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☆ NBCUniversal's Peacock streaming service is growing, thanks to live sports
▼ + stars: | 2023-07-27 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

NBCUniversal's sports portfolio has been driving growth at its streaming service Peacock, and the company has no plans to let up, with other sports rights deals top of mind. Sports are a double-edged sword for media companies contending with relentless cord cutting and trying to make their streaming services profitable. At the same time, sports are serving as a propeller of growth for streaming, especially for fledgling services such as Peacock and Paramount Global's Paramount+. NBCUniversal's parent company, Comcast , on Thursday touted that Peacock nearly doubled its customer count year over year to 24 million. According to Cavanagh, simultaneous streaming has given the company and its sports assets "tremendous reach," and all at a lower cost to the consumer.

Persons: Travis Kelce, Raymond James Stadium, Peacock, Mike Cavanagh, Cavanagh, it's Organizations: Kansas City Chiefs, Tampa Bay Buccaneers, Paramount, Comcast, Sports, NFL, Nascar, Premier League, Telemundo —, Paris Olympics, Sunday, Football, Premier League soccer

☆ ESPN held talks with NBA, NFL and MLB in search for strategic partner, sources say
▼ + stars: | 2023-07-21 | by ( Alex Sherman | ) www.cnbc.com time to read: +4 min

ESPN has held preliminary discussions with the NFL, NBA and MLB about a variety of new partnerships and investment structures, the people said. Spokespeople for ESPN, the NFL and MLB declined to comment. The NBA and Disney have broached many potential structures around a renewal of media rights, the people said. Iger said last week in an interview with CNBC's David Faber that Disney is looking for a strategic partner for ESPN as it prepares to transition the sports network to streaming. Superficially, it may make less sense for the NBA, NFL and MLB which sign lucrative media rights deals with many media partners that fuel team revenue and player salaries with a range of media companies.

Persons: LeBron James, Bob Iger, Jimmy Pitaro, Spokespeople, RedZone, Iger, CNBC's David Faber, Faber, I'm Organizations: Los Angeles Lakers, LA Clippers, ESPN, Disney, National Football League, National Basketball Association, Major League Baseball, NFL, NBA, MLB, NFL Network, NFL.com, Warner Bros, Discovery, Hearst, Professional, Comcast, Amazon, Paramount Global, Apple Locations: Lake Buena Vista , Florida, Fox

☆ How Netflix can end the Hollywood strike in a way Disney, Paramount can't afford
▼ + stars: | 2023-07-20 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

"The strike is not something we wanted," said Sarandos, whose company is negotiating jointly with competing movie studios like Disney and Paramount whose parent companies also own streaming services. Some big-media companies that own streaming services, like Paramount and Disney, have seen their shares drop even in the renewed bull market of the past year. LightShed Partners analyst Rich Greenfield says Netflix made $6.5 billion last year excluding interest, taxes, and non-cash charges, while rival streaming services at Paramount, Disney and NBC lost more than $8 billion. That's a relatively small number for an industry with revenues topping $70 billion, $31.6 billion of it last year at Netflix. Paramount Global's Paramount+ service lost $1.8 billion last year, but saw losses shrink in the first quarter.

Persons: Mike Blake, Mark Mahaney, Ted Sarandos, Greg Peters, Michael Pachter, Robert Iger, Iger, CNBC's David Faber, Max, Rich Greenfield, Mahaney, hasn't, Jake Urbanski, Jamie Lumley, Peters, Spencer Neumann Organizations: Guild of America, Netflix, Alliance, Producers, Wednesday, Writers Guild of America, Screen, American Federation of Television, Radio Artists, Disney, Paramount Global, Amazon, Wedbush Securities, Television Producers, CNBC, Walt Disney Co, Sun, Paramount, Warner Bros, LightShed, NBC, Hollywood, Moody's Investors Service, Writers ' Guild of America, WGA, Twitter, Hulu, Comcast, Apple Locations: Los Angeles , California, U.S

☆ Netflix earnings showcase strength as the rest of the media industry struggles
▼ + stars: | 2023-07-19 | by ( Alex Sherman | ) www.cnbc.com time to read: +1 min

(Photo by Charley Gallay/Getty Images for Netflix)The main takeaway from Netflix 's second quarter earnings is business is ... good. Netflix added 1.2 million subscribers in the United States and Canada in the quarter — its largest regional quarterly gain since 2021. This is not the story for the rest of the media industry. That means Netflix will actually have even more cash than it previously expected. Next quarter, Netflix forecast subscriber gains will be about 6 million again.

Persons: Netflix Ted Sarandos, Charley Gallay Organizations: Netflix, Raleigh Studios Hollywood, Disney, Warner Bros, Paramount Global, Comcast Locations: ANGELES , CALIFORNIA, Los Angeles , California, United States, Canada

☆ Stocks making the biggest moves midday: Ford, AT&T, Yelp, Figs and more
▼ + stars: | 2023-07-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Paramount Global — The entertainment company's stock shed 4.4% after the new "Mission: Impossible" movie underperformed expectations at the box office. The Wall Street firm said Progressive's valuation is now compelling after its poor results in June, and said the company has long-term earnings power and growth potential. Yeti — The cooler company's stock fell 5.8% following a downgrade to underweight from sector weight by KeyBanc. The Wall Street firm cited concerns over Yeti's growth and its heavy wholesale channel inventory. State Street — The asset manager slipped more than 3.1% after the firm was downgraded by multiple Wall Street firms, including JPMorgan.

Persons: Rivian, Tesla —, Knight, Yelp, Goldman Sachs, Raymond James, Cantor, —, Samantha Subin, Alex Harring, Tanaya Macheel, Brian Evans Organizations: Ford —, Ford, Tesla — Elon, Constellation Software, Intercontinental Exchange, Citi, BridgeBio Pharma —, Activision, Microsoft, Sony, PlayStation, Activision Blizzard, Paramount Global, Variety, Apellis Pharmaceuticals, American, JPMorgan, Wall, State Street's, Iris Energy

☆ Stocks making the biggest premarket moves: Activision Blizzard, Chewy, Yelp, Tesla and more
▼ + stars: | 2023-07-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Chewy — Shares jumped more than 5% after Goldman Sachs upgraded them to buy from neutral. Paramount Global — Shares of the entertainment company fell 2.8% in premarket trading after the latest installment in the "Mission: Impossible" franchise underperformed expectations at the box office. State Street — The financial giant slipped about 2% in premarket trading. The stock was downgraded by JPMorgan to underweight from neutral following State Street's earnings release Friday. Figs — Shares of the apparel company fell 4.6% in premarket trading after Raymond James downgraded Figs to market perform from outperform.

Persons: Goldman Sachs, Morgan Stanley, Yelp, Goldman, Tesla, Raymond James, —, Jesse Pound, Hakyung Kim, Michael Bloom Organizations: Activision, Warfare, Microsoft, Sony, PlayStation, Activision Blizzard, PepsiCo, Paramount, Variety, Citi, JPMorgan, State Street's

☆ The media industry is in turmoil, and that's not changing anytime soon
▼ + stars: | 2023-07-17 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +11 min

All of this turmoil will be on investors' minds as the media industry kicks off its earnings season this week, with Netflix up first on Wednesday. Netflix, with a new advertising model and push to stop password sharing, looks the best positioned compared with legacy media giants. At the top of the list is contending with Disney's TV networks, as that part of the business appears to be in a worse state than Iger had imagined. The labor fight blew up just as the industry has moved away from streaming growth at all costs. Last week's ruling from a federal judge that Microsoft's $68.7 billion acquisition of game publisher Activision Blizzard should move forward serves as a rare piece of good news for the media industry.

Persons: Mike Blake, Bob Iger, Iger, Bob Iger's, Michael Nathanson, SVB, CNBC's David Faber, Nathanson, Producers –, Mark Boidman, Ross Benes, Benes, Comcast's NBCUniversal, Solomon, Boidman, Random, Paramount's Simon, Schuster, Tegna, Jason Anderson, Peter Liguori, Anderson, HBO Max, Homer, Marge Getty Organizations: Guild of America, Netflix, Alliance, Producers, Reuters, Disney, Disney's, Paramount Global, Comcast, Warner Bros, American Federation of Television, Radio Artists, Media, Solomon Partners, CNBC, Hollywood, Intelligence, ABC, Paramount, BET, NBC Sports, USA, Discovery, Activision, Federal Trade Commission, dealmaking, Microsoft, Tribune Media, Max, HBO, Amazon, MGM, Sky, Fox Corp, FOX Locations: Los Angeles , California, U.S, MoffettNathanson, Hulu

LOS ANGELES, July 13 (Reuters) - Hollywood actors will go on strike at midnight on Thursday after talks with studios broke down, joining film and television writers who have been on picket lines since May and deepening the disruption of scores of shows and movies. The actors' union announced at a Thursday press conference that the strike will begin at midnight after its national board unanimously authorized the walkout. Fran Drescher, former star of "The Nanny" TV show and the president of SAG-AFTRA, called the studios' responses to actors' concerns "insulting and disrespectful." But the loss of actors, who will also not promote their films or TV shows while on strike, will put more pressure on media companies to find a resolution. The economic damage is expected to spread after actors join the picket lines on Friday.

Persons: Fran Drescher, Drescher, AFTRA, Rather, Duncan Crabtree, Ridley Scott, Bob Iger, Iger, Matt Damon, Oppenheimer, Lisa Richwine, Jonathan Allen, Dawn Chmielewski, Marie, Louise Gumuchian, Mark Porter, Bill Berkrot Organizations: SAG, Writers Guild of America, Television Producers, Netflix Inc, Walt Disney Co, Reuters, Alliance, Paramount Pictures, Hollywood, WGA, Screen Actors Guild, Disney, CNBC, Comcast, Paramount Global, Thomson Locations: ANGELES, United States, Hollywood's, Morocco, Malta, Idaho, California

☆ Actors are poised to go on strike against studios and streaming services
▼ + stars: | 2023-07-12 | by ( Chris Isidore | ) edition.cnn.com time to read: +10 min

The actors could be on strike themselves without a last-minute deal with studios and streaming services on Wednesday. Production of many movies and television shows have already been shut down by the current writers strike. An actors strike would bring most remaining productions to a halt, other than on some independent films not associated with studios. This would be the first actors strike against television shows and movie productions since 1980. Just before the last deadline, it seemed as if an actors strike could be avoided.

Persons: haven’t, ”, Robyn Beck, It’s, Tom Nunan, Jonathan Handel, Handel, “, it’s, Blockbuster hadn’t, David Mumpower, Fran Drescher, —, Meryl Streep, Glenn Close, Jennifer Lawrence, Bob Odenkirk, Mark Ruffalo, Quinta Brunson, Rami Malek, you’ve, Theron, Joaquin Phoenix, Jamie Lee Curtis, Cobie Smulders, Pedro Pascal, Drescher, –, Vanessa Yurkevich Organizations: New, New York CNN, Screen, American Federation of Television, Radio Artists, Alliance, Motion Pictures, Television Producers, Apple, CBS, Disney, NBC Universal, Netflix, Paramount Global, Sony, CNN, Warner Bros ., Federal Mediation, Conciliation Service, SAG, UCLA School of Theater, Film, Television, Writers Guild of America, Blockbuster, AMPTP, Gabbana’s Locations: New York, AFP, Moda, Southern Italy

☆ Hollywood studios racing to avoid actors' strike at midnight
▼ + stars: | 2023-07-12 | by ( Lisa Richwine | ) www.reuters.com time to read: +3 min

[1/2] People attend a demonstration held by the Writers Guild of America as the film and TV writers' strike continues, in Los Angeles, California, U.S., June 21, 2023. SAG-AFTRA, Hollywood's largest union, is demanding higher compensation in the streaming TV era plus safeguards around the use of artificial intelligence (AI). They would join about 11,500 members of the Writers Guild of America (WGA), who went on strike in early May. A strike by SAG-AFTRA would force more sets to shut down and pile pressure on studios to find a resolution. The studios and the WGA have not held talks since the writers' strike began on May 2.

Persons: Mike Blake, Jennifer Lawrence, Meryl Streep, Walt Disney, Lisa Richwine, Bill Berkrot Organizations: Writers Guild of America, REUTERS, SAG, Hollywood, WGA, Screen, Netflix, Disney, Comcast, Paramount Global, Alliance, Television Producers, Thomson Locations: Los Angeles , California, U.S, Hollywood's

☆ Disney extends CEO Bob Iger's contract through 2026, two years longer than planned
▼ + stars: | 2023-07-12 | by ( Sarah Whitten | ) www.cnbc.com time to read: +5 min

The Walt Disney Company will extend CEO Bob Iger's deal by two years, extending his tenure through 2026. Iger returned to Disney in November, retaking the job from Bob Chapek, who was appointed CEO in early 2020. On four different occasions between 2013 and 2017, he extended his tenure as CEO after saying he planned to retire. Tune in: CNBC's David Faber will interview Disney CEO Bob Iger on CNBC's "Squawk Box" at 8 a.m. To that end, I'm writing to share that I have agreed to the Disney Board's request to remain CEO for an additional two years – through the end of 2026.

Persons: Bob Iger's, Iger, Bob Chapek, Iger's, CNBC's David Faber, Bob Iger, We've, we've, Christine McCarthy, Bob, Mark Parker, Read, I've, It's, Bob — CNBC's Alex Sherman, Kerry Caufield, David Faber Organizations: Walt Disney Company, CNBC, Disney, Netflix, Warner Bros . Discovery, Paramount, Pixar

“We will not be distracted from negotiating in good faith to secure a fair and just deal by the expiration of our agreement,” said the statement from SAG-AFTRA, the actors union. If they go on strike, they will be joining more than 11,000 members of the Writers Guild of America on picket lines against major studios and streaming services. The writers have been on strike for more than two months. SAG-AFTRA said that news reports were published about management’s desire for mediation even before the request was made of union negotiators at the bargaining table. “The AMPTP has abused our trust and damaged the respect we have for them in this process,” said the union’s statement.

Persons: ”, AFTRA Organizations: New, New York CNN, SAG, Writers Guild of America, Alliance of Motion Pictures, Television Producers, Apple, CBS, Disney, NBC Universal, Netflix, Paramount Global, Sony, CNN, Warner Bros . Discovery Locations: New York

The PGA Tour on Tuesday defended its controversial deal with the Saudi-backed LIV Golf league before senators, as scrutiny of the agreement intensifies. Representatives from LIV Tour and Saudi Arabia's Public Investment Fund wasn't present at the hearing because CEO Greg Norman is out of the country, according to a spokesperson. PGA Tour operating chief Ron Price and policy board independent director Jimmy Dunne testified before the Senate Homeland Security Committee's subcomittee on investigations. Dunne and Price said they believed the PGA Tour would benefit the most from the proposed deal. The PGA Tour would manage competitions, and has said it is leading the negotiations to reach a finalized deal.

Persons: LIV, Greg Norman, Ron Price, Jimmy Dunne, Dunne, Price, Yasir Al, Rumayyan, Sen, Richard Blumenthal, Conn, It's, Blumenthal, Norman, Ron Johnson, Johnson, CNBC's Organizations: LIV Golf, LIV Tour, Saudi Arabia's Public Investment Fund, PGA Tour, Senate Homeland Security, Comcast, Paramount Global, Disney, Warner Bros, Capitol, PIF Locations: Saudi, American, Yemen

☆ SAG actors union President Fran Drescher criticized for Italy trip on eve of possible strike
▼ + stars: | 2023-07-11 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —Fran Drescher, the president of the SAG-AFTRA union, is facing criticism for traveling to Italy to attend Dolce & Gabbana’s Alta Moda festivities this past weekend as her 160,000-member actors union faces a Thursday deadline to go on strike. And we are concerned by the idea that SAG-AFTRA members may be ready to make sacrifices that leadership is not. An actors strike would bring most remaining productions to a halt, other than on some independent films not associated with studios. There has been no visible progress in ending the writers strike since it started on May 2. This could be the first actors strike against television shows and movie productions since 1980.

Persons: New York CNN — Fran Drescher, Kim Kardashian, ”, Lenny Jacobson, Briana, Taffy Brodesser, AFTRA, Drescher, you’ve, Blockbuster hadn’t Organizations: New, New York CNN, SAG, Gabbana’s, Moda, Guild of America, “, WGA, Dolce, Blockbuster, Alliance, Motion Pictures, Television Producers, Apple, CBS, Disney, NBC Universal, Netflix, Paramount Global, Sony, CNN, Warner Bros, Discovery Locations: New York, Italy, LA

☆ Mission Impossible: Paramount reckoning
▼ + stars: | 2023-07-05 | by ( Jennifer Saba | ) www.reuters.com time to read: +8 min

NEW YORK, July 5 (Reuters Breakingviews) - Paramount Global’s (PARA.O) predicament is worthy of its successful “Mission: Impossible” franchise. Over the past year or so, Warren Buffett’s Berkshire Hathaway (BRKa.N) has bought and increased its stake in Paramount to about 15%. Without the funding, her closely held firm might have needed to pledge more of its Paramount stock against a loan. Streaming service Paramount+ is similar to Netflix, whose enterprise is worth 5 times next year’s estimated revenue. “Mission: Impossible Dead Reckoning Part One,” from Paramount Pictures, opens in movie theaters on July 12.

Persons: Shari Redstone, Looney, Walt Disney, Sumner, Warren Buffett’s Berkshire Hathaway, Goldman Sachs, Byron Trott, Rudolph Valentino, Mae West, Marx, Trustbusters, Martin Davis, Sumner Redstone, Simon, Schuster, Walt, Jeffrey Goldfarb, Sharon Lam, Streisand Neto Organizations: YORK, Reuters, Paramount, Warner Bros Discovery, AT, Netflix, Apple, Comcast, Electronic Arts, MSD Partners, Viacom, Audio Communications, CBS, Nickelodeon, MTV, Time Warner, Reuters Graphics Reuters, Tiffany Network, National Football League, Fox, Amazon, MGM, U.S, Penguin Random, Walt Disney, Amusements, Paramount Global, BDT Capital Partners, “, Paramount Pictures, Thomson Locations: U.S, Gulf, Western, NAI

☆ Rupert Murdoch Can Do Whatever He Wants. It’s Becoming a Problem. - The New York Times
▼ + stars: | 2023-07-04 | by ( William D. Cohan | ) www.nytimes.com time to read: +3 min

Mr. Murdoch’s heir apparent, Lachlan, defended Fox and the Dominion settlement when speaking to investors on May 9. Contrast Mr. Murdoch with, say, Jamie Dimon, the chairman and chief executive of JPMorgan Chase, the nation’s largest bank. Does anyone at Fox or News Corp hold Mr. Murdoch accountable in the same way? One way to rein in Mr. Murdoch may lie with Smartmatic. Smartmatic, or even the recently filed shareholder lawsuit against Fox, could end up pressuring Fox, and indirectly News Corp, to scrap their dual-class stock structures.

Persons: Murdoch’s, Lachlan, ”, “, ” Ms, Minow, Roberts, Shari Redstone, Murdoch, Jamie Dimon, JPMorgan Chase, Joaquin Duato, Johnson, Dimon, he’s, Duato Organizations: Fox, Fox News, Fox Corporation, Comcast, Paramount Global, JPMorgan, Mr, News Corp Locations: America

☆ Actors poised to join writers on strike against studios and picket lines
▼ + stars: | 2023-06-30 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

Industry experts like Jonathan Handel, an entertainment lawyer and writer and author of a book on the 2007-08 writers strike, “Hollywood on Strike! Production of many movies and television shows have already been shutdown by the current writers strike. An actors strike would bring most remaining productions to a halt, other than on some independent films not associated with studios. There has been no visible progress in ending the writers strike since it started. This would be the first actors strike against television shows and movie productions since 1980.

Persons: Jonathan Handel, ”, Handel, Blockbuster hadn’t, David Mumpower, Fran Drescher, Meryl Streep, Glenn Close, Jennifer Lawrence, Bob Odenkirk, Mark Ruffalo, Quinta Brunson, Rami Malek, you’ve, Charlize Theron, Joaquin Phoenix, Jamie Lee Curtis, Cobie Smulders, Pedro Pascal, Interestingl, Drescher, “, “ It’s, Tom Nunan Organizations: New, New York CNN, Screen, American Federation of Television, Radio Artists, Writers Guild of America, Blockbuster, Disney, Alliance, Motion Pictures, Television Producers, Apple, CBS, NBC Universal, Netflix, Paramount Global, Sony, CNN, Warner Bros ., SAG, UCLA School of Theater, Film, Television Locations: New York

☆ Actors delay potential strike against studios and streaming services, extending contract negotiations
▼ + stars: | 2023-06-30 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —A union representing about 160,000 actors has put plans to go on strike against major studios and streaming services on hold. But that doesn’t mean that a strike will now be avoided, said Jonathan Handel, an entertainment lawyer and writer and author of a book on the 2007-08 writers strike, “Hollywood on Strike! Production of many movies and television shows have already been shut down by the current writers strike. An actors strike would bring most remaining productions to a halt, other than on some independent films not associated with studios. The actors union has not been on strike against television shows and movie productions since 1980.

Persons: “, ”, Fran Drescher, Drescher, Jonathan Handel, Blockbuster hadn’t, David Mumpower, Meryl Streep, Glenn Close, Jennifer Lawrence, Bob Odenkirk, Mark Ruffalo, Quinta Brunson, Rami Malek, you’ve, Charlize Theron, Joaquin Phoenix, Jamie Lee Curtis, Cobie Smulders, Pedro Pascal, Tom Nunan Organizations: New, New York CNN, American Federation of Television, Radio Artists, SAG, ”, Writers Guild of America, WGA, Hollywood, Guild of America, Blockbuster, Disney, Alliance, Motion Pictures, Television Producers, Apple, CBS, NBC Universal, Netflix, Paramount Global, Sony, CNN, Warner Bros ., AMPTP, UCLA School of Theater, Film, Television Locations: New York

☆ Here are Monday's biggest analyst calls: Meta, Tesla, Disney, Amazon, Boeing, Walmart, Uber & more
▼ + stars: | 2023-06-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Monday's biggest calls on Wall Street: Bank of America upgrades Alliant to buy from neutral Bank of America said shares of the Wisconsin and Iowa energy company are attractive. UBS upgrades Moderna to buy from neutral UBS said the biotech company's pipeline is underappreciated. UBS downgrades Alphabet to neutral from buy UBS said it sees "near-term monetization risk" for the tech giant. Bank of America reiterates Paramount Global as buy Bank of America said the media company is "unique." Loop reiterates Disney as buy Loop said it's standing by its buy rating on the entertainment and parks giant.

Persons: LNT, Goldman Sachs downgrades Tesla, Goldman, Morgan Stanley, TD Cowen, Coinbase, underperform TD Cowen, Wells, Brinker, Williams, Tesla, Bernstein, Uber, Davidson, Roth, Roth MKM, Piper Sandler, Lululemon, Piper, LULU Organizations: Bank of America, of America, UBS, Moderna, Walmart, Amazon Prime, BTC, BMO, Sherwin, Deutsche Bank, Deutsche, Citi, Boeing, WSFS Financial Corporation, Networks, TAM, Meta, Paramount Global, Brunswick Locations: Wisconsin, Iowa, China

☆ Legacy media companies enter dark times as failures mount and Netflix rises again
▼ + stars: | 2023-06-25 | by ( Alex Sherman | ) www.cnbc.com time to read: +4 min

Stock Chart Icon Stock chart icon Netflix vs the S&P 500 over the past five months. Stock Chart Icon Stock chart icon Disney vs. the S&P 500 over the past five months. Stock Chart Icon Stock chart icon Warner Bros. Stock Chart Icon Stock chart icon Paramount Global vs the S&P 500 over the past five months. Stock Chart Icon Stock chart icon Comcast vs the S&P 500 over the past five months.

Persons: Bob Iger, David Zaslav, Bob Bakish, Wells Fargo, Warren Buffett, It's, dethroning, Donald Trump's, Mario, Zaslav, Greenfield, there's, There's, Simon & Schuster, Mark Read Organizations: Walt Disney Company, Warner Bros, Paramount Global, Getty, Companies, Netflix, Disney, Warner Bros . Discovery, Paramount, CNBC, Fox Corp, Comcast, MSNBC, dethroning Fox, Mario Bros, Boston University, Hollywood, Activision, Simon &, WPP, Cannes Lions Locations: Cannes, France

☆ Directors Guild of America ratifies new contract with studios
▼ + stars: | 2023-06-23 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +3 min

CNN —Members of the Directors Guild of America voted to approve a new three-year contract with studios Friday, with 87% of membership voting in favor of the deal. The contract, which was recommended by the DGA negotiating committee was a “historic” deal for wages, work hours, residuals, and artificial intelligence. The tentative agreement was reached against the backdrop of the Writers Guild Strike, which has been going on for eight weeks. AMPTP and the Writers Guild were not able to come up with a deal before their contract expired on May 1. This vote result could set the tone and precedent for the striking Writers Guild.

Persons: ”, Lesli Linka Glatter, Alec Baldwin, Halyna Hutchins, AMPTP Organizations: CNN, Guild of America, DGA, Alliance, Television Producers, Apple, CBS, Disney, NBC Universal, Netflix, Paramount Global, Sony, Warner Bros ., Writers Guild, Artificial Intelligence, IA, Teamsters, SAG

☆ Harper Collins, KKR bidding for Simon & Schuster, Wall Street Journal reports
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +1 min

June 15 (Reuters) - HarperCollins Publishers and KKR & Co (KKR.N) are among the bidders for book publisher Simon & Schuster as it pursues a sale for the second time in less than three years, the Wall Street Journal reported on Thursday, citing people familiar with the matter. Reuters had in February reported that Paramount Global (PARA.O), the owner of Simon & Schuster, was again seeking to sell the publisher, months after the media company's $2.2 billion deal to sell the book publisher to Penguin Random House collapsed. Last year, the U.S. Justice Department sued to stop the tie-up of Penguin and Simon & Schuster, as a combined group would have accounted for nearly half of the market for publishing rights to blockbuster books. HarperCollins and Simon & Schuster did not immediately respond to Reuters' requests for comment, while KKR declined to comment. Paramount is exploring a sale that could value Simon & Schuster between $2 billion and $2.5 billion and was also courting private equity buyers, Reuters reported in February, citing sources.

Persons: Simon, Schuster, Simon & Schuster, Chavi Mehta, Pooja Desai Organizations: HarperCollins Publishers, KKR, Co, Wall Street, Reuters, Paramount, Simon &, Penguin Random, U.S . Justice Department, HarperCollins, News Corp, Thomson Locations: Bengaluru

☆ Amazon plans ad tier for Prime Video streaming service - WSJ
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - Amazon.com (AMZN.O) is planning to launch an advertising-supported tier of its Prime Video streaming service, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The WSJ report also said Amazon was holding discussions with Warner Bros Discovery (WBD.O) and Paramount Global (PARA.O) about adding the ad-based tiers of their streaming services through Prime Video Channels. "In recent years, Prime Video has gotten more aggressive about running promos prior to its shows and including ad-filled sports broadcasts," said Ross Benes, Insider Intelligence principal analyst. Sports coverage on Prime Video already comes with ads. "Officially putting ads into Prime Video allows Amazon to centralize its audience and be more consistent with branding," Benes added.

Persons: Walt Disney, Ross Benes, Benes, Yuvraj Malik, Samrhitha, Devika Organizations: Wall Street, Netflix, Amazon, Warner Bros Discovery, Paramount Global, Paramount, Intelligence, Sports, Prime, Thomson Locations: Bengaluru

☆ Warren Buffett – he invests just like us!
▼ + stars: | 2023-06-07 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +7 min

NEW YORK, June 7 (Reuters Breakingviews) - “Do as I say, not as I do” sounds like the kind of pithy thing Warren Buffett might say to his adoring throngs. The conglomerate was an investor for a dozen years, until Buffett got spooked by Freddie Mac’s overly rosy earnings growth projections. The $1.3 billion stake it finished accumulating in 1994 was worth $25 billion last month. A $13 billion stake in IBM (IBM.N) came and went, as did $8 billion of JPMorgan (JPM.N) and almost $3 billion of biopharmaceutical company AbbVie (ABBV.N). Warren Buffett, Berkshire’s chairman and CEO, said that geopolitical tensions contributed to the decision to sell most of the $4.1 billion TSMC stake just a few months after buying it, the Nikkei reported on April 11.

Persons: Warren Buffett, can’t, There’s, Buffett, Freddie Mac, Freddie Mac’s, Coke, Benjamin Moore, TSMC, ”, Wells, ” Buffett, Berkshire Hathaway, John Foley, Sharon Lam Organizations: YORK, Reuters, Berkshire Hathaway, Home Loan Mortgage, U.S ., Berkshire, BNSF, Taiwan Semiconductor Manufacturing, Buffett, ” Morningstar, Treasury, New York Stock Exchange, American Express, IBM, JPMorgan, Activision, Occidental Petroleum, Paramount Global, Oracle, Reuters Graphics Reuters, Nikkei, Thomson Locations: Berkshire, U.S, TSMC . Berkshire, Japan, Taiwan, Omaha, China

☆ Middle Eastern investors are pouring money into US media, sports, and entertainment — here are the 9 most active players and their key leaders
▼ + stars: | 2023-06-05 | by ( Lucia Moses | Claire Atkinson | ) www.businessinsider.com time to read: +10 min

Investors in Saudi Arabia, Qatar, and United Arab Emirates are pouring money into Western media and entertainment. Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment, and they're finding plenty of takers. The channels for money from Saudi Arabia and other parts of the Middle East are complex. Insider broke down the key entities — their owners, leaders, and high-profile investments and joint ventures — in the top three Middle Eastern nations pouring money into US entertainment and media. It describes itself as the largest media company in the Middle East and North Africa and runs one of the largest TV news channels, Al Arabiya.

Persons: Jamal Khashoggi's, Saudi Crown Prince Mohammed bin Salman, —, WME, Jimmy Finkelstein's, Abu Dhabi's, It's, Yasir Al, Rumayyan, Waleed bin Ibrahim Al Ibrahim, Sam Barnett, Peter Smith —, Christina Wayne, SRMG, Mohammed bin Salman, Alrashid, Johnny Depp, Jeanne du Barry, Sharon Stone, Bruno Mars, Luca Guadanigno, Vince McMahon's, Turki Al, Mohammed bin Abdulrahman bin Dayel, Mansoor bin Ebrahim Al, Mahmoud, Peter Chernin, Nasser Al, Germain, BeIN, Sheikha Al Mayassa bint Hamad, Khalifa Al, Vincent, Asghar Farhadi's Oscar, Nart Bouran, JAF, Jeff Zucker, Graydon Carter's, it's, Semafor, Sheikh Mansour bin Zayed Al Nahyan, Sheikh Mansour, Sultan Ahmed Al Jaber Organizations: United, Sovereign, Saudi, Washington Post, Saudi Crown, Endeavor, UFC, IMI, Abu Dhabi Media Investment Corporation, Public Investment Fund, Saudi Aramco, Newcastle United, English football, PGA, MBC, Shahid, Netflix, Vice Media, Variety, MBC Group's, Antenna Group, Cineflex Studios, NBCUniversal International, Amazon, AMC, Saudi Research, Media, Publicly, Red Sea, Cannes, Penske Media Corporation, Bloomberg Media, Vince McMahon's WWE, country's General Entertainment Authority, Development, Cultural Development Fund, George Washington University, American University . Qatar Qatar Investment, Qatar Investment Authority, Providence, BeIN Media, Paris Saint, Miramax, Paramount, Doha Film, Doha Film Institute, H.E, Hollywood Reporter, United Arab Emirates Abu, Investment Authority, UAE, Abu, Abu Dhabi Investment Authority, Hollywood, Dubai Studio, Dubai Media City, National Geographic, BBC News, International Media Investments International Media Investments, National, CNN, Sky News Arabia, Reuters, JAF Communications, Grid, RedBird Capital Partners, Punchbowl News, New York Times, Manchester City, The, Abu Dhabi National Oil Company Locations: Saudi Arabia, Qatar, United Arab Emirates, UAE, Saudi, East, North Africa, Al Arabiya, Netherlands, Greece, Dubai, Jeddah, SRMG, Riyadh, Doha, Europe, Americas, ViacomCBS, Qatari, Thani, Abu Dhabi

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