Disney delays ‘Deadpool’ sequel, ‘Blade’ and other films in post-strike shuffle
Walt Disney (DIS) has announced changes to its movie release schedule due to the recent four-month actors’ strike. The next “Deadpool” instalment, originally set for a May release, will now hit theatres in late July, resulting in the rescheduling of “Captain America: Brave New World” to February 2025. Additionally, the release of “Thunderbolts” has been postponed to July 2025, and “Blade” to November 2025.
The 118-day actors’ strike had halted production for scripted TV shows and films. Following a tentative labour agreement reached on Wednesday, studios and actors are now collaborating to complete their unfinished projects.
Beyond the Marvel franchise, Disney has decided to push the debut of “Mufasa: The Lion King” to December 2024, a delay of five months from the original schedule.
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Source: TradingView, Reuters, Disney
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Amazon and Roomba-Parent iRobot Scrap $1.4 Billion Merger Deal
Amazon and iRobot have abandoned their $1.4 billion merger due to resistance from EU and U.S. antitrust regulators. iRobot, facing financial challenges, announced a comprehensive restructuring plan, including cutting 31% of its workforce (around 350 jobs), and its founder, Colin Angle, resigned as CEO. Angle cited the need for new leadership amidst challenges. Amazon’s proposed acquisition lacked a viable path to regulatory approval in the EU, with concerns raised by Margrethe Vestager, the EU antitrust chief, about potential anti-competitive actions.
Vestager highlighted actions Amazon could take, such as delisting rival products and increasing costs for iRobot’s competitors on its marketplace. The Federal Trade Commission (FTC) planned to recommend suing and blocking the acquisition, with a final meeting scheduled for Monday. Amazon, disappointed by the outcome, expressed confidence in the future of consumer robotics. iRobot, based in Bedford, Massachusetts, expects a 25% reduction in 2023 revenue to $891 million, with a loss between $265 million and $285 million. Amazon will pay iRobot a $94 million termination fee.
Amazon, with a mixed record with regulators, faces a prolonged court battle with the FTC over alleged illegal strategies. Following the news, iRobot shares fell 7.2%, while Amazon shares rose nearly 1%. Critics feared the merger would strengthen Amazon’s dominance in the smart home devices market.
Not financial advice. Investment involves risk.
Source: TradingView, Reuters
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