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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. Writers and actors share common concerns, including the desire for higher pay and for curbs on the use of artificial intelligence (AI) in entertainment. The Writers Guild of America (WGA), which went on strike May 2, reached a tentative deal with studios Sunday. Negotiators for the SAG-AFTRA actors' union have not held talks with the Alliance of Motion Picture and Television Producers (AMPTP), which represents Walt Disney (DIS.N), Netflix (NFLX.O) and other studios, since this summer. As with writers, actors are looking for compensation that reflects the value they bring to streaming, specifically, in the form of revenue sharing.

Persons: Mike Blake, Mel Shimkovitz, Walt Disney, AFTRA, Pedro Pascal, Bob Odenkirk, We're, Lisa Richwine, Dawn Chmielewski, Rollo Ross, Miral Organizations: Writers Guild of America, Disney Studios, REUTERS, Guild of America, Netflix, WGA, SAG, Alliance, Television Producers, Walt, Entertainment, Thomson Locations: Burbank , California, U.S, Los Angeles

☆ Documentary takes Argentine cartoon strip icon Mafalda to television
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

Joaquin Salvador Lavado, known as "Quino", launched the comic six decades ago, initially as a failed covert advertising campaign for electrical appliances. Mafalda, however, evolved into something else, questioning everything from nuclear power to overpopulation and capitalism to dictatorship, with kindness and a razor wit disguised as childish ingenuity. "Quino built the story with very human characters through the eyes of children, who say terrible barbarities with no filter," series director Lorena Munoz told Reuters. The two-hour docuseries, "Rereading: Mafalda", will reexamine the series through a feminist lens and its historical context, especially its criticism of the 1960s military dictatorship of Juan Carlos Ongania. Work on the series was paused during the pandemic but was nominated ahead of its commercial release for best documentary at this year's Canneseries Festival.

Persons: Joaquin Salvador Lavado, Quino, Lorena Munoz, Juan Carlos Ongania, Susanita, Munoz, Candelaria Grimberg, Sarah Morland, Bill Berkrot Organizations: Reuters, Libertad, Thomson Locations: BUENOS AIRES, Argentine, Felipe, Manolito, Buenos Aires, Japan

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

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. Uncertainty around the trajectory for interest rates, including a potential hike by year-end and expectations for fewer cuts next year, have pushed the 10-year Treasury yield to a 16-year high, hurting growth stocks. ET, Dow e-minis were down 13 points, or 0.04%, S&P 500 e-minis were down 1.75 points, or 0.04%, and Nasdaq 100 e-minis were down 11 points, or 0.07%. HP Inc (HPQ.N) dipped 2.7% after Warren Buffett's Berkshire Hathaway (BRKa.N) sold nearly 4.8 million shares of the PC maker. Reporting by Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Arun Koyyur and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Berkshire Hathaway, Jerome Powell, dampening, Raffi Boyadjian, Walt Disney, Warren Buffett's Berkshire Hathaway, Jefferies, JD.com, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Companies Media, Nike, Dow, Nasdaq, Federal Reserve, Nvidia, Investors, Traders, XM, Dow e, Media, Warner Bros Discovery, Paramount Global, Netflix, HP Inc, PDD Holdings, Baidu, Thomson Locations: New York City, U.S, Berkshire, 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

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. The indexes also eyed their first quarterly declines so far this year heading into the last days of September. Consumer staples (.SPLRCS) and utilities (.SPLRCU) were the worst hit among the major S&P 500 sector indexes, while energy (.SPNY) was the top gainer. Meanwhile, Chicago Fed president Austan Goolsbee in an interview on CNBC stressed on the need to brining inflation back to the 2% target, after some Fed policymakers last week warned of further hikes. The S&P index recorded no new 52-week highs and 37 new lows, while the Nasdaq recorded 16 new highs and 225 new lows.

Persons: Brendan McDermid, Jerome Powell, Thomas Martin, Austan Goolsbee, Walt Disney, Jefferies, JD.com, advancers, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Companies Media, Nike, Dow, Nasdaq, Major U.S, Federal Reserve, Microsoft, GLOBALT Investments, Traders, Dow Jones, Chicago Fed, CNBC, Media, Netflix, PDD Holdings, Baidu, NYSE, Thomson Locations: New York City, U.S, Major, Bengaluru

Strike signs await striking SAG-AFTRA actors and Writers Guild of America (WGA) outside Disney Studios in Burbank, California, U.S., July 25, 2023. The WGA, which represents 11,500 film and television writers, described the deal as "exceptional" with "meaningful gains and protections for writers." While writing may resume, the SAG-AFTRA actors' union remains on strike. Efforts to restart daytime talk shows without writers, such as "The Drew Barrymore Show," collapsed this month, in the face of criticism from striking writers and actors. Even as studio executives celebrated the end of the longest-running writers' strike since 1988, it is only half the labor battle.

Persons: Mike Blake, Caroline Renard, Hollywood's, Drew Barrymore, Bob Iger, Iger, It's, Brandon K, Hines, Kevin Klowden, David Zaslav, Ted Sarandos, Donna Langley, AFTRA, Dawn Chmielewski, Lisa Richwine, Danielle Broadway, Christopher Cushing Organizations: Writers Guild of America, Disney Studios, REUTERS, WGA, Hollywood, SAG, Alliance, Television Producers, Walt Disney, Netflix, Warner Bros Discovery, Disney, Milken Institute, Reuters, Thomson Locations: Burbank , California, U.S, California, New Mexico, Georgia, New York, Los Angeles

☆ Hollywood’s brief thaw belies a long winter
▼ + stars: | 2023-09-25 | by ( Jennifer Saba | ) www.reuters.com time to read: +4 min

The union representing movie and TV writers tentatively agreed to a new contract on Sunday, setting the stage to end a five-month impasse. Content production is back on the budget line for streaming services. They too want to share in the spoils of a successful movie or TV series on streaming services. Charter now doesn’t have to carry eight Disney networks including FXX and Disney Junior, while Disney also is giving Charter’s customers access to its ad-supported streaming services for no additional charge. The brief thaw belies a long winter.

Persons: Fran Drescher, Duncan Crabtree, Walt Disney, Bob Iger, Ted Sarandos, David Zaslav, Donna Langley, ”, Lauren Silva Laughlin, Aditya Sriwatsav Organizations: SAG, Writers Guild of America, Hollywood, Netflix, Reuters, Guild of America, Walt, Warner Bros Discovery, NBC Universal, Charter Communications, Disney, Disney Junior, WWE, Paramount Global, Paramount, Alliance, Producers, WGA, Thomson Locations: Los Angeles , California, U.S

☆ Striking writers, Hollywood studios to meet on Sunday as talks stretch on
▼ + stars: | 2023-09-24 | by ( ) www.reuters.com time to read: +1 min

The iconic Hollywood sign is shown in early morning light in Los Angeles, California, U.S., July 13, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsSept 23 (Reuters) - Negotiators for the striking Writers Guild of America (WGA) and Hollywood studios will meet again on Sunday after a fourth day of talks failed to reach a deal. Writers walked off the job in early May after negotiations failed to agree on compensation, minimum staffing of writers' rooms, the use of artificial intelligence and residuals that reward writers for popular streaming shows. The SAG-AFTRA union, comprising 160,000 members from actors to stunt performers, joined the writers in July, calling for a work stoppage and putting Hollywood into two simultaneous strikes for the first time in 63 years. Reporting by Urvi Dugar in Bengaluru; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Blake, Walt Disney, Urvi, William Mallard Organizations: REUTERS, Guild of America, Hollywood, WGA, Alliance, Television Producers, Netflix, SAG, Thomson Locations: Los Angeles , California, U.S, 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. While workers across the entertainment industry waited for word of the outcome, no agreement had been announced as of late Friday, the 144th day of the strike. Representatives for the WGA and the Alliance of Motion Picture and Television Producers (AMPTP), which represents the studios, had no comment. Producer and WGA member Al Septien, also picketing outside Netflix on Friday, said he wanted to get back to work, but only under the right terms. We don't want to fold for a less-than-fair and good contract for the writers,” he said.

Persons: Mike Blake, Walt Disney, Bob Iger, Ted Sarandos, David Zaslav, Donna Langley, Matthew Weiner, Weiner, Al Septien, We've, ”, Lisa Richwine, Dawn Chemielewski, Sandra Stojanovic, Shri Navaratnam Organizations: Writers Guild of America, Disney Studios, REUTERS, Netflix, Warner Bros Discovery, Comcast's, WGA, Alliance, Television Producers, SAG, Thomson Locations: Burbank , California, U.S, Angeles

☆ Amazon to roll out ads on Prime Video in 2024
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of streaming service Amazon Prime Video is seen in this illustration picture taken March 5, 2021. REUTERS/Danish Siddiqui/Illustration/File Photo Acquire Licensing RightsSept 22 (Reuters) - Amazon (AMZN.O) Prime Video will next year join streaming rivals in rolling out ads and introducing a higher-priced ad-free tier, as the industry grapples with a slowdown in subscriber growth since the pandemic. Amazon's ad-free tier will cost another $2.99 per month in the U.S., where a Prime subscription currently costs $14.99 per month, or $139 per year. Amazon already shows ads on live event content such as NFL's Thursday Night Football, a practice that will continue even if the subscriber has paid for the ad-free plan, the company said. Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Savio D'Souza and Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Danish Siddiqui, Amazon's, Walt Disney, Samrhitha, Savio D'Souza, Krishna Chandra Organizations: Amazon, REUTERS, Danish, Netflix, Disney, Thomson Locations: U.S, Germany, Canada, France, Italy, Spain, Mexico, Australia, Bengaluru

Lachlan Murdoch and his siblings attended Dalton, a private school on Manhattan’s Upper East Side, and other elite schools, including Trinity School. In 1999, Lachlan Murdoch assumed responsibility for print operations in the U.S. [1/3]Then Newscorp chairman Rupert Murdoch and son Lachlan Murdoch in the crowd before Super Bowl LI at NRG Stadium in Houston, Texas, U.S., February 5, 2017. The newly constituted Fox was reduced to a handful of assets, including the Fox broadcast network, Fox News, Fox Sports and Fox Business, with Lachlan Murdoch serving as its executive chair and chief executive officer. As chief executive of Fox Corp since 2019, Lachlan Murdoch has presided over the media properties during seismic change in the industry, as viewers cut cable subscriptions in favor of streaming services.

Persons: Lachlan Murdoch, Rupert Murdoch, Murdoch, Rupert Murdoch’s, Anna, Australian Broadcasting Corp’s, Paddy Manning’s, “, Lachlan, James, Dalton, Manning, Robert Deutsch, Walt Disney, Brother James Murdoch, Chris Mitchell, ”, James Murdoch, Kathryn, Fox, Donald Trump, Dawn Chmielewski, Helen Coster, Kenneth Li, Nick Zieminski Organizations: News Corp, Fox Corp, Wall Street Journal, Fox News, Sun, Fox Sports, Fox Entertainment, Australian Broadcasting, New, New York Post, The New York Times, Daily News, Wall Street, San Antonio Express, Monopoly, Trinity School, Trinity Conservative Society, Princeton, News Ltd, U.S ., New York, Century Fox, Walt, Fox, Fox Business, Disney, New York Times, Daily, Dominion Voting Systems, Thomson Locations: Australia, United States, London, New York, U.S, Illyria, NRG, Houston , Texas, Los Angeles

☆ Striking Hollywood writers, studios to meet again Friday
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

Strike signs await striking SAG-AFTRA actors and Writers Guild of America (WGA) outside Disney Studios in Burbank, California, U.S., July 25, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsLOS ANGELES, Sept 21 (Reuters) - Negotiators for Hollywood's major studios and striking film and television writers plan to meet again on Friday, the Writers Guild of America (WGA) said in a statement. Roughly 11,500 WGA members walked off the job in May, angered by how working conditions have changed in the streaming TV era. The SAG-AFTRA actors union went on strike in July, putting Hollywood in the midst of two simultaneous work stoppages for the first time in 63 years. Reporting by Lisa Richwine and Kanjyik Ghosh; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Blake, Walt Disney, Bob Iger, Ted Sarandos, Donna Langley, David Zaslav, Lisa Richwine, Kanjyik Ghosh, Edwina Gibbs Organizations: Writers Guild of America, Disney Studios, REUTERS, CNN, Alliance, Television Producers, WGA, Netflix, Warner Bros Discovery, SAG, Hollywood, Thomson Locations: Burbank , California, U.S

[1/3] Then Newscorp chairman Rupert Murdoch and son Lachlan Murdoch in the crowd before Super Bowl LI at NRG Stadium in Houston, Texas, U.S., February 5, 2017. In 1999, Lachlan Murdoch assumed responsibility for print operations in the U.S. Lachlan Murdoch founded Illyria Pty, a private investment company, whose acquisitions included a network of Australian radio stations. The newly constituted Fox was reduced to a handful of assets, including the Fox broadcast network, Fox News, Fox Sports and Fox Business, with Lachlan Murdoch serving as its executive chair and chief executive officer. While Rupert Murdoch built his legacy pursuing the television, movie and newspaper businesses with equal abandon, Lachlan’s legacy is still taking shape.

Persons: Rupert Murdoch, Lachlan Murdoch, Robert Deutsch, Murdoch, Rupert Murdoch’s, Anna, Australian Broadcasting Corporation’s, Paddy Manning’s, “, Lachlan, James, Dalton, Manning, Walt Disney, Brother James Murdoch, Lachlan Murdoch doesn’t, Chris Mitchell, ”, Fox, Donald Trump, Dawn Chmielewski, Helen Coster, Kenneth Li, Nick Zieminski Organizations: News Corp, Fox Corp, Wall Street Journal, Fox News, Sun, Fox Sports, Fox Entertainment, Australian Broadcasting, New, New York Post, The New York Times, Daily News, Wall Street, San Antonio Express, Monopoly, Trinity School, Trinity Conservative Society, News, New York, Century Fox, Walt, Fox, Fox Business, Disney, New York Times, Dominion Voting Systems, Thomson Locations: NRG, Houston , Texas, U.S, Australia, United States, London, New York, Princeton, Illyria, Los Angeles

His son, Lachlan Murdoch, will become the sole chairman of News Corp and continue as the chair and CEO of Fox, the companies said on Thursday. The transition solidifies Lachlan's role as the leader of the media empire, putting to rest questions of succession within the Murdoch family. Lachlan was appointed CEO of the new Fox Corp. Murdoch controls News Corp and Fox Corp through a Reno, Nevada-based family trust that holds a roughly a 40% stake in voting shares of each company. The shares in Fox and News Corp owned by Murdoch’s children through the trust are a combination of both classes of shares.

Persons: Rupert Murdoch, Rafael Nadal, Kevin Anderson of, Mike Segar, Lachlan Murdoch, Murdoch, Lachlan, Fox, Brian Wieser, James, Chloe, Grace, Wendi Deng, Jonathan Miller, Sumner Redstone, Ted Turner, John Malone, Miller, Helen Coster, Aditya Soni, Dawn Chmielewski, Krishna Chandra Eluri, Saumyadeb Chakrabarty, Nick Zieminski Organizations: Fox News, Fox Corp, News Corp, Fox, Dominion, Systems, Wall, Walt Disney Co, Lupa Systems, Corp, Thomson Locations: York, U.S, Kevin Anderson of South Africa, Australia, United States, American, Reno , Nevada, London, New York, Bengaluru, Dawn, Los Angeles

[1/2] Phoebe Price holds a sign, while pushing a dog in a stroller, as SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line during their ongoing strike outside Sunset Bronson studios, near Netflix offices in Los Angeles, California, U.S., August 11, 2023. REUTERS/Mario Acquire Licensing Rights Read moreLOS ANGELES, Sept 20 (Reuters) - Negotiators for the striking Writers Guild of America (WGA) and Hollywood studios will meet again on Thursday to try to resolve a nearly five-month standoff that has disrupted film and television production. CNBC, citing people close to the negotiations, said writers and producers were near an agreement and hoped to reach a deal on Thursday. But if a deal is not reached the strike could last through the end of the year, CNBC reported. No talks are currently scheduled between the actors and the studios.

Persons: Phoebe Price, Walt Disney, AMPTP, Bob Iger, Ted Sarandos, Donna Langley, David Zaslav, Lisa Richwine, Dawn Chmielewski, Sandra Maler, Kim Coghill Organizations: SAG, Writers Guild of America, Netflix, REUTERS, Mario, Guild of America, Hollywood, WGA, Alliance, Television Producers, Walt, Disney, Warner Bros Discovery, People, CNBC, Thomson Locations: Sunset Bronson, Los Angeles , California, U.S, ANGELES

☆ Breakingviews: Rupert Murdoch will redefine chair emeritus
▼ + stars: | 2023-09-21 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

NEW YORK, Sept 21 (Reuters Breakingviews) - Rupert Murdoch is tiptoeing slowly out the door. The decision at least solidifies succession plans, but there can be little doubt that his chairman emeritus title will be more than just a retirement honorific. He has been sharing the chairman’s job with his son, Lachlan, who will take the seat himself and keep his chief executive position at Fox. Follow @jennifersaba on XCONTEXT NEWSRupert Murdoch is stepping down as co-chair of media companies Fox and News Corp and his son, Lachlan, will become sole chair, the companies said on Sept. 21. Rupert will be chair emeritus of both Fox and News Corp.

Persons: Rupert Murdoch, tiptoeing, Murdoch, Lachlan, James, Walt Disney, Robert Thomson, ”, Rupert, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: Reuters, Fox, News Corp, Fox News, Wall Street, Walt, Disney, Communications, . News Corp, Thomson

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. REUTERS/Octavio Jones Acquire Licensing RightsSept 20 (Reuters) - Walt Disney's (DIS.N) $60 billion spending plan on parks and cruises to stay ahead of growing competition has worried some Wall Street analysts with its long road to payoff. "Expanding parks and cruises tends to be a multi year undertaking as a result of which, revenue and margin acceleration lags the investment cycle," Barclays analysts said. The bump in parks spending also follows a quiet period for the business during the pandemic in 2020 and 2021, when the spread of COVID-19 forced park closures and hit attendance. That led Needham analysts to warn Disney could be basing its decision on "unsustainable and elevated profit margins."

Persons: Octavio Jones, Walt Disney's, Needham, Samrhitha Arunasalam, Aditya Soni, Anil D'Silva Organizations: Walt Disney, REUTERS, Wall Street, Walt Disney World, Netflix, Barclays, Analysts, ABC, Comcast, Disney, Nintendo, Thomson Locations: Orlando , Florida, U.S, Hulu, COVID, California, Florida, Bengaluru

☆ Disney CEO says company will 'quiet the noise' in culture wars -analyst
▼ + stars: | 2023-09-20 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +3 min

[1/2] Items with a rainbow-coloured design are seen in a Pride section of a gift shop at the Walt Disney World Magic Kingdom theme park in Orlando, Florida, U.S. July 30, 2022. REUTERS/Octavio Jones/File Photo Acquire Licensing RightsSept 20 (Reuters) - Walt Disney (DIS.N) CEO Bob Iger told investors the company will "quiet the noise" in a culture war that has pitted social conservatives against the global media and entertainment conglomerate, according to an analyst note on Wednesday. Iger previously said the company planned to spend $17 billion in investment at Walt Disney World over the next 10 years. At the time, Iger was responding to an investor who said the company was becoming too concerned with social issues. “Our primary mission needs to be to entertain ... and to have a positive impact on the world,” Iger said at the time.

Persons: Octavio Jones, Walt Disney, Bob Iger, Laura Martin, Disney, Wall, Ron DeSantis, “, Iger, Halle, Ariel, ” Iger, Dawn Chmielewski, Marguerita Choy Organizations: Walt Disney, REUTERS, Needham, Walt Disney World, Disney, ESPN, Central, Universal Orlando, Parks, Pixar Animation, Thomson Locations: Orlando , Florida, U.S, Florida, Central Florida, Halle Bailey, Los Angeles

☆ Disney’s theme parks reveal shrunken treasure
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

Acquire Licensing RightsNEW YORK, Sept 20 (Reuters Breakingviews) - Bob Iger can’t get off the roller coaster. Walt Disney’s (DIS.N) chief executive plans to double the Magic Kingdom’s investment in theme parks and other experiences to $60 billion over the course of about 10 years. On the other, Disney’s dwindling cash and the increasing demands for it is cause for concern. One issue is that Disney’s free cash flow has plummeted. No wonder adding theme parks to the list is making shareholders skittish.

Persons: Bob Iger can’t, Walt Disney’s, Iger, Jennifer Saba, Bernie Sanders’s, Jeffrey Goldfarb, Sharon Lam Organizations: Writers Guild of America, Walt Disney Studios, Reuters, Disney, Comcast, Pearson’s, Thomson Locations: Burbank , California, U.S, Hulu

Omar Abbosh, chief strategy officer at Accenture, speaks during the annual Cyberweek conference at Tel Aviv University, Israel June 20, 2016. Abbosh, 57, will take over the reins early in 2024 from Bird, 59, whose strategy of selling directly to consumers helped Pearson out of a tumultuous few years during the pandemic. Shares in Pearson were down 5.2% at 838 pence in morning trading in London. Bird sought to sharpen Pearson's focus to selling directly to consumers and away from traditional educational outlets as the pandemic boosted demand for online learning. Pearson would compensate Abbosh for leaving Microsoft, including cash and an award of restricted shares equivalent to a maximum of 50,813 Microsoft shares or about 13 million pounds ($16.06 million) at the current price and foreign exchange rates, it said.

Persons: Omar Abbosh, Amir Cohen, Bird, Pearson, Andy Bird, Abbosh, it’s, Hargreaves, Sophie Lund, Yates, Yadarisa Shabong, Eva Mathews, Janane Venkatraman, Jason Neely, Bernadette Baum Organizations: Accenture, Tel Aviv University, Israel, REUTERS, Microsoft, Pearson, Apollo, Microsoft's Industry Solutions, Walt Disney Co, British, Thomson Locations: Abbosh, Bird, London, Bengaluru

☆ Disney to nearly double parks spending to $60 billion over 10 years
▼ + stars: | 2023-09-19 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +3 min

Sept 19 (Reuters) - Walt Disney (DIS.N) said on Tuesday it would nearly double its capital expenditure for its parks business to about $60 billion over the next 10 years. Disney CEO Bob Iger and Josh D'Amaro, the company's parks chief, announced the accelerated pace of investment at a gathering of Wall Street analysts and investors at Walt Disney World Resort in Orlando, Florida, focused on the company's parks business. Parks have become a reliable profit engine for Disney and has helped cushion losses in the Disney+ streaming business, which is expected to become profitable only next year. The announcement of the planned investment followed a slowdown at Walt Disney World in Orlando, as attendance surges at its parks around the world, particularly Shanghai Disney Resort and Hong Kong Disneyland. Disney also plans to nearly double the capacity of its cruise line, adding two ships in fiscal 2025 and another in 2026.

Persons: Walt Disney, Bob Iger, Josh D'Amaro, Parks, Iger, Disney, Ron DeSantis, Mario Anzuoni, Paul Verna, Thomas Hayes, Samrhitha, Dawn Chmielewski, Shailesh Kuber, Chizu Nomiyama, Paul Simao, Aurora Ellis Organizations: Disney, Wall Street, Walt Disney World, Disney California, Hollywood Studios, Republican, REUTERS, Insider Intelligence, Walt Disney, Shanghai Disney Resort, Great, Thomson Locations: Orlando , Florida, California, Orlando, Florida, Anaheim , California, U.S, Shanghai, Hong Kong, Great Hill, Bengaluru, Dawn, Los Angeles

☆ U.S. stocks close lower as investors take cover ahead of Fed decision
▼ + stars: | 2023-09-19 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

All three indexes ended the session lower in a broad sell-off ahead of the Fed's interest rate announcement on Wednesday, which is expected to culminate in a decision to leave key interest rates unchanged. The Fed is also due to release its Summary Economic Projections, including its dot plot, which should provide a glimpse into the Federal Open Markets Committee's forecast trajectory of interest rates, inflation and economic growth. On the economic front, a jump in Canada's annual inflation rate due to rising gasoline prices, and a bigger-than-expected plunge in U.S. housing starts helped feed investor uncertainty. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. Starbucks (SBUX.O) lost ground following TD Cowen's decision to downgrade the coffee chain's shares to "underperform."

Persons: Bill Northey, Helena Montana, Northey, Michael Green, Brendan McDermid, Walt Disney, Stephen Culp, Ankika Biswas, Shristi, Aurora Ellis Organizations: Disney, Dow, Nasdaq, U.S . Federal Reserve, Federal Reserve, U.S, Bank Wealth Management, Federal, Management, Fed, Maplebear Inc, chipmaker, Holdings, New York Stock Exchange, REUTERS, Arm Holdings, Dow Jones, Starbucks, General Motors, Ford Motor, United Auto Workers, NYSE, Thomson Locations: Helena, Philadelphia, New York City, U.S, Bengaluru

☆ Striking Hollywood writers, studios to resume negotiations on Wednesday
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

Phoebe Price holds a sign, while pushing a dog in a stroller, as SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line during their ongoing strike outside Sunset Bronson studios, near Netflix offices in Los Angeles, California, U.S., August 11, 2023. REUTERS/Mario Anzuoni/File photo Acquire Licensing RightsLOS ANGELES, Sept 18 (Reuters) - Negotiators for the Writers Guild of America and Hollywood's major studios will resume contract talks on Wednesday to try and end a work stoppage that has disrupted production for more than four months. The WGA, in a note to members on Monday, encouraged its writers to continue picketing outside studio offices until an agreement is reached. Writers are seeking higher compensation and protections around use of artificial intelligence. Reporting by Lisa Richwine; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Phoebe Price, Mario Anzuoni, Lisa Richwine, Jonathan Oatis Organizations: SAG, Writers Guild of America, Netflix, REUTERS, WGA, Alliance, Television Producers, Walt Disney Co, Writers, Thomson Locations: Sunset Bronson, Los Angeles , California, U.S

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