Business

Netflix Increases Subscription Price in U.S. and Canada

Netflix Increases Subscription Price in U.S. and Canada

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

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

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

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

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…
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WarnerMedia, Comcast Strike New Cable Carriage Deal

WarnerMedia, Comcast Strike New Cable Carriage Deal

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

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

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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Roku Platform Chief Scott Rosenberg Stepping Down

Roku Platform Chief Scott Rosenberg Stepping Down

BY  ALEX WEPRIN | HollywoodReporter.Com Troy Warren for CNT #Business Roku CEO Anthony Wood said Rosenberg was "ready for his next professional challenge." The head of Roku’s lucrative platform business, Scott Rosenberg, will step down later this spring, the company said Friday. In a statement, the company suggested that Rosenberg was leaving for another opportunity. “While Scott remains deeply invested in the company’s success, he’s ready for his next professional challenge and believes this is the right timeframe for him to make a change. I respect and fully support his decision,” said Roku CEO Anthony Wood in a statement. “I look…
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ViacomCBS and WarnerMedia Exploring Sale of The CW

ViacomCBS and WarnerMedia Exploring Sale of The CW

BY LESLEY GOLDBERG, ALEX WEPRIN | HollywoodReporter.Com Troy Warren for CNT #Business Local TV giant Nexstar is said to be among the suitors for the broadcast network. The CW is up for sale. The broadcast network, home to shows like Batwoman and Walker, is being shopped by its corporate owners, ViacomCBS and WarnerMedia, multiple sources confirm to The Hollywood Reporter. The Wall Street Journal, which first reported the news, says that the local TV giant Nexstar is among the potential suitors. Nexstar, which owns 199 local TV stations as well as the cable channel NewsNation and The Hill, is one of the largest owners of The CW stations. It isn’t immediately clear whether ViacomCBS…
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“It’s a Leaner, Meaner Business”: Hollywood Braces for Volatile 2022 Box Office

“It’s a Leaner, Meaner Business”: Hollywood Braces for Volatile 2022 Box Office

BY PAMELA MCCLINTOCK | HollywoodReporter.Com Troy Warren for CNT #Entertainment  #Business A full recovery will have to wait, and studios are now adjusting their expectations: "The bar for what type of movie is worth it in theaters has grown higher." Hollywood studio executives breathed a sigh of relief in October and November when overall moviegoing comfort levels hit an average 76 percent, the best of the COVID-19 era. While consumers ages 35 and older still were more nervous than their younger counterparts, progress was being made. Yet those comfort levels plummeted 10 points to 66 percent by Christmas — the lowest…
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OpenSea Valued at $13.3 Billion as Ethereum NFT Market Booms Again

OpenSea Valued at $13.3 Billion as Ethereum NFT Market Booms Again

By Jeff Benson | Decrypt.Co Troy Warren for CNT #NFT  #Business OpenSea had its second-best month for Ethereum NFT volume in December, so it's no surprise that VCs want in. In brief The Series C funding round was led by Paradigm and Coatue.  OpenSea raised $100 million in a Series B round in July 2021. The leading NFT marketplace OpenSea announced Tuesday it has raised $300 million in a Series C funding round and is now valued at $13.3 billion. The round was led by venture capital firms Paradigmand Coatue. KRH, the current holding name for the new fund from former Andreessen Horowitz general partner…
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Airline Cancellations Continue to Rise, but So Do Number of Fliers and Stock Prices

Airline Cancellations Continue to Rise, but So Do Number of Fliers and Stock Prices

RICH THOMASELLI  | TravelPulse.Com Troy Warren for CNT #Travel  #Business   Sunday, January 2, was set to be a critical day for the airlines, a litmus test of sorts to gauge how busy the last day of the Christmas/New Year’s holiday season would be and whether there was any end in sight to the unprecedented delays and cancellations plaguing the industry. This morning, we got our answers. The Omicron- and weather-related issues persist worldwide, but fliers are still flying and airline stock prices went up in early trading on Monday, according to CNBC.   Another 2,100 flights were canceled as of…
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