Sony Pictures Television has acquired controlling interest in the reality TV production company behind “Real Housewives of Beverly Hills” and “Vanderpump Rules.”
The Culver City studio, which produces “Jeopardy!” and “Wheel of Fortune,” announced Monday that it has closed its purchase of a majority stake of Alex Baskin’s three-year-old production firm, 32 Flavors. Baskin’s company has been expanding beyond its audience-addicting programs on Bravo to develop podcasts and documentaries.
NBCUniversal will continue to own “Real Housewives” and the other programs it televises, including “The Valley,” and spinoff show, “The Valley: Persian Style.” Baskin will continue as executive producer on his Bravo shows and stay on as chief executive of his production company.
Sony declined to disclose deal terms.
“Real Housewives of Beverly Hills” and “Real Housewives of Orange County,” are produced through Baskin’s company.
“32 Flavors has been on a remarkable trajectory, and with Sony’s support, we expect that momentum to accelerate meaningfully,” Baskin said in a statement.
Sony Pictures Entertainment studios in Culver City.
(Luis Sinco / Los Angeles Times)
Sony already owns nonfiction production companies, including Sharp Entertainment, Embassy Row, Brass Monkeys Media and 19 Entertainment, the powerhouse behind “American Idol.” It also owns formats for “Shark Tank,” and “90 Day Fiancé,” and an upcoming adaption of the board game, Clue.
“As the market evolves, we see real opportunity in premium nonfiction, and 32 Flavors strengthens our ability to deliver high-impact, returnable formats that connect with audiences and buyers around the world,” Katherine Pope, president of Sony Pictures Television Studios, said in a statement.
Pope gained responsibility for the unscripted TV business earlier the spring as part of a restructuring and dramatic downsizing, which resulted in hundreds of layoffs in the Japanese company’s entertainment business. At the time, Sony said the cuts reflected a business shift under Sony Pictures Chief Executive Ravi Ahuja.
“Things can always evolve and change, and I think that’s awesome, and things should evolve and change, but I hope the core of what ’60 Minutes’ is always remains,” Anderson said on-air. “I think the independence of ’60 Minutes’ has been critical.”
Throughout the farewell segment, the 58-year-old journalist, who was hired in 2007, reminisced about some career highlights, like speaking with Holocaust survivors and people battling malnutrition in Niger, as well as interviewing A-listers like Lady Gaga and Prince Harry. He also said he hopes the show continues to be a reliable source of investigative journalism.
“I think the trust it has with viewers is critical to the success of ’60 Minutes.’ When you see a ’60 Minutes’ story, and you’re like, ‘That was a really good story.’ It was a good story because it requires time, it requires patience, it requires money,” he said. “I hope that’s known and honored and valued and continues.”
Two months after taking on the new role, Weiss made the widely panned decision to pull a “60 Minutes” episode that examined the alleged abuse of deportees sent from the U.S. to an El Salvador prison. The decision earned Weiss heavy criticism and accusations that the move was politically motivated, which CBS has denied.
Cooper said that he’s leaving the program to spend more time with his young children. He will remain as an anchor for CNN.
He added, “I hope ’60 Minutes’ is around for when my kids grow up and have kids of their own, and they can watch it with their kids.”
WASHINGTON — David Venturella, a former executive at a private prison operator, will serve as the acting head of U.S. Immigration and Customs Enforcement, the Trump administration says, after the agency’s current leader steps down at the end of the month.
A spokesperson for the Department of Homeland Security said late Tuesday that Venturella would succeed Todd Lyons, who led the agency through much of the administration’s tumultuous crackdown on immigration. ICE did not immediately respond to an email seeking additional information Wednesday.
Venturella left the Geo Group in early 2023 and has been working at ICE leading the division that oversees detention contracts, members of Congress wrote in a public letter earlier this year.
At the Geo Group, which houses around one-third of ICE detainees, Venturella served in a number of posts, including executive vice president overseeing corporate development, according to a Securities and Exchange Commission filing. He also oversaw removal operations for ICE in 2011 and 2012 after working for federal contractors, including one that specializes in security clearances and background checks.
Geo has benefited from President Trump’s mass deportation push, garnering big contracts to open three shuttered facilities. Among them was a $1-billion, 15-year deal for a detention center in New Jersey’s largest city.
“Last year was the most successful period for new business wins in our company’s history,” Geo’s CEO George Zoley said during an earnings call last week.
Geo owns and operates 23 ICE detention facilities, with about 26,000 available beds. Zoley also said that ICE’s air transportation subcontract had continued to steadily increase and that it secured a new contract last year for electronic monitoring.
Venturella will lead ICE at a time when the public mood has soured on Trump’s immigration crackdown, which sent surges of federal immigration officers into American cities to round up immigrants. Those raids sent tensions soaring and prompted clashes between protesters and law enforcement, leading to the fatal shootings of two U.S. citizens in Minneapolis earlier this year.
Trump returned to the White House on a promise of mass deportations, and ICE has been a central executor of that vision. Under Lyons’ leadership, the agency used a massive infusion of cash to expand hiring and detention capabilities, and it ramped up arrests to meet demand from the Republican administration.
Federal officials announced Lyons’ departure last month from ICE, which had gotten $75 billion from Congress to fulfill Trump’s mass deportation campaign.
Venturella’s appointment comes as Homeland Security Secretary Markwayne Mullin settles into his role atop the Cabinet agency overseeing ICE. Mullin has promised to keep his department out of the headlines and has indicated a softer tone on immigration, although he is expected to align with the president’s priorities on mass deportations.
One contentious issue confronting Homeland Security now is a plan for converting warehouses into immigrant detention centers. Conceived while Kristi Noem led the department, the effort has encountered multiple lawsuits and intense community blowback, including in Republican-led states.
The $38.3-billion plan would increase detention capacity to 92,000 beds and mean acquiring eight large-scale facilities, capable of housing 7,000 to 10,000 detainees each, and 16 smaller regional processing centers.
Those, and other sites, were supposed to be running by the end of November. But after Noem’s departure, the department paused the purchase of new warehouses as it scrutinizes all contracts signed during her tenure.
Last month a judge extended a pause on transforming a massive Maryland warehouse into a processing facility for immigrants, and there are signs that federal officials are scaling back the plans.
This could be good news for Geo. The Florida-based company has about 6,000 idle beds at six company-owned facilities, Zoley said last week.
Zoley had offered a note of skepticism about the warehouse plan during an earlier earnings call in February, noting that renovating a warehouse is “more complicated than you may think.” At that point, he said the company was “cautiously” looking at whether to bid to help operate some of them.
Brace yourself, Coronado. The hospitality maven who brought San Diego its most over-the-top maximalist hotel — the Lafayette in North Park — is back with another glitzy project, this time in the wealthy island city known for its traditional bent.
Opening Thursday, Baby Grand includes a 35-foot faux rock wall, a 20-foot waterfall, a Mediterranean restaurant that feels like a Greek ruin being consumed by a jungle and a hidden oyster bar full of crystal and mirrors. All of this, including the Spanish statuary, Moroccan fixtures and Murano glass, is squeezed onto an Orange Avenue lot that once held a 1950s motel. If Liberace had run away with an art historian, they might have landed here.
The idea was “to create this little mirage within the mirage that is Coronado,” said Arsalun Tafazoli, founder of CH Projects, the group behind a multitude of design-intensive establishments across San Diego including the speakeasy Raised by Wolves, the hi-fi listening bar Part Time Lover and the Middle Eastern restaurant Leila.
The Baby Grand hotel and its restaurant Night Hawk stands along Orange Avenue about a block from the Hotel del Coronado.
The patio dining area of Coronado’s new Night Hawk includes seating for about 150.
Baby Grand’s high-density, high-gloss environment, which cost about $17 million and took about five years to complete, will come as no surprise to those who have followed Tafazoli’s earlier ventures.
Asked about the design philosophy behind the 2023 renovation of the Lafayette — the company’s first hotel — Tafazoli had a simple answer: “More is more.”
The Baby Grand project, put together in collaboration with design studio Post Company, is cut from the same cloth, describing itself as a “polychromatic pastiche” on its website. The goal, Tafazoli said, is to enrich Coronado’s culture and give people a respite in an anxiety-ridden time. But “it is different,” he said. “I don’t know if it is going to be embraced.”
Getting the necessary city permissions “was definitely a struggle,” Tafazoli said. “Had I known how difficult this was going to be, I don’t know …”
In the days before the hotel’s opening, Tafazoli, 44, led a tour of the site. The entrepreneur, whose heritage is Persian, wore his hair in braids and a button-down Supreme shirt featuring Barack Obama.
The Baby Grand hotel’s guest rooms feature separate tub and shower.
“I have a very one-dimensional existence. I’m single. I have no kids. This is what I do,” said Tafazoli, who grew up in San Diego and studied at UC San Diego. He lives now in downtown San Diego’s East Village, where his company is based and where his first CH venture, Neighborhood, opened in 2007.
Though his company started with eating and drinking establishments, Tafazoli said, his goals were always to create and run hotels, “the pinnacle of hospitality.” As a child of divorce, he said, he may have a heightened awareness of when the energy feels right in a room and when it doesn’t. Creating social environments, he said, gives him some control over that. Moreover, he added later, “beauty is important to me, because it conveys care.”
To make the most of Baby Grand’s compact location (2/3 of an acre), the CH team has exported parking. Instead of leaving their cars on site, guests will hand keys to valets who will deposit vehicles in a Bank of America parking structure a block away. That move freed up space for not only palm trees, torches, tables, booths and 21 pieces of statuary from Spain, but also a little faux beach with a 4-foot-deep wading pool that can hold a handful of people.
“I can’t tell you how many iterations of sand were brought in and taken out,” Tafazoli said. “Sand is its own universe. You want local sand. But local sand was not conducive to that feeling.” So the sand is from Turkey.
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1.Guest shower in an en suite bathroom.2.Hotel design touches include guest bathroom door handles. 3.Fiberglass clamshells serve as headboard in guest rooms.
The property’s main restaurant, Night Hawk, is Mediterranean, with cooking by open fire, a Greek ruins vibe and seating for about 150. The second restaurant lurks behind the lobby — a hidden oyster-and-Champagne bar that holds about 35 people, reservation only. The space, called Fallen Empire, features red mohair booths, built-in Champagne buckets, mirrored walls and chandeliers, sconces and lamps from the Italian glass-blowing island of Murano. The floor is a custom mosaic of sea creatures.
There are 31 guest rooms, beginning at $350 per night. Each is dominated by a custom-made clamshell headboard (fiberglass). Beds are surrounded by animal-print seating, parquet oak flooring, marble tables, mirrored cabinets and custom wallpaper. The rooms measure roughly 300 square feet each, nearly half of that space taken up by their elaborate bathrooms, each with separate tub and shower, sinks from Morocco.
Now picture all of that placed in the heart of Coronado (population 20,192), which sits next to Naval Air Station North Island and is known for attracting well-heeled retirees. The median home value is $2.5 million.
Up the block from the Baby Grand is the grand dame of San Diego County tourism, the Hotel del Coronado, which went up in 1888, completed a $550-million renovation last year and starts its rates north of $600. Another option is the Bower Coronado, also a dramatically upgraded motel that reopened in 2025 with prices similar to Baby Grand’s but a much more buttoned-down style.
This view from above at the Night Hawk restaurant space shows a stone booth, elaborately patterned cushion and table top.
All of those properties stand close to Coronado’s wide, sandy beaches — which means they all face challenges as waters are often fouled by the northward flow of untreated sewage from greater Tijuana. The longstanding problem has worsened in recent years, and Coronado’s Central Beach was closed to bathers on 129 days in 2025 because of unsafe bacteria levels. The U.S. and Mexican government say they have sewage-treatment projects in progress, with improvements expected by the end of 2027.
“We are, unfortunately, not marine scientists just a group of deeply overcaffeinated hoteliers with strong opinions about lighting, linen textures, and good design. So please check local water conditions before swimming,” Tafazoli wrote in a statement.
Asked his target market for the new hotel, Tafazoli said he was looking close to home.
“I see this as a staycation for locals” from San Diego County, Tafazoli said. “The big risk is that we don’t get locals and it doesn’t resonate with tourists who like the status quo.”
That said, Baby Grand and Coronado might be a better match than some imagine. Christine Stokes, executive director of the Coronado Historical Assn. and Museum, sees at least a few parallels to Baby Grand in local history, beginning with the historical association’s own building. From the 1950s into the 1990s, Stokes noted in an email, Marco’s Restaurant operated in the space, with a “Roman Room” bar — “a dark and immersive hidden gem where bartenders performed sleight-of-hand magic tricks.”
Guest rooms, including No. 103, are labeled with inscribed brass clamshells.
Then there was the Hotel del Coronado’s Circus Room restaurant, open from the 1930s into the 1960s. That was “an immersive environment, using specialized murals and striped tents on the walls,” Stokes wrote. It’s also where, in 1950, the manager of an L.A. TV station spotted a promising young piano player and decided to give him a chance on screen. The pianist’s name was Liberace.
However people respond to the particulars of the new hotel, Tafazoli said, he knows that the larger setting of Coronado is a special place.
From his office in San Diego’s East Village, “it’s a six-minute drive,” he said. “I come off that bridge, and I feel like I’m in a different place.” It’s amazing, he said, “to be so close and feel so far away.”
The snow was flying sideways and he had no jacket, but this lumberjack did not shiver. He stood about 25 feet tall, ax in hand, wearing a red hat and rictus grin. And he was made of fiberglass.
I stood at his feet on the Northern Arizona University campus in Flagstaff, full of the satisfaction that comes at having accomplished something truly trivial: At last, I was face to face with the original Muffler Man.
Stories, photos and travel recommendations from America’s Mother Road
Easter Island has its stone-faced monoliths. China has its terra-cotta warriors. And we Americans have these roadside giants, also known as Paul Bunyans, Uniroyal Gals and most commonly, Muffler Men. Manufactured in Los Angeles, they first appeared on the highways of North America in the early 1960s as an advertising gimmick, often promoting car lots or car parts. Now they’re rising again, a battalion of restored and replica specimens, beloved by road-trippers, kitsch aficionados, artists, preservationists and savvy entrepreneurs.
“To me, they’re kind of instant friends,” said Amy Inouye, the designer and artist who rescued L.A.’s most iconic Muffler Man, Chicken Boy, a chicken-headed statue that stands atop her gallery in Highland Park. “They’re really tall and they just want to be accepted for who they are.”
The Northern Arizona University campus in Flagstaff includes the first oversize fiberglass Muffler Man, who has long been outfitted as a lumberjack.
These figures are especially plentiful along Route 66 this year as it turns 100 — there was a “pre-centennial frenzy” in the words of roadsideamerica.com, which coined the term “Muffler Men” and tracks them on a map. Nobody’s certain how many figures were made during the golden age of Muffler Men, but since 2020, the tally of giants has climbed above 250, including “a few dozen” rediscoveries since 2010, according to Doug Kirby, the co-founder and publisher of the site.
“Just in the last year or two, all these Muffler Men are being added,” he said. In addition, more than a dozen giants are currently in transition — that is, getting reconditioned or relocated.
1.) Cigars and Stripes BBQ in Berwyn, Ill., features a Muffler Man smoking a cigar and holding a jumbo bottle of barbecue sauce. 2.) The Gemini Giant stands along Route 66 in Wilmington, Ill.
On a recent westbound journey from Chicago on Route 66, I started seeing them almost immediately.
First, on Ogden Avenue in the Chicago suburb of Berwyn, there was the Cigars & Stripes Muffler Man. He stood on the roof of the Cigars & Stripes BBQ Lounge, brandishing a chicken wing and a fridge-size bottle of barbecue sauce while chewing on a stogie.
Next, in Wilmington, Ill., came the Gemini Giant, who stands 23 feet tall above a tiny park. Made for a Wilmington diner in 1965, he was auctioned off for $275,000 in early 2024 and placed in his current location later that year. He wears a clunky silver space helmet and holds a rocket in his hands.
I had come across a few Muffler Men before this trip, including Big Josh, who looks down upon Joshua Tree from the Station gift shop on State Route 62. But now I was paying more attention.
At first, I learned, these giants were all men, conceived around 1962 by a Lawndale entrepreneur named Bob Prewitt and made popular from the early 1960s through the mid-1970s by a company in Venice called International Fiberglass.
Made from a standard set of molds and held together by steel frames, most Muffler Men are assembled from three or four pieces. Besides those figures holding mufflers and tires, others were outfitted as cowboys, Indians, lumberjacks (often known as Paul Bunyans), astronauts, chefs, dentists, golfers, hot dog vendors, race-car drivers, pirates and service-station attendants. Then there were the jug-eared goofball characters, which some scholars of the art form call halfwits, while others prefer snerds.
As interest in this kind of advertising grew, female giants followed, including Uniroyal Gals and Rosie the Riveters. Oversized animals, including dinosaurs, bulls, roosters, hens and seals, also multiplied.
Juni Peraza, 25, works at the Meadow Gold Mack retail shop on 11th Street in Tulsa, Okla. She said she has only recently realized the possibilities that come with 11th Street being part of Route 66.
All that action faded in the 1970s. But in about 1989, the seeds of a new Muffler Man era were sown.
Kirby, Mike Wilkins and Ken Smith, who had worked together on the 1985 book “Roadside America,” were building a database for a follow-up project when they realized, “Hey, wait, this configuration of statue we’re seeing in a lot of places,” Kirby said. “We decided we’d better start keeping track.”
The first few they saw were holding mufflers. Thinking of the old nursery rhyme “Muffin Man,” and a Frank Zappa song of the same name, Kirby decided to call them Muffler Men.
When the roadsideamerica.com website launched in 1996, Muffler Men were part of it. By 2000, Roadside America had uncovered their origin story and interviewed Steve Dashew, former president of International Fiberglass. And readers had embraced the giants in a big way.
This fiberglass Rosie the Riveter figure went up on 11th Street in Tulsa in 2025.
“It was like a religious epiphany for some people. For years, they were driving past these things,” Kirby said. “As soon as they realized it was part of an uncharted network across the country … it’s like your third eye has been opened.”
Ken Bernstein, principal city planner for Los Angeles Office of Historic Resources, calls Muffler Men “monumental and distinctive representations of midcentury car culture, especially along auto-centric corridors where it was important to catch the eye of passing motorists.”
New giants, known as custom jobs, are being steadily manufactured now. There’s an entire economic community emerging around their restoration, replication, sales, transport and display, including companies like (Re)Giant and sculptor Mark Cline’s Enchanted Castle Studios. (To confuse matters, many Southern California mechanics woo customers by welding together mufflers to make human figures. Those creations, too, are often called Muffler Men.)
The American Giants Museum in Atlanta, Ill., created in 2024 by Bill Thomas of the Atlanta Betterment Fund and collector-historian Joel Baker, is devoted to the fiberglass figures. The museum, open April through October, includes four standing Muffler Men, with two more expected around Memorial Day.
Because the giants stand in the open air, visitors who show up after hours — as I did — can ogle them any time.
Atlanta, Ill., is home to the American Giants Museum, which celebrates the Muffler Men and Uniroyal Gals that were common roadside advertising features in the middle 20th century.
“I love history. I love anything to do with cars and old advertisements. I think it just takes people back,” said Lee Woods, 55, who jumped on the Muffler Men bandwagon about five years ago and owns the museum.
Woods and his wife, Diane, who have a fleet of tow trucks in Hot Springs, Ark., were collecting old porcelain gas station signs, gas pumps and old cars in 2021 when, on a drive through Illinois, they laid eyes on the Gemini Giant.
“I told my wife I would love to have one of them things to represent our tow company,” Woods recalled.
Before long, they had hired someone to build a custom tow-truck-operator Muffler Man. And before that Muffler Man was done, Lee Woods had bought another one — a Paul Bunyan in Oklahoma. Then in 2023 he got a hold of a Muffler Man Mr. Spock from Rainbow Neon in Salt Lake City. Now Woods has eight Muffler Men in Arkansas.
“Sometimes I get carried away, my wife says,” Woods said.
Last fall, he bought the museum, where he collaborates with Baker, who is founder of the American Giants website, creator of a Giants YouTube series and serves as a Muffler Man broker, consultant and transportation specialist.
“When people see these things, they think they’re the coolest thing out there,” Woods said. “Today we’ve had people from six different countries here.”
1.) Cowboy Bob, who is about 20 feet tall, plays guitar and wears a bolo tie, is one of several oversize fiberglass mascots along 11th Street in the Meadow Gold District of Tulsa. 2.) Meadow Gold Mack, a friendly lumberjack, is mascot for a shop of the same name on 11th Street in Tulsa.3.) A Muffler Man near Gearhead Curios in Galena, Kan.4.) The 2nd Amendment Cowboy is a fiberglass giant that stands at the entrance to a trailer park near the art installation Cadillac Ranch in Amarillo, Texas.
From here, the giants seemed to come fast and furious. One in Galena, Kan. Two in Vinita, Okla. (which has since added a third). Five in Tulsa’s Meadow Gold District (including one with an 8-foot-long guitar).
Then in Weatherford, Okla., came a 30-foot astronaut. In Amarillo, a “2nd Amendment Cowboy” with a pair of big pistols at his feet. In Gallup, N.M., a giant on the roof of a used car lot.
By the time I’d reached Flagstaff, my count was 18.
Then came my snowy moment with the original Muffler Man, whose nickname is Louie. Experts agree that he was produced in about 1963 and sent to a Flagstaff cafe with a lumberjack theme (and yes, that cafe stood along Route 66).
Louie stood there until the cafe closed more than 10 years later. Then he was donated to NAU and stationed by the ticket office of the university’s Walkup Skydome. Another lumberjack stands inside.
But after Louie, I hit a drought — no more giant sightings in Arizona and none on the Route 66 alignment I followed into Southern California.
This seemed wrong, because there are so many giants along the byways of Southern California and because this is the land of their birth. Besides Big Josh, there’s the Paul Bunyan in Mentone, the empty-handed Muffler Man known as Kevin on Sherman Way in Van Nuys. There’s the flag-wielding Porsche Muffler Man in Carson (who previously served in the same spot as a club-brandishing Golf Man). And there are plenty of others.
It didn’t seem right to end the journey without another sighting. So I made my way to Highland Park to meet the one who rules the roost.
More specifically, I headed for 5558 N. Figueroa St., which was on the path of Route 66 for several years in the 1930s and which is the home of Chicken Boy.
Blessed with the customized head of a chicken, the body of a Muffler Man and a bucket in his hands (for eating chicken?), Chicken Boy stood for years atop the Chicken Boy fried-chicken restaurant on Broadway downtown, inspiring writer Art Fein to label him “L.A.’s Statue of Liberty.”
After the restaurant was shuttered in 1984, Inouye swooped in to rescue Chicken Boy and place him in protective storage — for years, as it turned out.
The fiberglass statue known as Chicken Boy stands on the roof of artist, designer and gallerist Amy Inouye’s studio on Figueroa Street in Highland Park.
In October 2007, after she and longtime partner Stuart Rapeport had bought the Highland Park studio space and pulled permits, Inouye put Chicken Boy back together again and set him up on the roof. There he remains, sharing space with a billboard, visible up and down the block between Avenue 55 and Avenue 56.
If a nomination by L.A. preservationist Charles J. Fisher goes through, Chicken Boy could become the first Muffler Man declared a city historic-cultural monument. And if you drop by the Future Studio Gallery on a Saturday between noon and 3 p.m. or 4 p.m., you’ll likely find Inouye, now 74, along with a trove of Chicken Boy T-shirts, patches, pencils and ceramic treasure boxes.
But seeing Chicken Boy is its own reward, especially after seeing so many of his fiberglass cousins. I got there on a balmy afternoon, beheld Chicken Boy’s beak gleaming in the sun, and knew my mission was complete.
WASHINGTON — The chair of the House Oversight Committee has sent a letter to OpenAI Chief Executive Sam Altman requesting information about potential conflicts of interest between Altman’s personal investments and his operation of the company.
The letter, sent Friday, comes amid a high-stakes legal battle currently playing out in an Oakland federal courtroom between one-time partners Altman and Elon Musk, the world’s richest man, who in 2015 co-founded the AI company best known for creating ChatGPT.
The company was first established solely as a non-profit corporation and the letter sent to Altman by Rep. James Comer (R-Ky.), the Republican chair of the Oversight committee, indicates that the committee is “investigating potential conflicts of interest involving capital from nonprofit corporations invested in startups and other for-profit companies.”
Comer has requested by May 22 a briefing from the company official responsible for oversight of potential conflicts involving company officers and directors, including Altman, as well as all documents related to conflict of interest policies and guidance for those executives.
While OpenAI was created as a non-profit designed to responsibly harness the power of the emerging artificial intelligence technology, the company created a for-profit subsidiary in 2019 and three years later released ChatGPT, which jumpstarted widespread adoption of the technology.
Musk, the chief executive of Tesla, left Open AI’s board in 2018, one year before the creation of the for-profit arm. He is arguing that Altman and another co-founder, Greg Brockman, betrayed the original mission of the non-profit organization, driven by their desire to “cash in” on the technology.
Musk added Microsoft, a significant investor in OpenAI, to the lawsuit in 2024. OpenAI is rumored to be gearing up to go public later this year or early next, and was recently valued at $852 billion.
Musk has said that he invested $38 million in the OpenAI non-profit, but he does not stand to benefit from a potential OpenAI public offering.
He created a rival company xAI in 2023 that was later folded into his company SpaceX
In the lawsuit, Musk is seeking $150 billion in damages, for Altman to be removed from the company and for the company to be fully returned to its non-profit status.
Musk’s complaint also alleges that Altman engaged in self-dealing by directing OpenAI to pursue deals with companies in which he also held a personal stake, including nuclear fusion power company Helion.
Comer’s letter cites reporting that Altman’s pursuit of a Helion deal, which is still ongoing, would come at a lofty valuation of the power-company, boosting the company’s worth, and the value of Altman’s investment.
Altman was briefly forced to step down from leadership of OpenAI in 2023 in part due to concerns about potential conflicts between his personal investments and his operation of the company, but was soon reinstated.
While the company’s board created an audit committee to investigate the potential conflicts of Altman and other officers, the findings were never disclosed.
Comer has requested that Altman turn over all documents and communication related to that audit committee.
Representatives for OpenAI did not immediately respond to requests for comment.
Digital entertainment company BuzzFeed Inc. is selling its majority stake to Los Angeles entertainment mogul Byron Allen for $120 million.
BuzzFeed announced the sale late Monday, saying Allen Family Digital had agreed to pay $3 a piece for 40 million shares, representing a 52% stake in the company.
Allen will pay $20 million in cash upfront with the remaining $100 million due in five years.
As part of the deal, Allen also will take over HuffPost, another internet pioneer, owned by BuzzFeed.
The sale is expected to close later this month. BuzzFeed founder and current chief Jonah Peretti will transition to a new role as president of BuzzFeed AI.
Allen will become chairman and chief executive.
“This investment in our business and Byron’s management roles will provide liquidity and operational focus to BuzzFeed,” Peretti said in a statement.
BuzzFeed has been on the ropes, financially, for a number of years. It bought HuffPost in 2021 to bolster its readership and offerings to advertisers. Three years ago, it pulled the plug on its once ubiquitous BuzzFeed News unit.
BuzzFeed reported a $15 million net loss in the first-quarter of the year. The company generated $31.6 million in revenue, a 12.4% decline compared to the year-ago period. Ad revenue fell nearly 20% year-over-year to $17.1 million. However, content revenue grew more than 50% to $7.5 million.
BuzzFeed soon will make another round of significant cost cuts prior to Allen’s takeover, Peretti said in the statement. He added that BuzzFeed Studios and Tasty will spin off to form a new independent entity.
The deal comes at a busy time for Allen, a former stand-up comedian who is taking over CBS’ late night block later this month, replacing “The Late Show with Stephen Colbert,” which is being canceled by CBS and its owner Paramount Skydance.
Earlier this month, Allen sold television stations in nearly a dozen markets owned by the Allen Media Group to Atlanta-based Gray Media Inc. for about $170 million.
Allen still owns 13 network-affiliate stations in nearly a dozen markets, including the Weather Channel‘s linear and digital outlets, including PETS.TV and COMEDY.TV.
“Our vision is to build on the iconic foundation of BuzzFeed and HuffPost by expanding into free-streaming video, audio and user-generated content,” Allen said. “BuzzFeed is officially chasing YouTube to become another premiere free video streaming service.”
When Kevin Hart announced in January that he’d licensed his name to Authentic Brands Group, the popular comedian was silent on a key detail: the future of his namesake media company.
Hart sold some ownership and oversight of his brand in exchange for an undisclosed sum of money and a stake in Authentic, a New York-based firm that manages the likenesses of Marilyn Monroe, Muhammad Ali, Shaquille O’Neal and David Beckham.
Hart used the partnership with Authentic to reset his relationship with the people around him and his company, according to six current and former employees. Hart’s employees say they worry that this deal marks the beginning of the end of Hartbeat, the comedian’s namesake media company that produces films, owns a network of short-form video channels and handles marketing for brands.
Though the announcement made no mention of Hartbeat, the agreement gave Hart money to buy out his private equity partner in the company over time and regain control of the use of his name, image and likeness. Hart’s endorsement deals, which had been a pillar of Hartbeat business, will now be handled by Authentic.
Once valued at about $650 million, Hartbeat has shriveled over the past few years. The company enacted its latest round of job cuts in December, firing the heads of its scripted TV division, as well as employees working across marketing, social media and brand partnerships, said the people. Earlier this year it let go the leaders of its podcast division and later sued them for breach of contract.
Hart has withdrawn from the company, leaving day-to-day management in the hands of a small group of executives. Staff meetings have been canceled. The development of new film and TV projects has slowed. A slate of new podcasts was pitched but never produced.
Hartbeat’s struggles reflected the challenging environment for many Hollywood production companies as media giants merge and cut spending. The company is also a cautionary tale in this age of the celebrity media mogul. Financial firms have plowed money into media companies led by high-profile figures, believing they could use their notoriety to build valuable businesses. Yet even seemingly successful ones have had a hard time.
Hartbeat, like many of its peers, has suffered from mismanagement and grappled with the tension between the needs of the star and his company. Hart, one of the hardest-working people in Hollywood, tired of subsidizing a company that relied so much on him
Hart declined to comment for this story, which is based on conversations with several current and former employees. On Sunday night, Hart, who hosted the widely viewed roast of NFL great Tom Brady two years ago, was the subject of his own roast on Netflix.
Building a Billion-Dollar Business
One of the most successful stand-up comedians and actors of his generation, Hart, 46, has always been entrepreneurial. In 2017, he started Laugh Out Loud, an online video comedy business that later grew to include branded entertainment. He also operated his own production company, Hartbeat Productions, that made programs for streaming services like Peacock, Quibi and Netflix Inc.
With Hollywood in the midst of a production boom, Hart watched his fellow celebrities get rich from their media enterprises. Reese Witherspoon sold her media company, Hello Sunshine, in a deal that valued it at as much as $900 million. Hart’s friend LeBron James raised money for his company, SpringHill, at a valuation of $725 million. Hart believed he could be next.
In late 2022, Hart merged his business interests under the Hartbeat banner and raised money by selling a 15% stake to the private equity firm Abry Partners. The deal valued the company at about $650 million.
The new business was predicated on three pillars: film and TV, short-form video and advertising. Hartbeat had a deal to produce movies for Netflix, a slate of podcasts for SiriusXM Holdings Inc. and original audio series for Audible. Hartbeat also developed relationships with advertisers such as Lyft Inc., Procter & Gamble Co. and DraftKings Inc.
While Hart would star in Hartbeat projects, the goal of the company was to develop projects and new business that didn’t involve its namesake founder. The company could leverage Hart to sell projects and secure broad programming partnerships. Hart would ask that Hartbeat be involved in producing his movies and any advertising campaign for which he was a spokesperson. His fees as a producer and brand ambassador would help pay the bills. The hope was he’d convince other celebrities to use Hartbeat as well. Thai Randolph, who had been running Laugh Out Loud, was named chief executive officer.
Hartbeat opened offices in New York and Atlanta and took over a 40,000-square-foot West Hollywood office once occupied by Oprah Winfrey. Hart redesigned the space and installed a world-class art collection.
The upper-level lobby featured a work by Ghanaian artist Serge Attukwei Clottey, while the conference room had a sculpture by Zimbabwean artist Moffat Takadiwa made of computer keyboard keys. A portrait of Kobe Bryant by Julian Pace hung outside a podcast studio.
Hart’s own office featured a dressing room, a series of paintings by South African artist Feni Chulumanco, multiple TVs and a desk from a prominent French designer. “He really has almost a full-service apartment in his suite,” Kai Williamson, who worked with Hart on the project, told Architectural Digest. Hart was interviewed for a story and also filmed an episode of the design magazine’s “Open Door” video series.
While Hartbeat expanded, Hollywood entered a recession. Economic uncertainty, rising interest rates and growing skepticism about the profitability of streaming caused major media companies to fire staff and pull back on buying new projects. Hartbeat was a little more insulated than most because talent like Hart could usually still get a project made. Still, producing projects without Hart in a starring role became more difficult.
Randolph left the company in late 2023 and was replaced by Jay Levine, who had spent much of his career at Warner Bros. Discovery Inc. Levine brought in a couple of other senior leaders with experience at major media companies.
A contingent of executives pushed Hart to scale back some ambitions, the people said. The company couldn’t afford to be working in so many different businesses at the same time, especially as areas like free, advertising-supported online video, and podcasts got more competitive. Hart was one of the most prolific and productive creative people in the world, starring in and producing movies, TV shows, comedy, short-form videos and advertisements. The point of the company was to relieve the stress on him, not add to it.
While Hartbeat closed its New York office, Hart was reluctant to scale back his vision or replace some long-time lieutenants. Levine negotiated his exit at the end of 2024 and was followed out the door by the company’s chief financial officer and chief content officer. Days before Thanksgiving, Hartbeat laid off about 20 people, nearly one quarter of its work force.
A year of chaos and conflict
In January 2025, Hart announced he would be the new CEO of Hartbeat and pledged to outline the firm’s strategy in the coming weeks. Instead, Hart went weeks and sometimes months without visiting the office, the people said, and empowered Jeff Clanagan and CFO Eric Stoneburner to run the company day to day. (Hart was on set to shoot at least a couple movies last year, in addition to his other work.)
A former concert promoter and movie producer, Clanagan had helped make Hart a major star. He had partnered with Hart to bring his stand-up specials to the big screen, producing shows such as 2013’s Kevin Hart: Let Me Explain, which grossed $32 million at the box office. Clanagan produced some of these specials under the banner of his own company, Codeblack Films, which helps promote, market and distribute video from Black creators.
Clanagan continued to operate Codeblack while serving in a senior capacity at Hartbeat, said the people. He pushed employees at Hartbeat to post its videos to the Codeblack channels as well, saying they could use the additional reach to raise awareness. The videos generated advertising sales for Codeblack.
Clanagan had employees at Hartbeat oversee Codeblack’s social media pages and asked to get those channels loaded into Hartbeat’s content management system. That gave Codeblack’s YouTube channels advantages over others because of Hart’s prominence and his company’s designation with YouTube. Employees raised concerns with human resources and the company’s lawyer.
Clanagan also became increasingly interested in video generated by artificial intelligence. He started a new app called Blktopia, a streaming service for Black viewers programmed with content from online creators and often made by AI. He urged employees to work on it, the people said. Clanagan initially responded to a request for comment and then retracted the text message.
Meanwhile, many of Hartbeat’s main businesses languished. Sales from the company’s YouTube channels fell and investment in new film and TV projects slowed. Hartbeat, once profitable, started to bleed cash. Hartbeat had hired Eric Eddings and Lesley Gwam to produce audio shows that didn’t involve Hart. While the pair developed a slate of projects, they never got approval to make them.
In mid-December, Hartbeat fired about a dozen employees, including some of those who were supposed to develop the podcasts. Eddings and Gwam then decided to start their own company and began trying to raise money. When Clanagan found out, Hartbeat fired them and sued for alleged theft of trade secrets and breach of contract.
A court approved a temporary restraining order but then rejected a preliminary injunction, saying Hartbeat had not demonstrated Eddings and Gwam had used proprietary information or trade secrets. The court said the request was “vague, ambiguous, and overly broad.” The case is ongoing.
Hartbeat also fired the heads of its TV division, Tiffany Brown and Mike Stein, who were in the middle of producing a TV show based on the film Barbershop for Amazon.com Inc. and a second season of the animated series Lil Kev.
The company made no official announcement explaining the cuts. The following week, senior leadership arranged a Zoom meeting. Hart remained off camera until it was his time to speak. He talked for a few minutes about changes at the company and took no questions. Hart changed his phone number in the weeks following the layoffs. (Some of his advisors had suggested he do this years earlier so that he wasn’t so available.)
A few weeks later, Hart announced the deal with Authentic Brands Group. Hart used some of the proceeds to buy out Abry Partners, freeing him to steer his brand deals to Authentic and outside of Hartbeat. A few of his employees and his publicist joined him at Authentic.
“This is a turning point for Hartbeat,” the company wrote in a subsequent email to employees, explaining that the deal would free Hart up to focus on what he does best, while allowing Hartbeat to stand on its own and grow beyond him.
“I know the past few months have been tough,” Hart wrote, adding that for too long the company had been too dependent on him. The email was said to be from “Kevin AKA Boss Man.” It was sent by Hart’s assistant.
NBCUniversal has ordered a TV adaptation of the popular New York Times puzzle Wordle that will be hosted by Savannah Guthrie.
Jimmy Fallon, whose company is co-producing the show, and Guthrie announced the series pick-up Monday on NBC’s “Today.” “Wordle” will begin production later this year and debut on NBC in 2027.
Guthrie filmed the pilot episode for Wordle last fall in Manchester, England, where the series will be made as well. The project from Universal Television Alternative Studio, Fallon’s Electric Hot Dog and The New York Times, has been in development for two and a half years.
Guthrie said she learned the show was picked up in February and was set to shoot episodes in March. But producers delayed the start as Guthrie went on a hiatus for two months after the disappearance of her mother Nancy.
“They just stopped everything and said, ‘we will wait for you, of course,’” Guthrie said. “And Hollywood is a really tough business as you know, and I didn’t expect that.”
Guthrie returned to “Today” on April 6. Law enforcement officials believe Nancy Guthrie was taken against her will from her Catalina Foothills home on Jan. 31. The investigation into her abduction is ongoing.
Guthrie did not mention the situation with her mother’s abduction, but indicated her game show duties will be another step toward normalcy. “I’m just determined to put one foot in front of the other,” she told colleagues.
Wordle asks players to guess a five-letter word in six chances through a process of eliminating letters. An individual player’s performance in the game can be posted online without revealing the answer, as the colored tiles are shown without the letters.
Offered as part of a subscription to a bundle of puzzles on the New York Times web site and app, Wordle has been a major driver of digital revenue for the company. The New York Times said earlier this year that users solved the Wordle puzzle 4.4 billion times in 2025.
Wordle was created by Brooklyn, N.Y.-based software engineer Josh Wardle in 2021. After it became an immediate hit online, the New York Times purchased it for a price reported to be in the low-seven-figure range.
In recent months, movie theaters have seen the likes of Elvis Presley, Billie Eilish, BTS and Michael Jackson take on the big screen. Whether it’s in the form of a concert film, a documentary or a biopic, music-based theatrical releases have delighted audiences — and both major studios and record labels are taking note.
Paramount Pictures and Warner Music Group are joining forces to make movies featuring top talent on Warner’s roster, the companies announced Thursday. The multi-year, first-look deal will feature some of Warner’s most recognizable artists like Madonna, and the late David Bowie and Frank Sinatra — as well as contemporary pop stars like Charli XCX and Dua Lipa.
Together, the companies hope to combine WMG’s vast music catalog and Paramount’s theatrical experience to create more music-themed live-action and animated films.
“Every artist deserves to tell the stories behind their life and music in their own creative way, and we’re excited to partner with our incredible talent and world-class filmmakers to bring these stories to the big screen, growing their audiences around the world,” Robert Kyncl, WMG’s chief executive officer, said in a statement.
WMG will work with its production partner, Unigram and Paramount to develop each project in conjunction with the artists or their estates. The collaboration aims to give music artists more latitude when their work is used in feature films or when storylines are based on them.
Unigram co-founder Amanda Ghost said the deal “finds new ways to empower iconic artists and to bring their creative worlds to the screen with music as a central character.”
The announcement comes after Paramount celebrated the premiere of the Billie Eilish concert movie “Hit Me Hard and Soft: The Tour” at the Westwood Village Theater on Wednesday night. The 3-D feature, co-directed by Eilish and James Cameron, is set to hit theaters this weekend and follows her most recent stint of performances.
Earlier this week, movie theater chain AMC revealed its theaters will begin rolling out a new kind of immersive concert experience in June. The concept will feature acts like Paris Hilton and Kim Petras performing on a remote stage as the show is beamed into theaters around the country. Though unlike a typical livestream, new technology allows artists to see, hear and respond to the theater audience, in effect turning the local AMC into a virtual concert venue.
An Amazon MGM Studios executive allegedly solicited kickbacks from an aspiring vendor in exchange for post-production contract awards on shows, according to a recently filed lawsuit.
Joe Eckardt, owner and president of Hollywood-based postproduction services firm Unbreakable Post, alleged that the studio’s head of postproduction, Frank Salinas, told him during a business lunch in 2023 that Salinas could “ensure” Unbreakable Post would be included as an approved vendor to bid on Amazon-affiliated projects.
Salinas would give Eckardt the target budget number for his company’s bid and “effectively guarantee that Unbreakable would be awarded the work,” the lawsuit states.
After the contract was awarded, Eckardt would then pay Salinas a percentage of the project value as a kickback, the lawsuit says.
After Eckardt refused, he alleges that his contract opportunities with Amazon dried up.
He states in the lawsuit that although he had done “substantial” work, served as a postproduction consultant or selected vendor on shows such as the Mexico, Brazil and Argentina productions of the reality series “Temptation Island” and the third season of documentary series “Coach Prime,” he was not selected by Amazon for a contract with those projects.
In 2025, Eckardt alleges that he reported Salinas’ conduct to Amazon and after six months of information gathering, the company told him that “its investigation had concluded and that the allegations were ‘not substantiated.’”
Amazon MGM Studios did not respond to a request for comment. Salinas declined to comment.
Eckardt’s lawsuit was filed Wednesday in Los Angeles County Superior Court. He alleges that he lost more than $1 million in contracts, income and future business opportunities. He is seeking a jury trial.
Two press freedom groups that own shares in Paramount Skydance are demanding to see the company’s books and internal documents, citing allegations that the company’s leaders may have promised favors to the White House to win approval for Paramount’s deal to acquire Warner Bros. Discovery.
The letter, sent Thursday to Paramount chief legal officer Makan Delrahim, says that media reports alleging that Paramount owner David Ellison and others promised favors to the Trump administration “create credible concern that Paramount leadership has offered, solicited, or effectuated a corrupt exchange,” which the groups argue would “constitute a breach of fiduciary duties” and open the company up to a “range of potential civil and criminal penalties.”
The letter cites Delaware law that allows stockholders to inspect the company’s books and records “for any proper purpose.”
Paramount declined to comment on the letter.
Among the issues raised in the letter are promises reportedly made by David Ellison and his father, Oracle billionaire Larry Ellison, that they would make “sweeping” changes at the news network CNN, which is owned by Warner Bros. Discovery.
The Ellison family acquired Paramount, which includes CBS and the storied Melrose Avenue film studio, last summer.
The letter cites changes implemented in CBS since their acquisition, including their decision to end late night television house Stephen Colbert’s show days after he characterized a settlement Paramount reached with Trump as a “big fat bribe.”
Under Ellison’s ownership, the letter says, numerous high-profile reporters have left the network and its ratings have dropped to “historic lows.”
Larry Ellison, who is backing the financing of Paramount’s proposed takeover of Warner, reportedly told White House officials that Paramount would “implement the CBS playbook” at CNN if the merger is approved, and remove anchors and commentators at the cable news network that Trump doesn’t like, according to the letter.
The effort comes just two weeks after Warner Bros. Discovery shareholders overwhelmingly approved the proposed merger. Investors have supported the Larry Ellison family takeover, which would become the biggest Hollywood merger in nearly a decade. The deal would pay Warner stockholders $31 per share — four times the stock price a year ago.
The letter was written on behalf of the Freedom of the Press Foundation, which develops secure communication tools for journalists and tracks violations of press freedom, and Reporters Without Borders, which tracks press freedom globally.
The organizations are being represented by former federal prosecutor Brendan Ballou, who established the Public Integrity Project this year to challenged alleged government corruption, as well as Delaware attorney Ronald Poliquin.
The missive, which could be a precursor to a lawsuit, opens another avenue of attack against the controversial $111-billion deal, which would transform the smaller Paramount into an industry titan.
With Warner Bros. Discovery, the Ellisons would also control HBO, TBS and the vast film and TV library of Warner Bros., which includes the Harry Potter, DC Comics, and Scooby-Doo, in addition to CNN.
Paramount, led 43-year-old David Ellison, wants to finalize its Warner Bros. takeover by the end of September. President Trump favors the deal; he has long agitated for changes at CNN.
Politicians, unions and progressive groups separately have pressed California Atty. Gen. Rob Bonta to scrutinize the proposed merger, hoping that he brings an antitrust lawsuit in an attempt to upend the deal.
More than 4,000 film industry workers, including Ben Stiller, Bryan Cranston, Ted Danson, J.J. Abrams, Jane Fonda and Kristen Stewart, have signed an open letter imploring Bonta and other regulators to block the merger. The group lamented the proposed tie-up, saying it “would reduce the number of major U.S. film studios to just four.”
Opponents fear the consolidation would lead to massive layoffs and diminish the quality of programming that Warner Bros., CNN and HBO are known for.
Hollywood has sustained thousands of layoffs over the last seven years since Walt Disney Co. swallowed Fox’s entertainment assets in another huge merger. In addition, the film production economy hasn’t recovered from shutdowns during the 2023 labor strikes. An estimated 42,000 entertainment industry jobs were lost from 2022 and 2024.
On Thursday, 34 California Democrats in Congress also sent a letter to Bonta, encouraging him to look closely at the merger.
The deal is expected to become one of the largest leveraged buyouts ever.
Ballou, who is working with the press freedom groups, previously served as a Justice Department special counsel with expertise in private equity transactions.
He resigned from the Justice Department in January 2025 when Trump returned to office. In his book, “Plunder: Private Equity’s Plan to Pillage America,” Ballou examined large leveraged buyouts and found that many of which resulted in bankruptcies.
Kyle Loftis, who started filming street racing with a point-and-shoot camera and went on to become a pioneer in car culture media, has died, his company confirmed Wednesday. He was 43.
“We are extremely saddened to share that Kyle Loftis, the founder of 1320video, passed away last night,” the company wrote in a statement posted on social media. “We are in a state of shock.”
No cause of death has been disclosed.
The Sarpy County Sheriff’s Office and Gretna Fire Department in Nebraska responded to Loftis’ home Tuesday night, a spokesperson for the sheriff’s office said in a statement emailed to The Times.
“Loftis was declared deceased; his death is not suspicious,” the spokesperson wrote. “Out of respect for privacy, we will not be releasing further details.”
According to his LinkedIn page, Loftis attended the University of Nebraska at Omaha from 2000-2005 and earned a bachelor’s degree in management of information systems.
It was there, Loftis said in a 2023 video on his company’s YouTube channel, that his interests in car stereos and photography evolved into a passion for street racing — in particular, capturing races in still photos and on video and making that media available to fans.
“I’m a hardcore ‘car nut’ that’s taken his love for cars and turned it into the most amazing ‘job’ of my life,” Loftis wrote on LinkedIn. “Through my business, 1320Video, I’m able to experience the craziest & best automotive events (fitting my tastes) and share them with millions of people around the world!”
Back in the early days, Loftis posted his work on message boards and sold it on DVDs. For nearly 10 years after college, he worked for PayPal while building his motorsports media business on his own time. He dedicated himself to 1320Video full time starting in January 2015.
Currently, 1320Video has nearly 4 million subscribers on YouTube, more than 6 million followers on Facebook and nearly 3 million followers on Instagram.
“Kyle’s passion for motorsports inspired millions of people around the world and we will never forget what he has done to grow our beloved sport,” 1320Video wrote. “Kyle was a beam of light at every gathering… his enthusiasm, kindness, and creativeness was contagious.
“Let us pray that Kyle is in a better place.”
Garrett Mitchell — the YouTuber and stock car racer known as Cleetus McFarland — posted a tribute to his longtime friend on Facebook.
“Completely shocked about the loss of Kyle,” Mitchell wrote. “The most influential person on my life. We’re crushed. Please pray for his Mother and close friends, they need it most.”
The International Alliance of Theatrical Stage Employees is striking against “CoComelon: The Melon Patch” in protest over wages and working conditions.
The union representing crew members working on the live-action YouTube series said the workers are being overworked and that the production is understaffed.
The crew, which consists of 22 workers, recently signed cards seeking the International Alliance of Theatrical Stage Employees, or IATSE, to represent them in collective bargaining. The production’s management refused to bargain, according to the workers.
“The crew on this project experienced firsthand what working conditions can be like on a non-union production and organized for fair wages and industry-standard benefits after they started the second season,” IATSE said in a statement to The Times.
The strike began on Wednesday, halfway through the series’ shoot. The workers are currently picketing outside the Stage This studio in Sun Valley.
Moonbug Entertainment, the company behind the “CoComelon” franchise, declined to comment on the matter.
Several previous “CoComelon” productions have successfully been unionized and covered by IATSE’s contract, including the Netflix series.
Chris Roberts worked as an art director on the first season, but says he was initially offered a lower rate for season two. Though the project is non-union, he said it’s ironic to have to picket a company that makes kids’ content, as he’s unable to support his own family.
“It’s a little disheartening to be offered less money than we were paid in the first season and then have less staff, a heavier workload, and not be able to provide for my kids,” said Roberts, who has been a member of IATSE since 2016.
Warner Bros. Discovery’s impending sale has rattled Hollywood — and the company’s balance sheet as the auction’s high costs increasingly come into focus.
The New York-based media company released its first-quarter earnings Wednesday, which included a $2.9 billion loss. That amount includes $1.3 billion in restructuring expenses, including updated valuations for Warner’s declining linear cable television networks.
Contributing to the net loss was the $2.8 billion termination fee paid to Netflix in late February when the streaming giant bowed out of the bidding for Warner. The auction winner, Paramount Skydance, covered the payment to Netflix but Warner still must carry the obligation on its balance sheet in case the Paramount takeover falls apart. Should that happen, Warner would have to reimburse Paramount.
Warner also spent another $100 million to run the auction and prepare for the upcoming transaction, according to its regulatory filing.
“As we prepare for our next chapter, our focus remains on executing our key strategic priorities: scaling HBO Max globally, returning our Studios to industry leadership, and optimizing our Global Linear Networks,” Warner Bros. Discovery leaders said Wednesday in a letter to shareholders.
Warner generated $8.9 billion in revenue, a 3% decline from the same quarter one year ago, excluding the effect of foreign exchange rate fluctuations.
Its streaming services, including HBO Max, notched milestones in the quarter and 9% revenue growth to $2.9 billion. The company launched HBO Max in Germany, Italy, Britain and Ireland during the quarter.
Advertising revenue for streaming was up 20% compared to the first quarter of 2025.
The streaming unit posted a 17% increase to $438 million in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA).
Warner’s studios, primarily its TV business, had a strong quarter.
Studios revenue rose 31% to $3.1 billion, compared to the prior year quarter.
Television revenue soared 58% (excluding exchange rate fluctuations) due to increased program licensing fees to support the launch of HBO Max in international markets. Those launches also propelled the movie studio, which saw revenue increase 21%.
Video games revenue declined 30% because of lower library revenues.
Adjusted EBITDA for the studios grew $516 million (158%) to $775 million compared to the prior year quarter.
The company’s vast linear television networks saw revenue fall 9% to $4.4 billion compared to the prior year period.
TV distribution revenue tumbled 8% largely due to a 10% decrease in domestic linear pay TV subscribers.
The company also felt the loss of its NBA contract for its TNT channel, which NBC picked up. Advertising revenue fell 12%. “The absence of the NBA negatively impacted the year-over-year growth rate,” Warner said.
As the costs of the merger with Paramount come into clearer focus, the opposition has grown louder.
More than 4,000 artists and entertainment industry workers, including Bryan Cranston, Noah Wyle, Kristen Stewart and Jane Fonda, have signed an open letter warning about the dangers of the merger with Paramount. “This transaction would further consolidate an already concentrated media landscape, reducing competition at a moment when our industries — and the audiences we serve — can least afford it,” according to the letter.
“The result will be fewer opportunities for creators, fewer jobs across the production ecosystem, higher costs, and less choice for audiences in the United States and around the world.”
Adjusted EBITDA for the television networks fell 10% to $1.6 billion, compared to the prior year quarter.
Warner ended the quarter with $3.3 billion in cash on hand and $33.4 billion of gross debt.
Ted Turner, the brash media mogul who created CNN and revolutionized how Americans watched television, and who wielded his media empire and wealth to pursue liberal global causes and land conservation, has died. He was 87.
In 2018, he revealed he had been diagnosed with Lewy body dementia, a neurodegenerative disease, which had been progressing in recent years.
Turner’s outsized public persona — some called him the “Mouth from the South” for his free-wheeling trash talk — matched the Georgian’s influence on news, politics, sports and entertainment in the late 20th century. Turner repeatedly shook up established industries by invading quickly and expanding options for consumers, while railing against monolithic competitors who were less daring or nimble than his maverick Turner Broadcasting System.
Turner created the cable stations TBS and Turner Classic Movies; he owned the Atlanta Braves baseball team, the Atlanta Hawks basketball team and revitalized professional wrestling with World Championship Wrestling.
Turner was one of the first adopters of cable and satellite broadcasting technology, and for many rural Americans living beyond the tower signals of major cities, he was the first person to bring them interesting TV.
The media baron constantly generated headlines. He had a Clark Gable pencil mustache, raced sailboats, cavorted with the late communist leader Fidel Castro in Cuba, and at one point married Academy Award-winning actress and activist Jane Fonda. His wealth enabled him to become one of the largest private landowners and wealthiest philanthropists in the U.S.
July 1990 image of Ted Turner with Jane Fonda.
(Tony Duffy/Getty Images)
His crowning cultural achievement was the creation of the Cable News Network in 1980, which created the model for today’s cable news titans. The 24-hour news channel was not widely expected to be a success. All-night broadcasting had not been proven as a business model in an industry dominated nationally by corporate monoliths like ABC, NBC and CBS, where news programming was something that happened on a set schedule. And CNN’s headquarters weren’t in media centers like New York or Los Angeles, but Atlanta.
But Turner believed that “over-the-air networks would decline as audiences turned to videos and other outlets for entertainment on demand,” wrote the late journalist Daniel Schorr in a 2001 memoir.
“The network future belonged to whoever would deliver what was happening now — live news and live sports. That was why he wanted to be the first to deliver all news, all sports, all the time,” wrote Schorr, whom Turner courted to join CNN.
Within two years, CNN had more than 9 million subscribers. By the 2000s, Turner’s once far-flung idea for an around-the-clock news service had become so successful that it had attracted imitators like MSNBC (now called MS NOW) and Fox News.
“We not only became profitable, but also changed the nature of news — from watching something that happened to watching it as it happened,” Turner said of CNN in 2004. “If we needed more money for [broadcasting from] Kosovo or Baghdad, we’d find it. If we had to bust the budget, we busted the budget. We put journalism first, and that’s how we built CNN into something the world wanted to watch.”
Fox Corp. Chairman Emeritus Rupert Murdoch, who was both a rival and friend of Turner, said his “vision for 24-hour cable news transformed the media industry and gave viewers everywhere a front seat to witness history unfold. His impact as a trailblazer has left an indelible mark on our cultural landscape.”
Turner recognized the value of global distribution long before his rivals, launching CNN’s international business in the mid-1980s. He bought his first western property, The Bar-None Ranch in Montana, and would eventually become one of the nation’s largest individual landowners with nearly 2 million acres, which provide habitat for threatened species and his beloved American bison.
“Ted’s entrepreneurial spirit, creative ambition and willingness to take risks changed the media industry forever,” David Zaslav, chief executive of Warner Bros. Discovery, which owns CNN, said Wednesday in a note to employees. “He believed deeply in the power of ideas, in doing things differently and in building platforms that could inform, inspire and connect people around the world.”
Robert Edward Turner III was born in Cincinnati on Nov. 19, 1938, and raised in Georgia. A mischievous child — who later became a mischievous adult despite attending the Georgia Military Academy — he had a tough childhood at the hands of his alcoholic father, Ed.
“Ninety percent of the arguments I had with Ed were over his beating Ted too hard,” Ted’s mother, Florence Turner, recalled later.
“My dad ran an old-fashioned household and he insisted that pretty much everything had to be his way,” Ted Turner said in a 2008 memoir. “My father and I had a complex relationship but I loved him.”
The younger Turner attended Brown University but dropped out before graduating. His savings had run out, his father had stopped financially supporting his tuition, and in his final days on campus, he was suspended for bringing a woman to his dorm room, according to his memoir.
He soon joined his father’s expanding billboard advertising company, Turner Advertising, where he had been working off and on for years since childhood.
He inherited the business at the age of 24 after his father died by suicide. By then, Turner had already had years of experience , and he worked furiously to reverse his father’s recent sale of part of the company to a competitor and paid down its daunting debt, an act that presaged the empire-building to come.
While growing the business, Turner also pursued his passion for competitive sailing, which is how he met his first wife, Judy Nye, in college. It’s also how their marriage ended. Turner intentionally hit his wife’s boat during a 1963 race to keep her from passing him, and the pair, who had two children, split immediately afterward.
It was to be the first of three divorces. . “My problem is I love every woman I meet,” Turner has said. He would go on to win the America’s Cup in 1977 while expanding his father’s company into a modern multimedia conglomerate.
Leveraging the billboard business, Turner started buying local radio stations across the South in the late 1960s. In 1970, he bought the Channel 17 television station in Atlanta, competing with local network affiliates by airing old movies whose rights were affordable and picking up programming dropped by the less nimble competition. He didn’t like putting news on prime time back then — too negative — and soon picked up broadcast rights for the Braves, Hawks and other local sports.
Oct. 1998 photo of former President Jimmy Carter, right, and Atlanta Braves team owner Ted Turner, during Game 6 of the National League Championship Series in Atlanta.
(PAT SULLIVAN/AP)
The Braves were a ratings hit, and when the team flailed and went up for sale, Turner’s company became its owner in 1976. The team continued to flail but Turner boosted its profile with gimmicks such as sewing “Channel 17” on the back of a pitcher’s jersey and dressing up as the team’s batboy and manager, to the league’s disdain. Turner bought the Hawks shortly after.
Facing entrenched local network affiliates, Turner expanded his independent station’s reach across the South and then the U.S. by embracing the new technologies of cable and satellite broadcasting. Channel 17 became nationally known as the “SuperStation,” with call letters WTBS, later shortened to TBS.
The quirky Atlanta station’s local broadcasts of old movies and sports games had become national broadcasts.
Still hungry for more, Turner finally turned his attention to news programming. He launched CNN in 1980 in a desperate bid to create a national 24-hour news channel before the broadcast titans ABC, NBC and CBS — and their gargantuan budgets — could beat him to it.
“The 24/7 genre started with Ted Turner,” veteran CNN journalist Christiane Amanpour said Wednesday on CNN. “He was the original, and he made us all proud, and he made us all hopeful, and he made us all strive for his vision of a better world.”
There were some lean early years. But the nascent channel fended off an attempt by ABC to create a competitor, and critics could see the value of an ever-present news channel, even if quality was a little thin at times.
“Non-viewers of CNN are missing a lot. There are so many reasons to watch,” Los Angeles Times critic Howard Rosenberg wrote in 1986, hailing the 6-year-old channel as an “institution.” “It’s not always good, but it’s always there.”
In 1986, CNN was the only broadcaster running live coverage when the Challenger shuttle liftoff ended in disaster. In 1991, the network gave Americans a live and uninterrupted look at the invasion of Iraq. American officials held news conferences knowing that Iraqi leader Saddam Hussein was watching them on CNN.
Americans had seen images of war before, but not broadcast nonstop into their homes.
“CNN seeks to be a stethoscope attached to the hypothetical heart of the war, and to present us with its hypothetical pulse,” the French theorist Jean Baudrillard wrote, critiquing the conflict as a media spectacle. Media scholars began to wonder whether a “CNN effect” was influencing government policy. Officials found that they now had to respond much more quickly to crises unfolding on live television.
Turner was not adversarial to communist countries of the era and even tried his own version of the Olympics, called the Goodwill Games, a bit of private-sector peace-craft that brought the Soviet Union and the U.S. out of their respective Olympic boycotts and back into direct competition in the 1989s. All on television, of course.
Turner also saw professional wrestling as part of his sports portfolio, at one point trying to pit his World Championship Wrestling program against competitor Vince McMahon’s wrestling empire, then called the World Wrestling Federation. Turner similarly tried to take a bite out of MTV with the Cable Music Channel, with a promise “to stay away from the excessive, violent or degrading clips to women that MTV is so fond of putting on.”
Moralism was a Turner hallmark. Turner had started his life as a conservative — Turner had met his second wife, Jane Smith, at a 1964 fundraiser for Republican presidential candidate Barry Goldwater — and turned toward more liberal-leaning causes, such as world peace, nuclear nonproliferation and fighting climate change, later in life.
At the 1990 American Humanist Assn.’s annual convention, Turner presented his “Ten Voluntary Initiatives” — his atheistic version of the Ten Commandments — which included pledges to world peace, environmentalism, nonviolence and “to have no more than two children, or no more than my nation suggests.” He would become a major private donor to the United Nations, pledging $1 billion and launching the United Nations Foundation nonprofit.
In 1991, a year marked by the collapse of the Soviet Union, the first U.S. war against Iraq and the confirmation hearings of Supreme Court Justice Clarence Thomas, Time magazine named Turner its “Man of the Year” for his “visionary” creation of CNN, which covered those events live. He also married Fonda that year (the ceremony was reported by CNN) and his Braves narrowly lost the World Series.
Time’s honorific was also a nice bit of corporate synergy. The magazine’s parent company, Time Warner, owned about 20% of Turner Broadcasting System stock.
Turner launched the Cartoon Network in 1992, which helped introduce his then-newly acquired Hanna-Barbera characters — including Fred Flintstone, Yogi Bear and Scooby-Doo — to a new generation of viewers.
Adversaries thought that Turner’s ventures could be reckless and impulsive. Far-seeing accomplishments in national broadcasting and the creation of CNN were also paired with several expensive misadventures, including a failed attempt to buy CBS.
Turner had to unwind a purchase of the MGM film studio less than a year after buying it, though he held onto one valuable asset: The studio’s film library, which became the foundation of the Turner Classic Movies channel and, later, jewels in the Burbank-based Warner Bros. studio vault.
In 1996, Turner Broadcasting merged with Time Warner to form the world’s largest media company, marking the beginning of the end of Turner’s apex in corporate media. Time Warner’s 2000 merger with budding internet giant AOL, then the largest-ever corporate merger, ended in disaster. Turner, who had not been a key player in the negotiations and had made no secret of his disdain for that deal, was fired as an executive.
“Ted Turner was one of the rare leaders who truly changed the trajectory of an industry,” Versant Media Chief Executive Mark Lazarus, a former Turner underling, said in a statement. “I saw firsthand his willingness to take risks and his belief that media could be something bigger and more impactful.”
CNN Worldwide Chairman Mark Thompson added: “He was and always will be the presiding spirit of CNN. Ted is the giant on whose shoulders we stand.”
Turner resigned from the AOL Time Warner board in 2003, and in 2007, announced he had sold his company shares. In his later days, one of his best-known ventures was his Ted’s Montana Grill restaurant chain. His philanthropy and land conservation efforts and protection of the American bison became guide posts during his retirement years.
While CNN maintains influence in the U.S. and abroad, its TV ratings have declined in recent years — a casualty of changing consumer behavior, the rise of social media, derision from President Trump — and several ownership changes.
During the past decade, CNN has had three different corporate owners. The company is poised to be sold again, this time to billionaire David Ellison’s Paramount Skydance. That proposed merger would bring CNN under the same roof as CBS News.
“I’ve often considered and joked about what I might want written on my tombstone,” Turner said in a 2008 memoir. “At one point, when I felt like I could get out of the way of the press, ‘You Can’t Interview Me Here’ was a leading candidate. … These days, I’m leaning toward, ‘I Have Nothing More to Say.’”
Turner is survived by his five children — Laura Turner Seydel (Rutherford), Robert Edward “Teddy” Turner IV (Blair), Rhett Turner, Beau Turner, Jennie Turner Garlington (Peek) — 14 grandchildren and a great granddaughter. The family plans a private and public service at a later date.
Pearce is a former Times reporter. Times Staff Writer Stephen Battaglio contributed to this report.
Walt Disney Co.’s theme parks and cruise line business is holding steady despite national concerns about discretionary consumer spending and higher gas prices.
The Burbank media and entertainment giant’s experiences division reported $9.5 billion in revenue in its fiscal second quarter, up 7% compared with the same period a year ago.
The increase was due to higher guest spending at Disney’s domestic parks and experiences, which reported a 6% bump in revenue to $6.9 billion, and more capacity on the company’s cruise line with the introduction of two new ships. The segment saw a 5% increase in operating income to $2.6 billion for the three-month period that ended March 28.
Disney’s theme parks segment was under close scrutiny given the national conversation about rising consumer costs and gas prices due to the U.S.-Iran war. Analysts had wondered whether consumers would tighten their belts and forgo vacations given the higher travel costs.
Disney did see a 1% decline in attendance at its U.S.-based parks compared with the prior year, which the company attributed to “continued softness” in international visitors, but said it was starting to move past those issues. Company executives have previously said Disney pivoted marketing and promotional efforts to attract local visitors.
Though the heightened economic uncertainty around the world could have a “potential impact” on the business, Disney Chief Executive Josh D’Amaro and Chief Financial Officer Hugh Johnston said in a shareholder letter Wednesday that the company was “encouraged by current demand.” The company expected that fiscal third-quarter domestic attendance numbers would improve, they wrote.
The company’s overall earnings were powered by its entertainment business, which posted revenue of $11.7 billion, up 10% compared with the prior year’s quarter.
That growth was driven by big gains for Disney’s streaming services — Disney+ and Hulu — which raked in nearly $5.5 billion in revenue, an increase of 13% compared with 2025, thanks to higher subscription fees from user growth and more advertising revenue. Operating income for the streaming business jumped 88% to $582 million.
Disney’s entertainment segment also had a stronger quarter at the theatrical box office, with standout performances from 20th Century Studios’ “Avatar: Fire and Ash,” the animated sequel “Zootopia 2” and Pixar’s “Hoppers.”
Overall, the company reported $25.2 billion in revenue, a 7% bump from the prior year. Income before income taxes totaled $3.4 billion, an increase of 9% compared with the same period in 2025, while operating income rose 4% to $4.6 billion. Earnings per share, excluding certain items, was $1.57, compared with $1.45 a year earlier.
Disney’s sports segment, which includes ESPN, reported revenue of $4.6 billion, a 2% increase from the same period in 2025. It brought in operating income of $652 million, a 5% slide that the company attributed to higher sports rights costs and the absence of UFC pay-per-view revenue compared with last year.
Disney also alluded to the company’s view of artificial intelligence as a “meaningful long-term opportunity,” saying it could play a role in content creation and production, monetization, workforce productivity, consumer and guest experiences and enterprise operations.
“At the same time, we are committed to implementing AI in a way that keeps human creativity at the center of everything we do and respects creators and the value of our intellectual property,” D’Amaro and Johnston said in the shareholder letter.
After noting OpenAI’s closure of the text-to-video AI tool Sora, which Disney had planned to invest in, D’Amaro and Johnston said the company will “continue to explore” commercial opportunities with OpenAI and other companies.
Federal Communications Commission Chairman Brendan Carr has shown an ability to make a lot of noise at the government agency known in recent years to be a little sleepy.
But his April 28 announcement that the Walt Disney Co.’s eight ABC TV stations will undergo an early review of their broadcast licenses is his loudest action yet taken on behalf of President Trump, who repeatedly threatened media outlets that he believes are critical of him.
Carr is calling for the review two years before any of the station licenses are up, citing the agency’s inquiry into Disney’s diversity, equity and inclusion policies and whether they violated federal anti-discrimination rules.
The timing of Carr’s move is raising eyebrows as it comes after First Lady Melania Trump’s call for the firing of ABC late-night host Jimmy Kimmel over his April 23 comedy bit on the White House correspondents’ dinner. A tuxedo-clad Kimmel called Melania Trump “beautiful,” saying she had “the glow of an expectant widow.”
The first lady’s remarks came after a man armed with a shotgun, handgun and several knives breached security at the Washington black-tie event on April 25. The suspect, Cole Tomas Allen of Torrance, was arrested and faces three criminal charges, including attempting to assassinate the president.
Kimmel’s gag became ammunition for right-wing commentators, who claim the left is stoking political violence.
The host said the joke was about the age difference between the 79-year-old president and his wife. Kimmel denied it was a call for violence and has continued to mock the president on his show.
Carr insisted at a Washington news conference last week that his demand for a review is not related to Kimmel’s remarks.
Although many are skeptical, Carr, who was at the April 25 dinner, told The Times there would be an action related to ABC coming soon. The conversation occurred hours before the shots were fired.
The investigation into Disney’s practices began in March 2025, part of a broader effort by the Trump administration to reverse DEI initiatives across private companies, federal agencies, universities and other organizations.
After the 2020 police killing of George Floyd in Minneapolis, which spurred the Black Lives Matter movement, companies such as Disney and NBC-owned Comcast aggressively promoted their diversity efforts.
But experts believe Carr is acting on ABC at the behest of Trump, as the chairman has often expressed support on social media whenever the president criticizes one of the broadcast TV news outlets.
“It might be the case that Disney can get some early relief by saying this should be dismissed because this is really a 1st Amendment issue,” said James Speta, a professor at the Northwestern University School of Law. “We all know what’s going on here — the administration doesn’t like the speech that’s coming out of the talent on the broadcasting airwaves.”
Disney is not commenting on Carr’s DEI investigation, but it earlier defended the record of its TV stations, which are ratings leaders in most markets. “We are confident that record demonstrates our continued qualifications as licensees under the Communications Act and the First Amendment and are prepared to show that through the appropriate legal channels,” the company said.
Here’s a primer on what to know and the challenges Disney may face.
Why are TV stations licensed by the government?
Government licensing regulates the spectrum allocated to broadcast channels, largely to prevent interference between TV signals. When renewals come up, the license holder must demonstrate that the station is serving the public interest by providing local news, program diversity and educational and informational shows for children. The procedure once occurred every three years, but deregulation efforts have extended that period to the current span of eight years.
When was the last time a TV station faced a significant license renewal challenge?
The most notable recent example was Fox Corp.’s Philadelphia station WTXF, which was up for a license renewal in October 2023. Activist groups filing the challenge said Fox was unfit to own the outlet after a judge ruled earlier that year that the company’s Fox News Channel had spread falsehoods about voter fraud in the 2020 election.
Fox News, which operates on cable and satellite and is therefore not subject to FCC control, has a different management team than the parent company’s local TV stations, which mostly cover their communities and do not typically present political commentary. The FCC rejected the renewal challenge in January 2025, noting that none of the false information on Fox News was heard on the Philadelphia station. WTXF was not cited in Dominion’s lawsuit.
Are there any other examples?
Yes. Other White House administrations have threatened to pull TV station licenses in response to negative news coverage. At the height of the Watergate scandal in the 1970s, Richard Nixon’s allies unsuccessfully attempted to challenge the TV licenses of three stations then owned by the Washington Post.
Has a company ever lost its broadcast license?
RKO General, a unit of the General Tire and Rubber Co., was the last company to lose broadcast TV station licenses in 1987, including Los Angeles outlet KHJ. The case was related to corporate malfeasance and not broadcast content on the stations.
The process to revoke the RKO licenses took seven years from the moment the FCC voted in favor of the move.
But isn’t this case different?
Yes. Although the rule Carr mentioned is legitimate, the FCC has rarely if ever acted on it, according to one veteran TV executive who was not authorized to speak publicly on the matter. If Disney or any other company was found to violate the nondiscrimination rule, they would in previous eras probably be subjected to a just a fine, not the denial of a license, which would be viewed by many as government censorship.
What happens in the event that ABC licenses are not renewed?
Nothing immediately, as the licenses are in effect through 2028 to 2032, depending on the outlet. If Disney had to sell the stations, the price would probably be depressed due to pressure to unload the properties.
But public communications attorney Andrew Jay Schwartzman told The Times last month that the bar for denying a renewal is high and any effort would be tied up in court on constitutional grounds.
“The law intentionally sets out a very steep burden for the FCC to deny a license renewal; the process takes many years, during which time the licensee continues to operate normally under ‘continuing operating authority,’” Schwartzman said.
Paramount Skydance Chairman David Ellison defended his commitment to release 30 movies a year once his media company swallows Warner Bros. Discovery — a goal that some industry observers view as overly ambitious.
During a Monday call with analysts to discuss Paramount’s first-quarter earnings, the tech scion said the target was achievable because his management team would maintain current levels of production. Paramount has doubled its film release capacity to 15 films this year, matching the number of theatrical releases planned by competing Warner Bros.
“The two companies are actually making 30 films to date,” Ellison said. “We really view our pending acquisition of Warner Bros. Discovery as a powerful accelerant to our strategy.”
The company said it was on track to finalize its Warner takeover by the end of September. The $111-billion deal would transform the smaller Paramount into an industry titan with prestigious programming, including Harry Potter, “Game of Thrones,” “Euphoria,” as well as its current slate of Taylor Sheridan-produced franchises, including “Yellowstone” and “Landman.” The combined company also would own dozens of popular TV networks, including CBS, CNN, Comedy Central, Food Network and HGTV.
But the proposed merger would saddle the combined company with $79 billion in debt, stoking fears that Paramount would need to make steep cost cuts to balance such a large debt load. During the quarter, Paramount lined up banks and other institutional investors to provide bridge financing to help pull off the transaction, the company said.
“We’re pleased with the momentum and will continue to take the necessary steps to bring this deal to completion,” Ellison told analysts.
Late last month, Warner Bros. Discovery stockholders overwhelmingly voted in favor of the deal, which will pay $31 a share to Warner investors. The company now must secure regulatory approvals in the U.S. and abroad, and that process is well underway, Paramount said.
Paramount has asked the Federal Communications Commission for permission to exceed a cap on foreign ownership for U.S. media companies. Ellison’s company is expecting $24 billion from three Middle Eastern royal families, who would become part owners of the combined entity. Those total funds will represent about 49% of equity in that new company, exceeding the current foreign ownership cap of 25%.
More than 4,000 filmmakers, actors and industry workers, including Bryan Cranston, Connie Britton, Kristen Stewart, Jonathan Glazer and Jane Fonda, have signed an open letter asking California Atty. Gen. Rob Bonta and other regulators to block the deal, saying it “would reduce the number of major U.S. film studios to just four.”
Late last week, a small group of consumers sued to block Paramount Skydance’s acquisition of Warner Bros. Discovery and unwind Ellison’s Skydance Media’s takeover of Paramount, alleging that both deals reduce marketplace competition.
For the January-March quarter, Paramount’s earnings beat Wall Street’s expectations. Revenue grew 2% to $7.3 billion compared with the first quarter of 2025.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) reached $1.1 billion, helped in part by growth in its streaming services unit. Paramount+ increased its revenue by 17% to nearly $2 billion, compared with the year earlier period when it generated $1.7 billion. The service added 700,000 subscribers, bringing the total to nearly 80 million.
With Warner’s HBO Max streaming platform, the combined service would boast more than 200 million subscribers.
Paramount reported first-quarter net earnings of $168 million, or 15 cents per share, compared with $152 million in 2025, which occurred before Skydance acquired the media company in August.
Executives pointed to “Scream 7,” a late February release that has topped $200 million in global ticket sales, as a success story. Studio revenue grew 11% to $1.28 billion for the quarter.
Television networks revenue declined 6% to $3.7 billion as Paramount’s cable channels continue to contend with the loss of cable cord-cutters, which reduces the company’s collections from pay-TV providers. Nonetheless, Paramount pointed to the strength of Sheridan’s “Landman,” starring Billy Bob Thornton, Ali Larter, Sam Elliott and Demi Moore, and the strength of the CBS television network, which currently has 13 of the broadcast industry’s top 20 prime-time shows, including “60 Minutes,” “Marshals,” and “Tracker.”
The company told analysts it would achieve $30 billion in revenue for the full year and $3.8 billion in adjusted EBITDA. Paramount said it would also make $2.5 billion in cost-cuts by the end of this year and reduce expenses by $3 billion in 2027.
Paramount said it ended the quarter with $1.9 billion in cash and cash equivalents. It also was carrying $15.5 billion in debt. The company had to draw $2.15 billion from its revolving credit facility to pay Netflix a $2.8-billion termination fee that Warner Bros. Discovery had agreed to pay under a previous deal to sell the company to Netflix.
Paramount released its earnings after Monday’s trading day. Its shares closed at $11.13, basically unchanged.
WEST PALM BEACH, Fla. — Spirit Airlines, an impish upstart that shook the industry with its irreverent ads and deep discount fares, announced Saturday that it has gone out of business after 34 years.
The ultra-low-cost airline that once operated hundreds of daily flights on its bright yellow planes and employed about 17,000 people said it had “started an orderly wind-down of our operations, effective immediately.”
Although Spirit had gone bankrupt twice before, the company said high oil prices, which have been rising because of the U.S.-Israeli war with Iran, made it impossible to stay aloft.
The airline said on its website that all flights have been canceled and customer service is no longer available.
“We are proud of the impact of our ultra-low-cost model on the industry over the last 34 years and had hoped to serve our guests for many years to come,” the announcement said.
U.S. Transportation Secretary Sean Duffy said Saturday that Spirit had a reserve fund set up for customers who bought directly from the airline to get refunds. People who bought from third-party vendors such as travel agents would have to seek refunds from them. He had a stark message for people flying with Spirit.
“If you have a flight scheduled with Spirit Airlines, don’t show up at the airport. There will be no one here to assist you,” Duffy said.
He said United, Delta, JetBlue and Southwest were offering $200 one-way flights for people who could confirm that they had Spirit confirmation numbers and proof of purchase for a limited time. Duffy also said other airlines would help with Spirit employees who might be stranded and would offer them a preferential application process as they look for work.
Spirit said in a statement that it was working to get more than 1,300 crew members to their home bases and that the final Spirit flight landed early Saturday at Dallas Fort Worth International Airport from Detroit Metropolitan Airport.
The company advised customers that they could expect refunds but there would be no help in booking travel on other airlines.
The Trump administration had considered a government bailout for the cash-strapped business to keep it from going under, but a deal was not reached. Of the potential bailout, Duffy said Saturday that “we oftentimes don’t have half a billion dollars laying around.”
President Trump had floated the idea of a bailout last week after the airline found itself in bankruptcy proceedings for the second time in less than two years with jet fuel prices soaring since the start of the Iran war.
‘They get you there’
Five Spirit flights were still showing as “on time” on Saturday morning on the departure board in Atlanta. A trickle of passengers who hadn’t heard the news were still showing up.
“What!?” exclaimed Taylor Nantang as she, her husband and four children arrived for a Saturday afternoon Spirit flight from Atlanta to Miami for a spur-of-the-moment vacation. The family had driven down from Tennessee to the Atlanta airport.
“So the whole airline at every airport is out of business?” asked Nantang. “Oh my, that’s crazy.”
Other passengers wondered whether the airline would still answer its customer service phone, or when the refunds for canceled flights might arrive on their credit cards.
Joshua Sigler, who had bought a ticket Friday for a flight Saturday to Miami, said he would just return home after learning of the cancellation rather than try to take advantage of deals other airlines were offering to stranded Spirit passengers. He said he had gotten no communication from Spirit, which he had flown multiple times in the past.
“They get you there,” he said of his Spirit travels. “It was cheap.”
Waking to the news
Former Spirit flight attendant Freddy Peterson was on a Spirit flight from Detroit that arrived in Newark, N.J., around 11 p.m. Friday. He said that despite rumors flying on social media Friday, things seemed kind of normal, with more than 200 passengers on the plane.
“All our aircraft were packed,” he said.
Peterson, 60, said he set his alarm clock for 3 a.m. Saturday to check the company website at the hour of the rumored shutdown and learned all Spirit flights were canceled. He said Delta Air Lines brought him and another flight attendant back to Atlanta on Saturday morning, with Peterson leaving from there to drive to his home in Shellman in southwest Georgia.
“I’ll probably do my boo-hoo crying and all that other stuff once I get in the car.”
Peterson said he had been a flight attendant with Spirit for 10 years and the company has “done wonders for me.” He said the airline’s reputation for bargain-basement chaos was largely undeserved, but he did fault management for not communicating with the employees in the closing days, saying a promised employee town hall was canceled.
Bailout fizzles
As late as Friday afternoon, Trump had said his administration was looking at a bailout for Spirit and had given the budget carrier a “final proposal” for a taxpayer-funded takeover.
Spirit proudly disrupted the penny-pinching portion of the airline industry with its no-frills, low-cost flights and provocative ads like its “Check Out the Oil on Our Beaches” campaign after the Deepwater Horizon disaster in 2010, referencing suntan oil but alluding to the massive spill of crude along the Gulf Coast.
But Spirit has struggled financially since the COVID-19 pandemic, weighed down by rising operating costs and growing debt. By the time it filed for Chapter 11 protection in November 2024, Spirit had lost more than $2.5 billion since the start of 2020.
The budget carrier sought bankruptcy protection again in August 2025, when it reported having $8.1 billion in debts and $8.6 billion in assets, according to court filings.
White House blames Biden
The White House had blamed the Biden administration for Spirit’s tenuous financial situation, noting that President Biden opposed a proposed merger between Spirit and JetBlue in 2023. On Saturday, Trump administration officials took to social media to amplify voices of conservative critics who faulted that decision.
On Saturday, Duffy concentrated blame on Biden as well as Duffy’s predecessor, Pete Buttigieg. “Many at the time said that this was a disaster. This merger should have been allowed,” he said.
Tad DeHaven, a policy analyst at the Cato Institute, a libertarian think tank, said the Trump administration also bears responsibility, arguing that the airline’s latest crisis reflected a chain reaction of policy missteps rather than a single decision. He pointed specifically to Trump’s decision to strike Iran as “bad foreign policy,” noting the conflict drove up jet fuel prices and therefore Spirit’s operating costs.
“They were already in trouble,” DeHaven said, describing the situation as “a compounding effect in terms of policy.”
Supporters of a rescue including labor unions representing Spirit’s pilots, flight attendants and ramp workers said a collapse would put thousands of Americans out of work and hurt consumers by reducing airline competition and increasing airfares. About 17,000 jobs could be impacted, according to Spirit lawyer Marshall Huebner.
Budget-conscious and leisure travelers are likely to feel Spirit’s absence the most, especially in places where the airline has a big footprint such as Las Vegas and the Florida cities of Fort Lauderdale and Orlando.
The carrier flew about 1.7 million domestic passengers in February, roughly half a million fewer than during the same month a year earlier, according to aviation analytics firm Cirium. Spirit also has sharply reduced its capacity; about half as many seats had been available this month as in May 2024.
Madhani, Yamat, Amy and Catalini write for the Associated Press and reported from West Palm Beach, Las Vegas, Atlanta and Morrisville, Pa., respectively. AP writer Josh Funk in Omaha contributed to this report.
A TOP travel company has launched a new guarantee for customers that allows them to get a refund the same day their flight is cancelled.
On The Beach has launched a new initiative for travellers this summer, where, if their flight is cancelled, they will get a refund on the same day.
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The holiday package provider is the first to offer ‘Cancelled Flight Cover’, and it is included on all On The Beach packages.
The perk will come into play if your flight is either cancelled or rescheduled by 12 hours or more, with On The Beach first trying to find you the “next best flight”.
If this is not possible or you don’t want the alternative flight, a refund will be processed on the very same day for your flight, hotel and any extras you booked.
It comes as airlines and travellers face uncertainty this summer, with possible cancellations across Europe due to fuel supply concerns.
Some airlines are already cutting flights but other providers usually take up to 14 days to refund customers.
Caspar Nelson, holiday expert at On the Beach, said: “Holidaymakers deserve certainty, especially when disruption strikes.
“We’re proud to be the first package holiday provider to commit to same-day refund processing for cancelled flights, giving customers the confidence to book knowing we’ve got their back when it matters most.
“If the worst happens and a flight is cancelled, we’ll move quickly to either find a new route or return every penny of their holiday money that same day.
“This means they can get a new break booked, make alternative plans fast, and get back to looking forward to their summer instead of worrying about it.”
Audacy’s Los Angeles news radio station KNX is ending its simulcast on 97.1 FM, which will move to a sports talk format on May 11.
The New York-based audio company announced Tuesday that the frequency will be re-branded as the Fan, becoming the first all-sports FM station in the Los Angeles market.
Sports talk listeners are currently served by KLAC, an AM station co-owned by iHeartRadio and the Dodgers, ESPN LA 710, and KLAA at 830 AM, owned by the Los Angeles Angels.
KNX will continue its all-news format on its AM frequency 1070. The station will also be heard on 97.1 HD2, mostly available in vehicles equipped with digital radios.
Chris Oliviero, chief business officer for Audacy, said the moves are aimed at providing more local content to listeners in the Los Angeles market. The Fan will be stocked with on-air talent well-versed in the area’s teams.
“We’re going to be providing twice as much original local L.A. content than we were previously,” Oliviero said. “We are taking these two broadcast frequencies, and getting more out of them.”
KNX’s news format benefited from the FM simulcast, with its share of the audience up more than 25% since it began in December 2021. Oliviero said Audacy remains committed to the format, which has a significant number of listeners through the station’s app and other streaming platforms.
Audacy has a proven track record in sports talk radio, which is attractive to advertisers. Los Angeles was the only top 10 market where the company did not have a station carrying the format.
Oliviero noted that the upcoming sports calendar that includes the 2026 World Cup and the 2028 Summer Olympics in Los Angeles will likely drive up listener appetite for the station.
The Fan will launch without any live play-by-play of Los Angeles teams. KLAC has the audio rights to the Dodgers, the Clippers of the NBA, the Chargers of the NFL and UCLA football.
Oliviero said Audacy will look at acquiring audio rights to Los Angeles teams as they become available. He noted that the Fan will carry local hosts during daytime hours when KLAC offers syndicated hosts Dan Patrick and Colin Cowherd. KLAC has a popular local team, Petros and Money, in the afternoon, and a Dodgers-focused talk show in the evening.
In addition to KNX, Audacy owns classic hits station KRTH-FM (101.1), rhythmic hits outlet KTWV-FM (94.7), adult hits station KCBS-FM (93.1) and KROQ-FM (106.7), which has an alternative rock format. The stations broadcast out of studios on the Miracle Mile.
Audacy has owned KNX since 2017, when it merged with the radio division of CBS Corp. The company was known as Entercom at the time of the transaction.
