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Disney, Netflix and Media Stocks Tumble Amid Market Rout

Media and entertainment stocks were buffeted by market volatility.

Latest Business

Disney, Netflix and Media Stocks Tumble Amid Market Rout

U.S. media stocks fell sharply as global markets tumbled on Monday. The NASDAQ Exchange fell 2.2 percent to 14,713.90, and the Dow fell 614 points in the market rout to close at 33,970.47, after

Steven Mnuchin Raises $2.5B For New Fund, Investments Will Include “New Forms of Content”

Former Treasury Secretary Steven Mnuchin has raised $2.5 billion for his private equity fund, Liberty Strategic Capital, and will seek investments in the technology sector, financial services…

Marvel Studios’ Victoria Alonso Upped to President Role

Marvel Studios veteran Victoria Alonso is taking on a new role as the Marvel Cinematic Universe continues to expand. Alonso has been promoted to president, physical and postproduction…

Universal Music Group Valued at About $39B Ahead of Listing

With French media conglomerate Vivendi set to spin off Universal Music Group (UMG) on Tuesday and the music major’s stock starting to trade on Amsterdam’s Euronext stock exchange, its…

Electronic Arts Closes $1.4B Playdemic Acquisition From AT&T’s Warner Bros. Games

Video game giant Electronic Arts has closed the $1.4 billion acquisition of Britain-based mobile games studio Playdemic, known for the Golf Clash franchise, from AT&T’s Warner Bros. Games. It is <a href="https://www.hollywoodreporter.com/business/digital/ea-gaming-buy-sports-1234975294-1234975294/"…

China’s Version of TikTok Limits Kids’ Screen Time to 40 Minutes Per Day

TikTok owner Bytedance is set to bring in screen time caps for Douyin, the Chinese version of the phenomenally successful app, for users under 14 years old as Beijing continues to crack down on…

Directors Guild Elects Lesli Linka Glatter as New President

The Directors Guild of America has named Lesli Linka Glatter as its new president, the craft union announced Saturday. Glatter, a veteran TV director of shows such as Homeland and The Good…

When Stars Sue Studios: The Truth About Profit Participation Cases (Guest Column)

For the last month, profit participant lawsuits have been the talk of the town (or at least a corner of it). In our practice litigating profit participation suits, we often encounter talent, talent

Instagram Beats Photographers’ Suit Over Embed Feature

Instagram has defeated a suit from users who say their embed feature flouts copyright laws by allowing third party websites display videos and images without a license. Two photographers in May <a href="https://www.hollywoodreporter.com/business/digital/instagram-embed-feature-sparks-copyright-suit-from-users-1234957184/"…

Chris Petrikin Exiting Paramount Pictures

Veteran communications chief Chris Petrikin is leaving his role at Paramount Pictures. Petrikin has served as the company’s Executive Vice President of Global Communications and Corporate…

Lynne Hale, Longtime Lucasfilm PR Head, to Retire After 35 Years

One of the Star Wars galaxy’s leaders is moving on to her next adventure. Lynne Hale, the longtime head of publicity and communications at Lucasfilm who worked closely with founder George Lucas

Murdochs Take Pandemic Pay Cut to $31M and $27M

Fox Corp. CEO Lachlan Murdoch and his father, chairman Rupert Murdoch, each saw their compensation packages fall in 2021 due to pandemic-spurred pay cuts. Rupert still took home a…