Business
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How Comcast’s Cable Spinoff Could Fuel Media Consolidation | Analysis
The decision to cut the cord is a chance to roll up other distressed linear TV assets, but the move would face its own challenges
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Legendary Names Blair Rich Chief Marketing and Commercial Officer
The exec had been advising the company for the past year on the marketing of “Dune: Part Two” and “Godzilla x Kong”
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New York Times Adds 260,000 Digital Subs, Boosts Profits by 19.6%
The media company spent another $4.6 million on litigation related to its suit against Microsoft and Open AI over copyright infringement
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News
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Political Ads Drive Fox Revenue to 11% Increase
The continued growth of Tubi and Fox Sports’ “Summer of Soccer” also contributed to the year-over-year jump
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WrapPRO
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Warren Buffett’s Berkshire Hathaway Continues Selling Off Apple Stock
The investment titan’s company remains the iPhone manufacturer’s largest stockholder
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Elon Musk Fails to Get Ex-Twitter CEO’s Severance Pay Claim Dismissed
A judge rules that former execs can pursue claims against the X owner for axing them to avoid paying those benefits
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Disney Forms Business Unit Focused on Use of AI, Mixed Reality
The Office of Technology Enablement, led by Walt Disney Studios CTO Jamie Voris, comes after TheWrap exclusively reported a major AI initiative was in the works
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Fremantle Promotes Kevin Woodward to Production EVP
Original Productions’ Ryan Abbott will also move into an expanded post-production and supervisory music role at the company
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Amazon Ad Sales Rise 19% to $14.3 Billion in Q3
Sales for subscription services, which includes Prime Video, grew 11% to $11.3 billion during the quarter
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Comcast Exploring Spinoff of Cable Networks
The NBCUniversal parent is also open to streaming partnerships to help grow Peacock
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Peacock Q3 Loss Narrows to $436 Million as Paris Olympics Boost Subs to 36 Million
The streamer’s revenue grew 82% year over year to $1.5 billion
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Meta Posts Record $15.7 Billion Profit as Net Income Balloons 35% in Q3
CEO Mark Zuckerberg says the Facebook parent company will continue to invest in AI and virtual reality because the upside is “really big”
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Tech
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Imax Revenue Down 12% From ‘Oppenheimer’ Boom, But Improves From Q2 to $91.5 Million
“Deadpool & Wolverine” and “Alien: Romulus” helped the premium format company stabilize after a rough start to summer box office
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Business
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Roku Posts More Than $1 Billion in Revenue in Q3 for First Time, Shaves Net Loss to $9 Million
The streamer and hardware maker, which is in 85.5 million households, will stop reporting the metric starting in the first quarter of 2025
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Fandom Lays Off More Staff in Latest Restructuring
The wiki-driven web company owns brands like GameSpot, Metacritic, GameFAQs, Screen Junkies and TV Guide
