Axios

Hollywood was stunned Thursday by the simultaneous announcements that Richard Plepler and David Levy, the respective heads of HBO and Turner, had "decided to move on" from their plum roles at the top of the WarnerMedia empire. Talk of imminent "massive layoffs" inevitably followed.

The big picture: Plepler ran HBO as a very lucrative high-end operation, bringing in profit of about $2 billion per year as well as some 160 Emmys and an Axios show. He also made it clear that he needed little if any help from his parent company, and that he valued his independence.

The brick-and-mortar retail shuffle continues as more acquisitions are on their way for a collection of children's clothing companies, including Gymboree, which sold to competitor Children's Place, while Gap Inc. intends to acquire Janie and Jack, the Wall Street Journal reports.

Details: Both transactions will still need to be verified in bankruptcy court. Children's Place is paying $76 million for the rights to Gymboree, its Crazy 8 brand and Singapore-based Zeavion Holding. Meanwhile, Gap's eventful week continues, closing out with the $35 million purchase of Janie and Jack and a secondary acquisition of the chain's inventory out of liquidation.

Go deeper: Retail spending sees biggest monthly drop since 2009

President Trump called the Justice Department's Russia investigation "a phony witch hunt" at the Conservative Political Action Conference Saturday, suggesting the probes are "trying to take me out with bullshit."

The big picture: Trump's comments come as Democrats ramp up their probes and the Mueller investigation is reportedly winding down. The investigation has already resulted in 199 criminal charges, 37 indictments or guilty pleas and 4 prison sentences.

Two journalists with the UC Berkeley Investigative Reporting Program are being called to destroy files they obtained, outlining 10 years of data on arrests and convictions against California police officers, according to the Washington Post.

Details: California Attorney General Xavier Becerra said the files — obtained by a public records request — shouldn't have been shared with the journalists, per the Washington Post. The police have requested that the reporters refrain from publishing their findings, including revelations of domestic abuse, child molestation and murder. For now, the parties are at a stalemate, with the question remaining whether the material is a matter of public concern.

Go deeper: FBI says it has first national database of "police-involved shootings"

A series of scary headlines, legal actions and pranks this week have reminded the nation of the perils of the internet for our most vulnerable population: children.

Why it matters: The long-term impact on children growing up in today's device-centered media environment is largely unknown, and research on the topic is so far preliminary. But parents, teachers and regulators worry that a lack of safeguards around kids' privacy and online content could have dangerous consequences.