Rupert Murdoch’s News Corp Reveals Plan To Lay Off 5% Of Workers After Quarterly Earnings Miss

Senate Majority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries seized on the latest revelations from Dominion Voting Systems’ defamation lawsuit against Fox News, as they called on Rupert Murdoch to curb hosts from spreading election conspiracy theories.

Brent Lang Executive Editor Even a return trip to Pandora wasn’t enough to lift quarterly earnings at AMC Theatres. Despite the box office success of “Avatar: The Way of Water,” revenues at the world’s largest cinema chain fell 15% in the fourth quarter, topping out at $990.4 million. That was down from $1.17 billion in the prior-year period. Losses also widened, as AMC posted a net loss of $287.7 million, a steeper shortfall than the $134.4 million in losses it recorded a year ago. AMC lost 26 cents per share, compared to a loss of 13 cents in the same quarter in 2021. That fell short of Wall Street’s projections. Analysts were expecting quarterly revenue of $1.05 billion and earnings loss of 22 cents per share. AMC’s stock was briefly up nearly 4% in after-hours trading before falling back into negative territory.

Donald Trump went on the attack against Fox Corp. chairman Rupert Murdoch following the latest revelations from Dominion Voting Systems’ defamation lawsuit against the media company.

Representative Adam Schiff calls for advertisers to rethink putting their dollars behind Fox News and “stations that deliberately put out lies and deliberately undermine our elections,” tells MSNBC’s Lawrence O’Donnell, “Since there is nothing but the profit motive operating here, the only way to attack is to attack the profit.”The Democratic rep from California stopped by “The Last Word” Monday to discuss, among many things, Dominion Voting Systems’ lawsuit against FNC for defamation and the recent release of news that Fox corporate chairman Rupert Murdoch acknowledged that top Fox News hosts “endorsed” on-air what they knew to be a false narrative.“We see the Fox executives, including the very top executive, understood that they were lying to the American people and what a destructive impact it was having on our elections, on the confidence of our elections, and they did nothing to stop it and,” Schiff said. “Indeed, they affirmatively allowed it to go on because they were worried about losing ratings.”Schiff called Fox News and all those that work there “shameful” for their behavior.

filing earlier this month: That top hosts, including Sean Hannity, Tucker Carlson, Jeanine Pirro and Maria Bartiromo were privately horrified that their network was pushing Donald Trump’s “stolen election” narrative – but went ahead with it anyway.“I would have liked us to be stronger in denouncing it in hindsight,” Murdoch told the Superior Court of the state of Delaware, according to the filing.The documents revealed that top executives also reacted with incredulity – bordering on contempt – to various fictitious allegations about Dominion, including that a secret algorithm in its voting machines allowed ballots to be switched, and that the company was founded in Venezuela to help its former president, Hugo Chávez, fix elections.“Executives at all levels of Fox … knowingly opened Fox’s airwaves to false conspiracy theories about Dominion,” the filing states.Murdoch also said in his testimony that it was wrong for Fox hosts to “endorse” lies if they knew them not to be true: “Fox has a role in making sure people can agree on a basic set of facts,” he said last month. “Yes.

Rupert Murdoch said in a recent deposition that he “would have liked us to be stronger in denouncing” Donald Trump’s false claims about the 2020 presidential election, conspiracy theories that the Fox Corp. executive chairman at once called “bulls— and damaging.”

Brian Steinberg Senior TV Editor Fox Corp. sought to tamp down furor around a series of implicating quotes and texts culled from corporate executives and Fox News anchors, in the newest filing, part of a closely watched defamation lawsuit from voting-technology firm Dominion Voting Systems. Fox Corp. and Fox News Channel made the case in two filings in the Superior Court in Delaware that many of the colorful utterances from Fox News stars such as Tucker Carlson and Sean Hannity and even some from Fox Corp. Chairman Rupert Murdoch were beyond the scope of Dominion’s case, and urged the court to reject the company’s call for a summary judgement, or a ruling in Dominon’s favor that would negate the need for a trial. Dominion is suing Fox for $1.6 billion in damages it alleges it is owed after Fox News made false claims about the Dominion’s actions and influence on the 2020 election. It is the second legal proceeding made against Fox News for its coverage of the aftermath of the 2020 race for the White House. Smartmatic, a voting technology company, has filed a massive $2.7 billion suit against Fox News. At issue in the suits, are allegations that Fox News falsely claimed the companies had rigged the election, repeated items about the matter and refused to engage in efforts to set the record straight. The 2020 election was not fixed and its results were certified by multiple legal processes.

Peacock has been busy renewing lots of content in 2023 so far!

Fox News is a very profitable organization, and so are its stars.

Nick Cannon is addressing the possibility of having more kids.

Brian Steinberg Senior TV Editor David Zaslav sounds tired of taking lumps. After months of cost cutting, write-downs, and getting pilloried among Hollywood natives for killing projects, the Warner Bros. Discovery chief showed off some new truculence, making the case that while his newly-merged company has been having a tough time, so too were others. “‘Last year was a year of restructuring,” said Zaslav, during a call with investors Thursday. “This year will be a year of building.” Over the course of an hour, Zasalv and Gunnar Wiedenfels, Warner’s chief financial officer, made the case that their company was just as well-equipped as any of its rivals — perhaps even more so — to withstand a stormy era during which media companies are pressed to grow their streaming operations but maintain profitability. Zaslav elbowed Netflix for releasing all of the episodes for a program’s cycle all at once; suggested that a move to launch new “Lord of the Rings” movies would take away some of the momentum that Amazon had enjoyed from its launch of a series based on the novels; and told listeners Warner Bros. Discovery could launch an ad-supported streaming service without having to buy an outside asset, as Fox Corp. and Paramount Global had. “We can create a Tubi or a Pluto without having to buy anybody,” he boasted.

blog post. The company said it “will continue to actively assess opportunities to support the Company’s strategy to optimize the value of its Digital Real Estate Services segment and otherwise maximize shareholder value.”Bloomberg first reported in January that News Corp.

Ahead of the season 4 premiere of “Succession”, Brian Cox reveals the elaborate backstory he’s imagined for his character Logan Roy. He also opens up about how living his childhood in poverty has stayed with him throughout his life.

Fox News hosts and executives, including Tucker Carlson, Sean Hannity and Laura Ingraham, did not believe Donald Trump’s election fraud claims in the aftermath of the 2020 presidential election, but the network nevertheless amplified the conspiracy theories as it worried about losing viewers to Newsmax, according to filings from Dominion Voting Systems made public on Thursday.

From the outset, Sumner Redstone was a curiosity.

Brian Steinberg Senior TV Editor Shares of media giant Paramount Global tumbled in early trading Thursday after the company missed earnings targets and told investors profitability in its crucial streaming business would likely not take place until 2024. During a call with investors Thursday, executives from Paramount Global said they expected advertising, which has been crimped in recent months by recession fears and a roiled stock market, to improve in the second half of the year. They also suggested the merger of Showtime and Paramount+ would help cut expenses in content and on staffing. Class B shares of Paramount Global in recent trading were off 5.66%, or $1.39 a share, falling to $23.15 per share from Wednesday’s closing of $24.54.

The Lachlan and Sarah Murdoch Foundation has announced they will donate $1 million to fund Sydney’s Queer museum Qtopia.During her speech commemorating the opening, Sarah Murdoch said, “Today, I’m announcing that Lachlan and I, through the Lachlan and Sarah Murdoch Foundation, will donate a million dollars to Qtopia Sydney.”She continued, “I am here as a supporter and advocate for Qtopia to be realised.“I hope our donation will encourage many more corporates, foundations, and families to invest in what will be an amazing institution. An institution that not only protects, respects, and extends the quality of future Queer lives, but saves the lives of many young Australians.”Lord Mayor Clover Moore spoke about the importance of the day.“There’s a lot to celebrate today, as many of us think about the sadness of the 90s, and it’s a significant day for Sydney’s community as the LGBTQIA+ realises, a long-held aspiration.”She went on to thank the Lachlan and Sarah Murdoch Foundation, “I want to thank Sarah and Lachlan Murdoch for their contribution,” she said.

Joe Biden‘s tweet this past weekend about the Super Bowl was WAAAAAAAAY more popular than a similar one from Elon Musk, and the tech bro won’t let it go!

Brian Steinberg Senior TV Editor The Super Bowl is over. The path to the next one is just beginning. Before most football fans put the Kansas City Chiefs’ 38-35 defeat of the Philadelphia Eagles in Super Bowl LVII behind them, Paramount Global wants to get them to look ahead to the next big NFL spectacular. CBS and various cable networks owned by Paramount Global will Monday evening air a new promo for CBS Sports’ coverage of Super Bowl LVIII in 2024. The spot shows a CBS Sports bus hitting the road on its way to cover the event, scheduled to be broadcast on both CBS and Paramount+ on February 11, 2024, from Allegiant Stadium in Paradise, Nevada (one has to assume the bus will take the scenic route, given the substantial time frame). A song from Green Day plays in the background.

Peacock has announced another major renewal to add to their 2023 slate of renewals and cancellations of their original television content!