The first episode of the Streaming Wars is over. The rebels won. Now the empire strikes back.
Disney also acquires a majority stake in the TV product Hulu, which it may use to kickstart its entry into the streaming wars.
These additions would enrich an overflowing treasury at Disney, whose assets includes Star Wars, Marvel, Pixar, ABC, ESPN, the world’s most popular amusement parks, and, of course, its classic animated-film division
.. The deal allows Rupert Murdoch, the billionaire patriarch behind 21st Century Fox, to consolidate his own kingdom—and his legacy—around the very place where he got his start: news.
.. Streaming video has conquered pay TV and created a generation of cord-cutters; the youngest Millennials (those in their late teens and early 20s) watch 50 percent less traditional television .. than people that age did in 2010.
.. For media and entertainment companies, there is one big existential question: Get big and stream, or give up and sell?
.. Traditional television is a pure gerontocracy. The only age demo watching more TV than in 2010 are eligible for Medicare.
.. You could say Disney is spending $60 billion for a risky makeover to appeal to a younger demographic, while Murdoch is using the money to install a golden stair lift.
.. Disney’s long-term strategy is, like Netflix, to own the means of distributing its content. What’s more, this deal is a “horizontal” merger
.. With this deal, Disney would control as much as 40 percent of the the U.S. movie business
.. Its control of the sports-television landscape, between the regional sports networks and ESPN, might be even more concentrated
.. Hollywood studios should be afraid to compete with a corporate Goliath that could earn half of all domestic box-office revenue in a good year.
.. Every tech company should be afraid to get into a content war with a company that combines the
- top blockbuster movie studio, with a
- top prestige-film company, with a
- world-class television production company, with the
- most valuable franchises—Star Wars, Marvel, Pixar, and X-Men—in the world.
.. In the last fiscal year ending in October, Disney’s made $55 billion in revenue, with about 60 percent coming from television and film (the rest came from parks, resorts, and merchandise). That 60 percent is endangered: Box-office ticket sales have been flat or declining for years, and television is in obvious structural decline
Mr. Trump’s decision to reject every long-shot plan to save the Senate seat reflects the imperative that an unpopular president faces to retain his political base, a determination that he should follow his own instincts after having felt steered into a disastrous earlier endorsement in the Alabama race, and even his insistence that he himself has been the victim of false accusations of sexual misconduct.
.. the president has handed the Democrats a political weapon with which to batter Republicans
.. What the president did not foresee was that the friction would reach inside his immediate family. He vented his annoyance when his daughter Ivanka castigated Mr. Moore by saying there was “a special place in hell for people who prey on children,”
.. He sees the calls for Mr. Moore to step aside as a version of the response to the now-famous “Access Hollywood” tape
.. He suggested to a senator earlier this year that it was not authentic, and repeated that claim to an adviser more recently. (In the hours after it was revealed in October 2016, Mr. Trump acknowledged that the voice was his, and he apologized.).. The Senate leader has told fellow Republicans in private that Mr. Moore’s nomination has endangered the party’s hold on the Senate.. Stephen K. Bannon, began aggressively urging Mr. Trump not to break with Mr. Moore, arguing that he should not get crosswise with his voter base.. “Our recommendation is to combine Steps 1 and 2: Strange resigns; the governor fills the vacancy with a new appointee; and the governor delays the special election to give the new appointee time to run as an independent candidate,” the lawyers wrote.
.. Mr. Moore’s campaign is thrilled to have the president’s tacit support and is promising to highlight it.
“We’re going to make it clear to the voters of Alabama that Roy Moore is the candidate to help President Trump get a conservative Supreme Court and cut taxes,
a common lesson this year: The pay is great, but job security has rarely been shakier.
chief executive churn reflects a broader reality for the country’s business elite: An array of challenges—from
- increasing impatience on Wall Street and in boardrooms to
- a corporate landscape rapidly transformed by new technologies and rival upstarts
—have made the top job tougher and more precarious than just a few years ago
.. The typical CEO of a major company a decade ago resembled a ship captain “who could rally a group of people with a lot of process and procedures,” said Deborah Rubin, a senior partner at RHR International, a leadership-development firm. “Today’s CEO has to be much more like a race car driver,” she added. “You have to do the sharp maneuvers.”
.. Flush with more cash than ever, activist investors are pursuing bigger corporate prey.
.. Even GE CEO Jeff Immelt’s disclosure that he would depart this summer came amid brewing tensions with activist investor Nelson Peltz
.. Mr. Peltz’s Trian Fund Management LP had recently stepped up pressure on GE to cut costs more aggressively and boost profits, setting off speculation about when the longtime CEO might leave.
.. Growing shareholder clamor for quick results comes as new technologies are upending entire industries. If you run a retailer, for instance, “you are watching your whole market go away in just a matter of years,”
.. Likewise, Ford’s ouster of Mark Fields after less than three years in its highest job was the starkest sign yet of how tech players such as electric-car maker Tesla Inc. and Alphabet Inc.’s autonomous-car unit, Waymo, threaten the traditional auto sector.