Global News

[ad_1] SAN FRANCISCO: 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 be concluded by December 1. The California-based entertainment giant already sells Hulu as part of bundled offerings with its Disney+ and ESPN+ platforms. The company will release its latest quarterly earnings next week, providing a look at how its cable and streaming television services are doing in the fiercely competitive market. Disney in August reported that Disney+ lost more than 10 million subscribers in the recently ended quarter, in large part due to the Indian market. Disney+ finished the second three m...

[ad_1] Disney World's crowds are getting smaller, signaling that the high entry costs to the theme park as well as competition from other destinations may be taking a toll on attendance, Wall Street Journal reporter Jacob Passy told CBS News.  "We specifically looked at July 4, which over history has always been a fairly peak day for the parks," Passy said, noting that he looked at data from a company called Touring Plans, which tracks wait times at top amusement parks. "The wait times were significantly lower this year than in previous years." Touring Plans' data showed that July 4 was the third-slowest day in the past year at Disney's Hollywood Studios theme park in Florida. Meanwhile, wait times at Disney's Magic Kingdom in the state were an average of 27 minutes on July 4, down from 47 minutes in 2019, according to the Wall Street Journal. The entertainment giant may be battling a few issues, inc...

[ad_1] Media mogul Byron Allen has offered $10 billion to the Walt Disney Co. to purchase its ABC television network, in addition to the cable networks FX and National Geographic. The bid, which Allen's representative confirmed to CBS MoneyWatch, would include ABC's national TV network as well as several regional stations. The offer is "preliminary" and "could change" at any time, a source with knowledge of the matter told Bloomberg .  The $10 billion figure is based on an estimation that the networks accrued $1.25 billion in earnings before interest, taxes, depreciation and amortization within the past year, the publication reported.    Disney CEO Bob Iger signaled in July that Disney was open to selling some of its television assets as consumers continue to flock to streaming networks, eclipsing traditional television and cable. Since then, the company has been in talks with potential buyers inclu...

[ad_1] In his latest update since his snowplow accident on New Year's Day, actor Jeremy Renner shared a behind-the-scenes photo from his upcoming Disney+ series and thanked fans for being patient while he was "in the shop now, working on me." The Valentine's Day post on Instagram gave Renner's followers an inside look at the set of "Rennervations" — a four-part series in which Renner helps global communities with "reimagining unique purpose-built vehicles" to fit their needs, according to Deadline. In his post, Renner thanked fans and said his new show is "cueing up now" on Disney's platforms. This is not the first time Renner has given audiences a preview of his new show. Last week, he posted a photo from a "Rennervations" shoot, writing in the caption, "As soon as I'm back on my feet, we are coming to YOU, all across the globe....

[ad_1] Disney World's crowds are getting smaller, signaling that the high entry costs to the theme park as well as competition from other destinations may be taking a toll on attendance, Wall Street Journal reporter Jacob Passy told CBS News.  "We specifically looked at July 4, which over history has always been a fairly peak day for the parks," Passy said, noting that he looked at data from a company called Touring Plans, which tracks wait times at top amusement parks. "The wait times were significantly lower this year than in previous years." Touring Plans' data showed that July 4 was the third-slowest day in the past year at Disney's Hollywood Studios theme park in Florida. Meanwhile, wait times at Disney's Magic Kingdom in the state were an average of 27 minutes on July 4, down from 47 minutes in 2019, according to the Wall Street Journal. The entertainment giant may be battling a few issues, inc...

[ad_1] ESPN is cutting about 20 employees, including well-known network personalities such as former NBA coach Jeff Van Gundy and former player Jalen Rose. The sports network on Friday confirmed that it is cutting employees, but didn't specify the number of layoffs or the staffers who are losing their jobs. The cuts include include commentator Max Kellerman, Monday Night Football host Suzy Kolber and Keyshawn Johnson, a former NFL player turned analyst for the network, a source familiar with the details told CBS MoneyWatch. The move is part of a larger effort at ESPN to save millions of dollars and meet financial goals executives set for this year.  "Given the current environment, ESPN has determined it necessary to identify some additional cost savings in the area of public-facing commentator salaries, and that process has begun," the network said in a  statement  Friday.  Kolber confirmed her departure from ESPN Friday o...