WBD pulls the contents of cartoonnetwork.com, which featured full CN episodes and video clips, and redirects visitors to sign up for Max (Todd Spangler/Variety)

Mediagazer: WBD pulls the contents of cartoonnetwork.com, which featured full CN episodes and video clips, and redirects visitors to sign up for Max (Todd Spangler/Variety)

Top News:

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

Discussion:

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

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

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

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

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

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:

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

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

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:
@popbase and Bleeding Cool News

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:
@simondowens@threads.net and Substack Reads

Discussion:

Simon Owens /
@simondowens@threads.net: All the conversation is around Twitter vs Threads, but Substack Notes is humming long. I'm now regularly coming across posts with thousands of likes...a clear indicator that adoption of that platform is picking up steam.

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

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, Al Jazeera, Reuters and Committee to Protect …

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, Reuters, Deadline, TVNewsCheck

Discussion:

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

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

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, Variety, Media Play News, Next TV and Deadline

Discussion:

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

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

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

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

Reuters:

Venezuelan President Nicolas Maduro bans X in the country for ten days, accusing Elon Musk of using X to promote hatred 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:
Associated Press, Agence France-Presse, TechRadar, Semafor, Al Jazeera, Deutsche Welle and Xataka On, more at Techmeme »

Discussion:

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

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

Jenna Moon /
Semafor: Venezuela bans X as Maduro expands crackdown

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

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:
Advanced Television, Press Gazette, Reuters, The Guardian, The Hollywood Reporter and Deadline

Discussion:

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

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:
The Media Leader, MediaPost, World Federation …, @lindayax, CNN, New York Times, Vox, The Verge, Ars Technica, Ad Age, Mother Jones, @repdanbishop, AdExchanger, @judiciarygop, Digiday, @larakiara, Affiverse, Marc Zander on LinkedIn, Fox Business, Michael Follett on LinkedIn, Reclaim The Net, PRWeek, Adweek, Courtney Radsch, PhD on LinkedIn, Bloomberg, Wall Street Journal, Sarah Kay Wiley on LinkedIn, @jalefkowit@vmst.io, Claire Atkin on LinkedIn, New York Post, @mac_ryan_@threads.net, Breitbart, @daveleebbg@threads.net, @catthekin@threads.net, The Guardian, Engadget, @renee.diresta@threads.net, Quartz, Arielle Garcia on LinkedIn, @crumbler@threads.net, Ruben Schreurs on LinkedIn, @lauren@mastodon …, @chronotope.aramzs.xyz, Lara O'Reilly on LinkedIn and Barrett Media, more at Techmeme »

Discussion:

Jack Benjamin /
The Media Leader: ‘Weaponised’ litigation: Industry stands ground against X following GARM shutdown

Joe Mandese /
MediaPost: Might Makes Right, Right?

Linda Yaccarino /
@lindayax: No small group should be able to monopolize what gets monetized. This is an important acknowledgement and a necessary step in the right direction. I am hopeful that it means ecosystem-wide reform is coming.

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 Ad Age: How Elon Musk took down brand safety group GARM—what's next for advertisers looking for controls

Rep. Dan Bishop /
@repdanbishop: 🚨🚨🚨 Sunlight is the best disinfectant. @judiciarygop: #BREAKING: The “Global Alliance for Responsible Media” is discontinuing. Big win for the First Amendment. Big win for oversight.

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/ ...

Simon Theakston /
Affiverse: Elon Musk's X and Rumble sue advertisers over alleged boycott

Marc Zander /
Marc Zander on LinkedIn: What sad news — GARM has done a great job over the last few years and I ( like many others) would like to thank them for all their hard work. … Fox Business: News Corp CEO takes aim at now-defunct GARM's media boycott efforts: Its ‘harm has been real’

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. …

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

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 …

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. …

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

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.

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

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.

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. …

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)

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

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 …

William Gavin /
Quartz: GARM, the so-called ‘advertising cartel’ sued by Elon Musk's X and Rumble, is shutting down

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

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/ ...

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. …

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]

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]

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 … Barrett Media: World Federation of Advertisers to Discontinue GARM Ad Buying Standards After Pushback From Conservative Media

Variety:

Lionsgate reports a Q1 net loss of $59.4M vs. a $70.7M net loss a year ago and revenue down 8% YoY to $834.7M vs. $857.5M est.; Starz shed 500K subscribers— Lionsgate, still feeling ripple effects from last year's twin Hollywood strikes, reported a decline in sales and while narrowing …

Discussion:

Julian Clover /
Broadband TV News: Studio strikes impact Lionsgate

Mansha Daswani /
WORLD SCREEN: Lionsgate Narrows Q1 Loss

Jericho Wilson /
Jericho Wilson on LinkedIn: Lionsgate, still feeling ripple effects from last year's twin Hollywood strikes, reported a decline in sales and while narrowing its net loss for the June quarter …

Todd Spangler /
TVNewsCheck: Lionsgate Revenue Drops 8% In June Quarter, Starz Loses 500,000 Subscribers

Jill Goldsmith /
Deadline: Starz & BritBox Launching New Bundle, Lionsgate On Track To Split By Year End, CEO Says After Mixed Earnings Report

Thomas K. Arnold /