IAC reports Q2 revenue down 15% YoY to $949.5M and profit up 24% YoY to $87.3M; Dotdash Meredith reports revenue up 3% YoY to $425.2M and ad revenue up 16% YoY (Juby Babu/Reuters)

Mediagazer: IAC reports Q2 revenue down 15% YoY to $949.5M and profit up 24% YoY to $87.3M; Dotdash Meredith reports revenue up 3% YoY to $425.2M and ad revenue up 16% YoY (Juby Babu/Reuters)

Top News:

TechCrunch:

Reddit says it plans to test AI-powered search result pages later in 2024, using a combination of first-party and third-party tech to power the feature— Reddit users will soon see AI-generated summaries at the top of search results. — Reddit co-founder and CEO Steve Huffman told investors during …
Discussion: PhoneArena, Engadget and @karissabe@threads.net, more at Techmeme »

Discussion:

Tsveta Ermenkova /
PhoneArena: Reddit to experiment with AI-powered search results and paid subreddits

Karissa Bell /
Engadget: Reddit CEO teases AI search features and paid subreddits

Karissa /
@karissabe@threads.net: On reddit's earnings call just now, Steve Huffman says the company will begin testing new AI-powered search results later this year. “Later this year, we will begin testing new search result pages powered by AI to summarize and recommend content, helping users dive deeper into product, shows, games and discover new communities on Reddit.”

RELATED:
CNBC:

Reddit reports Q2 revenue up 54% YoY to $281.2M, vs. $254M est., Daily Active Uniques up 51% YoY to 91.2M, and net loss down from $41.1M in Q2 2023 to $10.1M— Reddit reported second-quarter results on Tuesday that topped analysts' estimates. — Here are the key numbers:

Discussion:
@jonathan_vanian_1@threads.net: Reddit COO Jen Wong says Ad market is “stable.” But, “there are real election jitters. We did see some pauses in the UK around the [recent] election. We saw pauses around times of Trump rally shooting. So I think there's a lot of caution. …

Gordy H. /
Gordy H. on LinkedIn: Reddit, Inc. announced Q2 Earnings today and the results were stellar! 🚀 — Highlights Include: —Both users and revenue grew over 50% …

Martin Peers /
The Information: Reddit Reports 54% Revenue Growth in Q2

Wall Street Journal:

Sources: the NBA's deal with Amazon has several provisions that WBD can't match, including promotion of the NBA during Amazon's NFL streaming telecasts— League's media deal with tech giant included provisions Warner couldn't match, setting stage for legal fight

Discussion:
Sports Media Watch and USA Today

RELATED:

Variety:

Charles Barkley, a mainstay of TNT's Inside the NBA, reverses plans to retire and says he will keep working with WBD, which is fighting to keep NBA media rights— Charles Barkley says he isn't getting out of Warner Bros. Discovery's sports game. — The roundball great …

Discussion:
New York Times, Pressroom, Fox News, Brian Steinberg on LinkedIn, Los Angeles Times, Awful Announcing, USA Today, New York Times, Sportico, CNN, Deadline, Associated Press, Awful Announcing, TVLine, Front Office Sports, New York Post, The Wrap, CNBC, Barrett Media, New York Daily News and The Hollywood Reporter

Discussion:

Andrew Marchand /
New York Times: The eye-popping $77 billion haul that shook up the NBA landscape — and the future of media Fox News: Charles Barkley reverses retirement decision, vows to stay with TNT long-term: ‘This is the only place for me’

Brian Steinberg /
Brian Steinberg on LinkedIn: NEW: Charles Barkley backs off retirement plans, says he will stay with Warner Bros. Discovery and looks beyond looming loss of NBA rights.... …

Chuck Schilken /
Los Angeles Times: Charles Barkley isn't retiring or joining another network. TNT ‘is the only place’ for him

Mike D. Sykes /
USA Today: 5 things (NHL!) Charles Barkley can still do with TNT when Inside the NBA leaves the network

Andrew Marchand /
New York Times: Charles Barkley not retiring, staying with TNT Sports long term: ‘This is the only place for me’

Jason Clinkscales /
Sportico: Charles Barkley ‘Reaffirms’ Long-Term Commitment to WBD

Liam Reilly /
CNN: Charles Barkley cancels his retirement plans, says he'll stay with TNT Sports for long term

Nellie Andreeva /
Deadline: Charles Barkley Will Stay With TNT Sports “For Years To Come” In Retirement Plans Reversal

Ben Axelrod /
Awful Announcing: Charles Barkley cancels retirement to remain with TNT Sports long-term

Dave Nemetz /
TVLine: Charles Barkley Walks Back Retirement Decision as Warner Bros. Discovery Fights to Retain NBA Games

Michael McCarthy /
Front Office Sports: Charles Barkley Un-Retires From TV, Says He's Staying With TNT

Ryan Glasspiegel /
New York Post: Charles Barkley does about-face on TV retirement with TNT commitment

Lucas Manfredi /
The Wrap: Charles Barkley Cancels Retirement, Commits to TNT Sports for ‘Years to Come’

Alex Sherman /
CNBC: Charles Barkley commits to staying at Warner Bros. Discovery's TNT Sports no matter what happens to NBA

Peter Sblendorio /
New York Daily News: Charles Barkley nixes plan to retire, confirms long-term commitment to TNT Sports

Reuters:

IAC reports Q2 revenue down 15% YoY to $949.5M and profit up 24% YoY to $87.3M; Dotdash Meredith reports revenue up 3% YoY to $425.2M and ad revenue up 16% YoY— IAC (IAC.O) posted a 24% rise in its core profit in the second quarter, banking on advertising and licensing revenues of Dotdash Meredith, its biggest business.

Discussion:

Ray Schultz /
MediaPost: Dotdash Meredith Grew Its Digital Revenue By 12% In Q2

Deadline:

Sony Pictures reports Q1 revenue down 7% YoY to $2.2B and operating income down 36% YoY to $73M, despite strong movie debuts and streaming subscriber growth— Sony Pictures Entertainment posted first quarter operating income of $73M, down over 36% year-on-year on a U.S. dollar basis.

Discussion:
CNBC, Wall Street Journal and Bloomberg, more at Techmeme »

Discussion:

Kosaku Narioka /
Wall Street Journal: Sony Boosts Guidance as Profit Rises on Strength of Game, Music, Sensor Businesses

Adweek:

Some ad buyers say Netflix is now charging CPMs between $20 and $30, after originally seeking $65 in 2022 and a reported $39 to $45 in 2023— The streaming platform initially came to the market with $65 CPMs in 2022 — Netflix is further lowering the prices of its ads …

Discussion:

Catherine Perloff /
@catherineperlo1: Scoop: Netflix is lowering ad prices again as the steaming landscape becomes more competitive. We also have details of the streamer's upcoming launch with The Trade Desk. https://www.adweek.com/... AdExchanger: Netflix Brings Its Sky-High Ad Prices Down (A Smidge); X Sues GARM Over Lost Ad Revenue

Gabriela Domanico /
Gabriela Domanico on LinkedIn: This summer, Netflix is partnering with ad tech firms like The TradeDesk , Google's Display & Video 360, and Magnite, offering programmatic inventory with floors as low as $15 for a 10-second ad. …

Catherine Perloff /
Catherine Perloff on LinkedIn: Scoop: Netflix is further lowering their ad prices, as competition in streaming advertising heats up. …

Mark K. Miller /
TVNewsCheck: LMC's NewsPassID Ad Network Releases New Local News Ad Buying Solutions

Jamie Harris /
The Sun: Sky customers ‘not happy’ as their Netflix subscription is changing to include ads - check account now

Tim Peterson /
Digiday: Future of TV Briefing: The 2024 glossary

The Hollywood Reporter:

Division in Hollywood's approach to AI is growing, as some studios want to use AI tools more often in production, while unions aim to establish guardrails— While unions aim to establish guardrails and artists are going to court, studios are looking to use AI tools more often in production.

Discussion:
TVNewsCheck

Discussion:

Awful Announcing:

Fubo's CEO blasts Venu, the Disney/Fox/WBD sports JV, saying it gives them control of 80% of the premium market and curbs competition, as he seeks an injunction— The new Fubo logo. — Fubo's earnings call was on Tuesday. Unsurprisingly, CEO David Gandler used part of his opening remarks …

Discussion:
Yahoo Finance, Bloomberg Law, Deadline, Bloomberg, IndieWire, The Streamable, Next TV and Deadline

Discussion:

Brendan Coffey /
Yahoo Finance: Fubo Q2 Results Lifted by Baseball, Soccer; CEO Hits Venu

Chris Dolmetsch /
Bloomberg Law: Fox-Warner-Disney Sports Streamer Should Be Blocked, Fubo Argues

Dade Hayes /
Deadline: Disney-Fox-WBD Sports Streaming Venture Has One Major Advantage, Fubo CEO David Gandler Testifies: “Price Is King”

Chris Dolmetsch /
Bloomberg: Fox-Disney Sports JV Is the ‘Last Straw,’ Fubo CEO Testifies

Tony Maglio /
IndieWire: Why Does Venu Sports Want to Self-Destruct in 9 Years?

David Satin /
The Streamable: Fubo Wants an Injunction to Create Venu-Like Packages; What Would They Look Like if It Could?

Daniel Frankel /
Next TV: Fubo Begins Preliminary Injunction Quest Against Venu Sports as Antitrust Suit's Hearings Begin

Dade Hayes /
Deadline: Disney, Fox & Fubo Lawyers Clash In NY Court As Venu Sports Antitrust Lawsuit Goes Before Judge

RELATED:

The Hollywood Reporter:
FuboTV reports Q2 North America revenue up 26% YoY to $383M vs. $368M est., North America paid subscribers up 24% to 1.45M, rest of world revenue up 2% to $8.3M

Discussion:
@fubotv_pr, Fubo, Media Play News, The Streamable, Advanced Television and Cord Cutters News

Discussion:
@fubotv_pr: Fubo Closed Q2 2024 With 26% Year-over-Year Revenue Growth, 24% Year-over-Year Subscriber Growth and Exceeded Guidance in North America; Global Business Achieved 6th Consecutive Quarter of Year-over-Year Improvement in Profitability Metrics https://www.businesswire.com/ ... Fubo: Fubo Closed Q2 2024 With 26% Year-over-Year Revenue Growth, 24% Year-over-Year Subscriber Growth and Exceeded Guidance in North America; Global Business …

Erik Gruenwedel /
Media Play News: Fubo Ups Q2 Online TV Subs 24% to 1.45 Million, Narrows Fiscal Loss 50%

David Satin /
The Streamable: Fubo Falls to 1.45 Million Paid Users in North America, Posts 26% Year-Over-Year Revenue Increase

TechCrunch:

Amazon Music debuts Topics, which helps users find podcast episodes by topic and is powered by both AI and humans— Amazon Music announced Tuesday the launch of its new AI-powered feature, “Topics,” which allows users to explore podcast episodes by specific topics discussed in the episode.

Discussion:
About Amazon and The Verge, more at Techmeme »

Axios:

X sues the World Federation of Advertisers, GARM, Mars, Unilever and others over what Linda Yaccarino calls an illegal boycott; Rumble also sues WFA and others— Members include major tech companies, advertisers, agencies, ad tech firms and advertising coalitions.

Discussion:
@elonmusk, @lindayax, PhoneArena, The Verge, @lindayax, Rumble, Associated Press, @elonmusk, Digiday, @catthekin, @theliamnissan, @baekdal, @jesse_brenneman, @bobbyallyn, @fmanjoo, @catthekin@threads.net, @chrispavlovski, @crumbler@threads.net, @kyliebytes, @hanse_mina@mastodon.social, @katzish@threads.net, @allahliker, The Federalist, @stopfundinghate, @ngrossman81@threads.net, @rumblevideo, US District Court for the Northern District of Texas, @karaswisher@threads.net, @firerock31@threads.net, @sherrilynifill@threads.net, @renee.diresta@threads.net, @catthekin@threads.net, Awful Announcing, @silvermanjacob, @ranimolla, @chrispavlovski, @tracybeanz, @goldman@threads.net, @barry, @joshtpm, @katieeyton, The Hollywood Reporter, @sarafischer, @bobbyallyn, @tracybeanz, @1elizabeth_jacobs@threads.net, The Daily Wire, AV Club, Adweek, The Verge, @digiphile@threads.net, @lorakolodny@threads.net, @mac_ryan_@threads.net, @kateaconger@threads.net, New Republic, PRWeek, Fast Company, @dankennedy_nu@threads.net, Wired, Ars Technica, @rstephens@threads.net, The Media Leader, The Drum, CNN, Greg Glenday on LinkedIn, Deadline, Wall Street Journal, @elizspiers@threads.net, New York Post, MediaPost, Variety, Quartz, Reuters, Engadget, HuffPost, Ruben Schreurs on LinkedIn, Financial Times, Bloomberg, New York Times, The Information, TechCrunch, Fox Business, Barrett Media and Ad Age, more at Techmeme »

Discussion:

Elon Musk /
@elonmusk: We tried peace for 2 years, now it is war

Linda Yaccarino /
@lindayax: An open letter to advertisers

Iskra Petrova /
PhoneArena: X sues major advertisers for alleged boycott

Linda Yaccarino /
@lindayax: A Message to X Users [video] Rumble: Rumble Joins X to Sue Advertising Cartel that Allegedly Conspired to Withhold Digital Advertising Revenue Associated Press: Elon Musk's X sues advertisers over alleged ‘massive advertiser boycott’ after Twitter takeover

Elon Musk /
@elonmusk: Everyone who has been boycotted should file a lawsuit in every country they've been boycotted

Krystal Scanlon /
Digiday: X takes legal action against advertisers to challenge media status quo

Claire Atkin /
@catthekin: LOL @lindayaX look at your serious face here! I'm so proud to have told you to your face that you are a disingenuous person and that all the advertisers know that you are disingenuous, too. Forcing advertisers to be on X is laughably opposite free speech https://www.techpolicy.press/ ...

Liam Nissan™ /
@theliamnissan: “I am suing all of the companies who refuse to advertise on my social media platform” - Sissy SpaceX [image]

Thomas Baekdal /
@baekdal: Heh.. I can't ever recall anyone convincing someone to advertise by suing them ¯\_(ツ)_/¯

Jesse Brenneman /
@jesse_brenneman: What an incredible thing to say about people you are trying to get to pay money [image]

Bobby Allyn /
@bobbyallyn: The most significant thing about X's lawsuit against GARM are not the allegations, but the Texas judge: Reed O'Connor. He also is overseeing X's Media Matters suit and, in an extraordinary move, allowed discovery to start BEFORE a motion to dismiss was ruled on. (1/2)

Claire Atkin /
@catthekin@threads.net: Let's talk strategy. Elon Musk is suing a powerful group of advertisers using an “antitrust” argument, claiming that they “colluded” to boycott X. This group is called the World Federation of Advertisers. They have done nothing wrong or illegal but X and Elon and lawsuits are scary. …

Claire Atkin /
@catthekin@threads.net: I don't know how much the WFA has in the bank to defend against this lawsuit. I do think that this is an opportunity for advertisers to protect themselves from future attacks. Slightly higher member dues would be appropriate for hiring strategic legal and communications teams in order to end this kind of attack once and for all.

Chris Pavlovski /
@chrispavlovski: If you have been boycotted by advertisers. Follow the lead by Rumble and X. Now is the time to break the cabal.

Casey Newton /
@crumbler@threads.net: Over on X, Linda Yaccarino just announced the company is suing advertisers for “illegally boycotting” the platform. Apparently X believes you have a legal obligation to spend money there 😆

Kylie Robison /
@kyliebytes: NEW: In an all-hands at X, formerly Twitter, CEO Linda Yaccarino attempted to rally the troops after X filed a lawsuit against a coalition of major advertisers, claiming it had coordinated an “illegal boycott” and cost the company billions of dollars. Yaccarino urged employees

Hanse Mina /
@hanse_mina@mastodon.social: Advertise on our free speech platform or we'll sue you. 🤦 — https://x.com/... #Elon #Musk #X #Twitter — [image]

Amanda Katz /
@katzish@threads.net: I read this twice and I still don't understand why these companies were required to give her their money. There is a name for that, but it's not “business” and you usually gotta hire Joey “the Enforcer” to threaten to break their legs @allahliker: being brought in to shore up the advertising bleed and eventually being forced to announce a silly lawsuit against advertisers for refusing to advertise here. only on X!

Jordan Boyd /
The Federalist: X Sues Global Advertising Giants For Coordinating ‘Illegal’ Boycott Designed To Punish Free Speech

Nicholas Grossman /
@ngrossman81@threads.net: You don't want to buy ads on my website? Go fuck yourself! <pause for cheers that do not come> 9-months of revenue collapse later... I hereby announce that I'm using my personal wealth to try to get the government to make companies buy ads from me they don't want because it's bad for their businesses. … @rumblevideo: BREAKING: Rumble has joined @X to sue a cartel of advertisers and ad agencies who conspired to block ad revenue from going to certain platforms and content creators. GARM was a conspiracy to perpetrate an advertiser boycott of Rumble and others, and that's illegal. [image] US District Court for the Northern District of Texas: Complaint — Plaintiff X Corp. ("X" or “Plaintiff"), by and through its undersigned counsel …

Kara Swisher /
@karaswisher@threads.net: Blink twice Linda if you need us to come get you. https://x.com/...

Andy Cheng /
@firerock31@threads.net: Your Honor, I submit Exhibit A as evidence. The plaintiff explicitly instructed us, 'don't advertise,' followed by a dismissive and offensive remark, ‘GFY’. We took this as a clear directive and ceased advertising efforts accordingly.

Sherrilyn Ifill /
@sherrilynifill@threads.net: Yaccarino is not sacrificing for Musk. She is one of the true believers who've been lurking in business, media, journalism and law for some time without letting on their extremist views. We're seeing them now because they feel released and able to walk fully in their beliefs.

Renee DiResta /
@renee.diresta@threads.net: This investigations + sweeping document requests + lawfare situation happening between Twitter and the advertisers of GARM needs to be understood as yet another run of the playbook by the same people that brought you the ""censorship industrial complex"" BS. …

Renee DiResta /
@renee.diresta@threads.net: From a month ago. You are now being asked to believe that the voluntary cessation of paid speech and association by private companies on a private platform is “censorship” that somehow silences the speech of posters on that platform.

Claire Atkin /
@catthekin@threads.net: If the WFA takes a stand here, they will be protecting brands for a long time. If they decided to settle or worse, shut down, their members would be at much higher risk of being attacked one by one. Another risk? If the WFA advertisers do fold to Elon and that gets in the news, that could hurt their brands to the much larger and more reasonable portion of the consumer base. …

Andrew Bucholtz /
Awful Announcing: X CEO Linda Yaccarino's video begging for ads gets roasted amidst lawsuit against advertisers

Jacob Silverman /
@silvermanjacob: The hand gestures are wayyy overdone. No one is obligated to buy advertising on this site, but it'll be interesting to see Musk try to sue advertisers into giving them money rather than focusing on making X a decent place where companies actually want to advertise.

Rani Molla /
@ranimolla: Just because Google is a monopoly doesn't mean that everything is going to be an antitrust violation now https://www.wsj.com/...

Chris Pavlovski /
@chrispavlovski: Google just found out that they can't rig the search market to exclude their competitors anymore. And soon a cabal of advertisers and agencies will find out that they can't arbitrarily engineer a boycott of Rumble & X. We've joined @X to sue them, and we'll see them in court.

Tracy Beanz /
@tracybeanz: 🚨🧵 THREAD: X Corp has sued the World Federation of Advertisers in an antitrust action. It is my understanding that Rumble is joining this lawsuit - though the docket doesn't reflect that yet. This thread will detail the complaint, and further reporting on this will be found [image]

Jason Goldman /
@goldman@threads.net: Who's the audience for the Yaccarino “Begun this Advertiser War Has” video. It can't be advertisers or the media. Is it just a pure Chud Communique?

Barry Petchesky /
@barry: I also think it should be illegal not to financially support my business

Josh Marshall /
@joshtpm: this is exactly what this is about. they're accusing advertisers of conspire together not to advertise on X. these freaks need the federal courts to compel companies to advertise on their shit platform. amazing.

Katie Eyton /
@katieeyton: It's not just politics - a week is a long time in advertising too it seems. X files antitrust lawsuit against GARM. An organisation it re-joined 6 weeks ago. https://wfanet.org/...

Winston Cho /
The Hollywood Reporter: In Bid for Ads, Elon Musk's X Declares Legal War on ... Advertisers

Sara Fischer /
@sarafischer: NEW: @rumble is joining X in suing World Federation of Advertisers (WFA), BUT it's also suing @WPP and its subsidiary @GroupMWorldwide, one of the largest ad-buying firms in the country For more context on why GroupM, see my story from last month: https://www.axios.com/... [image]

Bobby Allyn /
@bobbyallyn: That allowed for vast amounts of broad and costly data collection from Media Matters, which the group compared to “harassment,” leading to layoffs due to crushing litigation costs - again, before the suit's merit's were even decided. Now that same judge has the GARM case (2/2)

Tracy Beanz /
@tracybeanz: @chrispavlovski Chris, technically every creator has been boycotted - we should consider a class action. I'd sign on.

Elizabeth Jacobs /
@1elizabeth_jacobs@threads.net: Linda Yaccarino is an adult; an educated, experienced woman with a tremendous amount of power. She gets up every day and chooses to promote a social media company that embraces and amplifies racist, misogynistic, abusive content. She's not a hostage, and she's not brainwashed. …

Luke Rosiak /
The Daily Wire: X, Rumble Sue ‘Advertising Cartel’ For Allegedly Breaking Antitrust Laws To Force Censorship

Mary Kate Carr /
AV Club: Elon Musk declares “war” on a bunch of advertisers

Catherine Perloff /
Adweek: Ad Buyers Rethink X Presence Following the Platform's GARM Lawsuit

Kylie Robison /
The Verge: Inside X's all hands.

Alex Howard /
@digiphile@threads.net: I see X is asserting there's been a violation of the Sherman Act - an antitrust matter. Thanks to @kateaconger for uploading the suit: https://www.documentcloud.org/ ... Seems notable to me that the House committee cited didn't refer this matter to thejusticedept …

Lora Kolodny /
@lorakolodny@threads.net: the hopes of chilling effects are obvious! no need to wonder.

Ryan Mac /
@mac_ryan_@threads.net: In the meeting, Linda Yaccarino just shouted out “the press” who figured out how to report on the employee all-hands meeting in real-time. She said it's a testament to the company's popularity and importance.

Kate Conger /
@kateaconger@threads.net: Linda Yaccarino is currently leading an employee all-hands to talk about suing GARM. She started by telling everyone that X is still a member of GARM, despite today's lawsuit. @mac_ryan_ https://www.nytimes.com/...

Edith Olmsted /
New Republic: Elon Musk's New Lawsuit Proves He's a Whiny Little Baby

Brandon Doerrer /
PRWeek: Consultants call GARM antitrust lawsuit ‘disaster’ for X

Chris Morris /
Fast Company: Elon Musk's X claims advertisers boycotted the platform

Dan Kennedy /
@dankennedy_nu@threads.net: I am not going to advertise on Xitter. Should I lawyer up?

Jon Brodkin /
Ars Technica: Elon Musk declares “it is war” on ad industry as X sues over “illegal boycott”

Robert Stephens /
@rstephens@threads.net: Give me your best rhymes with “self own”

Sabrina Quagliozzi /
The Media Leader: X slams advertisers in antitrust lawsuit

Webb Wright /
The Drum: Elon Musk's X sues the World Federation of Advertisers over alleged advertising boycott

Greg Glenday /
Greg Glenday on LinkedIn: Tell me you don't understand the ad market without telling me you don't understand the ad market. If you're a seller at Twitter/X and you'd prefer …

Jill Goldsmith /
Deadline: Elon Musk's X Sues Advertisers, Says Boycotts Violated Antitrust Law

Wall Street Journal:
Elon Musk's X Sues Advertising Group Over Boycott That Allegedly Cost the Platform Billions

Elizabeth Spiers /
@elizspiers@threads.net: I cannot fathom voluntarily tanking one's own career like this on behalf of a megalomaniac.

Thomas Barrabi /
New York Post: Elon Musk's X files antitrust suit against shadowy ad cartel for allegedly coordinating ‘illegal boycott’

Todd Spangler /
Variety: Elon Musk's X Sues Advertisers Accused of an ‘Illegal’ Boycott: ‘Now It Is War’

William Gavin /
Quartz: Elon Musk's X thinks boycotting advertisers are creating a monopoly against it

Karissa Bell /
Engadget: X sues advertisers for ‘illegal boycott’ of the platform

Ruben Schreurs /
Ruben Schreurs on LinkedIn: X, formerly Twitter, has filed an antitrust lawsuit against GARM, WFA, and four members. — The suit is frivolous, in my personal opinion …

Madlin Mekelburg /
Bloomberg: Musk's X Sues Group Over Ad Boycott That Cost Billions

Kate Conger /
New York Times: X, Owned by Elon Musk, Brings Antitrust Suit Accusing Advertisers of a Boycott

Sahil Patel /
The Information: X Sues Ad Industry Group, Some Top Advertisers

Brian Heater /
TechCrunch: X files antitrust suit against advertising groups over ‘systematic illegal boycott’

Next TV:

Future plans to end Broadcasting & Cable, Multichannel News, and NextTV in print and as newsletters, replacing them with one newsletter and revamping NextTV.com— By B+C Staff( Broadcasting & Cable ) published — Charlie Weiss will take on chairman role for B+C Hall of Fame, with Bill McGorry moving into chairman emeritus role

Discussion:

Michael Socolow /
@michaelsocolow: It's not even 12 noon, and the cuts in the media & journalism industry today are astonishing. -Tampa Bay Times cuts 20%. -Axios fires 50 people, last day this Friday. -Broadcasting & Cable magazine - the bible of the industry - to cease publication. This is bad. Real bad.

Joe Flint /
@jbflint: Broadcasting & Cable Mag, which made its debut in 1931 as Broadcasting Magazine, is officially no more. Media reporters that started there include John Lippman (former LAT & WSJ), David Crook (former LAT/WSJ) and @Variety_Cynthia. It was considered the bible of TV and radio. RIP

Bob Gold /
Bob Gold on LinkedIn: Bye-bye Multichannel News, Broadcasting & Cable and Next TV magazines and newsletters - alas! I knew ye well. …

Todd Spangler /
Variety: TV Industry Trade Outlets Broadcasting & Cable, Multichannel News Are Shutting Down

Stephen Battaglio /
Los Angeles Times: Veteran TV trade journal Broadcasting + Cable is shutting down, in a sign of the times for media

Alex Weprin /
The Hollywood Reporter: Broadcasting & Cable to Shutter As This Year's Media Meltdown Escalates

New York Times:

Internal memo: Axios CEO Jim VandeHei says the company is laying off about 50 employees, or ~10% of the company, due to “changes in the media business”— Jim VandeHei, the company's chief executive, said in an email that the cuts were necessary to adapt to “changes in the media business.”

Discussion:
@samueljrob, The Wrap, @selenesanfelice, @loopemma, @daniellealberti, @smtology, @danprimack, @ryanabest, @sophiacai99, @tim_bays, @ruhlmuk, @simranparwani, @tblysik, @mac_ryan_@threads.net, @geomoriarty@threads.net, @sarafischer, @loopemma, @nickicamberg, @simranparwani, @daniellealberti, The Hill, @justinbaragona, Fast Company, @jdawsey1, @sopandeb, @chrisjollyhale, New York Post, @billygribbin, @keitholbermann, @redsteeze, @ethanscorey, @ethangach, @chaykak, @brandyljensen, @benkesslen, @chriscillizza, @mikebrice, @katie_robertson, Fox Business, Erin Hulliberger on LinkedIn, Deadline, Nieman Lab, @aulia@threads.net, TVNewsCheck and Barrett Media

Discussion:

Sam Robinson /
@samueljrob: I'm losing my job Friday! Oh well. If you're a staffer I've been working with: Please send all campaign stuff/press releases to samueljrobinson@icloud.com after Friday. I'll still be posting On Here. If you're an employer and want to help me pay my rent soon, message me.

Natalie Korach /
The Wrap: Axios Lays Off 50 Staffers Amid Media Landscape Shift

Selene San Felice /
@selenesanfelice: 1 big thing: Axios laid me off.

Emma Loop /
@loopemma: I'm heartbroken to say I'm one of the people affected by the cuts at Axios today. I have a lot to figure out and will be taking some downtime, but if anyone in the U.S. or Canada is hiring, feel free to reach out.

Danielle Alberti /
@daniellealberti: The Visuals team was exceptionally hit hard by this news. Please reach out if you're looking for data viz designers, developers, data analysts, visual storytellers or illustrators.

Stephanie Tuerk /
@smtology: I am really saddened to hear about the Axios/@AxiosVisuals layoffs. The field of data viz has constantly been pushed forward by work in news orgs, and it's extremely sad to me to see fewer and fewer of these opportunities.

Dan Primack /
@danprimack: So, this is a shitty day here at Axios. No way to sugarcoat that. We're saying goodbye to some extraordinary colleagues, and I hope they all get picked up quick. For those here celebrating people losing their jobs, it says everything about you and nothing about them.

Ryan Best /
@ryanabest: Simran is so talented, and more importantly a delight! Whoever gets to work with her next is very ~very~ lucky.

Sophia Cai /
@sophiacai99: It's a really difficult day at Axios - we are losing some incredible colleagues and friends ❤️ please flag your newsroom's job postings

Tim Baysinger /
@tim_bays: Tory is the best and you should hire her

Rahul Mukherjee /
@ruhlmuk: I was one of the folks impacted :/ It's been a pleasure working at @AxiosVisuals, some of the best journalists in the industry. If anyone has any graphics/visuals gigs, especially in the NYC area, please reach out.

Simran Parwani /
@simranparwani: also immensely grateful for all the journalists before me who have been so open and vulnerable about their layoffs and have normalized it (though why should it be so normal) // i feel less shame though it's hard for it not to feel like a reflection of my abilities

Tory Lysik /
@tblysik: Sadly I am one of the many who found out their position was eliminated today. It has been an absolute honor to work with such a hardworking group of people. I have a lot to figure out. But if anyone is hiring, especially in the NYC area, please reach out.

George Moriarty /
@geomoriarty@threads.net: Today is a very sad day at Axios. Enormous talent is available, and they are also good people, without exception. To my friends and now former colleagues, my network is yours. Please be well.

Sara Fischer /
@sarafischer: My heart goes out to my company and those impacted by this. Please keep Axios talent in mind if you have job openings.

Emma Loop /
@loopemma: I have extensive political/investigative reporting experience. I also now have experience managing a team, editing and sending a flagship newsletter, editing all sorts of national news, homepage management, and much more.

Nicki Camberg /
@nickicamberg: This is the team that trained me and made me the data journalist that I am today. They are all incredibly talented, hard workers, and genuinely fun and nice people — HIRE THEM!!!

Simran Parwani /
@simranparwani: guess it's my last week @axios , still a bit shocked and sad that half our team was laid off, but grateful to have learned so much from my kind, brilliant @AxiosVisuals coworkers // one last chart roundup of some faves from the past two years✨ [image]

Danielle Alberti /
@daniellealberti: Simran is one of the most talented data viz journalists I've ever (ever) worked with. She has every. single. skill. She has boundless curiosity, interest and passion. She has such clever and original ideas, and she will try everything before finding the best way to tell a story.

Sarah Fortinsky /
The Hill: Axios laying off more than 4 dozen staffers: Reports

Justin Baragona /
@justinbaragona: There's just something so unsettling that they used the Axios “smart brevity” bulletpoint format to fire their staffers. WHY IT MATTERS: You will no longer have a job.

AJ Hess /
Fast Company: Axios announced it's laying off 10% of staff in a ‘cringe’ branded memo. That's not the worst part

Josh Dawsey /
@jdawsey1: Why it matters: you might not have a job anymore.

Christopher Hale /
@chrisjollyhale: @katie_robertson @JimVandeHei The “why it matters” headline is a vicious way to present this.

Alexandra Steigrad /
New York Post: Axios cuts roughly 50 positions amid ‘changing’ media landscape: ‘Painful but necessary’

Billy Gribbin /
@billygribbin: Imagine getting fired with a “why it matters” explainer

Keith Olbermann /
@keitholbermann: The suck catches up to Axios

Stephen L. Miller /
@redsteeze: Wonder if laid off Axios people think we're entering a recession now. [image]

Ethan Corey /
@ethanscorey: Oh God, they formatted their layoff notice like an Axios story. Horror compounding horror. @ethangach: I love how this is framed around being forward thinking and then has no idea what is a really coming beyond “change”

Kyle Chayka /
@chaykak: smart brevity: why you got laid off

Brandy Jensen /
@brandyljensen: announcing this in the house style ("why it matters" bullet points) is so dark

Ben Kesslen /
@benkesslen: It's nasty work to do this in the Axios format. Make it a regular email...

Chris Cillizza /
@chriscillizza: Mainstream media journalism has a broken business model. Even Axios, which I think has led the way in terms of innovation and forward-thinking, isn't immune. If we want to have journalism going forward, we have to convince people they need to pay for it.

Mike Brice /
@mikebrice: It is the common curve with these media start ups. Promise the stars, attract talent with above market wages and then crash and burn. What was the name of the last company to do this? I already forgot.

Katie Robertson /
@katie_robertson: More from the Axios note https://x.com/... [image] Fox Business: Axios eliminating roughly 50 positions because of ‘tectonic shifts in the media’ industry

Erin Hulliberger /
Erin Hulliberger on LinkedIn: Hate to hear about layoffs at Axios. Their newsletters are a daily go-to for me and many others, and I've had nothing but positive interactions with Axios reporters. …

Jill Goldsmith /
Deadline: Axios Laying Off 50 Staffers, About 10% Of Workforce

Neel Dhanesha /
Nieman Lab: Axios has its first-ever layoffs, citing “shifting reader attention and behavior” and AI

Natalie Korach /