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Reed Hastings

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business3 days ago•18 min saved

Hastings: Theatrical Isn’t Netflix’s Core, Even as a Big Theatrical Push Looms

Reed Hastings said on a podcast that theatrical is not Netflix’s core business, aligning with a long-term, core-focused approach, even as Netflix gears up for a major theatrical push following its Warner Bros. deal; Ted Sarandos later signaled that, once the deal closes, Netflix will run a robust theatrical distribution engine with a 45-day window and a goal to win box office, highlighting a shift in stance from Hastings but a continued strategic pivot for the company.

via The Hollywood Reporter|

#box-office #business #netflix

politics4 months ago•1 min saved

Netflix Co-Founder Donates $2 Million to California Redistricting Efforts

Netflix co-founder Reed Hastings donated $2 million to support California's redistricting effort led by Governor Gavin Newsom, aiming to redraw congressional maps and counter moves in Texas, with other notable tech and political figures also backing the initiative amid political challenges and opposition.

via Bloomberg.com|

#california #donations #gavin-newsom

business2 years ago•0 min saved

"Netflix Co-Founder Donates $1.1 Billion in Stock to Silicon Valley Nonprofit"

Netflix founder Reed Hastings has gifted over $1.1 billion worth of Netflix stock to the Silicon Valley Community Foundation, constituting about 40% of his Netflix stock. This move comes as the stock closed at $575.08. Hastings, with a net worth of $6.6 billion, has previously donated to educational institutions and has stepped down as co-CEO of Netflix. The Silicon Valley Community Foundation is the largest charitable foundation in Silicon Valley and has not yet commented on the donation.

via Deadline|

#business #donation #netflix

philanthropy2 years ago•1 min saved

"Netflix CEO Donates $1.1 Billion in Stock to Silicon Valley Foundation"

Reed Hastings, Netflix co-founder and executive chairman, has gifted 2 million shares of Netflix stock, valued at about $1.1 billion, to the Silicon Valley Community Foundation, as part of his ongoing philanthropic efforts. This substantial donation adds to Hastings' history of supporting educational initiatives and historically Black colleges and universities, reflecting his commitment to addressing systemic inequities and supporting underprivileged communities.

via Variety|

#charitable-donation #netflix #philanthropy

business2 years ago•1 min saved

"Netflix Founder Reed Hastings Sells $1.1 Billion in Company Shares"

Netflix co-founder and executive chairman Reed Hastings has gifted two million shares of his holdings in the streaming giant, valued at over $1.1 billion, to an undisclosed entity. This represents about 40% of Hastings' direct holdings and was disclosed in a regulatory filing. While the recipient is unknown, Hastings has a history of philanthropy, including a $120 million donation to historically Black colleges and universities in 2020. Hastings retains just under three million Netflix shares with a value of around $1.7 billion and has historically sold several tranches of options, netting him around $2 billion.

via CNBC|

#business #donation #netflix

business2 years ago•2 min saved

Netflix Co-CEOs Ted Sarandos and Greg Peters to Receive $40 Million Pay Packages in 2024

Netflix's board has approved the 2024 pay packages for its top executives, with co-CEOs Ted Sarandos and Greg Peters set to receive $40 million each. Sarandos' pay remains the same as in 2023, while Peters' compensation sees a 5% increase. Former CEO Reed Hastings, now executive chairman, will receive $1 million, down from $3 million in 2023. The company made changes to the structure of the pay packages, including eliminating the option for executives to choose between cash salary and stock options. The packages consist of base salaries, cash bonuses, and stock awards.

via Variety|

#business #executive-compensation #greg-peters