This paper examines how and to what extent financial media coverage of firms is affected by events in cryptocurrency markets. I find that the media responds to the rising demand for news about the cryptocurrency market by either delaying earnings news coverage or lowering the information content in the earnings news articles. On crypto event days, earnings news articles are shorter, rely more on quantitative data, and contain fewer quotes, suggesting that fewer resources are allocated by media firms to earnings news events. Capital markets react less to earnings announcements on crypto event days, plausibly due to the reduced and delayed coverage of earnings news and higher distraction caused by crypto news coverage. Interestingly, the media increases coverage of firm-specific events in the 30-day period after the crypto event to cater to the informational demand from equity investors.