Business
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Meta Shares Soar 21% on Stellar Q4 Results, Dividend Payouts
The parent of Facebook and Instagram posted strong advertising results, said it is rapidly pivoting toward AI development efforts
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The Wall Street Journal Slashes 20 Jobs From Its Washington Bureau as Media Bloodbath Continues
Teams covering business and US-China news were shut down in the paper’s restructuring
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Amazon’s 2023 Content Spend Climbed 14% to $18.9 Billion
Chief financial officer Brian Olsavsky pointed to higher spend in the fourth quarter, especially around live sports
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At Least 528 News Media Jobs Were Lost in January, Study Finds
The media world in general shed more than 830 jobs in a brutal month for media, tech and finance
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Amazon CEO Has ‘Increasing Conviction’ Prime Video Will Be ‘Large and Profitable Business’
The tech giant, which launched its ad-supported streaming tier this week, told Wall Street it would continue to invest in “compelling exclusive content”
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Disney Sets Annual Meeting for April 3, Defends ‘Highly Qualified Board and Clear Strategy’ Amid Proxy Fight
Shareholders will vote on whether to elect activist investor Nelson Peltz and former Disney CFO Jay Rasulo to the board
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Jon Kelley Renews Overall Deal With Allen Media Group
Under the multi-year pact, the host and executive producer will continue to contribute to programming across AMG’s TV and digital platforms
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Nelson Peltz Names the 2 Longtime Disney Board Members Targeted in Proxy Fight
Michael Froman and Maria Elena Lagomasino are the directors Trian Fund Management seeks to replace
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Disney Will Sell Controlling Interest in Star India for $3.9 Billion – Far Less Than It Was Worth at Acquisition
Star India was valued between $7 and 16 billion when Disney acquired it in 2019
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Disney’s First Amendment Lawsuit Against Ron DeSantis Dismissed by Judge
“This is an important case with serious implications for the rule of law, and it will not end here,” a studio spokesperson says
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Paramount Stock Climbs Over 8% After Byron Allen’s $30 Billion Bid
Allen’s proposal, which includes the assumption of debt, offers $28.58 for each voting share and $21.53 for each non-voting share
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TechCrunch to Shutter Subscription Service TC+ After Layoffs
The tech news site will wind down its paid program as it refocuses coverage amid staff cutbacks
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TikTok to Open LA Studio for Livestream Sales Videos | Report
The short video app aims to build an ecommerce business on the scale of its $200 billion China operations
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Netflix Stock Gains Outpaced Predictions So Fast, Wall Street Now Struggles With Its Value
Shares closed Monday up 17% since last week’s stellar quarterly results, leaving analysts unsure of its direction
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UTA and A24 Team Up on Scripted and Unscripted TV Projects
“We are excited to partner with A24,” UTA CEO Jeremy Zimmer says
