Media industry news covering news organizations, broadcasting, digital media, advertising, and media business developments.
Fox Corp. finalized its $22 billion purchase of Roku, closing ahead of schedule. Founder Anthony Wood joins as co-chair of a new digital division. Nielsen data indicates the combined streaming group now generates more US TV viewership than Netflix or NBCUniversal when paired with Fox's broadcast and cable networks. Roku shares ceased trading on Nasdaq following the merger.
Online magazine Salon.com has ceased publication after 31 years, citing unsustainable financial challenges. Founded in 1995 by David Talbot as a provocative online magazine distinct from traditional print media, the outlet won Time magazine's website of the year in 1996 before marking the end of its pioneering digital news legacy.
The BBC has apologized for a past culture of silence that prevented staff from reporting Russell Brand's behavior between 2006 and 2008. This follows Brand's conviction for one count of rape and three counts of sexual assault, renewing scrutiny of media accountability regarding his conduct during his tenure at BBC radio stations.
Sony announced a 45 percent increase in second-quarter operating profit to 622.3 billion yen, surpassing expectations. The company raised its annual earnings forecast by 15%, driven by strong PlayStation 5 sales, though console shipments fell and mobile image-sensor sales weakened during the quarter.
Paul Cheesbrough has been named co-chair and CEO of Fox Digital Platforms, integrating Roku operations into Fox Corp following its $22 billion acquisition. As part of the restructuring, Mike Bidgoli becomes president of Tubi, while Chris Handman and Robyn Peterson exit the company.
The New York Times Company is in exclusive talks to acquire the film database platform Letterboxd for approximately $350 million. Competitors A24, Netflix, and Sony withdrew as the price increased. The platform attracts 30 million monthly users with zero paid marketing according to investment bank LionTree.
The article argues that Russell Brand's rape convictions expose systemic failures within the BBC and British media culture, which allegedly ignored or enabled his misconduct during his tenure from 2006 to 2008. It highlights the broadcaster's apology for a culture of silence that prevented staff from reporting concerns about Brand's behavior.
Puck News argues that Steve Kornacki’s NBC election night coverage became the central digital feed for political influencers, amassing millions of views. The article contends this demonstrates legacy media's enduring relevance as a core content source for streaming platforms, despite broader industry declines.
Culture Secretary Lisa Nandy stated that Russell Brand's rape conviction must serve as a wake-up call for the media industry to better protect whistleblowers. Her comments follow revelations that TV producer Jack Bayles stepped back from productions after allegedly laughing during Brand's assault, highlighting ongoing concerns about power imbalances in entertainment.
Channel 4 announced it will not return Married at First Sight UK following a BBC Panorama investigation revealing rape allegations against cast members. Two women who alleged they were raped expressed relief at the cancellation, while several other cast members called for greater accountability.