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☆ Insiders question WPP CEO Mark Read's bounceback plan after chaotic period of mergers, account losses, and a stock market slump
▼ + stars: | 2023-10-25 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +11 min

"OMD and Publicis are winning all the meaningful pitches," said a former WPP agency executive, referring to competitors Omnicom and Publicis Groupe. Further, GroupM is just one of the many parts of WPP's business that Read needs to fix. Insiders describe a whirlwind of change but confusion about the bigger visionA current WPP agency executive said they were frustrated by what they described as a vacuum of information about the bigger strategy for WPP. Getty Images"It feels like something bigger has to happen now," said a current WPP agency executive. The ongoing pitch for Volkswagen's $4 billion global media business underscores the tremendous amount of resources needed to win the proposal, and the huge prize at stake.

Persons: Christian Juhl, San, GroupM, Publicis, Kirk McDonald, McDonald didn't, Ogilvy, it's, Thomas Singlehurst, Juhl, Mark Read's, It's, Read, Martin Sorrell, AKQA, Sard, Wunderman Thompson, J.Walter Thompson, Joanne Wilson, Andrew Scott, Roberto Quarta, Angela Ahrendts, Craig Barritt, —, haven't, Clark, Arthur Sadoun, WPP's Read, Michael Farmer Organizations: WPP, Publicis, L'Oreal, Omnicom Media Group, Pfizer, North, GroupM, Verizon, Discovery, Adobe, Citigroup, Shanghai, reined, AKQA Group, Finsbury Glover, Partners, Young, Rubicam, London Stock Exchange, Brexit, Getty, Burberry, Apple, The New School Industry, VW, Groupe, Epsilon Locations: San Francisco, China, EssenceMediaCom, Kansas, Kansas City, New York, Mayfair , London, New York City

☆ Paramount's Shari Redstone is open for business, but business may not be open for her
▼ + stars: | 2023-10-22 | by ( Alex Sherman | ) www.cnbc.com time to read: +11 min

Paramount Global 's controlling shareholder is open to a merger or selling the company at the right price, according to people familiar with her thinking. Spokespeople for Redstone and Paramount Global declined to comment. Paramount Global's market value was below $8 billion as of Friday. Discovery could merge with Paramount Global, though putting together Warner Bros. and Paramount Pictures may hold up deal approval with U.S. regulators. Paramount Global isn't actively working with an investment bank on a sale, according to people familiar with the matter.

Persons: Shari Redstone, David A, CNBC Shari, Jon Miller, SpongeBob, Guggenheim, Michael Morris, Morris, Warren Buffett, Berkshire Hathaway, Bob Bakish, Bakish, Wells, Steven Cahall, Cahall, CNBC's David Faber, Lina Khan, Laura Martin, haven't, Simon, Simon & Schuster, Sumner Redstone, NAI, Jim Cramer Organizations: National Amusements, Paramount Global, Allen & Company Sun Valley, Grogan, CNBC, Paramount, Redstone, Integrated Media, Advancit, Paramount Pictures, CBS, MTV, Nickelodeon, Comedy Central, BET, Showtime, NFL, Champions League, Viacom, Berkshire, Paramount Global's, Tech, Apple, YouTube, National Football, Federal Trade, Big Tech, Comcast, NBC, Fox, Disney, Needham & Co, Netflix, Bain, Co, Warner Bros, Sky, Scripps, Discovery, Simon &, MSD Partners Locations: Sun Valley , Idaho, Los Angeles , California, U.S

☆ Hollywood insiders are bracing for M&A activity to make a comeback, as 10 experts reveal the deals they're predicting
▼ + stars: | 2023-10-17 | by ( Reed Alexander | Lucia Moses | ) www.businessinsider.com time to read: +12 min

"The unknown is hard to transact in," Sam Powers, the global head of technology, media, and telecommunications for Bank of America, told Insider. Microsoft's $69 billion acquisition of Activision , which was completed Thursday, has also put media and tech M&A back in the spotlight. "People have been holding their breath in nervous anticipation" about the idea of tech buying big media , one investor told Insider. Private-equity bets on media and Hollywood have seen mixed resultsPrivate-equity firms may have the cash to finance major media acquisitions, but they're reckoning with market volatility. Are you a Hollywood insider?

Persons: Hollywood dealmakers, Jonathan Handel, Sam Powers, Bob Iger, —, Byron Allen, Greg Doherty, Iger, Disney's, Byron Allen —, Allen, Disney, it's, Handel, It's, you've, Reese Witherspoon, Dave Kotinsky, Moonbug, Reese Witherspoon's, Jeff Zucker, Abu, Tom Staggs, Kevin Mayer, Lucia Moses, Reed Alexander Organizations: Hollywood, Puck News, Bank of America, SAG, Writers Guild of America, Disney, ESPN, Activision, Byron Allen The Weather, Wall Street shareholders, Bureau of Labor Statistics, Hulu, ABC, Nexstar Media Group, Allen Media Group, Weather, Lionsgate, Starz, Paramount, BET, Warner Bros, Games, Disney Digital Network, Maker Studios, Observers, Comcast, Paramount Global, Tech, MGM, Microsoft, Netflix, Apple, RedBird Capital Partners, RedBird IMI, Private, SP, G Global Market Intelligence, Bloomberg, Media, Apollo Global Management, Yahoo Locations: Hollywood, Blackstone, Abu Dhabi, lmoses@insider.com, ralexander@insider.com

The central bank's quest for a "soft landing" of more slowly rising prices and continued economic growth looks increasingly probable. In fact, the U.S. may hit a sweet spot just as the 2024 presidential election campaign crescendos next year. Rather than cheering, though, after years of economic turbulence since the coronavirus pandemic erupted in 2020, Americans grumble, at least if you ask them about the economy. With fast rising prices and the end of an array of pandemic-era government benefit programs, inflation-adjusted household income fell last year, and the poverty rate increased. A Biden adviser said the White House understands that the economy and inflation are a critical issue, and the campaign has a big media push planned on "Bidenomics."

Persons: Sarah Silbiger, Jerome Powell, crescendos, grumble, Joe Biden, Donald Trump, Jimmy Carter's, Ronald Reagan, George H, Bush, Democrat Bill Clinton, Clinton, Biden, They've, that's, Robert Shiller, stupidly, Shiller, Powell, Howard Schneider, Trevor Hunnicutt, Heather Timmons, Paul Simao Organizations: El Progreso Market, Washington , D.C, REUTERS, Rights, . Federal, Reuters, Republican, Biden, Democrat, U.S . Consumer, Yale University, McKinsey & Company, McKinsey, Thomson Locations: Mount Pleasant, Washington ,, U.S

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. REUTERS/Mike Blake/File Photo Acquire Licensing RightsSept 25 (Reuters) - Big media companies gave up early share gains from hopes of an end to screenwriters' strike on Monday as focus shifted to an ongoing strike by actors, whose resolution is crucial for a full return to work in Hollywood. But a strike by a larger guild of actors is still on. Nearly 160,000 film and television actors, stunt performers and other media professionals walked off the job in July, demanding higher wages and protection against artificial intelligence use. 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, Rosenblatt, Barton Crockett, Yuvraj Malik, Zaheer Kachwala, Arun Koyyur Organizations: Writers Guild of America, Disney Studios, REUTERS, Big, Warner Bros Discovery, Paramount Global, Hargreaves, Paramount, Disney, Netflix, Media, Thomson Locations: Burbank , California, U.S, Hollywood, Bengaluru

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

The Writers Guild of America (WGA), which represents roughly 11,500 film and television writers, reached a preliminary three-year deal with major studios on Sunday. While actors remain on strike, late-night and daytime talk shows may resume production once their writers receive the Guild's greenlight to return to work in the coming days or weeks. Film and television producer Todd Garner said he expects that once actors reach a deal, scores of productions will race to restart at once. Major television shows and movies are contractually in first position with actors, Garner said. 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: David Swanson, Drew Barrymore, Barrymore, Jimmy Fallon, Todd Garner, Garner, " Garner, Walt Disney, Susannah Streeter, Hargreaves Lansdown, Rosenblatt, Barton Crockett, Lisa Richwine, Dawn Chmielewski, Yuvraj Malik, Zaheer Kachwala, Arun Koyyur, Sandra Maler Organizations: Netflix, Writers Guild of America, REUTERS, Hollywood, Guild of America, SAG, Long, Warner Bros Discovery, Comcast, Hargreaves, Paramount, Disney, Thomson Locations: Los Angeles , California, U.S, California, Los Angeles, Bengaluru

☆ Disney, Charter’s Spectrum deal will reshape media -executives
▼ + stars: | 2023-09-14 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +5 min

Disney also agreed to drop eight of its less-viewed networks, signaling the end of bloated cable TV bundles. Broadcasters could negotiate fees that included adding new cable TV channels. The new type of bundle deal combining traditional channels with streaming services provides a way forward for the media business. Pity the cable TV channels that few people watch, said one TV station group executive. Paramount Global has created numerous spin-offs of its main cable channels, with Nickelodeon siring five programming offspring, Nick Jr., Nick at Nite, TeenNick, Nicktoons and Nick Music.

Persons: Dado Ruvic, John Malone, Walt Disney, ”, Craig Moffett, “, you’re, Rich Greenfield, Jonathan Miller, Nick Jr, Nick, Nick Music, Moffett, Dawn Chmielewski, Kenneth Li, Josie Kao Organizations: REUTERS, Liberty Broadband, Charter Communications, Reuters, Disney / Charter, Disney, Broadcasters, Cable, P Global Market Intelligence, Netflix, Leichtman Research, Paramount, ESPN, FX, Integrated Media Co, Warner Bros Discovery, American Heroes Channel, Paramount Global, Nickelodeon, Nick, Thomson Locations: U.S, Greenfield, Los Angeles, New York

☆ Elon Musk just escalated his war against the media
▼ + stars: | 2023-08-24 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Elon Musk is escalating his war on the media. Musk says it's for "esthetics" but his long history of blasting the news media suggests otherwise. AdvertisementAdvertisementElon Musk isn't shy about his disdain for the media, and his latest change to X makes that even more apparent. Musk has previously called The New York Times "propaganda" and "an unregistered lobbying firm for far left politicians." When NPR subsequently said it would quit Twitter, Musk threatened to give its handle away unless it started posting again.

Persons: Elon Musk, Elon, Fortune, Musk, X, Musk's Organizations: Reuters, The New York Times, Facebook, New York Times, Twitter, Times, NPR Locations: clickbait, Washington, The, Russia, China

☆ As Republicans debate, Biden campaign, Trump, RFK Jr to target voters off stage
▼ + stars: | 2023-08-23 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +3 min

And Robert F. Kennedy Jr, a long-shot Democratic rival to Biden, is talking with Virginia voters about inflation just as the debate begins. In Washington, a joint "war room" of the Biden campaign and the Democratic National Committee (DNC) will offer rapid response throughout the night. Biden campaign co-chair Cedric Richmond and DNC chair Jaime Harrison will hold a press conference before the debate. Republicans on Wednesday night's debate stage will likely direct most of their criticism at Biden instead of each other. The Biden campaign says they have yet to consider whether or not Biden would debate Trump, or what it means if Trump decides against debating in the general election.

Persons: Robert F, Kennedy Jr, Scott Morgan, Donald Trump, Tucker Carlson, Joe Biden's, Trump, Majorie Taylor Greene, Biden, Franklin Delanor Roosevelt, Greene, MAGA, Cedric Richmond, Jaime Harrison, They've, Richmond, Jarrett Renshaw, Heather Timmons, Nick Macfie Organizations: Democratic, Fair, REUTERS, Republican, Fox, Milwaukee, Biden, Virginia, Democratic National Committee, MAGA ”, GOP, Trump, Republicans, Thomson Locations: Iowa, Des Moines , Iowa, U.S, Milwaukee , Wisconsin, United States, Washington, Wisconsin

☆ How Bob Iger's big plan to shrink Disney could pay off and how it could backfire, according to industry insiders
▼ + stars: | 2023-08-22 | by ( Lucia Moses | ) www.businessinsider.com time to read: +11 min

After a run of acquisitions during his first tour as Disney CEO, Bob Iger is looking to shrink the company. "They are our film studios, our parks business, and streaming, all of which are inextricably linked to our brands and franchises." Verizon has reached out to Disney about partnering on a new ESPN streaming service, The Information reported. 2024 will bring some clarity to Disney's streaming business. "The streaming business with ESPN going direct to consumer can generate a lot of subscriptions and hopefully be a positive earnings contributor.

Persons: Bob Iger, He's, Iger, Wells, Steven Cahall, MoffettNathanson's Michael Nathanson, Iger's, hasn't, Macquarie, Tim Nollen, Doug Shapiro, Shapiro, Disney, It'll, there's, Tim Cook, Eddy, Drew Angerer, Disney's, Penn, Joel Simkins, Stratechery's Ben Thompson, Thompson, — Iger, mused, signups, he's, Kevin Lansberry, I'm, Nollen Organizations: Disney, ABC, FX, Geographic, ESPN, Google, Netflix, Warner Bros, Discovery, Warner Bros . Discovery, Comcast, Marvel, Pixar, Apple, Walt Disney, Turner Broadcasting System, Apple's, Hulu, ESPN Iger, Penn Entertainment, Houlihan, Global Technology Group, LightShed Partners, Verizon, Flagship Locations: Orlando , Florida, Sun

☆ Bob Iger is moving to shrink Disney — here's how industry insiders see his playbook and its potential pitfalls: 'Everything is not OK'
▼ + stars: | 2023-08-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +11 min

After a run of acquisitions during his first tour as Disney CEO, Bob Iger is looking to shrink the company. He's looking to Disney's IP-driven parks, streaming, and film studios to drive growth. "They are our film studios, our parks business, and streaming, all of which are inextricably linked to our brands and franchises." 2024 will bring some clarity to Disney's streaming business. "The streaming business with ESPN going direct to consumer can generate a lot of subscriptions and hopefully be a positive earnings contributor.

☆ The streaming wars are over, and it's time for media to figure out what's next
▼ + stars: | 2023-05-10 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

The race between the biggest media and entertainment companies to add streaming subscribers, knowing consumers will only pay for a limited number of them, is finished. Disney announced its flagship streaming service, Disney+, lost 4 million subscribers during the first three months of the year, dropping the company's total streaming subscribers to 157.8 million from 161.8 million. Disney on Wednesday announced streaming losses narrowed to $659 million from $887 million. NBCUniversal's Peacock gained 2 million subscribers last quarter, giving it 22 million subscribers. Paramount Global added 4.1 million subscribers in the quarter, putting it at 60 million subscribers.

☆ Why E. Jean Carroll Will Always Tell You She Is ‘Fine, Fabulous’
▼ + stars: | 2023-05-05 | by ( Ginia Bellafante | ) www.nytimes.com time to read: +2 min

Taking the witness stand, she recalled that Ms. Carroll had phoned her immediately after the alleged incident with Mr. Trump “breathless, hyperventilating, emotional,” but that the subject did not come up between them again for another quarter century. Carroll is a very up person; she is not a victim,” Ms. Birnbach said. In the mid-1990s, decades after the sexual revolution, nearing the declining days of the AIDS crisis and the heyday of elite media, New York seemed to belong to women like E. Jean Carroll. A pair of big media personalities — Ms. Carroll was a well-known advice columnist by then — meeting so unexpectedly to do something vaguely conspiratorial. At the outset, the story seemed so paradigmatically “New York,” Ms. Carroll explained in her testimony.

☆ In Blow to DeSantis, Florida Bills to Limit Press Protections Are Shelved
▼ + stars: | 2023-05-03 | by ( Ken Bensinger | ) www.nytimes.com time to read: +1 min

Legislation that would have sharply curbed press protections in Florida has stalled in the State Legislature and won’t face a vote this year — a rare example of forces on the right thwarting a piece of Gov. The bills, introduced in February, proposed sweeping changes to laws that shield media outlets from liability in defamation cases and sought to make it easier for private citizens to file libel suits. In addition to opposition from news outlets and free-speech groups, the legislation faced a wave of resistance from his allies, including right-wing media outlets, Christian organizations and business groups. They argued that the legislation would harm all news media, including conservative outlets, and lead to an increase in frivolous and costly lawsuits. The Florida bills were part of a broader effort to revisit the First Amendment protections for the media.

☆ Fox News hosts avoided saying Tucker Carlson's name after he was fired. 'We're not talking about him,' Sean Hannity said.
▼ + stars: | 2023-04-25 | by ( Associated Press | ) www.businessinsider.com time to read: +3 min

Tucker Carlson was hardly mentioned by his former fellow Fox News hosts after he was fired Monday. Sean Hannity only mentioned Carlson to say "We're not talking about him" and that he had no details. NEW YORK (AP) — The day he was fired, Tucker Carlson was nearly invisible on the Fox News prime-time lineup that he used to dominate. "We're not talking about Tucker," Hannity said, unprompted. Carlson, Hannity and Ingraham appeared close in November 2020.

☆ Big media is gearing up for battle with Google and Microsoft over AI chatbots using their articles for training: 'We are actively considering our options'
▼ + stars: | 2023-03-03 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

Publishers want Google and Microsoft to pay them for the use of media content to train their AI. Media companies are also studying how to change their business models to protect themselves from the bots' threat. Within media companies, the topic is being discussed at the highest levels, from the C-suite to the boardroom. Executives are also strategizing with peers and competitors about the possibility of forging a united position against the tech companies, according to multiple publishing sources. The same year, an Australia law forced tech companies to pay news outlets for linking to their articles.

☆ Under the radar, Germany trains Ukrainians on advanced air defence weapon
▼ + stars: | 2023-03-03 | by ( Sabine Siebold | ) www.reuters.com time to read: +4 min

It is a modern system, whereas they have known the potential of the Leopard tanks for a while," said a German air force officer by way of explanation. Asked about the main differences to older Soviet-built air defences such as the S-300 or Buk, the Ukrainians cited greater effectiveness but also greater complexity. A German trainer said IRIS-T, built by German arms maker Diehl, could not be operated by "turning a switch on and off. It takes only a third of the time to set up its radar compared with the decades-old Patriot system - a critical factor, as any air defence system gives away its position once the radar is turned on. In Ukraine, the air space is closed - if anything flies there, it can be dangerous," said Dmytro.

☆ Google Cloud CEO Thomas Kurian gave a fiery speech on AI during an internal town hall
▼ + stars: | 2023-03-03 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

I'm digging deep to feel the inner Elon that Salesforce CEO Marc Benioff apparently experiences. In an exclusive interview with my colleagues Ashley Stewart and Ellen Thomas, Benioff said executives are all currently asking themselves: "Do they need to unleash their own Elon within them?" Leaked audio reveals Google Cloud CEO giving a fiery speech on AI. During an internal town hall, Thomas Kurian slammed people for saying Google is late to the AI competition. Media companies are eyeing a big payout from Big Tech for using their content this way.

☆ Sony's movie chief talks China censorship, upcoming game adaptation 'Gran Turismo,' and how his studio is preparing for a potential Hollywood writers' strike
▼ + stars: | 2023-02-16 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +13 min

It was a long-term deal so I don't think we have to confront that yet, but it's gone terrifically for us, actually. If you don't want to compete, don't come in. Can you talk about the synergy with the Whitney Houston movie — she was a Sony Music artist — or "Gran Turismo," a Playstation game? Do you wish HBO Max's "The Last of Us," which is also based on a Sony Playstation game, had been a movie? A lot of big movies come out of it.

☆ Iger's on track to bring back the magic at Disney — allowing the stock to soar
▼ + stars: | 2023-02-09 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

But now comes the hard part: Executing on ambitious cost cuts and generating long-sought profits at Disney's beleaguered streaming unit. Disney stock, which is up more than 26% year-to-date, soared more than 5% on the news before giving up those gains Thursday afternoon amid a broader retreat in equities markets. But while Disney shares have made a strong comeback since Iger returned as CEO, the company must now deliver on its plan. Ultimately, we think Iger will bring back the magic at Disney — and we reiterate our 1 rating on the stock, meaning we would buy shares of Disney here. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ NBCUniversal's latest round of layoffs shows how streaming is killing the traditional TV ad sales role
▼ + stars: | 2023-01-09 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +4 min

A TV era is quietly coming to a close and high-profile ad sales executives are hitting the exits. The changes come as advertisers pause spend due to economic uncertainty, and linear TV ad buys decline as viewers shift to streaming TV. Paramount CFO Naveen Chopra noted at an investor event "significant restructuring in our ad sales organization." NBCUniversal has done small groups of layoffs across divisions and just cut ad sales staff. Horizon's Campanelli said that with clients knowing much more about their audiences' viewing preferences, traditional ad sales desks have a smaller role to play than before.

☆ Streaming is killing the traditional TV ad sales role
▼ + stars: | 2023-01-06 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +4 min

A shift to streaming is shrinking the need for big ad sales teams. A TV era is quietly coming to a close and high-profile ad sales executives are hitting the exits. The changes come as advertisers pause spend due to economic uncertainty, and linear TV ad buys decline as viewers shift to streaming TV. Horizon's Campanelli said that with clients knowing much more about their audiences' viewing preferences, traditional ad sales desks have a smaller role to play than before. And local stations are still hiring TV sales executives, said Robert Russo, CEO of RNR Media Consulting, a former VP of political sales at ION Media.

☆ The biggest media targets and buyers in 2023, as speculation swirls around Disney's next move under CEO Bob Iger and how Warner Bros. Discovery can shed debt
▼ + stars: | 2022-12-19 | by ( Lucia Moses | Claire Atkinson | Reed Alexander | ) www.businessinsider.com time to read: +12 min

Continued pressure to get bigger has big media companies in Hollywood looking to scale up. Media bankers and investors predicted to Insider that dealmaking will rebound in 2023 as companies big and small size up their options for possible tie-ups. Pressure on big media companies to get bigger hasn't gone away. Apple: Could eye a big content prizeTim Cook. Paramount's library could help a streaming company bulk up its content; Netflix for one has explored Paramount's studio business before.

☆ Bob Iger's return as Disney CEO opens new possibilities for Hulu deal with Comcast
▼ + stars: | 2022-12-09 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +5 min

Disney will write "a big check" for Comcast's 33% share of Hulu, said NBCUniversal CEO Jeff Shell. With Bob Iger returning as Disney's CEO, Comcast is hoping for a broader conversation to seal the deal. Comcast is eyeing assets such as ESPN, FX, and NatGeo in return for surrendering its stake in Hulu. Former Disney CEO Bob Chapek, who was unceremoniously fired on November 20, refused to hold any talks on the topic with Comcast CEO Brian Roberts, according to a Comcast insider and a high-level Hollywood executive familiar with thinking inside Disney. Representatives for Hulu, Disney, and Comcast had no comment.

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