Business
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Cinemark Q2 Profits Drop 62% to $45.8 Million, but ‘Inside Out 2’ Helps Avoid a Loss
The Texas-based multinational chain weathered a poor box office in April and May
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Business
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LA28 Olympics Silent on $350,000 Salary for Casey Wasserman’s Former Secretary and Alleged Mistress
A Daily Mail exposé says the mogul’s affair with former staffer Patricia Feau was an “open secret” before she moved to LA28, where Wasserman serves as chair
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Apple Reports Record Q3 Revenue of $85.8 Billion, With AI Expansion on the Horizon
The tech giant’s Services net sales, which includes Apple TV+ and Apple Music, rose 14% year-over-year to $24.2 billion
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Business
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Roku Slashes Q2 Net Loss 68% to $34 Million
Shares rose over 6% in after-hours trading as the company posted a smaller than expected loss of 24 cents per share and better than expected revenue of $968 million
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Business
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LA 2028 Olympics Chair Casey Wasserman Accused of Being a ‘Serial Cheater’ Who Chronically Sleeps With Female Staffers
Allegations against the music mogul behind Billie Eilish and Ed Sheeran date back nearly 20 years
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Curtis ’50 Cent’ Jackson, Lionsgate Team Up on Action-Focused FAST Channel
50 Cent Action will be backed by the studio’s library of over 20,000 titles, including “The Expendables,” “The Hitman’s Bodyguard,” “Rambo” and “Power”
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Consolidation and Streaming Are Making Hollywood Back-End Deals Less Transparent Than Ever
The industry’s increasing vertical integration makes keeping track of fair market value “more important than ever,” experts tell TheWrap
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Venu Sports Sets Launch Price of $42.99 Per Month
Fox, Disney and Warner Bros. Discovery’s joint sports streaming venture is slated to launch this fall
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Meta’s Push Into AI Development Shows Promise With 73% Surge in Net Income
The tech giant beat Q2 estimates, reporting revenue of $39.1 billion, up 22% from 2023
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AI
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Disney Entertainment Television Lays Off 140 Staffers, Including 13% of National Geographic Workforce
The cuts are also impacting Disney-owned TV stations, Freeform and marketing and publicity divisions
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‘Halo’ Video Game Studio Bungie Lays Off 17% of Staff, Restructures Development Strategy
CEO Pete Parsons says the cuts, which will impact 220 employees, come in part due to “enduring economic conditions”
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Apex Capital Bid for Paramount Flagged as Possible Hoax, Press Release Removed From BusinessWire
The $43 billion offer was announced in a press release that was later pulled down
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Ex-Netflix Staffer Sues Over COVID Vaccine Mandate, Sexual Office Environment
Jessica Combs’ suit also complains of drag queens in the cafeteria during Pride events and alcohol at work gatherings
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Hallmark Studios Names Wondu Dikran as SVP
The former NBCUniversal/DreamWorks TV head of production will oversee the newly created division
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Miramax Hires Spencer Ela as Film SVP
The former Safran Company exec recently oversaw the production of “Blue Beetle”
