Rice

Netflix replaced one of its top executives in a major management shake-up on Thursday, a day after the company announced it was laying off 6% of its staff.

Chief Content Officer Bela Bajaria is leaving the company after a decade, Netflix said in a statement. She will be replaced by former Disney executive Peter Rice, who was most recently chairman of Walt Disney Television and chairman of general entertainment for Walt Disney Co.

“Peter is one of the most effective at-scale operators in the entertainment industry,” Netflix Co-Chief Executive Ted Sarandos said in the statement. “His business acumen is sharp, his talent relationships are exceptionally strong, and his experience across TV and film is deep and broad.”

Bajaria’s exit comes as Netflix has been under pressure from investors to turn out more hit shows and movies and increase the amount of time consumers spend on the platform amid rising competition from other streamers.

“Due to the slowdown in massive hits and viewer growth, an ax was gonna fall on some executives who led content strategy,” said Ross Benes, senior analyst at research firm Emarketer.

Bajaria oversaw the teams responsible for Netflix content around the world. She joined Netflix in 2016 and was named chief content officer in 2023. She was instrumental in expanding Netflix’s reach internationally and the streamer’s push into live events.

Hits released on Netflix during Bajaria’s tenure include the 2025 animated movie “KPop Demon Hunters” and crime drama series “I Will Find You.” Under her leadership, Netflix grew its reach in live programming, streaming NFL games as well as WWE matches. The company also changed its film strategy to focus on fewer movies that aimed to be bigger and better.

She also played a key role in helping Netflix generate large audiences for its non-English-language original series, reality shows and programs that featured talent from underrepresented communities.

But her tenure also coincided with mounting challenges to growing Netflix’s business.

Free, ad-supported streaming services like YouTube are increasingly taking up more streaming hours and investors are concerned about how Netflix will continue to grow. YouTube represented 14.2% of streaming time in the U.S. on TVs compared to Netflix’s 7.8% in July, according to Nielsen data.

Netflix has said efforts like live programming have been successful at getting significant subscription sign-ups. While live programming represents 5% of Netflix’s content budget, it holds 1% of watch time on the streaming service, Sarandos has said.

The company also was poised to buy Warner Bros. Discovery, which would have dramatically increased its library of content, but Netflix bowed out of the auction after the price became no longer “financially attractive.”

Netflix stock has declined 40% from a year ago. Shares closed Thursday at $72.61, up 3%.

“The drop in share price has been staggering,” said Stephen Galloway, dean of Chapman University’s Dodge College of Film & Media Arts. “That plunge, plus the negative reaction to its move to buy Warner Bros. left it vulnerable, and so you have to do two things. One is right the ship, but you also need to send a message to shareholders that you’re taking action.”

In a memo to staff announcing the change in leadership, Sarandos wrote, “I know this is a big change in a year that has already had its share. But I also see an opportunity to take our slate to the next level, especially in UCAN [U.S. and Canada] where we have an outsize impact in creating big, buzzy hits that our members love and drive conversation around the world.”

Rice is an experienced corporate executive who spent nearly three decades navigating Rupert Murdoch‘s media empire, serving as president of 21st Century Fox and CEO of Fox Networks Group.

He also brings deep roots in the feature film world, having previously run Fox Searchlight Pictures, which could mean he will want to put his own stamp on Netflix’s film group, Galloway said. That group is currently led by executive Dan Lin.

“Netflix has fundamentally changed the way stories are made, shared and experienced around the world,” Rice said in a statement. “They’ve shown again and again that they’re willing to take chances on distinctive voices and fresh ideas, and I’m excited to work with the team to help bring even more great stories to members everywhere.”

Bajaria did not respond to a request for comment.

Declan Rice is close to agreeing a new long-term Arsenal contract, sources have told BBC Sport.

The England midfielder has become a crucial player for the Gunners since his arrival from West Ham for £105m in July 2023.

His current deal expires at the end of next season but BBC Sport revealed in March that talks over a new contract were under way with the process now at an advanced stage.

The 27-year-old has made 165 appearances for Arsenal and helped the club end their 22-year wait for a Premier League title last term.

Rice would receive a significant increase to his reported £240,000-per-week salary, putting him on a par with the club’s best earner Bukayo Saka, who is believed to be paid about £350,000 a week.

While Rice withdrew from Thomas Tuchel’s England squad before the recent three-week camp, he has amassed 80 caps since switching his international allegiance from the Republic of Ireland in 2019.

Tuchel has also previously lauded him one of the “best midfielders in Europe”.

Rice is expected to be involved for Arsenal when they host Leeds in the English top flight on Saturday (12:30 BST).

The news comes after Arsenal boss Mikel Arteta’s new four-year deal with the Premier League champions was announced on Wednesday.

Manchester United and Liverpool keen on Crystal Palace defender Tyrick Mitchell, Aston Villa loan attacker Alejandro Garnacho on the radar of clubs in La Liga, while Bayern Munich fancy Morgan Gibbs-White.

Crystal Palace‘s English left-back Tyrick Mitchell, 27, is attracting growing interest from Manchester United and Liverpool. (Teamtalk), external

Aston Villa attacking midfielder Alejandro Garnacho is being monitored by clubs in La Liga after struggling to make an impression at Villa Park following his summer loan switch from Chelsea. (Mail plus – subscription required), external

Julian Ward is set to be reappointed as Liverpool‘s sporting director. The 45-year-old will switch from his current role as Fenway Sports Group’s technical director to replace Richard Hughes in a position he previously held during the 2022-23 season. (The Athletic), external

Bayern Munich are interested in Nottingham Forest‘s England midfielder Morgan Gibbs-White, 26. (Talksport), external

Arsenal will use the September international break to finalise details over a new long-term contract for England midfielder Declan Rice, 27. (Football Transfers), external

The Gunners have the option to extend Rice’s current deal by 12 months but would like to tie him to a long-term deal in keeping with the club policy towards players seen as key by Arsenal boss Mikel Arteta. (Guardian), external

Liverpool remain firmly committed to bringing the best out of Germany attacking midfielder Florian Wirtz, 23, despite the player’s representatives being sounded out by Bayern Munich. (Teamtalk), external

Chelsea are tracking highly rated Gambian 15-year-old midfielder Adama Jeng with Bayern Munich, Benfica, Sporting and Paris FC also interested in the Samger FC youngster. (Mail plus – subscription required), external

AC Milan and Roma are keen on a loan deal for Real Madrid’s 20-year-old forward Endrick if Bernabeu president Florentino Perez is willing to let the Brazilian leave. (Calciomercato – in Italian), external

Barcelona have scouted Athletico Paranaense’s 19-year-old Brazilian Arthur Dias who was the subject of previous strong interest from Tottenham. (ESPN Brasil – in Portuguese), external

Arsenal came so close to signing Brazil forward Vinicius Jr from Real Madrid in the summer that the 26-year-old’s team-mates thought it was a foregone conclusion he would join the Gunners. (Cadena SER – in Spanish), external

Tino Livramento, Kobbie Mainoo, Cole Palmer, Marcus Rashford and Declan Rice have all pulled out of England’s squad for forthcoming Nations League matches.

Nottingham Forest midfielder Morgan Gibbs-White and Everton‘s James Garner have been called into the squad by manager Thomas Tuchel and will join the squad on Tuesday.

Tuchel said on Friday that 26-year-old Gibbs-White, who has six international caps, was close to being included in the initial squad.

Palmer, 24, had been recalled by Tuchel after being controversially left out of England’s World Cup squad but has withdrawn with a minor injury.

Tuchel previously said Palmer had a “point to prove” and needed “to step up” to “keep his shirt and justify the nomination”.

The Three Lions face World Cup winners Spain at Wembley on Saturday, 26 September, then travel to the Czech Republic (29 September) and Croatia (3 October) before hosting the Czechs on 6 October in an extended international break.

Manchester United duo Rashford and Mainoo were assessed by their club after being taken off in the closing stages of Sunday’s 1-1 draw at Fulham.

Rice, who played the full game for Arsenal in their 3-0 defeat by Brighton, will also be unavailable to Tuchel, along with Livramento, who has been limited to three substitute appearances for Newcastle United this season.

The England medical department and all their counterparts at each of the clubs have agreed the five players can withdraw. No specific details have been released to the media on the nature of the injuries.