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Todd Spangler NY Digital Editor Ike Perlmutter, the former Marvel Entertainment chairman who was ousted last year, sold all of his Disney stock — about 25.6 million shares — for almost $3 billion, according to a report by the Wall Street Journal. Perlmutter, who was among the largest individual shareholders in the Mouse House, sold his stake in Disney between early April and mid-July at an average price of just under $115/share, per the report.

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Abigail Disney to Donate to Kamala Harris’ Presidential Campaign, Backs VP ‘With All My Heart’

Todd Spangler NY Digital Editor Abigail Disney said she is whole-heartedly supporting Vice President Kamala Harris‘ presidential campaign, after previously saying she would cease contributions to Democrats unless President Biden dropped out of the race. Disney, the outspoken filmmaker and philanthropist who is the granddaughter of Roy O.

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Amazon’s Prime Video Interface Update Promises to Make It Easier to Tell What’s Included With Your Subscription — and What Costs Extra

Todd Spangler NY Digital Editor Amazon is launching the biggest update to the Prime Video user experience in two years — which the tech giant claims is simpler and more personalized, with the aim of helping you find something to watch faster than ever. And the new UI specifically addresses something that’s annoyed Prime Video users for years: Now, according to Amazon, it will be easier to see what is included with a Prime membership and what you would need to pay extra for.

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Spotify Turns in Record Profit in Q2, Grows Premium Subscribers to 246 Million

Todd Spangler NY Digital Editor Helped by cost-cutting measures include a mass layoff, Spotify posted a record profit in the second quarter of 2024 that topped expectations. The music and audio streaming giant gained 7 million paid subscribers in the period, slightly ahead of guidance, while total monthly users fell short of its target. Spotify reported Q2 revenue of €3.81 billion, up 20%, and a net profit of €274 million, versus a net loss of -€302 million in the year-earlier period.

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‘Kingdom of the Planet of the Apes’ Gets Hulu Streaming Premiere Date

Todd Spangler NY Digital Editor The latest simian saga in the Planet of the Apes film franchise is set to ride onto Hulu next month. “Kingdom of the Planet of the Apes,” from director Wes Ball, will hit Hulu in the U.S. on Aug.

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Hunter Biden Drops Lawsuit Against Fox News

Todd Spangler NY Digital Editor The same day his father, Joe Biden, announced that he would drop out of the 2024 presidential race, Hunter Biden voluntarily dropped his lawsuit against Fox News that had alleged the network’s inclusion of sexually graphic photos of Hunter Biden in a fictionalized “mock trial” miniseries about him violated revenge porn laws. According to the notice filed with the court Sunday (July 21), Hunter Biden, “by and through his undersigned counsel, hereby gives notice that the above-captioned action is voluntarily dismissed, without prejudice, against the defendants Fox News Network, LLC, Fox Corporation, and John and Jane Does 1-100.” The dropping of the case “without prejudice” means it may be refiled at a later date. A lawyer representing Biden did not respond to a request for additional comment.

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Oracle CEO Safra Catz Exits Disney’s Board

Todd Spangler NY Digital Editor Disney announced that Safra Catz, CEO of Oracle, is departing its board of directors after six years. Disney and Catz did not provide an explanation for why she stepped down from the Mouse House’s board.

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Netflix’s Ted Sarandos: Generative AI Tools Will Be a ‘Great Way for Creators to Tell Better Stories’

Todd Spangler NY Digital Editor What the long-term impact of generative AI will be on Hollywood is “hard to predict,” Netflix co-CEO Ted Sarandos said — but he took a shot at addressing it anyway. Sarandos, speaking on the streamer’s Q2 earnings interview, said, “I think that AI is going to generate a great set of creator tools, a great way for creators to tell better stories.” And, he said, the business case for generative AI isn’t to reduce costs but to improve the quality of storytelling.

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Netflix Tops 277 Million Subscribers With Strong Q2 Gain, Beats Earnings Forecasts

Todd Spangler NY Digital Editor Netflix rang up solid subscriber gains in the second quarter of 2024 — which were considerably better than Wall Street expected — and posted financial results that beat forecasts. The industry’s No. 1 premium streamer added 8.05 million net paid customers in Q2, bringing its global base to 277.65 million.

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Netflix CTO Elizabeth Stone on Streamer’s New AI Project, Gearing Up for Live NFL Games, Evolving the Culture and More

Todd Spangler NY Digital Editor Elizabeth Stone is Netflix’s chief technology officer, overseeing a global team of about 3,000 at the streaming giant. The technology group touches every part of Netflix — spanning not just the core product experience, but also advertising, games, livestreaming content and studio production organizations.

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Willow Bay, Bob Iger Seal Deal to Buy L.A.’s Angel City FC, Valuing Women’s Soccer Team at $250 Million

Todd Spangler NY Digital Editor Kicking women’s soccer to new heights, Willow Bay and her husband, Disney chief Bob Iger, clinched a deal to acquire a controlling stake in Los Angeles pro team Angel City Football Club. Iger and Bay, who is the dean of the USC Annenberg School for Communication and Journalism, will become the new controlling owners of Angel City FC following the closing of the transaction. The deal gives Angel City FC an enterprise value of $250 million — which the team said makes it the most valuable women’s sports team in the world.

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Dax Shepard Inks $80 Million Exclusive Podcast Pact With Amazon’s Wondery, Which Encompasses New Shows, Merchandise and More

Todd Spangler NY Digital Editor Amazon’s Wondery podcast division landed an exclusive distribution and ad-sales deal with Dax Shepard for his popular “Armchair Expert” podcast — which also covers new shows, merchandise and more. Wondery’s deal with the comedian-podcaster is valued at about $80 million, according to sources (as first reported by the Wall Street Journal). As part of the deal, Wondery, Shepard and the team at “Armchair Expert” will codevelop and produce two new podcasts for fans and one livestream per year.

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Abigail Disney Says She’s Halting Donations to Democrats ‘Unless and Until’ President Biden Drops Out: ‘The Stakes Are Far Too High’

Todd Spangler NY Digital Editor Filmmaker and philanthropist Abigail Disney called on President Biden to exit the 2024 presidential race — and said she’s not going to not donate to Democrats unless he bows out. Disney, granddaughter of Roy O. Disney, who is the co-founder of the Walt Disney Co.

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Paramount Global Will Pay Skydance $400 Million Breakup Fee if It Lands a Better Offer

Todd Spangler NY Digital Editor Even after clinching a deal with Skydance Media, Paramount Global has the right to shop around for a better offer in a 45-day window. But if Paramount agrees to accept a more attractive buyout deal, it would be on the hook to pay Skydance a $400 million breakup fee, David Ellison, founder and CEO of Skydance, told investors on a call Monday morning.

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Paramount-Skydance Merger: 5 Burning Questions About the Deal

Todd Spangler NY Digital Editor Is Skydance Media the forward-looking entity that Paramount Global needs right now to save the company? Ending months of M&A drama, Paramount Global and Skydance Media, David Ellison’s smaller media and production company, on Sunday announced a two-part transaction that will result in Skydance buying out Shari Redstone’s National Amusements Inc. and then merging with Paramount — to form what the Skydance team for now is calling “New Paramount.” About $6 billion of the money to fund the deal is coming from the family of Oracle founder Larry Ellison (David’s father), with about $2 billion from Gerry Cardinale’s RedBird Capital Partners private-equity investment firm.

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All Seasons of Mind-Bending Series ‘Lost’ Are on Netflix Again

Todd Spangler NY Digital Editor All six seasons of “Lost,” the cult-classic supernatural show that ended its TV run 14 years ago, are once again streaming on Netflix in the U.S. as of July 1. The full run of “Lost,” created by J.J.

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Paramount Global Deal With Skydance ‘May Not Be Sufficient to Stabilize the Credit Profile,’ Moody’s Says

Todd Spangler NY Digital Editor Skydance Media this week clinched a deal to merge with Paramount Global, and execs outlined a plan to cut costs and boost the combined company’s profitability in the years ahead. But the turnaround plan might not be enough to save Paramount Global from seeing its debt rating cut to junk status by credit-rating agency Moody’s.

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Roku Hires Disney Exec Louise Pentland as General Counsel

Todd Spangler NY Digital Editor Louise Pentland, a technology industry veteran who most recently worked at Disney, will join streaming platform company Roku as senior VP and general counsel. Pentland will start at Roku on July 23 and report to founder and CEO Anthony Wood.

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Barry Diller’s IAC Mulling Bid to Gain Control of Paramount Global: Report

Todd Spangler NY Digital Editor Is Barry Diller looking to charge back into Hollywood? IAC, the internet media and publishing conglomerate led by Diller, is “exploring” a bid to acquire Shari Redstone’s National Amusements Inc., the company that owns a controlling stake in Paramount Global, the New York Times reported Monday, citing anonymous sources. IAC has signed nondisclosure agreements with National Amusements Inc. to perform due diligence on a deal, per the Times report.

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MTV News Repository of 460,000 Articles Launched by Internet Archive After Paramount Content Purge

Todd Spangler NY Digital Editor MTV News lives! Well, sort of. In the days after Paramount Global disabled mtvnews.com and mtv.com/news — removing a trove of hundreds of thousands of articles about music and pop culture from the internet — the not-for-profit Internet Archive assembled a searchable index of 460,575 web pages previously published at mtv.com/news. You can search the MTV News archive on the organization’s Wayback Machine at this link.

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Hunter Biden Sues Fox News Over Fictionalized Mock-Trial Series, Alleging Violation of New York Revenge Porn Law

Todd Spangler NY Digital Editor Hunter Biden, the legally embattled son of President Biden, filed a lawsuit against Fox News alleging that sexually graphic photos of Hunter Biden included in the network’s fictionalized “mock trial” miniseries about him violated a New York revenge porn law. Hunter Biden’s suit against Fox News was filed Sunday, June 30, in New York Supreme Court.

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