Luminary Media, a Chicago-based subscription podcast network with exclusive content, reportedly raised around $60 million in new funding. The company has now raised nearly $100 million in total, from backers like NEA.

Why it matters: This comes just weeks after Spotify acquired a pair of large podcast networks, with its own ambitions of becoming Netflix for podcasts. "To some degree, of course, all media start-ups think they are going to be the next Netflix. The test for Luminary will come in the execution. And there are plenty of challenges. Subscription-based businesses are hot at the moment, but analysts say that consumers will begin pushing back and asking, How many entertainment services do I really need to be paying for every month?" writes Brooks Barnes in the New York Times.

Go deeper: Vox Media’s multi-million dollar podcast deal

Go deeper

Pundits react to a chaotic debate: “What a dark event we just witnessed”

The first presidential debate between President Trump and Joe Biden in Cleveland on Tuesday night was a shouting match, punctuated by interruptions and hallmarked by name-calling.

Why it matters: If Trump aimed to make the debate as chaotic as possible with a torrent of disruptions, he succeeded. Pundits struggled to make sense of what they saw, and it's tough to imagine that the American people were able to either.

Trump to far-right Proud Boys: "Stand back and stand by"

Asked to condemn white supremacist violence at the first presidential debate on Tuesday, President Trump said the far-right Proud Boys group should "stand back and stand by," before immediately arguing that violence in the U.S. "is not a right-wing problem. This is a left-wing problem."

Why it matters: Trump has repeatedly been accused of failing to condemn white nationalism and right-wing violence, despite the FBI's assessment that it's the most significant domestic terrorism threat that the country faces. The president has frequently associated antifa and the left-wing violence that has afflicted some U.S. cities with Biden, despite his condemnation of violent protests.

Mike Allen, author of AM
2 hours ago - Politics & Policy

The first Trump v. Biden presidential debate was a hot mess

Photos: Jim Watson and Saul Loeb/AFP via Getty Images

This debate was like the country: Everybody’s talking. Nobody’s listening. Nothing is learned. It’s a mess.

  • We were told President Trump would be savage. Turned out, that was a gross understatement. Even the moderator, Fox News' Chris Wallace, got bulldozed.

Why it matters: Honestly, who the hell knows?