Instagram said at least one hacker was able to steal personal information from high-profile user accounts, blaming the breach on a bug in its system that has now been fixed.“We recently discovered that one or more individuals obtained unlawful access to a number of high-profile Instagram users’ contact information – specifically email address and phone number — by exploiting a bug in an Instagram API,” a rep said in a statement.
ALL ISN’T BAD FOR SNAP INC
Instagram is hurting Snapchat, but perhaps not in all the ways investors think. The rise of Instagram Stories — a virtual Snapchat clone — is likely a big reason why Snap is posting slower user growth than Wall Street initially expected when the company went public earlier this year. But while nabbing new users has proved somewhat problematic, engaging existing users has not. That should come as a small glimmer of hope to Snap investors.
THE BIGGEST PROVIDER OF NEWS STORIES ON THE WORLD’S BIGGEST SOCIAL MEDIA PLATFORM IS THE WORLD’S OLDEST NEWS AGENCY, THE ASSOCIATED PRESS
A study by news analytics company NewsWhip found that the AP – set up in 1846 by a group of New York dailies to provide coverage of the Mexican-American War – is generating almost 35m engagements a month on Facebook, a fact disguised by the agency’s comparative anonymity, masked by the brands of its members and clients in the news industry.
NEW YORK TIMES’ BIZDAY INSTALLS WALL STREET JOURNAL’S FINANCIAL EDITOR AS ITS NEW FINANCIAL EDITOR
From Ellen Pollock: I’m thrilled to announce that David Enrich will be financial editor at Business Day. David comes to us from The Wall Street Journal, where he is the financial enterprise editor, managing a team of investigative reporters. Prior to that he was the paper’s European banking editor, based in London, and also worked on his own reporting projects.
SPONSORED SHOWS COMING TO FACEBOOK WATCH
Facebook Watch is barely out of the gate, but publishers are already trying to sell advertisers on sponsored shows on the fledgling video-viewing platform. Business Insider’s lifestyle brand Insider, for instance, has already premiered two shows for Watch, including “The Great Cheese Hunt” and “It’s Cool, But Does It Really Work?” Insider is now talking to advertising clients about developing shows that advertisers pay for and distribute inside the Watch environment.
TIME INC’S SPORTS ILLUSTRATED SETS TRAFFIC RECORD
Professional boxer Floyd Mayweather wasn’t the only one to come out on top of his fight against Conor McGregor in Las Vegas over the weekend. Sports Illustrated received record traffic with its coverage of the Saturday night event.
CHEDDAR EXPANDS AGAIN THIS TIME TO IN FLIGHT SCREENS
Leading Post-Cable Network Cheddar announced that starting today, its interviews with top executives, startups, business leaders, and innovators will be available on inflight entertainment platforms from JetBlue and AirAsia. The content can be accessed through the airlines’ wi-fi portals, available to all passengers with a wi-fi-enabled device.
EV WILLIAMS, FOUNDER OF MEDIUM TALKS SHOP
It can be tempting to write Medium off for dead. The company laid off a third of its staff earlier this year. The bigger-name publishers who migrated to Medium have left. (Goodbye to: The Ringer, Backchannel, The Awl, Pacific Standard, Film School Rejects, ThinkProgress.) They mostly returned to WordPress — or in The Ringer’s case, to Vox, or in Backchannel’s case, to Condé Nast.
LAYOFFS ON THE HORIZON AT DISNEY’S ABC
Walt Disney Co.’s ABC Television Group plans to make substantial jobs cuts, including at the broadcast network’s Burbank headquarters, in an effort to reduce costs at a time when traditional TV networks face huge challenges. The Disney/ABC Television Group, led by Ben Sherwood, is in the early stages of planning for the cuts.
FOX BROADCASTING INSTALLS NEW ENTERTAINMENT CHIEF
There is a big executive change at Fox Broadcast Company just as the buying season is kicking into high gear. David Madden is stepping down as entertainment president. I hear he is in negotiations for the top programming job at AMC. At Fox, Madden will be succeeded by 20th Century Fox EVP Development Michael Thorn, who will report to Fox Television Group chairmen and CEOs Gary Newman and Dana Walden.
AOL/YAHOO BOSS TIM ARMSTRONG HAS A WAY TO MAKE MONEY EVEN AS GOOGLE AND FACEBOOK ARE EATING UP AD DOLLARS
“I’m not going to go deeply into our strategy, but we have a different distribution model, different measurement model and different data model than they’re building,” Armstrong said. “I think you will see us, over the course of the next 12 months, roll out a series of products that are differentiated from Google and Facebook.”
VIACOM’S STOCK IS STRUGGLING, COULD A MERGER BE PUT BACK ON THE TABLE?
It has been one year since Shari Redstone, daughter of Sumner Redstone, prevailed in an epic battle for control of her father’s business empire. Since then, she has made some decisive moves, promoting Bob Bakish to CEO. But the stock price has not responded.
HEARST VETERAN LAUNCHES DIGITAL PRODUCTION FIRM
Corey Moss has teamed with Brad Gottfred to form Bold Soul Studios, a production company that will create programming for emerging platforms. Bold Soul will tap Gottfred’s background as a novelist and playwright in the YA space as well as Moss’ background as a producer on digital projects.
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