Latest Business News
Vince McMahon to Sell $311M in TKO Stock to the Company and Endeavor
At Wrestlemania 40 this past weekend, WWE chief content officer Paul “Triple H” Levesque took to the stage at Lincoln Financial Field in Philadelphia and opened the events by declaring it a “new era” for the company. It was the first Wrestlemania to be held under the ownership of TKO Group Holdings, formed when Endeavor […]
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Workers at Cinema Village, One of New York’s Oldest Art Theaters, Launch Unionization Drive
Another group of workers at a storied New York cinema is launching a unionization effort with the United Auto Workers. Following the recent success of organizing drives at Film Forum, Anthology Film Archives and Nitehawk Cinema in Prospect Park, employees at Cinema Village in Greenwich Village petitioned on Friday for a union election with the […]
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AMC Theatres CEO Adam Aron’s Pay Rises to $25.4M In 2023
AMC Theatres CEO Adam Aron received compensation of $25.4 million in 2023, up from $23.7 million in 2022 and $18.9 million in 2021, according to the cinema giant’s proxy statement filed with the Securities and Exchange Commission. That included a base salary of $1.5 million, stock awards of $17.9 million and non-equity incentive plan compensation […]
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IATSE Local 871 Reaches a Tentative Agreement on Craft-Specific Issues
IATSE Local 871 — the Hollywood crew union that bargains of behalf of script supervisors, art department coordinators and accountants, among others — has reached a tentative deal with studios and streamers on its craft-specific issues. The Local reached a provisional agreement with the Alliance of Motion Picture and Television Producers on Wednesday night after […]
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Longtime ESPN Executive Norby Williamson to Exit
One of ESPN’s most senior executives is leaving the sports giant. Norby Williamson, a 40-year ESPN veteran who was the head of events and studio production, will leave the company Friday, ESPN president of content Burke Magnus wrote in a memo to staff. “Almost 40 years ago in 1985, I was so very fortunate to […]
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Author Jennifer Weiner Signs With Verve (Exclusive)
Jennifer Weiner, the author of the Good in Bed novel being produced by Mindy Kaling for Max, has signed with Verve for film and TV representation. The bestselling author, backed by Verve, will look to future screen adaptations of her library titles as they find new audiences. In all, she has written 21 books, with 11 […]
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DreamWorks Animation Production Workers Vote to Join the Animation and Editors Guilds
DreamWorks Animation production workers are joining their artist and technician colleagues in being represented by the Animation Guild and their editor colleagues in being represented by the Motion Picture Editors Guild. In an election with the National Labor Relations Board, 94 production workers who work on television and feature films at the brand voted to […]
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How Hollywood’s Most-Feared AI Video Tool Works — and What Filmmakers May Worry About
As generative artificial intelligence marches on the entertainment industry, Hollywood is taking stock of the tech and its potential to be incorporated into the filmmaking process. No tool has piqued the town’s interest more than OpenAI’s Sora, which was unveiled in February as capable of creating hyperrealistic clips in response to a text prompt of […]
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Why Paramount Got a Stock Upgrade Amid Open Deal Questions
With Skydance Media in an exclusive period to possibly finalize a deal to acquire Paramount Global and its controlling shareholder National Amusements (NAI), Wall Street analysts are discussing key open questions, such as the financing of a transaction and how it can be structured to satisfy shareholders beyond NAI boss Shari Redstone. But despite the […]
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Nelson Peltz Says Elon Musk “Has No Ego,” Says “Ego in the Room” Responsible for Disney Loss
Fresh off his bruising loss in the proxy fight against The Walt Disney Co., the activist investor Nelson Peltz appeared on CNBC to discuss the fight in a conversation with Jim Cramer. “I’m willing to give them the opportunity to prove me wrong; I’m willing to give them the opportunity to do as they say,” […]
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Bob Iger on “Woke” Disney Criticism: “A Lot of People Don’t Even Understand Really What It Means”
With the Nelson Peltz proxy fight in the rearview mirror, Disney CEO Bob Iger says that he is now free to focus on moving the company forward, with succession being a top priority. In a wide-ranging interview with CNBC on Thursday morning, Iger said that in meeting with shareholders over the past few months, succession […]
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As Disney Wins Proxy Battle, Wall Street Is Wait-and-See On If Bob Iger Can Land Succession
After Wednesday’s annual shareholder meeting — featuring CEO Bob Iger successfully fending off dissident investors, led by Trian’s Nelson Peltz — Wall Street experts are gaming out the next steps Disney may take as it plots out room for growth. Analysts took stock of the vote’s impact on and outlook for Disney, its stock, and […]
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Spotify Names Christian Luiga CFO
Music streaming giant Spotify Technology said Thursday that it has appointed Christian Luiga as its new chief financial officer. The executive joins Spotify, led by CEO Daniel Ek, from Saab AB, a European defense and security company, where he served as deputy CEO and CFO. He replaces Paul Vogel. Spotify had in December announced that Vogel […]
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Paramount Global Stock Price Soars as Skydance Media Deal Talks Progress
Paramount Global shares are soaring as talks of a deal with Skydance Media continue to heat up. The stock price rose by 15 percent Wednesday, all in the minutes leading up to the market close, after The Wall Street Journal reported that Paramount and its controlling shareholder National Amusements, led by Shari Redstone, have agreed to an […]
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Disney, ABC and John Ridley Sued For Discrimination By Former Development Executive
Disney has been hit with a new lawsuit from a development executive over allegations that she was underpaid because she’s an Asian American woman. Asta Jonasson, in a lawsuit filed on Wednesday in Los Angeles Superior Court, claims she was discriminated against by director John Ridley, whose production house has an overall deal with Disney […]
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Fox Sports, AEG Take Shot at New College Hoops Tournament
Fox Sports broadcast more than 300 college basketball games this season — but zero NCAA Tournament contests, as those rights are locked up by CBS and Warner Bros. Discovery. So the network, along with live event promoter AEG, is launching a tournament of its own. The two companies on Wednesday announced the College Basketball Crown, a […]
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