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Business

Disney And Lantern Near Settlement For Weinstein Co. Film And TV Projects

As Lantern Entertainment looks to fully exploit the assets it acquired as part of its $289 million acquisition of The Weinstein Company assets, it is close to reaching a significant settlement with Disney, a stakeholder in some of the company’s film and titles. A person familiar with the discussions between Lantern and Disney characterized them as constructive and among many similar negotiations happening with other rights-holders, with the goal of removing any objections… Read

Business

Charter Launches Spectrum TV Essentials, A Sports-Free OTT Service For The Company’s Existing Internet Customers

Charter Communications, the No. 2 cable operator in the U.S., has announced plans to launch Spectrum TV Essentials, an OTT video service for the company’s existing internet customers who don’t already get pay-TV from Spectrum. Rolling out by the end of March, the service will cost $15 a month. It will offer live and on-demand programming from more than 60 lifestyle, entertainment and news channels owned by the likes of Viacom, Discovery, A+E Networks, AMC Networks and… Read

breakingBusiness

Laurene Powell Jobs’ Emerson Collective Buys Stake In Reese Witherspoon’s Hello Sunshine; Otter Media Ups Its Stake

Laurene Powell Jobs Reese Witherspoon

Reese Witherspoon's Hello Sunshine has received a funding infusion from Emerson Collective, the social change catalyst founded by Laurene Powell Jobs. Otter Media, the WarnerMedia company that invests in and launches global OTT media services, has also increased its stake in Witherspoon's company. Both investors are minority owners; Witherspoon and her management team remain majority owners. The investments will support the company's continue growth in the area of premium… Read

exclusiveBusiness

Donald Tang On The Implosion Of Global Road: “I Take Responsibility”

Donald Tang Global Road

EXCLUSIVE: It was only a year ago in Berlin that newly minted Global Road Entertainment CEO Rob Friedman told international buyers on the first day of the European Film Market that Global Road planned to spend $1 billion in film production over three years. The company would exploit an East-meets-West company that would meld the best of Hollywood and China, put together by Tang Media Productions chief Donald Tang with the bedrock of acquired companies IM Global and Open Ro… Read

Business

Turner Sports Promotes Bleacher Report Executive Howard Mittman To CEO

Turner

Turner Sports is promoting Bleacher Report’s Howard Mittman, a senior-level executive since 2017, to CEO of the digital brand as its founder, Dave Finocchio, moves closer to his planned exit. Mittman has been Chief Revenue Officer and Chief Marketing Officer of Bleacher Report since August 2017. He will report to Finocchio, the current CEO and founder, until Finocchio departs the company in June. At that point, Mittman will report to Matt Hong, COO of Turner Sports, who… Read

Business

Viacom Networks Joining FuboTV’s Streaming Lineup In Carriage Deal

Viacom and FuboTV have set a carriage deal that will put nine of the programmer’s networks on the virtual MVPD’s basic tier. The networks covered by the deal include BET, CMT, Comedy Central, MTV, Nickelodeon, Nick Jr., Paramount Network, TV Land and VH1. Other Viacom networks will also be available in a higher Fubo tier, among them BET Her, BET Jams, BET Soul, Logo, MTV2, MTV Classic, MTV Live, mtvU, Nick Music, Nicktoons, and TeenNick. Viacom's Telefe and MTV Tr3s… Read

Business

Disney-Fox Reality Check: Combined Company Will Profit From Deal, But Only After Streaming Spending Spree – Analyst

20th Century Fox Disney

When Disney’s $71.3 billion deal to acquire most of 21st Century Fox closes in the coming weeks, the combined company will remain an appealing target for investors, but only those willing to indulge hefty near-term spending on direct-to-consumer streaming. That’s the basic takeaway from a new research report by Macquarie analysts Tim Nollen and Stephen Beckett. In the 18-page note to clients, the analysts reiterate their “outperform” rating on the stock, which has moved… Read

Business

Clevver Finds New Home At Hearst Magazines After Defy Media Meltdown

Clevver has found a new home for its stable of YouTube channels with female appeal after former parent Defy Media ceased operations last fall. Hearst Magazines has acquired the portfolio, which reaches an audience of 15 million subscribers. Like all traditional magazine publishers facing declines in the print business and headwinds in advertising, Hearst has spent the last several years exploring digital media, especially through properties whose demographic appeal… Read

Business

Disney Plans Unified October Merchandise Launch For ‘Frozen’ And ‘Star Wars,’ With Push For ‘Mandalorian’ Spinoff On Disney+

Disney CinemaCon 2018

With new Frozen and Star Wars installments due at the end of the year, Disney is designating October 4 for the launch of consumer products tied to the two major franchises. The date is the company’s first global, simultaneous rollout for two major properties. Along with all of the merch, “Triple Force Friday” will promote the live-action Star Wars spinoff series The Mandalorian, which is set to go live on streaming service Disney+. The company has yet to confirm pricing… Read

Business

CBS Q4 Earnings Undershoot Wall Street Estimates Due To Entertainment Dip

CBS Corp

CBS Corp. reported fourth-quarter earnings that fell short of Wall Street analysts’ expectations, largely due to a dip in its Entertainment unit caused by timing of international licensing deals and tough comparisons with domestic sales in the year-ago quarter. Revenue came in at $4 billion, up 3% from the same quarter in 2017, but below the consensus estimate of $4.19 billion. Diluted earnings per share from continuing operations totaled $1.49 and $1.50 on an adjusted… Read

Business

CBS Offers Voluntary Buyouts To Veteran Employees, Mirroring HBO Move

CBS is offering buyouts to veteran employees in multiple divisions, a source has confirmed to Deadline. Buyout packages are voluntary, the source said, and available only to workers whose age added to their years of service at the company total 80 or more. The projected number of buyouts is difficult to forecast, the source said. The move is similar to buyouts disclosed late Friday by WarnerMedia’s HBO, which extended them to workers 55 and older with at least 10 years of… Read

Business

Univision Posts Soft Q4 Results, But CEO Vince Sadusky Upbeat About Dish Truce: “It’s Down To A Matter Of Value”

Univision swung to a loss in the fourth quarter, blaming a downturn in revenue in part on a months-long carriage dispute with Dish, but CEO Vince Sadusky expressed guarded optimism about a resolution to the impasse during a conference call with analysts. Univision posted an operating loss of $40.2 million, compared with income of $390 million in the year-earlier quarter. Total revenue decreased 8.9% to $688.5 million from $755.5 million. With a massive executive turnover… Read