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☆ Warner Bros Discovery rolls out first HBO Max price hike in U.S.
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

Jan 12 (Reuters) - Warner Bros Discovery Inc (WBD.O) is raising HBO Max's ad-free subscription fee in the United States for the first time since the streaming service was launched in 2020, the TV network said on Thursday, sending its shares down 3%. HBO Max, which also has an ad-supported tier, faces pressure from slowing user growth and tight competition from larger rivals Netflix Inc (NFLX.O) and Walt Disney Co's (DIS.N) Disney+. Netflix and Disney had also raised prices for some of their streaming services last year. Warner Bros Discovery, formed last year by the merger of AT&T Inc's (T.N) WarnerMedia unit and Discovery Inc, is pushing for internal changes including plans to combine HBO Max and Discovery+. It also made both HBO Max and Discovery+ available on Amazon.com Inc's (AMZN.O) Prime Video platform in select markets.

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.

☆ Activist investor Peltz kicks off battle for Disney board seat
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

[1/2] Nelson Peltz founding partner of Trian Fund Management LP. The prominent activist investor's Trian Fund Management on Thursday filed documents with the U.S. securities regulator for his election as a director at Disney after the company denied him a board seat. "Peltz -- with a change-maker history at targets including P&G, Heinz, and Wendy's -- could provide a measure of that." Trian Fund Management owns roughly $900 million worth of Disney stock, which equates to about 0.5% stake, under the disclosure threshold of 5%. Sources familiar with Disney have said he has only leveled criticisms without offering possible solutions.

[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.

☆ At Walt Disney, the G in ESG stands for goofy
▼ + stars: | 2023-01-12 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

NEW YORK, Jan 12 (Reuters Breakingviews) - It’s sadly fitting that Walt Disney (DIS.N) persists with Mickey Mouse corporate governance. The $176 billion entertainment empire on Wednesday appointed Nike (NKE.N) Chairman Mark Parker to run its board, too. Parker, who has been a director at Disney since 2016, was around for all of it. Parker has been a Disney director since 2016, and he also serves as executive chairman of Nike. Disney also said that shareholder Trian Partners had nominated founding partner Nelson Peltz to serve on the company’s board.

☆ Disney asks employees to work from office four days a week - CNBC
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

Jan 9 (Reuters) - Walt Disney Co's (DIS.N) top boss Bob Iger told employees to return to corporate offices four days a week starting March 1, CNBC reported on Monday, citing an email. The entertainment giant did not immediately respond to a Reuters request for comment. The pandemic prompted companies across the world to turn to work-from-home or hybrid work models to prevent the spread of the virus. However, with the rise of vaccinations and fall in severe cases that require hospitalization, Disney's move mirrors other companies like Snap (SNAP.N), Tesla (TSLA.O) and Uber (UBER.N) in asking employees to return to office. read moreReporting by Eva Mathews in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ At CES 2023, Sony's 'Gran Turismo' flags new entertainment strategy
▼ + stars: | 2023-01-04 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +6 min

It also represents a significant bridging of the divides between Sony Pictures Entertainment, Sony PlayStation and Sony Music, according to a dozen current and former senior executives interviewed by Reuters. “I defined our identity as a creative entertainment company with a solid foundation on technology,” Sony chief executive Kenichiro Yoshida said. Sony’s “creative entertainment” company approach extends beyond content. A Sony-Honda electric vehicle, scheduled to reach consumers by 2026, is being framed as a rolling showcase of Sony’s entertainment, gaming and camera sensor prowess. This August will bring another test of Sony’s strategy when “Gran Turismo” hits theaters after languishing for 12 years.

☆ Breakingviews: Disney’s next 100 years hinges on a metaverse
▼ + stars: | 2023-01-03 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

Walt Disney (DIS.N) in October will celebrate its 100th anniversary. In the past century, the Magic Kingdom’s theme parks have survived technological forces. The idea expanded and now the company operates parks in Paris, Hong Kong, Shanghai, not to mention the Walt Disney World Resort in Orlando, Florida. The theme parks, and their related consumer products, are an increasingly important part of the company. In the year ending September 2018, the division had a chunky 25% operating margin and represented almost 40% of Disney’s total operating profit of $16 billion.

☆ Disney’s next 100 years hinges on a metaverse
▼ + stars: | 2023-01-03 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

Walt Disney (DIS.N) in October will celebrate its 100th anniversary. In the past century, the Magic Kingdom’s theme parks have survived technological forces. Taking the real Disneyland as a blueprint for the metaverse that marries its brand and streaming ambitions is not hard to fathom. The idea expanded and now the company operates parks in Paris, Hong Kong, Shanghai, not to mention the Walt Disney World Resort in Orlando, Florida. In the year ending September 2018, the division had a chunky 25% operating margin and represented almost 40% of Disney’s total operating profit of $16 billion.

☆ Sky spinoff is Comcast’s least-bad option
▼ + stars: | 2023-01-03 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

The boss of U.S. media giant Comcast (CMCSA.O) may want to make an exception for Sky. Including acquired debt, Roberts paid a multiple of 15 times Sky’s EBITDA to clinch the deal, two and a half times the company’s enterprise value before the takeover battle began. The financial consequences of Roberts’ determination became apparent in October when Comcast took a non-cash impairment charge of $8.6 billion related to Sky. Goldman Sachs analysts expect Sky to generate adjusted EBITDA of $2.1 billion in 2023, nearly one-third less than in 2019. Comcast said on Oct. 27 that it took a non-cash impairment charge of $8.6 billion related to Sky assets for the third quarter of 2022.

☆ Pioneering U.S. television journalist Barbara Walters dead at 93
▼ + stars: | 2022-12-31 | by ( Bill Trott | ) www.reuters.com time to read: +6 min

[1/2] Television personality Barbara Walters arrives for the premiere of the film "Wall Street: Money Never Sleeps" in New York September 20, 2010. "I asked Yeltsin if he drank too much, and I asked Putin if he killed anybody," Walters told the New York Times in 2013. "These two men were really quite brutal to me and it was not pleasant," Walters told the San Francisco Examiner. The New York Times called her "arguably America's best-known television personality" but also observed that "what we remember most about a Barbara Walters interview is Barbara Walters." Walters' three marriages - to businessman Robert Katz, theatrical producer Lee Guber and television executive Merv Adelson - ended in divorce.

☆ Boardrooms will rediscover the value of gray hair
▼ + stars: | 2022-12-29 | by ( John Foley | ) www.reuters.com time to read: +3 min

To firms keen to avoid repeating past mistakes, the graying of the Western workforce may not be a bad thing in 2023. The share of European over-55s in jobs grew to 20% in 2019, from 12% in 2014, according to official data. The typical incoming CEO is 55, a decade older than the average in 2005, according to Crist Kolder Associates. Money markets are pricing in U.S. rates of 5% by the summer. Financial markets will always love the next new thing, but for the time being, gray is good.

☆ 'Avatar' sequel opens shy of domestic box office projections
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: +1 min

LOS ANGELES, Dec 18 (Reuters) - "Avatar: The Way of Water," the expensive and long-delayed sequel to the highest-grossing film of all time, opened below box office forecasts with an estimated $134 million in U.S. and Canadian ticket sales. In overseas markets, "The Way of Water" added $301 million for a global total of roughly $435 million through Sunday, distributor Walt Disney Co (DIS.N) said. "The Way of Water" was released 13 years after the first installment wowed audiences with pioneering 3D technology. The original "Avatar" remains the all-time box office champion with $2.9 billion in global ticket sales. Reporting by Lisa Richwine; Editing by Lisa Shumaker and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ 'Avatar' sequel rings up $17 million in U.S. debut night
▼ + stars: | 2022-12-16 | by ( Lisa Richwine | ) www.reuters.com time to read: +2 min

[1/2] Director James Cameron arrives at the world premiere of 'Avatar: The Way of Water' in London, Britain December 6, 2022. REUTERS/Toby MelvilleLOS ANGELES, Dec 16 (Reuters) - Director James Cameron's long-awaited "Avatar: The Way of Water" pulled in $17 million at U.S. and Canadian box offices from its first showings on Thursday night, distributor Walt Disney Co (DIS.N) said. With international sales, the sequel to the highest-grossing movie of all time has generated $50.4 million at theaters around the globe since the movie started rolling out on Wednesday. The sequel should end the opening weekend with at least $140 million from domestic theaters, forecasters said. "The Way of Water" was released 13 years after the first film wowed audiences with pioneering 3D technology.

☆ 'Avatar' sequel earns film critics' praise for visual spectacle
▼ + stars: | 2022-12-13 | by ( Lisa Richwine | ) www.reuters.com time to read: +2 min

[1/2] Fans attend a premiere for the film Avatar: The Way of Water, at Dolby theatre in Los Angeles, California, U.S., December 12, 2022. REUTERS/Mario AnzuoniLOS ANGELES, Dec 13 (Reuters) - The long-awaited sequel to groundbreaking movie "Avatar" won praise on Tuesday from movie critics who said they were awed again by director James Cameron's visual artistry. The sequel offers more advanced 3D images, showcasing aquatic creatures on the lush moon of Pandora. "'Avatar: The Way of Water' is such a screen-popping visual feast it earns the 3-hour, 12-minute running time," said Richard Roeper of the Chicago Sun-Times. Studios split ticket sales with theaters, and Cameron told GQ magazine that "The Way of Water" will need to make $2 billion just to break even.

[1/4] Director James Cameron arrives at the world premiere of 'Avatar: The Way of Water' in London, Britain December 6, 2022. Hollywood's big question about "Avatar: The Way of Water" is whether the follow-up to the highest-grossing movie of all time can attract enough moviegoers to recoup its massive production and marketing costs. The 2009 movie remains the highest-grossing film in history with $2.9 billion in global ticket sales. Some disliked wearing 3D glasses, or objected to paying the 3D ticket surcharge. On opening weekend, Robbins predicts "The Way of Water" will rack up at least $150 million at domestic theaters.

☆ Disney+ streaming service launches with major advertisers
▼ + stars: | 2022-12-08 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +2 min

Dec 8 (Reuters) - The ad-supported version of the Disney+ service launched Thursday, attracting major advertisers from different sectors, bringing in new revenue as Walt Disney Co (DIS.N) strives to push its streaming business into profitability. The company is under pressure to turn a profit on its streaming business, which posted a $1.5 billon loss in the company's most recent quarter. The company's other streaming services, Hulu and ESPN+, already have commercials. A $3-a-month price increase also took effect Dec. 8, bringing the price for the ad-free version of Disney+ to $10.99. Other streaming services, such as HBO Max, Paramount+ and Peacock, also offer ad-supported versions of their streaming services, emulating the business model that has long supported the television business.

☆ Cameo launches Cameo Kids personalized videos with Candle Media
▼ + stars: | 2022-12-08 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +3 min

Dec 8 (Reuters) - Celebrity video messaging service Cameo said Thursday it has partnered with Candle Media to launch a new feature aimed at the playground set -- Cameo Kids. The service will offer personalized birthday and holiday video greetings from animated children's characters, including popular figures from Candle Media's Moonbug Entertainment's franchises "Blippi" and "CoComelon." Personalized messages for children expand the potential market for Cameo, which launched five years ago and allows athletes, celebrities and musicians to sell personalized videos to their fans. Cameo had experimented with offering children's content about a year ago, working with Mattel Inc's (MAT.O) 'Thomas the Tank Engine,' but its partnership with Candle Media helped elevate the experience, Galanis said. Blackstone-backed Candle Media spent months figuring out how to use its animated characters to deliver personalized video at scale.

☆ Citadel celebrates banner year at Disney as Wall Street nurses losses
▼ + stars: | 2022-12-06 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

NEW YORK, Dec 6 (Reuters) - For much of Wall Street, trading this year has been like riding a wild roller coaster. For thousands of employees of Citadel and Citadel Securities, the hedge fund and trading business founded by Ken Griffin, last weekend was spent riding the real things. This year is shaping up to be a record for Citadel and Citadel Securities, Ahmed confirmed. Across Wall Street, firms are preparing for leaner times by cutting jobs and bonuses, while many Americans are struggling with rising prices for food, gasoline and rents. After the 2008 financial crisis, Wall Street firms that were criticized for their excesses have sometimes shied away from lavish gatherings or held them in private.

☆ Citadel celebrates banner year at Disney while Wall Street nurses losses
▼ + stars: | 2022-12-06 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

NEW YORK, Dec 6 (Reuters) - For much of Wall Street, trading this year has been akin to riding a wild roller coaster. This year is shaping up to be a record for Citadel and Citadel Securities, the spokesman confirmed. The Citadel Global Fixed Income Fund is up 28.1% for the year, while Citadel Tactical Trading is up 22.4% and Citadel Equities Fund is up 17.8%, an investor said. Across Wall Street, firms are preparing for leaner times by cutting jobs and bonuses. After the 2008 financial crisis, Wall Street firms that were criticized for their excesses have sometimes shied away from lavish gatherings or held them in private.

☆ Disney’s board needs some magic
▼ + stars: | 2022-12-06 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

NEW YORK, Dec 6 (Reuters Breakingviews) - Bob Iger has a knack for head-faking his way out the door. Iger served as chief executive of the $175 billion media giant from 2005 until 2020. That stands in contrast to Netflix’s board, where more than half of the directors come from the entertainment sector including former Disney executive Anne Sweeney. Follow @jennifersaba on TwitterloadingCONTEXT NEWSWalt Disney on Nov. 20 said Bob Iger is returning as chief executive officer, effective immediately. Iger, 71, served as chief executive from 2005 until 2020.

☆ Disney Channel to be replaced in Russia by new 'Sun' TV channel
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

Dec 5 (Reuters) - Disney Channel will soon be replaced in Russia by a new children's TV station called "Solntse", Solntse's parent company Media1 said on Monday. Solntse, which means "sun" in Russian, will start broadcasting at 6 a.m. on Dec. 14 and air films, animations and "all-Russian" TV shows, it said. "The content on Solntse varies but it all has one thing in common: it provides a charge of positive energy and, most importantly, it will always be warm and fun on Solntse," Media1 said. "Now the sun will be available to Russian viewers 365 days a year, at least on our channel," Ruben Oganesyan, the channel's general producer said. Disney Channel, Russia's second highest rated children's TV station, is set to stop broadcasting after more than 12 years.

☆ Florida mulls U-turn on move to strip Disney theme-parks of self-governing status - FT
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

The new law would also mean that Disney would have to pay more taxes, state governor Ron DeSantis had said in April when he signed the bill. read moreThe state lawmakers are working on a compromise that would allow Disney to keep the arrangement largely in place with a few modifications, the FT reported. The bill signed in spring this year by governor Ron DeSantis eliminates special governing jurisdiction that allowed the company to operate Walt Disney World Resort as its own city. The bill to strip Disney of its self-governing authority was signed soon after and was seen as an attack on the company for its political stance. Representatives for Disney and Florida governor Ron DeSantis did not immediately respond to a Reuters request for comment.

☆ Disney buys MLB's stake in streaming firm BAMTech for $900 mln
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

Nov 29 (Reuters) - Walt Disney Co (DIS.N) disclosed on Tuesday that it has taken full control of BAMTech, a video-streaming firm spun off from Major League Baseball's digital media company MLB Advanced Media. Disney earlier this month purchased the remaining stake in BAMTech from Major League Baseball for $900 million, the company said in a SEC filing. Previous to the transaction, streaming technology services provider BAMTech was owned 85% by Disney and 15% by Major League Baseball (MLB). BAMTech provides the streaming platform for such entities as Worldwide Wrestling Entertainment and Warner Bros Discovery Inc's HBO. Streaming service provider Hulu is owned 67% by Disney and 33% by NBC Universal (NBCU).

☆ Disney warns restructuring could result in impairment charges
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

Nov 29 (Reuters) - Walt Disney Co (DIS.N) on Tuesday said it anticipates organizational and operational changes in the company that could result in impairment charges, according to a regulatory filing. The changes follow Bob Iger's return as Disney's chief executive officer. Disney said Iger's mandate is to put the company on the path for renewed growth. As he sets a strategic direction for the company, Disney said it anticipates changes in the coming months. The restructuring and change in business strategy, once determined, could result in impairment charges, the company said in its filing.

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