Roku Stock Sinks 15% on 'Challenging' 2024 Outlook, The Intercept Lays Off 15 Staffers and CNN Looks to Slash Star Salaries

Plus: Paramount shuts down Noggin, 'This Is Us' soars into Nielsen top 10 and Russell Simmons sued for defamation [Roku Earnings]( [Roku Stock Plunges 17% on ‘Challenging’ Media and Entertainment Outlook for 2024]( By Lucas Manfredi Roku shares fell as much as 17% in after-hours trading on Thursday after the smart TV operating system company warned of a “challenging” media and entertainment outlook for 2024, despite beating Wall Street expectations for the fourth quarter of 2023. Roku Media president Charlie Collier told analysts on the company’s earnings call that the M&E category went through “a period of spending at unsustainably high levels.” CEO Anthony Wood added that media giants “spent a lot of money during the go-go COVID years” as part of a push to sign-up subscribers. [Read More]( --------------------------------------------------------------- [The Intercept Logo]( [The Intercept Lays Off 15 Staffers, Including the Nonprofit Investigative Site's Editor-in-ChiefÂ]( By Natalie Korach The Intercept, a nonprofit investigative news outlet, is laying off 15 staffers including Editor-in-Chief Roger Hodge. Layoffs were announced in an internal memo sent to staffers on Thursday, obtained by the New York Times. “I am writing to share a challenging update,” the memo read. “Today The Intercept is parting ways with many talented and beloved colleagues.” [Read More]( --------------------------------------------------------------- [Compiled image featuring CNN stars Jake Tapper, Poppy Harlow and Anderson Cooper, along with new CNN boss Mark Thompson]( [CNN Looks to Slash Budgets, Star Salaries as Mark Thompson Digs In]( By Emily Smith CNN boss Mark Thompson is looking to fund his digital-first transformation by cutting anchor salaries — currently more than $50 million — as he seeks to remake the ailing cable network into a U.S. version of the BBC, media observers and former CNN executives have told TheWrap. Thompson, the former head of the BBC and The New York Times, has said he wants to unleash a “revolution” at the 43-year-old news network, and will not spare the network’s formidable talent roster. [Read More]( --------------------------------------------------------------- [Peppa Pig (Hasbro / eOne)]( [Paramount to Shut Down Noggin After Company Layoffs]( ['This Is Us' Soars Into Nielsen Top 10 Most-Watched Shows With Netflix Viewing Bump]( [Russell Simmons visits the Build Series in 2017 in New York City]( [Russell Simmons Sued for Defamation Following Rape Accusations]( [Monica Garcia and Andy Cohen on the set of "The Real Housewives of Salt Lake City" Season 4 Reunion (Bravo)]( [Reality TV Is Peacock's Secret Weapon in the Streaming Wars | Charts]( --------------------------------------------------------------- [Wrap Pro 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](