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☆ Disney just had its worst day in a year and a half
▼ + stars: | 2024-05-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Disney managed a rare feat for a legacy media company: Its streaming service actually turned a profit — with some caveats. It was Disney’s worst stock trading day in 18 months. That’s a lot of money, but it is a pretty huge improvement over the $659 million loss the collective streaming business reported in the same period a year ago. Streaming is new(ish) and very different beast from the traditional cable TV model Disney and other media giants like Paramount, Viacom and Warner Bros. “It is a very tough business,” Verna said.

Persons: CNN Business ’, New York CNN — Disney, ” Paul Verna, ” Disney, ” Verna, Bob Iger, It’s, ” “ Indiana Jones, ”, Iger, Brian Mulberry Organizations: CNN Business, New York CNN, Disney, ESPN, Apple, Netflix, Paramount, Viacom, Warner Bros ., Zacks Investment Management Locations: New York, “, India

☆ Warner Bros. Discovery reengineers the traditional TV bundle for the streaming era
▼ + stars: | 2023-04-13 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

In effect, WBD announced that it is recreating the bundle, erecting the pillars of a one-stop shop for scripted and unscripted television, movies, news and sports at a flat monthly rate. Insider Intelligence analyst Paul Verna noted to me that the WBD competitor has “resisted the temptation” to combine Disney+, Hulu, and ESPN+. Instead, Verna observed that Disney is “leaning into each brand’s core strength,” though Disney does offer the ability to purchase the individual services in a bundle. But it goes without saying that Max — the product of the merger between WarnerMedia and Discovery — represents the future for WBD, which has been entrenched in the declining traditional TV business. The Max service launches May 23.

Airport workers across the country are rallying and walking off the job Thursday to draw attention to their current working conditions and legislation that could improve them. Workers at 15 U.S. airports, including ones in Dallas, Los Angeles, Miami, New York City and Phoenix, plan to participate in on-site rallies. Formal strikes — which could disrupt operations — are planned at Boston's Logan International Airport, Chicago's O'Hare International Airport and the Newark Liberty International Airport. The rallies are in support of the Good Jobs for Good Airports Act, introduced in June by Sen. Ed Markey, D-Mass. It would set a minimum wage of $15 for airport service workers, as well as ensure the workers have paid time off, holidays, adequate health care and other benefits.

☆ Deep cuts at AMC Networks signals turbulent time for media industry
▼ + stars: | 2022-11-29 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

The cuts, first reported by The Wall Street Journal, will amount to 20% of its US workforce, which is roughly 1,700 employees, AMC said. “At the same time we have seen the rise of direct to consumer streaming apps including our own AMC+. It was our belief that cord cutting losses would be offset by gains in streaming,” Dolan wrote. And the havoc being wreaked upon AMC Networks could foreshadow what is yet to come for others. “We’ve already seen layoffs and restructuring for a handful of companies,” Insider Intelligence principal analyst Paul Verna told CNN on Tuesday.

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