Sources: the UK is considering revisiting parts of the Online Safety Act to give authorities more power to force social media companies to curb harmful content (Bloomberg)

Mediagazer: Sources: the UK is considering revisiting parts of the Online Safety Act to give authorities more power to force social media companies to curb harmful content (Bloomberg)

Top News:

Business Insider:

Email: the World Federation of Advertisers discontinues activities of its nonprofit, GARM, following X's antitrust lawsuit, but intends to contest X's claims— - The World Federation of Advertisers is ‘discontinuing’ the activities of the Global Alliance for Responsible Media.
Discussion: New York Times, The Verge, Ars Technica, PRWeek, Adweek, Fox Business, MediaPost, The Guardian, Michael Follett on LinkedIn, Reclaim The Net, Bloomberg, Courtney Radsch, PhD on LinkedIn, Wall Street Journal, New York Post, Breitbart, Sarah Kay Wiley on LinkedIn, @jalefkowit@vmst.io, Claire Atkin on LinkedIn, @mac_ryan_@threads.net, Engadget, Quartz, Barrett Media, @lauren@mastodon …, @catthekin@threads.net, @chronotope.aramzs.xyz, Arielle Garcia on LinkedIn, Lara O'Reilly on LinkedIn, @larakiara, @crumbler@threads.net, @daveleebbg@threads.net, @renee.diresta@threads.net, Ruben Schreurs on LinkedIn, @catthekin@threads.net and Inside Radio, more at Techmeme »

Discussion:

Elizabeth Lopatto /
The Verge: Ad group sued by Elon Musk reportedly disbands

Jon Brodkin /
Ars Technica: Ad industry initiative abruptly shuts down after lawsuit filed by Elon Musk's X

Brandon Doerrer /
PRWeek: GARM's discontinuation ‘sad day for industry,’ brand safety experts say

Kyle O'Brien /
Adweek: WFA Is Shutting Down GARM After X Lawsuit

Colin Kirkland /
MediaPost: X Removes All Ads For Premium+ Subscribers Following GARM Shutdown

Kari Paul /
The Guardian: Advertisers axe corporate responsibility scheme after lawsuit from Musk's X

Michael Follett /
Michael Follett on LinkedIn: Here's a well researched and well sourced article from a well respected news outlet about how Elon Musk's ludicrous lawsuit against WFA's Global Alliance for Responsible Media has led to its closure. …

Courtney Radsch, PhD /
Courtney Radsch, PhD on LinkedIn: The Global Alliance for Responsible Media is ‘discontinuing’ after Elon Musk's X filed what can only be described as a SLAPP lawsuit disguised …

Thomas Barrabi /
New York Post: Shadowy ad cabal GARM shuts down after Elon Musk's X files antitrust suit over censorship

Lucas Nolan /
Breitbart: A ‘Win for the First Amendent:’ GARM Shuts Down in the Wake of Elon Musk's Antitrust Lawsuit

Sarah Kay Wiley /
Sarah Kay Wiley on LinkedIn: Using courts to bully and intimidate is straight out of the authoritarian playbook - especially when it concerns free expression and choice. …

Jason Lefkowitz /
@jalefkowit@vmst.io: Elon Musk's lawsuit against the Global Alliance for Responsible Media drove the organization to dissolve itself today. — https://www.businessinsider.com/ ...

Claire Atkin /
Claire Atkin on LinkedIn: UPDATE: The WFA has shut down the Global Alliance for Responsible Media. What does this mean? Did he win? It depends what his goal was. …

Ryan Mac /
@mac_ryan_@threads.net: Musk and X will parade this as a major victory for “free speech,” but we shouldn't forget how/why GARM was formed: to hold social platforms like Twitter and Facebook accountable after they were used to spread a 2019 video of a white nationalist's massacre of 51 people in Christchurch.

William Gavin /
Quartz: GARM, the so-called ‘advertising cartel’ sued by Elon Musk's X and Rumble, is shutting down Barrett Media: World Federation of Advertisers to Discontinue GARM Ad Buying Standards After Pushback From Conservative Media

Lauren Weinstein /
@lauren@mastodon.laurenweinstein.org: After Musk lawsuit, tiny staff anti-hate advertising group closes down. — Musk is demanding that advertisers buy ads on X. — https://www.businessinsider.com/ ... [image]

Claire Atkin /
@catthekin@threads.net: Definitey does not make the lawsuit go away. They are doing what they can to make it easier (I'm not sure that's the legal strategy I would have taken, personally)

Aram Zucker-Scharff /
@chronotope.aramzs.xyz: The WFA just tripping ass backwards but I guess GARM was always basically a cut out. It's just a shame they can't even stand up for their own declared ethics here. [embedded post]

Arielle Garcia /
Arielle Garcia on LinkedIn: WFA's decision to shut down GARM is horrible news for advertisers, and for the communities they serve. …

Lara O'Reilly /
Lara O'Reilly on LinkedIn: SCOOP: The Global Alliance for Responsible Media's activities are being “discontinued.” — It comes after Elon Musk's X filed a lawsuit …

Lara O'Reilly /
@larakiara: Scoop: The World Federation of Advertisers told members on Thursday that it's discontinuing the Global Alliance for Responsible Media initiative following an antitrust lawsuit filed by Elon Musk's X against the company earlier this week https://www.businessinsider.com/ ...

Casey Newton /
@crumbler@threads.net: This is X (and Jim Jordan)'s version of “free speech”: bullying organizations out of existence for choosing not to associate with violence and hate speech https://www.businessinsider.com/ ...

Dave Lee /
@daveleebbg@threads.net: Does this affect the lawsuit, though? GARM isn't a defendant — WFA + the companies are. You can't make a lawsuit go away by shutting down a department.

Renee DiResta /
@renee.diresta@threads.net: This corporate sloganeering implies that monetization is something a company is owed, and that one platform is available for free expression. Both are bullshit. The alarming impact to free speech is that a congressman and oligarch are bullying others into association and compliance by chilling …

Ruben Schreurs /
Ruben Schreurs on LinkedIn: This is a major setback for global progress towards a more responsible media industry. — Very sad news, but I understand the difficult decision made by the WFA. …

Claire Atkin /
@catthekin@threads.net: This is what is happening, in no particular order: A) a bunch of European advertisers don't want to deal with the Texas legal system B) they don't want to deal with Elon C) they don't want to have their brand safety decisions aired out in public no matter what they are There are no winners here. …

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— Paramount Global is cutting 15% of its U.S. workforce, or about 2,000 jobs, part of a broader cost-cutting plan as it prepares for a merger with Skydance Media.

Discussion:
The Desk, Business Insider, The Wrap, The Streamable, IndieWire, Reuters, Variety, Ad Age, Paramount, Next TV, The Information, Cord Cutters News, The Hollywood Reporter, Deadline and Media Play News

Discussion:

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

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

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

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

Caitlin Huston /
The Hollywood Reporter: Paramount Plans Cost Savings Moves as Streaming Finally Hits Small Profit Deadline: Paramount Takes $5.98B Write-Down At Cable Networks Ahead Of Skydance Deal In Latest Big Media Damage From Linear TV

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

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— Paramount Global will cut 15% of its U.S. workforce in the next few weeks — a round of layoffs that will affect about 2,000 employees …

Discussion:
The Guardian, CNN, IndieWire, The Wrap, Deadline, TVNewsCheck, Los Angeles Times, @hadas_gold and Deadline

Discussion:

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

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

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

New York Times:

Oliver Darcy leaves CNN to launch Status, a newsletter akin to Puck, for $15/month or $150/year; CNN says the Reliable Sources newsletter is on summer hiatus— Oliver Darcy is starting a subscription-based news site dedicated to covering the media industry, joining a crowded field.

Discussion:
Status, Variety, @oliverdarcy@threads.net, @unbonfromage@threads.net, Breitbart, @digiphile@threads.net, The Hollywood Reporter, @passantino@threads.net, The Wrap, @digiphile@threads.net, @bethanyshondark, @keitholbermann, Mediaite, New York Post, @maxwelltani, @donie, Deadline, @donie, Associated Press, Barrett Media and Talking Biz News

Discussion:

Oliver Darcy /
Status: Who We Are — Status is the new, definitive nightly briefing that informs readers …

Brian Steinberg /
Variety: Oliver Darcy, CNN's ‘Reliable Sources’ Critic, Exits

Oliver Darcy /
@oliverdarcy@threads.net: Some personal news, as they say: I am launching my own media venture, Status, which will chronicle the Fourth Estate, Hollywood, and Silicon Valley. The NYT's Michael Grynbaum has the story here: https://www.nytimes.com/...

Liam Reilly /
@unbonfromage@threads.net: While I'm crushed @oliverdarcy is leaving @cnn, I'm so stoked for Status, which I know will be a big hit — make sure you subscribe! I'm incredibly proud to have worked with you these last 1.5 years and will, of course, need regular updates regarding Mr. Albert's moods now that you won't be down the hall.

John Nolte /
Breitbart: Left-wing Censor Oliver Darcy out at CNN

Alex Howard /
@digiphile@threads.net: I watched @cnnreliablesources many Sunday mornings for over a decade, until @CNN canceled it in 2022. We're all media critics now, but the show & newsletter acted as a watchdog & conscience for the industry, profession, & trade, combining reported analysis with smart, sometimes tough interviews. …

Jon Passantino /
@passantino@threads.net: Incredibly proud of the tireless and brave work @oliverdarcy has done at CNN and Reliable Sources. Holding media executives to account, including those in your own house, is not for the faint of heart. I will miss our countless late nights stressing over every word in the newsletter, but thrilled for Oliver and his new venture status.news https://www.nytimes.com/...

Natalie Korach /
The Wrap: Oliver Darcy Departs CNN to Launch Independent Media Newsletter

Alex Howard /
@digiphile@threads.net: I'm sorry to hear @CNNReliableSources is going on hiatus — especially if that negatively affects journalists at CNN. The newsletter & show played a useful, informative, & sometimes important role in the U.S. media ecosystem under @BrianStelter & @OliverDarcy, who's launched a new endeavor.

Bethany S. Mandel /
@bethanyshondark: Did Oliver Darcy leave CNN and take the emails of everyone signed up for Reliable Sources with him? [image]

Keith Olbermann /
@keitholbermann: Well there goes one of the few useful reporters @cnn Oliver Darcy gone from Reliable Sources, starts own newsletter: https://variety.com/...

Alexandra Steigrad /
New York Post: CNN's ‘Reliable Sources’ reporter Oliver Darcy shockingly quits network

Max Tani /
@maxwelltani: New: @oliverdarcy is leaving CNN, launching a new media newsletter https://www.status.news/...

Donie O'Sullivan /
@donie: I had the privilege (and the headache) of sharing an office with @oliverdarcy some time back during a particularly rocky period for CNN. I can confirm he is the same absolute, unapologetic, pain-in-the-ass for all the right people in real life as he is in his newsletter.

Donie O'Sullivan /
@donie: We are going to miss this guy. No media reporter has done more in recent years to hold power to account — especially at their own company — than @oliverdarcy. Sign up to his new venture: https://www.status.news/ https://www.nytimes.com/...

Chris Roush /
Talking Biz News: CNN's Darcy departs to start his own newsletter

BBC:

A look at the people behind Channel3Now, a crime news aggregator whose story wrongly blaming an asylum seeker for the Southport attack played a role in UK riots— What connects a dad living in Lahore in Pakistan, an amateur hockey player from Nova Scotia - and a man named Kevin from Houston, Texas?

Discussion:

Mike Davies /
Mike Davies on LinkedIn: So finally, thanks to the diligence of BBC News, we have the full story of how an erroneous post by a small Anglo-American-Asian “news website” …

Chris Davies /
Chris Davies on LinkedIn: An excellent piece of investigative writing with a disturbing insight into how ‘journalism’ and spreading disinformation has become a lucrative industry.

Emma Martins /
Emma Martins on LinkedIn: Misinformation and disinformation are real, as are the consequences. — If anything good is to come from the terrible recent events …

Jean-Paul Marthoz /
Jean-Paul Marthoz on LinkedIn: Southpost and riots. Many politicians talk as if they had the power to control misinformation on social media which leads to violence. …

Dan Johnson /
Dan Johnson on LinkedIn: Incredibly, “X” does NOT have a policy against publishing misinformation, and it is quite clear that it both encourages and monetises such activity. …

Tim Fairhurst /
Tim Fairhurst on LinkedIn: At Go Vilnius airport, reflecting on a week in #Lithuania with all its wonderful nature and thought-provoking 20th century history …

Rob Smale /
Rob Smale on LinkedIn: Great piece of investigation by the much maligned “Aunty”. The article tracks down the source of the false name of the Southport attacker and shows how the false report was amplified. … @bbcnewsfeed@mastodonapp.uk: The real story of the news website accused of fuelling riots — The BBC tracks down a Canadian hockey player, a dad in Pakistan and a Texan named Kevin linked to Channel3Now. — https://www.bbc.com/... (c) #BBC #News

CT Examiner:

Hearst Connecticut Media Group workers plan to form a union; despite support from some politicians, management said it would not voluntarily recognize the group— Hearst Connecticut Media Group announced on Thursday that it would not recognize a union formed by its reporters …

Discussion:
@bostonglobe, @newsguild, @juliann_ventura, The NewsGuild and The Boston Globe

Discussion:
@bostonglobe: Journalists across more than two dozen print and digital news outlets owned by Hearst Connecticut Media Group announced Thursday they're forming a union. https://www.bostonglobe.com/ ... @newsguild: 🚨 Reporters, photographers, editors and digital producers in Connecticut's largest newsroom are unionizing! @CTnewsguild🐳 They are asking Hearst for voluntary recognition to start bargaining a contract that benefits everyone, including the community. https://newsguild.org/... [image]

Juliann Ventura /
@juliann_ventura: CT's federal lawmakers throwing support behind @CTnewsguild despite Hearst Connecticut Media Group announcing today that it would not recognize the union: [image]

Rebekah Entralgo /
The NewsGuild: Hearst Connecticut Staff Seek Better Pay and Conditions with NewsGuild Union Drive

Bloomberg:

Sources: the UK is considering revisiting parts of the Online Safety Act to give authorities more power to force social media companies to curb harmful content— - Starmer has few existing levers to curb incendiary content — Officials consider revisiting key parts of Online Safety Act

Discussion:
The Guardian, The Hill, The Verge, Deadline and RADAR, more at Techmeme »

Discussion:

Miranda Nazzaro /
The Hill: UK agency urges social media companies to crack down on violent rhetoric

Jess Weatherbed /
The Verge: Social media platforms warned against inciting violence by UK regulator

Jake Kanter /
Deadline: ‘Veep’ Creator Armando Iannucci Calls Out Elon Musk's “Civil War” Jibes As Peaceful British Protesters Overwhelm Far-Right Rioters RADAR: Elon Musk Accused of ‘Race Baiting’ on X as Far-Right Riots Triggered by Taylor Swift Dance Class Stabbings Explode

Financial Times:

Sources: Google and Meta ran a pilot program in the US in May 2024 to target Instagram ads to teenagers on YouTube, which prohibits targeting ads to under-18s— Campaign on YouTube to boost Instagram's appeal to young people skirted search group's rules for marketing to under-18s

Discussion:
PRWeek, Engadget, The Information, Sørine Vesth on LinkedIn, TechRadar, New York Post, Damien Geradin on LinkedIn, Quartz, @rinze@paquita.masto.host, @KimPerales@toad.social, MediaPost, @riptari, Tim Ringel on LinkedIn, MEDIANAMA, Boing Boing, @ariellesgarcia, @ilumium@eupolicy.social, The Verge, Ad Age and Digiday, more at Techmeme »

Discussion:

Michael Roddan /
The Information: TikTok Lays the Groundwork for More European Ecommerce

Sørine Vesth /
Sørine Vesth on LinkedIn: It appears that Google and Meta have made a deal to circumvent legislation by profiling children and marketing ads about Insta to minors. …

Allisa James /
TechRadar: Google and Meta reportedly skirting their own rules to ad target young teens, shows why tech giants cannot regulate themselves

Thomas Barrabi /
New York Post: Google, Meta hatched secret deal to target teens on YouTube with Instagram ads: report

Damien Geradin /
Damien Geradin on LinkedIn: Another powerful illustration of Google and Meta's moral bankruptcy. Targeting teens to get them hooked to Instagram is particularly bad …

Laura Bratton /
Quartz: Google and Meta ran a secret ad campaign targeting teens @rinze@paquita.masto.host: “Google and Meta made a secret deal to target advertisements for Instagram to teenagers on YouTube, skirting the search company's own rules for how minors are treated online.” — 🔒 https://www.ft.com/... 🔓 https://archive.ph/ZtMxN

Kim Perales /
@KimPerales@toad.social: #Google worked on a marketing project for #Meta that was designed to target 13- to 17-yr-old YouTube users with adverts that promoted its rival's photo & video app. — The IG campaign DELIBERATELY TARGETED a group of users labelled as “unknown” in its ad system, which Google knew skewed towards: <18. …

Laurie Sullivan /
MediaPost: Google, Meta Reportedly Struck Secret Ad Deal To Target Teens @riptari: Google has all the data it needs to create self-serving ad-targeting proxies like “unknown”. The choice of label is also quite the troll https://www.ft.com/... [image]

Tim Ringel /
Tim Ringel on LinkedIn: In a world of infinite features, targeting options, available 1st and 3rd party data, AI enabled optimization strategies and highly incentivized sales reps …

Simone Lobo /
MEDIANAMA: Google monopolised search text ads, limited advertiser control: US Antitrust hearing

Rob Beschizza /
Boing Boing: Meta and Google secretly targeted kids with ads

Arielle Garcia /
@ariellesgarcia: So, while @google adamantly denied serving targeted ads on kids' videos, they were secretly working with opioid-pushing @PublicisGroupe's @SparkFoundryWW to help @Meta target kids. “Embrace the unknown” is disgusting. https://www.ft.com/... [image]

Jan Penfrat /
@ilumium@eupolicy.social: In the latest episode of #BigTech fuckery, #Google & #Instagram made a “secret deal to target #ads for #Insta to #teenagers on #YouTube.” — This Google marketing campaign “deliberately targeted a group of [underage] users labelled as “unknown” [...] to ensure the true intent of the campaign was disguised.” …

Jess Weatherbed /
The Verge: Meta and Google secretly targeted minors on YouTube with Instagram ads

Garett Sloane /
Ad Age: Google monopoly ruling—what advertisers need to know about the future of search

Drop Site News:

A freelance journalist claims the NYT failed to correct a story he co-wrote on antisemitism in Teaneck, NJ, after he found a source gave incorrect information— An elected official alleged an antisemitic break-in. Police say it didn't happen. — As a freelance journalist …

Discussion:
@jbenmenachem, @nkulw, @derekjohnbryant, @jeremyscahill, @ryangrim and @malsaafin

Discussion:

Jon Ben-Menachem /
@jbenmenachem: I really struggle to see another mainstream, ‘objective’ print outlet ignoring reportable material like this. [image]

Noah Kulwin /
@nkulw: Look at my New York Times dawg [image]

Derek Bryant /
@derekjohnbryant: “In a decade of being a full-time freelance journalist, I have personally never come up against the kind of opposition I've experienced trying to cover the reverberations of the ongoing Israeli genocide in Gaza.”

Jeremy Scahill /
@jeremyscahill: New at @DropSiteNews: “I reported a piece for the New York Times on antisemitism. I found a major error, but the Times didn't care” https://www.dropsitenews.com/ ... Story by Arvind Dilawar

Ryan Grim /
@ryangrim: “I reported a piece for the New York Times on antisemitism. I found a major error, but the Times didn't care.” by Arvind Dilawar, writing in @DropSiteNews https://www.dropsitenews.com/ ...

CNN:

ABC says Trump and Harris have agreed to debate on September 10; at a press conference, Trump also says he has agreed to debate on Fox and NBC— Donald Trump and Kamala Harris are set to debate on ABC on September 10 after the former president said Thursday he had agreed to the faceoff, along with two others next month.

Discussion:

Michael M. Grynbaum /
New York Times: ABC Says Trump and Harris Have Agreed to Debate on Sept. 10

Gene Maddaus /
Variety: Donald Trump Will Debate Kamala Harris on ABC on Sept. 10

Bess Levin /
Vanity Fair: Trump Spews Lies, Disparages Harris's Intelligence, Insults Jews, and Rambles About “Insane Asylums” in Unhinged Press Conference

Jonathan Easley /
The Hill: Evening Report — Trump seeks more unscripted moments from Harris

Isaac Schorr /
Mediaite: Trump Says He's Agreed to Three Unconfirmed Debates With Kamala Harris on NBC, ABC and Fox News

Ellie Quinlan Houghtaling /
New Republic: Attention-Seeking Trump Desperately Flip-Flops on Debating Kamala

Kelly Hartog /
RADAR: Trump and Harris Agree to September 10 ABC Showdown — as VP Leads Him by 5 Points and After He Was Mocked for ‘Running Scared’ From Face-Off

Ariana Figueroa /
Iowa Capital Dispatch: Trump agrees to Sept. 10 debate with Harris, claims two more upcoming

Jared Mitovich /
Politico: Trump re-commits to debating Harris on ABC after backing out

Sareen Habeshian /
Axios: Trump backs down after bailing on debating Harris

Dominic Patten /
Deadline: Donald Trump And Kamala Harris Agree To ABC Debate, Network Says; Former President Floats Two Other Dates — Update

Kathryn Watson /
CBS News: Trump and Harris will debate on Sept. 10, as Trump proposes two more dates

Nikki McCann Ramirez /
Rolling Stone: Trump Agrees to Debate, Rants About Harris During Unhinged Presser

Dave Goldiner /
New York Daily News: WATCH: Trump calls for three debates with Kamala Harris as Democrat rises in polls

Kevin Breuninger /
TVNewsCheck: Trump Challenges Harris To Debates In September On NBC, Fox & ABC

Press Gazette:

Victoria Newton, editor of The Sun, defends her outlet's early coverage of the BBC's Huw Edwards and criticizes the Met's delay in revealing charges against him— Newton believes it was BBC News coverage that led to The Sun being “vilified” for its reporting.

Discussion:
Mark Stephens CBE on LinkedIn, @pressgazette and BBC

Discussion:

Mark Stephens Cbe /
Mark Stephens CBE on LinkedIn: Interesting inside story on the Sun coverage of Huw Edwards story from Sun editor Victoria Newton. @pressgazette: Sun editor Victoria Newton on the secret arrest of Huw Edwards: “We all tried. We went to the Met, and with various other newspapers the rumours went round, and I was certain that it was true. But until you have the Met confirm it, you can't go with it.” https://pressgazette.co.uk/...

New York Times:

Analysis: Truth Social is increasingly reliant on niche ad campaigns that target hard-core Trump fans and Christian conservatives, often with small ad budgets— Donald J. Trump's social network is increasingly relying on a niche of the ad market that caters to hard-core Trump fans and Christian conservatives for revenue.

The Wrap:

WBD CFO Gunnar Wiedenfels says NBA talks were a “triggering event” to reevaluate the company and take a $9.1B impairment charge, but were not the only factor— However, CFO Gunnar Wiedenfels notes the reevaluation wasn't “a response to one individual factor”

Discussion:

Tim Baysinger /
@tim_bays: So far, none of the analysts buy that WBD isn't losing the NBA, despite their lawsuit WBD execs refusing to even entertain that possibility on this call, which could be interpreted as willful blindness

RELATED:

Deadline:
WBD reports Q2 revenue down 6% YoY to $9.7B, a $9.99B net loss, and takes a $9.1B impairment charge for networks; global streaming subs rose 3.6M to reach 103M

Discussion:
CNBC, StreamTV Insider, Next TV, Quartz, @michellef_davis, @firmreturns, @billbrewstertbb, The Media Leader, WORLD SCREEN, The Wrap, @sherman4949, Variety, Advanced Television, @annaknicolaou, @heetermaria, Bloomberg, Yahoo Finance, CNBC, Sportico, Awful Announcing, Financial Times, Game Developer, Variety, Los Angeles Times, The Streamable, The Hollywood Reporter, Warner Bros. Discoverey and IndieWire

Discussion:

Alex Sherman /
CNBC: Pressure mounting on Warner Bros. Discovery CEO David Zaslav to deliver value for shareholders

Bevin Fletcher /
StreamTV Insider: Warner Bros. Discovery takes $9B TV networks impairment charge in Q2

Rocio Fabbro /
Quartz: Warner Bros. Discovery stock plunged after revealing a $9.1 billion impairment charge

Michelle F. Davis /
@michellef_davis: Yikes. Warner Bros Discovery just said it's taking a $9.1 billion charge and writing off the value of its traditional TV networks after concluding that cable isn't worth what it was just 2 years after the $42 billion Discovery/WarnerMedia merger. $WBD @firmreturns: Couple of positive takeaways from $WBD Q2 earnings to offset the negatives: 1. They're not breaking it up despite the rumours. 2. DTC is growing nicely: ad revenue up nearly 100% yoy, 3.6m new subs, and $8.00 ARPU. Could be looking at double-digit DTC sub growth for full year.

Bill Brewster /
@billbrewstertbb: WBD is, has been, and will always be uninvestable because Zaslav is a rent seeker. How did he lose the NBA? And how didn't he spend enough on House Of The Dragon?! HOD was good btw... The guy doesn't build. He buys and milks. Good game when you own distribution. Not so good

Mansha Daswani /
WORLD SCREEN: $10 Billion Loss For Warner Bros. Discovery

Lucas Manfredi /
The Wrap: Warner Bros. Discovery Stock Plunges Over 11% After Taking $9.1 Billion Impairment Charge on Linear TV Networks

Alex Sherman /
@sherman4949: Just your normal $10.2 billion quarterly operating loss for Warner Bros. Discovery. (To put that in perspective, the entire market cap of Warner Bros Discovery is about $18 billion).

Alex Sherman /
@sherman4949: “The consumer experience right now is not good,” WBD CEO David Zaslav says of streaming in general.

Todd Spangler /
Variety: Warner Bros. Discovery Stock Crumples to All-Time Lows After Huge Q2 Impairment Charge

Anna Nicolaou /
@annaknicolaou: WBD says their TV channels are worth $9bn less than they were just 2 years ago. feels like a moment for the end of cable television

Maria Heeter /
@heetermaria: 🚨+📺+ 💸 = ☹️ Warner Bros Discovery reports nearly $10BN loss The co weighed a breakup in a bid to raise its sinking share price, but has since concluded that this is not the best option at this time, per @FT @annaknicolaou https://www.ft.com/... [image]

Hannah Miller /
Bloomberg: Warner Bros. Shares Tumble on $9.1 Billion TV Network Writedown

Alexandra Canal /
Yahoo Finance: Warner Bros. Discovery sinks after taking massive $9.1 billion impairment charge on its cable business

Lillian Rizzo /
CNBC: Warner Bros. Discovery stock falls as it writes down $9.1 billion, misses estimates

Anthony Crupi /
Sportico: WBD Takes $9.1B Impairment Charge as NBA Hopes Fade

Sean Keeley /
Awful Announcing: Warner Bros. Discovery stock freefalls over $9.1 billion charge, uncertainty around sports rights renewals

Justin Carter /
Game Developer: Report: WB Discovery looking to sell off games, other divisions to prevent total breakup

Jennifer Maas /
Variety: Warner Bros. Discovery Takes $9.1 Billion Balance Sheet Hit for Massive Drop in TV Network Values

Meg James /
Los Angeles Times: Warner Bros. Discovery takes $9-billion write-down from TV networks amid struggles

Matt Tamanini /
The Streamable: Warner Bros. Discovery Climbs Over 103.3 Million Streaming Customers Amidst Disastrous Financial Quarter

Etan Vlessing /