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☆ In a tricky box office summer, how can indie cinemas survive?
▼ + stars: | 2024-08-03 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

Minneapolis CNN —For 90-plus years, the Parkway Theater has been a fixture in South Minneapolis, gathering generation after generation of patrons in front of its lone movie screen. The Parkway Theater of today is one part revival house cinema, one part performing arts venue, and another part community event space. Parkway Theater owners Ward Johnson (left) and Eddie Landenberger in the theater lobby in Minneapolis on July 8. Moviegoers at a drive-in movie theater in the parking lot of the Rose Bowl in Pasadena, California, on September 3, 2020. Still, cinema operators have to be cautious in their approach, said Kate Markham, administrative coordinator with Art House Convergence, a coalition of independent, community-oriented cinemas.

Persons: David Hancock, Omdia’s, “, ” Hancock, “ Young Frankenstein ”, moviegoing, ”, Ward Johnson, Eddie Landenberger, Christian Meoli, —, Ricard Gil, Michael Tullberg, ” Gil, “ Barbie, Ward, Alicia Wallace, ” Johnson, ” Andrew Sherburne, “ We’re, Meoli, there’s, showmen, Bing Guan, ’, Bill Campbell, showmen ”, Rich Daughtridge, they’ll, ” Campbell, Kate Markham Organizations: Minneapolis CNN —, Parkway, CNN, Omdia, Theater, Cinelounge, Wim, Queen’s University, Disney, El Capitan Theatre, Hollywood, Global Entertainment, Media, Blockbuster, Rose Bowl, Bloomberg, Independent Cinema Alliance, Orpheum, ICA, Art, cineplex Locations: Minneapolis, South Minneapolis, London, California, Canada, Los Angeles , California, —, Iowa City , Iowa, That’s, Tiburon , California, Pasadena , California, Covid, Sheridan , Wyoming, Maryland

☆ Goldman says buy this little-known digital entertainment stock primed to surge more than 200%
▼ + stars: | 2024-07-22 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Webtoon Entertainment could be a good add for investors looking for exposure to the creator economy, according to Goldman Sachs. The bank initiated the stock with a buy rating and a 12-month price target of $62. Webtoon Entertainment went public last month and priced at $21 per share. First, he thinks Webtoon has exposure to several markets, including a $130 billion paid content market opportunity, the $477 billion advertising space and a $900 billion global entertainment industry. Sheridan also believes that Webtoon could grow revenue at a compound annual rate of 19% through 2029 to roughly $3.5 billion.

Persons: Goldman Sachs, Goldman, Eric Sheridan, Sheridan, Webtoon Organizations: Webtoon, Webtoon Entertainment Locations: North America

☆ Star Wars was the first Lego license — 25 years later, it's stronger than ever
▼ + stars: | 2024-05-04 | by ( Sarah Whitten | ) www.cnbc.com time to read: +7 min

Star Wars Lego models are seen at the Bricks & Figs museum in Krakow, Poland, on April 15, 2023. A design director at the Denmark-based Lego company, he has spent the past 25 years creating Lego Star Wars sets. Now, Lego Star Wars has become a blueprint for the company's other brand deals — think Harry Potter, Batman and Marvel's Avengers. The Lego Star Wars collaboration came at a time of financial turmoil for Lego. Lego Icons, Lego Technic, Lego City and Lego Harry Potter also performed well.

Persons: Jens Kronvold Frederiksen, Frederiksen, Darth Vader, Harry Potter, Jill Wilfert, Wilfert, It's, Paul Southern, Shirlaine Forrest, " Frederiksen, we're, Southern, We've Organizations: Anadolu, Getty, Star, CNBC, Disney, Epic Games, Lego Star, Lego, Force, Manchester Central, Imperial, Star Wars, Lucasfilm, Walt Disney Company, Lego Star Wars, Warner Bros, Games Locations: Krakow, Poland, Denmark, Lego, Manchester, England

☆ Radical Christians in South Korea Are Spreading a Homophobic Conspiracy Theory - The New York Times
▼ + stars: | 2024-04-28 | by ( Raphael Rashid | ) www.nytimes.com time to read: +1 min

Since South Korean voters delivered a full-throated rebuke of their conservative president this month, a small but influential group has been on edge. The country has no national law that explicitly prohibits unfair treatment based on race or ethnicity, language or sexual orientation. The bylaws’ critics argue that the so-called student human rights ordinances overemphasize students’ rights and downplay the rights of teachers. The conservative campaign must be seen for what it is: part of a concerted effort to erase L.G.B.T.Q. visibility from schools and ultimately, South Korean society.

Persons: it’s Organizations: South, Organization for Economic Cooperation, Development Locations: Korea, Japan, Turkey, South Korean

☆ Premarket stocks: Magnificent Six? Fab Five? Some say the Seven are getting a shakeup
▼ + stars: | 2024-02-08 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Is Wall Street’s favorite clique of tech stocks in need of a makeover? Most of the Magnificent Seven stocks have reclaimed their leadership of the market this year, with shares of Nvidia, Meta Platforms, Alphabet and Microsoft reaching record highs. Many investors are skeptical that the Magnificent Seven will match their blockbuster gains from 2023, even if they continue their leadership this year. Jim Worden, chief investment officer at the Wealth Consulting Group, says he believes the group should consolidate to the “Fab Five,” which he classifies as the Magnificent Seven minus Tesla and Apple. “There is a big leadership change underway in the Magnificent Seven stocks,” wrote Louis Navellier, chairman of Navellier & Associates, in a note on Tuesday.

Persons: Jim Worden, ”, Worden, Michael Hartnett, Jim Cramer, Louis Navellier, “, Nancy Tengler, It’s, Walt, Gina Lee, Samantha Delouya, Disney, Ron DeSantis, Diksha Madhok, ” TSMC, Joe Biden, ” Read Organizations: CNN Business, Bell, New York CNN, Nvidia, Meta, Microsoft, Apple, Wealth Consulting, Bank of America, Facebook, Netflix, Google, Federal Reserve, Micro Computer, Navellier, Associates, EV, Disney, Walt Disney World, Disney Vacation, Taiwan Semiconductor Manufacturing Company, Semiconductor Manufacturing, TSMC, US Locations: New York, China, American, Orlando , Florida, —, Florida, Japan Chip, Japan, Arizona

☆ It’s never been more expensive to be a Disney fan
▼ + stars: | 2024-02-07 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

Not only have theme park visits gotten more expensive, but so have Disney’s cruise vacations, souvenirs and the company’s streaming services. Over the summer, Disney quietly raised the prices at two of the adult-exclusive restaurants on board its cruise ships to $135 per person for dinner, a nudge up of $10, according to the Disney Cruise Line Blog. But one thing is certain: being a Disney fan has never been more expensive. Passengers stand on the deck of Disney Dream, a Disney Cruise Lines' ship, as it sails to the Bahamas on August 9, 2021. Joe Skipper/ReutersBrittany Huizinga, an Arizona-based travel agent at Smart Moms Travel, took a two-part trip with her husband and two children during the holiday season: The first four nights were spent at Walt Disney World and the last five nights on a Disney Cruise ship.

Persons: Walt, Gina Lee, ”, “, Disney, Ron DeSantis, Don Munsil, —, That’s, Minnie, Joseph Prezioso, Genie, we’ve, ” Munsil, Joe Skipper, Brittany Huizinga, Bob Iger, Mouse’s, Doug Arthur, “ It’s, Disney’s, Lee Organizations: CNN, Walt Disney World, Disney, Disney Vacation, Magic, Walt Disney, Anadolu Agency, Getty Images Parks, Disney Cruise Lines, Smart, Huber Research Partners, Disney’s ESPN, Fox Corporation, Warner Bros ., . Disney, Wayback Locations: Orlando , Florida, New York, —, Florida, Disneyland, California, Orange County , Florida, Bahamas, Arizona

☆ Sony’s $10 billion India media deal with Zee ends in ugly breakup
▼ + stars: | 2024-01-22 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN —A dramatic acquisition saga in one of the world’s fastest growing media industries is headed for a bitter ending. Sony Group (SONY) has called off the merger between its India unit and Mumbai-based Zee Entertainment, the Japanese company said on Monday. Sony’s move to end talks comes at a time when Disney (DIS) and Mukesh Ambani’s Reliance Industries are discussing combining their Indian media businesses. Zee “categorically denies all the assertions … including their claims for the termination fee,” the statement added. Prime Minister Narendra Modi’s government expects the nation to soon become the world’s third largest media and entertainment market, from fifth currently.

Persons: Sony’s, Mukesh Ambani’s, Zee, Punit Goenka, Zee “, Narendra Modi’s Organizations: New, New Delhi CNN, Sony Group, SONY, Zee Entertainment, Netflix, Disney, Mukesh Ambani’s Reliance Industries, Sony, Reuters, Zee, Reliance Locations: New Delhi, India, Mumbai

☆ Asian Games: South Korea's Esports stars target medal success -- and a military exemption
▼ + stars: | 2023-09-26 | by ( Yoonjung Seo | ) edition.cnn.com time to read: +15 min

For South Korean male participants, winning a gold medal in the Asian Games or Olympic Games not only brings honor but also grants them a military exemption. However, the mandatory duty can be waived for some athletes, in particular those who win an Olympic medal or a gold medal in the Asian Games. Seven games will be featured as official medal events at the 19th Asian Games, building on the success of the pilot event at the 2018 Jakarta-Palembang Games. The venue for the Asian Games esports competitions is state-of-the-art and an impressive sight to see. With its inclusion as an official Asian Games medal event, the possibility of esports becoming a part of the Olympic Games is a topic of growing debate.

Persons: Suga, Oh, Wang Zhao, Son Heung, ” Shin, ”, esports, ” Kim Sa, “, ” Lee Kyung, Kwak, hyouk, it’d, ” Kwak, Thailand’s Teedech, Lee Sang, –, Michael Chow, Yoonjung Seo, Michael Jordan, ” Chow, Faker, JUNG YEON, Philip Fong, Rowan Crothers, “ I’m, I’ll, ” Crothers, Jess Bolden, Chow, Niko, Young Organizations: CNN, Gaming, Hangzhou Asian Games, Asian Games, Games, BTS, Asian, Getty, Premier League soccer, Tottenham Hotspur, Marine Corps, Republic of Korea Marine Corps, “ Times, CNN Sport, FIFA, Hangzhou, South Korea, Believer Company, Riot, South, Team Korea, League, “ League, SK Telecom, Riot Games, Microsoft Studios, Xbox, Studios, International Federation of, Phonographic Industry, EA Sports FC Online, PUBG, of Valor, of, Olympic, International Olympic Committee, Maekyung Media, Paralympic, IOC, Kodikara, International Federations, Niko Partners Locations: South Korea, Hangzhou, AFP, Seogwipo, Jeju, Republic of, Seoul, esports, Jakarta, South, . South Korea, Palembang, Asia

IndyCar will return to the Milwaukee Mile next season and Texas Motor Speedway is off the calendar for the first time since 1997 in the 2024 schedule released Monday. NASCAR is expected to return to the oval, and IndyCar will race the Indianapolis road course only once — in May ahead of the Indianapolis 500. IndyCar is still finalizing an exhibition race to be held in Argentina next season that was not part of Monday's schedule announcement. Political Cartoons View All 1176 ImagesSebastien Bourdais won the final IndyCar race at the track in West Allis, Wisconsin. IndyCar is coming off its most-watched season on record with an average Total Audience Delivery of 1.32 million viewers.

Persons: Rodger Ward, Michael Andretti, Bobby Unser, Mario Andretti, A.J, Foyt, Gordon Johncock, Johnny Rutherford, Tom Sneva, Paul Tracy, Al Unser, Sebastien Bourdais, Roger Penske, Peacock, ”, Mark Miles Organizations: IndyCar, Milwaukee Mile, Texas Motor, NBC, Texas, NASCAR, Indianapolis Motor Speedway, Indianapolis, Milwaukee, Labor, Indianapolis Motor, Wisconsin, Fair, NBC Sports, Penske Entertainment Corp, USA, Motorsports Park, America, Speedway, International Raceway Locations: Southern California, Nashville, —, Argentina, West Allis , Wisconsin, Milwaukee, Wisconsin, St . Petersburg , Florida, Toronto, St . Petersburg, Long Beach, Detroit, Laguna Seca

☆ 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

☆ CNN shouldn't get a new CEO after the Licht debacle — here's what it needs instead
▼ + stars: | 2023-06-07 | by ( Alison Brower | ) www.businessinsider.com time to read: +4 min

Chris Licht's exit as CEO of CNN gives Warner Bros. Jeff Zucker, whose title was president, led CNN successfully — if not without controversy — for nine years. The CEO title didn't empower Licht, who was seen as executing Zaslav's vision, not his own. Without a CEO title. If Zaslav anoints a Licht replacement without the CEO title, even if the functions of the job don't change much, media observers will see it as a less lofty role.

Persons: Chris Licht's, Jeff Zucker, Licht, WBD, David Zaslav, that's, — Zucker, Zaslav, Zucker, David Leavy, should've, — Organizations: CNN, Warner Bros, CNN Worldwide, WarnerMedia News, Sports, Trump, Street Journal

Florida lawmakers passed legislation that ended Disney's virtual autonomy in central Florida where the Disney World theme parks attract millions of visitors each year. "Disney now is forced to defend itself against a State weaponizing its power to inflict political punishment," the company said. DeSantis has argued that Disney, which employs roughly 75,000 people in Florida, had been enjoying unfair advantages for decades. Carlos Curbelo, a former U.S. Republican congressman from Miami, said DeSantis' attacks on Disney "made sense for a time." Florida's new oversight body on Wednesday said Disney's plans for potential expansion of Disney World did not comply with state law, and declared that agreement void.

Florida lawmakers passed legislation that ended Disney's virtual autonomy in central Florida where the Disney World theme parks are located and attract millions of visitors each year. In the action filed in federal court in Tallahassee, Disney said it had no choice but to take legal action. DeSantis has argued that Disney, which employs roughly 75,000 people in the Florida, had been operating with unfair advantages for decades. Carlos Curbelo, a former U.S. Republican congressman from Miami, said DeSantis' attacks on Disney "made sense for a time." Florida's new oversight board on Wednesday said Disney's plans for potential expansion of Disney World did not comply with state law, and declared that agreement void.

Disney sued DeSantis on Wednesday to block a state law that created an oversight board that Disney said will interfere with billions of dollars of planned development. Disney alleges a law that imposed an oversight board was punishment for voicing opposition to DeSantis' classroom instruction law known as the Parental Rights in Education Act. The gender-education statute, derided by critics as the "Don't Say Gay" law, survived challenges in federal court before a different judge. Free speech has been central to several rulings by Walker against DeSantis, although the judge has also at times sided with the governor. Walker said Florida had become a place where the First Amendment allowed, rather than prevented, the state to limit speech.

April 26 (Reuters) - Walt Disney Co (DIS.N) sued Florida Republican Governor Ron DeSantis on Wednesday, asking a court to overturn state efforts to control the Walt Disney World theme parks and intensifying a battle between a global entertainment giant and a potential White House contender. A DeSantis spokesman called Disney's action "an unfortunate example of their hope to undermine the will of Florida voters." Disney also argues it was denied its First Amendment rights to free speech. State Republicans last year targeted Disney after it publicly clashed with DeSantis. But before the takeover by DeSantis' appointees, Disney pushed through changes to the special tax district agreement that limit the board's action for decades.

It plans to offer SM shareholders 150,000 won ($115) per share. The artists are represented by SM Entertainment, which is currently in the midst of several shareholder disputes. Kakao and its Kakao Entertainment unit already currently hold 4.9% of SM, the company told CNN in a statement Tuesday. Kakao’s gambleKakao is pressing forward nonetheless, inviting SM shareholders to accept its tender offer, which ends on March 26. Its shares closed 3% lower in Seoul on Tuesday, while SM’s shares soared 15%.

Disney issued a statement applauding Peltz's decision to end a board challenge which it called a "distraction. 'FIRST PHASE' IN DISNEY'S TRANSFORMATIONFor Peltz's Trian Fund Management the board challenge appears to have paid off with an estimated 20% gain on his investment. Analysts said Peltz made a reasonable request for one board seat and to join the 12-member board himself. Peltz appeared on CNBC on Thursday to announce his proxy fight with Disney was over. "Bob Iger has a long, strong track record which provides confidence he will manage this transition for Disney."

☆ How Netflix has changed the global entertainment industry
▼ + stars: | 2022-12-26 | by ( Ashley Rodriguez | Elaine Low | ) www.businessinsider.com time to read: +7 min

Since Netflix began its worldwide expansion in 2016, the streaming service has rewritten the playbook for global entertainment — from TV to film, and, more recently, video games. Still, Netflix's impact on the global TV industry is undeniable. More on Netflix's effect on global TV:The streamer's executive team was rebuilt with a global focusIn recent years, Netflix reoriented its leadership around its new global model. Peters also hired a new talent chief with international experience, former PepsiCo executive Sergio Ezama, to lead Netflix's global workforce. More on Netflix's corporate structure:Netflix has seen its first wide layoffs, though it continues to growThe corporate restructuring hasn't been without obstacles.

☆ The former CEO of WarnerMedia predicts only 3 major entertainment companies will survive in the streaming space
▼ + stars: | 2022-12-06 | by ( Travis Clark | ) www.businessinsider.com time to read: +4 min

Media exec Jason Kilar predicts only 3 entertainment companies will survive the streaming war. In a piece for The Wall Street Journal, Kilar predicted that only three of the global entertainment companies, not including tech giants Amazon and Apple, will come out of the "streaming war" unscathed. But based on Kilar's threshold, Disney is well-positioned to survive, with 235 million global subscribers across its services, 164 million of which belong to Disney+. Kilar added that "two or three major mergers and/or acquisitions" in the entertainment industry would occur in the next two years because of shifts in the streaming space. Former Disney CEO Bob Chapek, who was ousted last month, hinted in September that he'd want to integrate Hulu into Disney+ once the deal is complete, though it's unclear what returning CEO Bob Iger's plans are.

Now, Netflix is gunning for the last reel of the pay TV business: its estimated $153 billion pool of global advertising revenue. The company and some analysts see its new, cheaper ad-supported service, detailed in a rosy quarterly report on Tuesday, as a way to lift revenue as customers trim spending amid economic gloom. As TV's audience shrinks, it becomes less attractive for advertisers - and a plum target for Netflix to disrupt. Netflix plans to launch an ad-supported version of its service in the United States and 11 other countries in November. Some Wall Street analysts said the ad-supported version of the Netflix service might entice some price-sensitive existing subscribers to switch to the less-expensive option.

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