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☆ Morning Bid: Congress unswept, crypto a mess
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike Dolan. Incumbent Democrats enjoyed a stronger-than-expected showing, with a chance of retaining the Senate, limiting expected losses in the House of Representatives and taking important governors' races. Regardless of the poll results, problems in the crypto world deepened amid fears of widespread contagion and selling following the near collapse of a major exchange on Tuesday. Perhaps partly related to the crypto shakeout, shares in Tesla (TSLA.O) dropped as much as 5% on Tuesday after filings showed owner Elon Musk sold almost $4 billion Tesla shares before his Twitter takeover. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Nov 8 (Reuters) - Walt Disney Co (DIS.N) said on Tuesday its marquee streaming service, Disney+, gained more subscribers than Wall Street had expected, but investment costs dragged quarterly earnings below analysts' targets. Disney is spending billions to build its streaming options and compete with Netflix Inc (NFLX.O) and others. Disney+ reported 164.2 million subscribers in the fiscal fourth quarter, surpassing Factset estimates of 161 million. Disney has amassed 235 million subscriptions across Disney+, Hulu and ESPN+ streaming services, a gain of 14.6 million from the previous quarter. For the fiscal year, Disney reported per-share earnings of $3.53, excluding certain items, on revenues of $82.7 billion.

☆ Netflix explores investing in live sports, bids for streaming rights- WSJ
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

Nov 8 (Reuters) - Netflix Inc (NFLX.O) is exploring investments in live sports broadcasting and has recently bid for the streaming rights for sports leagues, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The company recently bid for the streaming rights for the ATP tennis tour for some European countries, including France and the U.K., but dropped out, the report said. The company also discussed bidding for other events, including U.K. rights to the Women's Tennis Association and cycling competitions, and was in talks late last year to acquire the World Surf League, the WSJ said. Streaming platforms are also looking at live sports to gain market share in an already saturated market. read moreReporting by Shreyaa Narayanan and Vansh Agarwal in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Disney will solve its Netflix problem
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Nov 8 (Reuters Breakingviews) - Walt Disney (DIS.N) boss Bob Chapek is knee-deep in the video-streaming money pit. New subscribers keep signing up, too: Disney+ counts 164 million, a 39% jump from 12 months earlier. With investors now prioritizing costs over growth, however, Disney shares fell 10% in after-hours trading. Netflix generated $5 billion of operating profit over the first nine months of 2022. If the Netflix enterprise commands 18 times expected EBITDA, per Refinitiv data, Disney will find enough fairy dust to warrant a multiple higher than 12 times.

☆ Comedian Jimmy Kimmel to return as Oscars host in 2023
▼ + stars: | 2022-11-07 | by ( Rami Ayyub | ) www.reuters.com time to read: +2 min

Nov 7 (Reuters) - Late-night talk show host Jimmy Kimmel will host the 2023 Oscars ceremony, organizers said on Monday, choosing a veteran emcee for Hollywood's most prestigious showcase a year after actor Will Smith upended the event by slapping presenter Chris Rock. But video of Smith slapping Rock's face on stage after the comedian made a joke about the actor's wife was shared widely on social media and dominated news headlines for days. "Being invited to host the Oscars for a third time is either a great honor or a trap," Kimmel said in a statement. "Jimmy is the perfect host to help us recognize the incredible artists and films of our 95th Oscars," Academy CEO Bill Kramer and Academy President Janet Yang said in a statement. He is banned from attending the Oscars for 10 years, but is still eligible to be nominated and win.

WASHINGTON, Nov 7 (Reuters) - A U.S. judge cited negative impacts on top-selling authors in blocking a planned $2.2 billion merger of Penguin Random House, the world's largest book publisher, and rival Simon & Schuster, according to a written opinion released Monday. Penguin is owned by German media group Bertelsmann SE & Co (BTGGg.F) while Paramount Global (PARA.O) owns Simon & Schuster. Pan said those best-selling authors "have fewer outlets that can satisfy their requirements, and therefore are vulnerable to anticompetitive behavior." Penguin writers include cookbook author Ina Garten and novelists Zadie Smith and Danielle Steele, while Simon & Schuster publishes Stephen King, Jennifer Weiner and Hillary Rodham Clinton, among others. The top five publishers are Penguin Random House, HarperCollins, Macmillan, Simon & Schuster and Hachette, with Walt Disney Co (DIS.N) and Amazon.com Inc (AMZN.O) also in the market.

☆ Factbox: Corporate America lays off thousands as recession worries mount
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +7 min

DoorDash Inc (DASH.N):The food delivery firm, which enjoyed a growth surge during the pandemic, said it was reducing its corporate headcount by about 1,250 employees. Twitter Inc:The social media company laid off half its workforce across teams ranging from communications and content curation to product and engineering following Elon Musk's $44 billion takeover. Chime Financial Inc:The online banking firm has laid off 12% of its employees, or about 160 jobs, a spokesperson said. Coinbase Global (COIN.O):The cryptocurrency exchange said it planned to cut over 60 jobs, in its recruiting and institutional onboarding teams. CNN:Warner Bros Discovery-owned (WBD.O) CNN's top boss Chris Licht informed employees in an all-staff memo that job cuts were underway.

☆ Women lead Wakanda through turmoil in 'Black Panther' sequel
▼ + stars: | 2022-11-07 | by ( Lisa Richwine | ) www.reuters.com time to read: +3 min

LOS ANGELES, Nov 7 (Reuters) - At the start of the follow-up to 2018's groundbreaking Marvel movie "Black Panther," the kingdom of Wakanda is reeling. The beloved King T'Challa dies at the opening of "Black Panther: Wakanda Forever," a script change made after actor Chadwick Boseman passed away from cancer in 2020 just before the sequel was due to start filming. "T'Challa surrounded himself with powerful women," actor Letitia Wright said in an interview ahead of the movie's global rollout that starts on Wednesday. "We see these women in this film step into another level of leadership, together." "Black Panther" broke ground as the first superhero movie with a predominantly Black cast.

☆ For your consideration: Warner-Discovery part two
▼ + stars: | 2022-11-03 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

The Warner Bros Discovery (WBD.O) boss has encountered a series of problems since his splashy merger in April. A giant pile of borrowed money used to help cover the cash outlay to AT&T (T.N) for Warner Media looms large. Warner Bros Discovery counts more than 90 million subscribers for services such as HBO Max, less than half as many as at Disney and Netflix. There might be another $3 billion in savings, using the same 20% of EBITDA targeted by Warner Media and Discovery. Its shares have fallen about 48%, to nearly $12 apiece, since the merger of Discovery with AT&T’s Warner Media on April 8.

As recently as August, Lachlan Murdoch described sports betting as "a huge opportunity" for Fox Sports, telling Wall Street it would fuel viewer engagement. The sports betting app Fox Bet is available in four states, with just 0.2% share of the U.S. market, according to researcher Vixio. A free version called Fox Bet Super 6 has attracted some 6 million users whom Fox hopes to eventually convert to gamblers. The growth of Fox Bet has stagnated since market-leading FanDuel's owner, Flutter Entertainment Plc (FLTRF.L), acquired Stars Group in 2020. The matter is the subject of an arbitration case and Lachlan Murdoch told investors a decision is expected imminently.

☆ Disney to test early merchandise access for U.S. Disney+ customers
▼ + stars: | 2022-11-01 | by ( Lisa Richwine | ) www.reuters.com time to read: +1 min

The company described the offering as a limited test of an additional benefit for streaming customers looking to grab coveted products created for the holiday shopping season. Disney, Netflix Inc (NFLX.O) and other companies are working to attract streaming customers amid growing competition for online viewers. Viewers can reach the page via QR codes under "Shop this Story" on the Disney+ page for a specific series or movie. A shop tab will appear on Disney+ primary profiles for U.S. subscribers 18 and older, the company said. U.S. Disney+ customers also will have the option to buy exclusive "Frozen 2" and "Lightyear" products.

☆ EA to develop three Marvel games, beginning with Iron Man
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +1 min

[1/4] A life size "Iron Man" is on display in the Marvel booth at the 39th annual Comic Con Convention in San Diego July 24, 2008. REUTERS/Mike BlakeOct 31 (Reuters) - Electronic Arts Inc (EA.O) will launch an Iron Man game and at least two other action-adventure titles revolving around characters from the Marvel universe, under a deal announced by the videogame publisher on Monday. EA has previously partnered with Marvel owner Walt Disney Co (DIS.N) to develop games based on the Star Wars movie franchise for mobile devices, PCs and consoles. Activision Blizzard (ATVI.O) has launched games on Spider-Man, while Warner Bros Interactive Entertainment developed games based on DC's Batman. EA's bet on its new games comes as the videogame publisher struggles with a slowdown in demand from peaks touched during the pandemic.

☆ Bidens celebrate their first Halloween at the White House
▼ + stars: | 2022-10-31 | by ( Steve Holland | ) www.reuters.com time to read: +2 min

[1/4] U.S. President Joe Biden and first lady Jill Biden distribute Halloween candy to visiting children at the South Portico of the White House in Washington, U.S., October 31, 2022. REUTERS/Leah MillisWASHINGTON, Oct 31 (Reuters) - President Joe Biden and first lady Jill Biden welcomed trick-or-treaters to the White House to celebrate Halloween on Monday, their first time hosting such a celebration since taking office. Treats were also distributed by representatives from the Department of Education, Department of Transportation, NASA, United States Secret Service, Peace Corps, White House Fire Brigade and White House staff among others. The South Portico of the White House was decorated with fall colors, pumpkins, various shades of autumn, and songs such as "Ring of Fire," "Psycho" and "Hall of the Mountain King" set the mood. Halloween has been celebrated at the White House since the mid-20th century, according to the White House Historical Association.

WASHINGTON, Oct 31 (Reuters) - A planned $2.2 billion merger of Penguin Random House, the world's largest book publisher, and rival Simon & Schuster cannot go forward, a U.S. judge ruled on Monday. Unlike most merger fights, which are focused on what consumers pay, this one focused on authors' earnings. Penguin writers include cookbook author Ina Garten and novelists Zadie Smith and Danielle Steele, while Simon & Schuster publishes Stephen King, Jennifer Weiner and Hillary Rodham Clinton, among others. Penguin is owned by German media group Bertelsmann SE & Co (BTGGg.F) while Paramount Global (PARA.O) owns Simon & Schuster. The top five publishers are Penguin Random House, HarperCollins, Macmillan, Simon & Schuster and Hachette, with Walt Disney Co (DIS.N) and Amazon.com Inc (AMZN.O) also in the market.

☆ Disney CEO, asked if company is 'too woke,' says it will cater to audience
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: 1 min

LOS ANGELES, Oct 26 (Reuters) - Walt Disney Co (DIS.N) Chief Executive Bob Chapek, asked to address criticism the company had become "too woke," said on Wednesday that its programming will cater to the audience and reflect the "rich, diverse" world of viewers. "The world is a rich, diverse place, and we want our content to reflect that," Chapek said at the Wall Street Journal Tech Live conference. Reporting by Lisa Richwine and Dawn Chmielewski; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

"That probably won't be coming until we start to see some weakness in the labor market, which is helping fuel inflation pressures." Apple Inc (AAPL.O) fell 1.3% in premarket trading after a report of iPhone 14 Plus production cut within weeks of starting shipments. Other growth stocks including Tesla Inc (TSLA.O), Amazon.com (AMZN.O), Microsoft Corp (MSFT.O) and Alphabet Inc (GOOGL.O) fell between 0.1% and 0.2%. ET, Dow e-minis were down 134 points, or 0.44%, S&P 500 e-minis were down 21 points, or 0.56%, and Nasdaq 100 e-minis were down 57.25 points, or 0.51%. United Airlines Holdings Inc (UAL.O) jumped 5.8% as the U.S. carrier posted its strongest quarterly earnings in three years.

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.

From July through September, Netflix attracted 2.4 million new subscribers worldwide, more than double the 1.07 million consensus forecast of analysts polled by Refinitiv. Netflix now has a total of 223.1 million subscribers around the world. For the third quarter, Netflix topped Wall Street projections with revenue of $7.9 billion, up 6% from a year earlier. The company's forecast of 4.5 million customer pickups by the end of 2022 came in slightly ahead of Wall Street estimates, which had averaged 4.2 million. For the fourth quarter, Netflix is projecting revenue of $7.8 billion -- a sequential decline it blamed on the strong value of the U.S. dollar.

☆ U.S. Speaker Pelosi's husband sold Nvidia, Micron options at a loss
▼ + stars: | 2022-10-17 | by ( Noel Randewich | ) www.reuters.com time to read: +2 min

Speaker of the House Nancy Pelosi (D-CA) and her husband Paul Pelosi arrive for the 42nd Annual Kennedy Awards Honors in Washington, U.S., December 8, 2019. REUTERS/Joshua RobertsOct 17 (Reuters) - U.S. House Speaker Nancy Pelosi's husband sold call options in chipmakers Micron Technology (MU.O) and Nvidia (NVDA.O) for a loss of under $1 million, according to a new transparency filing. The report also showed he sold Nvidia call options bought in July 2021 for a loss of $361,476. Register now for FREE unlimited access to Reuters.com RegisterAll of those events occurred on Sept. 16, according to the transaction report. In July, Paul Pelosi sold Nvidia shares days before the House approved legislation providing subsidies and tax credits worth over $70 billion to boost the U.S. semiconductor industry.

☆ Rupert Murdoch’s odd reunion simplifies succession
▼ + stars: | 2022-10-17 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

NEW YORK, Oct 17 (Reuters Breakingviews) - Rupert Murdoch is seeking to stitch his empire back together again. The media mogul’s family trust wants to reunite News Corp (NWSA.O) and Fox (FOXA.O) almost a decade after they split. The boards of News Corp and Fox said Friday they had formed special independent committees to explore a potential merger. Rupert Murdoch and his family trust control approximately 42% of voting shares in Fox and 39% of voting shares in News Corp. The companies split in 2013.

Oct 14 (Reuters) - Rupert Murdoch started a process that could reunite his media empire, News Corp (NWSA.O) and Fox Corp (FOXA.O) disclosed on Friday, saying they would consider combining at his behest, nearly a decade after the companies split. If a deal goes through, the combination will allow Murdoch greater control over his media assets and help the companies trim costs. Media companies are fighting decades-low growth in advertising sales and for users' attention against deep-pocketed social media and content websites. It make sense, in this context, to reunite Fox and News Corp to create a company with complementary assets and greater scale, the person familiar with the proposal said. His son Lachlan Murdoch is chairman and CEO of Fox Corp.As of market-close on Friday, News Corp had a market cap of $9.31 billion and Fox Corp was $16.84 billion, according to Refinitiv.

☆ Bad Bunny dominates American Music Award nominations
▼ + stars: | 2022-10-13 | by ( Lisa Richwine | ) www.reuters.com time to read: +2 min

Bad Bunny performs during his World's Hottest Tour at SoFi Stadium in Inglewood, California, U.S., September 30, 2022. Bad Bunny received a total of eight AMA nominations and will compete for artist of the year against British singers Adele and Harry Styles and Canadian musician The Weeknd. Bad Bunny's other nods included favorite male pop artist, favorite music video and favorite touring artist. If Bad Bunny wins all eight awards he is eligible for, he would tie 1980s superstars Michael Jackson and Whitney Houston for the most AMA wins in a single year. In country music categories, Chris Stapleton, Luke Combs and Morgan Wallen are among the nominees for favorite male country artist.

☆ Disney pushes back several Marvel movie release dates
▼ + stars: | 2022-10-11 | by ( Danielle Broadway | ) www.reuters.com time to read: +2 min

Oct 11 (Reuters) - Walt Disney Co (DIS.N) announced on Tuesday it will be pushing back the release dates for numerous upcoming Marvel films including, "Blade," "Fantastic Four" and "Avengers: Secret Wars." Following "Blade" director Bassam Tariq's departure from the project in September due to scheduling conflicts, Marvel has decided to temporarily shut down production of the film to search for a new director. "Blade" is now slated to premiere on Sept. 6, 2024 instead of Nov. 3, 2023, which has impacted the rest of the studios' production scheduling. The Marvel Blade character who first appeared in comic book "The Tomb of Dracula," written by Marv Wolfman in 1973 eventually had his own storyline that was later adapted into the Wesley Snipes film trilogy which includes, "Blade," "Blade II" and "Blade Trinity.”Throughout the Marvel Cinematic Multiverse, stories have been intertwined and a significant delay from one film often impacts the slate for others. Register now for FREE unlimited access to Reuters.com RegisterReporting by Danielle Broadway; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ Airlines cancel 2,000 U.S. flights for Thursday
▼ + stars: | 2022-09-29 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Sept 28 (Reuters) - Airlines canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years. Since Tuesday airlines have canceled more than 5,000 flights through Friday. Airlines canceled 2,163 flights Wednesday as a number of Florida airports temporarily halted operations, including Tampa, Orlando, Sarasota-Bradenton, Melbourne, Daytona Beach, Naples and St Petersburg/Clearwater. Airlines canceled 403 flights Tuesday ahead of the storm. Through Wednesday, JetBlue canceled 25% of its U.S. flights and 20% of Thursday flights, while Southwest canceled 13% of Wednesday flights and 9% for Thursday.

"Either Twitter is going to fix this, or we'll fix it by any means we can, which includes not buying Twitter ads." Twitter's challenges in identifying child abuse content were first reported in an investigation by tech news site The Verge in late August. Like all social media platforms, Twitter bans depictions of child sexual exploitation, which are illegal in most countries. Ghost Data identified the more than 500 accounts that openly shared or requested child sexual abuse material over a 20-day period this month. Twitter suspended over 1 million accounts last year for child exploitation material, according to the company's transparency reports.

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