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variety.com

05.04.2024 / 12:11

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Disney Password-Sharing Crackdown for Disney+, Hulu, ESPN+ Accounts Will Begin in June

Todd Spangler NY Digital Editor Some subscribers to Disney‘s streaming services will start seeing some new messaging up this summer: Pay up for anyone outside your main household who’s illicitly piggybacking on the services — or face potentially getting disconnected. According to Disney chief Bob Iger, the Mouse House this June will “be launching our first real foray into password sharing” enforcement.

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Nelson Peltz Warns He’ll Be Back If Disney Fails to Keep Its ‘Promises,’ Suggests His Firm Has Made About $1 Billion on Its Investment in the Company

Todd Spangler NY Digital Editor Trian Partners founder Nelson Peltz has accepted defeat — for now. Peltz, a day after the activist investor lost a costly proxy battle with Disney, went on CNBC’s “Squawk on the Street,” Thursday to discuss what happened. “The shareholders have voted.

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Bob Iger, After Winning Fierce Proxy Fight, Says Disney Board’s No. 1 Priority Is CEO Succession: ‘They’re Treating It With a Sense of Urgency’

Todd Spangler NY Digital Editor A day after Disney declared victory over activist investor Nelson Peltz, CEO Bob Iger said the board is proceeding with “urgency” in trying to identify the next chief executive with the “distraction” of the proxy fight over. “This was decisive in terms of how shareholders voted,” Iger said in an appearance Thursday morning on CNBC from Disney’s Burbank, Calif., headquarters, about the results of the April 3 meeting. Succession “is the board’s No.

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Spotify Hires Swedish Defense-Industry Exec as New CFO

Todd Spangler NY Digital Editor Spotify announced the appointment of Christian Luiga, a senior executive at European defense and security company Saab AB, as its next CFO. Luiga is expected to start in the third quarter of 2024. Ben Kung, Spotify’s VP of financial planning and analysis, will serve as interim CFO until Luiga’s start date.

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Apollo Global Offered $27 Billion for All of Paramount Global but the Bid Was Rebuffed

Todd Spangler NY Digital Editor Private-equity giant Apollo Global Management made a $27 billion offer to acquire all of Paramount Global this week, sources familiar with the bid told Variety. However, the special committee set up by the Paramount Global board of directors to consider M&A options declined to engage with the bid. Apollo submitted an all-cash bid on Sunday, March 31, to acquire Paramount Global in a deal worth more than $27 billion of total enterprise value, encompassing equity and debt, according to people familiar with the situation.

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Patrick Whitesell to Launch Media Company With $250 Million Investment From Silver Lake as Part of Endeavor Deal

Todd Spangler NY Digital Editor Patrick Whitesell, executive chairman of WME parent Endeavor, is launching a new media company backed by Silver Lake as part of the private-equity firm’s deal to take Endeavor private. Silver Lake will invest $250 million of seed equity into a new business to be founded, managed and controlled by Whitesell, according to an Endeavor SEC filing Wednesday.

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Disney Has Enough Votes to Defeat Activist Investor Nelson Peltz’s Board Candidates: Report

Todd Spangler NY Digital Editor Disney had won enough of the shareholder votes cast for its 12 board candidates as of Tuesday evening to successfully defeat an aggressive, months-long proxy fight waged by Nelson Peltz‘s Trian Partners hedge fund, Reuters reported, citing anonymous sources. Enough votes had been cast as of Tuesday evening to put Disney’s board directors “safely ahead” of Trian’s two nominees for the board — Peltz and ex-Disney CFO Jay Rasulo — per the Reuters report. In addition, the three board candidates proposed by investment firm Blackwells Capital failed to win enough votes, according to the report.

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Disney’s Board Candidates Pull Ahead of Activist Investor Nelson Peltz With More Than Half Votes Cast: Report

Todd Spangler NY Digital Editor Disney and CEO Bob Iger have pulled into the lead for their 12 board candidates to win reelection — with activist investor Nelson Peltz trailing — with more than half of shareholder votes cast ahead of the Mouse House’s April 3 annual meeting, according to the Wall Street Journal. Two of Disney’s institutional investors — BlackRock (which owns about 4.2% of outstanding shares) and T. Rowe Price (0.5%) — support the company’s own slate of directors, which include Iger, per the Journal, citing anonymous sources.

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Variety Lands Three Webby Award Nominations, Including for Best Entertainment Website

Todd Spangler NY Digital Editor The Webby Awards have announced nominations for the 2024 ceremony, recognizing excellence in internet content. Variety landed three Webby nominations, for: best website (in the general websites and mobile sites – entertainment category); 2023 Actors on Actors (in the video series and channels – entertainment category); and “I’m Not a Victim: Pamela Anderson Opens Up About Money, Abuse and the ‘Assholes’ behind Pam & Tommy,’” by Tatiana Siegel, Variety executive editor, film and media (in the websites and mobile sites’ features and design – writing category).

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Steven Miron, Steven Newhouse Resign From Warner Bros. Discovery Board After Disclosing DOJ Antitrust Probe

Todd Spangler NY Digital Editor Steven Miron and Steven Newhouse resigned from the Warner Bros. Discovery board after the Justice Department informed them it was investigating “whether their service on the Board of Directors violated Section 8 of the Clayton Antitrust Act,” the company announced Monday. Miron, CEO of media company Advance/Newhouse Partnership and a senior executive officer at the Newhouse family’s investment business Advance, and Newhouse, co-president of Advance, were both independent directors of Warner Bros.