Sources: Hearst Television lays off dozens of employees working for its free streaming service Very Local, which launched in 2021, serving 26 US markets (Nellie Andreeva/Deadline)

Mediagazer: Sources: Hearst Television lays off dozens of employees working for its free streaming service Very Local, which launched in 2021, serving 26 US markets (Nellie Andreeva/Deadline)

Top News:

BBC:

The BBC asks Huw Edwards to return the £200K+ in salary he made between his November arrest and his April resignation; BBC Chair says he “behaved in bad faith”— Huw Edwards has been asked to return his salary paid since his arrest, with the BBC chair telling staff the ex-presenter acted in “bad faith”.
Discussion: CNN, BBC, Reuters, The Hollywood Reporter, Julie Temple on LinkedIn, Press Gazette, Deadline and The Guardian

Discussion:

Anna Cooban /
CNN: BBC asks ex-presenter Huw Edwards to pay back $250,000 after he pleads guilty to having images of child sexual abuse

Lily Ford /
The Hollywood Reporter: BBC Asks Disgraced Former News Anchor Huw Edwards to Return $255K Salary

Julie Temple /
Julie Temple on LinkedIn: Leaving aside individual views on the actions of Huw Edwards, as an employment solicitor, I was surprised to see the headline that the BBC …

Max Goldbart /
Deadline: BBC Asks Huw Edwards To Return His Post-Arrest Salary & Says He Has “Brought Us Into Disrepute”

The Wrap:

Paramount sells entertainment news websites ComicBook and PopCulture to Savage Ventures, which created a joint venture to relaunch Vice digital properties— This comes after Paramount Global's newly appointed co-CEOs detailed a plan including $500 million in cost cuts

Discussion:
@jkschmidt, Breitbart, @rollinbishop, @kasey__moore, The Hollywood Reporter and Graphic Policy

Discussion:

Joe Schmidt /
@jkschmidt: Let me be clear: ComicBook and PopCulture aren't going ANYWHERE. We are keeping the team intact and continuing the great work we have been doing for years. I appreciate all of the well wishes. Change can be difficult. But this is good for us. Onward & Upward.

Rollin Bishop /
@rollinbishop: @joelevard i cannot speak to spanfeller (or savage ventures for that matter) but what i can say is i worked at cb from 2017 to 2022 and [image]

Rollin Bishop /
@rollinbishop: lordy lordy lordy savage ventures, you might recall, also bought the digital remains of vice earlier this year what you might not know: savage ventures managing partner, sam savage, was ceo of comicbook (and popculture) from 2016 to 2018 before it was sold to cbs

Erik Hayden /
The Hollywood Reporter: Paramount Sells Two Entertainment Websites Amid Cost-Cutting Effort Graphic Policy: Around the Tubes — It was new comic book day yesterday! What'd you all get? What did you like?

RELATED:

Variety:
Paramount Global says it will cut 15% of its US workforce, or about 2,000 employees, in the next few weeks, after cutting about 800 positions in February

Discussion:
The Guardian, Fast Company, Media Play News, Wall Street Journal, IGN, Fox Business, @hadas_gold, AdExchanger, StreamTV Insider, Next TV, CNN, Deadline, TVNewsCheck, IndieWire, The Wrap, Los Angeles Times and Deadline

Discussion:

Michael Grothaus /
Fast Company: Tech and media layoffs August 2024 update: Paramount Global, Dell, LegalZoom, Axios cut jobs

Erik Gruenwedel /
Media Play News: Paramount Global Cutting 15% of U.S. Workforce Following $5.98 Billion TV Asset Write-Down

Isabella Simonetti /
Wall Street Journal: Paramount Writes Down Value of Cable-TV Business by $6 Billion and Cuts 2,000 Jobs

Taylor Lyles /
IGN: Paramount Plus Finally Profitable, But Company Announces Layoffs Following Billions in Losses

Hadas Gold /
@hadas_gold: yikes, Paramount says “we are reducing our US based workforce by approximately 15%”

Allison Schiff /
AdExchanger: Paramount To Lay Off 15% Of US Workforce As Streaming Generates Its First-Ever Profit

Bevin Fletcher /
StreamTV Insider: Paramount plans to cut 15% of US workforce

Jon Lafayette /
Next TV: Paramount Claims $1 Billion In Upfront Streaming Commitments

Jill Goldsmith /
Deadline: Paramount Co-CEOs Say Talks Heating Up On Streaming Partnerships, Asset Sales Ahead Of Skydance Merger

Brian Welk /
IndieWire: Paramount to Lay Off 15% of Its U.S. Workforce

CNBC:
Paramount reports Q2 revenue down 11% YoY to $6.81B vs. $7.21B est., its first ever streaming profit, of $26M, and a $5.98B impairment charge for cable networks

Discussion:

Brian Niemietz /
New York Daily News: Paramount to cut 15% of its US workforce

Caitlin Huston /
The Hollywood Reporter: Paramount Plans Cost Savings Moves as Streaming Finally Hits Small Profit

Luke Bouma /
Cord Cutters News: Paramount Will Lay Off 15% of Its US Employees as Cord Cutting Grows

Jon Lafayette /
Next TV: Paramount Reports $5.4 Billion Loss As It Writes Down the Value of its Cable Networks

Martin Peers /
The Information: Paramount Global Takes $6 Billion Writedown

Lucas Manfredi /
The Wrap: Paramount Global Q2 Net Loss Balloons to $5.4 Billion as Company Takes $5.98 Billion Impairment Charge on Cable Networks

David Satin /
The Streamable: Paramount+ Drops 2.8 Million Subscribers to Land at 68 Million, but Made $26 Million in Profit

Erik Gruenwedel /
Media Play News: Paramount Streaming Turns Q2 Profit, Loses Subs

Tony Maglio /
IndieWire: And Now Paramount Has Lowered the Value of Its Cable Channels by $6 Billion

Dawn Chmielewski /
Reuters: Paramount Global writes down value of cable networks, posts first streaming profit

Brian Steinberg /
Variety: Paramount Takes $5.98 Billion Write-Down on Cable Networks in Q2 Tied to Skydance Deal While Streaming Turns First Profit

Hannah Miller /
Bloomberg: Paramount Takes $6 Billion Writedown on Cable TV Networks

Variety:

WBD pulls the contents of cartoonnetwork.com, which featured full CN episodes and video clips, and redirects visitors to sign up for Max— Cartoon Network has been scrubbed from the web. … The shuttering of the site appears to have happened Thursday, Aug. 8.

Discussion:

Alexandra Steigrad /
New York Post: Cartoon Network website goes dark amid Warner Bros. Discovery cost-cutting moves

Jeremy Mathai /
SlashFilm: RIP Cartoon Network Website: Warner Bros. Discovery Redirects Users To Max & The Internet Is Furious

Sabrina Quagliozzi /
The Media Leader: The end of an era: Cartoon Network website disappears

Lucas Manfredi /
The Wrap: Cartoon Network Website Shuts Down, Visitors Redirected to Max

Brandon Schreur /
ComingSoon.net: Cartoon Network Website Shuttered, Now Redirects to Max for Streaming

Danny Gallagher /
Engadget: Warner Bros. sends Cartoon Network's website to the digital graveyard @blogdiva@mastodon.social: oops. — here's the article am reacting to. — Zlasav gave himself millions last year all the while fighting Hollywood unions, blackholing decades of internet history, shelving finished projects to avoid paying talent residuals and bait & switching producers with contracts they won't honor. …

Todd Spangler /
TVNewsCheck: Cartoon Network Website Shuts Down, Warner Bros. Discovery Kicks Visitors Over to Max

Denise Petski /
Deadline: Cartoon Network Website Shutters; Sends Visitors To Max

Sherwood News:

A Q&A with Wikimedia Foundation executives on how AI could make knowledge more accessible to people, the possibility that it discourages volunteers, and more— We spoke with Wikipedia executives who told us AI could jeopardize the encyclopedia's connection with the volunteers who create it.

Discussion:
Diff

Discussion:

Olaniyan Olushola /
Diff: The Nigeria Wikimedia community inaugurates its Public Policy Advocacy Team

Deadline:

Sources: Hearst Television lays off dozens of employees working for its free streaming service Very Local, which launched in 2021, serving 26 US markets— Hearst Television has let go of dozens of employees working for its streaming service Very Local, sources tell Deadline.

Discussion:
TVNewsCheck

Discussion:

Nellie Andreeva /
TVNewsCheck: Hearst Television's Streamer Very Local Hit By Layoffs

Financial Times:

President of Disney EMEA Jan Koeppen says the company plans to spend at least $5B on content production in the UK and continental Europe in the next five years— Regional chief says UK and continental Europe will play a big role in future box office and streaming hits

Discussion:
Variety, Deadline, Craig Higgins on LinkedIn, John Mahtani on LinkedIn, Reuters and TVNewsCheck

Discussion:

Naman Ramachandran /
Variety: Disney Commits $5 Billion to U.K. and European Production Over Next Five Years

Craig Higgins /
Craig Higgins on LinkedIn: #Disney plans to spend at least $5bn in the UK and continental Europe over the next five years to produce blockbuster movies and TV shows. …

John Mahtani /
John Mahtani on LinkedIn: Great news from Disney — Disney to spend $5bn in Europe on making new blockbusters https://www.ft.com/...

Reuters:

Rappler wins an appeal to restore its corporate license as a court rules that the Philippines' SEC overstepped in ordering the outlet's shutdown in 2018— Philippine Nobel laureate Maria Ressa's news website Rappler won an appeal to restore its corporate licence after a court overturned …

Discussion:
The Guardian, Rappler, Reuters, Reporters Without Borders, Al Jazeera and Committee to Protect …

Discussion:

Rebecca Ratcliffe /
The Guardian: Philippines court voids order to shut down independent news site Rappler Reporters Without Borders: Philippines: RSF and the Hold The Line Coalition welcome the restoration of Rappler's licence

Reuters:

News Corp puts its 65% interest in Australian pay TV company Foxtel up for sale, citing third-party interest and a strategic review— Australian pay television company Foxtel, controlled by the Murdoch family and partly by local telecom firm Telstra (TLS.AX), has been put …

Discussion:

Calum Jaspan /
Sydney Morning Herald: Foxtel put up for sale by News Corp

Jesse Whittock /
Deadline: News Corp Sizing Up Sale Of Australian Pay-TV Giant Foxtel Group

Matthew Keys /
The Desk: News Corp weighs sale of pay TV business Foxtel

Julian Clover /
Broadband TV News: News Corp's Foxtel receives offer for business

Patrick Brzeski /
The Hollywood Reporter: Rupert Murdoch's News Corp. Considering Sale of Australian Pay TV Company Foxtel

Jonathan Barrett /
The Guardian: News Corp considers selling off Australian pay TV operator Foxtel ABC: News Corp is looking to sell off Foxtel, its pay TV and streaming service, chief executive tells shareholders

Sam Buckingham-Jones /
Australian Financial Review: News Corp puts Foxtel up for sale after reviewing its assets

RELATED:

Reuters:
News Corp reports Q4 revenue up 6% YoY to $2.58B vs. $2.49B est., net income of $71M, Dow Jones revenue up 4% to $566M, and book publishing revenue up 15%

Discussion:
News Corporation, New York Post, Talking Biz News and The Wrap

Discussion:

Alexandra Steigrad /
New York Post: News Corp beats revenue estimates as digital subscriptions grow

The Verge:

Substack now lets users publish posts and collect subscribers directly from their profile without setting up a publication, on the web or in its app— Anybody with a Substack account can now publish posts on Substack's web and mobile app, the company announced on Thursday …

Discussion:
TechCrunch, Substack Reads and @simondowens@threads.net

Discussion:

Aisha Malik /
TechCrunch: Substack now lets anyone publish posts, even if they don't have a newsletter

Hamish McKenzie /
Substack Reads: Substack in the palm of your hand

The Wrap:

AMC Networks reports Q2 net loss of $29.2M, revenue down 7.8% YoY to $625.9M, streaming subscribers up 5% YoY to 11.6M, and streaming revenue up 9% YoY to $150M— The company recorded $97 million in impairment charges related to the devaluation of its international business and BBC America

Discussion:
Advanced Television, Deadline, Media Play News, Variety and Next TV

Discussion:

Dade Hayes /
Deadline: AMC Networks Q2 Earnings Miss Wall Street Forecasts As Linear TV Challenges Once Again Hit Media Results

Erik Gruenwedel /
Media Play News: AMC Networks Ups Quarterly Streaming Subs 5% to 11.6 Million

Jennifer Maas /
Variety: AMC Networks Takes $97 Million Hit to Balance Sheet in Q2 on Devaluation of International Business, BBC America

Jon Lafayette /
Next TV: AMC Networks Posts 2Q Loss On Impairment Charges

Reuters:

Venezuelan President Nicolas Maduro blocks X in the country for 10 days, accusing Elon Musk of using X to incite hate after Venezuela's disputed election— Venezuelan President Nicolas Maduro on Thursday took tensions with social media platform X and its owner Elon Musk to new heights …

Discussion:
CNN, CNBC, UPI, Associated Press, Engadget, Agence France-Presse, @kennysmith.bsky.social, Al Jazeera, Xataka On, TechRadar and Deutsche Welle, more at Techmeme »

Discussion:

Mauricio Torres /
CNN: Maduro says he will block X in Venezuela for 10 days, after spat with Musk over contested election

Ryan Browne /
CNBC: Maduro orders 10-day ban on Elon Musk's X in Venezuela after feud with billionaire

Simon Druker /
UPI: Nicolas Maduro blocks X in Venezuela amid Elon Musk fight

Patrick Fort /
Agence France-Presse: Venezuelan strongman Nicolas Maduro blocks access to X as he accuses Elon Musk of ‘inciting hate and fascism’

Kenny Smith /
@kennysmith.bsky.social: I bet he sues. And then shuts down the #Teslas and #StarLink to that country. — That's what we've allowed as a potentiality. [embedded post]

Alba Mora /
Xataka On: Nicolás Maduro Intensifies His Battle Against Elon Musk and Orders 10-Day Ban on X in Venezuela

Chiara Castro /
TechRadar: X banned in Venezuela for 10 days - here's how to unblock it

The Hollywood Reporter:

A look at the battle among streamers for stand-up comic specials, as Amazon, Hulu, and Max challenge Netflix's dominance of the genre— What industry contraction? Platforms from Hulu to Amazon are spending wildly to woo comedians like Nate Bargatze and Bill Burr and put a dent in Netflix's dominance.

Discussion:
AV Club and TVNewsCheck

Discussion:

William Hughes /
AV Club: Stand-up specials are set to be the next major front of the Streaming Wars

The Information:

Amazon partners with TikTok and Pinterest to let users buy items from Amazon ads without leaving the social media apps, expanding on deals with Meta and Snap— Amazon's e-commerce business is huge but slow-growing, while shopping on social media has been taking off.

Discussion:
Tubefilter, Quartz, Engadget, Malte Karstan on LinkedIn, esports.gg, Affiverse and Bloomberg, more at Techmeme »

Discussion:

Francisco Velasquez /
Quartz: Amazon just figured out a way to make you buy more

Mariella Moon /
Engadget: TikTok and Pinterest team up with Amazon for in-app shopping

Malte Karstan /
Malte Karstan on LinkedIn: #Amazon has disclosed a new deal with #TikTok and #Pinterest - selling everywhere is the overall goal ! — What a signature move by all three parties! …

Bryson Maddock /
esports.gg: Amazon to sell products on TikTok

Alicia Clanton /