Paramount Shutters TV Studio Amid Layoffs, Fubo Could Be Pushed to Brink and X CEO Wants to 'Reset' Ad World

Plus: A Dolly Grip worries about career longevity, Lifetime and History execs exit and News outlets receive hacked Trump materials [Paramount Begins First Round of Layoffs, Shutters Television Studio]( By Lucas Manfredi Paramount started handing out pink slips Tuesday as the media giant’s first round of layoffs began under co-CEOs Brian Robbins, Chris McCarthy and George Cheeks’ long-term strategic plan first unveiled in June. The layoffs, which will be carried out in three phases and reduce the company’s total U.S. workforce by 15% are expected to be about 90% complete by the end of September, according to an internal memo from the executives obtained by TheWrap. The cuts will reportedly account for between 2,000-3,000 job cuts. [Read More]( --------------------------------------------------------------- [Fubo Says It Could Be Pushed to Insolvency With Venu Sports Launch as Preliminary Injunction Trial Comes to a Close]( By Lucas Manfredi The future of Venu Sports hangs in the balance as U.S. District Judge Margaret Garnett will decide on whether to grant Fubo a preliminary injunction that would, at the very least, delay the launch of the service. On Tuesday, lawyers for Fubo and Disney, Fox and Warner Bros. Discovery each filed post-trial memos making their final arguments. The documents, obtained by TheWrap, come after a preliminary injunction hearing was held last week in response to Fubo filing an antitrust lawsuit in February. [Read More]( --------------------------------------------------------------- [Linda Yaccarino at Code Conference]( [X CEO Linda Yaccarino Says She Wants to 'Reset the Entire Industry' With Ad World Antitrust Lawsuit]( By Raquel ‘Rocky’ Harris X CEO Linda Yaccarino said she wants to “reset the entire” advertisement industry through her and Elon Musk’s ad world antitrust lawsuit against the World Federation of Advertisers. Though Global Alliance for Responsible Media (GARM), one of the listed defendants in the lawsuit, shut down on Friday, the social media company will still move forward with the legal action. “Once we find out everything that happened, why it happened, what influenced this activity, there needs to be ecosystem-wide reform and a complete reset for the entire industry,” she told Axios on Tuesday. “[X] will absolutely lean in to lead and mobilize the industry … to take a new look about behaviors that are appropriate and transparent.” [Read More]( --------------------------------------------------------------- [Hollywood Holding on- Diego Mariscal]( [A Dolly Grip Says: ‘I Don't Know How Long This Career Can Sustain Itself’]( [Lifetime and History Execs Exit as A+E Networks Undergoes Layoffs]( [JD Vance and Donald Trump]( [News Outlets Receive Hacked Trump Campaign Material, but Refrain From Publishing]( [SAG-AFTRA Video Game Actors Picketing on August 1 2024 at Warner Bros.]( [SAG-AFTRA Video Game Performers Set Disney Picket Line for Thursday]( --------------------------------------------------------------- [WrapPRO logo] Discover why entertainment executives and professionals rely on the WrapPRO platform daily for exclusive coverage, analysis, deeper reporting, and access to VIP events & screenings throughout the year. [Subscribe Today]( --------------------------------------------------------------- [Facebook]( [Twitter]( [Instagram]( [YouTube]( TheWrap | 2034 Armacost Ave Los Angeles, CA 90025 [Preferences]( | [Unsubscribe]( [LiveIntent Logo]( [AdChoices Logo](