The CW Majority Stake Sale Explored By WarnerMedia & ViacomCBS; Nexstar Among Suitors

Jennifer Maas TV Business WriterNetflix stock fell more than 10% Monday morning, continuing the steep downward trend it’s been experiencing since the streaming giant reported last week it had ended 2021 with slightly lower-than-expected subscriber gains and anticipated a weak start to Q1.At approximately 11:50 a.m. ET, Netflix stock was trading at $353.31 per share, down from the $397.50 per share the stock closed at Friday.Last Thursday, Netflix reported a net gain of 8.28 million subscribers for Q4, again driven by markets outside North America, to reach 221.8 million total worldwide.

Naman Ramachandran “Picabo,” co-directed by Olympic champion Lindsey Vonn and Hollywood producing legend Frank Marshall (the Jason Bourne, Jurassic World and Indiana Jones franchises), is among the programming revealed by the Olympics Channel ahead of the Olympic Winter Games Beijing 2022, which commences Feb. 4.The programming includes stories of winter athletes past and present.

Iconic French designer Manfred Thierry Mugler has died at the age of 73. Throughout his career, Mr Mugler worked with multiple celebrities including Beyonce, Cardi B, and Lady Gaga.

Even right down to the title this religious comedy debuting appropriately today on a Sunday  in the Premieres section of the Sundance Film Festival can’t seem to decide what it wants to be. Is it Honk For Jesus.? Or is it Save Our Soul.? OR is it as the credits say both? It is a indication of the main problem with this self-styled satire on scandal-ridden Southern Baptist megachurches. Is it supposed to be a comedy? Or is it aiming to be something deeper and more dramatic?  Or is it both?  Even for the best of satirists trying to keep an even tone without watching the whole souffle fall is a slippery slope, one that writer/director Adamma Ebo hasn’t quite solved, but not for lack of trying. As many have discovered, drama is easy, comedy is hard.

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EXCLUSIVE: In a competitive situation, Will Yun Lee and Mark and Christine Holder’s Seoul Street has acquired rights to Silver Phoenix author Cindy Pon’s bestselling sci-fi novels Want and sequel Ruse for development as an international television series.

Music lovers rejoice, as there continues to be lots to look forward to on the Manchester music scene this year.

KARD member BM has released his new solo track, titled ‘Lie (Lost in Euphoria)’.The Korean-American star dropped the new single on January 21, alongside an official visualiser. ‘LIE (Lost In Euphoria)’ is notably BM’s first release under altm Group, which first announced back in October 2021 on Instagram that it had signed the K-pop idol.“I found you, now I’m lost in euphoria / Lost but I love it, don’t look for me / I’ll go to a place where there is no pain / Even if I get lost, it’s okay with you, yeah,” he sings in the chorus of the trap-tinged song, in Korean and English.The new track was co-written and co-composed by BM himself, while South Korean rapper and producer GEMINI co-produced alongside frequent BM collaborator GHOSTCHILD.

Todd Spangler NY Digital EditorNetflix ended 2021 with a slightly lower-than-expected subscriber gain in the fourth quarter, and its stock took a dive with a weak Q1 outlook.The streaming giant reported a net gain of 8.28 million subscribers for Q4, again driven by markets outside North America, to reach 221.8 million total worldwide. Netflix previously forecast 8.5 million paid net adds while Wall Street analysts expected 8.3 million, according to FactSet.Click here to sign up for Variety‘s free Strictly Business newsletter covering earnings, financial news, and more.Netflix shares fell more than 13% in after-hours trading, as the company forecast 2.5 million net subscriber adds for the first quarter of 2022.

Hipgnosis has acquired an 80% stake in the recorded music royalties of country artist Kenny Chesney. The deal, which covers Chesney’s full catalogue, is the first that Hipgnosis has made since announcing a new partnership with investment firm Blackstone in October last year.“Kenny Chesney is one of the truly great American artists”, says Hipgnosis founder Merck Mercuriadis.

Charlie Puth's Light Switch - which finally arrives on streaming services tomorrow (January 20) after months of teasers and false starts - seems precision-tooled to go viral.

Manori Ravindran International EditorCAA has hired former Plimsoll Productions executive Saul Goldberg as an agent with its Alternative Television division, based out of the U.K.Most recently, Goldberg oversaw the U.S. operations for Bristol-headquartered unscripted production company Plimsoll, which has expanded rapidly in recent years following the sale of a minority stake to British private equity firm LDC in 2019.

3 min read A famous US baseball team that had once traded a player to another team because he refused to marry a woman, will later this month allow two gay men to marry in the middle of their pitching mount, repairing the sports fractured relationship with the LGBTQ community.

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