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Disney's future, a hot topic among Hollywood elite
  + stars: | 2023-08-14 | by ( Dawn Chmielewski | ) www.reuters.com   time to read: +5 min
[1/2] Executive Chairman of the Walt Disney Company, Bob Iger arrives at the world premiere for the film 'The King's Man' at Leicester Square in London, Britain December 6, 2021. REUTERS/Hannah McKay/File PhotoAug 14 (Reuters) - Hollywood's favorite parlor game of the week: What will Bob Iger do next? Another veteran media executive predicted Disney would spin off the television asset to its shareholders as a separate, publicly traded company by 2024, with private equity potentially playing a role. "You sell the parts, then sell what's left," said the veteran. Reporting by Dawn Chmielewski in Los Angeles; Editing by Kenneth Li and Richard ChangOur Standards: The Thomson Reuters Trust Principles.
Persons: Bob Iger, Hannah McKay, Walt Disney, Iger, Jeff Bewkes, what's, It's, Laura Martin, Dawn Chmielewski, Kenneth Li, Richard Chang Organizations: Walt Disney Company, Leicester Square, REUTERS, U.S ., Walt, CNBC, Reuters, ESPN, Disney, ABC, Disney Channel, NBA, Comcast, Hulu, Time Warner, Google, Facebook, Apple, Netflix, MGM, Needham, Thomson Locations: London, Britain, Culver City, New York City, U.S, Hulu, Hollywood, Los Angeles
Alex Iosilevich, Kevin Tsujihara, and Jeff Bewkes raised $360 million to invest in media, entertainment, and gaming. "Today it's television, tomorrow it's virtual reality," Alex Iosilevich, a longtime media banker and investor, told Insider. The trio announced April 27 that they raised $360 million for their first private equity fund to invest in media, entertainment, and gaming companies. Bewkes was chairman and CEO of Time Warner; he left as part of AT&T's 2016 acquisition of the company. With the market for subscription-based streaming services getting saturated, streaming companies will have to look more aggressively for new audiences through overseas expansion, ad-supported tiers, and new entertainment content.
Alex Iosilevich, Kevin Tsujihara, and Jeff Bewkes raised $360 million to invest in media, entertainment, and gaming. "Today it's television, tomorrow it's virtual reality," Alex Iosilevich, a longtime media banker and investor, told Insider. The trio announced April 27 that they raised $360 million for their first private equity fund to invest in media, entertainment, and gaming companies. And Iosilevich's resume includes more than a decade of media dealmaking at UBS, Deutsche Bank, and Barclays. With the market for subscription-based streaming services getting saturated, streaming companies will have to look more aggressively for new audiences through overseas expansion, ad-supported tiers, and new entertainment content.
The network has survived merger after merger with one of the mergers, AOL Time Warner, considered the worst deal in modern American corporate history. The birth of HBO coincided with the modernization of television across the United States with the emergence of cable in the 1960s and 70s. HBO debuted on November 8, 1972, and it was one of the first paid television networks with 344 total subscribers in Wilkes Barre, Pennsylvania. We're going to have to do original series," Bewkes told CNBC. The Time Warner era ushered in a multiplex model for HBO to reduce churn and debuted original programming "Dream On" and "The Larry Sanders Show."
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Time Warner Chief Jeff Bewkes: How HBO revolutionized televisionHBO has often been credited for having revolutionized television. Since its early days, the value proposition was clear by offering viewers what they couldn't find anywhere else: uncensored movies, comedy, boxing matches and music concerts. But original content came from a necessity: to compete with Blockbuster. CNBC's Alexander Sherman spoke with Jeff Bewkes, former CEO of HBO and later Time Warner.
What's less known is it was also the catalyst for HBO's pivot toward original programming, according to former HBO and Time Warner CEO Jeff Bewkes. HBO, at the time led by Michael Fuchs, decided the answer was original programming. Source: HBO | YouTubeEven after "The Sopranos" debuted, HBO still faced a dilemma over how much to invest in original shows. HBO's TV schedule was always shifting, based on the length of feature films. Had HBO's early investments in original programming not hit, Bewkes acknowledged he's not sure what HBO would have done to fight off Blockbuster.
One of the really interesting questions here – this will be fascinating – the core of linear TV is sports rights. When you look at the size and scope of the linear TV business, it's huge. Patrick T. Fallon | Afp | Getty ImagesByron Allen, Entertainment Studios founder and CEO: I think linear TV will exist for a very, very long time. Simmons: I believe Apple, out of nowhere, will start making their own awesome televisions that have Apple TV embedded in them. We are witnessing early stages of this dynamic with deals like "NFL Sunday Ticket" on YouTube and the MLS deal with Apple TV.
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