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☆ Morning Bid: 'Not confident' Powell drags markets lower
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +3 min

Since the Fed left rates unchanged last week, markets had increasingly grown confident that the peak in U.S. rates was in sight. But up stepped Powell to squash any hopes of an impending rate cut. "[The Fed] is committed to achieving a stance of monetary policy that is sufficiently restrictive to bring inflation down to 2% over time," Powell said. That led stocks lower, with MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) skidding 1% to their lowest in a week. The rise in yields boosted the dollar, which is headed for its best week against the yen in three months.

Persons: Jerome Powell, Kevin Lamarque, Ankur Banerjee, Powell, Christine Lagarde, Walt Disney, policymaker Joachim Nagel, SNB's Thomas Moser, Edmund Klamann Organizations: Monetary Fund's, REUTERS, Ankur, European bourses, Treasury, Industrial, Commercial Bank of China's, U.S . Treasury, Reuters, Thomson Locations: Washington , U.S, Asia, Pacific, Japan, European, U.S, Commercial Bank of China's U.S, Norway, Sweden

☆ Disney delays 'Deadpool' sequel, 'Blade' and other films in post-strike shuffle
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

The logo of the Times Square Disney store is seen in Times Square, New York City, U.S. December 5, 2019. The next "Deadpool," which had been scheduled to reach theaters in May, will now debut in late July, Disney said in a statement. Another Marvel superhero film, "Thunderbolts," was pushed to July 2025, and "Blade" was postponed until November 2025. After a tentative labor agreement was reached on Wednesday, studios and actors are working out schedules to finish uncompleted projects. Outside of Marvel, Disney moved the debut of "Mufasa: The Lion King" to December 2024, five months later that originally planned.

Persons: Nick Pfosi, Walt Disney, Disney, Lisa Richwine, Shri Navaratnam Organizations: Times Square Disney, REUTERS, Marvel, Thomson Locations: Square , New York City, U.S

☆ Big media rallies as tentative actors' deal paves way for restarting productions
▼ + stars: | 2023-11-09 | by ( Samrhitha A | ) www.reuters.com time to read: +2 min

Warner Bros Discovery (WBD.O) and Paramount Global (PARA.O) gained 3% each, Netflix (NFLX.O) rose marginally, while Walt Disney (DIS.N) jumped 4%, as it also benefited from strong earnings and a plan to cut more costs. The writers, who had gone on strike before the actors in spring, returned to work in late September, but most productions remained halted as the actors were on picket lines. "Its certainly a very encouraging sign the chasm that opened up between actors, writers and studios can finally be closed and work begin in earnest on re-starting productions," said Susannah Streeter, head of money and markets at Hargreaves Lansdown. Streeter warned that "it's going to take considerable time before new movies, in particular, will appear on screens given the lengthy post-production process." Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Alyssa Pointer, Walt Disney, Susannah Streeter, Hargreaves Lansdown, Streeter, Samrhitha, Shinjini Organizations: Warner Bros . Discovery, Writers Guild of America, Alliance of Motion Pictures, Television Producers, REUTERS, Warner Bros Discovery, Paramount Global, Netflix, SAG, Hargreaves, Thomson Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, Hollywood, Bengaluru

The 118-day work stoppage will end officially just after midnight, the SAG-AFTRA union said in a statement after its negotiating committee voted unanimously to support the deal. "We have arrived at a contract that will enable SAG-AFTRA members from every category to build sustainable careers," the union said. George Clooney and other A-list stars voiced solidarity with lower-level actors and had urged union leadership to reach a resolution. While WGA members returned to writing scripts in late September, the ongoing SAG-AFTRA work stoppage left many productions dark. It also led movie studios to delay big releases such as "Dune: Part 2" because striking actors could not promote them.

Persons: Jim Kulick, Mario Anzuoni, Fran Drescher, Walt Disney, I'm, Fanny Grande, It's, Jessica Payne, Rati Gupta, Anu, George Clooney, Lisa Richwine, Stephen Coates Organizations: SAG, Paramount Studios, REUTERS, Alliance, Television Producers, Walt, Netflix, Hollywood, CBS, Writers Guild of America, WGA, Milken, United Auto Workers, Detroit carmakers, Thomson Locations: Los Angeles , California, U.S, New York, Los Angeles, Los Angeles and New York, California

However, the rally has run out of steam as several Fed policymakers this week pushed back against market expectations that the central bank will begin cutting interest rates soon. "The market got carried away regarding how soon it thought we would be seeing interest rate cuts being delivered. "But that was never the case and comments from various CB (central bank) officials this week have very much opened eyes to this." On the earnings front, shares of Walt Disney (DIS.N) rose 4.1% in premarket trade after the entertainment company exceeded Wall Street estimates for quarterly profit on higher attendance at its Shanghai and Hong Kong theme parks. MGM Resorts International(MGM.N) added 3.5% on beating third-quarter estimates for profit and revenue as the casino operator benefited from easing pandemic restrictions.

Persons: Brendan McDermid, Stuart Cole, Austan Goolsbee, Jerome Powell, Thomas Barkin, Walt Disney, Amruta Khandekar, Maju Samuel Organizations: Intercontinental Exchange Inc, New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Treasury, Equiti, CB, Chicago Fed, Wall, International Monetary Fund, Richmond Fed, Labor Department, Dow e, Walt, Arm Holdings, Theatre, AMC Entertainment, MGM Resorts International, Thomson Locations: U.S, Shanghai, Hong Kong

☆ Morning Bid: Oil and bond yields try to find toehold
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +4 min

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. The supply picture for U.S. crude, which is now down more than 20% from late September's peaks, has also weighed on energy prices. Crude inventories increased by 11.9 million barrels over the week to Nov. 3, sources said, citing American Petroleum Institute figures. With senior Fed officials on Wednesday side-stepping guidance on the central bank's next policy steps, attention focuses squarely on Powell's latest speech. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Carlo Allegri, Mike Dolan, Jerome Powell's, Powell, Jerome Powell, Thomas Barkin, Raphael Bostic, Kathleen O'Neill Paese, Christine Lagarde, Janet Yellen, Becton Dickinson, Emelia Sithole Organizations: New York Stock, REUTERS, Federal, American Petroleum Institute, Walt Disney, ABC, Warner Bros Discovery, Richmond Fed, Atlanta Fed, Louis Interim, European Central Bank, . Treasury, News Corp, Wynn Resorts, U.S, Treasury, Thomson, Reuters Locations: Manhattan, New York City , New York, U.S, Europe, Shanghai, Hong Kong, Washington, St, Brussels, Mettler, Toledo, TransDigm

Actors secured these new safeguards as part of a deal announced late on Wednesday, according to Duncan Crabtree-Ireland, chief negotiator for the SAG-AFTRA actors union. The proposed agreement sets a minimum compensation level for AI uses, Crabtree-Ireland said. Crabtree-Ireland said the proposed contract also included safeguards around the use of generative AI to create synthetic actors. "They are being ultra cautious," said Scott Mann, co-CEO and founder of Flawless, a company that uses AI for film dubbing and editing. Film and television writers also won protections around AI use after a five-month-long strike by the Writers Guild of America this year.

Persons: Duncan Crabtree, Carlos Osorio, Crabtree, Walt Disney, Scott Mann, Dawn Chmielewski, Lisa Richwine, Mary Milliken, Bill Berkrot Organizations: National, SAG, The, Toronto, Film, REUTERS, Actors, Reuters, Alliance, Television Producers, Walt, Warner Bros Discovery, Netflix, Technology, Writers Guild of America, Thomson Locations: Ireland, Toronto , Ontario, Canada, Crabtree, Hollywood, Los Angeles

Toy figures of people are seen in front of the displayed Disney + logo, in this illustration taken January 20, 2022. For the fiscal fourth quarter ended Sept. 30, Disney reported adjusted per-share earnings of 82 cents, topping an average forecast of 70 cents, according to LSEG data. The company said it added nearly 7 million Disney+ streaming subscribers in the quarter, with the inclusion of "Guardians of the Galaxy Vol. Disney+ and Disney+ Hotstar together boast 150.2 million subscribers, ahead of Visible Alpha's estimate of 147.4 million. "Our results this quarter reflect the significant progress we've made over the past year," Iger said in a statement.

Persons: Dado Ruvic, Walt Disney, Bob, Kevin Lansberry, Iger, Disney, Nelson Peltz, Trian, Paolo Pescatore, Paul Verna, Verna, We've, Dawn Chmielewski, Lisa Richwine, Chavi Mehta, Peter Henderson, Sayantani Ghosh, Matthew Lewis Organizations: REUTERS, ABC, Disney, Guardians, Trian, Management, Warner Bros Discovery, SAG, Insider Intelligence, Hulu, ESPN, Shanghai Disney, Walt Disney, Disney's Entertainment, Star, Big Ten, Thomson Locations: Shanghai, Hong Kong, Florida, India, Los Angeles, Bengaluru

The SAG-AFTRA union posted a message on X, the social media platform formerly known as Twitter, saying its negotiating committee is determined to secure the best deal and bring a responsible end to the strike. "We need a fair contract to make sure this career is viable now AND in the future." Last week, union leaders expressed "cautious optimism" that a deal could be reached soon but also said there were gaps between the two sides on various issues including the use of AI. Actors are seeking assurances that their digital likenesses will not be used without their permission. Reporting by Dawn Chmielewski and Lisa Richwine in Los Angeles Editing by Mary Milliken and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Duncan Crabtree, Fran Drescher, Walt Disney, Dawn Chmielewski, Lisa Richwine, Mary Milliken, Matthew Lewis Organizations: SAG, Alliance, Television Producers, Amazon, Hollywood, Walt, Netflix, Thomson Locations: ANGELES, Los Angeles

☆ Wall St extends winning streak; eyes Fed speakers, Treasury auctions
▼ + stars: | 2023-11-06 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Expectations the Fed was likely done with rate hikes sent the S&P 500 up 5.85% last week and the Nasdaq up 6.61%, their biggest weekly jumps since November 2022. The session marks the sixth straight advance for the Dow and S&P 500 and seventh straight gain for the Nasdaq. The streak is the longest for the S&P 500 since early June, since July for the Dow and since January for the Nasdaq. A total of 403 companies in the S&P 500 have reported profits through Friday the third quarter, with 81.6% surpassing analyst estimates, per LSEG data. The S&P 500 posted nine new 52-week highs and no new lows while the Nasdaq recorded 46 new highs and 113 new lows.

Persons: Bumble, CME's, Jerome Powell, John Williams, Lorie Logan, Stephen Massocca, Brendan McDermid, Walt Disney, Erik Carlson, Whitney Wolfe, Chuck Mikolajczak, Richard Chang Organizations: Federal Reserve, New York Fed, Dallas Fed, Wedbush Securities, Nasdaq, New York Stock Exchange, REUTERS, Dow Jones, Dow, University of, Dish Network, NYSE, Thomson Locations: New, San Francisco, New York City, U.S

☆ Wall St flat after rally as Fed speakers, Treasury auctions eyed
▼ + stars: | 2023-11-06 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Markets will look for more clarity on the Fed's intentions from officials speaking later in the week, including Chair Jerome Powell, and voting members such as New York Fed chief John Williams and Dallas Fed President Lorie Logan. Expectations the Fed was likely done with rate hikes sent the S&P 500 up 5.85% last week and the Nasdaq up 6.61%, their biggest weekly jumps since November 2022. A total of 403 companies in the S&P 500 have reported profits through Friday the third quarter, with 81.6% surpassing analyst estimates, per LSEG data. The S&P 500 posted nine new 52-week highs and no new lows while the Nasdaq recorded 43 new highs and 99 new lows.

Persons: Brendan McDermid, CME's, Jerome Powell, John Williams, Lorie Logan, Stephen Massocca, Walt Disney, Erik Carlson, Whitney Wolfe, Chuck Mikolajczak, Richard Chang Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, New York Fed, Dallas Fed, Wedbush Securities, University of, Dow Jones, Dish Network, NYSE, Thomson Locations: New York City, U.S, New, San Francisco

☆ Disney taps PepsiCo veteran Johnston as CFO
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

A screen shows the logo and a ticker symbol for The Walt Disney Company on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 6 (Reuters) - Walt Disney (DIS.N) on Monday hired PepsiCo (PEP.O) veteran Hugh Johnston as its chief financial officer, strengthening top boss Bob Iger's hands as he tries to turn around the media giant facing a decline in its cable business and investor pressure. Johnston had also helped guide the Doritos maker through its bitter battle with activist investor Nelson Peltz's Trian Fund Management. At PepsiCo, Johnston will be replaced by Jamie Caulfield, currently CFO at the company's North America business. Johnston will receive an annual base salary of $2 million, Disney said, compared with the $1 million base salary he received at PepsiCo at of the end of 2022, according to a regulatory filing.

Persons: Brendan McDermid, Walt Disney, Hugh Johnston, Bob Iger's, Johnston, Nelson Peltz's, Trian, Michael Ashley Schulman, Christine McCarthy, Jamie Caulfield, Disney, Akash Sriram, Aishwarya Venugopal, Sriraj Organizations: Walt Disney Company, New York Stock Exchange, REUTERS, Monday, PepsiCo, ESPN, Fund Management, Disney, Running, Microsoft, HCA Healthcare, Hollywood, Thomson Locations: New York, U.S, America, Bengaluru

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Seven of the 11 major S&P 500 sectors climbed, with information technology (.SPLRCT) and consumer discretionary (.SPLRCD) leading gains. Other speakers include voting members such as Federal Reserve Board Governor Lisa Cook, New York Fed President John Williams and Dallas Fed President Lorie Logan. A total of 403 companies in the S&P 500 have reported profits to date in the third quarter, with 81.6% surpassing analyst estimates, per LSEG data. Declining issues outnumbered advancers for a 2.01-to-1 ratio on the NYSE and for a 1.24-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Tesla, Jerome Powell, Lisa Cook, John Williams, Lorie Logan, Jamie Cox, Walt Disney, Erik Carlson, Whitney Wolfe, advancers, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dish, Dow, Nasdaq, Federal, Tesla, Reuters, Traders, Federal Reserve, Lisa Cook , New York Fed, Dallas Fed, Harris Financial, Fed, University of, Dow Jones, Dish Network, NYSE, Thomson Locations: New York City, U.S, Berlin ., Lisa Cook , New

☆ Futures edge up on rate cut hopes; Fed speakers awaited
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +3 min

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Other speakers include voting members such as Federal Reserve Board Governor Lisa Cook, New York Fed President John Williams and Dallas Fed President Lorie Logan. Walt Disney (DIS.N), Instacart (CART.O) and Biogen (BIIB.O) are among major companies reporting earnings this week. 403 companies in the S&P 500 have reported profits to date in the third quarter, with 81.6% surpassing analyst estimates, per LSEG data. ET, Dow e-minis were up 28 points, or 0.08%, S&P 500 e-minis were up 8.5 points, or 0.19%, and Nasdaq 100 e-minis were up 41.5 points, or 0.27%.

Persons: Brendan McDermid, Mohit Kumar, Jerome Powell, Lisa Cook, John Williams, Lorie Logan, Walt Disney, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal, Treasury, Jefferies, Federal Reserve, Lisa Cook , New York Fed, Dallas Fed, Tesla, Reuters, University of, Dow e, PDD Holdings, Baidu, Thomson Locations: New York City, U.S, Europe, Lisa Cook , New, Berlin, Beijing

☆ Paramount summits a precarious streaming peak
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

Toy figures of people are seen in front of the displayed Paramount + logo, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Nov 3 (Reuters Breakingviews) - Paramount Global (PARA.O) says it’s reached the peak of its pain from investing in costly streaming. Crucially, boss Bob Bakish indicated that investment in streaming has topped out ahead of schedule, helping to send shares up 10%. Turning around streaming losses is existential for old-guard media empires navigating the slow dwindling of cable and broadcast. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Dado Ruvic, it’s, Bob Bakish, Bakish, Walt Disney, Disney’s, Nielsen, Bakish’s, Jennifer Saba, Aston Martin, Jonathan Guilford, Aditya Sriwatsav Organizations: REUTERS, Reuters, Paramount, Yellowstone, Netflix, YouTube, Disney’s Hulu, Macquarie, Pfizer, Thomson

☆ Take Five: You (may) have arrived at your destination
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +5 min

No wonder markets see a 70% chance that the Fed's brutal 20-month tightening cycle is over and that rate cuts could begin as soon as June. So watch closely to see if the top central bankers push back against the cut chatter until inflation is truly tamed. Shekel, gold, oil response to the war5/RACE DAY RATE HIKEThe famous Melbourne Cup horse race runs on Tuesday, but some of the shortest odds are on an Aussie central bank rate hike over in Sydney that day. Three-year and 10-year Australian government bond yields have hit their highest since 2011, though backed off slightly on the Fed's hold. The Australian dollar has also rallied strongly against its New Zealand counterpart as rate expectations diverge.

Persons: Marc Jones, Dhara, Kevin Buckland, Tom Westbrook, Lewis Krauskopf, BoE, Horton, Walt Disney, Mittal, shekel, Antony Blinken, Jordan, Luci Ellis, Kripa Jayaram, Riddhima Talwani, Gareth Jones Organizations: Federal Reserve, Fed, ECB, FX, Bank of Japan, Reuters, eBay, Nvidia, UBS, ABN Amro, Allianz, Friday, U.S, Melbourne Cup, Westpac, New Zealand, Thomson Locations: Australia, Gaza, Here's, London, Tokyo, Singapore, New York, Britain, U.S, Europe, Commerzbank, Israel, Gaza City, Iran, Sydney

☆ Paramount narrows streaming loss forecast as investments peak
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

Toy figures of people are seen in front of the displayed Paramount + logo, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 3 (Reuters) - Paramount Global shares (PARA.O) surged 10% on Friday, after the media company narrowed the 2023 loss forecast for its fast-growing streaming business as investments peaked a year ahead of target. "We now expect DTC (direct-to-consumer) losses in 2023 will be lower than in 2022 – meaning streaming investment peaked ahead of plan," Paramount CEO Bob Bakish said. Despite the industry's focus pivoting to profitability, analysts do not see a clear path to that target, with brokerage Needham believing that Paramount could be bought by a larger streaming competitor. "It is bite-size enough to be acquired by a larger streaming competitor for its deep library of film and TV content, as well as its sports rights and news assets."

Persons: Dado Ruvic, HBO Max, Bob Bakish, Needham, Samrhitha, Devika Organizations: REUTERS, Paramount Global, Disney, HBO, Rivals Walt Disney, Warner Bros Discovery, Paramount, NFL, Thomson Locations: Bengaluru

☆ Actors, Hollywood studios still at odds on AI and other issues, union says
▼ + stars: | 2023-11-02 | by ( Lisa Richwine | ) www.reuters.com time to read: +2 min

SAG-AFTRA members walk the picket line on the 100th day of their ongoing strike outside Paramount Studios in Los Angeles, California, U.S., October 20, 2023. REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsLOS ANGELES, Nov 1 (Reuters) - Negotiators for Hollywood actors and major studios have not resolved concerns about artificial intelligence (AI) and other issues in talks aimed at ending an 111-day strike, the SAG-AFTRA union said late Wednesday. The union has been seeking limits on how studios can use generative AI technology when making movies and TV shows. Actors fear they may be replaced by digital performers or that their likenesses may be used without their permission. "We continue to await the AMPTP's response to our comprehensive counter proposal package which we gave them on Saturday, addressing outstanding issues," SAG-AFTRA said.

Persons: Mario Anzuoni, Walt Disney, AFTRA, Lisa Richwine, Gerry Doyle Organizations: Paramount Studios, REUTERS, Hollywood, SAG, Alliance, Television Producers, Netflix, Wednesday, Milken Institute, Thomson Locations: Los Angeles , California, U.S, New York, Los Angeles, United States, California

[1/2] A smartphone with displayed "Disney" logo is seen on the keyboard in this illustration taken March 24, 2020. Disney said it expected to pay NBCUniversal (NBCU) parent Comcast about $8.61 billion by Dec. 1. Hulu had 48.3 million subscribers at the end of Disney's third quarter, compared with 28 million paid subscribers for Comcast's Peacock streaming service at the end of Comcast's third quarter. Disney+ had 146.1 million global subscribers at the end of Disney's third quarter. If the value is determined to be greater than the guaranteed floor value, Disney will pay NBCU the difference.

Persons: Dado, Walt Disney, Disney, Bob Iger, Goldman Sachs, Brian Roberts, Dawn Chmielewski, Helen Coster, Sriraj Kalluvila, Sayantani Ghosh, Jamie Freed Organizations: REUTERS, ANGELES, Wednesday, Disney, Comcast, Hulu, Goldman, Thomson Locations: Hulu, Burbank , California, U.S, Los Angeles, New York

☆ Striking US actors union says major issues still unresolved with studios
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

SAG-AFTRA members walk the picket line on the 100th day of their ongoing strike outside Paramount Studios in Los Angeles, California, U.S., October 20, 2023. REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsOct 30 (Reuters) - Striking Hollywood actors and studios remain far apart on key issues and will meet on Tuesday, the actors union said late on Monday. "While talks over the past week have been productive, we remain far apart on key issues, the union said in an update to its members. Last week, the union made a comprehensive counteroffer to AMPTP, the group representing Walt Disney (DIS.N) Netflix (NFLX.O) and other major media companies. Members of SAG-AFTRA, which represents 160,000 actors and other media professionals, have been on strike since July.

Persons: Mario Anzuoni, Duncan Crabtree, Crabtree, Maria Ponnezhath, Rollo Ross, Edwina Gibbs Organizations: Paramount Studios, REUTERS, Reuters, Alliance, Television Producers, Walt Disney, Netflix, SAG, Thomson Locations: Los Angeles , California, U.S, Ireland, AMPTP, Bengaluru

☆ Striking Hollywood actors pass counteroffer ahead of further talks with studios
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +2 min

SAG-AFTRA members walk the picket line on the 100th day of their ongoing strike outside Paramount Studios in Los Angeles, California, U.S., October 20, 2023. REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsOct 27 (Reuters) - Striking Hollywood actors have made a comprehensive counteroffer to the major studios, the SAG-AFTRA performers' union said in a post on social media platform X. Ahead of Friday's talks, a group of SAG-AFTRA members published an open letter to the union leadership, urging the negotiating committee to continue fighting for improved compensation, royalties and workplace protections. The latest counteroffer submitted by the actors union on Thursday comes after media companies and the union representing striking U.S. actors returned to the bargaining table on Tuesday. Members of SAG-AFTRA, which represents 160,000 actors and other media professionals, have been on strike since July.

Persons: Mario Anzuoni, Friday's, we’ve, Gursimran Kaur, Dawn Chmielewski, Clarence Fernandez, Jonathan Oatis Organizations: Paramount Studios, REUTERS, SAG, Alliance, Television Producers, Walt Disney, Netflix, Solidarity, Hollywood, Thomson Locations: Los Angeles , California, U.S, Bengaluru, Dawn, Los Angeles

☆ Apple raises subscription prices for TV+, News+
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

[1/2] An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. REUTERS/Mike Segar/File Photo Acquire Licensing RightsOct 25 (Reuters) - Apple (AAPL.O) on Wednesday increased the subscription prices of Apple TV+ and Apple News+, according to its website, the latest company to raise rates following similar moves by media giants. The per month price of Apple TV+ has been increased by $3 to $9.99, while Apple News+ has been priced at $12.99, up from $9.99. Recently, streaming giants Netflix (NFLX.O) and Disney (DIS.N) too had raised their prices as they look to boost growth amid intense competition. Netflix increased subscription prices for some streaming plans in the United States, Britain and France when it reported results last week.

Persons: Mike Segar, Anirudh Saligrama, Shweta Agarwal Organizations: Apple, REUTERS, Netflix, Disney, Hulu, Thomson Locations: Manhattan, New York City, United States, Britain, France, Bengaluru

☆ Disney nears deal to sell $10-bln valued India business to Reliance -Bloomberg News
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

However, Disney may now sell a controlling stake in the business to Reliance, the Mukesh Ambani-controlled conglomerate whose streaming platform's success has weighed on the U.S. company's Indian business, Bloomberg reported. Reliance, whose broadcast venture Viacom18 runs JioCinema, values Disney's India assets, which comprises the Disney+ Hotstar streaming service and Star India, at between $7 billion and $8 billion, the report said. The enterprise value of the India business, Disney's biggest last year globally by users, was seen at around $15 billion to 16 billion when Disney took over Fox's business. The deal could be announced as early as next month, although no final decision has been made and Disney could still decide to hold onto the assets, Bloomberg reported. JioCinema has put increased pressure on Disney India and other streaming platforms, with Ambani marketing the platform by offering free access to the Indian Premier League cricket tournament, digital rights of which were earlier with Disney.

Persons: Dado Ruvic, Gautam Adani, Kalanithi Maran, Mukesh Ambani, JioCinema, Ambani, OTT, Karan Taurani, Taurani, Varun Vyas, Rama Venkat, Savio D'Souza Organizations: Disney, REUTERS, Rights, Reliance Industries, Bloomberg, Reuters, Sun TV Network, Blackstone, Reliance, Star India, Disney's, Disney India, Indian Premier League cricket, Elara Securities, Thomson Locations: India, Bengaluru

Smartphone with Netflix logo is placed on a keyboard in this illustration taken April 19, 2022. REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsLOS ANGELES Oct 19 (Reuters) - Streaming pioneer Netflix (NFLX.O) showed resilience by gaining more quarterly subscribers than in the past three years despite strikes by Hollywood's writers and actors, sending its shares up 13.5% in premarket trading on Thursday. Shares rose to $393.45 in an indication that the company was set to add nearly $21 billion to its market capitalization. "The management deserves an Emmy for managing investor expectations," Bernstein analysts wrote in a note, adding that paid-sharing has opened up a bigger-than-expected market of potential subscribers for Netflix. "Due to its large international presence, Netflix is positioned better than most entertainment companies in plugging programming gaps from the writers' and actors' strikes," said Insider Intelligence principal analyst Ross Benes.

Persons: Dado, Bernstein, Walt Disney, Ross Benes, Benes, Ted Sarandos, Sarandos, Sophie Lund, Yates, Hargreaves Lansdown, Dawn Chmielewski, Lisa Richwine, Chavi Mehta, Gerry Doyle, Arun Koyyur Organizations: Netflix, REUTERS, Paramount Global, Warner Bros Discovery, Writers Guild of America, Intelligence, vise, Netflix's U.S, USA Network, Thomson Locations: Los Angeles, Bengaluru

[1/2] The Netflix logo is shown on one of their Hollywood buildings in Los Angeles, California, U.S., July 12, 2023. The company picked up nearly 9 million new customers around the globe, surpassing the 6 million consensus forecast of Wall Street analysts surveyed by LSEG. The one-stream basic plan rose by $2 per month. GLOBAL PRICE HIKESIn Britain, Netflix increased the basic plan price by 1 pound to 7.99 pounds. Netflix projected fourth quarter revenue of $8.69 billion fell slightly below the $8.77 billion forecast of analysts polled by LSEG.

Persons: Mike Blake, Walt Disney, Paolo Pescatore, Lisa Richwine, Aurora Ellis Organizations: REUTERS, Netflix, Street, LSEG, Investors, Warner Bros Discovery, LSEG . Media, YouTube, Nielsen, Thomson Locations: Los Angeles , California, U.S, United States, Britain, France, Hollywood

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