Disney’s earnings are hurt by costs at Disney+

Disney’s earnings are hurt by costs at Disney+

The Walt Disney Co. said it plans to cut marketing and content budgets after the company reported weaker-than-expected fourth-quarter earnings on Tuesday, the result of larger losses in its streaming business that offset strong performance in its theme parks. “We are actively evaluating our cost base at the moment,” Christine McCarthy, Disney’s chief financial officer, … Read more

Disney’s weak revenue and profits eclipse the growth of streaming subscribers

Disney’s weak revenue and profits eclipse the growth of streaming subscribers

The home screen of the Disney+ Marvel website on a laptop in the Brooklyn borough of New York, United States, on Monday, July 18, 2022. Gabby Jones | Bloomberg | Getty Images The biggest media and entertainment companies are asking investors to focus on revenue and profits instead of streaming subscriber growth – a message … Read more

Elon Musk sells nearly $4 billion of Tesla stock after Twitter acquisition

Elon Musk sells nearly $4 billion of Tesla stock after Twitter acquisition

Elon Musk sold nearly $4 billion in Tesla Inc. TSLA -2.93% stock after buying Twitter Inc. for 44 billion Mr. Musk sold 19.5 million shares in Tesla 4.-8. Nov., according to regulatory disclosures released Tuesday. Tesla’s CEO, who has become the world’s richest person thanks in large part to his stake in the car company, … Read more

Meta’s Mark Zuckerberg says he is in charge as the company prepares for mass layoffs

Meta’s Mark Zuckerberg says he is in charge as the company prepares for mass layoffs

When WHEN -0.26% Platforms Inc. will begin laying off employees Wednesday morning, CEO Mark Zuckerberg told hundreds of executives Tuesday. Mr. Zuckerberg appeared dejected at Tuesday’s meeting, saying he was responsible for the company’s missteps and that his overoptimism about growth had led to overstaffing, according to people familiar with the meeting. Meta’s chief human … Read more

Jeff Cook, co-founder of the country band Alabama, dies at age 73

Jeff Cook, co-founder of the country band Alabama, dies at age 73

NEW YORK — Guitarist Jeff Cook, who co-founded the successful country group Alabama and steered them up the charts with hits like “Song of the South” and “Dixieland Delight,” has died. He was 73. Cook had Parkinson’s disease and disclosed his diagnosis in 2017. He died Tuesday at his home in Destin, Florida, said Don … Read more

Disney (DIS) earnings Q4 2022

Disney (DIS) earnings Q4 2022

Bob Chapek, Disney CEO at Boston College Chief Executives Club, November 15, 2021. Charles Krupa | AP Disney missed expectations for profit and key revenue segments during the fiscal fourth quarter on Tuesday and warned that strong streaming growth for its Disney+ platform may slow going forward. The company’s shares fell about 8% in after-hours … Read more

‘The Crown’ returns to blur the line between royalty, fiction

‘The Crown’ returns to blur the line between royalty, fiction

LOS ANGELES (AP) — When “The Crown” returns Wednesday after a two-year absence, Charles and Diana’s fractured marriage and more problems for Queen Elizabeth II are in the drama’s elegant but intrusive spotlight. There’s also swirling off-stage drama for the Netflix series that began with Elizabeth’s marriage in the late 1940s and in its fifth … Read more

Meta’s Mark Zuckerberg says he is in charge as the company prepares for mass layoffs

Meta’s Mark Zuckerberg says he is in charge as the company prepares for mass layoffs

When WHEN -0.26% Platforms Inc. will begin laying off employees Wednesday morning, CEO Mark Zuckerberg told hundreds of executives Tuesday. The upcoming layoffs are expected to amount to many thousands of employees and are likely to be the largest of the year so far in the tech sector, The Wall Street Journal previously reported. Mr. … Read more

Nick Carter remembers his ‘baby brother’ Aaron Carter

Nick Carter remembers his ‘baby brother’ Aaron Carter

NEW YORK (AP) – The day after 34-year-old singer Aaron Carter was found dead at his Southern California home, Backstreet Boys member Nick Carter remembered his younger brother, saying that despite “a complicated relationship” his love for him “never faltered.” In a post on Sunday on Instagram with photos of the two over the years, … Read more