Business

Jan

20

2022

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By Troy Warren

US jobless claims rise to 286,000, highest since October

Business, In The NewsBusiness

By PAUL WISEMAN, Associated Press Troy Warren for CNT #Business WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose to the highest level in three months as the fast-spreading omicron variant continued to disrupt the job market. Jobless claims rose for the third straight week — by 55,000 to 286,000, highest since mid-October, the Labor Department reported Thursday. The jump in claims marked the biggest one-week increase since mid-July. The four-week average of claims, which smooths out weekly volatility, rose by 20,000 to 231,000, highest since late November. Economists said that last week's claims may have been…

Jan

19

2022

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By Troy Warren

New York AG says Trump’s company misled banks, tax officials

Business, In The NewsBusiness

By MICHAEL R. SISAK, Associated PressTroy Warren for CNT #BusinessNEW YORK (AP) — The New York attorney general’s office late Tuesday told a court its investigators had uncovered evidence that former President Donald Trump’s company used “fraudulent or misleading” asset valuations to get loans and tax benefits.The court filing said state authorities haven’t yet decided whether to bring a civil lawsuit in connection with the allegations, but that investigators need to question Trump and his two eldest children as part of the probe.Trump and his lawyers say the investigation is politically motivated.In the court documents, Attorney General Letitia James' office…

Jan

19

2022

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By Troy Warren

ALERT: Major airlines cancel, change flights to US over 5G dispute

Business, In The News, Travel5G, Business, Travel

By JON GAMBRELL, Associated PressTroy Warren for CNT #Travel #BusinessDUBAI, United Arab Emirates (AP) — Major international airlines canceled flights heading to the U.S. or changed the planes they're using Wednesday, the latest complication in a dispute over concerns that 5G mobile phone service could interfere with aircraft technology.Some airlines said they were warned that the Boeing 777, a plane used by carriers worldwide, was particularly affected by the new high-speed wireless service. The aircraft is the workhorse for Dubai-based Emirates, a key carrier for East-West travel, and its flight schedule took one of the biggest hits.It was not clear…

Jan

18

2022

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By Troy Warren

Microsoft to Buy Activision Blizzard in $68.7B Video Game Mega-Deal

Business, Digital, GamingActivision, Business, Digital, Gaming, Microsoft

BY ALEX WEPRIN | HollywoodReporter.ComTroy Warren for CNT #Digital #Business #GamingThe sale comes as the video game publisher has grappled with its own #MeToo reckoning.Tech giant Microsoft will buy the video game publisher Activision Blizzard in a $68.7 billion deal that would reshape the gaming landscape.The deal, if completed, would bring together Microsoft, which owns the Xbox game platform and Xbox Game Studios (which owns Bethesda Softworks and 343 Industries, among other game publishers) and Activision, owner of the Call of Duty, Warcraft and Tony Hawk franchises, among others.Microsoft will become the world’s third-largest gaming company by revenue, behind Tencent…

Jan

18

2022

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By Troy Warren

Why Hollywood Is Private Equity’s New Money Machine

Business, EntertainmentBusiness, Entertainment, PrivateEquity

BY ALEX WEPRIN | HollywoodReporter.ComTroy Warren for CNT #Entertainment #BusinessThe Wall Street logic with the studio buys is that the real estate will appreciate in value, while the non-stop demand in film and TV productions provide steady and stable cashflow.Private equity is doubling down on Hollywood.After dipping their toes in the water through the talent agencies (TPG owns a majority stake in CAA, while Silver Lake is the largest external shareholder in Endeavor), investment firms have been on a spending spree, snapping up stakes in production entities, or financing new vehicles like Kevin Mayer and Tom Staggs’ Candle Media to…

Jan

16

2022

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By Troy Warren

Netflix Increases Subscription Price in U.S. and Canada

BusinessBusiness

BY J. CLARA CHAN | HollywoodReporter.ComTroy Warren for CNT #BusinessThe price hikes are the first since Oct. 2020.Netflix has increased the price of its monthly subscription plans in the U.S. and Canada, effective immediately for new subscribers beginning on Friday.In the U.S., subscribers to Netflix’s basic plan, which allows for one stream on one screen at a time and does not have HD streaming, will now be charged $9.99 a month, up from $8.99. Standard plans — which allow for users to stream on two screens at the same time — now cost $15.49 per month, an increase from $13.99,…

Jan

14

2022

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By Troy Warren

Regal Owner Cineworld Turns Cash Flow Positive in Fourth Quarter, Touts ‘Spider-Man: No Way Home’

BusinessBusiness, RegalCineworld

BY GEORG SZALAI | HollywoodReporter.ComTroy Warren for CNT #Business The cinema giant says October and December revenue neared 2019 levels and confirms that it served its notice of appeal of an Ontario court decision against it over abandoning the planned acquisition of Canada's Cineplex.Exhibition giant and Regal owner Cineworld Group said on Friday that it turned cash flow positive in the fourth quarter thanks to improved revenue and cost controls and touted nearing pre-coronavirus pandemic revenue levels in December, helped by the likes of the newest Spider-Man movie.The cinema group, led by CEO Moshe “Mooky” Greidinger, also confirmed that it…

Jan

13

2022

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By Troy Warren

Delta: 8,000 employees tested positive for COVID-19 in last four weeks

Business, COVID-19, TravelBusiness, covid-19, DeltaAirlines, Travel

By Kelly Yamanouchi, The Atlanta Journal-ConstitutionTroy Warren for CNT #Travel #Business #COVID-19Delta Air Lines said about 8,000 of its more than 75,000 employees tested positive for COVID-19 in the last four weeks, contributing to thousands of flight cancellations over the busy holiday travel season.Delta CEO Ed Bastian said in an interview with The Atlanta Journal-Constitution the omicron variant is moving rapidly. Employees have been returning to work after recovering, allowing the airline to stabilize operations over the last week.Delta in late December pushed for the Centers for Disease Control and Prevention to reduce the recommended isolation time for positive cases…

Jan

11

2022

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By Troy Warren

WarnerMedia, Comcast Strike New Cable Carriage Deal

BusinessBusiness, Comcast, WarnerMedia

BY ALEX WEPRIN | HollywoodReporter.ComTroy Warren for CNT #BusinessA source says that WarnerMedia also recently renewed TV carriage deal with Altice.WarnerMedia and Comcast have come to terms on a new carriage deal, keeping WarnerMedia’s channels on Comcast cable systems for years to come. The deal covers TBS, TNT, CNN, Cartoon Network, TruTV, TCM and the other WarnerMedia channels, but it also includes CNN+, the upcoming streaming service.Comcast “plans to make CNN+ available to its Xfinity customers via its Xfinity X1, Xfinity Flex, and XClass TV platforms later in 2022,” the companies said Monday. The app will be available as an…

Jan

09

2022

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By Troy Warren

N.Y. Times Seals Deal to Buy The Athletic for $550M

Business, DigitalBusiness, Digital, NewYorkTimes, TheAthletic

BY ALEX WEPRIN | HollywoodReporter.Com Troy Warren for CNT #Digital #Business The Athletic launched five years ago with a focus on subscription local sports journalism. The New York Times is making its biggest acquisition in years. The journalism giant is buying the digital sports outlet The Athletic in a deal valued at $550 million in cash. The company officially announced the deal Thursday afternoon. The Athletic, launched in 2016, has focused on local sports and other sports-related beats with a focus on subscriptions. Along the way, the company poached some of the top sports beat writers in many markets, having them continue to cover…

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