Latest Business News
Workers at Indie Game Studio Tender Claws File for Union Election
The Communications Workers of America is going public with yet another union drive at a video game studio. The labor giant, which also represents news, public service and higher education workers, among others, announced on Friday that staffers at indie video game and art studio Tender Claws have filed for a union representation election with […]
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Paramount Global Stock Gets Downgrade on “Growing Risk of Lower Advertising”
“Are we there yet? Anyone with young children knows how hearing this question over and over on a road trip can wear on even the calmest driver.” MoffettNathanson analyst Michael Nathanson’s Friday report started off like an account of a regular family summer holiday, only to then take a turn to focus on recession worries […]
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Disney+ Subscriber Forecast Cut by Analyst on Loss of Indian Cricket Rights
MoffettNathanson analyst Michael Nathanson has cut his global subscriber target for Walt Disney streamer Disney+ below the company’s 2024 target range, citing the recent loss of the streaming rights for Indian Premier League (IPL) Cricket to Viacom18. “We now expect the company to come in below its 230-260 million guidance with 213 million as Disney+ […]
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Twitter Cites Elon Musk “Uncertainty,” Ad “Headwinds” as Quarterly Earnings Fall Short
Social media giant Twitter on Friday posted higher usage figures, but missed second-quarter earnings and revenue expectations. Twitter reported revenue of $1.18 billion in the second quarter of 2022, down 1 percent year-over-year, marking the company’s latest update to investors since Tesla and SpaceX CEO Elon Musk struck an agreement to acquire the firm for […]
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Verizon Loses 86,000 Video Subs in Second Quarter, Adds Broadband Users
Verizon lost 86,000 net pay TV subscribers for its Fios consumer video service in the second quarter, compared with a loss of 78,000 in the first quarter and a loss of 62,000 in the year-ago period, the telecom giant said Friday. The company has in the past often cited “the ongoing shift from traditional linear […]
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Warner Bros. Discovery, BT Sports Joint Venture Cleared by U.K. Competition Watchdog
Warner Bros. Discovery and BT Group on Friday welcomed the decision by U.K. regulators to approve their planned creation of a joint venture in the U.K. and Ireland. The Competition and Markets Authority (CMA) unveiled its decision to allow the deal Friday, saying: “The CMA has cleared the anticipated joint venture between Warner Bros. Discovery […]
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Apple Settles Suit Against Chicago Over City’s Tax on Streaming Services
Apple and Chicago have come to terms on a deal to drop the tech giant’s lawsuit challenging the city’s first-of-its-kind tax on users of streaming services. In an order issued on Wednesday, Cook County Circuit Court Judge Daniel Duffy dismissed the case. Terms of the settlement weren’t disclosed. Chicago introduced a so-called “Netflix tax” in […]
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Warner Bros. Discovery Unveils Communications Team Leadership
Warner Bros. Discovery has unveiled its restructured communications team, led by Nathaniel Brown after he recently came on board as chief corporate communications officer. Brown, who serves as the studio’s lead spokesperson and oversees all global communications and media relations, announced former Fox comms exec Megan Klein will be in charge of corporate communications. And […]
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After Commercial Walk-Off, a Major Union Drive for Production Workers Begins
Over the course of a few days in October 2021, as they were watching film and TV crewmembers unionized with IATSE threatening to strike, a producer and production supervisor working on a major commercial job contemplated taking their own stand. Erin Wile and Cheyenne Cage were working on a multimillion-dollar ad campaign for a major […]
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AT&T CEO Signals HBO Max Bundle Could Return to Top-Tier Mobile Plans
After dropping HBO Max as a bundle perk for new unlimited mobile phone plans following AT&T’s sale of WarnerMedia to Discovery, the telecom giant is eyeing possibly rebundling the streaming service as a promotion to draw new customers. “I don’t think anything should be viewed as static and I think entertainment is part of a […]
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Movie Theater Chains Brace for Summer’s Long Cool-Down
Movie theater giants may be on top of the world right now … but they are also staring off a cliff. It’s been a blockbuster few months for, well, blockbusters, and films like Top Gun: Maverick and Minions: The Rise of Gru proved that groups that may have been wary of returning to theaters (older […]
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Chris Licht Sets His Leadership Team at CNN
CNN CEO Chris Licht has set his executive team, firming up the direct reports who will help run the cable news channel’s global operations. Licht’s appointments are mostly longtime CNN staffers, reflecting a desire to shift CNN’s focus toward hard news, rather than a desire to make dramatic change. “With this strong team now in […]
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