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Disney shares stumble as expectations outpace reality

For Walt Disney’s Peter Pan, flying was “all a matter of faith and trust.” Investors in Walt Disney Co showed a lack of both in the company’s stock on Wednesday. Disney’s shares fell 4.5 percent to $101.76 in morning trading and were the biggest drag on the Do... More »

Viacom board weighs further cuts in Redstone’s pay: WSJ

Viacom Inc’s board is considering whether to further cut the pay of its Chairman Emeritus Sumner Redstone, the Wall Street Journal reported, citing people familiar with the matter. Viacom and CBS Corp board members are also planning to visit Redstone, the chai... More »

Disney expands search for new CEO, COO Staggs leaving

LOS ANGELES Tom Staggs, the veteran Walt Disney Co executive who had been widely seen as the media company’s next CEO, will step down on May 6 as the board expands its search for a successor to Bob Iger, Disney said on Monday. The unexpected move came little m... More »

Chipotle Massachusetts outlet shut after workers fall ill

Chipotle Mexican Grill Inc (CMG.N), which is trying to recover from a series of food-borne illness outbreaks, temporarily shut a Massachusetts restaurant after four employees fell sick. The restaurant in the town of Billerica, outside Boston, was closed for a ... More »

Chris Rock transforms Oscars into biting racial commentary

LOS ANGELES Comedian Chris Rock launched his return stint as Oscar host on Sunday by immediately and unabashedly confronting the racially charged elephant in the room – the furor over the all-white field of performers nominated for Hollywood’s highest honors. ... More »

Upstart producer Open Road takes Oscar’s top gold

LOS ANGELES Open Road Films, a small movie producer founded by two theater chains just five years ago, upstaged Hollywood’s big studios on Sunday by winning the coveted best picture award and a likely sales boost for its Catholic Church scandal drama “Spotligh... More »

ESPN, Verizon say progress made in Custom TV legal fight

Walt Disney Co’s ESPN sports network and Verizon Communications Inc have made progress in their talks to settle a legal dispute over a TV package that lets customers choose bundles of channels, according to a court filing on Wednesday. The companies asked New ... More »

Box Office:‘Kung Fu Panda 3’ trumps ‘Hail, Caesar!

LOS ANGELES (Variety.com) – Hollywood fumbled the ball during a quiet Super Bowl weekend at the multiplexes as new releases such as “Hail, Caesar!” and “Pride and Prejudice and Zombies” failed to make much noise. For the second weekend in a row, DreamWorks Ani... More »

Travel industry faces growing concern over Zika virus

Airlines, hotels and cruise operators serving Latin America and the Caribbean are facing growing concern among travelers spooked by the mosquito-borne Zika virus. The outbreak of the virus, linked to brain damage in thousands of babies in Brazil, comes as a re... More »

Hollywood studios, Sky spar with EU antitrust regulators

BRUSSELS – NBCUniversal, Disney and four other U.S. studios together with Sky UK on Monday rebuffed European Union charges of anti-competitive movie-licensing deals in a crucial hearing ahead of a decision later this year. The companies’ defense at a three-day... More »

Disney shares fall after BTIG cuts to ‘sell’ on ESPN woes

Walt Disney Co’s shares slumped after BTIG analyst Richard Greenfield cuts his rating to “sell” from “neutral”, saying the likely success of the latest Star Wars movie would not be enough to offset the impact of subscriber losses at ESPN. Disney’ shares fell a... More »

Praise galore for ‘Star Wars: The Force Awakens’

NEW YORK The verdict is nearly unanimous: The Force is strong with this one. “Star Wars: The Force Awakens” won rave reviews on Wednesday with critics saying it has breathed new life into the almost 40 year-old franchise that has spawned three original movies ... More »

Sirius XM signs new five-year deal with Howard Stern

Satellite radio company Sirius XM Holdings Inc and “shock jock” Howard Stern have renewed their five-year deal for his popular “Howard Stern Show,” ending the uncertainty around the fate of the decade-long association. The news comes after years of Sirius, maj... More »

Media stocks dip as Disney reveals subscriber losses at ESPN

U.S. media stocks fell on Friday after Walt Disney Co’s disclosure of a drop in subscribers at ESPN spooked investors, underscoring concerns that viewers are increasingly opting for online streaming over pay TV. Disney’s shares were down 3.6 percent at $114.44... More »

Rome banishes centurion impersonators ahead of Holy Year

ROME Rome has banned centurion impersonators who charge to scowl in photos around the ancient Colosseum amphitheatre and frequently come under fire for their pushy tactics with tourists. The Italian capital is imposing extra security measures and sprucing up p... More »

‘Spectre’ tops ‘The Peanuts Movie’ with $73 million

LOS ANGELES, (Variety.com) – James Bond and Charlie Brown brought the box office roaring back to life, as “Spectre” and “The Peanuts Movie” attracted big crowds over their opening weekends. “Spectre,” the latest 007 adventure, took first place, debuting to $73... More »

Disney’s ESPN withdraws content from YouTube

Walt Disney Co’s sports network ESPN said it will not make its content available on YouTube, due to the recently announced ad-free subscription-based offering coined YouTube Red. Alphabet Inc’s YouTube said on Wednesday it will launch YouTube Red, a $10-a-mont... More »

Vivendi raises stakes in French video games companies

PARIS Vivendi raised its stakes in French video games makers Ubisoft and Gameloft and indicated that it may buy additional shares later and seek board seats. Vivendi sold off its video games business Activision Blizzard in 2013 in the opening salvo of an asset... More »

Wynn Resorts, WalMart: One coin in the world economy

Big fish Chinese gamblers afraid of a corruption crackdown and poorly paid Walmart workers in the United States might seem to have little in common. But in the global economy, they are in some ways two sides of the same coin, and to understand that is to under... More »

‘The Martian’ triumphs with $55 million debut

LOS ANGELES (Variety.com) – “The Martian” blasted off with a massive $55 million this weekend, nearly surpassing another space-based adventure, “Gravity,” as the highest-grossing October debut in history. The Ridley Scott release was bolstered by rapturous rev... More »

HBO towers over streaming upstarts at TV’s Emmys

LOS ANGELES Premium cable network HBO dominated television’s Emmy awards on Sunday with trophies for best comedy “Veep” and best drama “Game of Thrones,” holding off challenges from the digital upstarts that have shaken up traditional Hollywood. HBO, owned by ... More »

Upstarts challenge old favorites at TV’s Emmy Awards

LOS ANGELES New faces and bold story-telling challenge old favorites on television’s biggest night on Sunday as the stars and creators of scores of comedies, dramas and variety shows gather in Los Angeles for the 67th Primetime Emmy Awards. Hosted by former “S... More »

Disney hires digital, consumer executives for new TV roles

The Walt Disney Co on Tuesday named two executives to newly created positions in its Disney/ABC Television Group to focus on digital media and consumer experience at a time when TV viewing habits are rapidly changing. Cindy Davis, most recently head of global ... More »

Disney warning eclipses AMC Networks’ sales rise

AMC Networks Inc’s (AMCX.O) shares fell as much as 14 percent despite the company’s strong results, continuing a slide triggered by Walt Disney Co’s (DIS.N) forecast that suggested that more customers were deserting paid TV than expected. Walt Disney Co (DIS.N... More »

New York Times revenue misses as print ad sales fall again

New York Times Co reported lower-than-expected quarterly revenue as its print advertising sales fell for the fourth straight quarter. Shares of the company, which also forecast a decline in its current-quarter ad revenue, fell as much as 6 percent on Thursday.... More »

Box Office: ‘Minions’ Dominates With $115.2 million Debut

LOS ANGELES, (Variety.com) – “Minions” ruled the weekend box office, racking up a massive $115.2 million in North America, for the second biggest animated film opening in history. The Universal and Illumination Entertainment spin-off to “Despicable Me” just mi... More »

Disney seeks continued tax exemption from Anaheim, California

LOS ANGELES The “happiest place on Earth” will keep a special tax exemption in Anaheim, California, for 30 more years if the City Council approves the Walt Disney Co’s plan for a $1 billion-plus expansion of its theme park complex in the city. The five-member ... More »

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Apps link people with new places in real world

A woman walks past icons for Apple applications at the company’s retail store in San Francisco, California April 22, 2009. REUTERS/Robert Galbraith Tired of the same restaurants and clubs? Not sure if friends would want to venture to a new cafe or bar? New app... More »