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12:45 AM ET, February 25, 2024


 Top News: 
Chris Thompson / Defector:
Vice leadership failed to act as responsible stewards of a good product, and instead paid themselves lavish salaries and burned through hundreds of millions  —  Vice was a good website.  On Thursday it was killed by its private equity owners, in a characteristically cruel and sudden maneuver …
Wall Street Journal:
Internal memo: Vice Media “will no longer publish content on” and may partner with established media companies to distribute its content
Sara Fischer / Axios:
NPR affiliate WAMU is shutting down local news site Dcist and laying off 15 employees to focus on audio and plans to add 10 new positions  —  - “We're making the choice to invest in what we're better at than anyone else in this town, and that's audio,” Pulley-Hayes said.
Chris Welch / The Verge:
Three years after Spotify's original announcement that it would launch a higher-quality audio subscription, the company has yet to roll out the feature  —  I was really hoping I wouldn't have to do this again.  Last year, it seemed like there was no reason to believe Spotify would ever roll …
Brian Steinberg / Variety:
WBD reports Q4 revenue down 7% YoY to $10.3B, adjusted EBITDA down 5% YoY to $2.5B, 97.7M global streaming subscribers, and a $103M streaming profit for 2023  —  The owner of the TNT and TBS cable networks,. the Warner Bros. studio and the Max streaming service reported a loss of $400 million …
Steven McIntosh / BBC:
UK police will take no further action against suspended GB News host Dan Wootton, who was accused of using fake identities to bribe men for explicit material  —  Police have said they will take no further action against GB News presenter Dan Wootton.  —  The New Zealand-born broadcaster …
Amie Parnes / Vanity Fair:
A journalist tells how Jimmy Finkelstein wooed her to The Messenger, reassured staff two months before closure, and left her without a promised severance  —  I have yet to receive a promised severance following the media start-up's abrupt collapse, which left hundreds of us without jobs.
Check My Ads Institute:
Paste co-founder and EIC Josh Jackson, whose company bought Jezebel in November 2023, says that overly broad brand safety efforts are hurting journalism  —  Josh Jackson was shocked when he found out what term, if used in the music publication he co-founded, could automatically strip an article of ad revenue.
Bill Ackman hires a law firm, which demands “immediate retractions and corrections” from Business Insider in a “final attempt to avoid litigation”  —  - Law firm issues demand letter on behalf of Ackman's wife  — News outlet published stories saying wife committed plagiarism
Nicholas Quah / Vulture:
A look at Matthew Belloni's What I'm Hearing newsletter, which covers the structures of Hollywood's business and has become a must-read among the power elite  —  How Matthew Belloni became the must-read columnist for Hollywood's executive class.  —  The Hollywood journalist Matthew Belloni …
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 More News: 
Daniel Thomas / Financial Times:
Sources: Vogue China EIC Margaret Zhang plans to leave Condé Nast when her contract expires at the end of March 2024
New York Times:
Instagram's news influencers, like Jessica Yellin with 650K+ followers and Mo News with 438K, have become popular even as Meta de-emphasizes political content
Katie Kilkenny / The Hollywood Reporter:
An interview with studio owner Tyler Perry, who says he's putting an $800M studio expansion in Atlanta on hold after seeing the capabilities of OpenAI's Sora
 Earlier Picks: 
Sarah Scire / Nieman Lab:
Google says there are no plans to remove the News tab on search results pages, after testing temporarily removing the filter for “a small subset of users”
Jonathan Vanian / CNBC:
Reddit files to list its IPO on the NYSE, reporting revenue up 20% YoY to $804M in 2023, net loss down 43% YoY to $90.8M, 73M DAUs, and a $3.42 global ARPU
Max Tani / @maxwelltani:
[Thread] Engadget announces layoffs and a restructuring that separates news and features from reviews and buying advice; EIC Dana Wollman is leaving

From Techmeme:

Elizabeth Lopatto / The Verge:
Many redditors say they are not enthusiastic about Reddit's IPO and expect CEO Steve Huffman to run the site into the ground while trying to make it profitable

Jon Porter / The Verge:
What to expect at MWC 2024: smartphone launches from Xiaomi and others, OnePlus Watch 2,'s “app-less phone” and other experimental concepts, and more

Milana Vinn / Reuters:
Sources: Broadcom is nearing a $3.8B deal to sell its end-user computing unit to private equity firm KKR

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