Latest Business News
Daryl Hall Secures Restraining Order Against John Oates in Unfolding Business Dispute
A confidential legal battle is brewing between rock duo Hall & Oates, with Daryl Hall securing a temporary restraining order against John Oates. Hall, through his trust, filed a lawsuit against Oates on Nov. 16, along with a motion to keep the case under seal. The next day, Nashville Chancery Court Judge Russell Perkins issued […]
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Cineplex Sells Player One Amusement Group for $155M
Canadian exhibitor Cineplex has unveiled a definitive agreement with OpenGate Capital to sell Player One Amusement Group for $155 million, the company said Wednesday. The deal will see Los Angeles-based private equity firm OpenGate acquire all issued and outstanding common shares of the amusement gaming provider. “Player One represents a dynamic investment and opportunity to […]
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OpenAI Bringing Back Sam Altman as CEO Days After Firing
In another plot twist, artificial intelligence start-up OpenAI, the parent company of ChatGPT, said that co-founder Sam Altman was set to return as its CEO after days of drama following a showdown between him and the company’s board that fired him. “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with […]
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New Lawsuit Ropes Microsoft Into OpenAI’s Legal Battle With Authors Over Training Data
A new lawsuit from an author whose work was used to train OpenAI’s artificial intelligence model spotlights the company’s partnership with Microsoft to create ChatGPT. The suit, filed in New York federal court on Tuesday, thrusts the tech giant into the unfolding legal battle for the alleged “rampant theft” of copyrighted material to fuel one […]
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Univision CEO Tells Staff We’re “Not a Tool of Any Party” Amid Trump Interview Backlash
TelevisaUnivision CEO Wade Davis sent a memo to staff Tuesday addressing backlash the network has faced after a controversial interview with former President Trump that some viewed as too friendly. In the memo, Davis said despite the criticism, the company continues to maintain a nonpartisan approach to news. He notes that the Nov. 9 interview […]
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Penske Media Promotes Brooke Jaffe to Senior VP, Public Affairs & Strategy
Penske Media Corp. has promoted Brooke Jaffe to senior vp, public affairs & strategy. Jaffe joined PMC in 2019 and most recently served as vp, public affairs and communications. In her new role, she will continue to help grow new and existing businesses across PMC’s portfolio of around 30 brands, including The Hollywood Reporter, Dick […]
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Susan Sarandon Dropped by UTA Over Comments About Israel-Hamas Conflict
Susan Sarandon has been dropped by United Talent Agency, The Hollywood Reporter has confirmed. A talent agency spokesperson said UTA is no longer representing the Oscar winner. The parting of ways follows controversial remarks made at a pro-Palestinian rally in New York City’s Union Square on Nov. 17. “There are a lot of people afraid […]
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Sarah Silverman Hits Stumbling Block in AI Copyright Infringement Lawsuit Against Meta
A federal judge has dismissed most of Sarah Silverman’s lawsuit against Meta over the unauthorized use of authors’ copyrighted books to train its generative artificial intelligence model, marking the second ruling from a court siding with AI firms on novel intellectual property questions presented in the legal battle. U.S. District Judge Vince Chhabria on Monday […]
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Blink49 Acquires Majority Stake In TV Movie Producer Front Street Pictures
Fifth Season-backed Blink49 Studios has acquired a majority stake in Front Street Pictures, a prolific TV series and movies producer for Hallmark, Lifetime, Sony, Universal, Warner Bros., Tubi and Paramount. Terms of the investment were not disclosed, but the agreement expands Blink49’s Canadian production reach as part of its first major acquisition. Vancouver-based Front Street […]
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Box Office Forecast Takes Hit Amid Release Date Delays During Strikes
With the Hollywood writers and actors strikes having been resolved and studios having delayed some key releases, how will the box office be affected? Exhibition stocks analyst Eric Wold of B. Riley took a stab at answering the question, adjusting his forecasts in a Tuesday report. He reduced his 2024 industry box office projection “given […]
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European Original Content Spend Hits $23B, Driven By Streamers
The global streamers have plowed money into original European television shows, increasing spending by 70 percent in 2022 to approximately $5.4 billion (€4.9 billion) compared to a year earlier, according to a new report published by the European Audiovisual Observatory (EAO), an independent media think tank. Overall, the streamers’ share of total investment in European […]
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A New Warning Sign for Pay TV Erosion
Cord-cutting amid the rise of streaming services and the high price of the TV bundle has significantly reduced pay TV penetration in the U.S. in recent years, while Asia-Pacific and Europe have continued to experience growth. Now, research firm Ampere Analysis is predicting this will change, forecasting that 2024 will record the first-ever annual decline […]
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Elon Musk’s X Sues Media Matters Amid Advertiser Exodus
In the wake of major advertisers pausing their spending on X shortly after Elon Musk’s reply to an antisemitic conspiracy theory, the social media service formerly known as Twitter has sued left-wing advocacy group Media Matters for allegedly defaming the platform by reporting that ads for major companies appeared next to antisemitic content. The lawsuit, […]
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Congressional Hispanic Caucus Asks to Meet With TelevisaUnivision CEO Amid Trump Interview Backlash
The Congressional Hispanic Caucus on Monday afternoon asked for a meeting with TelevisaUnivision CEO Wade Davis, raising concerns about the company’s “continued commitment to its mission and its audience” and citing concerns about “preventing the spread of mis- and disinformation in Latino communities.” According to the letter, a copy of which was shared with The […]
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Sony Pictures’ Immersive Entertainment Destination Wonderverse to Open in Chicago Area This January
Sony Pictures is giving fans of some of its most popular titles and franchises the chance to immerse themselves in the worlds of Ghostbusters, Uncharted, Zombieland and more as part of a new 45,000 square-foot entertainment destination. The studio will launch Wonderverse, its very first immersive entertainment destination, this December just outside of Chicago on […]
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Linda Yaccarino: “Deceptive Attacks” Are Fueling X Advertiser Exodus
X CEO Linda Yaccarino sent a note to employees Sunday evening, saying the report on antisemitic content on the social media platform is “misleading” and that the company is in the midst of battling “deceptive attacks.” The statement comes after a report from nonprofit Media Matters for America released Thursday, which found that the platform […]
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