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Disney CEO Bob Iger to cut spending ‘pretty dramatically’ on traditional TV programming

Walt Disney will cut its investment in programming for traditional television networks “pretty dramatically” as the company navigates the consumer shift to streaming, Chief Executive Bob Iger said Wednesday.Iger said linear channels such as ABC still serve as an important marketing tool and reach older viewers who are not watching series such as “Abbott Elementary” on Disney’s streaming platforms.Still, the goal is to “reduce pretty dramatically our investment in content specifically aimed at those traditional networks,” Iger said at the MoffettNathanson’s 2024 Media, Internet and Communications Conference in New York.On Disney’s theme parks business, Iger said he expected continued growth but perhaps not at the same rate as in recent years.“We’ve had double-digit revenue growth in that business for quite some time, and that’s extraordinary,” he said.
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First black-led daytime soap in 35 years officially ordered at CBS
“General Hospital” by my mother’s side in the ’80s — it was all about Cliff (Peter Bergman) and Nina (Taylor Miller) on “AMC,” Vicki (Erika Slezak) and Clint (Clint Ritchie) on “OLTL” and, of course, Luke (Anthony Geary) and Laura (Genie Francis) on “GH.”But when Jessie (Darnell Williams) and Angie (Debbi Morgan) came along on “AMC,” it was the first time I ever saw a black supercouple sudsing up our TV screen — likely in VHS recordings that my mom would make so I could watch after school.While I would forever stay loyal to my ABC soaps — although when we went down Grandma’s house, it was all about “The Young and the Restless,” “Guiding Light” and “As the World Turns” on CBS — I couldn’t help but feel like progress had been made when the groundbreaking soap “Generations” premiered on NBC in March 1989 with a predominantly black cast.Flash forward 35 years — and 33 years after “Generations” was canceled in 1991 — and there is a new black soap coming to daytime just when the genre had seemed to be on its last suds.On Monday, CBS announced a series order for “The Gates” — which “follows the lives of a wealth Black family in a posh, gated community”— that is set to premiere in January 2025.The new soap on the block — which will have Michele Val Jean (“The Bold & the Beautiful,” “General Hospital”), a black multiple Daytime Emmy winner, as writer, showrunner and executive producer — was developed in a joint venture between CBS and the NAACP.Look how far we’ve come, Jessie and Angie.But in addition to seeing black folks go through all that drama that makes us escape our own lives for just a bit, “The Gates” also marks the return of daytime soaps that were all but obliterated from network TV in the bloodbath of the late ’00s
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