DIRS.INFO The most relevant business & tech news

REUTERS/Alyssa PointerLOS ANGELES, May 1 (Reuters) - Negotiators for Hollywood writers and film and television studios engaged in 11th-hour contract talks on Monday to try and avert a strike that would disrupt TV production across an industry grappling with seismic changes. The Writers Guild of America could call a work stoppage as early as Tuesday if it cannot reach a deal with companies such as Walt Disney Co (DIS.N) and Netflix Inc (NFLX.O). Writers say they have suffered financially during the streaming TV boom, in part due to shorter seasons and smaller residual payments. Half of TV series writers now work at minimum salary levels, compared with one-third in the 2013-14 season, according to Guild statistics. The WGA wants safeguards to prevent studios from using AI to generate new scripts from writers' previous work.

☆ Measurement Messiness Complicates TV’s Annual Sales Season
▼ + stars: | 2023-05-01 | by ( Megan Graham | Patrick Coffee | ) www.wsj.com time to read: 1 min

ABC late-night host Jimmy Kimmel hosted Disney’s annual presentation to ad buyers last May. Photo: Disney General EntertainmentMedia companies are preparing to spotlight their buzziest television shows at the TV industry’s annual advance-sales presentations to advertisers, but marketers may be more preoccupied with measuring how many people watch and how to translate that into deals. Veteran players like Comcast Corp.’s NBCUniversal and newer platforms such as Netflix Inc. will try to win over ad buyers during star-studded “upfront” pitches in mid-May at New York City venues including Radio City Music Hall and the Paris Theater. Before that, tech players including Amazon.com Inc., Snap Inc. and Roku Inc. will kick off the selling season with their so-called NewFronts events this week.

LOS ANGELES, May 1 (Reuters) - Negotiators for Hollywood writers and film and television studios engaged in 11th-hour contract talks on Monday to try and avert a strike that would disrupt TV production across an industry grappling with seismic changes. Writers say they have suffered financially during the streaming TV boom, in part due to shorter seasons and smaller residual payments. Half of TV series writers now work at minimum salary levels, compared with one-third in the 2013-14 season, according to Guild statistics. The WGA wants safeguards to prevent studios from using AI to generate new scripts from writers' previous work. The last WGA strike in 2007 and 2008 lasted 100 days.

☆ Ousted NBC Executive Jeff Shell Loses $43.3 Million After For-Cause Firing
▼ + stars: | 2023-04-28 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Jeff Shell acknowledged that he had an inappropriate relationship with a company employee. Photo: Javier Rojas/Zuma PressFormer NBCUniversal Chief Executive Jeff Shell will lose out on more than $40 million in compensation after being terminated for cause earlier this week because of inappropriate conduct. NBCUniversal parent Comcast Corp. disclosed Friday that Mr. Shell’s stock options and grants, which were valued at $43.3 million when he was fired on Sunday, have been forfeited and canceled.

☆ Comcast Revenue Slips Amid Advertising Slowdown
▼ + stars: | 2023-04-27 | by ( Patience Haggin | ) www.wsj.com time to read: 1 min

Comcast’s movie studio and Universal Studios theme-park units posted revenue growth in the first quarter. Photo: Rodin Eckenroth/Getty ImagesComcast Corp. said revenue fell by 4.3% in the first quarter, partly due to a sharp decline in advertising, while its Peacock streaming service continued to gain new subscribers at a healthy clip. The Philadelphia-based company, owner of Xfinity-branded broadband and cable services, the NBCUniversal media empire and the Sky TV business, posted revenue of $29.69 billion, while net profit rose by 8% to $3.83 billion.

☆ Futures rise on Meta forecast ahead of key earnings, economic data
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.26%, S&P 0.42%, Nasdaq 0.70%April 27 (Reuters) - U.S. stock index futures rose on Thursday as an upbeat forecast from Meta Platforms lifted social media stocks, with investors looking forward to big-ticket earnings and key economic data. Shares of social media platforms Snap Inc (SNAP.N) and Pinterest Inc (PINS.N) rose 3.4% and 2.8%, respectively. Meta is the second best performer among the S&P 500 stocks with a 74% gain so far this year, next only to Nvidia Corp (NVDA.O). Analysts expect first-quarter earnings to have fallen 3.2% year-over-year for S&P 500 (.SPX) companies versus a 5.1% decline forecast earlier, according to Refinitiv data on Wednesday. ET, Dow e-minis were up 88 points, or 0.26%, S&P 500 e-minis were up 17.25 points, or 0.42%, and Nasdaq 100 e-minis were up 90.25 points, or 0.7%.

The company's total revenue fell 4.3% to $29.69 billion in the quarter, but beat analysts' average estimate of $29.30 billion, according to Refinitiv data. However, adjusted losses from the ad-reliant platform widened to $704 million from $456 million a year-ago as Comcast continues to invest heavily in content. Theme parks revenue climbed nearly 25%, thanks to a rebound in attendance at its parks overseas and the lifting of COVID curbs in China. Comcast gained 5,000 broadband customers in the March quarter, while Factset had estimated a loss of 20,000 users. Overall, net income attributable to Comcast rose 8% to $3.83 billion in the quarter.

Giant screen options include pioneer IMAX and various premium large formats (PLF) created by theater chains. For Missouri-based B&B Theatres, about half of a multiplex's grosses now come from premium formats, compared with 30% before the pandemic, said Chief Content, Programming and Development Officer Brock Bagby. B&B operates 531 screens in 14 states and offers large format screens with heated recliners, 270-degree Screen X screens, immersive audio and MX4D seats timed to rumble with the action. "Post-COVID, our premium screens are selling better than ever," Bagby said. As a sign of its importance, Universal's Orr and other studio distribution executives said they consult Gelfond about IMAX screen availability before setting movie release dates.

New York CNN —Comcast said Monday it fired NBCUniversal CEO Jeff Shell after corroborating a female employee’s allegations of sexual harassment. An attorney representing CNBC anchor and senior international correspondent Hadley Gamble acknowledged Comcast investigated Shell because of her client’s complaint. After looking into the allegations, Comcast moved quickly to remove Shell, they said. But in a filing with the Securities and Exchange Commission, Comcast said it fired Shell due to allegations of sexual harassment. “Following a complaint that Jeffrey Shell, CEO of NBCUniversal, engaged in inappropriate conduct with a female employee, including allegations of sexual harassment, Comcast Corporation retained outside counsel to investigate the allegations,” the filing said.

☆ Jeff Shell out as NBCUniversal CEO after probe into inappropriate relationship
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +2 min

[1/2] CEO of NBCUniversal Jeff Shell attends the annual Allen and Co. Sun Valley Media Conference in Sun Valley, Idaho, U.S., July 6, 2022. REUTERS/Brendan McDermidApril 23 (Reuters) - NBCUniversal Chief Executive Jeff Shell is leaving after acknowledging an inappropriate relationship with a woman in the company, following a complaint that prompted an investigation, parent company Comcast Corp (CMCSA.O) said on Sunday. "I had an inappropriate relationship with a woman in the company, which I deeply regret," Shell said in a statement. Shell, previously chairman of NBCUniversal Film and Entertainment, took over as CEO in 2020, replacing Steve Burke. NBCUniversal is one of the world's largest media companies, encompassing movie and TV studios, theme parks, NBC News and cable TV networks.

☆ NBCUniversal CEO Jeff Shell to Depart After Probe Into Improper Conduct
▼ + stars: | 2023-04-23 | by ( Joe Flint | ) www.wsj.com time to read: 1 min

Photo: Patrick T. Fallon/Bloomberg NewsNBCUniversal Chief Executive Jeff Shell is departing after an investigation into a complaint of inappropriate conduct, a stunning fall for an executive who pushed for sweeping changes at the media giant as it entered the streaming era. Mr. Shell’s exit, effective immediately, was announced Sunday by parent company Comcast Corp., where he has worked for roughly two decades.

☆ NBCUniversal CEO Jeff Shell to Depart After Company Probe Into Inappropriate Conduct
▼ + stars: | 2023-04-23 | by ( Joe Flint | ) www.wsj.com time to read: 1 min

Photo: Patrick T. Fallon/Bloomberg NewsNBCUniversal Chief Executive Jeff Shell is leaving his post effective immediately after an investigation into a complaint of inappropriate conduct, parent company Comcast Corp. said Sunday. Shell oversaw NBCUniversal’s operations and had been with Comcast for roughly two decades. “I had an inappropriate relationship with a woman in the company, which I deeply regret,” Mr. Shell said in a statement. “I’m truly sorry I let my Comcast and NBCUniversal colleagues down.”

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.

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.

[1/3] Theranos founder Elizabeth Holmes arrives to attend her fraud trial at federal court in San Jose, California, U.S., December 16, 2021. REUTERS/Peter DaSilva/File PhotoNEW YORK, March 23 (Reuters) - A key prosecution witness whose testimony helped convict Theranos founder Elizabeth Holmes of fraud sued Walt Disney Co (DIS.N) on Thursday over a recent Hulu miniseries that he says defamed him by portraying him as corrupt. Rosendorff said the character, Mark Roessler, covered up Theranos' fraud by ordering the destruction of damaging lab results, falsifying records and engaging in other dishonest and unethical conduct. "At the time of the trial, (Rosendorff) was considered a heroic whistle-blower, a witness who was instrumental in the jury’s verdict convicting Holmes," the filing said. The case is Rosendorff v Hulu LLC et al, New York State Supreme Court, New York County, No.

☆ Comcast takes advantage of AI rally to sell more BuzzFeed shares
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

It has so far sold more than 11 million BuzzFeed shares (BZFD.O) since Jan. 30, reducing its stake to 15.% from 24%. The sale fetched Comcast about $28 million, according to a Reuters calculation. It sold roughly four million shares for an average price of around $2.90 apiece at the end of January, and most recently dumped another 500,000 shares for an average of $2.05 a share, filings by Comcast (CMCSA.O) showed. NBCUniversal, Comcast's entertainment unit, had invested $200 million in BuzzFeed in 2015 and injected another $200 million in 2016, valuing the company at around $1.7 billion. Retail investor interest in AI-related shares have been rising since last month after OpenAI drew a multi-billion dollar investment from Microsoft Corp (MSFT.O).

[1/5] A general view of the grand opening of Super Nintendo World at Universal Studios Hollywood in Universal City, Los Angeles, California, U.S., February 15, 2023. The theme park world is meant to ignite interest from both new and seasoned fans of the Mario games through an immersive experience. It follows in the footsteps of its predecessor in Universal Studios Japan, also owned by the Comcast Corp (CMCSA.O) unit. Super Nintendo World will also be added to Universal Studios Florida in 2025. The opening of the park will be followed by the “Super Mario Bros” movie, which arrives in theaters on April 7 and stars “Guardians of the Galaxy” actor Chris Pratt, who voices Mario.

☆ Exclusive: Warner Bros Discovery licenses movies and TV shows to Roku, Tubi
▼ + stars: | 2023-01-31 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +3 min

Jan 31 (Reuters) - Warner Bros Discovery Inc (WBD.O) has reached deals with streaming services Roku Inc (ROKU.O) and Fox Corp's (FOXA.O) Tubi to license 2,000 hours of movies and TV series, as it becomes the latest media company to embrace free, ad-supported streaming TV. The streamers announced Tuesday they plan to use the content to launch Warner Bros-branded free, ad-supported TV (or FAST) channels. For the first nine months of 2022, Warner Bros Discovery's streaming business, which includes HBO Max, lost $1.38 billion. The studio is seeking to capitalize on a growing segment of the streaming universe, which industry executives see as complementing subscription streaming services. AMC Networks Inc (AMCX.O), Comcast Corp's (CMCSA.O) NBCUniversal and the National Hockey League have launched FAST channels over the last year.

☆ CNBC Names Successor to Shepard Smith’s Show, Shakes Up Lineup
▼ + stars: | 2023-01-27 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

KC Sullivan took over as president of CNBC in September. CNBC named a new show to succeed “The News With Shepard Smith” in a broad programming shake-up as president KC Sullivan puts his stamp on the network. CNBC, a unit of Comcast Corp.’s NBCUniversal, will replace the 7 p.m. show with “Last Call,” anchored by Brian Sullivan, according to a memo to staff on Thursday. The show, which will explore “the intersection of money, culture and policy” comes after CNBC canceled Mr. Smith’s 7 p.m. general-interest show in a bid to focus more on business-news coverage. Mr. Sullivan previously anchored “Worldwide Exchange” at 5 a.m.

☆ Comcast Loses Broadband Users, Gains Five Million Peacock Subscribers
▼ + stars: | 2023-01-26 | by ( Patience Haggin | ) www.wsj.com time to read: 1 min

Comcast has spent heavily in an effort to grow its streaming service. Comcast Corp. said its Peacock streaming service grew its paying-customer base by a third in a single quarter but lost nearly $1 billion over the period, contributing to a decline in profitability at its media unit. The cable and entertainment giant also lost broadband subscribers last quarter, due in part to continued disruptions caused by Hurricane Ian, which destroyed swaths of Florida last fall.

Total revenue rose 0.7% to $30.55 billion in the quarter. Cable revenue grew 1.4% to $16.64 billion, narrowly missing analysts' estimates of $16.67 billion. Comcast lost 440,000 video subscribers in the quarter, fewer than Factset's estimated loss of 548,000, as the trend of cable TV cord-cutting continued. The company also lost 26,000 broadband customers in the quarter, compared with Factset's estimated loss of 40,000 customers. NBCU advertising sales grew 4% to $2.86 billion, and theme parks revenue grew 12% to $2.11 billion.

Box office receipts can rise as much as 75% in the weeks following a best picture nomination, according to Comscore data. The distributor, United Artists Releasing, planned the release strategy to coincide with this week's Oscar nominations, with the hope the movie would benefit from a box-office bounce. "Tar," a best picture contender starring Cate Blanchett as a manipulative orchestra conductor, will expand to 535 theaters from 100. 'NOT LOOKING GREAT'Even legendary director Steven Spielberg has had trouble drawing crowds to best picture nominee "The Fabelmans," his autobiographical story about family strife and anti-Semitism he faced as a teenager. Warner Bros is re-releasing the film in movie houses this weekend after it landed eight Oscar nominations including best picture and best actor.

☆ Disney says Peltz 'lacks skills' to help business as proxy battle heats up
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

"Peltz does not understand Disney's businesses and lacks the skills and experience to assist the board in delivering shareholder value in a rapidly shifting media ecosystem," Disney said. Peltz told CNBC on Thursday that Disney should either jettison the streaming business or buy the rest of rival streaming service Hulu. Disney also needs to boost capital expenditure at its parks business, where it probably raised ticket prices "too hard," he said then. In its statement on Tuesday, Disney said it was already working to improve profitability at the Disney+ streaming business that Iger helped launch in 2019 and was rolling out broader cost-cutting measures. Unless Peltz settles with Disney, investors will vote this year on whether he should sit on the company's board.

The tussle with Disney could be Peltz's biggest proxy battle since an acrimonious fight to bag a seat on the board of Tide detergent-maker P&G (PG.N). During his more than three-year tenure on P&G's board, the firm's stock price rose nearly 80%. Peltz's Trian Fund Management on Thursday filed documents with the U.S. securities regulator for his election as a director after Disney denied him a board seat. "Iger is a well-liked CEO, not only within Disney and its employees but also in Hollywood and the stock market. Investors will vote later this year on whether Peltz should sit on the company's board, unless it's settled before.

[1/3] The logo of the Times Square Disney store is seen in Times Square, New York City, U.S. December 5, 2019. Peltz, a billionaire activist who operates via his Trian Partners hedge fund, called for Disney to cut costs and turn a profit at its Disney+ streaming business, which has been losing money despite expanding at a fast clip. Its shares sank last year as losses deepened in its streaming business, and the price is now less than half the stock's 2021 high. Disney, Trian said, had overpaid for the assets of 21st Century Fox and bid aggressively for pay-TV giant Sky PLC. Disney said Trian would file with the Securities and Exchange Commission on Thursday to elect Peltz for a board seat in opposition to the company's nominees.

Search resuls for: "Comcast Corp"

25 mentions found