Latest Business News
Lionsgate Reorganizes eOne Canada TV Team Post-Merger
Entertainment One in Canada has restructured its scripted and unscripted TV business after the former Hasbro film and TV division was sold to Lionsgate as part of a $500 million deal. The post-merger management ranks from April 1 will see Kerry Appleyard join eOne Canada as senior vp of scripted and unscripted, and run both […]
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Oprah Winfrey Leaves WeightWatchers Board After Disclosing Use of Weight Loss Medication
Oprah Winfrey is parting ways with WeightWatchers after nearly 10 years on the company’s board of directors. The company says that Winfrey told the board this week that she would not stand for reelection at the company’s next annual meeting, set for May 9. Winfrey has been a board member and a public face for […]
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Paramount Focuses on Earnings Growth But Wall Street Lacks Enthusiasm
The stock of Paramount Global, led by CEO Bob Bakish, was in Wall Street analysts’ focus on Thursday as they dissected its fourth-quarter 2023 earnings report from late Wednesday for signs of its outlook and possible deal future. As of Thursday morning, several analysts spoke of a stabilization of sorts in Paramount’s business trends, with […]
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MHz Choice, Topic to Merge, Creating International TV Streamer for North America
Kino Lorber’s streaming platform MHz Choice is merging with First Look Media’s Topic platform to create a single North American streamer, operating under the MHz Choice brand, specializing in international series and films for the domestic market. Kino Lorber and First Look Media launched a joint venture in 2022 that bundled their streaming activities. The […]
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Podcasts Drive Revenue As iHeartMedia Looks for Broader Ad Market Recovery
Podcast revenue at iHeartMedia continued to grow in its fourth quarter, reaching $132 million for the quarter, up 17 percent year-over-year. The increase, which the company attributed to continued increases in demand for advertising in the medium, drove the 6 percent increase in revenue for the digital audio group, which contains podcasting – without it […]
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PETA Accuses ‘Will Trent’ Trainers of Animal Neglect
People for the Ethical Treatment of Animals (PETA) ran an undercover sting on a Georgia-based animal training firm that services the major studios and networks. Then the activist group filed a Feb. 21 complaint with the U.S. Department of Agriculture alleging violations of the federal Animal Welfare Act, The Hollywood Reporter has learned. The USDA’s […]
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Fremantle Names New Wildside, Apartment CEOs, Inks Co-Pro Deal With ‘New Pope’ Producers
Fremantle has appointed new bosses for its Italian production subsidiaries The Apartment and Wildside but will continue to work with outgoing CEOs Lorenzo Mieli and Mario Gianani. Fremantle on Thursday announced that Annamaria Morelli will be taking over as CEO of The Apartment and Sonia Rovai as CEO of Wildside. Fremantle said both companies will […]
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Ex-HBO Europe Execs Launch Romanian TV Company
Former HBO Europe executives Jonathan Young and Ioannina Pavel have launched a new production company, May One, aiming to develop and produce high-end TV drama in Romania for local and international audiences. The veteran TV execs have been involved in several high-profile HBO productions shot in Eastern Europe, including the award-winning Polish series Wataha (The […]
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Paramount, Citing Experiment During Strikes, to Cut Costs Per Title For Films, Series
After the Writers Guild and SAG-AFTRA strikes last year, and with every streaming service now laser-focused on profitability, Hollywood has been keeping a close watch on efforts to adjust content spend, either reducing spend overall, or finding ways to change the cost structure. At Paramount, reducing that programming spend has now become a top corporate […]
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Taylor Swift, Beyoncé Drove “Literally All” of AMC Theatres’ Quarterly Revenue Increase
AMC Theatres beat Wall Street expectations, reporting fourth-quarter revenue of $1.10 billion, up from $990.9 million in 2022 and a net loss of $182 million, compared to a net loss of $287.7 million in 2022. For the full year, the theater chain reported total revenue of $4.8 billion, up from $3.9 billion in 2022. Net […]
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Paramount+ Hits 67.5M Subscribers As Streaming Loss Shrinks to $490M
Paramount Global hit 67.5 million Paramount+ streaming subscribers worldwide at the end of its fourth quarter, a gain of 4.1 million from the previous financial quarter. The Hollywood conglomerate, with its future the subject of mounting speculation on Wall Street, on Wednesday said it expected to deliver “significant total company earnings growth” in 2024, and reach […]
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More News Publishers Sue OpenAI Over Copyright Claims As Legal Strategy Shifts
As battle lines are being drawn between artificial intelligence companies and news publishers, a trio of media companies have taken a legal shot at OpenAI and Microsoft. Two lawsuits — one filed by The Intercept and another by Raw Story and Alternet in New York federal court on Wednesday — accuse the firms of taking […]
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Regal Cinemas’ Post-Bankruptcy Plan Revealed By CEO
Eduardo Acuna, CEO of Regal Cinemas owner Cineworld Group, says his movie theater chain is well-positioned for post-pandemic and post-bankruptcy growth amid Hollywood’s box office recovery. “I think it’s a very pivotal moment in our history,” Acuna told The Hollywood Reporter in an interview on Wednesday via Zoom while seated in a giant 4DX auditorium […]
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Dan Lin Tapped to Replace Scott Stuber as Netflix Film Boss (Exclusive)
Dan Lin, the producer behind the Lego movies and the new live-action adaptation of Avatar: The Last Airbender, has been tapped as the new head of film for Netflix, according to sources. Lin steps into the role vacated by Scott Stuber, who announced in January he would step down in March. Lin’s name had been […]
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Taylor Swift, Rolling Stones Help Drive Universal Music Group Quarterly Results
Universal Music Group, whose artist roster includes the likes of Taylor Swift and Olivia Rodrigo, reported improved fourth-quarter financials. Quarterly revenue rose 9 percent, or 15.6 percent on a constant currency basis, to 3.2 billion euros ($3.5 billion), with UMG touting “strong growth across all segments.” It cited album top sellers from the likes of […]
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CNN Gives Phil Mattingly New Role After Morning Show Cancellation
CNN has found a new role for Phil Mattingly. The veteran journalist will become the channel’s chief domestic correspondent and an anchor, delivering enterprise reporting and filling in as a host on programs across the daypart. Mattingly, whose first assignment will be covering Donald Trump’s 2024 presidential campaign, will also appear in 2024 convention programming, […]
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