Hints and tips:
...US networks Fox and NBCUniversal reported that advertising revenue was falling, while publishers such as News Corp, The New York Times and the UK’s Reach have posted declines....
...Wall Street to Hollywood Despite being an entertainment outsider, Mike Cavanagh’s years spent steering JPMorgan through the financial crisis made good practice for his latest role turning round NBCUniversal...
...This comes after the largest US media companies — Disney, Warner Bros Discovery, Paramount and NBCUniversal — collectively lost more than $10bn in operating income in 2022 because of their push into streaming...
...NBCUniversal has a lot invested in the Games....
...As the news cycle has calmed under Joe Biden’s presidency and the pandemic has eased, US media groups have suffered dramatic audience declines, with primetime ratings for cable television news networks CNN...
...All this must resemble a confusing white-noise TV picture for consumers as the streaming players, who also include Hulu and NBCUniversal's Peacock, strive for the right mix and price for live TV and on-demand...
...America’s traditional media empires are spending tens of billions of dollars as they fight back against technology groups that have ravaged their business....
...Hulu was conceived in 2006 as a joint venture among traditional media companies NBCUniversal and News Corp, which were looking to get into the online video business....
...As a result, Adam Neumann, the company’s founder, and other insiders with a stake in the underlying LLC will receive tax benefits once the IPO is complete....
...Disney’s push into streaming comes as the traditional television business has stalled, spurring media companies to re-evaluate their strategies....
...Now that the Department of Justice has sued to block the AT&T-Time Warner deal, the companies will cite that previous approval in court as they try to convince a judge to ignore the objections....
...Judge Leon approved a similar order in the merger of Comcast and NBCUniversal in 2011. The order expires this year....
...The venture is part of WndrCo LLC, the digital media and technology investment he started after selling DreamWorks Animation to NBCUniversal for $3.8bn in 2016....
...AT&T has also cited Comcast’s 2011 acquisition of NBCUniversal as a precedent....
...Comcast’s NBCUniversal owns the NBC broadcast network, as well as portfolio of cable channels and the Universal film studio and it is also an investor in Hulu....
...“There may be opportunities for us to create more value for our shareholders, like we did with NBCUniversal [the media group Comcast bought in 2009]....
...The growing popularity of online video services such as Netflix, Hulu and Amazon are weighing on traditional pay-TV operators, leading to declines at companies such as AT&T and Verizon....
...Before the DoJ sued to block the transaction, officials told AT&T it would need to sell Turner, the unit that houses the cable news network, as one option to receive regulatory approval, according to people...
...Mr Freer is Hulu’s third chief executive since it was created by a consortium of traditional media companies in 2008....
...At NBCUniversal, revenue grew 17.3 per cent to $8.3bn and adjusted earnings jumped 22.6 per cent to $2.07bn....
...“The rule of law is at issue here,” said Randall Stephenson, AT&T’s chief executive, framing its predicament as standing for a broader principle....
...It had an immediate effect, with dozens of brands such as BMW and Kellogg’s, yanking ads from the site. The same campaign targeted retailers carrying Ivanka Trump’s clothing line....
...HBO’s distribution deal with Comcast, America’s largest cable operator and the owner of NBCUniversal, was also up for renewal....
...In April Comcast’s NBCUniversal bought DreamWorks Animation for $3.8bn....
...The service was launched in 2008 as a joint project of NBCUniversal, now owned by Comcast, and News Corp, then-owner of Fox, with Disney taking a stake in 2009....
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