Amazon Hits $7.8B in Profit Under New CEO, But Sales Fall Below Exp...

Aug

01

2021

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By Troy Warren

Amazon Hits $7.8B in Profit Under New CEO, But Sales Fall Below Expectations

Business, DigitalAmazon

BY J. CLARA CHAN | HollywoodReporter.Com Troy Warren for CNT Net income increased 50 percent in Q2 for the company, now led by CEO Andy Jassy, but sales fell below Wall Street expectations. Amazon reported $7.8 billion in profit during the second quarter, but its sales numbers — $113.1 billion — fell slightly below Wall Street expectations. The Q2 performance represents a 50 percent increase in profit compared to the previous quarter and a 27 percent increase in sales for the company, which is now led by new CEO Andy Jassy. But investors had expected sales for the quarter to surpass $115…

Aug

01

2021

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By Troy Warren

Phoenix: Secondhand store opens in tony Biltmore Fashion Park

Business, City NewsMySistersCloset, PhoenixNewsAndTalk

Russ Wiles | Arizona Republic Troy Warren for PhoenixNewsAndTalk.Com When Ann Siner opened her first store 30 years ago, she recalls that a lot of people didn't want to admit that they shopped secondhand. The perception of resale outlets was that of tired, dusty stores piled high with all sorts of bric-a-brac — the types of enterprises relegated to dingy strip malls or bleak storefronts. "Even five years ago, Biltmore Fashion Park probably wouldn't have had anything to do with us," she said. It does now. My Sister's Closet, part of the consignment chain Siner owns with her sister Tess Loo, in July opened a store at…

Jul

31

2021

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By Troy Warren

Los Angeles: Streamland Closes Buy of Sim Video as Postproduction Giant Expands

Business, City News, DigitalLosAngelesNewsAndTalk, SimVideo, Streamland

BY CAROLYN GIARDINA | HollywoodReporter.Com Troy Warren for LosAngelesNewsAndTalk.Com Combined with the recent purchase of Technicolor Post, the Bill Romeo-led company has widened its Los Angeles and global footprint. Streamland Media has completed its acquisition of Sim Video International’s postproduction business, roughly three months after it acquired Technicolor’s post business. Terms of the deal were not disclosed. Plans for the Los Angeles-headquartered Streamland — the parent of leading audio post facility Formosa Group as well as Picture Shop, Picture Head, Ghost VFX, The Farm Group and Finalé Post — to acquire Sim were first announced in April. The Sim Post acquisition, like the Technicolor…

Jul

30

2021

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By Troy Warren

Bob Dylan Beats Lawsuit Over $300M Songs Sale

Business, MusicBobDylan, CityNewsAndTalk, JacquesLevy, UniversalMusic

BY ERIQ GARDNER | HollywoodReporter.Com Troy Warren for CNT A New York judge rules that Jacques Levy, who shares credits on songs including "Hurricane," merely is entitled to a portion of licensing income. Bob Dylan can rest easy that he won’t have to hand over a portion of his $300 million sale of his entire song catalog to Universal Music. On Friday, a New York judge rejected a complaint from the estate of Jacques Levy, who collaborated with Dylan on his 1976 album Desire. Levy’s widow targeted at least $7.25 million from the sale of 10 songs, including “Hurricane,” but Dylan argued that the songs were written under a…

Jul

30

2021

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By Troy Warren

Disney sued by Black Widow star Scarlett Johansson over movie’s streaming release

Business, Editors Picks, In The NewsBlackWidow, CityNewsAndTalk, Disney, ScarlettJohansson

Joan E. Solsman | CNET.Com Troy Warren for CNT Johansson alleges the Disney Plus release violated her contract and affected how much she was paid. Disney is being sued by Black Widow star Scarlett Johansson over the company's decision to sell the Marvel blockbuster on its streaming service Disney Plus simultaneously with its release in theaters. The suit alleges that Disney breached Johansson's contract, claiming she was guaranteed an exclusive theatrical release and missed out on compensation because her pay was partly tied to the the film's box-office performance -- but not on any success streaming. Disney said the complaint had "no merit whatsoever." "The lawsuit is especially sad and distressing…

Jul

29

2021

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By Troy Warren

iHeartMedia Strikes Multiyear Deal With NBA for 20 Podcasts

Business, DigitalCityNewsAndTalk, iHeartMedia, Podcast

BY J. CLARA CHAN | HollywoodReporter.Com Troy Warren for CNT The audio giant and the league will co-produce multiple projects over the next four years, with the first show expected to premiere this fall. iHeartMedia has reached a multiyear podcast deal with the NBA that will result in more than 20 podcasts over the next four years, the audio giant said on Wednesday. The podcast deal comes three months after iHeartMedia announced it was creating a podcast network for the NFL as part of a multiyear, exclusive partnership. The NBA’s podcasts, which will be co-produced by iHeartRadio and the NBA, will include a mix of content from the…

Jul

29

2021

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By Troy Warren

NBCUniversal’s Quarterly Earnings Rise 13 Percent as Theme Parks Return to Profit

BusinessCityNewsAndTalk, Comcast, NBCUniversal

BY GEORG SZALAI | HollywoodReporter.Com Troy Warren for CNT Comcast reported its second-quarter results, including for its entertainment unit and European pay TV arm Sky. NBCUniversal’s second-quarter adjusted earnings rose nearly 13 percent, helped by a return of the entertainment unit’s theme parks business to profitability after a year-ago loss due to the coronavirus pandemic, parent company Comcast said on Thursday. The media, entertainment and technology conglomerate said the increase came despite a $363 million loss related to streaming service Peacock in the latest period. Comcast didn’t immediately provide a user update for Peacock. It had in its previous financial update in late April mentioned…

Jul

28

2021

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By Troy Warren

Delta loosens ticket restrictions after customers can’t reach agents

Business, In The News, TravelCityNewsAndTalk, DeltaAirlines

By Kelly Yamanouchi, The Atlanta Journal-Constitution Troy Warren for CNT Delta Air Lines is loosening restrictions on basic economy tickets to reduce the deluge of frustrated travelers facing hours-long waits on customer service phone lines. Basic economy tickets normally do not allow any changes to the itinerary, even for a change fee. The airline temporarily allowed more flexibility during the pandemic, but that policy ended earlier this year. Starting Wednesday, however, Delta will temporarily allow changes to basic economy tickets for travel through Dec. 31, 2021, “to help address call wait times as we increase staffing,” CEO Ed Bastian wrote in an update to customers.…

Jul

28

2021

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By Troy Warren

Spotify Hits 165M Paying Subs, Misses Total User Target, Ad Revenue Jumps

Business, Entertainment, MusicCityNewsAndTalk, Spotify

BY GEORG SZALAI | HollywoodReporter.Com Troy Warren for CNT The music streamer, led by CEO Daniel Ek, reports a 110 percent ad gain, helped by podcasts from the likes of Joe Rogan, Bill Simmons and the Obamas. Music-streaming giant Spotify said on Wednesday that it ended the second quarter with 165 million premium, or paid, subscribers. It had ended the first quarter with 158 million and forecast 162-166 million by the end of June. Spotify by then also reached 365 million total monthly active users (MAUs), which came in below its guidance range of 366-373 million, the Wednesday earnings update showed. The firm had ended the first…

Jul

27

2021

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By Troy Warren

Sandy Springs: UPS 2Q sales, profit soar despite fewer packages

Business, City NewsSandySpringsNewsAndTalk, UPS

By Kelly Yamanouchi, The Atlanta Journal-Constitution Troy Warren for SandySpringsNewsAndTalk.Com UPS reported a steep rise in revenue and profit for the second quarter of the year, even as it delivered fewer packages. The shipping giant handled 0.8% fewer packages than it did in the same quarter a year ago, but brought in 15% more revenue per package. It carried more pricey next-day air and international packages and fewer of the less-expensive deferred and ground packages. The Sandy Springs-based company said Tuesday its net income soared 51% to $2.68 billion from $1.77 billion a year ago. Revenue rose 15% to $23.42 billion from…

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