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Tag: media

Disney lays off more than 300 streaming-focused employees in China

Walter Disney Co. DIS 2.16% has laid off more than 300 Beijing employees working on its streaming services, according to people familiar with the situation, as part of a cost-cutting and restructuring effort at the entertainment company. The layoffs in China come after Disney this week began implementing the first wave of cuts in a […]

March 30, 2023
Disney is eliminating its Metaverse division as part of the company’s layoff plan

Mickey Mouse has left the metaverse. Walter Disney Co. DIS 1.64% has eliminated its next-generation storytelling and consumer experience division, the small division that people familiar with the situation said was working on metaverse strategies, as part of a broader restructuring that is expected to reduce company-wide workforce by approximately 7,000 over the next two […]

March 28, 2023
Disney layoffs begin this week, Bob Iger said in a memo

Bob Iger, CEO, Disney, during CNBC interview, February 9, 2023. Randy Schropshire | CNBC Disney will begin layoffs this week, the first of three rounds for early summer that will result in about 7,000 job cuts, according to a memo from Chief Executive Bob Iger. The cuts are part of a broader effort to reduce […]

March 27, 2023
Twitter offers new stock exchanges to staff

Twitter Inc. is offering new equity grants to staff who vest after six months, according to an email sent late Friday, which was reviewed by The Wall Street Journal. The company plans to offer a liquidity event in about a year, where employees can cash in some of their equity, the email shows. The number […]

March 26, 2023
DirecTV strikes a deal to bring back Newsmax

DirecTV and Newsmax have reached a new multi-year deal that will bring the conservative channel back to some 13 million customers this week. The deal marks the end of a protracted and bitter PR battle between the two companies that hinged on carrier fees, with Newsmax leadership repeatedly accusing the cable provider of political bias. […]

March 22, 2023
From the sudden collapse of the SVB to the consequences of Credit Suisse: 8 charts show turbulence in the financial markets

A tumultuous week in US financial markets ended on an uncertain note Friday after a massive $30 billion injection of large bank deposits into First Republic Bank failed to appease investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – concerns about weakness in […]

March 18, 2023
Google raises the price of YouTube TV to $73 because of the cost of content

YouTube TV’s price will increase from $65 a month to $73 a month starting in April, according to an email sent to subscribers on Thursday. “As content costs have increased and we continue to invest in the quality of our service, we are updating our pricing to continue to provide you with the best service […]

March 16, 2023
US threatens ban if TikTok’s Chinese owners don’t sell stakes

WASHINGTON — The Biden administration is demanding that TikTok’s Chinese owners sell their shares in the video-sharing app or risk a potential U.S. ban on the app, according to people familiar with the matter. The move represents a major policy shift on the part of the government, which has come under fire from some Republicans […]

March 15, 2023
What happened to Silvergate Capital? And why does it matter?

Silvergate capital AND served as one of the most important banks for the crypto industry before it collapsed earlier this week. The news came just a week after the company delayed its annual report to the U.S. Securities and Exchange Commission, causing Silvergate Capital’s shares to collapse. Here’s a rundown of the timeline of what […]

March 12, 2023
Stablecoin USDC breaks dollar peg after company reveals it has $3.3 billion in SVB exposure

US cryptocurrency firm Circle’s USD Coin lost its dollar peg and fell to a record low Saturday morning. The company revealed it has tied up nearly 8% of its $40 billion in reserves with collapsed lender Silicon Valley Bank. USDC was designed to trade at $1 but fell below 87 cents on Saturday, according to […]

March 11, 2023