Questioned about whether the service was planned as a "Netflix killer" yesterday, Iger said the on-demand giant had been "a good partner".
Mr. Iger also provided some information on pricing for the service, saying it will be "substantially below" that of Netflix Inc. because it will start with "substantially less volume". Shares initially fell almost 4% in late trading Thursday, after the top and bottom line misses. In intraday trading, it fell as low as 189.50.
Early reports claimed that Fox was not confident in competing in an increasingly crowded media landscape that includes Google, Amazon, Netflix and Facebook. For the latest news on the group, visit IBD's page on FANG stocks.
The company plans on allowing commercials for its sports streaming app, but there are no plans to "have the programming that airs in the direct-to-consumer service interrupted by commercials", Iger says, adding sponsored programs could be a possibility.
Kevin Spacey axed in latest film as allegations continue
Spacey allegedly bought her son "drink after drink" and then stuck his hand down the teen's trousers and grabbed his genitals. The decision to erase Spacey comes after a string of allegations about the actor's predatory sexual behaviour.
Facebook wants Australians' nude images to fight revenge porn
Two years ago, Twitter and Reddit cracked down on revenge porn , banning the practice on both platforms . Wait! Before you send that nude photo to your new flame, Facebook wants to see it.
Yahoo's Mayer points to Russians in data-breach apology
Barros mentioned that Equifax is working on an application that would let customers lock and unlock personal credit data. Yahoo had bumped its estimate of affected accounts from a previous 1B to all of them (3B in total).
On an earnings call Thursday, Disney CEO Bob Iger revealed that several of the studio's most famous franchises will be getting the series treatment for the service, according to The Hollywood Reporter.
As for its cable networks, operating income decreased US$15 million to US$1.2 billion due to a decrease at Freeform and partially offset by growth at the Disney Channels due to higher program sales. Most fans were eager to speculate on the future of the Marvel Cinematic Universe and possible hero crossovers. And besides, it's not even that much when you consider that Netflix is reportedly looking to spend upwards of $8 billion dollars on developing original content in 2018 alone. Netflix now charges between $8 and $12 a month.
As it now stands, the rumors of a sale have made Fox and Disney shareholders alike happy - as of Friday alone, the Twenty-First Century division of Fox has seen an increase of 4% to their stock's value since the rumors first got out, and Disney has seen a more modest increase of 2.9%.
The drama is the second big series Apple has secured for its fledgling streaming service, joining the Steven Spielberg-produced "Amazing Stories" series.