What financial reports reveal on entertainment
At a glance, what financial reports reveal about entertainment companies
Companies providing entertainment content have begun to release their earnings reports for the latest quarter. Here's a look at reports and related developments for selected companies.
— June 28: News Corp. completes split into two companies. The movie and TV division is renamed 21st Century Fox Inc., while the publishing business retains the News Corp. name.
— July 12: The parent companies of ABC, NBC and Fox say they will stay owners of Hulu, while providing a cash infusion of about $750 million to ensure future growth. The owners had accepted formal bids for the online video service. The announcement suggests the bids were too low. 21st Century Fox President Chase Carey says this is the "best path forward" for Hulu.
— July 18: Netflix's "House of Cards" makes Emmy history with a top drama series nomination, the first time that television's leading awards have recognized a program delivered online as equal in quality to the best that TV has to offer.
— July 22: Netflix Inc. says its second-quarter earnings more than quadrupled, but the Internet video service didn't add as many U.S. subscribers as many investors hoped with the much-anticipated revival of the comedy series "Arrested Development." Netflix Inc. picked up 630,000 U.S. subscribers during the three months ending in June. That was above the mid-range of Netflix's forecast calling for a gain of 230,000 to 880,000 U.S. subscribers. Yet its stock fell.
Coming up:
— July 31: CBS Corp., Comcast Corp. (owner of NBC, Universal movie studio), DreamWorks Animation SKG Inc.
— Aug. 2: Viacom Inc.
— Aug. 6: The Walt Disney Co. (owner of ABC), 21st Century Fox
— Aug. 7: Time Warner Inc.
