Connect with us

உலகம்

Netflix cofounder Hastings to step down after it lost Warner Bros deal

Published

on

The company’s stock plunged about 8 percent on the news of Hastings’s departure.

Netflix Chairman Reed Hastings is leaving the streaming service he cofounded 29 years ago as the company regains its footing after it lost its $72bn deal for Warner Bros Discovery to Paramount Skydance.

In a letter to investors released on Thursday, Netflix said Hastings will not stand for re-election at its annual meeting in June and plans to focus on philanthropy and other pursuits.

The company’s stock plunged about 8 percent on the news of Hastings’s departure. The cofounder is credited with helping to revolutionise how movies and television shows are delivered in homes, upending Hollywood’s business model.

“Netflix is growing revenues double-digits, expanding margins in 2026 and gushing free cash flow,” said LightShed Partners media analyst Richard Greenfield. “While the Q1 was uneventful financially, the departure of Reed Hastings has spooked investors.”

Netflix reaffirmed in a 14-page shareholder letter that its mission remains “ambitious and unchanged” – to entertain the world, providing movies and series for many tastes, cultures and languages. The company’s full-year outlook remained unchanged.

The company did not say how it plans to spend the $2.8bn termination fee it received after losing the Warner Bros movie studio and HBO, and lifted its earnings per share to $1.23 in the first quarter compared with 66 cents per share in the same quarter last year.

Revenue rose to $12.25bn, an increase of 16 percent from the year-ago period, modestly exceeding analyst forecasts of $12.18bn.

Netflix, which long told investors that a Warner Bros acquisition was a “nice to have, not need to have” proposition, highlighted areas of future growth.

The company said its investment in expanding its entertainment offerings, with video podcasts and live entertainment – such as the World Baseball Classic in Japan – is driving engagement.

It plans to use technology to improve the user experience and improve monetisation, as advertising revenue remains on track to reach $3bn in 2026 – a twofold increase from a year ago.

📰 மூல செய்தி (Source): https://www.aljazeera.com/economy/2026/4/16/netflix-cofounder-hastings-to-step-down-after-it-lost-warner-bros-deal?traffic_source=rss

உலகம்

Israel continues strikes on Lebanon despite halting attacks on Iran

Published

on

Israel continues strikes on Lebanon despite halting attacks on Iran

Israeli PM Benjamin Netanyahu acknowledged a halt in fighting with Iran, but vowed to respond “with force” to future attacks. Israel says it will continue operations in Lebanon, claiming to focus on Hezbollah targets.

📰 மூல செய்தி (Source): https://www.aljazeera.com/video/newsfeed/2026/6/9/aje-onl-nf_israel-continues-strikes-on-lebanon-halts-on-iran-080626?traffic_source=rss

Continue Reading

உலகம்

ICC prosecutor suspended pending vote on sexual misconduct claims

Published

on

Karim Khan rejects suspension as ICC governing body refers him to disciplinary proceedings before member states.

The International Criminal Court’s chief prosecutor, Karim Khan, has been suspended from his duties, the tribunal’s governing body said, following a probe into sexual misconduct allegations.

In a statement on Monday, the Bureau of the Assembly of States Parties said it will refer Khan to disciplinary proceedings before all 125 ICC member states, which will vote on his fate in a special session.

“This suspension is not an indication of the final outcome,” it said.

The bureau, which is the executive committee of the court’s oversight body, said it referred Khan after making its own decision on the disciplinary proceedings involving the prosecutor.

It said the decision was based on a report of a United Nations investigation, the advice of an ad hoc panel of judicial experts, and written submissions, but did not give details about what it had decided.

“The decision of the ⁠Bureau and the related documentation will remain confidential,” the statement said.

Khan’s lawyers ⁠said in a statement that he rejected the decision in the strongest terms, and repeated his denial of any wrongdoing.

“The decision is unlawful, procedurally unfair and unsupported by evidence,” the statement said.

Khan, 56, drew international attention when he applied for warrants against Israeli Prime Minister Benjamin Netanyahu and then-Minister of Defence Yoav Gallant for war crimes and crimes against humanity committed in Gaza.

He also sought warrants for Hamas leaders, including Yahya Sinwar, for the October 7, 2023, attack on southern Israel.

Khan was among the first to be sanctioned by Israel’s ally, the United States, which expressed outrage over the arrest warrants.

He has maintained that the misconduct probe is a politically motivated smear campaign.

According to Reuters and the Associated Press news agencies, the UN probe found a “factual basis” for the allegations of sexual misconduct made by a female aide. However, a three-judge panel selected by the executive committee for a legal assessment of the findings found that the investigation was not conclusive enough.

Khan’s lawyers had previously told Reuters that the judges had unanimously concluded that the “factual findings do not establish misconduct or breach of duty”.

Khan has not led the ICC’s Office of the Prosecutor since ⁠last May, when he took a voluntary leave of absence pending the outcome of the inquiry.

He is the first ICC prosecutor to be formally suspended from his role by the court’s oversight body.

Only the Assembly of States Parties has the authority to remove Khan from office, a move that would require a majority in a secret ballot of its 125 member states.

Sixty-three countries would need to support a measure to remove him.

No date was immediately set for the session.

Khan’s suspension will have little practical impact on the functioning of the court, given his existing leave of absence.

He has already been removed from pleading in the ICC’s most high-profile current case, against former Philippine President Rodrigo Duterte.

📰 மூல செய்தி (Source): https://www.aljazeera.com/news/2026/6/9/icc-prosecutor-suspended-pending-vote-on-sexual-misconduct-claims?traffic_source=rss

Continue Reading

உலகம்

UN questions legality of Israeli forced evacuation orders in Lebanon

Published

on

UN questions legality of Israeli forced evacuation orders in Lebanon

A UN spokesman says forced evacuation orders issued across southern and eastern Lebanon are nearly impossible to follow safely, and calls into question whether Israel is complying with international humanitarian law.

📰 மூல செய்தி (Source): https://www.aljazeera.com/video/newsfeed/2026/6/9/un-questions-legality-of-israeli-forced-evacuation-orders-in-lebanon?traffic_source=rss

Continue Reading

Trending

Copyright © 2024 by 7Tamil Media, All rights reserved.