Latest Business News
Stacey Abrams Launches New Podcast With Crooked Media (Exclusive)
Politician and author Stacey Abrams is launching a weekly podcast with Crooked Media. The podcast, entitled Assembly Required with Stacey Abrams, will see the former Georgia gubernatorial candidate break down big issues facing the country, interview experts about solutions and discuss ways for listeners to get involved. Asked why she decided to launch her own […]
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Disneyland Workers Ratify New Contract With Wage Gains, Improved Sick Leave
Disneyland workers voted to approve their new three-year contract about a week after voting to authorize a strike if an agreement could not be reached. The workers, representing 14,000 cast members at Disneyland, Disney California Adventure, Downtown Disney and the Disney hotels in jobs including custodians, ride operators, candy makers and merchandise clerks, voted to […]
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Wasserman Hires a Private Equity Veteran to Lead Dealmaking Strategy
Music and entertainment company Wasserman has hired private equity veteran Steve Murray as executive vp of mergers and acquisitions and strategy. Murray joins the Hollywood talent, entertainment, sports and advisory company from Providence Equity Partners, where as a principal he helped spearhead a strategic investment in Wasserman in Nov. 2022. Murray was key to two acquisitions for Wasserman: CSM […]
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Now Influencers Can Create AI Versions of Themselves on Instagram
Meta is bringing its AI Studio to the U.S., allowing creators and Instagram users to build their own AI characters. With the tool, users with the creator account on Instagram can create a customized AI bot “as an extension of themselves” that answers commonly asked questions, including links to their clothing items show in posts […]
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Lionsgate to Eliminate Studio’s Dual-Class Share Structure
Lionsgate is moving ahead with a plan to collapse its dual-class share structure into a single class of stock by offering a 12 percent premium to class A voting shareholders. The studio, led by CEO Jon Feltheimer, in an SEC filing on Monday said a special committee of the board explored ending the dual-class voting […]
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Spencer Ela Boards Miramax’s Motion Picture Group as Senior VP
Veteran film producer Spencer Ela has joined Miramax’s Motion Picture Group as a senior vp. He most recently worked at The Safran Company as a vp under DC Studios co-chair Peter Safran and producer John Rickard. Ela arrives at Miramax months after Jonathan Glickman became CEO of the film and TV studio, replacing former CEO […]
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Movie Theater Chains Tout Revenue Records After ‘Deadpool & Wolverine’ Bow
Theatrical movie giants AMC Theatres, Cinemark and Imax were all cheers on Monday after Shawn Levy’s Deadpool & Wolverine opened to a record-shattering $205 million at the domestic box office on the weekend. AMC said it set new 2024 records for weekend attendance and admissions revenue in the U.S. market and for its Odeon Cinemas […]
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Vandalism Hits Communication Lines in France During Paris Olympics
The French government says multiple telecommunications lines have been hit by acts of vandalism, affecting fiber lines and fixed and mobile phone lines as cities around France are hosting events for the 2024 Paris Olympics. The scale of the impact is unclear, as is whether it has affected any Olympic activities. The vandalism came after arson […]
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Melinda French Gates Says Elon Musk, Peter Thiel and Other Billionaires Are Not Philanthropists
Melinda French Gates says there is a new generation of billionaire activists who aren’t really philanthropists. Speaking to The New York Times, the ex-wife of Bill Gates — who recently rocked the philanthropic world when she announced she was leaving the Bill and Melinda Gates Foundation, which has given away nearly $80 billion since it was […]
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Hollywood Basic Crafts Reach Tentative Deal With Studios and Streamers
After several suspenseful weeks, the Hollywood Basic Crafts union coalition said it reached a tentative agreement with Hollywood studios and streamers. The group announced the provisional deal, which is still subject to a ratification vote by members, on July 27. “After a long last 48-hours, we are PROUD to report that ALL Hollywood Basic Crafts […]
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Regal-Owner Cineworld Unveils UK Restructuring With Job Cuts, Theatre Closures
Regal-owner Cineworld plans to close six movie theaters, cut jobs and renegotiate rents as part of a court-directed restructuring of its UK circuit. “We are implementing a restructuring plan that will provide our company with a strong platform to return our business to profitability, attract further investment from the group, and ensure a sustainable […]
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Warner Bros. Discovery Sues the NBA After League Rejects Matching Rights Proposal
Warner Bros. Discovery is pulling a Roone Arledge. The media company has filed suit against the NBA over the league’s decision to sell a package of rights to Amazon Prime Video. The suit was filed under seal Friday morning. “Given the NBA’s unjustified rejection of our matching of a third-party offer, we have taken legal […]
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Charter Loses 393,000 Video Subs in Second Quarter
Cable giant Charter Communications, with John Malone’s Liberty Broadband as a major stakeholder, has continued to shed video subscribers. The company, led by CEO Chris Winfrey, revealed that it lost 393,000 residential pay TV subscribers in its latest quarter, compared with a loss of 189,000 customers in the year-ago period. Video revenue totaled $3.9 billion in the second quarter, down […]
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Hasbro, Bandai Namco Back UGC Game Studio Look North World, Bringing Seed Funding to $4.5M
Los Angeles-based Look North World, a user-generated content game studio and publisher led by founder and CEO Alexander Seropian, a founder of Halo developer Bungie and an ex-top executive at Disney’s former game development unit Disney Interactive Studios, has raised an additional $2.25 million, bringing its total seed funding to $4.5 million. The financing round, unveiled […]
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SAG-AFTRA Calls Strike Against Major Video Game Studios
For close to two years, SAG-AFTRA has been in talks with major video game companies on a new contract agreement that would cover voice and performance capture workers on titles from Disney Character Voices, Activision Blizzard, Electronic Arts, Warner Bros. Games, Insomniac Games and more. Now, at an impasse over artificial intelligence concerns, the union’s […]
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Hollywood Icon Yamashiro Listed for $100M
Yamashiro, the landmark Japanese Revival restaurant in the Hollywood Hills, has been listed for $100 million. The 7.3-acre estate sits immediately north of the famed Magic Castle and up the block from the TCL Chinese Theatre, which is owned by movie producers and entrepreneurs Elie Samaha and Steven Markoff. Yamashiro, according to The Real Deal, […]
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