Netflix founder and executive chair Reed Hastings has gifted 2 million shares, worth over $1.1 billion at the stock’s current price, to the Mountain View, California-based Silicon Valley Community Foundation, Deadline has confirmed. The move was noted in a recent SEC filing without the beneficiary named. The donation was a big chunk of Hastings’ Netflix stock — about 40%. He still owns 2,991,541 shares, the filing said. The stock has been having a great run and closed today at $575.08.   Hastings had a ne ...

Disney has proposed investing at least $1.9 billion into the Disneyland Resort over the next few decades, and will provide Anaheim millions more for housing and parks in a development agreement presented to the City Council. The proposal is called DisneylandForward and still needs to go through several more meetings with Anaheim officials before its conclusion. No details on what Disney will do have been revealed as of yet. But the broad strokes mean the company would have flexibility to choose where it b ...

Microsoft is laying off about 1,900 people in its gaming division following the closing of its acquisition of Activision Blizzard. In a memo sent to employees today, the company said the move was to address “areas of overlap.” Blizzard President Mike Ybarra is also leaving. In a post on X, Ybarra called it “an incredibly hard day.” His post said: “I want to thank everyone who is impacted today for their meaningful contributions to their teams, to Blizzard, and to players’ lives. It’s an incredibly hard day ...

Netflix added a far-better-than-expected 13 million subscribers to reach 260.3 million globally as of the end of 2023. The company missed earnings per share forecasts and barely edged Wall Street expectations for total revenue as it faced tricky comparisons with the year-ago quarter and continued impact from a recent price increase. Wall Street analysts had predicted the company would add between 8 million and 9 million subscribers in the period. Their consensus called for revenue of $8.71 billion and EPS ...

Sheryl Sandberg, Mark Zuckerberg’s longtime number two who stepped down as COO in 2022, said today she’s also leaving the board of . Sandberg was one of the highest-ranking women in the business and tech world as chief operating officer of , then Meta, which she joined in 2008. While there, she authored the 2013 bestselling Lean In: Women, Work, and the Will to Lead.  “With a heart filled with gratitude and a mind filled with memories, I let the Met board know that I will not stand for reelection this May, ...

Amazon MGM Studios is to open a production hub at Pinewood Toronto Studios in Canada. The streaming production giant unveiled an agreement with the studio for exclusive use of production facilities in downtown Toronto at a ribbon-cutting event today. Ontario Premier Doug Ford and Toronto Mayor Olivia Chow attended the ceremony. The multi-year agreement includes use of five new state-of-the-art sound stages, accompanying workshops and office accommodation, totalling approximately 160,000 square feet. Financ ...

More than 2,600 flights were canceled nationwide Friday and more are expected today because of Midwest storms and inspections that have taken many Boeing 737 planes offline The Midwest is being hard hit by snow, with blizzard warnings issued on Friday for the Midwest and Great Lakes. Days ahead of Monday’s Iowa caucuses, the National Weather Service in Des Moines is urging drivers to stay off the roads. Chicago was the biggest pain point for travelers, with hubs Dallas and Denver close behind. A Chicago g ...

Powered by its artificial intelligence assets, Microsoft has leapfrogged Apple to become the most valuable public company. According to Bloomberg, Microsoft’s market value finished the week at $2.88 trillion, compared with Apple’s $2.86 trillion. Over the past year, Microsoft has added about $1 trillion in value, as fascination with generative AI (a major point of contention in Hollywood’s dual strikes) increased. Shares in Microsoft finished Friday’s trading at $388.47, up 1% and near an all-time high. Ap ...

Amazon‘s gamer-centric streaming outlet Twitch is laying off 500 staffers, CEO Dan Clancy told employees in a memo this morning. The move is being made in sync with cutbacks at corporate siblings Prime Video and Amazon Studios. Bloomberg had reported the layoffs at Twitch on Tuesday. Clancy said the news had “leaked,” suggesting that the Amazon division had to hold off on confirming any details or answering employee questions in order to co-ordinate today’s announcement with that of the other divisions. Cl ...

Apple‘s ultra-high-end gadget, the Vision Pro, will be available online and at U.S. Apple Stores starting February 2, the company has announced. The $3,500 virtual reality device was unveiled last year, taking up a large portion of the company’s annual September tubthump for new products and technology. While sales of VR headsets have generally been sluggish across the industry in recent years, Apple has made the claim that its take is wholly unique. The Vision Pro’s main lens adjusts to lighting and user ...