News

TikTok has named a new CEO and COO, calling the moves “a strategic reorganization to optimize TikTok’s global teams and support the company’s unprecedented growth.”

Shouzi Chew, CFO of TikTok parent ByteDance, is adding CEO responsibilities at TikTok, the fast-growing, short-form video app. Vanessa Pappas, who had stepped in as interim head after Disney vet Kevin Mayer’s brief tenure ended last summer, will formally take the role of TikTok COO.

“The leadership team of Shou and Vanessa sets the stage for sustained growth,” said Yiming Zhang, founder and CEO of ByteDance. “Shou brings deep knowledge of the company and industry, having led a team that was among our earliest investors, and having worked in the technology sector for a decade. He will add depth to the team, focusing on areas including corporate governance and long-term business initiatives.”

Next week, TikTok will deliver a presentation to U.S.

Amazon, Disney, and sports streamer Dazn are reportedly circling a sale of BT Sport, the British broadcaster that holds rights to blue-chip sports events including the Premier League and Champions League.

The Daily Telegraph reported late Wednesday that UK telecoms giant BT has engaged investment bank Lazard to explore a partial sale of its sports television arm as the £16 billion ($22B) company increases its focus on broadband. The Financial Times also corroborated the story.

On Thursday morning, BT confirmed the plans. In a statement, it said: “Further to media reports, BT can confirm that early discussions are being held with a number of select strategic partners, to explore ways to generate investment, strengthen our sports business, and help take it to the next stage in its growth. The discussions are confidential and may or may not lead to an outcome.”

The Telegraph said BT is in talks with Amazon, Disney,...

The English Premier League is in talks to skip another TV rights auction in the UK and extend the existing contracts of Sky, Amazon, and BT Sport, according to widespread reports.

The soccer competition is exploring the idea with existing rights holders and the government amid fears that an auction could result in a deal valued at less than the £5 billion ($7B) achieved in 2018. Ministers would need to sanction the rollover given that it could raise competition concerns.

Under the plans, Sky, Amazon, and BT Sport could retain their rights until 2025 on broadly the same terms that they currently enjoy, according to the BBC, Financial Times, and others. Those familiar with the matter said it would provide financial stability for clubs at a time when the pandemic has shutout fans from stadiums.

Rolling over the deals would mean not putting the rights out to open competition, which could be a blow to new entrants,...

Updated with name and details of new venture: John Skipper and Dan Le Batard, who were ESPN colleagues as network president and on-air talent, respectively, have formed Meadowlark Media.

The content venture, supported by billionaire Len Blavatnik’s Access Industries, “will emphasize a creator-centric point of view,” the official announcement said. Skipper will remain in his role as executive chairman of Dazn, the global streaming service backed by Blavatnik.

“I’m thrilled to be back in business with Dan, one of the leading and most unique voices in sports media,” said Skipper. “We have a lot in the works, but the first order of business will be to find Dan a new home for his wildly popular audio programs.”

Le Batard broadcast his final ESPN show on January 4.

“We hear the term ‘free agency’ a lot, but our fans, as loyal and rabid as any in sports, just gave us...

Top executives at Group Nine Media are launching a Spac, or special purpose acquisition vehicle, to go public and hunt for a digital media business to buy. They plan to merge that company, whatever it may be, with with Group Nine, owner of TheDodo, NowThis, Thrillist, Seeker and PopSugar.

SPACs, called ‘blank check’ entities, assemble managers, raise money in a public offering and use the cash to buy actual companies, which then inherit the Spac’s stock exchange listing without the stress of a formal IPO. The Group Nine move is testament to the growing allure of SPACs that now number in the hundreds and continued consolidation in digital media.

Its Spac, the Group Nine Acquisition Corp. (Gnac) filled with SEC for an IPO to raise an estimated $230 million to “pursue business combination opportunities with companies operating in the digital media and adjacent industries including, but not limited to, the social media,...

Kevin Mayer, the former Walt Disney exec who recently resigned as CEO of TikTok amid the threat of a ban over the popular social media app, has been named a senior media adviser for Russian-born billionaire Len Blavatnik’s Access Industries.

The move puts Mayer, a former chairman of Disney’s direct-to-consumer business, at a company with significant media and entertainment sector investments. Mayer will focus on Access’ media-related businesses, which includes stakes in Warner Music Group, sports streaming service Dazn and the music and audio streaming service Deezer.

“I look forward to helping Access build on the success ...

Kevin Mayer, the former Walt Disney exec who recently resigned as CEO of TikTok amid the threat of a ban over the popular social media app, has been named a senior media adviser for Russian-born billionaire Len Blavatnik’s Access Industries.

The move puts Mayer, a former chairman of Disney’s direct-to-consumer business, at a company with significant media and entertainment sector investments. Mayer will focus on Access’ media-related businesses, which includes stakes in Warner Music Group, sports streaming service Dazn and the music and audio streaming service Deezer.

“I look forward to helping Access build on the success ...

With yet another major round of layoffs about to hit Hollywood, I am reminded of Ben Hecht’s explanation of how he made his peace with the town. “The key is to understand how to balance the misery with the money,” he wrote.

Arriving in Hollywood at the zenith of the studio system, Hecht wrote that everyone he met was working, but also complaining. Good-paying jobs were abundant — for grips, extras, even writers. Studio contracts kept the stars bejeweled but not wealthy. The dreaded studio chiefs were autocratic but also not rich by today’s billionaire standards. The Hollywood ecosystem worked in its own self-protective way with everyone doing well but wanting more.

If Hecht were around today, he’d wonder why it isn’t working very well anymore (he managed to become its highest-paid writer). He’d especially be fascinated by the melodrama surrounding AT&T and its Hollywood protectorate,...

RedBird Capital Partners, the investment firm with stakes in David Ellison’s Skydance Media and the Yes Network, is opening a West Coast office in Los Angeles and has hired longtime top Goldman Sachs banker Andy Gordon to lead it.

He starts in February as partner charged with extending the firm’s expertise in media, sports and technology.

Gordon recently retired from Goldman after 35 years where he was global chairman of Investment Banking and global head of media and telecommunications. It’s where he met Gerry Cardinale, who founded RedBird in 2014.

“I have known Andy for over two decades, going back to our time together at Goldman Sachs where he worked on some of the most innovative and transformative transactions in media, entertainment, sports and technology,” Cardinale said. “Andy’s depth of experience and relationships … fit well with our own and will help us continue to source and execute the...

The Walt Disney Company’s Monday announcement that it was undertaking a major reorganization of its film and television teams with a goal of bolstering its streaming services was a hit with investors. Shares of the entertainment giant rose on the news that the company would refocus its operations to produce movies and shows and decide at a later date if they would debut on the big screen, cable or streaming arms Hulu and Disney Plus.

If Disney was hoping that the news would focus Wall Street’s attention on growth in streaming rather than the considerable distress facing its theme parks, the plan worked like a charm. Instead of dwelling on the fact that Covid-19 has depressed attendance at the parks it has been able to open in Asia, Europe and Florida, and left other venues such as Disneyland shuttered indefinitely, the narrative heading into Disney’s next earnings...

Reacting to a tumultuous 2020 and looking to establish a corporate structure suited to the transformations to come, the Walt Disney Co. has unveiled a major streamlining of its media and entertainment businesses.

Under the new structure, the focus will be on developing and producing original content for the company’s streaming services as well as for legacy platforms. Distribution and commercialization will be centralized into a single global unit called Media and Entertainment Distribution. It will be led by Kareem Daniel, a 14-year company veteran and former president of consumer products, games and publishing.

Covid-19 has ravaged Disney more than any other media company, with a direct impact on theme parks, travel, theatrical moviegoing, TV advertising, live sports and other longtime income sources. Streaming has been a bright spot, but it is thus far a money-losing endeavor for Disney, by design. In the spring of 2019, the company advised investors that...

Former NBA star Shaquille O’Neal has joined former Disney executives Kevin Mayer and Tom Staggs to create Forest Road Acquisition Corp., a Spac investment vehicle with the goal of raising $250 million for media and technology acquisitions. According to a filing with the SEC, Mayer will serve as a strategic adviser, Staggs will be director and chairman of the Strategic Advisory Committe and Salil Mehta, another former Disney executive, will serve as chief financial officer. O’Neal will also be a strategic adviser, as will producer Mark Burg. Martin Luther King III will be a director. Also Read: Behind Kevin Mayer's Sudden Exit From TikTok: Bad Fit, Reputation Fears The special-purpose acquisition company (or Spac) plans to raise $250 million for acquisitions in the technology, media, and telecommunications sectors. SPACs, occasionally referred to as “blank check companies,” are shell companies designed to allow investors to pool capital to fund mergers or acquisitions...

There’s a Spac born every minute – today a new one called Forest Road Acquisition registered with the SEC to raise $250 million and hunt for media and entertainment deals with executives and advisors from former TikTok CEO Kevin Mayer and former Walt Disney CFO Tom Staggs to basketball legend Shaquille O’Neal.

SPACs, or special purpose acquisition vehicles, proliferate when there’s more money floating around than there are places to invest for various reasons — now that’s mainly Covid.

The Spac is a shell company of film financing firm Forest Road. Harry Sloane and Jeff Saganksy, formerly of MGM, done a half dozen SPACs over the years. Playboy just launched one last week. They raise cash from investors to go public in a kind of modified IPO and buy companies in any sector they like.

They’re officially called “blank check” entities so investors need to trust they know what they’re doing.

The “Blank Check” bonanza continues.

On Thursday, a new Special Purpose Acquisition Company called Forest Road Acquisition Corp. filed an S-1 filing with the Securities and Exchange Commission seeking to raise $250 million from investors to acquire or merge with a company in the technology, media or telecommunications sectors.

The most notable news for Hollywood, however, is who is behind the Spac: Former Walt Disney Co. COO Tom Staggs, Disney’s former direct-to-consumer chief Kevin Mayer, and former Disney executive vp Salil Mehta. They are joined by NBA legend Shaquille O’Neal, film and TV producer Mark Burg (Saw, Two ...

The “Blank Check” bonanza continues.

On Thursday, a new Special Purpose Acquisition Company called Forest Road Acquisition Corp. filed an S-1 filing with the Securities and Exchange Commission seeking to raise $250 million from investors to acquire or merge with a company in the technology, media or telecommunications sectors.

The most notable news for Hollywood, however, is who is behind the Spac: Former Walt Disney Co. COO Tom Staggs, Disney’s former direct-to-consumer chief Kevin Mayer, and former Disney executive vp Salil Mehta. They are joined by NBA legend Shaquille O’Neal, film and TV producer Mark Burg (Saw, Two ...

Kevin Mayer, longtime Walt Disney dealmaker and short-lived TikTok CEO — is in talks to join RedBird Capital.

A person familiar with the situation confirmed Mayer is in talks about a role at the investment firm, whose entertainment and sports holdings include stakes in David Ellison’s Skydance Media and the Yes Network.

RedBird founder and managing partner Gerry Cardinale has known Mayer for many years through financial circles. The two also share a personal and professional interest in sports. While earning his undergraduate engineering degree at M.I.T., Mayer played for its football team.

Later, after earning his Mba from Harvard business school, he spearheaded Disney’s legendary strategic planning group, engineering a series of deals. He orchestrated key acquisitions of Pixar, Marvel and Lucasfilm. After orchestrating the $71.3 billion acquisition of most of 21st Century Fox, Mayer became head of Disney’s Direct-to-Consumer & International division, steering its streaming efforts.

Recently departed TikTok CEO Kevin Mayer is in advanced talks to join investment firm RedBird Capital, according to a source familiar with the situation.

The move would put Mayer, formerly chairman of Disney’s direct-to-consumer business, at a company that has made investments across the sports, media and entertainment sectors. It signals that RedBird founder Gerry Cardinale — who through his firm led a $275 million investment in David Ellison’s Skydance Media in February — is looking to increase his holdings in media and entertainment.

Mayer, who spent much of his career working under Bob Iger at Disney, was a ...

Recently departed TikTok CEO Kevin Mayer is in advanced talks to join investment firm RedBird Capital, according to a source familiar with the situation.

The move would put Mayer, formerly chairman of Disney’s direct-to-consumer business, at a company that has made investments across the sports, media and entertainment sectors. It signals that RedBird founder Gerry Cardinale — who through his firm led a $275 million investment in David Ellison’s Skydance Media in February — is looking to increase his holdings in media and entertainment.

Mayer, who spent much of his career working under Bob Iger at Disney, was a ...

A new TikTok Global would file for an initial public offering in the U.S. in about a year under a plan still awaiting approval by President Trump that would see Oracle and Walmart as major investors in the video sharing app, according to reports Thursday.

TikTok is said to have approached Instagram cofounder Kevin Systrom about becoming CEO following the departure of Kevin Mayer, according to news reports. The former Walt Disney executive ran the platform for just over three months and left in late August after President Trump threatened to ban the app in the U.S.

It’s not clear if or how the new TikTok would be majority U.S. owned. The Administration had set a Sept. 20 deadline for TikTok parent, ByteDance of China, to sell the U.S. assets of the hugely popular service due to security concerns over consumer data. Microsoft had been considered...

Disney plans to sell commercial inventory for the TV assets it recently acquired as part of its mammoth deal with the former 21st Century Fox alongside its ABC, ESPN and Freeform, giving its top ad-sales executive additional responsibility as well as influence on Madison Avenue.

Rita Ferro, Disney’s president of advertising sales, will sell ads for the FX Networks and National Geographic Networks, as well as ABC, ESPN and Freeform, the company said Thursday. The company has planned a new “combined” presentation to pitch Madison Avenue on all the networks, marking a turn for the media giant. In years past, the various Disney TV operations would hold separate meetings for ABC and ESPN. Disney in March closed its approximately $71 billion deal for the bulk of the former 21st Century Fox.

Disney’s presentation will take place May 14 and is part of the industry’s annual “upfront” sales season. when U.

A week into the new era at Disney following the completion of the Fox asset acquisition, the company’s new top TV executive, Walt Disney Television chairman Peter Rice, addressed the combined company’s TV troops in a town hall meeting on the Disney lot, which was live streamed to all employees from Los Angeles, New York, Washington DC, across the ABC owned TV stations and beyond.

As we reported, outside of TV distribution (domestic and international), which was expected to undergo reductions to eliminate redundancies, the combined Disney-Fox TV operations had been largely spared of layoffs, with the 20th Century Fox TV, Fox 21 TV Studios and ABC Studios teams left intact so far. That was in stark contrast to the exodus of high-profile Fox movie executives last week.

The lack of post-merger cuts has helped with morale among the TV ranks but it also has heightened anxiety over...

ESPN is deepening its relationship with Ufc, signing a new deal with the Mma promotion that will make ESPN+ the sole access point for Ufc’s fights on pay-per-view through 2025.

ESPN’s streaming service will host 12 live events per year, beginning with the April 13 fight between Max Holloway and Dustin Poirier. ESPN first gained sole TV rights to the Ufc last year.

“With the addition of Ufc PPV events, we are making ESPN+ an absolute must-have for any fan of the Ufc and mixed martial arts,” said Kevin Mayer, Disney’s chairman of direct-to-consumer & international. “In less than a year, ESPN+ has established itself as the leader in direct-to-consumer sports and this new programming agreement adds a significant business to our platform while reinforcing the value and strength of our product and our content lineup.”

Also Read: ESPN Becomes Sole TV Home to Ufc in $1.5 Billion Mega-Deal

ESPN is already...

Walt Disney Co. Chairman and CEO Bob Iger saw his pay rise to $65.7 million, an 80% increase over a year ago, according to documents filed today with the SEC.

The compensation reflects the generous stock package Iger was awarded as incentive to remain with the company past his planned retirement date, and lead Disney through its acquisition of much of 21st Century Fox’s film and television assets.

Iger earned a salary of nearly $2.9 million, up from $2.5 million a year ago. He collected options worth $8.3 million and non-equity compensation of $18 million.

But the biggest chunk of Iger’s compensation came from the stock award connected to the Fox deal, which was valued at $35.35 million. Disney notes that the stock ultimately could be worth as much as $149.6 million if the acquisition wins regulatory approval and closes, and he achieves the highest level of performance.

In 2017, Iger earned $36.3 million in total compensation.

Today...

On the heels of Disney’s historic deal to buy 21st Century Fox, Disney chairman-ceo Bob Iger saw a big increase in compensation last year thanks to stock awards he received after extending his contract in late 2017.

Iger’s total compensation for Disney’s fiscal 2018, which ended Sept. 30, reached $65.6 million, up from $36.2 million in 2017, according to Disney’s Securities and Exchange Commission proxy filing on Friday. The biggest driver of the increase was $26.3 million in stock awards Iger received in connection with his decision to extend his tenure as CEO through 2021 in order to shepherd Disney’s integration of 21st Century Fox assets.

Iger’s base salary increased slightly in fiscal 2018 to $2.9 million, from $2.5 million in 2017. He received a total of $35.4 million in stock awards and another $18 million in bonuses, per Disney’s proxy filing. Without the stock awards, Iger’s 2018 compensation package would have come in at $39.3 million.

Disney...

We’re on the verge of a year of huge change for the entertainment landscape as a result of the historic Disney/Fox deal, which is apparently now in its final stages.

Kevin Mayer has been involved in this wildly ambitious transaction right from the start, and in a recent interview with The Hollywood Reporter, the dealmaker explained that they’re almost at the finish line now, saying:

“The deal closing keeps me up at night, but it is almost done and closed,” Mayer said. “I’m eager to execute. I’m eager to get these services out in the public’s hands. That is an excitement more than it is a nervousness.”

While the merger is expected to be finalized at the start of 2019, that doesn’t mean we should expect to see the shift in ownership’s various effects to materialize all at once. However, once all the loose ends are tied up,...

Disney’s cancellation of Daredevil came as something of a shock. Fans weren’t particularly surprised when the underperforming Iron Fist got the chop, and perhaps Luke Cage was just an edge case, but surely the critically acclaimed Daredevil, which had just screened its best season yet, was safe, right? Sadly, that proved not to be the case.

While many reasons have been bandied about, my opinion is that with Disney Plus – Disney’s own streaming service – on the way, the corporation simply didn’t see the point in providing content for its soon-to-be primary competitor. Worst of all, industry analysts predicted that the shows’ cancellation was permanent, pointing out that complex contractual issues meant these heroes couldn’t just be moved to Disney Plus. Not to mention that the service will reportedly not be screening anything above a PG-13 rating, anyways.

But now there’s a small ray of hope.

The futures of the of the cancelled Marvel Netflix shows are currently floating around in limbo. In the statements that have been released by Marvel since Daredevil, Luke Cage, and Iron Fist have been cancelled, they make it seem like we haven’t seen the last of these characters. I’m sure we haven’t! The big question is, will they be the Netflix versions of the shows or rebooted versions?

During a recent interview with THR, Disney+ head Kevin Mayer was asked about these shows and if they would ever consider reviving them for the streaming service, which is where most fans figured they would end up, and he said that’s it’s a possibility. They just haven’t talked about it yet!

"They are very high-quality shows. We haven't yet discussed that, but I would say that's a possibility."

So, there is still hope for these shows to continue!

We’re on the verge of a year of huge change for pop culture as a result of the impending Disney/Fox deal, and according to Disney’s chairman of direct-to-consumer and international offers, the merger is now in its final stages.

Kevin Mayer has been involved in this historic transaction since the start, and in an interview with The Hollywood Reporter, the dealmaker remarked that he’s excited for the changes to come.

“The deal closing keeps me up at night, but it is almost done and closed,” Mayer said. “I’m eager to execute. I’m eager to get these services out in the public’s hands. That is an excitement more than it is a nervousness.”

Reports from a couple of months ago suggested that the merger was due to be finalized at the start of 2019, and that certainly seems to be the timespan Mayer is indicating here.

There was a moment at the end of 2017, while Disney was in the thick of negotiations for its industry-rattling deal to acquire most of the assets of 21st Century Fox, when then-chief strategy officer Kevin Mayer realized that he needed to get on a plane.

Mayer and general counsel Alan Braverman had already commandeered a conference room on the Disney lot in Burbank as they tried to hammer out an agreement with Rupert Murdoch's dealmakers. But Mayer knew it was time to take the negotiations to a new level. "I told Bob [Iger], 'I'm flying to ...

There was a moment at the end of 2017, while Disney was in the thick of negotiations for its industry-rattling deal to acquire most of the assets of 21st Century Fox, when then-chief strategy officer Kevin Mayer realized that he needed to get on a plane.

Mayer and general counsel Alan Braverman had already commandeered a conference room on the Disney lot in Burbank as they tried to hammer out an agreement with Rupert Murdoch's dealmakers. But Mayer knew it was time to take the negotiations to a new level. "I told Bob [Iger], 'I'm flying to ...

Disney’s Direct-To-Consumer & International unit has reached a deal with Google for advertising technology in a bid to increase revenue across its vast digital footprint.

Under the arrangement, Google ad tech tool Google Ad Manager will replace Comcast’s FreeWheel in powering the delivery, optimization and performance of digital ads across Disney’s global digital portfolio. The media company’s digital properties combined reach more than 230 million users around the world, with users viewing billions of videos per month.

Terms were not disclosed, but the Wall Street Journal cited an unidentified industry executive’s estimate that Google would receive tens of millions of dollars over the three-year term of the pact.

Along with existing systems, the deal also includes collaboration on the development of new ad solutions across video, mobile, apps and display. While the Dtc unit, run by Kevin Mayer, is known for subscription offerings like the highly anticipated Disney+,...

After years of friction over the direction of its direct-to-consumer strategy, Disney has just claimed major bragging rights with ESPN’s announcement that streaming service ESPN+ has reached 1 million subscribers in its first five months.

The legacy sports giant’s $5-a-month streaming service debuted in April, ending speculation about how ESPN planned to address the decline in its traditional video subscriber numbers. The erosion of subscribers dinged Disney’s stock and became a key point of focus for analysts tracking the company.

ESPN+, which features Major League Baseball as well as college sports, boxing, soccer and the Ufc, is the first of Disney’s direct-to-consumer offerings planned in the coming months. The general entertainment offering, which will include original movies and series as well as titled pulled off of Netflix, is slated to launch by the end of 2019. The drive to own content that can power streaming services capable of...

Disney's five-month-old ESPN+ streaming service has hit one million subscribers.

In announcing the news on Thursday morning, Kevin Mayer, chairman of the direct-to-consumer and international group that oversaw the launch of ESPN+, called it an "important milestone." He added, "The future is bright and we believe growth will continue as we add features, distribution partners and more exclusive content in the coming months." 

ESPN began selling its $5-per-month service in April as an add-on to the existing ESPN app, which also got a refresh at the time of the launch. The service boasts a ...

Disney once saw Maker Studios, the YouTube multichannel network it bought in 2014, as a catalyst for turning itself into a digital-content powerhouse.

The tide turned on that strategy last year, when the Mouse House formed Disney Digital Network — and dramatically downsized the Maker creator network to refocus its efforts on maintaining a Disney-branded voice in reaching new audiences online.

On Tuesday, Disney Digital Network execs showed off more fruits of the family-focused drive. At its Digital Content NewFronts presentation in NYC, it unveiled a programming lineup targeted at Gen Z and millennial consumers — and a lot of it’s geared around promoting Disney franchises and history. The new initiatives include Disney Eats, a new food-centered content brand with original shows from Tastemade, and a summer-long “Star Wars” fan event set to include a new docu-series about superfans of the Galaxy Far, Far Away.

Disney also screened a sneak-peek clip from...

Struggling toy-maker Mattel has appointed Ynon Kreiz, former CEO of Disney’s Maker Studios, as its new chief executive officer.

He takes over as Mattel’s CEO effective April 26, 2018. Kreiz replaces Margo Georgiadis, named CEO in February 2017, who will “pursue a new opportunity in the technology sector.” Georgiadis will serve in an advisory role at Mattel through May 10.

“Mattel is an iconic company with many of the world’s most beloved brands and greatest toy franchises,” Kreiz said in a statement. “I am excited by the opportunity to lead the company towards its next phase of transformation and restore Mattel to a high-performing toy company.”

Kreiz joined Mattel’s board of directors in June 2017. As previously announced, he also will become chairman of the board, effective upon his election at the annual shareholders meeting May 17.

Kreiz is the former chairman and CEO of Maker Studios, acquired by Disney in 2014, and...

Disney’s courtship of 21st Century Fox began last summer, in a casual meeting between the two top executives on the lush grounds of Rupert Murdoch’s Moraga Winery in Bel Air.

Documents filed with the Securities and Exchange Commission lay out intricate details of the corporate courtship — which, like any good Hollywood romance, entailed rival suitors who were ultimately spurned: Verizon and Comcast.

Disney CEO Bob Iger and Fox’s Murdoch met on August 9, for one of their occasional meetings to talk about the changing entertainment landscape and muse about the gathering challenges confronting media companies. They broached how best to respond — including the possibility of combining the two companies.

Five days later, 21st Century Fox executive chairman Lachlan Murdoch and CEO James Murdoch met with the CEO of another prospective suitor, believed to be Verizon, to discuss an all-stock transaction. Though Fox quickly determined it wasn’t interested...

The courtship between Disney and 21st Century Fox began over a glass of wine at Rupert Murdoch’s estate in Bel-Air on Aug. 9 and was sealed by a handshake and photo shoot atop a London high-rise on Dec. 12. Along the way, Comcast sailed in with a competing bid for Fox that offered more money — but with terms that made the 21st Century Fox board nervous about the cable giant’s ability to close the deal.

Disney and Fox revealed granular details of how the $52.4 billion merger agreement came to pass in a massive 455-page filing with the Securities and Exchange Commission late Wednesday. The mega-deal has jolted the entertainment industry as it marks a historic union of two of Hollywood’s Big Six studios. It also signaled the frenzy among traditional media heavyweights to bulk up content and distribution operations in the face of growing challenges from deep-pocketed tech giants including Facebook,...

Rivals ESPN and Fox Sports have teamed up to bid for television rights for Ultimate Fighting Championship.

Variety has learned that the two companies have recently proposed to split the Ufc TV package in a move that would bring as many as 15 fight events to new subscription streaming service ESPN+.

According to sources with knowledge of the proposal, ESPN has signaled that it would be willing to pay $120-180 million per year to add the Endeavor-owned mixed martial arts league to its collection of live-event rights.

Fox, which currently pays $120 million per year Ufc rights, would be willing see that number increase to a little more than $200 million. Fox’s current package includes four Saturday-night fights per year on Fox Broadcasting and a number of fight events on cabler Fox Sports 1 that has increased annually under its current agreement. A joint bid with ESPN would see Fox’s...

Andy Bird, Chairman of Walt Disney International, is set to exit the company after 14 years, Deadline has confirmed. The move comes in the wake of last week’s announcement of a reorganization of Disney’s businesses as it prepares to launch direct-to-consumer services and seeks to grow internationally — and ahead of the pending acquisition of Fox’s film and TV assets. Last week, it was revealed that Kevin Mayer, who has served as Disney's Chief Strategy Officer, has been…...

Studio segment remains virtually the same.

The Walt Disney Company’s upcoming streaming platform and its technology and international channels are to operate under one division as the company announced a strategic reorganisation on Wednesday (March 14).

Effective immediately, the consolidation aligns the company with its growth priorities in the areas of technology and direct-to-consumer services and comprises four segments: the new direct-to-consumer and international operation under chairman Kevin Mayer; parks, experiences and consumer products under chairman Bob Chapek; media networks; and studio entertainment.

The studio entertainment business segment led by The Walt Disney Studios chairman Alan Horn that encompasses Walt Disney Animation Studios,...

The Walt Disney Co. announced a reorganization of its businesses as the company prepares to launch direct-to-consumer services and seeks to grow internationally. Kevin Mayer, who has served as Disney’s chief strategy officer, has named chairman of the new Direct-to-Consumer and International business segment — elevating the increasingly visible executive behind some of Disney’s biggest acquisitions to an operational role. "Kevin is a proven leader who has played a…...

The Walt Disney Co. announced a reorganization of its businesses as the company prepares to launch direct-to-consumer services and seeks to grow internationally. Kevin Mayer, who has served as Disney’s chief strategy officer, has named chairman of the new Direct-to-Consumer and International business segment — elevating the increasingly visible executive behind some of Disney’s biggest acquisitions to an operational role. "Kevin is a proven leader who has played a…...

Disney is consolidating some of its businesses amid the company’s pending $54.2 billion takeover of 21st Century Fox. Kevin Mayer will lead the new streaming operations, while Parks boss Bob Chapek adds consumer products to his purview. “We are strategically positioning our businesses for the future, creating a more effective, global framework to serve consumers worldwide, increase growth, and maximize shareholder value,” Bob Iger, chairman and CEO of The Walt Disney Company, said Wednesday. “With our unparalleled Studio and Media Networks serving as content engines for the Company, we are combining the management of our direct-to-consumer distribution platforms, technology and...