Financial
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Bob Iger Steps Down From Apple Board as Streaming War Heats Up
On the heels of Apple’s launch and pricing announcement about its new streaming service, the tech giant has announced that Walt Disney Co. CEO Bob Iger has stepped down from its board. In a Sept. 13 SEC Filing, Apple disclosed that Iger resigned Sept. 10. Apple Sept. 10 announced its service Apple TV+ would bow … Continue reading “Bob Iger Steps Down From Apple Board as Streaming War Heats Up”
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Netflix Greenlights First Animated Feature Film
Netflix has entered into a multiyear overall deal with Kuku Studios, under which its key members — Alex Woo, Stanley Moore, Tim Hahn and Erik Benson — will exclusively produce animated films and series for the SVOD pioneer worldwide. KuKu Studios’ credits include Disney’s Ratatouille, WALL-E, Toy Story 3, Monsters University and Finding Dory, among … Continue reading “Netflix Greenlights First Animated Feature Film”
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Bob Iger Steps Down From Apple Board as Streaming War Heats Up
On the heels of Apple’s launch and pricing announcement about its new streaming service, the tech giant has announced that Walt Disney Co. CEO Bob Iger has stepped down from its board. In a Sept. 13 SEC Filing, Apple disclosed that Iger resigned Sept. 10. Apple Sept. 10 announced its service Apple TV+ would bow … Continue reading “Bob Iger Steps Down From Apple Board as Streaming War Heats Up”
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NPD: August Video Game Sales Declined Double Digits
Retail sales of video games and hardware continue to suffer in an age of online gaming and lack of new-edition consoles. The NPD Group reported that overall game sales fell 18% in August to $666 million, compared with $812 million in the previous-year period. Through Aug. 31, total game spending for the year is down … Continue reading “NPD: August Video Game Sales Declined Double Digits”
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AT&T CFO Backs John Stankey, Downplays Apple TV+ Impact on HBO Max
The day after Apple announced pricing/content updates for its Apple TV+ subscription streaming service, and an activist investor called for the ouster of AT&T’s CEO and COO, the telecom’s CFO John Stephens came out swinging. Speaking Sept. 11 at the Bank of America Merrill Lynch Media, Communications & Entertainment Brokers Conference in Los Angeles, Stephens … Continue reading “AT&T CFO Backs John Stankey, Downplays Apple TV+ Impact on HBO Max”
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GameStop to Close 200 Underperforming Stores, With More to Follow
Following a nightmarish fiscal quarter, GameStop said it plans to shutter upwards of 200 underperforming stores nationwide, with more closures to follow. CFO James Bell disclosed the move during the retailer’s Sept. 10 fiscal call that followed a second quarter (ended Aug. 3) that saw the company post a net loss of more than $400 … Continue reading “GameStop to Close 200 Underperforming Stores, With More to Follow”
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GameStop Q2 Fiscal Loss Skyrockets; CEO ‘Acting with a Sense of Urgency’
As expected, fiscally challenged GameStop Sept. 10 posted second-quarter results that continue to question the world’s largest video game retailer’s future amid a retail gaming landscape in flux. GameStop’s net loss of $415.3 loomed large over a net loss of $24.9 million in the prior-year quarter, which included the sale of Spring Mobile business. The … Continue reading “GameStop Q2 Fiscal Loss Skyrockets; CEO ‘Acting with a Sense of Urgency’”
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Activist Investor Seeks Ouster of AT&T CEO Randall Stephenson, COO John Stankey
With AT&T spending more than $163 billion acquiring DirecTV and Time Warner (now WarnerMedia), the telecom remains challenged paying down debt and orchestrating a clear strategy for the combined assets in an age of cord-cutting. That appears to be the gist why activist investor Paul Singer’s Elliott Management sent a 24-page letter to the AT&T … Continue reading “Activist Investor Seeks Ouster of AT&T CEO Randall Stephenson, COO John Stankey”
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Mark Cuban Sells Majority Stake in AXS TV, HDNet Movies Network
Dallas Mavericks owner and “Shark Tank” alum Mark Cuban Sept. 9 disclosed he has sold majority stake in AXS TV and HDNet Movies Network to TV personality Steve Harvey and Anthem Sports. Anthem Sports will assume operating management of the two channels that cater to music, sports, entertainment and lifestyle audiences. The deal also includes … Continue reading “Mark Cuban Sells Majority Stake in AXS TV, HDNet Movies Network”
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Netflix Stock Up as App Downloads Surge
Shares of Netflix are up 3% Sept. 9 in midday trading following a Wall Street report outlining a surge in downloads of the SVOD behemoth’s app. Apps are indicative of video streaming outside the traditional in-home television on portable devices such as cell phones, tablets and laptops. Data from Bank of America Merrill Lynch found … Continue reading “Netflix Stock Up as App Downloads Surge”
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FTC Fines Google $170 Million for Profiting on YouTube Children’s Videos
Google and its subsidiary YouTube will pay a record $170 million to settle allegations by the Federal Trade Commission and the New York Attorney General that YouTube illegally collected personal information from children without their parents’ consent. The settlement requires Google and YouTube to pay $136 million to the FTC and $34 million to New … Continue reading “FTC Fines Google $170 Million for Profiting on YouTube Children’s Videos”
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‘Game of Thrones,’ ‘Big Little Lies’ Drive HBO Nordic Sub Growth
Scandinavia (especially Sweden) has long been a hotbed for subscription streaming video. HBO launched its first over-the-top video service — HBO Nordic — long before the domestic rollout of HBO Now in 2014. HBO Nordic remains a formidable competitor to Netflix and other local SVOD services notably this year thanks to “Game of Thrones” and … Continue reading “‘Game of Thrones,’ ‘Big Little Lies’ Drive HBO Nordic Sub Growth”