Business
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FCC Seeks DEI Concessions From Paramount to Complete Skydance Merger
Trump appointee Brendan Carr has made eliminating DEI programs a prerequisite for any M&A approval
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Netflix Stock Hits All-Time High of $1,101 per Share, Up 98% Year Over Year
The streamer recently smashed Wall Street expectations for its first quarter of 2025
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Alphabet Profit Soars 46% in First Quarter to $34.5 Billion, Helped by AI-Assisted Search, YouTube Ads
The video platform’s ad revenue grew 10% year-over-year
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Tech
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Paramount Shareholder Mario Gabelli Seeks ‘More Equitable Distribution’ of Shari Redstone’s Payout in Skydance Merger
A Delaware court recently ruled that the investor has a “credible basis to suspect wrongdoing” in the $8 billion deal
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Comcast Revenue Slips to $29.9 Billion in First Quarter on Continued Broadband, Pay TV Subscriber Losses
Comcast’s theme parks business saw revenue tumble 5% to $1.9 billion in the first quarter, on lower attendance and impact from the L.A. wildfires
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WrapPRO
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Imax CEO ‘Highly Confident’ That China’s Plan to Reduce US Film Releases Won’t Affect His Company
Rich Gelfond expects that China will target smaller budget films, not those that “drives Imax’s business”
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Imax Revenue Jumps 10% to $87 Million in First Quarter on Record Success of ‘Ne Zha 2’
Fifty-five percent of the premium format’s $298 million box office gross came from the record-smashing Chinese animated film
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Business
Available to WrapPRO members
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Lionsgate Shareholders Approve Starz Split
Investors also approved its board director candidates at the company’s annual meeting on Wednesday
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Netflix’s Ted Sarandos Says Entertainment Industry Gets ‘Thrown Under the Bus’ in Trade Deals
The streamer contributed $125 billion to the U.S. economy between 2020 and 2024, creating 140,000 production jobs
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Warner’s Mike De Luca and Pam Abdy Are Safe (for Now) After ‘Sinners’ and ‘Minecraft’ Success
More risky gambles lie ahead, but Warner Bros.’ film chiefs have built a franchise hit and a new studio relationship with Ryan Coogler
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Movies
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SpinCo CEO Appoints Matt Hong, Jeff Behnke and Roy Cho in Key Roles for Comcast Spinoff
The executives will oversee the company’s sports and distribution businesses
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’60 Minutes’ EP Bill Owens Quits, Says He Lost Ability to Make Independent Decisions
“The show is too important to the country, it has to continue, just not with me as the Executive Producer,” Owens says in a memo to staff Tuesday
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Paul Feig Sets First-Look TV Deal With Warner Bros. Television Group
The multi-year pact marks the “Freaks and Geeks” creator’s first partnership with the studio
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Lionsgate Taps Brad Haugen to Lead Digital Strategy
The former Westbrook Media executive will oversee original content creation, brand partnerships and other digital storytelling initiatives for the studio
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How Lionsgate’s Spin-Off of Starz Will Unlock M&A Opportunities for Both | Analysis
The move will simplify both companies and make them “more digestible” for strategic buyers, one expert told TheWrap
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Business
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