Business

Nov

22

2021

0 Comments

By Troy Warren

Paramount Cuts 44 Roles Amid Restructure of Marketing Team

BusinessBusiness, Paramount

BY MIA GALUPPO | HollywoodReporter.Com Troy Warren for CNT #Business The studio is streamlining its domestic and foreign marketing operations under the leadership of Marc Weinstock. On Nov. 15, Paramount Pictures tapped worldwide marketing and distribution president Marc Weinstock to run one unified division, which will handle all global efforts. As a result of the reorganization, 44 positions have been eliminated across the marketing and distribution departments. In a memo to staff Wednesday, Weinstock explained, “We’ve had to make the difficult decision to eliminate some positions across the domestic and international marketing and distribution divisions. Internationally, as the new organization will also support…

Nov

21

2021

0 Comments

By Troy Warren

‘Walking Dead’ Profit Litigation Has Surprising New Chapter

BusinessAMC, Business, WalkingDead

BY ERIQ GARDNER | HollywoodReporter.Com Troy Warren for CNT #Business A new lawsuit is filed as AMC aims to move the fight into a secretive proceeding over whether Robert Kirkman and others get boosted profits thanks to the Frank Darabont settlement. Four months after AMC came to a $200 million settlement with Frank Darabont over profit claims for Walking Dead, the dispute has taken a surprising new turn with a new lawsuit filed Thursday in federal court. AMC apparently demands arbitration with Walking Dead creator Robert Kirkman and other executive producers of the hit zombie show. After many years in open court, the Kirkman gang…

Nov

20

2021

0 Comments

By Troy Warren

How Jaanuu founder Neela Sethi Young filled a gap in women’s scrubs

Business, Editors PicksBusiness, EditorsPicks, Jaanuu, SethiYoung

By Kiersten Willis, The Atlanta Journal-Constitution Troy Warren for CNT #Business #EditorsPicks When you think of scrubs, “fashion” isn’t usually what you associate with them. A Google search for “scrubs” will also reveal a “People also ask” result for “How do nurses look cute in scrubs?” It turns out Los Angeles-based pediatrician Dr. Neela Sethi Young has the answer to that. She co-founded the medical apparel company Jaanuu in 2012 with her brother, Sean Sethi. It was launched in an effort to “reimagine the multi-billion dollar medical apparel market via the industry’s first contemporary, antimicrobial-finished products,” according to her LinkedIn page. Sethi Young…

Nov

20

2021

0 Comments

By Troy Warren

Weta’s $1.6B Deal With Unity: How It Will Work

Business, GamingBusiness, Gaming, Unity

BY CAROLYN GIARDINA | HollywoodReporter.Com Troy Warren for CNT #Business #Gaming The sale of the 'Lord of the Rings' helmer’s tech division to Unity is viewed as a shrewd move for the publicly traded firm to make gains in the rapidly evolving area of virtual production: "The space is exploding." On Nov. 9, publicly traded tech firm Unity — maker of the Unity real-time game engine used in production from games to movies — surprised many in Hollywood when it unveiled a deal to acquire the tech assets of Peter Jackson’s Weta Digital for $1.6 billion. This included roughly 275 engineers, a…

Nov

19

2021

0 Comments

By Troy Warren

CVS plans to close hundreds of drugstores over the next 3 years

BusinessBusiness, CVS

By Tom Murphy, The Associated Press Troy Warren for CNT #Business CVS Health will close hundreds of drugstores over the next three years, as the retail giant adjusts to changing customer needs and converts to new store formats. The company said Thursday that it will close about 300 stores a year for the next three years, nearly a tenth of its roughly 10,000 retail locations as it reduces store count density in some places. CVS said it has been evaluating population changes, customer buying patterns and future health needs to “ensure it has the right kinds of stores in the right…

Nov

18

2021

0 Comments

By Troy Warren

Home Depot sales surge in hot housing market

Business, Real EstateBusiness, RealEstate

By MICHELLE CHAPMAN, Associated Press Troy Warren for CNT #Business #RealEstate Home Depot’s sales continued to climb through the third quarter with the U.S. housing market red hot. Revenue rose 9.8% to $36.82 billion, exceeding the $34.97 billion Wall Street had expected, according to a survey by Zacks Investment Research. Sales at stores open at least a year, a key gauge of a retailer's health, jumped 6.1%, also better than expected. Those sales rose 5.5% in U.S. stores. Home Depot Inc. earned $4.1 billion, or $3.92 per share, easily topping projections of $3.41, as well as last year's quarterly profit of…

Nov

17

2021

0 Comments

By Troy Warren

Home Depot reaping rewards of fixer-upper frenzy

Business, Home & GardenBusiness, HomeDepot, HomeGarden

By Michael E. Kanell, The Atlanta Journal-Constitution Troy Warren for CNT #Business #HomeGarden Home Depot on Tuesday reported a nearly 10% jump in sales last quarter, much of it attributed to a continuing surge in home improvement projects brought on by a hot housing market. Executives of the Vinings-based retail giant said a spike in housing prices over the past year has encouraged owners to invest in their homes, spurring demand for tools, materials and services. The price of an existing home has climbed about 22% since April 2020, according to the S&P/Case Shiller Index. Inflation has not slowed company sales,…

Nov

16

2021

0 Comments

By Troy Warren

There are more jobs than jobless people in 42 states

BusinessBusiness, JobsUSA

By Tim Henderson, Stateline.org (TNS) Troy Warren for CNT #Business Georgia among states in need of workers, according to federal statistics A record number of job openings and fewer workers to fill them have left 42 states with more available jobs than people looking for work, according to a Stateline analysis of federal statistics from August, the latest available. Employers such as RF Buche, who runs a 116-year-old family chain of South Dakota fast-food restaurants and convenience stores, are scrambling to fill shifts and cutting store hours because they can’t find enough help during the pandemic. “I’m more worried about burnout…

Nov

15

2021

0 Comments

By Troy Warren

Trump’s Washington hotel to be sold, renamed Waldorf Astoria

BusinessBusiness, TrumpHotel

By Gillian Tan and Yueqi Yang, Bloomberg News Troy Warren for CNT #Business Donald Trump’s family-run company reached a deal to sell the rights to its Washington, D.C., hotel for $375 million, after which the property will be branded as Waldorf Astoria, according to people familiar with the matter. A Miami-based investment firm, CGI Merchant Group, is in contract to acquire the hotel lease for the Trump International Hotel, situated less than a mile away from the White House on Pennsylvania Avenue, said the people, who declined to be identified because the matter is private. The transaction is expected to be…

Nov

15

2021

0 Comments

By Troy Warren

“Taxes Destroy Value”: Why AT&T Is Using a Reverse Morris Trust in the WarnerMedia-Discovery Deal

BusinessAT&T, Business, ReverseMorrisTrust, WarnerMedia-Discovery

BY GEORG SZALAI | HollywoodReporter.Com Troy Warren for CNT #Business As AT&T plans to spin off WarnerMedia to then merge it with Discovery, it's turning to a deal structure that's been used just a handful of times in the media industry. “Iconic brands and franchises,” “complementary assets,” “one of the largest global streaming players.” The buzzy phrases offered up to tout the megamerger of Discovery and AT&T’s WarnerMedia when the companies unveiled it on May 17 just rolled off the tongue. The same can’t quite be said about the type of deal the partners agreed on to pull off the marriage:…

Latest News