Business
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Roku Shares Plummet 23% as Wall Street Sours on 2024 Outlook
A slowdown in industry spending and rising competition wiped out all of the stock’s gains in the last quarter
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Jeff Zucker’s Redbird IMI to Acquire ‘The Traitors’ Studio All3Media for $1.45 Billion
Warner Bros. Discovery and Liberty Global Ltd. are selling the company
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Cinemark Revenue Rises 6.5% to $638.9 Million Despite Weak Q4 for Box Office
The theater chain reported an all-time high food and beverage per cap of $5.68 per patron
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News
Available to WrapPRO members
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Paramount to Shut Down Noggin After Company Layoffs
The interactive learning platform for preschoolers will no longer take new subscribers
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Paramount’s Chris Petrikin Joins Consulting Firm Actum as Managing Director
The comms executive, also formerly of 20th Century Fox, will run the company’s entertainment and media division
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Roku Stock Plunges 17% on ‘Challenging’ Media and Entertainment Outlook for 2024
The streamer and hardware maker topped 80 million active accounts in 2023, up 14% year over year
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WrapPRO
Available to WrapPRO members
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Paramount Shares Drop About 7% After Warren Buffett’s Berkshire Hathaway Sells 1/3 of Stake
Prior to the sale, Buffett’s company owned approximately 15% of the entertainment giant
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Disney Promotes Debra OConnell to News Group and Networks President
The executive, who currently oversees ABC Owned Television Stations, will add ABC News to her purview
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Nelson Peltz Slams Disney’s Sports Streaming Joint Venture, $1.5 Billion Epic Games Stake
The activist investor argues that “throwing spaghetti at the wall” is not going to feed shareholders who have been “starved of returns for so long”
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FX Boss John Landgraf Explains How Peak TV Changed Consumer Expectations ‘Forever’
“You can’t unring that bell” the executive tells TheWrap of consumer expectations about TV quality and speed
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TV
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Paramount Global to Lay Off 800 Amid Major Cost-Cutting Moves
Memo from CEO Bob Bakish outlines “streamlining costs” as company aims to return to profitability
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Amazon Prime Video Sued for Misleading Subscribers With New Ad Tier
The class action lawsuit filed Friday cites breach of contract and state consumer protection law violations
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Freeform Remains ‘Dedicated’ to Female YA Audience, Disney’s Craig Erwich Says
The executive touted a “full slate” for the network in 2024 despite no scripted series in the works
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Brent Magid Says Hollywood ‘Can’t Just Create From a Spreadsheet’ – but Consumer Data Is Still ‘Crucial’
Office With a View: Focusing on what audiences have already done is “only part of the picture,” the research executive tells TheWrap
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Office With a View
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FX Boss Says Streaming Wars Are ‘Far From Over’ Despite Industry’s Licensing Pivot
“Competition creates quality,” John Landgraf told reporters during the Winter Television Critics Association press tour on Friday
