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The Latest Breaking News on Media

It’s not just Disney: Hollywood slashes jobs as streaming bubble pops

LOS ANGELES — Walt Disney Co. Chief Executive Bob Iger said last week that the Burbank company will be slashing 7,000 jobs as the firm’s streaming efforts continue to lose money and the wider economy wallows through a downturn.

Los Angeles Times

Is Disney Stock a Buy or Sell in 2023?

Amid a sudden change at the helm and challenged by losses in its streaming business, Disney (DIS) has a lot of near-term uncertainties to deal with. Let’s discuss why the stock might be best avoided now. Read on….

StockNews.com

Layoffs hit Showtime as Paramount overhauls 'Billions' brand

LOS ANGELES — Paramount Global continues to unwind its once-proud Showtime brand.

Los Angeles Times

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Disney's Bob Iger says ESPN is not for sale. Now the pressure is on

Walt Disney Co. Chief Executive Bob Iger this week announced a "major transformation" for the entertainment media giant, raising a familiar question from Wall Street: What will happen to ESPN?

Los Angeles Times

Disney’s job cuts affect theme parks, but frontline workers spared

Disney will be cutting jobs in its theme parks division as part of a move to lay off 7,000 workers across the company, the chairman of the group said in an email to employees Thursday.

Orlando Sentinel

News Corp job cuts: Rupert Murdoch’s Australian newspapers to axe one in 20 staff

Announcement comes after Rupert Murdoch’s global company posted 47% decline in quarterly earnings in news media

The Guardian - AU

Disney to cut 7,000 jobs as returned CEO Iger vows 'transformation'

The Walt Disney Co. will cut about 7,000 jobs as part of an ambitious companywide cost-savings plan and “strategic reorganization” announced Wednesday by CEO Bob Iger.

France 24

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Disney to cut 7,000 jobs in Bob Iger’s ‘transformation’ of entertainment giant

The cuts make up about 3% of Disney’s 220,000-person global workforce and come as the company beat Wall Street’s earnings forecasts.

Chicago Sun-Times

Disney to cut 7,000 jobs in Iger's company 'transformation'

The Walt Disney Co. says it will cut about 7,000 jobs as part of a “significant transformation” announced by CEO Bob Iger

The Independent UK

Disney’s Iger reveals 7,000 layoffs in restructuring move

Disney World CEO Bob Iger revealed plans Wednesday to lay off 7,000 workers of the company’s global workforce, about 3% of the workforce.

Orlando Sentinel

Bob Iger signals ‘significant transformation’ as Disney+ loses 2.4 million subscribers

Bob Iger is back at Walt Disney Co., but that doesn’t mean the entertainment giant is out of the woods yet.

Los Angeles Times

Disney World unions vote down offer covering 45,000 workers

Union members voted down a contract proposal covering tens of thousands of Walt Disney World service workers, saying it didn’t go far enough toward helping employees face cost-of-living hikes in housing and other expenses in central Florida

The Independent UK

Drake, worth £260m, wants more money from Spotify for streaming milestones

The singer hit 75 billion streams on the platform and called for a ‘bonus’

The Independent UK

Apple TV launch new streaming service that could lead to end of Premier League blackout rules

Apple TV has launched a new 'MLS Season Pass' service that will see every MLS match made available to stream live in one place with no blackout between fixtures.

Football London

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Axios

Spotify CEO Daniel Ek eyes elusive profits

His focus is on the bottom line, but he doesn't plan to pull back on audiobooks.

The Independent UK

Tesco reveals most popular meal deal choices

Tesco has launched Clubcard Unwrapped which will let loyalty card owners see data on their favourite meal deal, most frequent purchases, and how much they’ve saved.

The Independent UK

Tesco reveals most popular meal deal choices

Tesco has launched Clubcard Unwrapped which will let loyalty card owners see data on their favourite meal deal, most frequent purchases, and how much they’ve saved.

Evening Standard

Why did Rick and Morty creator Justin Roiland get fired by Hulu and Adult Swim?

The animated shows he worked on are set to continue without his involvement.

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Los Angeles Times

Hulu joins Adult Swim in cutting ties with 'Rick and Morty' co-creator Justin Roiland

LOS ANGELES — Hulu has severed ties with Justin Roiland, co-creator of its show "Solar Opposites" and the Adult Swim series "Rick and Morty," the company announced Wednesday.

Chicago Sun-Times

Sen. Dick Durbin and committee grill Ticketmaster after Taylor Swift concert sales fiasco

Los Angeles Times

Live Nation/Ticketmaster get bipartisan grilling in DC

It was only a matter of time before a politician awkwardly quoted Taylor Swift at Tuesday morning’s Senate Judiciary Committee hearing on Ticketmaster, Live Nation and the U.S. ticketing market.

StockNews.com

Spotify Lays Off 6% of Staff As Gross Margins Slump and ROIC Turns Negative

Recessions shine a light on weak companies, and SPOT may be serving as a reminder of that principle today.

The Guardian - UK

Spotify to cut 600 jobs after CEO admits to expanding too quickly

Music streaming service becomes latest tech firm to announce cuts after pandemic overexpansion

The Independent UK

Spotify latest tech name to cut jobs, axes 6% of workforce

Music streaming service Spotify says it’s cutting 6% of its workforce, becoming yet another tech company resorting to layoffs as the economic outlook worsens

Evening Standard

Spotify slashes 6% of workforce after revenue growth slows

The music streaming service has over 600 employees in the UK

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