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Streaming Business

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business1 year ago

"Paramount's Stock Plummets Amid Skydance Merger Talks and Buyout Rumors"

Paramount's stock dropped over 8% after reports of exclusive merger talks with Skydance Media, following a declined $26 billion all-cash offer from Apollo. The company has been struggling with losses in its streaming business and declining linear TV revenue, prompting cost-efficiency plans and potential sale discussions. Skydance aims for a two-step deal targeting Paramount's holding company, National Amusements, but analysts remain skeptical about the complexity and potential benefits of the deal.

via Yahoo Finance|
#business#merger-talks#paramount
business1 year ago

"Disney CEO Bob Iger Defends Against Activist Investors' Push for Change"

Disney CEO Bob Iger dismisses activist investor Nelson Peltz's push for board seats, stating that the company doesn't need distractions and that the team is motivated and focused. Iger argues that Disney is already working towards achieving profitability in its streaming business and that outsiders don't understand the company's assets or the essence of the Disney brand. Meanwhile, Disney faces pressure from both Peltz's firm, Trian Partners, and activist firm Blackwells Capital, as they seek changes in the company's direction and board composition.

via Hollywood Reporter|
#activist-investors#bob-iger#business
business1 year ago

"Q4 Earnings Show Improvement, Tech Sector Leads the Way"

The U.S. fourth-quarter earnings reporting season is halfway through, with financial concerns over consumer credit and retail challenges. Despite a slow start, per-share profits for S&P 500 companies have improved, driven by big tech companies like Meta Platforms, Amazon, Microsoft, Alphabet, and Apple. The financial sector's decrease in earnings was offset by the rebound in information technology companies. As the earnings season continues, upcoming reports include companies like Tyson Foods, Palantir Technologies, Spotify, Mattel, PayPal, PepsiCo, and more. Additionally, McDonald's and Spirit Airlines are set to report, while Disney faces challenges in its streaming business.

via MarketWatch|
#business#earnings#financial-sector
businesstech2 years ago

"Tech Turmoil: Apple's Controversial Moves Spark Outrage and Legal Battles"

Spotify criticizes Apple's new plan for higher transaction fees, calling them "outrageous" and accusing the company of prioritizing profits over developers and consumers. They urge the UK government to prevent a similar situation and advocate for the Digital Markets, Competition and Consumer Bill. Meanwhile, Spotify itself faces challenges, including a new policy requiring a minimum of 1,000 streams for royalties and recent layoffs, as the streaming industry undergoes scrutiny for fair artist compensation and visibility.

via NME|
#apple#businesstech#fees
business2 years ago

"Nelson Peltz Launches Proxy War Against Disney's Board"

Billionaire investor Nelson Peltz, who controls roughly $3 billion worth of Disney stock through his firm Trian, has been in a year-long battle with Disney's management. He recently visited Disney World without special passes or a tour guide, and is seeking a board seat for himself and former Disney exec James Rasulo, citing governance issues and the streaming business's lack of profitability. Peltz's website, RestoretheMagic.com, claims that Disney shareholders and fans are not feeling the love, and that investors would have been better off putting money into the S&P 500 or one of its competitors.

via The Daily Beast|
#board-seat#business#disney
business2 years ago

Paramount's Potential Sale Sparks Wall Street Interest

Speculation is growing that David Ellison's Skydance Media and RedBird Capital are considering a bid for National Amusements (NAI), the parent company of Paramount Global. A potential sale of Paramount could reshape the Hollywood landscape and lead to further deals, as assets are reevaluated. Analysts predict that a deal could result in the combination of Skydance, Paramount, and CBS Studios to create a content producer with more scale. They also anticipate the divestiture of assets such as Paramount+ and PlutoTV, as well as most of Paramount's linear TV channels. The estimated enterprise value of these divestitures is around $13.5 billion.

via Hollywood Reporter|
#business#hollywood-studios#paramount-global
business2 years ago

Stock Market Today: Dow Wavers as Fed Statements Clash and Software Earnings Loom

Disney CEO Bob Iger expressed contentment with his decision to return to the company despite facing numerous challenges. Disney's stock has hit multiyear lows, activist investor Nelson Peltz is pushing for board seats, the parks business is slowing, the linear TV division is declining, and the streaming business is not yet profitable. However, Iger remains optimistic about Disney's future, citing the company's strong brand and assets. He outlined four key building opportunities, including achieving profitability in the streaming business, improving the film studios' output and economics, and turbocharging growth in the parks and experiences business. Iger emphasized the need to assess the long-term potential of Disney's assets and prioritize future growth.

via Yahoo Finance|
#bob-iger#business#disney
business2 years ago

"Wall Street Rally Gains Momentum as Stocks Edge Higher in Today's Stock Market News"

Disney CEO Bob Iger expressed contentment with his decision to return to the company despite facing numerous challenges. Disney's stock has hit multiyear lows, activist investor Nelson Peltz is pushing for multiple board seats, and the company's parks business is slowing while its streaming business remains unprofitable. However, Iger remains optimistic about Disney's future, citing the company's strong brand and assets. He outlined four key building opportunities, including achieving profitability in the streaming business, improving the film studios' output and economics, and turbocharging growth in the parks and experiences business. Iger emphasized the need to assess the long-term potential of Disney's assets and prioritize future growth.

via Yahoo Finance|
#bob-iger#business#ceo
business2 years ago

Charter's Q3 Video Revenue Falls 9% Amid Disney Carriage Dispute

Charter Communications, the parent company of Spectrum TV, disclosed that it lost 320,000 video customers in Q3, attributing the decline partly to the temporary loss of Disney programming during their carriage dispute. The company's CFO stated that the impact on customer relationships was less than expected due to the availability of over-the-top alternatives. After reaching a new deal, Disney+ will be bundled into Charter's core video offering, but several Disney cable channels will be removed. Charter plans to pursue similar deals with other programmers and aims to modernize distribution agreements for mutual customer benefit. Charter also reported revenue growth driven by an increase in Internet and mobile customer relationships.

via Hollywood Reporter|
#business#charter-communications#customer-losses
entertainmenttech2 years ago

Warner Bros. Discovery's Max Reveals European Rollout Plans for 2024

Warner Bros. Discovery will launch its Max streaming service in 22 European countries, starting with a rollout across its continental footprint in the spring. The service will include live-streamed sports content from Eurosport and simulcasts of local entertainment networks. The U.K., German, and Italian markets are not included initially due to existing output deals with Sky. Warner Bros. Discovery plans to expand Max's availability in key Asia Pacific territories after the European launch. The company's president, Gerhard Zeiler, stated that Max was "getting slightly profitable" and that the era of underpriced streaming content is coming to an end.

via Hollywood Reporter|
#entertainmenttech#european-rollout#max-streaming-service
business2 years ago

Disney CEO Vows to Silence Culture War Noise

Disney CEO Bob Iger has stated that the company will "quiet the noise" in the ongoing culture wars that have involved social conservatives and the media conglomerate. This statement was made during an investor presentation where Iger also announced that Disney will double its investment in theme parks and cruise ships over the next decade. The company is facing challenges in making its streaming business profitable, improving film quality, and positioning ESPN for direct consumer streaming. Disney has been at the center of culture wars due to its criticism of Florida legislation and casting choices, but Iger emphasized that the company's primary mission is to entertain and have a positive impact on the world.

via Yahoo Finance|
#bob-iger#business#culture-wars
business2 years ago

Paramount's Failed Attempt to Sell BET Leaves Investors Disappointed

Paramount Global's stock dropped 2% after the company abandoned its efforts to sell a stake in BET Media Group, citing a lack of value creation and debt reduction. The company has been looking to streamline its operations and recently sold its book publishing unit, Simon & Schuster. Paramount, like other media companies, is facing a decline in pay-TV subscribers while trying to establish itself in the direct-to-consumer streaming business. Bidders for BET Media Group included Byron Allen, Shaquille O’Neal, Tyler Perry, and Sean “Diddy” Combs, with bids ranging between $2 billion and $3 billion. The division is seen as strategically valuable to Paramount despite challenges in the traditional TV business.

via Deadline|
#bet-media-group#business#debt-reduction
business2 years ago

Warner Bros. Discovery's Stock Continues to Rise with Debt Reduction.

Warner Bros. Discovery's stock rose for a second day after announcing it had paid down a portion of its debt load by repaying about $1.5 billion in debt on two of its loans and commencing a $500 million cash tender offer, resulting in $2.05 billion in second quarter debt reduction. The company has been contending with a heavy debt load stemming from the 2022 merger of Warner Bros. and Discovery and has been in the midst of various cost-cutting initiatives such as layoffs and content spending reductions. CEO David Zaslav recently said on a company earnings call that the streaming business is expected to reach profitability in the U.S. in 2023, a year ahead of its expectations.

via CNBC|
#business#cost-cutting#debt-reduction
business2 years ago

Paramount suffers major losses with dividend cut and earnings miss.

Paramount Global's weaker-than-expected Q1 results and dividend cut have caused concern among Wall Street analysts, with the stock down 25.2%. The company's streaming business recorded a wider loss of $511m, but experts called the result roughly in line with estimates. However, Paramount's free cash flow loss in particular widened, leading to a dividend cut and raising questions about the company's ability to generate positive free cash flow by 2024. Analysts suggest that forward earnings estimates have downside risk.

via Hollywood Reporter|
#business#dividend-cut#free-cash-flow