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Legacy media companies like Disney , Warner Bros. Netflix was the first streamer to report a loss in subscribers in 2022, sending its stock and other media companies spiraling. Media companies also have begun slashing content spending budgets. Yet streaming remains the focus for all of these companies as consumers rapidly cut the cord and opt for streaming. Legacy media companies scrambled to follow suit, unsure if the model actually worked.

Persons: Mario Tama, it's, Steven Schiffman, NBCUniversal, Bob Iger, Ken Solomon, Solomon, Marc DeBevoise, John Hodulik, hasn't, —, Hulu —, Peacock, Max —, HBO Max, — Ryan Murphy, Shonda, Kenya Barris, David Benioff, Weiss —, Jonathan Miller, Shonda Rhimes, Presley Ann, Patrick McMullan, Bart Simpson, esports, DeBevoise, Peter Csathy Organizations: Netflix, Getty, North, Georgetown University, Legacy, Disney, Warner Bros, Discovery, Paramount, Media, Marvel, Tennis Channel, Sinclair, Companies, UBS, CBS, HBO, Max, Hulu, Integrated Media, Trek, Universal Studios Television, Getty Images Disney, Wars, Fox, Hollywood's, Creative Media, Charter Communications, ESPN, & $, + + Locations: Los Angeles, North American, J.J, Abrams, Kenya, Beverly Hills , CA, Georgetown

Taylor Swift performs onstage during the Taylor Swift | The Eras Tour at Lumen Field on July 22, 2023 in Seattle, Washington. A concert film of Taylor Swift's "The Eras Tour" is hitting movie theaters on Friday, Oct. 13 – the same day as the next installment of the "Exorcist" horror franchise, making for another potential wild movie double feature. Discovery' s "Barbie" and Universal' s "Oppenheimer" hit theaters on the same day, leading to a double-feature cultural event and driving massive box office sales. "The Exorcist: Believer," produced by horror film studio Blumhouse, takes place 50 years after the original film. The film stars Leslie Odom Jr. of "Hamilton" fame and Ellen Burstyn, who starred in the 1973 demonic possession classic.

Persons: Taylor Swift, Lumen Field, Taylor, hashtag, Oppenheimer, Leslie Odom Jr, Hamilton, Ellen Burstyn, Swift Organizations: Warner Bros, Universal Locations: Seattle , Washington

Tucker Carlson is back – on Twitter. Carlson was abruptly fired from his prime time post at Fox News weeks ago, shortly after the network paid a settlement to Dominion Voting Systems in its defamation lawsuit. In a three minute video posted to Twitter, Carlson berated the mainstream media allegedly lying to the public. Carlson added that Twitter "is not a partisan site." That Monday Fox said in a statement "FOX News Media and Tucker Carlson have agreed to part ways.

Disney said Wednesday it is planning to reorganize into three segments, while also cutting thousands of jobs and slashing costs. Disney executives said about $1 billion in cost cutting was already underway since last quarter. Disney also said it would be eliminating 7,000 jobs from its workforce. Chapek's removal came shortly after Disney had reported its fiscal fourth quarter earnings, disappointing on profit and certain key revenue segments. He had also told employees shortly thereafter that Disney would be cutting costs through hiring freezes, layoffs and other measures.

Shares of Paramount Global fell Tuesday after CEO Robert Bakish warned that fourth-quarter advertising revenue would be lower than the company's sluggish third-quarter figures. Paramount's ad revenue declined 2% in the third quarter. Paramount isn't the only media company to say the ad market is rough. NBCUniversal CEO Jeff Shell said at the UBS conference Monday that it has steadily worsened over the last six to nine months. Programing note: Paramount CEO Robert Bakish will appear on CNBC's "Squawk on the Street" on Wednesday at 10 a.m.

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