Silicon Valley Bank Failure Closely Watched In Entertainment As Biden Reassures Investors
Stock markets in Europe fell on Monday amid concern over the fallout of the failure of Silicon Valley Bank, the U.S. bank known for lending to technology companies, despite regulators’ moves to contain the crisis and avoid a domino effect with various measures. U.S. markets also opened the week lower, driven by a drop in banking […]
Vimeo to Lay Off 11 Percent of Staff Due to “Uncertain Economic Environment”
Vimeo is laying off 11 percent of its staff amid an “uncertain economic environment,” CEO Anjali Sud said in a message to employees shared publicly on Wednesday. The latest round of cuts comes roughly half a year after the company last cut about 6 percent of its staff in July. Since then, Sud said that […]
IAC Hints at Upcoming Investments, Growth in Dotdash
IAC is beginning to see some benefits from its acquisition of Meredith Corp., while hinting that another investment is on the horizon. The company acquired a 12 percent stake in MGM Resorts International in August 2020, a choice which executives said was made after looking for solid businesses that could emerge from COVID-19 relatively unphased. […]
Entertainment Weekly, InStyle to End Print Editions Following IAC Acquisition, 200 Layoffs Planned
Six magazine titles formerly owned by Meredith Corp. will end the publication of print issues, DotDash Meredith CEO Neil Vogel told staff Wednesday. Impacted titles include Entertainment Weekly, InStyle, Health, EatingWell and Parents. As part of the cuts, the company plans to eliminate 200 jobs, mostly supporting the print operations. Some of the other former […]
IAC’s Dotdash Acquires People Magazine Publisher Meredith Corp. in $2.7B Deal
Meredith Corp., the publisher of brands like People magazine, Entertainment Weekly and InStyle, has sold to Dotdash, a digital publishing subsidiary of Barry Diller’s IAC, in a deal valued at $2.7 billion, the companies said Wednesday. The deal is expected to close Dec. 1, with the newly combined company called Dotdash Meredith and led by […]
Jennifer Lawrence to Star in Untitled A24 Drama
In-demand New York stage director Lila Neugebauer will make her feature debut on the project from first-time screenwriter Elizabeth Sanders, produced by Scott Rudin and Eli Bush.
Barry Diller Warns Studios, “Those Who Chase Netflix Are Fools”
Onetime film and television CEO Barry Diller offered an apocalyptic vision of the entertainment business during a podcast interview released Friday, arguing that in the face of Netflix and Amazon, "Hollywood is now irrelevant," yet "those who chase Netflix are fools."
Ben Silverman’s Propagate Acquires Electus, Majority Interest in Artists First
Propagate acquires Electus, majority interest in Artists First in effort to become full-service global studio.
Twitch Hires First Head of Diversity and Inclusion
Twitch on Thursday announced Katrina Jones will be the streaming service's first official head of diversity and inclusion. Also announced were the hires of Michelle Weaver as CEO and Sudarshana Rangachary as chief human resources officer.
Vimeo Launches Stock Footage Marketplace
Vimeo is launching a stock footage marketplace sourced from its community of creators. Clips range in price from $79 to $500, depending on the quality and exclusivity of the video.
Barry Diller’s IAC Sued by Tinder Co-Founders for $2 Billion
Former Tinder CEO Sean Rad and several other current and former employees are suing IAC and Match Group, alleging that the companies intentionally undervalued the popular dating app to deny early employees billions in stock options.
Barry Diller Weighs in on #MeToo Movement: “All Men Are Guilty”
In a wide-ranging interview with The New York Times, the IAC chairman also weighed in on Trump, 'Red Sparrow,' 'The Shape of Water' and whether he would want to run a studio in 2018.