Netflix won’t be airing that Dave Chappelle onstage attack.
21.04.2022 - 06:07 / deadline.com
Bill Ackman’s Pershing Square Holdings, which made a high-profile purchase of Netflix shares in January after a dip in the stock price, said it sold the stake today, having “lost confidence in our ability to predict the company’s future prospects with a sufficient degree of certainty.”
Pershing’s portfolio “requires a high degree of of predictability in the businesses in which we invest,” Ackman said in a letter to shareholders.
Read it in full below.
Pershing losses from its investment in the streamer reduced the fund’s year-to-date returns by four percentage points.
Netflix stock plunged 35% today as investors bailed following a weaker than expected quarterly report and forecast on Tuesday that showed subscriber growth slowing and no immediate fixes. The woes of the streaming leader could have ripple effects across the sector.
Netflix lost 200,000 subs in the first quarter and anticipates a dip of 2 million in the current quarter, citing an array of headwinds from macro factors to Smart TV rollouts to 100 million freeloaders who share other people’s passwords.
The company is cracking down on password sharing and, in a big pivot, will launch a tier with advertising like most of its rivals have done or are planning. That would lower the cost and diversify the revenue base but take a few years to get up and running.
ACKMAN LETTER:
Dear Pershing Square Investor:
Today, we sold our investment in Netflix, which we purchased earlier this year. The loss on our investment reduced the Pershing Square Funds’ year-to-date returns by four percentage points. Reflecting this loss, as of today’s close, the Pershing Square Funds are down approximately two percent year-to-date.
While we have a high regard for Netflix’s management and the
Netflix won’t be airing that Dave Chappelle onstage attack.
Dave Chappelle made headlines last week when he was attacked on stage during his show at the Hollywood Bowl, but it doesn’t seem like we’re going to see the professional footage anytime soon.
Robbie Praw, VP of Stand-up and Comedy Formats at Netflix, announced on Monday that the streamer will be showcasing highlights from the 11-day “Netflix Is a Joke: The Festival” stand-up comedy event held in Los Angeles, including Pete Davidson riffing on Kanye West’s bizarre social media onslaught, Amy Schumer telling a joke she wasn’t allowed to do at the Oscars, and David Letterman commenting on the recent attack on Dave Chappelle.The month-long comedy rollout begins with “The Hall: Honoring the Greats of Stand-Up,” on May 19, which has John Mulaney paying tribute to Robin Williams, Dave Chappelle on Richard Pryor, Chelsea Handler on Joan Rivers and Jon Stewart to George Carlin. The remaining programs are as follows:Also coming up is a Gabriel “Fluffy” Iglesias special filmed in front of Netflix’s largest-ever audience at a sold-out Dodger Stadium.“These shows represent some of the best work we’ve done at Netflix, with the best comedic talent on the planet. We’re so grateful to everyone who performed, helping to create the biggest comedy festival in U.S.
Netflix has announced a June 10 premiere date for A Tribute To Bob Saget, a celebration of the comedian and actor’s life in comedy with his friends and family. The date was unveiled as part of the Netflix Is A Joke festival.
UPDATED, 7:40 AM: Netflix today released a four-minute video clip of Pete Davidson joking about Kanye West during his appearance last week at the Netflix Is A Joke: The Festival at The Fonda Theatre. You can watch it above.
Joe Otterson TV ReporterJeff Daniels is set to play the lead role in the upcoming Netflix drama series “A Man in Full,” Variety has learned.The series is based on the Tom Wolfe novel of the same name. Variety exclusively reported the show had received a straight-to-series order at the streamer in November 2021. The show hails from David E. Kelley with Regina King onboard to direct and executive produce.In the series, Atlanta real estate mogul Charlie Croker (Daniels) faces sudden bankruptcy.
Netflix series Raising Dion has been cancelled.The superhero show ran for two seasons on the streaming platform and was executive produced by the Black Panther actor.The news was revealed by one of the show’s stars, Sammi Haney, who plays Esperanza Jimenez.“Sad to say that Raising Dion is CANCELED.
Laika is teaming with the creator of “Ozark” to create a new stop-motion animated feature described as a “gritty neo-noir folktale.” Bill Dubuque, who created the Netflix series “Ozark,” wrote the original screenplay for “The Night Gardener,” which will be directed by Laika’s CEO and President Travis Knight, who previously helmed the Laika feature “Kubo and the Two Strings.”Described as a gritty folktale, the new film follows a young man in rural Missouri fighting to keep his family together in the wake of a tragedy. The film will paint an unflinching portrait of sacrifice, self-reliance and revenge, per an official description.“’The Night Gardener’ is a beautiful and timeless story that quickens the pulse as often as it breaks the heart,” said Knight in a statement.
Jane Fonda and Lily Tomlin are opening up about welcoming Dolly Parton onto the Grace & Frankie set.
The second half of Grace and Frankie’s final series is arriving on Netflix this week.
Grace and Frankie, but, in real life, the actress has recently become a full-blown teetotaler.In an interview with about the final season of the show—the longest-running original series in Netflix history—Fonda revealed that she stopped drinking. “And here's why: It's because even with one drink, like, if I had a martini tonight, I would be at half-mast tomorrow,” she explained. “Now, that wasn't true when I was younger.
Jane Fonda isn't worried about growing older. Fonda stopped by to promote her Netflix series , where she gave her opinion on aging.«I'm super-conscious that I'm closer to death. And it doesn't really bother me that much,» Fonda said.«What bothers me is that my body is, you know basically not mine!» she continued.
Jane Fonda & Lily Tomlin are stepping out to promote the final episodes of their hit Netflix series Grace & Frankie!
Lily Tomlin pushes down her hands in the cement during her Hand and Footprint Ceremony held at TCL Chinese Theatre on Friday (April 22) in Hollywood.
Joe Otterson TV ReporterThe Netflix spy series led by Arnold Schwarzenegger and Monica Barbaro has set its main cast, Variety has learned.Appearing in series regular roles in the series are: Jay Baruchel, Aparna Brielle, Andy Buckley, Milan Carter, Fortune Feimster, Barbara Eve Harris, Gabriel Luna, Fabiana Udenio, and Travis Van Winkle. Additionally, the following actors will appear in recurring roles: Devon Bostick, David Chinchilla, Rachel Lynch, Stephanie Sy, and Scott Thompson.Full character descriptions for all the new cast members can be found below.The untitled spy drama was ordered at Netflix in May 2021, with the streamer giving the one-hour show an eight episode order.
was wiped out Wednesday.Netflix stock dropped to $215.50 per share in early Thursday trading, a more than 5% loss on the day.