Disney Stock Falls on Weak Parks Outlook, TV Business Decline

Todd Spangler NY Digital Editor BuzzFeed is changing the way it compensates founder and CEO Jonah Peretti, who will now receive most of his pay package in stock, in addition to introducing new incentives for other top execs — a bid to persuade shareholders that the senior leaders will be better incentivized to turn things around at the struggling digital media company. In an SEC filing Friday, BuzzFeed said Peretti’s annual base salary was immediately reduced from $325,000 to $115,000, “which approximates the median employee compensation for BuzzFeed and its peers.” That will also reduce the annual cash bonus for which Peretti is eligible (the target amount of which remains 100% of his salary).

Grand Theft Auto VI, the latest installment in the mega-selling video game franchise, will be released in fall 2025, parent company Take-Two Interactive has confirmed.

Todd Spangler NY Digital Editor The joint venture of Disney/ESPN, Fox Corp. and Warner Bros. Discovery to package together a sports streaming bundle has a name — Venu Sports.

Kellogg’s' Trafford Park plant will close by the end of 2026, it has been confirmed today (May 16).

EXCLUSIVE: Raven-Symoné is extending her relationship with Disney, which she has called home for many years, with a new multi-year overall deal at Disney Branded Television. Under the pact, she will produce, direct, and develop projects across linear and streaming, with a focus on multi-cam comedies.

Over the past several months, on more than one occasion, we’ve heard from Disney executives about how they’re going to be cutting back a bit on streaming and put the focus on streamlining releases. That is to say, all that talk about how Disney+ was going to be the golden goose of the company was a bit premature.

Todd Spangler NY Digital Editor Disney CEO Bob Iger said that as the traditional pay-TV universe continues to shrink, the company is cutting its investment in content for linear TV networks while also amortizing that expenditure across streaming platforms. The strategy is “to reduce pretty dramatically our investment in content specifically aimed in those traditional networks,” Iger said Wednesday at MoffettNathanson’s 2024 Media, Internet and Communications Conference in New York.

Bruce Springsteen concert documentary is on the way, and will be available on streaming services later this year.Road Diary: Bruce Springsteen and The E Street Band has been confirmed to release on Disney+ and Hulu in October, although a firm release date has yet to be announced. The concert film will focus on Springsteen’s ongoing tour.The documentary – directed by Springsteen’s longtime collaborator Thom Zimny – is set to feature footage of several concerts, as well as a behind-the-scenes look at the band’s intimate rehearsals.

Annika Pham Scandinavia’s top sales agent TrustNordisk has scored major deals on the English-language epic “Stockholm Bloodbath” by Oscar-nominated Mikael Håfström (‘Evil”), which has sold to Brainstorm Media and Sunrise Films for the US and Canada, The Jokers for France and Divisa Red for Spain. The Claes Bang-vehicle, produced by Helena Danielsson for Viaplay Studios Sweden, is due to screen at the Cannes Market May 18, in a new international version.

Todd Spangler NY Digital Editor Netflix used to say its goal was to become HBO faster than HBO could become Netflix. Well, Netflix succeeded on that front. Now Warner Bros.

Max streaming services in the US starting this summer, the companies said in a statement on Wednesday.Customers will be able to sign up on any of the three individual websites and chose from an ad-free or ad-supported plan. No prices were disclosed.Both Disney and Warner Bros are trying to build their streaming businesses as customers ditch traditional cable packages, in part because many of them rejected having to pay for a large bundle with dozens of channels.Butas the number of streaming apps exploded, consumers have complained about having to sign up for multiple subscriptions.The Disney/Warner bundle will simplify payment with one bill, and possibly offer a discount from the cost of subscribing to each app separately.Further details will be announced in the coming weeks, the companies said.Disney+ offers the company’s animated and live-action movies plus film and TV shows from Marvel, Star Wars and Pixar.

Todd Spangler NY Digital Editor Disney and Warner Bros. Discovery — ordinarily rivals for consumers’ time and money — are teaming up for a triple-play bundle of Disney+, Hulu and Max. The companies announced a new streaming bundle comprising Disney+, Hulu and Max will be available this summer in the U.S.

Disney and Warner Bros. Discovery are breaking ground in streaming with a bundled offering featuring Disney+, Hulu and Max in a single package.

Todd Spangler NY Digital Editor An Apple commercial for the new iPad Pro tablet showing an industrial press literally crushing a TV, musical instruments, books and more ignited an angry backlash among many in Hollywood and other creative industries. The ad, titled “Crush!”, shows an array of various objects — including a record player, a piano, a guitar, an old TV set, cameras, a typewriter, books, paint cans and a classic arcade game machine — getting compressed into (voila!) the new iPad Pro.

Shares in Dish Network parent EchoStar have fallen more than 11% after the company’s lackluster first-quarter earnings report and growing uneasiness about the company’s financial state.

Marvel Cinematic Universe in the future, according to the CEO of Disney.Bob Iger was speaking to Wall Street analysts when he confirmed that he plans to release no more than three new Marvel films per year, as well as only two television series in the MCU.The studio head said that the plan is part of an overall strategy at Disney to focus on quality rather than quantity, with that applying particularly to their Marvel properties.“We’re slowly going to decrease volume and go to probably about two TV series a year instead of what had become four and reduce our film output from maybe four a year to two, or a maximum of three,” he said. “And we’re working hard on what that path is.”He continued that the MCU will have “a couple of good films in ’25 and then we’re heading to more Avengers, which we’re extremely excited about.”“Overall, I feel great about the slate.

Fireworks at Disney’s first-quarter earnings amid a bitter proxy fight quieted down in the second and the company’s commentary on a call today, especially around the parks business, generated some investor angst and knocked the stock lower.

Todd Spangler NY Digital Editor Disney‘s entertainment streaming segment, anchored by Disney+, scored its first profitable quarter, helping offset continued weakness in the media conglomerate’s linear TV business for the first three months of 2024. Overall, Disney revenue for the quarter ended March 30 was in line with Wall Street expectations, while it beat on adjusted earnings per share.

Lana Del Rey just announced she will swing into Fenway Park for her first-ever stadium show on Thursday, June 20.Other notable acts set to perform at the Red Sox’ home field these next few months include Hootie and The Blowfish, Noah Kahan, Kane Brown, Foo Fighters and Blink 182.Green Day, Pearl Jam and Def Leppard with Journey are also slated to hit the legendary stadium as well over the summer.And while Del Rey isn’t on tour, she does have one more major gig lined up in the near future.On May 17-19, the “Young and Beautiful” singer is listed as one of the many headliners at Gulf Shore, AL’s Hangout Festival from May 17-19 alongside Zach Bryan, Odesza, Reneé Rapp, Dom Dolla and Jessie Murph.However, if want to see Del Rey live at Fenway, seats are available.Based on our findings, fans can now purchase tickets on sites like Vivid Seats; the official on-sale is Friday, May 10.Vivid Seats is a secondary market ticketing platform, and prices may be higher or lower than face value, depending on demand.They have a 100% buyer guarantee that states your transaction will be safe and secure and will be delivered before the event.A complete calendar including dates and links to buy tickets can be found here.As noted above, eight giant acts — including Del Rey — are dropping into Fenway this summer when the Sox are away.For a closer look, we’ve got all the information you need about their show dates, start times and links to buy tickets below.Hoping to head to Gulf Shores?If you make it out there from May 17-19, you’ll be treated to performances from all the aforementioned headliners as well as Chappell Roan, The Chainsmokers, Dominic Fike, Cage The Elephant and A Day To Remember.Tickets for the 2024 Hangout Festival can be scooped

A dispersal order has been put in place across Stockport town centre after a large gang of youths caused havoc at the bus station. Police made four arrests during the disturbance on Saturday night.