Hulu is set to launch an online service to stream broadcast and cable TV channels. Walt Disney Co. and 21st Century Fox, both with ownership stakes in Hulu, are negotiation to provide programming, The Wall Street Journal reports. The service would increase competition with premium TV providers and other digital entrants.
Gannett Co. Inc. has ratcheted up pressure on Tribune Publishing Co. to accept its buyout offer. The publisher of USA Today said it would urge shareholders of Tribune to withhold their votes for eight board nominees at the June 2 shareholder meeting, Bloomberg reports.
The trial over Sumner Redstone’s mental competence finally heads to court this Friday. An appearance by the 92-year-old controlling shareholder of Viacom Inc. and CBS Corp., however, is highly unlikely, The Wall Street Journal reports.
Disney’s “The Jungle Book” stayed atop the box office for the third straight week. According to the Los Angeles Times, the movie garnered an estimated $42.4 million in the U.S. and Canada over the weekend, bringing its total revenue to $252 million domestically and $684 million worldwide.
An Australian man has come forward and claimed to be “Satoshi Nakamoto,” creator of cryptocurrency Bitcoin. Craig Wright, whose name surfaced in reports last year as the programmer who developed Bitcoin, said he went public reluctantly, The New York Times reports. A Los Angeles County man, Dorian Satoshi Nakamoto, was incorrectly identified as the creator in 2014.
The Dow Jones industrial average was up 30 points in trading Monday to 17,084. The S&P 500 was up 4 points to 2,069. The Nasdaq was down 4 points to 4,771. The LABJ Stock Index was up slightly to 230.
DreamWorks Animation Chief Executive Jeffrey Katzenberg is set to receive a $400 million payoff should the studio complete its sale to Comcast’s NBCUniversal, according to the Los Angeles Times. He would also become chairman of the newly formed DreamWorks New Media division with Illumination Entertainment’s Chris Meledandri taking the helm at the animation studio.
California’s high-speed rail authority has released an updated two-year business plan that includes $2 billion worth of improvements to Southern California passenger rail lines, according to the Los Angeles Times. Local concerns arose in February when the agency said it would first build a $21-billion operating segment from San Jose to the Central Valley.
A federal judge in Florida has ruled that Walt Disney Co.’s parks and resorts did not treat guests with autism and other developmental disorders unfairly, according to Deadline. The lawsuit filed two years ago by 16 children and young adults claimed Disney’s Disability Access Service program resulted in long waits and other problems for those visitors.
The L.A. Rams selected Cal Quarterback Jared Goff as the top overall pick in the NFL draft on Thursday. It’s the second time in seven years that the team has selected a quarterback as the No. 1 pick, reports ESPN.
The Dow Jones industrial average fell 48 points in early Friday trading to 17,782. The S&P 500 fell 3 points 2,072. The Nasdaq rose 1 point to 4,806. The LABJ stock index fell one point to 231.
Comcast’s NBCUniversal has reached agreement to buy DreamWorks Animation in a deal that puts an equity value of $3.8 billion on the studio, reports CNBC. Under the terms of the deal, DreamWorks chief executive Jeffrey Katzenberg will become chairman of DreamWorks New Media and a consultant to NBCUniversal. The acquisition would still need regulatory approval.
Los Angeles billionaire Patrick Soon-Shiong was given a compensation package last year worth almost $148 million by his biotech firm NantKwest, according to a stock filing Wednesday. The package makes him one of the highest paid executives in the country, reports the Los Angeles Times.
Jessica Alba’s Honest Co. is again being accused of false labeling – this time over its baby formula. According to CNN Money, the Organic Consumers Association has filed a lawsuit claiming the Playa Vista company falsely labels its Premium Infant Formula as “organic.”
It’s a huge day for the Los Angeles Rams as the team prepares to pick first in the NFL draft. Quarterback Jared Goff is the favorite to be selected, reports the Los Angeles Times.