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SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line outside Disney Studios in Burbank, California, U.S., July 25, 2023. The union representing roughly 11,500 film and television writers and the group that represents the studios and streaming companies announced the preliminary agreement on Sunday. The three-year deal, whose details were not disclosed, needs to be approved by the leadership of the Writers Guild of America and union members to officially end the strike. But even after the approval, it will take longer for productions to resume as Hollywood actors are still on strike. Its shares have dropped nearly 14% since the writers' strike started on May 2, while Paramount, Disney and Netflix have lost between 20% and 45%.

Persons: Mike Blake, Walt Disney, Susannah Streeter, Hargreaves Lansdown, WBD, David Zaslav, Craig Huber, Yuvraj Malik, Zaheer Kachwala, Arun Koyyur Organizations: Writers Guild of America, Disney Studios, REUTERS, Warner Bros Discovery, Paramount Global, Netflix, SAG, Hargreaves, Paramount, Disney, Media, Huber Research Partners, Thomson Locations: Burbank , California, U.S, Bengaluru

LOS ANGELES, July 19 (Reuters) - Streaming video pioneer Netflix (NFLX.O) disappointed Wall Street on Wednesday with second-quarter revenue that fell short of analyst estimates, sending shares tumbling nearly 9% in after-hours trading. Netflix has been looking for new ways to make money as streaming competition intensifies and it nears market saturation in the United States. Its nearly 6 million subscriber additions outpaced the 1.9 million that Wall Street expected. Quarterly revenue climbed 2.7% from a year earlier to $8.2 billion, shy of analyst forecasts of $8.3 billion. Netflix said its advertising tier remained a small part of its membership base and that current ad revenue is not material.

Persons: we’ve, Craig Huber, Huber, We've, Spencer Neumann, Jeffrey Wlodarczak, Ted Sarandos, Sarandos, Lisa Richwine, Dawn Chmielewski, Yuvraj Malik, Deepa Babington, Chris Reese Organizations: Netflix, Refinitiv, Huber Research Partners, Research, Thomson Locations: ANGELES, United States, Los Angeles, Bengaluru

May 4 (Reuters) - Paramount Global Inc (PARA.O) missed first-quarter revenue estimates on Thursday amid a weak advertising market in its TV business and cut its dividend. The company incurred a $1.7 billion charge in connection with its plan to integrate Showtime into its Paramount+ streaming service and remove certain programming. Paramount Global said its dividend cut to 5 cents per share will result in approximately $500 million in annualized cash savings. Paramount+, the company's flagship streaming platform, added 4.1 million subscribers during the quarter, compared with 9.9 million in the preceding quarter. Sales for its TV media segment declined by 8% from a year earlier and advertising revenue fell by 11%.

Paramount invested in original content to try to attract subscribers to its streaming platform, but is up against competition from established players such as Netflix (NFLX.O) and Walt Disney Co's (DIS.N) Disney+. Paramount+, the company's flagship streaming platform, added 4.1 million subscribers during the quarter, compared with 9.9 million in the preceding quarter. Sales for its TV media segment declined by 8% from a year earlier, and advertising revenue fell by 11%. Investment in original content and expansion of its streaming platform are consuming cash at the owner of the CBS network. The operating loss was $1.23 billion for the quarter, compared with an operating income of $775 million a year earlier.

NEW YORK, Jan 25 (Reuters) - Large shareholders in News Corp (NWSA.O) on Wednesday applauded Rupert Murdoch's decision to withdraw a proposal to reunite the owner of Dow Jones and Fox Corp , as News Corp decided to pursue a sale of Move Inc instead. On Tuesday, activist investment firm Irenic Capital, which had also opposed the proposed reunion of Fox and News Corp, applauded the decision to not move forward. Cowen & Co's Doug Creutz said investors were pleased by the decision to walk away from a potential combination, saying that pressure from investors like T Rowe Price weighed on the Murdoch's decision to pursue the deal. Fox shares were up about 2% on Wednesday. "The other big question is – does News Corp give their shareholders their pro-rata shares of REA in addition to selling Move?

☆ Media mogul Michael Bloomberg looking to buy Dow Jones or Washington Post- Axios
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

Dec 23 (Reuters) - Billionaire Michael Bloomberg, the owner of Bloomberg L.P., is interested in acquiring either Wall Street Journal parent Dow Jones or the Washington Post, news website Axios reported on Friday, citing an unnamed source familiar with the matter. According to the Axios report, Bloomberg sees News Corp-owned (NWSA.O) Dow Jones, also the publisher of Barron's and MarketWatch, as the ideal fit but would buy the Post if Amazon.com Inc (AMZN.O) founder Jeff Bezos was interested in selling. Bloomberg L.P., the Washington Post and Dow Jones did not immediately respond to Reuters' requests for comment. In October, Rupert Murdoch had started a process that could reunite his media empire, News Corp and Fox Corp (FOXA.O), nearly a decade after the companies split. Reuters competes with Bloomberg News, a unit of Bloomberg L.P., as a provider of financial news.

☆ Media mogul Bloomberg eyes Dow Jones or Washington Post acquisition, no talks yet
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +3 min

According to the Axios report, Bloomberg sees News Corp-owned (NWSA.O) Dow Jones, also the publisher of Barron's and MarketWatch, as the ideal fit but would buy the Post if Amazon.com Inc (AMZN.O) founder Jeff Bezos was interested in selling. Bloomberg L.P., the Washington Post and Dow Jones did not immediately respond to Reuters' requests for comment. "The transaction would be challenged only if the resulting choices leave insufficient competition in the market for either users or suppliers. In October, Rupert Murdoch had started a process that could reunite his media empire, News Corp and Fox Corp (FOXA.O), nearly a decade after the companies split. Reuters competes with Bloomberg News, a unit of Bloomberg L.P., as a provider of financial news.

A spokesperson for the Washington Post, which Bezos bought in 2013 for $250 million, said it is not for sale. "A Bloomberg acquisition of the (Post) is not necessarily just a business decision. According to Axios, Bloomberg sees Dow Jones, also the publisher of Barron's and MarketWatch, as the ideal fit but would buy the Post if Bezos was interested in selling. Dow Jones did not immediately respond to Reuters' request for comment. Reuters competes with Dow Jones and Bloomberg News, a unit of Bloomberg L.P., a provider of financial news.

☆ Activist investor asks News Corp to spin off unit instead of merger with Fox
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +2 min

Nov 21 (Reuters) - Activist investor Irenic Capital Management, which holds 2% of News Corp's (NWSA.O) Class B shares, has suggested a spin-off of the media company's digital real estate business or Dow Jones as an alternative to its merger with Fox Corp (FOXA.O). Shares of News Corp, which has a market value of $10.34 billion, were down 1.7% in morning trade. "Putting the two (News Corp and Fox) together makes no sense to us." In October, media mogul Rupert Murdoch proposed to reunite his media empire by combining News Corp and Fox Corp nearly a decade after the companies split. "The problem is they did not go far enough after they separated out News Corp in 2013," Huber added.

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