Disney, Star India, Aparna Purohit and other newsmakers this week
Disney reports first profit in streaming business
The Walt Disney Company has reported its first profit in the streaming entertainment unit. The profit in the streaming business comes two quarters ahead of the expectation; Disney had promised that its streaming operation would become profitable by September. The company has reported a 17% jump in its operating income from all segments – entertainment, sports and experiences- in the second quarter earnings released on Tuesday.
Star India’s operating loss from sports business increases 50% in H1 FY24
Star India’s operating loss from sports business increased by 50% at $342 million in the six months ended March 30, 2024, compared to $228M last fiscal, said the Walt Disney Company in its financial report for the second quarter. According to the company, Star India’s affiliate revenue declined by 3% from $132 million in H1 of 2023 to $128 million in H1 of 2024.
Amazon confirms Aparna Purohit’s departure
Days after exchange4media reported Aparna Purohit's exit from Amazon Prime Video, the company confirmed the top content executive's departure with a statement. Purohit was the head of India and SEA Originals at Amazon Prime Video.
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Abhay Ojha exits ZMCL with immediate effect
Abhay Ojha, Chief Executive Officer, Zee Media Corporation Ltd has exited the organization with immediate effect. His service ceased with effect from May 4 afternoon, according to sources. Dr Idris Loya, a seasoned technology veteran with nearly three decades of experience, has taken over the interim role from Ojha. He joined Zee Media as Chief Business Officer and P&L Head of linear channels excluding WION and Zee Business in 2022 and later in 2023, was promoted as CEO.
Jyoti Malhotra is editor-in-chief of The Tribune, the first woman in the chair
Seasoned journalist Jyoti Malhotra has been appointed the new Editor-in-Chief of The Tribune. She replaced Rajesh Ramachandran, who held the fort for about six years, first as the editor and then as editor-in-chief.