Giant toymaker Hasbro is laying off 1,100 employees, following 800 staff cuts announced earlier this year, as CEO Chris Cocks cited a tough business climate that’s been slow to recover. That’s about 20% of the company’s global workforce.
28.11.2023 - 05:11 / variety.com
Patrick Frater Asia Bureau Chief Television Broadcasts (TVB), long the dominant free-to-air TV operator in Hong Kong is to dismiss 300 staff, or 8% of its already reduced workforce, in a further cost cutting move.
The company said in a regulatory filing on Monday that it will shed 200 staff from its program production operations, merge two of its five channels and reduce its Zstore e-commerce business, with the loss of an additional 100 jobs.
The moves, some of which require regulatory approval, are the second staff reduction to be announced this year. In March, TVB cut 255 employees, taking its headcount to 3,600 as of June.
TVB is proposing to merge its J2 channel (offering content and programs aimed at a young audience) with its TVB Finance, Sports & Information channel and to create TVB+.
The new channel will create “a diverse range of young audience content, including dramas and variety shows, sports, and informational programs.” It will also “link up free-to-air TV content with interactive content on our digital platforms such as myTV SUPER and TVB social media accounts.”
Financial news will no longer have a dedicated channel and, instead, content will be dissipated across the remaining channels Jade and TVB+ channels.
“We expect TVB+ will appeal to a larger combined audience than our current J2 and FSI channels, and thus also deliver a stronger value proposition to advertisers,” TVB said in the filing.
“We will reduce our production budgets for fringe-hour content and discontinue any programs that fall short of their desired audience or commercial impact. As a result, in addition to the HK$260 million ($33.3 million) of annual cost savings we announced in March 2023 and are on track to achieve by year-end 2023, we
Giant toymaker Hasbro is laying off 1,100 employees, following 800 staff cuts announced earlier this year, as CEO Chris Cocks cited a tough business climate that’s been slow to recover. That’s about 20% of the company’s global workforce.
The Federation Of Motion Film Producers of Hong Kong has issued a statement to confirm that Hong Kong’s official Oscars submission, A Light Never Goes Out, has been disqualified from the race.
Charlie Dimmock revealed she had 'no regrets' about her controversial affair with co-star during her time one-third presenting Ground Force.
Patrick Frater Asia Bureau Chief China’s Linmon Media celebrated its tenth anniversary this week by unveiling 16 new shows for its 2024 production and release slate. The roster included seven Chinese period drama series, five contemporary shows and two more being made in Thailand. “We are not just a producer, we are a studio,” Zhou Yuan, co-founder and EVP of Linmon, told Variety on the sidelines of the company’s predominantly English-language presentation at the Asia Television Forum & Market in Singapore.
Tidal has laid off 40 members of staff across multiple departments, amounting to 10 per cent of its total staff.The music streaming service is owned by Twitter founder Jack Dorsey’s company Block, which has been making layoffs across its many branches, which also include Square and Cash App.As reported by Bloomberg, the layoffs include Jeff Benjamin, a former member of Tidal’s editorial team, along with other members of the editorial staff.In a statement from the company, they said: “As part of Block and its recent announcement to cap the number of employees at the company to focus on business growth, TIDAL has carefully considered how to right-size our team to ensure we are able to continue to build and invest in critical areas of the business.”“We do not take these decisions lightly, and we are sincerely grateful for the contributions of our impacted teammates.”Earlier this week, Spotify also announced that they were cutting down 17 per cent of its workforce in order to save costs. The streaming platform had previously laid off 6 per cent of its staff earlier in the year.Spotify chief executing Daniel Ek said that the recent decision was made as economic growth had “slowed dramatically”.
Todd Spangler NY Digital Editor Tidal, the high-fidelity music streaming service majority owned by Jack Dorsey-led digital payments company Block, has laid off more than 10% its staff, representing about 40 staffers who have been let go. The cuts at Tidal are part of Block’s stated goal of capping its total employee base at 12,000. As of Dec.
Patrick Frater Asia Bureau Chief Wang Jianlin, the Chinese billionaire who previously sought to buy a controlling position in Hollywood, is preparing to complete his imminent exit from the film industry. The troubled conglomerate is facing debt repayment pressure.Wanda Film, which remains China’s largest cinema operator, Wednesday said in a regulatory filing to the Shenzhen Stock Exchange that Wang and his Wanda Investment vehicle expect to sell their remaining stake 51% in the company to China Ruyi Holdings. Ruyi, which operates across film, TV and online games, counts games, social media and streaming giant Tencent among its largest shareholders.
Patrick Frater Asia Bureau Chief China and Netherlands-based Fortissimo Films has picked up international sales rights to anticipated Chinese blockbuster movie “If You Are the One 3.” To be released on Dec. 30 in China, the picture is directed by Feng Xiaogang as the second sequel in his anti-romance comedy franchise, about a rich businessman and an air stewardess, which kicked off in 2008 and earned a follow-up in 2010.
Patrick Frater Asia Bureau Chief Singapore actor and filmmaker Alaric Tay (“Zombiepura”), through his Very Tay Media company has joined forces with two Philippines companies Black Ops Studios Asia and PsyOps Studios to produce a slate of films aimed at international markets. The venture, that was facilitated by Hong Kong-based producer Mike Leeder, was announced on the eve of the Asia Television Forum (ATF) in Singapore. They aim to put together a combined slate across diverse genres, including action, sci-fi, horror and comedy and have suggested a timeline extending to the fourth quarter of 2026. The joint venture also includes partnerships with other Asian companies including Screen Ops (HK), Fly Entertainment, Causeway Media Productions and IAmCasting. “Singapore and the Philippines have the individual potential to execute projects with commercial appeal,” said Tay. “But by building stories together with like-minded visionaries beyond our own shores, we can elevate the types of projects that are being produced in our collective countries.” Tay was the star and executive producer of 2018 Singapore zombie movie “Zombiepura.” He was also co-producer and director of HBO Asia’s first comedy drama series “SeNT” and is best known for playing multiple characters on Mediacorp satirical series “The Noose.” Headed by director Pedring Lopez and producer Rex Lopez, Black Ops Studios Asia and PsyOps Studios focus on action films and series.
It's set to be another cold start to the week in Greater Manchester - with Met Office snow and ice warnings remaining in place until lunchtime today.
Patrick Frater Asia Bureau Chief I.E. Entertainment, the global distribution outfit founded and run by industry veterans Indra and Erlina Suharjono, has come on board to handle worldwide sales for Cathay Film Company’s “Coolie.” The TV miniseries is inspired by the little-known history of enslaved Chinese ‘coolies’ in Cuba in the 1860s.
Jarvis Cocker played a Hong Kong show having broken his ribs shortly before taking to the stage – watch the footage below.The singer was performing with Pulp at the second 2023 edition of Clockenflap Festival, where they headlined alongside YOASOBI and Swae Lee (who replaced Joji last-minute).“This is a very unique concert,” he told the crowd, “because I fell down some stairs when I first arrived in Hong Kong. I had to go to the doctors so I do have two fractured ribs… so I’m not really sure what’s going to happen in the next hour.”In a social media post, he expanded upon the accident: “I broke 2 ribs when I fell down a staircase in Kowloon (swipe for evidence) but the hospital got me so I could still do the show,” he wrote.
Patrick Frater Asia Bureau Chief CJ ENM (Hong Kong), a channels and content distributor that is part of the Korean CJ ENM conglomerate, has picked up pay-TV rights in parts of Asia to a handful of Korean series that were co-financed by streaming platform Tving and Paramount+. The deal was struck with Paramount Global Content Distribution. The productions are part of a global strategic partnership between CJ ENM and Paramount Global that was announced in December 2021. The deal was announced on the eve of the Asian TV Forum (ATF), which kicks off next week in Singapore. The series debut first on Tving in Korea and on Paramount+ in the U.S., Canada, U.K., Australia, Latin America, Brazil, Italy, France, Germany, Switzerland and Austria.
It’s hard to believe that the Great British Bake Off has been delighting audiences for over 13 years, but as the latest series came to its nail-biting conclusion and yet another talented baker was crowed the winner - we can’t help but recall some of the other much loved bakers to have delighted audiences in the tent over the years. From its early beginnings on BBC Two, under the watchful eye of Mary Berry and Paul Hollywood, through to its revival on Channel 4 with Prue Leith at the helm, there has been no shortage of bold personalities and memorable characters in the show’s enduring history.
Patrick Frater Asia Bureau Chief Lightning International, the Hong Kong- and U.K.-based content distribution and solutions company, is expanding its staff ahead of the upcoming Asia TV Forum & Market (ATF) in Singapore. It has hired Eric Tan to be director of content sales Asia. He will be responsible for all aspects of channel and content distribution.
Police received tip-offs from as far afield as Thailand and Spain following the murder of Ashley Dale, it has been revealed.
Patrick Frater Asia Bureau Chief The Taipei Golden Horse Film Festival drifted to a conclusion in midweek, with project awards presented on Wednesday, followed by Thursday’s festival closing events. These involved a screening of portmanteau film “Tales of Taipei” followed by a sit-down dinner-cum-ceremony with a breezy pair of speeches and no prizes. The film fortnight then sprang to life again on Saturday evening when the 60th edition of the Golden Horse Film Awards represented a new climax.
Patrick Frater Asia Bureau Chief “Wellington Paranormal,” the series spinoff from 2014 breakout hit film “What We Do In the Shadows,” is launching an audio companion piece. It is produced by Frank Podcasts, a new New Zealand-based podcast network, headed by Mike Minogue and Tim Batt. The podcast will feature actors, writers, directors and more, delving into the making of the Jemaine Clement produced and Taika Waititi executive produced TV series, “Wellington Paranormal.” The show is hosted by Minogue (who played Officer Minogue in the series) and Karen O’Leary (Officer O’Leary), with Maaka Pohatu (Sarge) and Tom Sainsbury (Officer Parker) as recurring guests.
Patrick Frater Asia Bureau Chief Mirror, the Hong Kong boy band that shot to fame in 2018 but had its live career cut short by a tragic on-stage incident, will return to in-person live performances in January. The 12-piece band will play 16 shows at the Asia World Expo auditorium, one of Hong Kong’s largest venues, as part of their ‘Mirror Feel the Passion Concert Tour 2024.’ They will perform Jan. 15-17, 19-22, 24-27, 29-31, and Feb.
Patrick Frater Asia Bureau Chief Producer and screenwriter, Darren Dale has been named as the new board chair of the Sydney Film Festival, following the retirement of Dianne Weir. He is a leading advocate for Aboriginal and Torres Strait Islander content and has been director of Blackfella Films since 2000.