Chinese streamer iQiyi reports Q2 revenue down 5% YoY to ~$1.04B and net profit down 80% YoY to ~$9.6M, as subscription revenue shrinks for a second quarter (Patrick Frater/Variety)

Mediagazer: Chinese streamer iQiyi reports Q2 revenue down 5% YoY to ~$1.04B and net profit down 80% YoY to ~$9.6M, as subscription revenue shrinks for a second quarter (Patrick Frater/Variety)

Top News:

New York Times:

Sources: Paramount extends its deadline for sales talks until early September to evaluate Edgar Bronfman Jr.'s new bid, which could shake up the Skydance deal— Edgar Bronfman Jr. and his bidding group now have until September to sell Paramount on their offer.
Discussion: The Special Committee …, The Media Leader, Axios, CNBC, The Desk, Los Angeles Times, Business Insider, Deadline, Advanced Television, Broadband TV News, The Wrap, Commercial Observer, AV Club, Front Office Sports, New York Post, Sportico, Financial Times, The Streamable, Media Play News and The Hill

Discussion:
The Special Committee of the Board …: PARAMOUNT GLOBAL'S SPECIAL COMMITTEE ANNOUNCES RECEIPT OF ACQUISITION PROPOSAL AND 15-DAY EXTENSION OF “GO SHOP” PERIOD TO CONTINUE ENGAGEMENT

Sabrina Quagliozzi /
The Media Leader: Bronfman sweetens bid for National Amusements, Paramount Stake

Matthew Keys /
The Desk: Bronfman raises bid for Paramount, now offers $6 billion Deadline: Paramount Merger Saga Continues: Go-Shop Period Extended As Edgar Bronfman Vies With Skydance, Boosts His Offer To $6B

Robert Briel /
Broadband TV News: Edgar Bronfman Jr increases last-minute bid for Paramount Global to $5.5 billion

Tess Patton /
The Wrap: Paramount Shareholder Mario Gabelli Doesn't See a Negative in Granting Potential Bronfman Bid Extension

Astaropoli /
Commercial Observer: Edgar Bronfman Jr. Challenges Skydance-Paramount Merger With $4.3B Bid

Mary Kate Carr /
AV Club: A rogue billionaire enters the Paramount sale conversation

Eric Fisher /
Front Office Sports: New $4.3 Billion Paramount Bid Puts Future of CBS Sports in the Balance

Alexandra Steigrad /
New York Post: Bidding war erupts over Paramount as Edgar Bronfman submits $4.3B competing offer

Anthony Crupi /
Sportico: Fubo Butterfly Effect May Hinder Bronfman Paramount Plan

Erik Gruenwedel /
Media Play News: Investor Edgar Bronfman Jr. Offers $4.3 Billion Bid For Paramount Global

Dominick Mastrangelo /
The Hill: Edgar Bronfman Jr. makes multi-billion dollar bid for Paramount

RELATED:
Wall Street Journal:

Sources: Edgar Bronfman Jr. raises his Paramount bid to $6B, adding $1.7B to let non-Redstone, nonvoting Paramount shareholders cash out at $16 a share— The bid gives non-Redstone, nonvoting Paramount shareholders an option to sell shares at a premium — Edgar Bronfman Jr. has sweetened …

Discussion:

Rick Howe /
Rick Howe on LinkedIn: As I said yesterday, This feels like a #BreakUp Strategy. Certainly Skydance would have discarded some non-strategic assets. But methinks …

Jessica Toonkel /
Jessica Toonkel on LinkedIn: Things are getting interesting in Paramount land. Edgar Bronfman Jr ups his offer, including a tender offer to nonvoting shareholders. …

Erik Gruenwedel /
Media Play News: Paramount Extends Acquisition Bid Window 15 Days as Bronfman Ups Offer to $6 Billion

Lucas Manfredi /
The Wrap: Paramount Extends Negotiating Window As Edgar Bronfman Jr. Raises Bid to $6 Billion

Todd Spangler /
Variety: Edgar Bronfman Jr. Boosts Paramount Bid to $6 Billion, Board Extends Deal-Negotiation Period

Jill Goldsmith /
Deadline: Edgar Bronfman Jr. Sweetens Bid For Paramount To $6 Billion The Wrap: Document: Edgar Bronfman Jr.'s Paramount bid is backed by a group of 19 investors including Fortress, Brock Pierce, and producer Steven Paul

Jessica Toonkel /
Jessica Toonkel on LinkedIn: NEW: Bronfman's bid for Paramount is in. He matches Skydance in offer for NAI at $1.75 billion in equity and offers around $1.5 billion on Paramount's balance sheet. …

Rocio Fabbro /
Quartz: Edgar Bronfman wants to buy Paramount for $4.3 billion — and take it away from Skydance

The Hill:

Judy Woodruff apologizes for saying she had read reports that Trump urged Israel's PM not to cut a deal to end fighting in Gaza because it would help Harris— PBS NewsHour senior correspondent Judy Woodruff issued an apology Wednesday after her comments about former President Trump's role in Gaza cease-fire talks sparked criticism.

Discussion:
@judywoodruff, Poynter, Reuters, MSNBC, @jeremyschulman, The Daily Wire, New York Post, Fox News, Mediaite and New Republic

Discussion:

Judy Woodruff /
@judywoodruff: I want to clarify my remarks on the PBS News special on Monday night about the ongoing cease fire talks in the Middle East. As I said, this was not based on my original reporting; I was referring to reports I had read, in Axios and Reuters, about former President Trump having

Jeremy Schulman /
@jeremyschulman: I hope we get similar apologies from all the influential people — journalists and others — who portrayed this video as some sort of substantive scoop from PBS without asking even basic questions about the sourcing.

Ryan Saavedra /
The Daily Wire: PBS News Reporter Retracts False Claim That Trump Tried To Sabotage Israel Hostage Deal

Katherine Donlevy /
New York Post: PBS' Judy Woodruff apologizes for falsely telling live audience Trump tried to talk Israel out of cease-fire deal Fox News: PBS host apologizes for reporting Trump pressed Netanyahu to abandon hostage deal: ‘This was a mistake’

Zoe Engels /
Mediaite: PBS Correspondent Issues Apology for Comments About Trump Interference in Gaza Ceasefire Talks

Ellie Quinlan Houghtaling /
New Republic: Trump's Latest Scheme to Beat Harris May Have Crossed Legal Lines

Deadline:

Sources: Chick-Fil-A plans to launch a slate of original media productions for its own streaming platform and has worked with studios on family-friendly shows— Deadline understands that the fast-food firm has been working with a number of major production companies, including some of the studios …

Discussion:
The Verge, The Hill, Los Angeles Times, Mashable, @mikeorren, @deadline, Too Much TV Newsletter, Axios, @mfg_iwpj, @deadline, @c_a_huggins, The Overspill, @cafastfoodunion, @chrisvalentino0, @deadline, @kennysmith.bsky.social, Variety, Ars Technica, Vibe, @kennysmith@mstdn.social, @LilahTovMoon@tech.lgbt, CBR, Vanity Fair, AV Club, @sleestak.bsky.social, The Daily Beast, The Desk, Streaming Better, @acidrains.bsky.social, Quartz, SlashFilm, The Media Leader and Cord Cutters News

Discussion:

Charles Pulliam-Moore /
The Verge: Chick-fil-A is reportedly launching a streaming service for some reason

Rich Johnson /
The Hill: Chick-fil-A reportedly launching its own streaming platform

Caroline Petrow-Cohen /
Los Angeles Times: Chick-fil-A to launch new streaming service, report says

Mike Orren /
@mikeorren: I don't know about this, but I'm all for every neighborhood pizzeria having a public access talk show. @deadline: Deadline understands that the fast-food firm has been working with a number of major production companies, including some of the studios, to create family-friendly shows, particularly in the unscripted space https://deadline.com/...

Rick Ellis /
Too Much TV Newsletter: Too Much TV: Your TV Talking Points For Wednesday, August 21st, 2024

@deadline:
It is also in talks to license and acquire content. We hear that this includes a family-friendly gameshow from Glassman Media and Michael Sugar's Sugar23. Deadline understands this show has been handed a ten-episode order https://deadline.com/...

Charlesarthur /
The Overspill: Start Up No.2273: Harris v Trump online, the car park solar solution, Medium makes a profit, self-driving taxi night ballet, and more @cafastfoodunion: @DEADLINE Chick-Fil-A was prepared to spend over $11 million to get out of paying us $20/hour. Now they're funding a trade association who is lobbying local electeds to stop us from knowing our rights while running a PR campaign to ensure we don't get another raise.

Chris Valentino /
@chrisvalentino0: @DEADLINE There's a lot at steak here. They should focus on what they create in-house and not try to ruffle any feathers. They don't want any beef with these stream services. [image]

@deadline:
Budgets on the unscripted side are believed to be in the range of $400,000 per half-hour. Sources told us the idea is to launch later this year and there's also talk of scripted projects and animation. MORE: https://deadline.com/...

Kenny Smith /
@kennysmith.bsky.social: Generally speaking, the best brand extensions address a genuine consumer need and have a clear value proposition that differentiates them from competitors. — Anything else, like this, runs the risk of being a brand overextension. [embedded post]

Scharon Harding /
Ars Technica: Chick-fil-A plans to launch streaming service with original shows

James R. Sanders /
Vibe: Chick-Fil-A Is Greasing It's Way Into The Streaming Business

Kenny Smith /
@kennysmith@mstdn.social: Generally speaking, the best brand extensions address a genuine consumer need and have a clear value proposition that differentiates them from competitors. — Anything else, like this, runs the risk of being a brand overextension. — From: @Mediagazer — https://mstdn.social/...

Shoshana /
@LilahTovMoon@tech.lgbt: Hahaha, the Onion is so funny...wait, this isn't the Onion. This is real? 😭 — Chick-Fil-A Hatches Plans For Streaming Service As Reality TV Comes Home To Roost — https://deadline.com/...

Darren Okafor /
CBR: Chick-fil-A Fast Food Restaurant Launching New Streaming Service

Chris Murphy /
Vanity Fair: Um, Chick-Fil-A Is Starting a Streaming Service?

Emma Keates /
AV Club: Chick-fil-A's streaming service sounds like a Community gag, but it's mother clucking real @sleestak.bsky.social: Isn't there enough anti-gay programming and hate speech on TV already? [embedded post]

Matthew Keys /
The Desk: Chick-Fil-A readies launch of streaming TV platform

Stephanie Rains /
@acidrains.bsky.social: I'm sorry, what?? [embedded post]

BJ Colangelo /
SlashFilm: Chick-Fil-A Is Launching A Streaming Platform And No, This Is Not A Joke, Sorry

Sabrina Quagliozzi /
The Media Leader: Chick-fil-A cooks up new streaming service

Vulture:

Lionsgate recalls its trailer for Francis Ford Coppola's Megalopolis that used fake quotes from multiple critics, and apologizes “for this inexcusable error”— Since this story published, Lionsgate has taken the trailer down and issued an apology: “Lionsgate is immediately recalling our trailer for Megalopolis.

Discussion:
Variety, The Guardian, British GQ, New York Times, @bilgeebiri, Mashable, Associated Press, CBR, @bilgeebiri, AV Club, Newser, The Daily Beast, The Verge, Boing Boing, IndieWire, Consequence, USA Today, The Hollywood Reporter, Deadline, Empire, The Wrap, ComingSoon.net, Screen Rant, HuffPost, New York Daily News, Inverse, Digital Trends, The Indian Express and Rolling Stone

Discussion:

Katcy Stephan /
Variety: Lionsgate Pulls ‘Megalopolis’ Trailer Offline Due to Made-Up Critic Quotes and Issues Apology: ‘We Screwed Up’

Bilge Ebiri /
@bilgeebiri: Because if it *was* ChatGPT, that company is out here selling its services and, frankly, people should know its cars are exploding on the roads.

Bilge Ebiri /
@bilgeebiri: The trailer for Francis Ford Coppola's MEGALOPOLIS features a history of dismissive quotes from noted critics about the director's earlier masterpieces. There's one problem, however. The quotes appear to be made up. https://www.vulture.com/...

Darren Okafor /
CBR: ‘We Screwed Up’: Lionsgate Admits Fault as Megalopolis Trailer Quotes Are Revealed as Fake

Bilge Ebiri /
@bilgeebiri: Update:

Bilge Ebiri /
@bilgeebiri: Btw I appreciate the fact that Lionsgate pulled the trailer and apologized to the critics and to FFC (who I doubt had anything to do with cutting the trailer). I'd still like to know HOW this happened, however.

William Hughes /
AV Club: Lionsgate apologizes after getting caught faking Megalopolis trailer quotes

Bob Cronin /
Newser: Studio Pulls Trailer With Invented Quotes

Jay Peters /
The Verge: The bad movie reviews quoted in Lionsgate's Megalopolis trailer were mostly made up

Wren Graves /
Consequence: It Definitely Looks Like the Megalopolis Trailer Uses Fake Quotes Hallucinated by ChatGPT

Cory Woodroof /
USA Today: The controversy surrounding the Megalopolis trailer and its fake review quotes, explained

Aaron Couch /
The Hollywood Reporter: Lionsgate Pulling ‘Megalopolis’ Trailer Featuring Fake Movie Critic Quotes

Matt Grobar /
Deadline: Lionsgate Recalling ‘Megalopolis’ Trailer Amid Fabricated Quote Controversy: “We Screwed Up”

Jordan King /
Empire: Megalopolis Trailer: Francis Ford Coppola Aims To Pass The Test Of Time With Adam Driver Sci-Fi Epic

Drew Taylor /
The Wrap: Lionsgate Recalls ‘Megalopolis’ Trailer After Apparently Making Up Quotes: ‘We Screwed Up’

Matthew Rudoy /
Screen Rant: The Godfather & Apocalypse Now Review Quotes In Megalopolis Trailer Are Seemingly Fake

Daniel Welsh /
HuffPost: The Trailer For Francis Ford Coppola's New Movie Has Been ‘Pulled’ For This 1 Bizarre Reason

Evan Rosen /
New York Daily News: ‘Megalopolis’ trailer pulled offline due to made-up critics quotes

Tamil Cinema /
The Indian Express: Megalopolis trailer: Francis Ford Coppola's fable set in a surreal world appears to be his boldest work yet

New York Times:

The FBI has raided the homes of two US commentators for Russian state media in an effort to blunt foreign influence on elections; more searches are expected— The F.B.I. raided the homes of two prominent commentators on Russian state television channels as part of an effort to blunt attempts to influence November's election.

Discussion:

Michael Bishop /
@michaelbishop.me: excuse me? [embedded post]

Kanishka Singh /
Reuters: FBI searched homes of two Americans with ties to Russian state media

Kim Perales /
@KimPerales@toad.social: The DOJ has begun a broad criminal investigation into Americans who have worked with RU's state TV networks -to combat the Kremlin's influence ops. leading up to the pres. election in Nov. — This month, FBI agents searched the homes of S Ritter, a former UN weapons inspector & critic of American foreign policy, & DK Simes, an adviser to #TFG's 1st pres. campaign in 2016. … @researchbuzz@researchbuzz.masto.host: #politics #FBI #Russia #disinformation #propaganda #InformationWarfare #GiftArticle — 'The Department of Justice has begun a broad criminal investigation into Americans who have worked with Russia's state television networks, signaling an aggressive effort to combat the Kremlin's influence operations leading …

Laffy /
@GottaLaff@mastodon.social: 👀"DOJ has begun a broad criminal investig into Americans who have worked w #Russia's state TV networks, signaling aggressive effort to combat Kremlin's influence ops leading up to pres election... … Rappahannock News: FBI raids Rappahannock County property owned by Russian-American policy analyst Dimitri Simes

Dan Murphy /
@bungdan.bsky.social: In his 20s, Simes worked for Nixon. Ran a Nixon-founded think tank for 20yrs, a job he quit after Trump lost. He was a Trump foreign policy advisor and stuffed in all the pro-Russia/anti-Ukraine crap into the GOP platform in 2016. Openly works for the Kremlin now. — www.rferl.org/a/simes-fbi-...

Politico:

Google and California strike a deal to jointly contribute $125M+ over five years to support local news; the deal also includes support for an AI project— The California agreement includes funding for artificial intelligence, a technology many journalists fear could replace their jobs.

Discussion:
Media Nation, KQED, a14.asmdc.org, CalMatters, Los Angeles Times, @eytanwallace, The Information, @gaufre, MediaPost, @jamesqueallylat, @jeffjarvis, @eytanwallace, Engadget, New York Times, CNN, @davidfolkenflik and @eytanwallace, more at Techmeme »

Discussion:

Dan Kennedy /
Media Nation: California's proposed deal with Google to support local news comes under criticism

Erin Ivie /
a14.asmdc.org: Assemblymember Wicks secures agreement with State, major tech companies to support the work of California journalists

Jeanne Kuang /
CalMatters: California tried to make Google pay news outlets. The company cut a deal that includes funding AI

Laurel Rosenhall /
Los Angeles Times: Deal reached in feud between California news outlets and Google: $250 million to support journalism but no new law

Eytan Wallace /
@eytanwallace: @MediaGuildWest @Steve_Glazer Glazer believes the funding in the deal is not enough to prevent mass layoffs we have seen across the local news industry. @gaufre: We don't support the backroom @BuffyWicks deal. It's giving taxpayer dollars to AI startups and hedge funds. America's journalists did not sign up for that.

Laurie Sullivan /
MediaPost: Google Signs Deal To Serve Digital News Content, Funding California Media

James Queally /
@jamesqueallylat: This is not a deal. It's capitulation. Any legislator who campaigns off this later saying they tried to save local journalism is lying to you. @jeffjarvis: Breaking news: The two protectionist bills for the news industry in California are superseded by a negotiated deal with Google (and, I hope, more tech companies), creating a fund, which is what I advocated in my testimony. in Sacramento. https://a14.asmdc.org/...

@jeffjarvis:
I am proud to have been involved in this process, testifying in Sacramento, talking with legislators and aides, and researching a paper on the bills that proposed a solution such as this. A fund is preferable for it involves goals and accountability.

Eytan Wallace /
@eytanwallace: @MediaGuildWest @Steve_Glazer Senate President Pro Tempore @ilike_mike (D-North Coast) expresses concerns with the deal: “We have concerns that this proposal lacks sufficient funding for newspapers and local media, and doesn't fully address the inequities facing the industry...” Full statement: [image]

Eytan Wallace /
@eytanwallace: @MediaGuildWest @Steve_Glazer Statement from Gov. Gavin Newsom: “This agreement represents a major breakthrough in ensuring the survival of newsrooms and bolstering local journalism across California — leveraging substantial tech industry resources without imposing new taxes on Californians.”

Eytan Wallace /
@eytanwallace: On a ZOOM call, Matt Pearce of the @MediaGuildWest says this deal “is bad for journalists.” “I'm worried this deal actually causes harm to journalists,” he said. This is “willfully short of what Google should be providing,” said Sen. @Steve_Glazer (D-Orinda).

Liam Reilly /
CNN: Google agrees to first-in-the-nation deal to fund California newsrooms, but journalists are calling it a disaster

David Folkenflik /
@davidfolkenflik: Some journos do not love this Google deal

Eytan Wallace /
@eytanwallace: JUST IN: Asm. @BuffyWicks (D-Oakland), Gov. @GavinNewsom, & @Google announce deal to provide nearly $250 million in public and private funding to newsrooms over the next 5 years. Supporters say this will provide ongoing financial support to newsrooms across CA & invest in AI.

Variety:

Chinese streamer iQiyi reports Q2 revenue down 5% YoY to ~$1.04B and net profit down 80% YoY to ~$9.6M, as subscription revenue shrinks for a second quarter— China-based video streaming company iQiyi recorded a 5% decrease in revenue in the second quarter and an 80% plunge in net profits.

The Guardian:

David Anderson, head of the Australian Broadcasting Corporation, plans to step down in 2025 after ABC finds a managing director, after a 35-year career at ABC— In a note to staff Anderson - who was first appointed to role in 2019 - says it was an honour and privilege to lead the ABC

Discussion:

Neil Griffiths /
Mumbrella: ABC managing director set to depart national broadcaster

Reuters:

Russia's FSB opens criminal cases against British CNN reporter Nick Paton Walsh and two Ukrainian journalists for illegally entering Russia to report from Kursk— Russia's FSB security service said on Thursday it had opened a criminal case against a journalist working for CNN …

Discussion:
Al Jazeera and Politico

Discussion:

John T Psaropoulos /
Al Jazeera: Russia faces manpower woes after failing to stop Ukraine's Kursk incursion

Seb Starcevic /
Politico: Russia accuses top CNN reporter of illegally crossing border

The Hollywood Reporter:

Rotten Tomatoes debuts a Verified Hot badge for films that have a Verified Audience Score of 90% or higher, among other requirements— Movies that are ‘Verified Hot’ by filmgoers will join those that are ‘Certified Fresh’ from critics, in a move meant to give more weight to consumer opinions …

Discussion:

Hannah Strong /
@thethirdhan: decided to look at the list of films RT has decided to highlight. great stuff here [image]

Cameron Frew /
Dexerto: Rotten Tomatoes reveals divisive change to scores that gives fans more power

Jacob Ethington /
@jacobtalks4ever: Well, there's no way this doesn't incentivize review-bombing in the opposite direction just to land a “Verified Hot” badge thereby making online fandom behavior even more insane than it already is. Certainly that won't happen.

Justin Carter /
@gigawattconduit: There's so much effort being done to devalue critical opinions instead of teaching people to just accept that not everything's gonna be widely liked and you'll be Fine regardless https://editorial.rottentomatoes.com/ ... @screenslate: Congratulations to all the piece-of-shit Verified Hot movies on their loser participation trophies

Jason Blagman /
Jason Blagman on LinkedIn: Proud to share the launch of Verified Hot, honoring films with the highest verified audience scores on Rotten Tomatoes. …

Dan Lee /
Dan Lee on LinkedIn: Incredibly proud of our Rotten Tomatoes team for the launch of the new Verified Hot badge! This badge will spotlight the films that moviegoers love. …

Emma Keates /
AV Club: Critics lose more ground as Rotten Tomatoes adds audience-generated “Popcornmeter” badge

Brennan Klein /
Screen Rant: Rotten Tomatoes' New Audience Score Explained: Popcornmeter & Verified “Hot” Ratings

Charles Barfield /
The Playlist: Rotten Tomatoes Using New ‘Verified Hot’ Badge For User Ratings

Jeremy Mathai /
SlashFilm: Rotten Tomatoes Just Introduced A New ‘Verified Hot’ Label - Here's What It Means

Monica Coman /
CBR: Rotten Tomatoes Introduces New Badge for High Audience Scores

Drew Taylor /
The Wrap: Rotten Tomatoes Adds New ‘Verified Hot’ Audience Badge for Fan-Approved Movies

Diego Ramos Bechara /
Variety: Rotten Tomatoes Launches New ‘Verified Hot’ Badge for Audience Reviews

Stephanie Prange /
Media Play News: Rotten Tomatoes Unveils ‘Verified Hot’ Audience Badge

Dexerto:

Twitch plans to raise its new Tier 1 sub and gift sub prices on mobile in 40+ countries on October 1; in an email, Twitch says Tier 1 will rise by $2 to $7.99— Twitch has announced yet another increase to the price of subs after already raising the cost earlier in the summer.

Discussion:
9to5Mac, Neowin, @twitchsupport, PhoneArena, Engadget and The Verge, more at Techmeme »

Discussion:

Omer Dursun /
Neowin: Twitch quietly raises subscription prices on mobile @twitchsupport: 📱 Starting October 1, we're increasing new Tier 1 sub and gift sub prices on the mobile app in over 40 countries. 🔴 You can bring your questions to Patch Notes today, August 21 at 12pm PT. 📬 We are notifying streamers and subscribers in these countries via email.

Jay Peters /