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☆ It's judgment day: Shocking exits of Tucker Carlson, Don Lemon, and Jeff Shell rock the TV industry
▼ + stars: | 2023-04-24 | by ( Nathan Mcalone | ) www.businessinsider.com time to read: +5 min

NBCU CEO Jeff Shell, Fox News' Tucker Carlson, and CNN's Don Lemon are all out. Shell's bombshell exit took many insiders by surprise, Insider's Claire Atkinson reported on Sunday. Fox News declined to comment beyond its press release saying it had agreed to "part ways" with Carlson. Media watchers had been primed for a Lemon exit for weeks. With all the news of the past 24 hours, media insiders have barely even gotten a chance to drill down into the second wave of layoffs at Disney, which will number in the thousands.

☆ Disney begins the second round of 7,000 planned job cuts — targeting ESPN, theme parks, entertainment, and more
▼ + stars: | 2023-04-24 | by ( Nathan Mcalone | ) www.businessinsider.com time to read: +3 min

Disney is starting the second round of its planned cuts on Monday, with divisions like ESPN getting hit, the company confirmed to Insider. Disney told The Wall Street Journal that several thousand employees would lose their jobs this week at divisions across the company, spanning from entertainment to theme parks. Disney does not expect hourly frontline operations roles at its parks and resorts to be impacted, the company told Insider. "When [Iger] was last at the helm, money was practically free," Mike Bloxham, EVP global media and entertainment at consultants Magid, previously told Insider. The company also created a new finance team pulling together staff from Disney Entertainment and ESPN, Insider reported Friday.

☆ NBCUniversal CEO Jeff Shell exits after an 'inappropriate relationship,' shocking insiders, and Comcast won't rush to replace him as corporate exec Mike Cavanagh steps up
▼ + stars: | 2023-04-24 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +5 min

NBCUniversal CEO Jeff Shell's exit shocked company insiders and all of Hollywood. NBCUniversal CEO Jeff Shell's bombshell departure on Sunday night was a surprise to the well-regarded executive and also to his closest colleagues. Deadline reported that Shell's relationship was with CNBC's senior international correspondent, Hadley Gamble, which lasted 11 years but had ended a couple of years ago. "Comcast is as buttoned-up and straight as ever — this is a black eye for Brian Roberts," the Comcast CEO. A second company insider, however, said that Cavanagh is expected to remain in the role for some time.

☆ Leaked memo reveals Disney's new finance structure as more layoffs loom, with a reported 15% of entertainment staffers to be cut
▼ + stars: | 2023-04-22 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +8 min

Disney's chief financial officer, Christine McCarthy, named a new finance team pulling together staff from both Disney Entertainment and ESPN. McCarthy shared the details with staff this week, naming Bryan Castellani as the new chief financial officer of Disney Entertainment and ESPN. Under Castellani, Lukas Wickart will continue to oversee finance for direct-to-consumer streaming business Disney+, ESPN+, Hulu, and Star. Karen Sack will oversee finance for our entertainment television businesses, including TV studios and ABC News finance, marketing, and networks planning. Jeff Grenn will oversee segment consolidation for Disney Entertainment, and finance in support of Aaron LaBerge's technology organization across Disney Entertainment and ESPN.

☆ We mapped out the 113 most powerful people at Warner Bros. Discovery after a blockbuster merger and a tumultuous year of layoffs and cuts under CEO David Zaslav
▼ + stars: | 2023-04-20 | by ( Claire Atkinson | Lucia Moses | Taylor Tyson | ) www.businessinsider.com time to read: +2 min

Warner Bros. CEO David Zaslav is focused on rebuilding but faces economic headwinds and an advertising slump. Insider mapped out the 112 most powerful people under Zaslav leading WBD film and TV studios, HBO, CNN, and more. One year after the merger that created Warner Bros. While Kathleen Finch has joined the mix with her portfolio of Discovery channels, top TV execs from the WarnerMedia regime — HBO's Casey Bloys and Warner Bros. TV studios chief Channing Dungey — are still in place.

Fox agreed to a $787.5 million settlement with Dominion Voting Systems on Tuesday. But a senior media executive told Insider that insurance typically handles these types of payments. Fox Corp. had nearly $4.1 billion of cash on hand, according to comments made in February by company CEO Lachlan Murdoch. Fox Corp., which also owns assets such as the broadcast network and streamer Tubi, has a market capitalization of $17.61 billion as of Tuesday. In 2017, Fox also agreed to a $90 million "derivatives" settlement against company officers over sexual harassment issues at Fox News, according to Reuters.

☆ CNN is axing Laura Coates' 11 p.m. anchor slot to save on costs, according to sources, and insiders are concerned about on-air representation
▼ + stars: | 2023-04-18 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +6 min

CNN is still shifting its late night lineup, and Laura Coates will no longer anchor solo at 11 p.m.Coates is said to be "stunned" and "disappointed" by losing the opportunity. On paper, Coates would seem like the ideal figure to fill the network's 11 p.m. slot, particularly as CNN already shared a press release about her appointment to the role in January. CNN and news industry insiders who commented for this story spoke on the condition of anonymity because they're not authorized to speak to the press. "They pulled her off to save money," said one person familiar with internal conversations at CNN. The network's only Black solo anchors now are Abby Phillip, who helms the high-profile "Inside Politics Sunday," and Fredricka Whitfield, who also hosts a weekend show.

☆ Disney CEO Bob Iger says his return to company was inspired by Steve Jobs' Apple homecoming, and comebacks need 'unbelievable enthusiasm'
▼ + stars: | 2023-04-14 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Bob Iger returned to the helm of Disney last November, less than a year after he retired. He told Time he's looking to Steve Jobs' Apple homecoming for inspiration. Iger said such comebacks need "incredible resolve, incredible zeal, and incredible energy." Disney CEO Bob Iger said his return to the media giant is inspired by Steve Jobs' 1997 Apple homecoming, in an interview with Time magazine. "And then go at it with incredible resolve, incredible zeal, and incredible energy."

☆ CNN insiders say CEO Chris Licht is standing behind star anchor Don Lemon after reported allegations of misogyny
▼ + stars: | 2023-04-07 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +6 min

CNN is responding to a Variety article accusing Don Lemon of misogyny and other problematic behavior. "CNN This Morning," which Lemon hosts with Poppy Harlow and Kaitlan Collins, was launched in November, part of a bet by CNN parent Warner Bros. "CNN This Morning" averaged 359,000 viewers in the first quarter, or when the HLN simulcast is included, 438,000 viewers. Collins, meanwhile is getting a new primetime slot on CNN, the network confirmed to the New York Post. Lemon had suggested on "CNN This Morning" that Nikki Haley was not a viable presidential candidate because she "isn't in her prime."

☆ Inside Disney it's 'Revenge of the Creatives' and 'Shields Up!' against outside foes as returned CEO Bob Iger is taking no prisoners
▼ + stars: | 2023-04-07 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +12 min

Since returning as Disney CEO, Bob Iger has vanquished foes and dumped many of predecessor Bob Chapek's hires. But it's a supercharged Bob Iger who is really taking command. "If I'm inside Bob's head coming back, after the downfall of Bob Chapek, this is all about taking no prisoners," said Will Schutte, a high-level executive coach. Disney World is scheduled to host a major conference on gay rights in September, according to the Miami Herald. Even if he wants to be the Bob Iger of old he can't be.

☆ CNN staffers are divided after a bombshell report accuses Don Lemon of misogyny. Insiders say it's 'another shit show' for network chief Chris Licht.
▼ + stars: | 2023-04-06 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +5 min

CNN is responding to a Variety article accusing Don Lemon of misogyny and other problematic behavior. CNN is defending Don Lemon after a bombshell report by Variety about the network's star, while insiders are speculating about his ability to survive the latest blow. "CNN This Morning," which Lemon hosts with Poppy Harlow, and Kaitlan Collins, was launched in November, part of a bet by CNN parent Warner Bros. "CNN This Morning" averaged 359,000 viewers in the first quarter, or when the HLN simulcast is included, 438,000 viewers. Lemon had suggested on "CNN This Morning" that Nikki Haley was not a viable presidential candidate because she "isn't in her prime."

☆ The New York Sun hires former News Corp. exec and MailOnline boss Noah Kotch
▼ + stars: | 2023-04-05 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +2 min

The New York Sun has hired online and television news veteran Noah Kotch as managing editor. Kotch will work with editor Seth Lipsky to grow the newsroom and find new audiences. The New York Sun, a conservative-leaning online newspaper, has hired former top News Corp. executive Noah Kotch as managing editor, the company confirmed. Kotch was most recently general manager at News Corp., where he worked on projects such as AI-powered news aggregator Knewz. In a brief phone interview Efune said The New York Sun is about "principle over politics and people over party."

☆ Saudi money is flowing to US media and entertainment, from Live Nation to LIV Golf, 5 years after Jamal Khashoggi's murder: 'The ice has thawed'
▼ + stars: | 2023-04-03 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +20 min

Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment. Insider identified some key people connecting Middle East investors with American companies. Saudi Arabia is trying to pitch itself to the world as a cultural and economic reformer and spur tourism. Vince McMahon's WWE has a long-term partnership with the Kingdom of Saudi Arabia, with a major live WWE event there slated for May. Vince McMahon's WWE was one of the first US companies to create unique events in Saudi Arabia.

☆ 9 Middle Eastern funds and investors pouring money into US media, sports, and entertainment
▼ + stars: | 2023-04-03 | by ( Lucia Moses | Claire Atkinson | ) www.businessinsider.com time to read: +9 min

Governments and investors in the Middle East 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.

☆ Disney's shareholder meeting: Here's what's on the table
▼ + stars: | 2023-04-03 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDisney's shareholder meeting: Here's what's on the tableClaire Atkinson, Insider chief media correspondent, joins 'Squawk Box' to discuss Disney's upcoming annual shareholder meeting, if Bog Iger will honor his deadline for leaving Disney, and more.

☆ ABC News staffers were stunned at the departures of veteran colleagues and 'outraged' about how the exits were handled
▼ + stars: | 2023-04-01 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +6 min

Some ABC News staff were in tears on Thursday after layoffs of respected news veterans. Kim Godwin has made positive changes as ABC News president and has faced a string of complex situations. ABC News staffers are in shock over the departure of multiple senior-level colleagues, most notably Wendy Fisher, SVP news gathering. ABC News alone lost 50 staffers on Thursday as part of the slim-down and a leadership reorganization by division President Kim Godwin. A second ABC News insider said it was unprecedented to dismiss longtime veterans in such a manner.

☆ Disney layoffs are expected to hit ABC News this week, sources say, with scores of roles to be eliminated following cuts from TV, engineering, and metaverse teams
▼ + stars: | 2023-03-29 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +5 min

Cuts at Disney's ABC News are coming before the end of the week, according to sources. Disney firings are expected to affect its ABC News division this week, according to two company insiders familiar with the situation. TV production and acquisition execs at Hulu, Freeform, and 20th Television were also impacted, according to a report in Deadline. Leaders will be communicating the news directly to the first group of impacted employees over the next four days. I want to thank each of you again for all your many achievements here at The Walt Disney Company.

☆ Disney is ditching its metaverse plans after laying off an entire team focused on interactive storytelling, report says
▼ + stars: | 2023-03-28 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Disney laid off its entire metaverse team, which included around 50 people, in recent cuts. It's the latest firm to abandon its metaverse ambitions, despite assembling a team just a year ago. The company recently announced plans to lay off 7,000 people in a major cost-cutting effort. White's team was responsible for exploring ways of interactive storytelling through new technological formats. Now, Disney managers are under pressure to identify employees to layoffs and areas where they can reduce budget, a person familiar with the company told Insider's Claire Atkinson earlier in March.

☆ Disney executives are being directed to identify thousands of layoff candidates and propose other budget cuts by April
▼ + stars: | 2023-03-21 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +4 min

Bob Iger is on a push for profitability at Disney and announced plans to cut 7,000 positions. Managers must identify candidates for layoffs by April, according to a source close to Disney. Disney bean counters have been looking carefully across the company in an attempt to find redundancies and eliminate executives where they can. Earlier this month, Disney announced that top human resources executive Paul Richardson would exit. In February Iger announced a restructure of Disney into three divisions: Entertainment, ESPN, and Parks, Experiences and Products.

☆ Inside the demise of Vice, from turning away a $3.5 billion Disney offer to a 'painful' downward spiral that has the media giant scrambling for a buyer
▼ + stars: | 2023-03-21 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +19 min

The talks fizzled, Disney backed off, and Smith set off for California to drum up other interest in Vice Media. Vice Media Group co-CEOs Bruce Dixon, left, and Hozefa Lokhandwala. Vice Media GroupOne former Vice insider familiar with the current situation told Insider that staffers were warning vendors they needed to threaten to stop work in order to get paid. Just a few months later, Rupert Murdoch tweeted, "Who's heard of Vice Media? Refinery29 quickly lost key staff and was not well integrated into Vice Media, the two former staffers said.

☆ Disney executives are being directed to identify thousands of layoff candidates by April as CEO Bob Iger targets $5.5 billion in spending cuts
▼ + stars: | 2023-03-17 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +3 min

Bob Iger is on a push for profitability at Disney and announced plans to cut 7,000 positions. Layoffs will impact about 4,000 employees, with the rest of the cuts coming from open roles. Disney bean counters have been looking carefully across the company in an attempt to find redundancies and eliminate executives where they can. Disney Chief Financial Officer Christine McCarthy told investors on the earnings call that the company has targeted cost savings of $5.5 billion. In February Iger announced a restructure of Disney into three divisions: Entertainment, ESPN, and Parks, Experiences and Products.

☆ Saudi money is pouring into Hollywood and media, 5 years after the murder of Jamal Khashoggi. Here's who's cashing in and how.
▼ + stars: | 2023-03-15 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +13 min

Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment. Saudi Arabia is trying to pitch itself to the world as a cultural and economic reformer and spur tourism. Even those media players that are comfortable with invetment from the Middle East may not find funds flowing, one Hollywood veteran said. A major live WWE event in Saudi Arabia is slated for May. Of the growing ties between US entertainment and media and Middle East investors, this person added, "Presumably media organizations got into this to help society make better decisions."

☆ Streamers are spending big on sports rights from soccer to MMA, and a surge in Spanish-language viewing has 'opened up a whole different market'
▼ + stars: | 2023-03-13 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +5 min

Fox scored 16.7 million viewers for the World Cup final in November; Peacock had 9 million for its Spanish-language coverage. Soccer's UEFA Champions League offers the next big Spanish-language rights opportunity. "The World Cup has opened up a whole different market for Spanish-language rights," said one sports exec. That gives Peacock Spanish-language streaming rights to this year's FIFA Women's World Cup along with the men's World Cup in 2026, which is being co-hosted in Canada, Mexico, and the US. "Spanish-language rights have been going up consistently," Irwin Raij, the co-chair of law firm Sidley Austin's entertainment, sports, and media group, told Insider.

☆ The next big prize in sports streaming will be Spanish-language rights to soccer and more — here's why NBCUniversal's Peacock has a running start
▼ + stars: | 2023-03-08 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +5 min

☆ Vice owes FTI Consulting nearly $1 million, a new court filing alleges, one of multiple vendors chasing missed payments
▼ + stars: | 2023-02-24 | by ( Claire Atkinson | Jack Newsham | ) www.businessinsider.com time to read: +4 min

Vice Media owes FTI Consulting nearly $1 million in fees, some dating back to 2019, a court filing alleges. FTI is one of several vendors who say they've gone unpaid by the youth media company. The filing alleges that Vice Holding, the parent of Vice Media, hired Washington, DC-based FTI Consulting to help it with accounting projects and management and then failed to pay its bills. Ironically, Vice hired FTI to help it with "profitability analysis" and to design "cash management" tools, according to the filing. Fortress lent Vice $30 million, according to the Wall Street Journal, which confirmed Vice is in a process to sell itself.

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