Trump Media, Truth Social's parent company that has a ~$5B market cap, reports Q2 revenue down 30% YoY to $837K; Trump owns 59.9% of Trump Media's common stock (Eva Dou/Washington Post)

Mediagazer: Trump Media, Truth Social's parent company that has a ~$5B market cap, reports Q2 revenue down 30% YoY to $837K; Trump owns 59.9% of Trump Media's common stock (Eva Dou/Washington Post)

Top News:

Associated Press:

Memo: MrBeast plans to hire an HR officer and a CFO and implement safety and sensitivity training, amid allegations of impropriety and unsafe sets— MrBeast has ordered a full assessment of the internal culture in his YouTube empire as well as an investigation into “allegations …
Discussion: Tubefilter, Kotaku, Metro.co.uk, @dexerto and Deadline

Discussion:

Sam Gutelle /
Tubefilter: MrBeast announces internal investigation in response to ongoing misconduct allegations

Ethan Gach /
Kotaku: MrBeast Calls For ‘Full Assessment’ Of Company Culture After Recent Allegations

Adam Starkey /
Metro.co.uk: MrBeast accused of knowingly hiring registered sex offender as YouTuber launches internal investigation @dexerto: “You need to reevaluate who you're putting on the trending page.” MrBeast's ex-girlfriend posted this message on Instagram [image]

Washington Post:

Trump Media, Truth Social's parent company that has a ~$5B market cap, reports Q2 revenue down 30% YoY to $837K; Trump owns 59.9% of Trump Media's common stock— Donald Trump's company, which operates Truth Social, said it earned $837,000 in quarterly revenue.

Discussion:
US Securities and Exchange Commission: Form 10-Q — UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q … @washingtonpost: Former president Donald Trump's social-media company Trump Media reported a $16.4 million loss and less than $1 million of quarterly revenue, showing that the business's financials remain tentative following a public debut earlier this year. https://www.washingtonpost.com/ ...

Brian Dear /
@brianstorms@mastodon.social: Some 15 years ago the tech company I founded and built from scratch had grown to offer meaningful value to customers, had over 20 million users, quarterly revenues in the millions, was profitable, and no debt. And it had a valuation that was a tiny nano-fraction of Trump's $5 billion money-losing complete scam. …

Rohail Saleem /
Wccftech: Trump Media And Technology Group's Revenue Plunges 30 Percent In Q2 2024 On A Net Loss Of $16 Million

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:
BBC, Financial Times, Reuters, CNN, Julie Temple on LinkedIn, Press Gazette, The Hollywood Reporter, The Guardian and Deadline

Discussion:

Daniel Thomas /
Financial Times: BBC to attempt to claw back salary from Huw Edwards

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

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 …

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

Wall Street Journal:

Netflix strikes a deal to have CBS Sports produce the two NFL games to be streamed live on Christmas; on-air talent to call the games will be decided later— The on-air talent that will call the games will be named later — Netflix said it has struck a deal to have CBS Sports produce …

Discussion:
Reuters, Awful Announcing, Sportico, Fox Business, Sports Media Watch and TVNewsCheck

Discussion:

Jason Clinkscales /
Sportico: Netflix to Enlist CBS Sports to Produce Christmas NFL Games

Press Gazette:

A £350M bid for The Telegraph by ad mogul Maurice Saatchi and Lynn Forester de Rothschild fails to make it to a second round in the auction run by RedBird IMI— Sir Paul Marshall reported to be the frontrunner for The Spectator. — Former advertising mogul Lord Saatchi has had a £350m bid to buy The Telegraph rejected.

Discussion:
Sky News and Financial Times

NPR:

Microsoft research details Iranian government efforts to interfere with the US election, including four fake outlets likely using AI to plagiarize news content— Groups connected to the Iranian government are using a spectrum of online tactics to interfere with the U.S. presidential election …

Discussion:
Fast Company, Atlanta Journal-Constitution, @savokanikan, Microsoft On the Issues, The Register, UPI, Washington Post and CBS News

Discussion:

Jessica Bursztynsky /
Fast Company: Microsoft says Iran increasing cyber activity to influence U.S. election

Savannah Sicurella /
@savokanikan: https://ajc.com/... one of the websites is called Savannah Time

Clint Watts /
Microsoft On the Issues: Iran Targeting 2024 US Election

Connor Jones /
The Register: Pro-Iran groups lay groundwork for ‘chaos and violence’ as US election meddling attempts intensify

Doug Cunningham /
UPI: Microsoft warns of Iranian AI efforts to influence 2024 U.S. presidential election

Joseph Menn /
Washington Post: Iran uses fake news sites to interfere in U.S. election, Microsoft says

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:
The Desk and TVNewsCheck

Discussion:

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

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:
The Desk, IndieWire, The Hollywood Reporter, @popbase, AV Club, IGN, SlashFilm, ComingSoon.net, @blogdiva@mastodon.social, Bleeding Cool News, The Wrap, New York Post, TVNewsCheck, Engadget, TVLine, Decider, Teddy Hose on LinkedIn, Cord Cutters News, The Verge, The Media Leader, Consequence and Deadline

Discussion:

Mark Peikert /
IndieWire: Why Does WBD Keep Trying to Kill Off Its Cartoon Legacy?

Emma Keates /
AV Club: WBD evicts Foster's Imaginary Friends and the rest of Cartoon Network from its home on the internet

Michael Cripe /
IGN: Cartoon Network's Entire Website Has Been Shut Down

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

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

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

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

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

Danny Gallagher /
Engadget: Warner Bros. sends Cartoon Network's website to the digital graveyard

Radhamely De Leon /
Decider: Cartoon Network Website Abruptly Wiped From The Web And Now Redirects To Max

Teddy Hose /
Teddy Hose on LinkedIn: Wow wow wow. The end of an era 😢 — It's been reduced to a category on Max, which you get redirected to if you type in the original URL. …

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

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

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, Media Play News, New York Daily News, Fast Company, Patrick Caligiuri on LinkedIn, Wall Street Journal, Fox Business, IGN, @hadas_gold, AdExchanger, StreamTV Insider, CNN, Deadline, Next TV, TVNewsCheck, Cord Cutters News, IndieWire, The Wrap, Bloomberg, Los Angeles Times, Deadline and CNBC

Discussion:

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

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

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

Patrick Caligiuri /
Patrick Caligiuri on LinkedIn: When it rains, it pours... ☔️ — Paramount lays off 2000 workers and writes off a $6b loss on the value of its cable TV networks

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

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

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

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

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

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

Deadline:
Paramount Global Steels Itself For New Round Of Layoffs As Q2 Earnings Hit, End Of Skydance “Go-Shop” Period Nears

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

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, Al Jazeera, Committee to Protect … and Reporters Without Borders

Discussion:

Rebecca Ratcliffe /
The Guardian: Philippines court voids order to shut down independent news site Rappler

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, Martin S. on LinkedIn, Craig Higgins on LinkedIn, John Mahtani on LinkedIn, Reuters, Deadline, TVNewsCheck

Discussion:

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

Martin S. /
Martin S. on LinkedIn: This is what a global #mediaandentertainment conglomerate looks like - from #superhero franchises to #cruiseships. …

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/...

Melanie Goodfellow /
Deadline: Disney EMEA President Takes Aim At France's “Uniquely Complicated & Complex” Film & TV Ecosystem

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:

Nathan Jolly /
Mumbrella: The Weekend Mumbo: Who's going to buy Foxtel?

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

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

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

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 /