Verizon Loses 84,000 Pay TV Subscribers, Virus Crisis Hits Media Unit

A firm which operates a busy Rutherglen car park has been accused of putting profits before people during the coronavirus crisis.

By Ellise Shafer

Entertainment companies this earnings season have spent much time discussing the novel coronavirus pandemic's impact on TV advertising revenue, film units and theme parks divisions. But audio entertainment trends have surprised Wall Street on the upside, providing a bright spot amid the virus crisis.

Media mogul Rupert Murdoch will give up 100 percent of his cash bonus in the current fiscal year at News Corp., the parent company of The Wall Street Journal, New York Post, News U.K. and Australian pay-TV firm Foxtel, of which he is executive chairman, while News Corp.

Dish Network on Thursday said it lost a record 413,000 net TV subscribers in the first quarter, compared with a loss of 259,000 in the year-ago period. The latest quarter's figure included the loss of 132,000 net Dish and approximately 281,000 net Sling TV subscribers.

By Jake Kanter

Movie theater giant Cineworld has weighed in on the growing controversy regarding Universal's decision to release Trolls World Tour on premium VOD instead of waiting for cinemas to reopen post-coronavirus pandemic, claiming that the studio took advantage of the crisis.

European movie theater giant Vue International has made a bold plea to its landlords in a bid to survive the novel coronavirus crisis. In a letter sent earlier this month and seen by The Hollywood Reporter, the multiplex chain — which operates almost 2,000 screens across 10 countries, including the U.K., Germany, Italy, Denmark and Taiwan — asked for a "complete waiver of all rent and service charge," which would have been due for the period of closure.

British Airways is set to make up to 12,000 workers redundant as a result of the ongoing coronavirus restrictions.

Bolton Wanderers Community Trust estimates the coronavirus pandemic has cost it £200,000 in lost income.

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TV station group Tegna on Monday said that "the full impact of the COVID-19 pandemic, particularly with regard to the broader advertising industry, remains uncertain" and suspended its full-year 2020 guidance. "We continue to carefully monitor business impacts and to be diligent in implementing cost saving measures to reduce expenses and reducing non-critical capital expenditures," the company, which has 62 stations in 51 markets and reaches 39 percent of all U.S.

French entertainment and telecom conglomerate Vivendi on Monday said its first-quarter revenue rose 11.9 percent, or 4.4 percent assuming constant currencies, to $4.20 billion (3.87 billion euros) on the strength of its music division.

As President Donald Trump has been holding daily press briefings to provide updates on the COVID-19 pandemic, Piers Morgan is speaking out against his "friend," criticizing how he's been handling leading the nation amid the virus crisis. Speaking on Sunday morning to Brian Stelter on CNN's Reliable Sources, the British talk show host admitted that he's been watching Trump's daily briefings with "mounting horror." "I've known him a long time.

As Americans ordered to self-quarantine increasingly go online for TV fixes, MoffettNathanson analyst Michael Nathanson on Friday touted Netflix as the leader in Hollywood's streaming wars over peers Amazon Prime, YouTube, Hulu and Disney+. "The world is trapped indoors, live sports on TV is non-existent, theaters are closed, unemployment is spiking to terrible levels, and new content is impossible to produce.

Comcast-owned European pay TV giant Sky said Thursday that it has committed to donate £500,000 ($625,000) to a recently established emergency relief fund to support the U.K.’s creative community amid the new coronavirus pandemic.

The WWE says that it is taking significant steps to reduce costs amid the coronavirus pandemic. While the company resumed its live wrestling matches this week on USA and Fox, like most media companies it is expecting the pandemic to impact its financial outlook.