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11:40 PM ET, July 22, 2026

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 Top News: 
Todd Spangler / Variety:
FCC Chairman Brendan Carr says ABC's decision to not carry Trump's July 16 speech about elections live will be part of its review for ABC-owned station licenses  —  Are TV broadcasters obligated to carry the U.S. president's comments live on their government-licensed airwaves?
Samuel Stolton / Bloomberg:
The European Commission grants conditional approval for Paramount's WBD acquisition as long as Paramount ends its EU distribution deal with Universal Pictures  —  Paramount Skydance Corp.'s $110 billion takeover of Warner Bros. Discovery Inc. won conditional approval from the European Union …
RELATED:
CJ Haddad / CNBC:
Reddit's stock closed down 8.32% after a report that the company was considering ending Google's access to its content for AI training; RDDT is down ~26% YTD  —  Shares of Reddit slid 9% on Wednesday after the Wall Street Journal reported the company has discussed shutting off Google's access …
RELATED:
Charlotte Tobitt / Press Gazette:
How major publishers in the UK are pivoting away from quantity of content towards quality as Google AI changes lead to falling traffic referrals  —  Hearst UK is publishing less articles but “more effective” content overall by asking journalists to explain why they are producing every piece.
Alexandra Bruell / Wall Street Journal:
Sources: Reddit, Politico, and others mull cutting Google's access to their content for AI as traffic drops; Reddit signed a $60M/year deal with Google in 2024
Todd Spangler / Variety:
Alphabet reports YouTube's Q2 ad revenue rose 13% YoY to $11.06B, vs. $10.8B est., and Google's ad revenue reached $81.63B, up from $71.34B in Q2 2025  —  Video giant YouTube, one of the world's biggest entertainment businesses, continues to turn in double-digit increases in ad revenue.
The Guardian:
A four-month probe reveals that employees of lobbying firm CT Group say they pay journalists to write news pieces favorable to CT clients for UK newspapers  —  Exclusive: Guardian investigation of CT Group uncovers practice that appears to seek hidden influence over public opinion
The Hollywood Reporter:
SEC filing: Primordial Soup, Darren Aronofsky's AI film and content studio, is raising $15M in cash, selling over $11M in equity so far since July 1  —  Primordial Soup, which launched last year, quietly filed with the SEC for a $15 million raise. … Earlier this month Primordial Soup Labs …
Discussion: The Wrap, Gizmodo, Deadline and Variety
Matthew Keys / TheDesk.net:
Scripps names Dean Littleton president of media, a new position overseeing local stations, national networks, and Scripps News, its streaming news service  —  The E.W. Scripps Company has promoted Dean Littleton to the role of President of Media, a newly created position that places …
Josh Gerstein / Politico:
A US judge rules that Trump must turn over detailed financial information of 400+ companies owned by a family trust in his defamation suit against the BBC  —  MIAMI, Florida- A federal magistrate judge ruled Tuesday that President Donald Trump must turn over detailed financial information …
State of California:
California's Rob Bonta and a 13-state group challenge the appointment of current and recent Nexstar personnel to Tegna's board, after a preliminary injunction  —  - Attorney General Bonta to Court: Nexstar/Tegna Violating Co...  Contact: (916) 210-6000, agpressoffice@doj.ca.gov
James Faris / Business Insider:
Sources: Paramount+ is planning to test adding micro dramas in its mobile app in the coming months to drive visit frequency and keep people engaged for longer  —  Paramount+ is preparing to add micro dramas to its app in the coming months, Business Insider has learned.
 
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 More News: 
Aric Mackey / Facebook:
John C. Dvorak, an early technology journalist best known for his column in PC Magazine and his groundbreaking work on the No Agenda podcast, has died
Mark Landler / New York Times:
France becomes the first European country to pass a law banning social media access for users under 15, which could go into effect as soon as September 1
 Earlier Picks: 
Oliver Darcy / Status:
Source: Clarissa Ward signed just a one-year CNN extension, not a long-term contract, amid friction with executives and concerns over Bari Weiss taking control
Anushka Chourasia / Reuters:
UK publisher Bloomsbury says it is among the beneficiaries of the $1.5B Anthropic settlement; 14,087 of its titles are covered, with ~$3K in compensation each
 

 
From Techmeme:

Alphabet:
Alphabet reports Q2 revenue up 24% YoY to $119.8B, above $116.9B est., Google Cloud revenue up 82% YoY to $24.8B, and Services revenues up 15% to $94.5B

Director Michael Kratsios / @mkratsios47:
White House OSTP Director Michael Kratsios says “we have information that Moonshot AI distilled Anthropic's Fable for the development of its K3 model”

Bloomberg:
Sources: OpenAI models breached Hugging Face's internal systems in a matter of hours, a feat that would typically have taken a talented hacker a couple of weeks
 
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