Business
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Apple Revenues Slip 4% to $90.75 Billion on Weaker Device Sales
Net income also fell 2% to $23.64 billion despite the device maker scoring a 14% jump in Services revenues to a quarterly record
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Paramount Shares Climb Over 13% as Sony, Apollo Make $26 Billion Offer
The non-binding expression of interest comes as exclusive discussions with David Ellison’s Skydance Media are set to expire on Friday
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Sony Pictures Television Names Kate Gill as SVP of Comedy Development
The former Paramount TV Studios exec will oversee development for new comedy series across all platforms
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Paramount Shareholder Asks for Court Order to Obtain Documents Tied to Skydance Merger Talks
The Employees’ Retirement System of Rhode Island is concerned Shari Redstone may be interfering with the board’s ability to find the best deal for shareholders
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Fubo, Dish, DirecTV Urge Congress to Hold Hearing on Future of Pay TV Competition
The letter warns that Fox, Disney and Warner Bros. Discovery’s sports streaming joint venture raises “serious competition concerns”
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Fox-Disney-WBD Sports Streaming Joint Venture Taps Jessica Casano-Antonellis as Communications SVP
The SiriusXM veteran will serve on the JV’s executive leadership team and be responsible for all comms for the upcoming platform
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Cinemark Stock Jumps as $579 Million Q1 Revenue Beats Expectations
The Texas-based theater chain dipped just 5% from 2023 revenue despite lower box office performance compared to last year
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Movies
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Tyler Perry Studios, Asylum Entertainment Group Form Unscripted Content Joint Venture
The partnership will be overseen by Tyler Perry Studios’ vice president of unscripted programming Antoinetta Stallings
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Which Streaming Movies and Shows Get to Go to DVD and Blu-ray?
Shows like Netflix’s “Wednesday” illustrate how a physical release depends on distribution deals, IP considerations and shrinking retail space
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WrapPRO
Available to WrapPRO members
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Fubo Sports Streaming Platform Cuts Ties With Warner Bros. Discovery, Citing ‘Abuse of Massive Market Power’
The media company accuses WBD of refusing “to engage in good faith negotiations”
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Paramount, Charter Communications Carriage Negotiations to Continue, Averting Blackout
The extension comes after renewal talks were initially set to expire at midnight on Tuesday
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Amazon’s Prime Video Ad Tier Helps Boost Q1 Ad Revenue By 24% to $11.8 Billion
The Big Tech company, which launched the ad tier in January, also saw an 11% jump in overall subscription revenue
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Business
Available to WrapPRO members
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Warner Bros. Discovery Stock Tanks Over 9% Amid Concerns It Could Lose NBA Rights
The conglomerate’s TNT has aired basketball since 1989, but NBCUniversal is reportedly closing in on snatching rights
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Jeff Zucker’s RedBird IMI to Sell Telegraph Group Rights After UK Blocks Buyout
The Abu Dhabi-backed firm’s attempt to take over the conservative outlets faced opposition from British leadership over foreign funding
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Matrix Asset Advisors Slams Paramount Over Bob Bakish Exit: ‘Everything About Today’s Update Is a Disgrace’
“This is a major unforced error that will cost the company upwards of $50 million,” the firm’s chief investment officer David Katz tells TheWrap
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Business
Available to WrapPRO members