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The humiliating decision to turn its back on Hollywood has forced a return to its ‘bellhead’ roots in telecoms
Completion bonuses foreshadowed investor revolt over ‘pay for underperformance’
Transaction comes as media dealmaking this year hits highest level since dotcom boom
Two proposed deals encapsulate the changing entertainment landscape
AT&T and Verizon unwind big bets on media content to concentrate on core businesses
Plus, Spac fever proves less contagious, and a closer look into Sanjeev Gupta’s ‘white knight’
Deal expected to trigger fresh wave of consolidation in the sector
Telecoms group abandons Hollywood dream but shareholders in new venture can still play supporting role
For shareholders of the telecoms group, the victory has proved pyrrhic
David Zaslav to lead empire with enterprise value of $132bn and one of Hollywood’s most prized catalogues
Structure of agreement unclear but AT&T expected to control most of combined entity
Many backlashes stem from plan changes to ensure bonuses were paid out during pandemic
Investors should reject Larry Culp’s revised pay deal, ISS, Glass Lewis say in latest critical recommendations
Shares in ViacomCBS, Discovery and Disney have all soared over the past year
Three executives alleged to have selectively disclosed information related to earnings forecasts
Deal values satellite broadcast provider at $16.3bn, far less than what telecoms group paid for it
US officials celebrate taxpayer windfall but it is a heavy price for indebted companies
HBO Max remains bright spot as consumers shift to online streaming during pandemic
Deal to buy anime streaming service offers Japanese group quick entry into growing industry
Deal is latest sign of push by Japanese group into video games, film and animation
Michael Klein’s Spac and private equity group Apollo among bidders for unit valued at close to $50bn just five years ago
Streaming decision makes sense with outlook for cinema attendance looking poor for 2021
Studio to make next year’s movies available on HBO Max from day one in theatres
WarnerMedia revenue hit by production and cinema shutdowns although HBO Max was a bright spot
Operators pin hopes on iPhone 12 after slow adoption of the new networks among consumers
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