$NYT

The New York Times, AFP, and The Economist joined the SPUR coalition, which now has over 80 members. SPUR aims to set standards for AI use of copyrighted news content. Media companies are increasingly suing AI firms, like OpenAI, for unauthorized content use. SPUR is developing tools to help publishers control their IP and license content to AI companies.

The Florida Retirement System Trust Fund and the National Center for Public Policy Research filed a lawsuit against The New York Times (NYT), alleging the board failed to oversee journalistic standards. The suit cites instances of alleged bias, errors, and lack of oversight, including a $9.25M defamation loss and a peer-reviewed study noting 72 errors in a single coverage area. The plaintiffs seek access to corporate records to investigate further.

Shareholders sued The New York Times Company, alleging the board failed to oversee editorial standards, harming the company's financial stability. The plaintiffs, including the State Board of Administration of Florida, cite SEC filings linking credibility to financial performance and point to specific factual errors in coverage. The Times denies wrongdoing, calling the lawsuit meritless and politically motivated.

A24, Sony, and NYT may acquire Letterboxd for $300M, despite its $15M revenue. Netflix develops a live-action Sesame Street movie and extends its TV series deal. Netflix premieres the trailer for Nobody Wants This season 3, set to return October 22.

The New York Times Company's shares fell 9.8% after major shareholders sued, alleging bias in Israel-Hamas war coverage. The suit seeks internal documents, citing a whistleblower's claims. The Times denies allegations, stating the suit lacks merit. Recent financials show revenue growth, but legal costs may impact future results. NYT shares are down 8.2% year-to-date.

Florida's Attorney General, as a trustee for the Florida Retirement System, filed a petition in New York court to inspect The New York Times Company's corporate records. The petition, narrowed to board-level governance records, follows concerns over corporate governance and brand risk. The company denied the request, citing the First Amendment. The case will proceed under state business corporation law.

Florida sued The New York Times, alleging its Israel-Hamas coverage harms shareholder value. The Florida State Board of Administration, overseeing $276B in assets, seeks internal records, claiming governance failures. The Times denies wrongdoing, calling the suit meritless. The SBA holds 161,375 shares of Times stock. The lawsuit follows a prior request for documents that the Times declined to provide.

The New York Times faces a lawsuit from a Florida pension fund, seeking internal records to investigate its Israel coverage and board oversight. The fund, a Times shareholder, alleges bias and poor oversight. The Times calls the demand an attempt to chill journalism. The fund seeks documents, not a ruling on bias. The Florida Retirement System Trust Fund and the National Center for Public Policy Research are involved.

A lawsuit between the New York Times and AI companies has intensified, with unsealed statements from Microsoft and OpenAI executives suggesting their chatbots pose an existential threat to journalism. This has sparked significant options trading activity in NYT stock, with traders betting on a potential settlement or court victory for the Times. The Department of Justice's recent statement supporting AI training on copyrighted work adds complexity to the case.

Five news publishers, including The New York Times, filed a court brief accusing Microsoft and OpenAI of copyright infringement, citing internal messages describing their AI models' use of publishers' content as theft. The brief alleges copying at five stages, including data acquisition and training, and argues that fair use does not apply.