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☆ ‘South Park’ showdown animates streaming dilemma
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, April 21 (Reuters Breakingviews) - Paramount Global (PARA.O) and Warner Bros Discovery (WBD.O) bosses are fighting over “South Park” like the foul-mouthed cartoon fourth graders featured in the hit adult-oriented series. Paramount has countersued its rival to stream the program whose library Warner Bros Discovery bought for $500 million, along with the rights to new episodes, for its newly rebranded Max service. Not long ago, producers were keeping movies and shows to beef up their own streaming audiences. Paramount boss Bob Bakish and Warner Bros Discovery CEO David Zaslav both champion the idea of letting others carry the content for which their companies are paying so dearly to develop. These sorts of complicated dealings will only get tougher as the streaming wars get more cutthroat.

LONDON, April 20 (Reuters Breakingviews) - Film and TV adaptations of video games have a chequered history. But Nintendo’s “Super Mario”, along with HBO’s “The Last of Us”, is flipping the script. Jefferies analysts estimate that the “Super Mario” movie could add $350 million to Nintendo’s operating profit – equivalent to around 8% of its total for the year ending March 2022. The success of recent adaptations may lead media giants like Walt Disney (DIS.N), Comcast and Netflix to wonder what other goodies lie in video game companies. Follow @olivertaslic on TwitterCONTEXT NEWS“The Super Mario Bros. Movie”, an animated film co-financed by Nintendo and Universal Pictures, was released in North America on April 5.

☆ Disney announces groundbreaking for affordable housing in Florida
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

April 19 (Reuters) - Walt Disney World said on Wednesday it would break ground next year on a planned affordable housing development in Central Florida. The unit of Walt Disney Co (DIS.N) said it plans to provide 1,400 housing units on 80 acres (32.4 hectares) of land "a few miles away" from the Magic Kingdom and near schools and shopping. Tensions between Florida Governor Ron DeSantis and Disney began last year, when the company publicly opposed the state's legislation barring instruction of sexual orientation and gender identity in the classroom. Disney responded by pushing through a developer's agreement and restrictive covenants that would limit the new board's actions for decades. The Governor responded by calling on the state lawmakers to pass a bill that would nullify the company's efforts.

Major equity indexes have been largely stable during the early stages of a first-quarter earnings season that investors expect to show tepid results. The Dow Jones Industrial Average (.DJI) fell 79.62 points, or 0.23%, to 33,897.01; the S&P 500 (.SPX) lost 0.35 points, or 0.01%, at 4,154.52; and the Nasdaq Composite (.IXIC) added 3.81 points, or 0.03%, at 12,157.23. The defensive utilities group (.SPLRCU) gained most among S&P 500 sectors, rising 0.8%. S&P 500 companies overall are expected to post a 4.8% decline in first-quarter earnings from the year-earlier period, according to Refinitiv IBES. The S&P 500 posted 16 new 52-week highs and one new lows; the Nasdaq Composite recorded 59 new highs and 123 new lows.

Major equity indexes have been largely stable during the early stages of a first-quarter earnings season that investors expect to show tepid results. The defensive utilities group (.SPLRCU) gained most among S&P 500 sectors, rising 0.7%. S&P 500 companies overall are expected to post a 4.8% decline in first-quarter earnings from the year-earlier period, according to Refinitiv IBES. Shares of Western Alliance Bancorp (WAL.N) surged 23% after the company posted stronger-than-expected earnings, helping lift the SPDR S&P Regional Banking ETF (KRE.P) 4%. The S&P 500 posted 15 new 52-week highs and one new low; the Nasdaq Composite recorded 48 new highs and 111 new lows.

☆ Factbox: 2024 US presidential election: who's in, who's out and who's still thinking about it
▼ + stars: | 2023-04-19 | by ( Ross Colvin | ) www.reuters.com time to read: +7 min

Here is a list of major declared candidates and other potential 2024 hopefuls in both the Democratic and Republican parties. Political analysts say there is little benefit to him jumping into the race too soon, with the election still 19 months away. In the meantime, he can continue to look presidential, although he still has poor approval ratings in opinion surveys. The former Kansas congressman was one of Trump's most loyal lieutenants and initially backed his false claims of a stolen presidential election in 2020. Several of his key staff, though, have recently joined the DeSantis camp, however, suggesting that Youngkin, is not going to run in 2024.

April 19 (Reuters) - Florida Governor Ron DeSantis' new oversight board has discovered another "11th hour agreement" that allows Walt Disney Co (DIS.N) to set its own utility rates at its Orlando theme parks, the board's chairman said on Wednesday. A Disney subsidiary, which provides utility services to the central Florida district that includes the Walt Disney World Resort, negotiated an agreement in February to extend its contract through 2032, Chairman Martin Garcia said at a public meeting. "Last Friday afternoon I learned for the first time about one of these new 11th hour agreements entered into between Disney and the district. "We'll have to evaluate the legality of that agreement, that essentially enables Disney to set their utility rates. The board was established to provide state oversight of a special district around Walt Disney World.

☆ Chris Christie joins Trump in bashing DeSantis over Disney clash
▼ + stars: | 2023-04-18 | by ( Dan Whitcomb | ) www.reuters.com time to read: +2 min

[1/3] Former New Jersey Governor Chris Christie speaks at the Institute of Politics at St. Anselm College in Manchester, New Hampshire, U.S., March 27, 2023. REUTERS/Brian Snyder/File PhotoApril 18 (Reuters) - Former New Jersey Governor Chris Christie joined former U.S. President Donald Trump on Tuesday in criticizing a fellow Republican, Florida Governor Ron DeSantis, over his feud with the Walt Disney Co. (DIS.N). "I don’t think Ron DeSantis is a conservative based on his actions towards Disney,” added Christie, who is also said to be considering a run for the 2024 Republican presidential nomination. Trump, who could be DeSantis' top rival for the Republican presidential nomination in 2024, has called the Florida governor's war with Disney a "political stunt" and suggested it could backfire on the party. DeSantis and the Florida legislature have been working to eliminate the virtual autonomy the company has enjoyed over the Disney World resort and amusement parks for more than 50 years, saying that constitutes an "unfair advantage."

DeSantis told an Orlando radio station on Monday that the bill would "formally nullify" a development agreement Disney struck with outgoing members of the oversight board that ties the hands of DeSantis' appointees. "To do an end-run around the people of Florida shows how arrogant they are," DeSantis told the host of WFLA's "Good Morning Orlando." He and the Florida legislature have been working to eliminate the virtual autonomy the company enjoyed over Walt Disney World for more than century. Before the takeover by DeSantis appointees, Disney pushed through changes to the special tax district agreement that limit the board's action for decades. It also ensures that future boards would honor a commitment to $527 million in planned capital improvements to support Walt Disney World’s growth over the next decade.

☆ Will Netflix price cuts, ad-supported plan help add more users?
▼ + stars: | 2023-04-17 | by ( Yuvraj Malik | ) www.reuters.com time to read: +3 min

[1/2] Smartphone with Netflix logo is seen in front of a descending stock graph in this illustration taken April 19, 2022. Netflix is expected to add 3.43 million subscribers in the April-June period, according to 16 analysts polled by Refinitiv, compared with 970,000 subscriber losses in the year-ago quarter. Amazon knocked Netflix off the top spot in the United States last year, according to consulting firm Parks Associate. Netflix in November introduced a streaming plan with advertising for $6.99 per month in 12 countries, after resisting commercials for years. "In 2020, only one in five new sign-ups were to ad-supported plans; last year, it was nearly one in three."

LOS ANGELES, April 17 (Reuters) - Hollywood writers voted overwhelmingly in favor of giving union negotiators the power to call a strike, moving a step closer to a production shutdown that would hamper studios and disrupt what viewers see on television. The Writers Guild of America (WGA) on Monday said 97.85% of members who voted supported letting negotiators order a work stoppage if they do not have a new contract by May 1. Nearly 80% of the group's 11,500 members voted. The last WGA strike in 2007 and 2008 lasted 100 days. If a strike is called, audiences would first see the impact on late-night talk shows, which use teams of writers to pen topical jokes.

April 17 (Reuters) - Florida Governor Ron DeSantis on Monday fired another shot in his battle with Walt Disney Co (DIS.N), saying the state's Republican legislature would take steps to nullify the company's effort to circumvent state oversight of Walt Disney World. DeSantis said the new bill, announced on Monday, would return control of the special district that is home to Disney World to a state oversight board run by the governor's appointees. [1/2] People gather ahead of the "Festival of Fantasy" parade at the Walt Disney World Magic Kingdom theme park in Orlando, Florida, U.S. July 30, 2022. Before the takeover by DeSantis appointees, Disney pushed through changes to the special tax district agreement that limit the board's action for decades. It also ensures that future boards would honor a commitment to $527 million in planned capital improvements to support Walt Disney World’s growth over the next decade.

Negotiators for the Writers Guild of America (WGA) have asked the roughly 11,500 members to give them the power to call a strike after May 1 if contract talks break down. The last WGA strike, in 2007 and 2008, lasted 100 days. Film and television work has rebounded, but movie-going remains below pre-pandemic levels, despite blockbusters such as "Avatar: The Way of Water." Residuals paid to TV writers hit an unprecedented $493.6 million in 2021. In 2017, WGA members authorized a strike but reached a deal hours before writers headed to picket lines.

The proposal is aimed at protecting woman who live in states where abortion is illegal who travel out of state to have the procedure done - something thousands of women are already doing, research shows. It is unclear whether the proposed rule would actually stifle criminal investigations. The federal Employee Retirement Income Security Act of 1974 (ERISA) covers most health insurance and other company benefit plans and generally preempts state laws on abortion-related coverage. But it does not prevent states from prosecuting plans, sponsors, administrators and their employees in all instances. Reporting By Jarrett Renshaw and Heather Timmons; Editing by Heather Timmons and Mark PorterOur Standards: The Thomson Reuters Trust Principles.

April 11 (Reuters) - Florida Governor Ron DeSantis's newly formed oversight board is seeking to assert control over development in two cities where Walt Disney World Resort is located, the latest twist in a battle for authority over the company's Florida theme parks. A resolution, seen on Tuesday by Reuters, would give the Central Florida Tourism Oversight District board the power to review and evaluate development in the 25,000-square acres of property in and around Walt Disney Co's (DIS.N) theme parks. The district would hold "superior authority and control" over planning, zoning and other land use in the cities of Bay Lake and Lake Buena Vista, under a Florida law that formed the state-appointed oversight board. A spokesperson for Lake Buena Vista and Bay Lake did not respond to Reuters' request for comment. A spokesperson for the oversight board referred inquiries to an attorney, who was not immediately available for comment.

REUTERS/Florence LoWASHINGTON, April 10 (Reuters) - The leader of a U.S. congressional committee on China said on Monday he was concerned about electric carmaker Tesla Inc's (TSLA.O) dependency on China, a day after the company revealed plans to open a Megapack battery factory in Shanghai. Mike Gallagher, the Republican chair of the House of Representatives' select committee on China's Communist Party, said he would like to know how Tesla's CEO Elon Musk balances U.S. government support for Tesla and its operations in China. "I'm concerned about this," Gallagher told Reuters when asked about the battery factory. "Tesla seems entirely dependent, A, on the largesse of the federal government via tax breaks, and B, upon access to the Chinese market," Gallagher said. Tesla generated $18.15 billion in revenue from China last year, accounting for over one fifth of its total revenue.

☆ Kim Kardashian to star in new season of 'American Horror Story'
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

LOS ANGELES, April 10 (Reuters) - Reality television star Kim Kardashian will turn to acting in an upcoming season of FX network's anthology series "American Horror Story," co-creator Ryan Murphy said on Monday. Kardashian will co-star with Emma Roberts in the show's upcoming 12th season, which is based on a forthcoming book called "Delicate Condition." Murphy said in a statement that "American Horror Story" writer Halley Feiffer had crafted "a fun, stylish and ultimately terrifying role especially for Kim, and this season is ambitious and unlike anything we have ever done." Kardashian became a pop culture phenomenon during 14 years with her sisters on reality show "Keeping Up with the Kardashians," which ended in 2021. The extended Kardashian family now appears on "The Kardashians" on Hulu.

☆ Ron DeSantis takes aim at Disney, vows to void Florida theme park development agreement
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +2 min

April 8 (Reuters) - Florida Governor Ron DeSantis ramped up his fight against Walt Disney Co (DIS.N), seeking to void an agreement that Disney passed to limit the power of a board appointed by DeSantis to oversee its Florida theme park property. On Thursday in remarks made at Hillsdale College in Michigan, DeSantis said the legislature would void changes Disney made shortly before it lost control of the board. And so come hell or high water, we're going to make sure that policy of Florida carries the day," the Florida governor said. Florida lawmakers passed a bill in February giving DeSantis effective control over a board that oversees municipal services and development in a special district that encompasses Walt Disney World resort. "What Disney has tried to do is they have tried to say that they should be able to operate outside the context of our constitutional system in Florida," DeSantis said on Thursday.

☆ DeSantis seeks to void Disney's Florida board agreement
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Walt Disney World photographer holds a Pride rainbow-coloured Mickey Mouse cutout before the "Festival of Fantasy" parade at the Walt Disney World Magic Kingdom theme park in Orlando, Florida, U.S. July 30, 2022. REUTERS/Octavio JonesApril 8 (Reuters) - Florida Governor Ron DeSantis ramped up his fight against Walt Disney Co (DIS.N), seeking to void an agreement that Disney passed to limit the power of a board appointed by DeSantis to oversee its Florida theme park property. On Thursday in remarks made at Hillsdale College in Michigan, DeSantis said the legislature would void changes Disney made shortly before it lost control of the board. Florida lawmakers passed a bill in February giving DeSantis effective control over a board that oversees municipal services and development in a special district that encompasses Walt Disney World resort. "What Disney has tried to do is they have tried to say that they should be able to operate outside the context of our constitutional system in Florida," DeSantis said on Thursday.

☆ Actor Jeremy Renner says horrific snowplow accident was 'my mistake'
▼ + stars: | 2023-04-07 | by ( Lisa Richwine | ) www.reuters.com time to read: +3 min

LOS ANGELES, April 6 (Reuters) - Oscar-nominated actor Jeremy Renner said he was at fault in a New Year's Day snowplow accident that left him close to death and that he apologized to his family for putting them through the ordeal. Renner stuck one foot out of the plow to look back at Alex and did not set the parking brake. Renner, then worried that the snowplow would roll back and crush his nephew, said he tried to jump back into the vehicle to stop it. Renner was nominated for an Academy Award for best actor for his work in 2008 film "The Hurt Locker" and for best supporting actor for his work in 2010 movie "The Town." Renner credited the support of his family with helping him survive the snowplow accident.

☆ Daisy Ridley to return as Rey in one of three new 'Star Wars' films
▼ + stars: | 2023-04-07 | by ( Lisa Richwine | ) www.reuters.com time to read: +1 min

Lucasfilm President Kathleen Kennedy announced the new projects in London at the annual Star Wars Celebration fan convention, where the actress took the stage to confirm her return to the blockbuster franchise. Disney purchased Star Wars producer Lucasfilm in 2012 for $4 billion and released three hit films from 2015 to 2019 plus several TV series on the Disney+ streaming service. Fans had been waiting to hear where Star Wars would head on the big screen. The company had put a pause on new "Star Wars" movies after "Rise of Skywalker." It will be led by Dave Filoni and Jon Favreau, the team behind the popular Star Wars TV series "The Mandalorian."

Miramax at the time was owned by Walt Disney Co (DIS.N), which sold the movie studio to an investment group in 2010. The lawsuit names Weinstein, Miramax and Disney as defendants, claiming they were aware that Lombardo was a "danger to women whom he encountered at work," but did nothing to prevent him from victimizing her. According to Ziff's lawsuit, Lombardo and Weinstein were "very close" and Weinstein was best man at Lombardo's 2003 wedding. Imran Ansari, a lawyer for Weinstein, said in an email on Friday that Weinstein had no knowledge of or control over Lombardo's conduct. Ziff is accusing Lombardo of sexual battery and gender-motivated violence, and accuses Weinstein and the companies of negligent supervision.

☆ Ousted Marvel Entertainment Chairman Ike Perlmutter to retain Disney shares
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

April 5 (Reuters) - Marvel Entertainment's former chairman Ike Perlmutter on Wednesday said he will hold on to his Disney (DIS.N) shares, a week after reports of his termination from the role. Reuters reported last Wednesday that Disney had laid off Perlmutter, 80, as part of a cost-cutting campaign. News of Perlmutter's termination had come after he supported activist shareholder Nelson Peltz's unsuccessful bid to obtain a seat on Disney's corporate board. "Trian CEO Nelson Peltz has a long history of improving shareholder returns at many leading consumer businesses," Perlmutter said in a public statement on Wednesday. According to the WSJ report from earlier in the day, he owns about 30 million shares of Disney, worth about $3 billion.

☆ Disney's streaming chief to exit under company revamp
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

Joe Earley, the current president of Hulu, will take over as president of streaming for Disney Entertainment, the company said. Iger is restructuring Disney and promised to cut $5.5 billion in costs to make the company's streaming business profitable. Paull was appointed to run the streaming unit in January 2022 under former Chief Executive Bob Chapek. He is the former CEO of BamTech, a company Disney acquired to power its streaming ambitions. In the new role, Earley will work to expand streaming efforts across Disney+ and Hulu, the company said.

☆ DeSantis wins with Disney co-dependency
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, April 4 (Reuters Breakingviews) - For Walt Disney (DIS.N) Chief Executive Bob Iger, action speaks louder than words. During the Magic Kingdom’s annual shareholder meeting on Monday, Iger took a shot at Florida Governor Ron DeSantis, calling him “anti-business” for his retaliation involving Disney World. DeSantis, for those keeping score, signed a law in February that gives Florida control of Disney’s theme park district, stripping some of its autonomy. The irony is that Iger plans to shower Florida with $17 billion over the next 10 years, he said at the meeting. Iger’s decision to plow more money into Florida only tethers him more to DeSantis’ whims.

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