Media, Arts and Entertainment

Mixed Wireless Recovery at AT&T, Verizon, T-Mobile: Jeff Kagan

Jeff Kagan | |

AT&T, Verizon and T-Mobile shared their progress in their recent earnings calls. Their results are mixed. Wireless, 5G, telecom, broadband and data networks are poised for continued growth. However...

Australia High Court Rules Media Companies Liable for Third Party Comments on Their Facebook Pages

AP News | |

Australia’s highest court on Wednesday made a landmark ruling that media outlets are “publishers” of allegedly defamatory comments posted by third parties on their official Facebook pages.

The High Court dismissed an argument by some of Australia’s largest media organizations — Fairfax Media Publications, Nationwide News and Australian News Channel — that for people to be publishers, they must be aware of the defamatory content and intend to convey it.

Record Labor Day Crowds Fill Movie Theaters, Boosting Box Office Turnaround Hopes

Kimberly Redmond | |

A record number of moviegoers went to the theaters over Labor Day weekend, giving big chains like AMC Entertainment Holdings Inc (NYSE: AMC) and Cinemark Holdings Inc (NYSE: CNK) hope of a turnaround at the box office after weathering widespread cinema closures during the pandemic.

On Tuesday, AMC said more than 2 million people watched a movie at one of its more than 380 US locations between Sept. 2 and Sept. 5, beating out its previous Labor Day revenue record in 2013.

Disney Beats Fiscal Q3 Estimates, Shares Up 5.5% in After Hours Trading Thursday

Reuters | |

Walt Disney Co earnings on Thursday topped Wall Street forecasts for the most recent quarter as its streaming services picked up more customers than expected and pandemic-hit U.S. theme parks returned to profitability.

Shares of the entertainment company rose 5% in after-hours trading. Before the earnings report, shares were roughly flat from the start of the year.

Cineworld Considering US Stock Listing To 'Maximize Shareholder Value'

Kimberly Redmond | |

Cineworld Group is eyeing a US listing to tap investors in the movie theater operator’s largest market as part of an effort to shore up its pandemic-strained finances.

On Thursday, London-listed Cineworld said it was considering a plan to list its shares on Wall Street or to do a partial US listing of its Regal Entertainment Group unit.

ATT's WarnerMedia in Discussions To Sell TMZ to Fox Corp

Kimberly Redmond | |

AT&T Inc (NYSE: T) is reportedly closing in on a deal to sell WarnerMedia’s tabloid entertainment company TMZ to Fox Corporation (Nasdaq: FOXA).

According to The Wall Street Journal, AT&T and Fox have had on-again, off-again, talks for over a year regarding TMZ and co-founder Harry Levin’s concerns over how much editorial control he would have at Fox.

AMC Entertainment To Accept Bitcoin as Payment by Year End

Kimberly Redmond | |

AMC Entertainment Holdings announced Monday it will soon have the technology in place at all US theaters to enable customers to buy movie tickets or concessions online using bitcoin.

During the company's second quarter earnings call, AMC’s chief executive officer Adam Aron said the chain will also offer support for Google Pay and Apple Pay at its theaters by the end of 2021.

Scarlett Johansson Sues Disney Over 'Black Widow' Streaming Release

Reuters | |

Scarlett Johansson, star of the Marvel superhero movie "Black Widow," sued the Walt Disney Co on Thursday, alleging that the company breached her contract when it offered the movie on streaming at the same time it played in theaters.

Disney said there was "no merit" to the lawsuit, saying it had complied with her contract. It added in a statement that the release of the movie on its streaming platform had "significantly enhanced her [Johansson's] ability to earn additional compensation on top of the $20 million she has received to date.”

AMC Entertainment Soars 36% to Four-Year High as Bears Get Squeezed

Reuters | |

Shares of AMC Entertainment soared on Thursday, notching a 35% one-day gain in a rally that burned bearish investors and sparked jubilation among the stock's online supporters.

The movie theater chain’s market value ended the session at $11.9 billion as its shares closed at $26.52, with the highest trading volume of any stock on U.S. exchanges on the day. The shares are now up 1,150% year-to-date after hitting their highest level in four years.

Amazon To Acquire MGM Holdings for $8.45 Billion

Kimberly Redmond | | Inc (Nasdaq: AMZN) said Wednesday it has reached a deal to buy privately held MGM Holdings, the parent company of Metro-Goldwyn-Mater Studios, for $8.45 billion.

In a statement announcing the acquisition, the e-commerce giant said it hopes to leverage MGM’s storied filmmaking history and vast catalog of 4,000 movies and 17,000 television shows to help boost Amazon Studios.

Sponsored Financial Content

Market Movers