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Warner Bros. Discovery and rival Paramount Global are in early merger talks, sources familiar with the matter told CNBC. Warner Bros. Warner Bros. Warner Bros.

Persons: David Zaslav, Bob Bakish, Shari Redstone, David Ellison's Skydance, Gerry Cardinale's, Liberty Media's John Malone, Joe Biden's, There's, Axios, — CNBC's Drew Richardson Organizations: Warner Bros . Discovery, Paramount Global, CNBC, Warner Bros, Discovery, Paramount, Redstone, Amusements, CBS, Warner Media, Netflix, Liberty, Media, Morris Trust, Comcast, CNBC PRO

Activist investor Nelson Peltz and his firm are seeking more than two seats on Disney's board, according to a person familiar with the matter, setting the stage for a proxy fight. "Mr. Peltz, in partnership with Isaac Perlmutter, a former Disney executive, intends to take its case to shareholders. Mr. Perlmutter owns 78% of the shares that Mr. Peltz claims beneficial ownership of, or more than 25 million of the 33 million shares," Disney said in a statement. Disney shares are up about 6% this year, far underperforming the S&P 500. Peltz had earlier pushed for a seat on Disney's board after Trian took an approximately $800 million stake in Disney.

Persons: Nelson Peltz, Peltz, Disney, Trian, Morgan Stanley, James Gorman, Jeremy Darroch, Francis deSouza, Sir Jeremy Darroch, Ike Perlmutter, Bob Iger, Perlmutter, Isaac Perlmutter, Robert A, Iger, – CNBC's Alex Sherman Organizations: Trian Fund Management, Future Investment Initiative, Summit, Disney, Sky, Peltz, Disney's, CNBC Locations: Miami , Florida

☆ Nashville hot chicken is everywhere, but it's still at the heart of its hometown's culture
▼ + stars: | 2023-11-29 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +7 min

Prince's Hot Chicken Courtesy: Prince's Hot ChickenNashville hot chicken had its humble beginnings nearly a century ago. At the same time, large fast-food companies such as KFC, Baja Fresh, Dave's Hot Chicken and more are increasingly featuring Nashville hot chicken on their menus. The Nashville hot chicken origin storyBut Nashville hot chicken isn't just a spicy new trend. Owner Andre Prince of Prince's Hot Chicken Courtesy: Prince's Hot ChickenThough the city has changed a lot since Thornton Prince's first hot chicken, Prince's has remained one of the city's classic treasures. 400 Degrees Hot Chicken Photo: Aqui HinesOne of those hot chicken enthusiasts is lifelong Nashville resident Aqui Hines, the owner and chef at 400 Degrees, a hot chicken restaurant in the city.

Persons: Thornton Prince, Semone Jeffries, Read, Prince's, Jeffries, Andre Prince, Thornton Prince's, Kara Nielsen, it's, Nielsen, Hines, Aqui Hines, she's, you've, Eric White, White, he's, It's, I'm, Mike Calia Organizations: KFC, Baja, Nashville, CNBC Locations: Tennessee, Technomic, Nashville, Black, Prince's, Florida, India, Canada, Germany, Manhattan

☆ Whoever ends up playing Elon Musk could be bound for Oscar glory
▼ + stars: | 2023-11-12 | by ( Mike Calia | ) www.cnbc.com time to read: +1 min

SpaceX, Twitter and electric car maker Tesla CEO Elon Musk, attends a US Senate bipartisan Artificial Intelligence (AI) Insight Forum at the US Capitol in Washington, DC, on September 13, 2023. Maybe the hottest question in Hollywood right now is: Who will play Elon Musk? Earlier this year, Brendan Fraser won best actor for his role as a reclusive and depressed professor in Aronofsky's "The Whale," while Hong Chau received a best supporting actress nomination. In 2011, Natalie Portman won best actress for the director's psychological ballet drama "Black Swan." Before that, Ellen Burstyn was nominated for best actress in 2001 for Aronofsky's disturbing drug-addiction drama "Requiem for a Dream."

Persons: Elon Musk, Elon, Walter Isaacson's, Tesla, Darren Aronofsky, Aronofsky, Oscar, Brendan Fraser, Hong Chau, Natalie Portman, Mickey Rourke, Marisa Tomei, Ellen Burstyn Organizations: SpaceX, Twitter, Artificial Intelligence, ?, NBC News Locations: Washington ,, Hollywood, Hong

☆ Vince McMahon plans to sell a big chunk of his shares in WWE parent TKO
▼ + stars: | 2023-11-09 | by ( Mike Calia | ) www.cnbc.com time to read: +2 min

World Wrestling Entertainment Inc. Chairman Vince McMahon appears in the ring during the WWE Monday Night Raw show at the Thomas & Mack Center August 24, 2009 in Las Vegas, Nevada. Vince McMahon plans to sell a substantial chunk of his stake in TKO , the parent company of WWE, the wrestling empire founded by his father, TKO said in a release ThursdayTKO's stock fell 5% after the closing bell Thursday. McMahon intends to sell 8.4 million of his shares, worth about $700 million. He owned more than 28 million shares as of August, according to a regulatory filing. The company said it and several executives are looking to buy shares from McMahon.

Persons: Vince McMahon, TKO, McMahon, honcho, Dwayne, Johnson, John Cena, Ari Emanuel, hasn't Organizations: Entertainment Inc, WWE, Thomas &, Forbes, UFC, Endeavor Group, Endeavor, Endeavor's Locations: Las Vegas , Nevada, McMahon, Silver

☆ Disney to buy remaining Hulu stake from Comcast in widely expected move
▼ + stars: | 2023-11-01 | by ( Mike Calia | ) www.cnbc.com time to read: +1 min

Disney said Wednesday that it had agreed to buy Comcast 's one-third stake in streaming service Hulu, a long-expected outcome. Disney said it expects to pay Comcast's NBCUniversal about $8.61 billion by Dec. 1, reflecting the guaranteed minimum value of $27.5 billion for the streaming service the two sides agreed upon in 2019. Disney could pay more based on Hulu's equity value as of Sept. 30. Originally, Disney and Comcast had set a deadline to resolve Hulu's ownership by January. Disney already sells Hulu as part of a streaming bundle with its Disney+ and ESPN+ products.

Persons: Disney Organizations: Comcast, Hulu, Disney, ESPN, CNBC Locations: Hulu

☆ 'Five Nights at Freddy's' rides PG-13 rating, video game fame to Halloween box office crown
▼ + stars: | 2023-10-30 | by ( Mike Calia | ) www.cnbc.com time to read: +1 min

If anything was going to topple Taylor Swift at the box office, it had to be a killer animatronic bear, right? Swift's "Eras Tour" concert film came second for the weekend, with an estimated $14.7 million, putting its domestic total at $149.3 million. "Five Nights" is also based on a popular horror-survival video game series that gave it a built-in younger audience. That helped it overcome generally awful reviews that left the film with a 26% "rotten" rating on movie-review aggregator Rotten Tomatoes. Data firm EntTelligence said the movie accounted for 65% of foot traffic to theaters during the weekend.

Persons: Taylor Swift, Chuck E, EntTelligence, Audiences, Emma Tammi's Organizations: Universal, Rotten

☆ Disney pulls Jonathan Majors movie 'Magazine Dreams' from schedule amid assault case
▼ + stars: | 2023-10-27 | by ( Mike Calia | ) www.cnbc.com time to read: +1 min

Jonathan Majors, and his girlfriend, Meagan Good, flanked by his lawyer Priya Chaudhry (R), arrive to Manhattan Criminal court for his pre trial hearing on August 03, 2023 in New York City. Disney on Friday said it was pulling troubled star Jonathan Majors' next film, "Magazine Dreams," from the schedule this December. Majors' trial for assault charges is scheduled to begin Nov. 29 in New York. Disney hasn't weighed in on the matter, despite Majors being front and center for the company's plans for its lucrative Marvel Cinematic Universe. "Magazine Dreams," a drama about a bodybuilder played by Majors, premiered at the Sundance Film Festival earlier this year to critical acclaim.

Persons: Jonathan Majors, Meagan, Priya Chaudhry, Majors, It's, Disney hasn't, Disney didn't, Grace Jabbari, Disney Organizations: Disney, Majors, Marvel Cinematic, Marvel, , New York, Sundance Film Locations: New York City, New York, HBO's, , New

☆ Ari Emanuel's Endeavor says it will explore strategic alternatives, sending stock higher
▼ + stars: | 2023-10-25 | by ( Mike Calia | ) www.cnbc.com time to read: +1 min

Endeavor Group Holdings , the talent agency and sports company run by Ari Emanuel, said Wednesday it would start exploring strategic alternatives for the company, which could mean a potential sale. The move comes weeks after French billionaire Francois-Henry Pinault agreed to buy a majority stake in Endeavor rival Creative Artists Agency. Endeavor's market value, likewise, was $7.79 billion as of Wednesday's market close, having declined 21% so far this year. Notably, Endeavor said it wouldn't consider ditching its interest in TKO Group Holdings , the newly formed combat sports company that includes Vince McMahon's WWE and Dana White's UFC. Endeavor owns 51% of TKO, which began trading on the New York Stock Exchange last month.

Persons: Ari Emanuel, Mark Bradford, George Lucas, Gucci, Emanuel, Francois, Henry Pinault, Vince McMahon's, Dana White's, – CNBC's Alex Sherman Organizations: Endeavor Group Holdings, Endeavor, Creative Artists Agency, Holdings, Vince McMahon's WWE, Dana White's UFC, New York Stock Exchange Locations: LACMA, Los Angeles , California

☆ Stocks making the biggest moves after hours: Meta, Whirlpool, Mattel, Endeavor and more
▼ + stars: | 2023-10-25 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Meta posted revenue of $34.15 billion and earnings of $4.39 per share. Analysts polled by LSEG called for $33.56 billion in revenue and $3.63 in earnings per share. Align posted $2.14 in adjusted earnings per share and revenue of $960 million, missing estimates from analysts polled by LSEG. Mattel posted $1.08 per share in adjusted earnings, while analysts polled by LSEG called for 86 cents in earnings per share. Whirlpool — The home appliance company dropped 5% after Whirlpool trimmed its earnings guidance for the full year.

Persons: ServiceNow, LSEG, Joe Hogan, Mattel, Ari Emanuel, —, Darla Mercado, Mike Calia Organizations: LSEG, IBM, Revenue, Facebook, Meta, Mattel, Whirlpool, Endeavor Group Holdings, Endeavor, Holdings, WWE, UFC Locations: LSEG

"The Exorcist: Believer" possessed the box office during its opening weekend, but industry experts wonder if it will continue to turn heads in the weeks to come. Still, on a production budget of just $30 million, "The Exorcist: Believer" could prove profitable if it continues to lure moviegoers in the coming weeks. "The Exorcist: Believer" fled from its original release date (Oct. 13) because Swift announced her Eras Tour concert film would arrive in cinemas that day. The film quickly snared the coveted, higher priced, premium format screens, leaving little room for "The Exorcist: Believer" to eke out a solid opening. The potential same-day opening was almost immediately shut down when "The Exorcist: Believer" moved its release date up a week.

Persons: There's, Taylor Swift, Swift, Paul Dergarabedian, Comscore ., Oppenheimer, Jason Blum Organizations: Comscore, Universal

☆ 'The Exorcist: Believer' and Hispanic audiences: A match made in horror movie heaven
▼ + stars: | 2023-10-05 | by ( Mike Calia | ) www.cnbc.com time to read: +8 min

In this article CMCSAUVV Follow your favorite stocks CREATE FREE ACCOUNTStill from the set of "The Exorcist: Believer." The new "Exorcist" movie will draw big Hispanic audiences. Universal is seeing stronger-than-average Hispanic interest for "The Exorcist: Believer" as the movie heads into its opening weekend, according to people familiar with the matter. Hispanic and Latino viewers will have a big say in how "The Exorcist: Believer" does at the box office, no matter what. They tend to represent 26% of horror movie audiences, compared with 20% for other genres, according to the Comscore/Screen Engine PostTrak Audience Survey.

Persons: Lea, Rolando Rodriguez, Leslie Odom Jr, Hamilton, Taylor Swift, Paul Dergarabedian, R.C, Jara, Max von Sydow, Linda Blair, Bela Lugosi, Guillermo del Toro, bogeyman El, Llorona, Angel Melanson, they're, William Peter Blatty, Ellen Burstyn, Jason Miller, Melanson, David Gordon Green, Alfred Hitchcock's, William Friedkin, there's, Green Organizations: Studios, National Association of Theatre Owners, Comscore, Survey, Bettmann, Getty, Universal, CNBC, Pew Research Center, Universal Studios, Hollywood Locations: Cuban, Georgia, Hollywood, United States

GameStop said Thursday morning that billionaire activist investor Ryan Cohen would take over as the video game retailer's chief executive, chairman and president effective immediately — and he won't be collecting a salary. GameStop's board, with Cohen abstaining, unanimously voted to appoint the entrepreneur as the retailer's top executive on Wednesday. Cohen had previously held the title of executive chairman but will step down from the role upon his latest appointment, according to a securities filing. Cohen won't "receive any compensation" for his work, a news release said. The move comes more than three months after GameStop fired CEO Matthew Furlong, made Cohen executive chairman and appointed longtime company soldier Mark Robinson as its "principal executive officer" and general manager.

Persons: Ryan Cohen, Cohen, Matthew Furlong, Mark Robinson, Furlong, Diana Saadeh, Jajeh Organizations: GameStop

☆ Walgreens CEO Roz Brewer steps down after more than 2 years in the role
▼ + stars: | 2023-09-01 | by ( Mike Calia | ) www.cnbc.com time to read: +1 min

Walgreens Boots Alliance said Friday that Roz Brewer had stepped down as the company's chief executive. Brewer and Walgreens were in a rough patch leading up to Friday's announcement. In June, the company reported fiscal third quarter earnings that missed Wall Street expectations for the first time since July 2020. Walgreens said it is searching for a new CEO. A veteran of Walmart and Starbucks, Brewer had led Walgreens since March 2021.

Persons: Roz Brewer, Brewer, Ginger Graham Organizations: Walgreens Boots, Walgreens, Walmart, Starbucks

Goldman Sachs is in talks to offload its Apple credit card and high-yield savings account products to American Express , a source told CNBC's Leslie Picker. Goldman Sachs, Apple and American Express declined to comment. The Wall Street Journal first reported the Goldman talks with American Express. In October, the Journal reported Goldman and Apple renewed their partnership through 2029. "This week, we announced the launch of a savings account for Apple Card users.

Persons: Goldman Sachs, CNBC's Leslie Picker, Goldman, David Solomon, Denis Coleman, Coleman, –, Steve Kovach, Phil LeBeau, Hugh Son Organizations: American Express, Apple, CNBC, Street Journal, Goldman, Apple Card, Motors, GM

☆ Warner Bros. needs to stop copying Disney and let its superheroes fly solo
▼ + stars: | 2023-06-25 | by ( Mike Calia | ) www.cnbc.com time to read: +2 min

DC Studios needs more than a hero, it needs a new strategy – something different than even its recently established reboot plan. DC and its parent company, Warner Bros. Warner Bros. The problem is, Warner Bros. and DC are already working through the tail end of a previous – and failed – attempt to tie their characters together through multiple films and shows. The likely answer to Warner Bros. and DC's issues is right in front of them, though: Character-specific franchises that adhere to one filmmaker's vision, not a TV-style writers room.

Persons: Adam, haven't, David Zaslav, James Gunn, Peter Safran, It's, Christopher Nolan's, Todd Phillips, Matt Reeves, Oscar, Joaquin Phoenix, Robert Pattinson, Andy Muschietti, Pattinson, Gunn Organizations: DC Studios, Warner Bros, Marvel, Disney, Discovery, DC's Justice League, Marvel's, DCU Batman, Knights

Christine McCarthy, Disney's chief financial officer, will step down from that role, the entertainment giant said Thursday. She will take a family medical leave of absence, and during that time, she will continue as a strategic advisor to Disney , the company said. Veteran Disney executive Kevin Lansberry, who currently works as finance chief for Disney's parks business, will become the company's interim CFO effective July 1. McCarthy, who started with Disney in 2000 and became CFO in 2015, leaves as Disney undergoes a broad restructuring during Bob Iger's second tenure as CEO. During McCarthy's tenure, Disney's streaming spending skyrocketed, and free cash flow fell.

Persons: Christine McCarthy, McCarthy, Disney, Kevin Lansberry, Bob, " McCarthy, Bob Iger's, Bob Chapek, Iger, Christine, — Organizations: Walt Disney Company's, Milken Institute Global, The Beverly Hilton Hotel, Disney, Veteran Disney, Chapek Locations: Beverly Hills , California

PGA Tour Commissioner Jay Monahan is taking a leave of absence as he recuperates from a medical condition, the organization said in a statement late Tuesday, just days after the tour announced a deal to merge business interests with the Saudi-backed LIV Golf league. "Jay Monahan informed the PGA Tour Policy Board that he is recuperating from a medical situation," the tour said in a statement. The tour did not specify the nature of his medical condition nor a timetable to return. The PGA Tour and LIV Golf announced last week their decision to merge business operations to create a new golf entity with money from Saudi Arabia's Public Investment Fund. In a statement Wednesday, the PIF said it was informed of Monahan's medical situation and that it wishes him a speedy recovery.

Persons: Jay Monahan, LIV, Jay, LIV Golf, Ron Rice, Tyler Dennis Organizations: LIV Golf, PGA Tour, Board, Saudi Arabia's Public Investment Fund, PGA Locations: Saudi

☆ The world's top H.P. Lovecraft expert weighs in on a monstrous viral meme in the A.I. world
▼ + stars: | 2023-06-12 | by ( Mike Calia | ) www.cnbc.com time to read: +3 min

Lovecraft's novella "At the Mountains of Madness" — aren't quite perfect, according to the world's leading Lovecraft scholar, S.T. "While I'm sure Lovecraft would be grateful (and amused) by the application of his creation to AI, the parallels are not very exact," Joshi wrote. Read more: How to talk about AI like an insiderFirst of all, it's "shoggoth," not "Shoggoth," Joshi said. "It is a species name, not a proper name," Joshi wrote in an email to CNBC. For instance, a recent fake Toronto Blue Jays ad, created by a TSN producer who used text-to-video AI tech, is packed with horrifying images such as people feasting on each other's hot dog tentacles.

Persons: H.P, S.T, Joshi, Lovecraft, it's Joshi, He's, Kevin Roose, Roose, Harlan Ellison's Organizations: Lovecraft, Providence, The New York Times, CNBC, Times, Workers, Toronto Blue Jays, TSN Locations: A.I, Antarctica

JPMorgan Chase said Monday it has reached a settlement with one of late sexual predator Jeffrey Epstein's victims, who had been suing the bank in federal court. JPMorgan argues that Staley is responsible for any civil liability a jury might find in the Epstein case. Last month, Deutsche Bank, where Epstein became a client after he was forced out by JPMorgan in 2013, settled with Epstein victims for $75 million. The announcement comes more than a week after JPMorgan CEO Jamie Dimon gave a deposition in the Epstein cases. On Friday, lawyers for the Epstein victim, called Jane Doe 1 in documents, asked the court to reopen Dimon's deposition.

Persons: JPMorgan Chase, Jeffrey Epstein's, Jane Doe, Epstein, Jes Staley, Staley, Jamie Dimon, Mary Erdoes, Mary Casey, Dimon, Bill Gates, Prince Andrew of, Bill Clinton, Donald Trump Organizations: JPMorgan, JPMorgan Chase Bank, N.A, U.S . Virgin, Deutsche Bank, Islands, Barclays, Plaintiff, Microsoft Locations: Virgin, Florida, New York

Former President Donald Trump speaks to guests at the 2023 NRA-ILA Leadership Forum on April 14, 2023 in Indianapolis, Indiana. Donald Trump has become the first U.S. president, former or otherwise, to be indicted on federal criminal charges. Trump announced in Thursday posts on his Truth Social platform that prosecutors had notified his attorneys he had been indicted. Trump, the leading contender for the GOP presidential nomination next year, is scheduled to appear at a federal courthouse in Miami on Tuesday. Last month, a grand jury in New York indicted Trump on state charges for allegedly falsifying business records.

Persons: Donald Trump, Trump, Jack Smith Organizations: ILA, NBC News, White, New York, Trump, U.S . Capitol Locations: Indianapolis , Indiana, Miami, New, Georgia

His tenure, which effectively started when he eliminated the network's expensive CNN+ streaming service , was riddled with programming missteps and rock-bottom ratings. "We have great confidence in this group and will fully support them until a new CEO is named," Warner Bros. In the meantime, executives Amy Entelis, Virginia Moseley, Eric Sherling and David Leavy will lead CNN, the company said. Chris Licht is out at CNN after leading the news network for a little more than a year, parent company Warner Bros Discovery announced Wednesday morning. Read Zaslav's memo to staff:All,This morning we are announcing that Chris Licht will be leaving CNN and we will be conducting a wide search, internally and externally, for a new leader.

Persons: Chris, Zaslav, –, David Zaslav, Amy Entelis, Virginia Moseley, Eric Sherling, David Leavy, Chris Licht, Licht, Donald Trump, Leavy, Joe, Stephen Colbert, Read, You've, David Organizations: CNN, Warner Bros, Discovery, Warner Bros Discovery, CBS, Development, MSNBC, CNBC

World Wrestling Entertainment and Endeavor's UFC announced last month they would merge later this year. The new operation will be called TKO Group Holdings, a spokesperson for Endeavor confirmed Tuesday. Emanuel has said he intends to run "the same playbook" with WWE that Endeavor did with UFC, whose revenue surged 20% from 2021 to 2022. UFC and WWE will retain their respective names as part of TKO Group. "This is going to be UFC 2.0," Emanuel said in an interview that aired last month on CNBC's "Squawk on the Street."

☆ Elon Musk: 'I'll say what I want, and if the consequence of that is losing money, so be it'
▼ + stars: | 2023-05-16 | by ( Mike Calia | ) www.cnbc.com time to read: 1 min

Elon Musk told CNBC's David Faber on Tuesday that if his inflammatory tweets scare away advertisers from Twitter, he will accept that. "I'll say what I want, and if the consequence of that is losing money, so be it," said Musk, who owns Twitter. Musk replied defensively as Faber pressed him over a tweet Monday night in which he likened liberal billionaire George Soros to X-Men villain Magneto, a Jewish Holocaust survivor. Soros, who is also Jewish, is a favorite target of right wing pundits and politicians and often the subject of anti-Semitic attacks. For years, Musk has tweeted controversial items, including conspiracy theories and comments his critics have called broadly discriminatory.

☆ Trump urges GOP to let catastrophic debt default happen if Dems don't accept cuts
▼ + stars: | 2023-05-11 | by ( Mike Calia | ) www.cnbc.com time to read: +2 min

Former US president Donald Trump at Trump Turnberry golf course, in South Ayrshire, during his visit to the UK. Former President Donald Trump on Wednesday urged Republican lawmakers to let the United States default on its debt if Democrats don't agree to spending cuts. "I say to the Republicans out there — congressmen, senators — if they don't give you massive cuts, you're going to have to do a default," Trump said. Trump's words could encourage his many GOP supporters in the House to harden their stance against raising the debt limit without corresponding spending cuts. Treasury Secretary Janet Yellen has said the U.S. government could hit the debt limit as soon as June 1.

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