Tag: Disney

Reliance, Disney announce giant India media merger

MUMBAI, Feb 29, 2024 (AFP) – India’s Reliance Industries and Walt Disney have agreed to merge their Indian media businesses, creating a $8.5 billion entertainment giant in the world’s most populous nation. India’s entertainment market is already one of the world’s biggest, with the merger expected to further shake up the multi-billion-dollar industry. The two companies had signed “binding definitive agreements” to form a joint venture that will combine the businesses of Reliance-backed Viacom18 and […]

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Disney beats forecasts as streaming struggles improve

By Glenn CHAPMAN Disney on Wednesday reported higher than expected profit in the final three months of last year as it strives to adapt to a shift from television to streaming. During the earnings announcement, Disney chief Robert Iger also revealed that the entertainment giant is acquiring a “small equity stake” in Fortnite-maker Epic Games, and will release a sequel to its high-grossing animated film “Moana”. Iger also boasted that Disney+ streaming service will be […]

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Mickey Mouse horror films announced as Disney copyright expires

Oh boy! Barely 24 hours after Disney’s initial copyright on Mickey Mouse expired, two new indie horror films starring the beloved character have been announced. “Steamboat Willie,” the first Disney movie to feature Mickey, entered the public domain under US law on Monday, 95 years on from its initial release. That means anyone is now free to copy, share, reuse and adapt the primitive, early versions of the characters that appear within the film, including […]

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Legal battles loom as first Mickey Mouse copyright ends

By Andrew MARSZAL LOS ANGELES, Dec 29, 2023 (AFP) – Almost a century after his big-screen debut, Mickey Mouse enters the public domain Monday, opening the floodgates to potential remakes, spin-offs, adaptations… and legal battles with Disney. The copyright on “Steamboat Willie” — a short, black-and-white 1928 animation that first introduced audiences to the mischievous rodent who would become emblematic of American pop culture — expires after 95 years, on January 1, under US law. […]

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Disney+ adds subscribers amid cost-cutting campaign

By Julie JAMMOT SAN FRANCISCO, Nov 8, 2023 (AFP) – Disney’s streaming service has attracted nearly seven million new subscribers, the company said Wednesday, reversing a period of decline that had raised doubts about its rivalry with industry leader Netflix. Disney has been under significant pressure ever since CEO Bob Iger left the company only to be brought out of semi-retirement a year ago after his replacement no longer had the confidence of executives and […]

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Disney completes Hulu takeover with $8.6 billion deal

SAN FRANCISCO, Nov 1, 2023 (AFP) – The Walt Disney Company on Wednesday announced it will buy Comcast’s $8.6 billion stake in Hulu, completing its takeover of the streaming service. The acquisition will “further Disney’s streaming objectives,” the company said in a press release, and comes as it strives to boost subscriber numbers at its Disney+ streaming service. The deal values Hulu at $27.5 billion in total, according to Disney, which said the transaction will […]

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Black bear captured after shutting down Disney World rides

MIAMI, Sept 18, 2023 (AFP) – An apparently hungry black bear forced a brief shutdown of some attractions at Disney World’s Magic Kingdom in Florida until it was captured, officials said. Local television station Fox 35 said more than a dozen popular rides at the Orlando theme park were closed after the bear was sighted in a tree, including the “Haunted Mansion” and “Pirates of the Caribbean.” “During the fall, bears are more active as […]

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Disney lays off 7,000 as streaming subscribers decline

SAN FRANCISCO, United States (AFP) — Entertainment giant Disney said Wednesday it was laying off 7,000 employees, in CEO Bob Iger’s first major decision since he was asked back to lead the company late last year. The layoffs follow similar moves by the US tech giants that have laid off thousands of workers as the economy sours and companies dial back a hiring spurt that began during the height of the pandemic. “I do not […]

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‘Avatar’ sequel now ranks fourth all-time in global sales

LOS ANGELES, United States (AFP) – “Avatar: The Way of Water” continued to dominate the box-office charts, taking in an estimated $15.7 million this weekend in North American theaters to make it the fourth-leading global grosser of all time. The Disney/20thCentury sci-fi film, directed by James Cameron, “has been #1 for 7 straight weeks… a feat that hasn’t been accomplished” since Cameron issued the original “Avatar” in 2009, industry watcher Exhibitor Relations said on Twitter. Hefty […]

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Disney seeks old magic in return of ex-CEO

NEW YORK, United States (AFP) – In a dramatic twist worthy of a “Star Wars” spin-off, Disney ditched CEO Bob Chapek and brought back Bob Iger, Hollywood’s most respected executive, who faces a huge challenge to revive the Magic Kingdom. Iger’s return comes as Disney is trying to negotiate an uncertain era, where investors have lost faith in some of the most storied names in US media as companies bleed cash in the hunt for customers […]

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Netflix and Disney poised to shake up TV ad world

New York, United States (AFP) – With the launch of cheaper, ad-supported subscriptions, Netflix and Disney+ are expected to bite into the revenue of traditional television channels as the streaming services look toward continued expansion. After having long-shunned the notion of advertising on its platform, Netflix thisyear accelerated work on just such an offering as inflation prompts consumers to spend less and competition in the streaming television market intensifies. Netflix is expected to launch an […]

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Florida governor signs law revoking Disney’s special status

  MIAMI, United States (AFP) — Florida governor Ron DeSantis on Friday signed a law that eliminates a statute that has for decades allowed entertainment giant Disney to act as a local government in Orlando, where it has its theme park. The move was the latest episode in a dispute between DeSantis’ Republican administration and Disney, after the company criticized the passage in March of a law banning school lessons on sexual orientation. There was […]

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