Blu-ray may soon no longer exist
Recently, Sony announced that it would discontinue production of all types of recordable optical media, particularly Blu-ray. This will lead to the cutting of 250 jobs in the related division…
Netflix teams up with CBS Sports to produce Christmas Day NFL games
By Juby Babu (Reuters) – Paramount Global owned CBS Sports will produce the two National Football League (NFL) games set to be aired on Netflix on Christmas Day this year,…
Walt Disney warns theme park revenue to fall, profit slips
By Dawn Chmielewski and Lisa Richwine LOS ANGELES (Reuters) – Walt Disney predicted a ‘moderation in demand’ at its theme park business in coming quarters, overshadowing the success of the…
Warner Bros Discovery writes down TV assets by $9 billion amid uncertainty over fees, sports rights renewals
By Harshita Mary Varghese and Akash Sriram (Reuters) – Warner Bros Discovery said on Wednesday it wrote down the value of its TV assets due to the uncertainty of fees…
Airbnb forecasts lower third-quarter revenue as economic worries slow demand
By Aishwarya Jain and Doyinsola Oladipo (Reuters) -Airbnb forecast third-quarter revenue below estimates on Tuesday and warned of shorter booking windows, suggesting travelers were waiting until the last minute to…
Tinder parent Match to cut 6% jobs as activist investors seek changes
By Jaspreet Singh (Reuters) – Match Group will let go about 6% of its staff as part of plans to discontinue live-streaming services on its dating apps, the Tinder parent…
Spain’s antitrust watchdog opens investigation into Apple’s app store
By Inti Landauro MADRID (Reuters) – Spain’s antitrust regulator said on Wednesday it had opened an investigation into possible anti-competitive behaviour by Apple’s App Store, an allegation the tech giant…
NBA signs broadcasting deal with Disney, Amazon, Comcast worth $77 billion
By Harshita Mary Varghese and Akash Sriram (Reuters) – Walt Disney’s ESPN, Comcast-owned NBCUniversal and Amazon.com have clinched the rights to carry National Basketball Association games in an 11-year deal…
Meta in talks to buy 5% stake in Ray-Ban maker EssilorLuxottica
By Yuvraj Malik and Aditya Soni (Reuters) – Meta Platforms is in talks to acquire a stake of about 5% in EssilorLuxottica, its production partner for Ray-Ban smart glasses, the…
Netflix beats subscriber targets, cautions on ad growth
By Dawn Chmielewski and Lisa Richwine (Reuters) – Netflix said on Thursday it added more than 8 million subscribers in its second quarter as the streaming service benefited from a…