Business
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Disney, Comcast, Lionsgate and WBD Ad Spend on Elon Musk’s X Falls 98%
The companies collectively spent less than $3.3 million on the social media platform from January to September, compared to $170 million a year ago, according to MediaRadar
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Hallmark Media Taps Google’s Jesse Wallace as Head of Distribution
The former Google and NFL executive will be based in New York City and report directly to COO John Matts
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Nielsen CEO Says Paramount Is Demanding ‘Nearly 50%’ Price Reduction in Contract Dispute
“We cannot reset the value of our services to a fraction of their worth due to the circumstances and demands of one client,” Karthik Rao told clients in a memo
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Dotdash Meredith Cuts 53 Jobs as Print Business Remains ‘Challenged’ | Report
CEO Neil Vogel says the company is “not closing any print magazines,” despite those challenges, according to an email obtained by Axios
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Disney CEO Bob Iger to Sell Off Up to $41 Million in Shares
The move is part of an SEC rule that lets the executive exercise vested stock options that expire on Dec. 18, after they were granted to him 10 years ago in 2014
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Next Trump Administration Will Likely Relax M&A Enforcement – Except for His Foes, Say Experts
When it comes to policy, the president-elect’s second term will be like “a movie sequel” to his first, one antitrust attorney says
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Politics
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Disney Swings to Streaming Profit of $321 Million in Q4, $134 Million for 2024
The company touted one of its best quarters for its film studio, but results were weighed down by its entertainment linear networks and lower profits in sports and Experiences
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Netflix VP of Film Niija Kuykendall to Exit
The exec will leave at the end of the year following a transitional period
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CAA Taps John Storey as Chief Financial Officer
The Asurion executive replaces Carol Sawdye, who has served as the agency’s CFO since 2021
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DirecTV Threatens to Walk Away From Dish Acquisition Over Debt Exchange Dispute
The deal between the rival satellite TV giants for $1 plus $9.75 billion in debt is contingent upon Dish’s bondholders agreeing to a debt exchange
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Inside Skydance Media’s Financials: David Ellison’s Studio Has Mostly Lost Money Since 2021
The private company, valued at $4.75 billion in its $8 billion Paramount merger deal, relies on licensing deals with Netflix and Apple, an SEC filing reveals
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Amazon to Shut Down Freevee in Consolidation to Prime Video
Original series like “Jury Duty” and “Bosch: Legacy” will remain on Prime Video without a paywall
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Spotify’s Q3 Profit Quadruples as Streamer Tops 250 Million Subscribers
The music streaming giant boosted subscribers by 12%, or 6 million, to hit 252 million during the quarter.
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Media
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Paramount Shareholder Mario Gabelli Asks FCC to Pause Skydance Deal to Internally Review Potential ‘Violations’
The letter comes after the GAMCO Investors Inc. chairman filed a books and records request seeking more specifics about the $8 billion merger deal
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The CW Lays Off Over 2 Dozen Employees Across Scripted, Publicity Divisions
The network’s cuts come amid a shift towards sports and unscripted content
