Worldwide:
ElevenLabs, creator of Eleven Music, says it crossed $500M in ARR and announces new investors including BlackRock and Jamie Foxx as part of a $550M+ Series D  —  ElevenLabs says it has crossed $500 million in annual recurring revenue, up from $350 million at the end of 2025.
Joshua Benton / Nieman Lab:
Australia's NBI incentivizes Google, Meta, and TikTok to bargain with news outlets, but should just distribute money levied from the platforms  —  Its proposed replacement for the News Media Bargaining Code retains its original sin: pretending that a public policy decision is actually just a little nudge to help the free market.
Lizbeth Diaz / Reuters:
UK-based journalist advocacy group Article 19 says eight journalists disappeared or were murdered in Mexico in 2025; four journalists were murdered in 2024  —  Eight journalists disappeared or were murdered in Mexico in 2025, the UK-based journalist advocacy group Article 19 said in a report published …
Discussion: Middle East Monitor
Charlotte Klein / New York Magazine:
Some NYT staffers say a white male editor's claim that he faced discrimination is absurd and hands the Trump administration a weapon to persecute journalists  —  A white male New York Times employee filed a complaint with the Equal Employment Opportunity Commission alleging the paper …
Charlotte Tobitt / Press Gazette:
Axios' total Q1 content output was down 22% YoY, but page views rose 30% and page views per visitor rose 22%, as the outlet shifts away from chasing traffic  —  Axios output in Q1 was down 22% compared to a year earlier but page views were up 30%.  —  US newsbrand Axios has cut its output …
Discussion: Acast
Naman Ramachandran / Variety:
Amazon plans to merge MX Player into Prime Video in India, combining free and paid streaming catalogs on a single platform over the next few months  —  Amazon MX Player is being absorbed into Prime Video, combining India's free and paid streaming catalogs under a single platform.
Mandy Dalugdug / Music Business Worldwide:
Filing: music industry organizations oppose a proposed 43% average increase to US Copyright registration fees, say the hike would lock out independent creators  —  A group of ten music industry organizations formally opposed a proposed 43% average increase to copyright registration fees …
Jennifer Maas / Variety:
Survey: 59% of Gen Z streaming app users in the US, the UK, and Australia add and drop a service to view a movie or series; 71% stopped buying physical music  —  But younger viewers are 13% more likely to go to the movies on opening weekend  —  Gen Z is unsubscribing …
Max Tani / Semafor:
Sources: Julie K. Brown's Epstein work didn't win a Pulitzer in 2018 due to at least one juror's concerns; this year's citation is seen as a “corrective”  —  The Scoop  —  A years-old fight among the judges of one of the most coveted prizes in media over a major investigation …
 
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 More News: 
Mark Stenberg / Adweek:
Ziff Davis acquires PopSci, Dwell, Business of Home, and Domino from Recurrent Ventures; one M&A executive estimated the price of the deal at less than $20M
Kelcee Griffis / Bloomberg:
Brendan Carr says an FCC inquiry into media sports rights might not lead to new rules; Fox and Sinclair have filed comments supporting sports on broadcast TV
Discussion: Awful Announcing
Jonathan Vanian / CNBC:
Snap reports Q1 revenue up 12% YoY to $1.53B, in line with est., and says it ended its $400M Perplexity deal announced in November; SNAP drops 4%+
Elvira Pollina / Reuters:
Sky Italia sues Telecom Italia and DAZN, seeking up to €1.9B in damages, after Italy found TIM/DAZN deal for Serie A soccer matches violated antitrust rules
Discussion: Telecompaper and TVBEurope
Lucas Shaw / Bloomberg:
Sources: Sony is in talks to acquire Recognition Music Group, which includes works of Justin Bieber and Neil Young, from Blackstone for between $3.5B and $4B
 Earlier Picks: 
Michael Savage / The Guardian:
WSJ EIC Emma Tucker says powerful figures are increasingly using the “PR strategy” of suing media outlets before they have even published a story
Ken Dilanian / MS NOW:
Sources: the FBI launched a criminal leak investigation into Atlantic journalist Sarah Fitzpatrick after her report on Director Kash Patel's alcohol consumption
 

 
From Techmeme:

The Information:
Sources: Amazon CEO Andy Jassy is among tech leaders who raised concerns with Trump officials about Mythos 5, setting in motion new export restrictions

Robert Armstrong / Financial Times:
How the AI boom is revolutionizing US stock markets, as hyperscalers cut buybacks and boost capex, including Alphabet's planned ~$85B in equity offerings for AI

Financial Times:
Companies are grappling with whether and how to curb employee wagers on prediction markets that may use confidential info, as platforms tighten their own rules
 
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