The Walt Disney Company is implementing another round of job cuts affecting several hundred employees globally, as part of continued efforts to streamline operations and adapt to a shifting entertainment landscape. This latest round will impact roles across multiple departments, including film and television marketing, content development, casting, and corporate finance. While the company did…
A former Disney worker has been sentenced to three years in federal prison for hacking into the company’s internal systems and tampering with restaurant menus in ways that could have endangered guests’ health and safety. Michael Scheuer, a former menu production manager at Disney, pleaded guilty to charges of computer fraud and aggravated identity theft….
Disney has agreed to a $43 million settlement in response to allegations that it paid female employees less than their male counterparts in comparable roles over nearly a decade. The lawsuit, initiated in 2019 by former employee LaRonda Rasmussen, claimed that she discovered six male colleagues with identical job titles earned significantly more than she…
A former Disney employee allegedly hacked the company’s internal systems to alter restaurant menus, including falsifying allergen details and adding offensive language, according to a federal complaint filed in Florida. The complaint, submitted to the U.S. District Court for the Middle District of Florida on October 23, does not explicitly name Disney. However, David Haas,…
Disney and DirecTV have resolved their brief but contentious distribution dispute, restoring access to Disney-owned channels such as ABC, ESPN, and FX for DirecTV’s more than 11 million subscribers. The agreement, finalized on Saturday, brings an end to a blackout that began on September 1, during which viewers were unable to watch popular programs including…
As the ongoing battle between DirecTV and Disney threatens to black out ESPN and ABC channels, including tonight’s “Monday Night Football,” DirecTV has taken an unexpected step: paying its customers to subscribe to rival services. In response to the escalating conflict, DirecTV has partnered with competitors Sling and Fubo, offering affected customers credits and discounts…
Disney has pulled its popular channels, including ABC, ESPN, and several others, from DirecTV after the two companies failed to renew their distribution agreement. The blackout, which affects over 11 million satellite subscribers, comes at a critical time as the college football season begins, the US Open tennis tournament enters its final week, and just…
India’s competition watchdog has given provisional approval to an $8.5 billion (£6.43 billion) merger between Disney and Reliance Industries, setting the stage for the creation of India’s largest entertainment conglomerate. The merger, in which Mukesh Ambani’s Reliance Industries will hold a majority stake, is poised to reshape the nation’s entertainment landscape, putting the new entity…
A federal judge has temporarily blocked the launch of Venu Sports, a highly anticipated sports streaming venture backed by Disney, Fox, and Warner Bros. Discovery. The decision, handed down on Friday, deals a significant setback to the media giants just weeks before the start of the NFL season. The ruling came in response to a…
Disney has unveiled ambitious new projects for its parks and cruises, capturing the attention of its most dedicated fans. During a recent event, the company presented a slew of upcoming attractions, promising an enhanced experience that will likely draw visitors back to the “Happiest Place on Earth.” However, the excitement comes amid growing concerns about…
Walt Disney Parks and Resorts is pushing to have a wrongful death lawsuit dismissed, arguing that the case should be resolved through arbitration due to the plaintiff’s previous use of Disney+ and online ticket purchases. Jeffrey Piccolo has filed a $50,000 wrongful death claim against Disney following the death of his wife, Kanokporn Tangsuan. The…
BURBANK, CA – Warner Bros. Discovery and Disney have launched a new streaming bundle combining Disney+, Hulu, and Max at a significant discount. This collaboration aims to strengthen their positions in the competitive streaming market. The bundle, available to new and returning subscribers, offers a choice of $16.99 per month with ads or $29.99 per…
An activist hacking group, Nullbulge, has claimed responsibility for leaking around 1.2 terabytes of Disney’s internal Slack messages, including details on unreleased projects, raw images, computer codes, and some logins. The breach, allegedly facilitated by a person with Slack access, raises significant concerns over cybersecurity and AI’s impact on artists. The group, said to be…
In a strategic move to stay competitive in the streaming market, Walt Disney and Warner Bros Discovery have announced plans to offer a bundled package of their streaming services, including Disney+, Hulu, and Max, to customers in the United States starting this summer. The new package will grant customers access to all three streaming platforms,…
In a significant win for Disney and CEO Bob Iger, the entertainment giant emerged victorious in a hard-fought proxy battle against activist investors aiming to secure seats on the company’s board of directors. The shareholder vote at the annual meeting marked a legacy-defining moment for Iger. Disney’s board clinched victory by a substantial margin over…
Former Disney Channel actress Bridgit Mendler, best known for her roles in “Good Luck Charlie” and “Wizards of Waverly Place,” has embarked on a new journey as the co-founder and CEO of Northwood Space, a startup that has secured over $6.3 million in funding, including contributions from notable investors like Peter Thiel’s Founders Fund and…
Bob Iger, the Chief Executive Officer of Disney, saw a substantial increase in his compensation, totalling $31.6 million for the year 2023, marking a significant boost from his earnings in the preceding year. The breakdown of Iger’s 2023 pay package, as outlined in The Walt Disney Company’s annual proxy statement filed on Tuesday, includes a…
As the New Year approaches, a significant milestone is on the horizon for Disney enthusiasts and copyright aficionados alike. On January 1, 2024, an early iteration of Disney’s beloved character, Mickey Mouse, is poised to enter the public domain, marking a historic moment in the realm of intellectual property. The copyright expiration centers around Disney’s…
The enchantment of Disney has faced challenges this year, casting shadows on the entertainment giant’s path. Having recently celebrated its centennial, Disney, over the last hundred years, has transformed into one of the world’s largest publicly traded media and entertainment companies, boasting a market cap exceeding $150 billion. Despite these monumental achievements, the House of…
Disney has revealed its plans to acquire Comcast’s one-third ownership in Hulu for an estimated $8.61 billion. The acquisition aims to place the streaming platform completely under Disney’s ownership when the transaction concludes later this year. In a brief statement, the company expressed that securing Comcast’s stake in Hulu at fair market value would significantly…
The board of The Walt Disney Company has unanimously voted to extend CEO Bob Iger’s contract by two years, until the end of 2026. When Iger returned to the CEO position in 2022, he had initially planned to stay for two years while a replacement was sought. In a statement, Iger acknowledged the challenging decisions…
Disney’s Chief Financial Officer (CFO), Christine McCarthy has stepped down from her position and taking a family medical leave of absence. Effective July 1, Kevin Lansberry, currently the CFO of Parks, Experiences, and Products, will assume the role of interim CFO. Disney CEO Bob Iger expressed high regard for McCarthy, stating, “Christine McCarthy is one…
Disney’s clash with Florida’s Republican governor and potential presidential candidate, Ron DeSantis, is captivating attention like a reality TV show. While Disney’s strategic maneuvers, including the recent abandonment of a $1 billion office project near Orlando, have dominated headlines, they overshadow the company’s actual struggle in business. In the ongoing back-and-forth with DeSantis, Disney delivered…
Disney has escalated its conflict with Florida’s Republican Governor Ron DeSantis, resulting in the state losing 2,000 white-collar jobs. Disney has canceled its $1 billion office complex project in Florida, citing changing business conditions. The decision comes amid an open feud between Disney and DeSantis, who is expected to enter the 2024 GOP presidential race…
Disney has reported a loss of 4 million subscribers to its flagship streaming service in the first quarter of the year. Despite the decline in subscribers, Disney+ was able to reduce its losses by $400m. The company behind the Marvel and Star Wars franchises is under pressure to make its streaming business profitable amid a…
Scarlett Johansson, who sued Disney in 2021 for breach of contract, is still a dedicated Disney fan. She described her level of devotion to Disney in a recent interview with Variety. The Black Widow star revealed that she visits Disney World at least ten times a year and is someone who “geeks out” when talking…
Disney is laying off several thousand workers across the company this week in the second and largest wave of cuts as part of the media giant’s previously announced plan to slash its workforce by 7,000 employees. As reported on CNN, the latest round of job cuts will impact ESPN, Disney’s entertainment division, Disney Parks, and…
The Walt Disney Company has settled with former Marvel Studios VFX chief Victoria Alonso after pink-slipping her last month. While details between Alonso and Disney are confidential, there was a multimillion-dollar financial compensation, we hear. The deal between the parties was reached in the past few days. Alonso was represented by Glaser Weil Fink Howard…
While Disney may be the happiest place on earth in the hearts and minds of many people, the business itself is not having such a happy week. As reported on THE STREET, CEO Bob Iger sent an email to employees on March 27 to let them know that the planned layoffs (previously announced in February)…
Florida Governor Ron DeSantis warned people to “buckle up” as he signed a bill giving the state control over Disney’s sprawling Orlando theme parks. As reported on BBC, the bill strips power uniquely held by Disney for over 50 years and enables more oversight by Mr DeSantis’ Republican-led legislature. The move is seen as retaliation…
An episode of “The Simpsons” that includes a line about “forced labor camps” in mainland China has been pulled from Disney’s streaming platform in Hong Kong. As reported on CNN, a scene in the second episode of its latest season depicts the show’s matriarch, Marge Simpson, cycling on an indoor spin bike with an on-screen…
Less than 24 hours after his shock return as Disney’s chief executive, Bob Iger says he is planning a major shake-up of the business. As reported by the BBC, one of his first moves has resulted in the exit of the head of company’s Media and Entertainment Distribution division, Kareem Daniel. Mr Daniel was a…
Disney’s streaming business has continued to grow – but its losses are rising too. As reported by the BBC, the media giant said it had added more than 12 million subscribers to its Disney+ streaming platform in the three months ended in September. But the unit lost nearly $1.5bn – a hit that weighed on…
Disney will launch a new ad-supported streaming service in the US in December, as it overtakes Netflix in the race for paid subscribers. As reported by BBC, the firm reported 221.1 million subscribers across its three streaming platforms at the start of July. That put it just ahead of Netflix, which has been losing customers….
