Latest Business News

The Night State Sen. Ron Calderon Offered To Sell Out The Film Industry For A Bribe

Ron Calderon

It was a warm Southern California evening that second night of summer 2012 when California state Sen. Ron Calderon sat down for dinner with an indie producer and explained how he would threaten to let the state's film incentives program "fall apart" in exchange for the bribe he'd just been offered to help the producer get what he wanted. Calderon didn't know it, but the producer sitting across the table from him was actually an undercover FBI agent, and this was part of… Read

Axium Ex-Boss Convicted Of Tax Evasion; Company Was Showbiz Payroll Powerhouse Before Collapsing


The former CEO of Axium International, once one of the entertainment industry's leading payroll companies, has been convicted of tax evasion, conspiracy to defraud the IRS and filing a false tax return. John Visconti, 74, was found guilty of the charges by a federal jury Wednesday following a one-week trial in U.S. District Court in Riverside, CA. It marks the final chapter in the spectacular collapse of a company that specialized in the administration of state tax… Read

SAG-AFTRA Vidgame Strike: AFL-CIO Calls On Industry To Resume Talks


AFL-CIO president Richard Trumka has called on the video game industry to return to the bargaining table to end SAG-AFTRA's weeklong strike against 11 video game companies. "The AFL-CIO stands in solidarity with the SAG-AFTRA voice-over and motion-capture performers who are on strike after failed negotiations with 11 video game employers," Trumka said in a statement. "Performers deserve a modern contract that offers the protections necessary to work in today's video game… Read

Viacom Board Poised To Give CEO Job To International Networks Chief Bob Bakish

Mandatory Credit: Photo by Chelsea Lauren/Variety/REX/Shutterstock (5731081aa)
Bob Bakish
Tune In! Variety's TV Summit, Los Angeles, USA - 14 Jun 2016

Barring a last minute change in sentiment — still a possibility — Viacom’s board seems poised to vote Monday to hand International Media Networks CEO Bob Bakish the company’s top job beginning November 15 when interim CEO Tom Dooley steps down. More than a month ago, when Dooley said he would not stay, Deadline identified Bakish as one of two internal candidates with the inside track for the job. CFO Wade Davis was the other apparent contender. Bloomberg reported last… Read

Battling Times Square, Propping Up Clinton And Cheering Jake Gyllenhaal: Gerard & Roth

Lin-Manuel Miranda at Broadway's Hillary Clinton fund-raiser.

EXCLUSIVE: Deadline's Jeremy Gerard and Jujamcyn Theatres majority owner and president Jordan Roth talk about the state of the industry, the only stipulation being no holds barred. GERARD: Deadline announced this morning that a special Gotham Award will be presented November 28 to the New York City Mayor’s Office of Movies And Entertainment in honor of its 50th anniversary. "MOME has played an integral role in the growth and prosperity of the media industry in New York… Read

Amazon Shares Fall After It Reports Q3 Earnings Miss


Amazon shares are down about 6% in post market trading after the e-retailer released Q3 earnings that fell short of Wall Street expectations. The company reported net income of $252 million, up about 219% from the period last year, on revenues of $32.71 billion, up 29%. The top line slightly beat expectations for $32.69 billion. But earnings at 52 cents a share missed analysts’ forecast for 78 cents. Amazon told investors to expect Q4 operating income of anywhere from… Read

Peter Bart: Euros Baffled By U.S. Mega-Deals, But Still Hustle For U.S. Tourists


Having spent the last two weeks in Europe, I've found that Euro media players are baffled by almost everything that's taking place in the U.S. – a unique disconnect. Every manifestation of Trumpism bewilders them; even the media mega-deals are disturbing. Deals like AT&T-Time Warner in their minds portend exactly the kind of oligopoly and content concentration that Europeans would like to escape. "The prospect of CNN disappearing into an anonymous multinational… Read

FCC Adopts Internet Consumer Privacy Protections, Drawing Industry Fire

Federal Communication Commission (FCC) ChairmanTom Wheeler, center, joins hands with FCC Commissioners Mignon Clyburn, left, and Jessica Rosenworcel, before the start of their open hearing in Washington, Thursday, Feb. 26, 2015. Internet service providers like Comcast, Verizon, AT&T, Sprint and T-Mobile would have to act in the "public interest" when providing a mobile connection to your home or phone, under new rules being considered by the Federal Communications Commission. The rules would put the Internet in the same regulatory camp as the telephone, banning providers from "unjust or unreasonable" business practices. (AP Photo/Pablo Martinez Monsivais)

Internet service providers are taking aim at the FCC today after the agency, in a 3-2 vote along party lines, adopted rules that require cable and phone companies to secure consumers’ permission before using or sharing data about their web use. Chairman Tom Wheeler called this a “significant step to safeguard consumer privacy in this time of rapid technological change, as we adopt rules that will allow consumers to choose how their Internet service provider uses and… Read

Twitter To Cut Vine As Part Of Company Restructuring


Twitter said today that it will discontinue shortform video service Vine’s mobile app “in the coming months” but keep the website. The announcement follows the disclosure this morning that it will slash about 9% of its workforce in a restructuring. Users still will “be able to access and download your Vines,” the company said in a blog post. “We'll be keeping the website online because we think it's important to still be able to watch all the incredible Vines that have… Read

Jeff Sagansky & Harry Sloan Looking At Playboy (For A Deal, Not The Photos)


They won’t be able to hold extravagant parties at the Playboy Mansion. But longtime entertainment execs Jeff Sagansky and Harry Sloan soon might own what’s left of the Playboy Enterprises empire that Hugh Hefner created. They’re in advanced talks with Rizvi Traverse about a deal that would include Playboy and possibly other assets the private-equity firm owns. It picked up a majority stake in the company in 2011 as part of a $207.3 million buyout, leaving Hefner with… Read

Suspect In Destruction Of Donald Trump’s Walk Of Fame Star Arrested By LAPD – Update


UPDATE, 8:14 AM: Jamie Otis is now in police custody and waiting to be formally booked at the Men’s Central jail in downtown L.A. The suspect in the early Wednesday morning destruction of Donald Trump’s Hollywood Walk of Fame star was arrested by the LAPD sometime around 7 AM today, sources confirm. Otis had planned to hold a press conference at 9:30 AM this morning on Hollywood Blvd at the location of the already being repaired Trump star. Accompanied by his lawyer, Otis… Read

Chris Petrikin Exiting 20th Century Fox; Will Launch Communications & Crisis Management Consultancy

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Twentieth Century Fox Chief Communications Officer and respected industry veteran, Chris Petrikin, has set his departure from the studio at the end of 2016. The exec will then form a strategic communications and crisis management consultancy — with Fox as a client. Until his exit, Petrikin will continue working in his current role with the studio and will assist Fox Chairman and CEO Stacey Snider to transition the post. Petrikin said today, "For the last decade, my Fox… Read