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NEW YORK (AP) — The Fox Studio backlot, first built in 1926 on a Century City ranch in Los Angeles, was enormous. Before much of it was sold off in the 1960s, it was four times the size of its current, and still huge, 53 acres.Shirley Temple's bungalow still sits on the lot, as does the piano where John Williams composed, among other things, the score to "Star Wars." A waiter in the commissary might tell you where Marilyn Monroe once regularly sat.When the Walt Disney Co.'s .3 billion acquisition of Fox is completed at 12:02 a.m. Wednesday, the storied lot — the birthplace of CinemaScope, "The Sound of Music" and "Titanic" — will no longer house one of the six major studios. It will become the headquarters for Rupert Murdoch's new Fox Corp., (he is keeping Fox News and Fox Broadcasting) and Fox's film operations, now a Disney label, will stay on for now as renters under a seven-year lease agreement.The history of Hollywood is littered with changes of studio ownership; even Fox Film Corporation founder William Fox, amid the Depression, lost control of the studio that still bears his name. But the demise of 20th Century Fox as a standalone studio is an epochal event in Hollywood, one that casts long shadows over a movie industry grappling with new digital competitors from Silicon Valley and facing the possibility of further contraction. After more than eight decades of supremacy, the Big Six are down one."It's a sad day for students of film history and I think it's potentially a sad day for audiences too," said Tom Rothman, former chairman of Fox and the current chief of Sony Pictures. "There will just be less diversity in the marketplace."Disney's acquisition has endless repercussions but it's predicated largely on positioning Disney — already the market-leader in Hollywood — for the future. Disney, girding for battle with Netflix, Apple and Amazon, needs more content for its coming streaming platform, Disney+, and it wants control of its content across platforms."The pace of disruption has only hastened," Disney chief Robert A. Iger said when the deal was first announced. "This will allow us to greatly accelerate our director-to-consumer strategy."The Magic Kingdom will add 20th Century Fox alongside labels like Marvel, Pixar and Lucasfilm. But film production at Fox, which has in recent years released 12-17 films a year, is expected to wane. Due to duplication with Disney staff, layoffs will be in the thousands.Disney will also take over FX, NatGeo and a controlling stake in Hulu, which has more than 20 million customers. It will gain control of some of the largest franchises in movies, including "Avatar," ''Alien" and "The Planet of the Apes." Fox's television studios also net Disney the likes of "Modern Family," ''This Is Us" and "The Simpsons." Homer, meet Mickey.Some parts of Fox, like the John Landgraf-led FX and Fox Searchlight, the specialty label overseen by Stephen Gilula and Nancy Utley, are expected to be kept largely intact. Searchlight, the regular Oscar contender behind films such as "12 Years a Slave," ''The Shape of Water" and "The Favourite," could yield Disney something it's never had before: a best picture winner at the Academy Awards.Nowhere is the culture clash between the companies more apparent than in "Deadpool," Fox's gleefully profane R-rated superhero. While Spider-Man still resides with Sony, Disney now adds Deadpool, the X-Men and the Fantastic Four to its bench of Marvel characters. How they will all fit with Disney's PG-13 mission remains to be seen, though Iger last month suggested in a conference call with investors that there may be room for an R-rated Marvel brand as long as audiences know what's coming.The question of how or if Disney will inherit Fox's edginess matters because Fox has long built itself on big bets and technological gambits. It was the first studio built for sound. It was nearly bankrupted by the big-budget Elizabeth Taylor epic "Cleopatra." It backed Cameron's seemingly-ill-fated "Titanic," as well as Ang Lee's "The Life of Pi" and the Oscar-winning hit "Bohemian Rhapsody.""We were a studio of risk and innovation," says Rothman, who also founded Fox Searchlight. "It was a very daring place, creatively. That's what the movies should be."But will the more button-down Disney have the stomach for such movies? "Deadpool" creator Robert Liefeld, for example, has said Fox's plans for an X-Force movie have been tabled, a "victim of the merger."Some were surprised regulators gave the deal relatively quick approval. The Department of Justice approved the acquisition in about six months, about four times less than the time it took investigating AT&T's acquisition of Time Warner. The New York Times editorial page suggested the deal benefited from President Trump's relationship with Murdoch."Disney will have probably north of 40 percent market share in the U.S. That's one area where a deal does suggest that the market influence is going to be outsized," says Tuna Amobi, a media and entertainment analyst with investment firm CFRA. "Having one studio control that much is unprecedented. And it could increase from there given the pipeline that we see."Disney is about to have more influence on the movies Americans and the rest of the world see than any company ever has. Last year, it had 26 percent of the U.S. market with just 10 movies which together grossed more than billion domestically and .3 billion worldwide. Fox usually counts for about 12 percent of market share.Fewer studios could potentially mean fewer movies. That's a concern for both consumers and theater owners, many of whom already rely heavily on Disney blockbusters to sell tickets and popcorn."Certainly, consolidation poses a challenge in some respects to the supply of movies," says John Fithian, president and chief executive of the National Organization of Theater Owners. "The fewer suppliers you have, the chances are we're going to get fewer movies from those suppliers."But Fithian believes other companies are stepping into the breach, and he holds out hope that Netflix might eventually embrace more robust theatrical release. More importantly, Fox was bought by a company in Disney that is, as Fithian said, "the biggest supporter of the theatrical window."Still, Disney has been willing to throw its weight around. Ahead of the release of "The Last Jedi," the studio insisted on more onerous terms from some theater owners, including a higher percentage of ticket sales.More experimentation in distribution is coming. Later this year, WarnerMedia, whose Warner Bros. is regularly second in market share to Disney, will launch its own streaming platform. Apple is ramping up movie production. Amazon Studios is promising bigger, more attention-getting projects.Ahead of a blizzard of new streaming options, Fox — and a giant piece of film history — will fade into an ever-expanding Disney world. Film historian Michael Troyan, author of "20th Century Fox: A Century of Entertainment," has studied enough of Hollywood's past to know that relentless change is an innate part of the business."It's sad when any historical empire like that comes to end," says Michael Troyan. "You can record in other places but when you're on a lot like Fox, you feel the gravitas, you feel the history."Rothman says he will pause for a "wistful moment" Wednesday, but he believes consolidation doesn't mean obsolescence."I don't think it remotely arguers the end of the glories of the film business overall," says Rothman. "I believe there remains eternal appetitive for original, vibrant, creative theatrical storytelling." 7645

NEW YORK (AP) — Professional networking company LinkedIn is laying off nearly 1,000 employees, or approximately 6% of its global workforce, as a slowdown in hiring amid the coronavirus pandemic pressures its business. In a note to employees, CEO Ryan Roslansky said that the positions that will be eliminated are in its global sales and hiring offices. Roslansky said it's the only layoffs LinkedIn is planning. "To continue adapting and accelerating the company as we have been, we need to ensure we are focusing our efforts and resources against our most strategic priorities to set up the company for success today—and well into the future," Roslansky said in the letter. "When we took a hard look at the business, we decided we needed to make some hard calls."Roslansky said 960 roles across their Global Sales and Talent Acquisition organizations would be eliminated.Impacted U.S. employees will receive at least 10 weeks of severance pay and a year of continuing health coverage through COBRA. LinkedIn will also provide immigration support, career transition assistance, and the option to keep company cell phones, laptops, and other recently purchased equipment for departing employees to be able to work from home.Those being laid off will continue in their roles through Aug. 21.LinkedIn is owned by Microsoft. 1328

New payment options are popping up in your online shopping cart.There's been an explosion of retailers, including Amazon and Target, adding buy now, pay later options.“In general, I'm not a huge fan of these services really, because I'm worried about any sort of consumer debt,” said Ted Rossman, a financial expert at Bankrate. “And if you don't really have the money to pay for it today, but you think you'll have it in six weeks, that's a slippery slope.”Rossman says point-of-sale apps have seen triple digit growth over the holiday season.They typically require a payment up front and a few more payments spread out over six weeks or so. If you pay on time, usually there's no interest or fees.Rossman says research has found that almost half of buy now, pay later customers have paid late at some point, mainly because they were disorganized.Stores like them for several reasons, including because they tend to get people to spend more.“They also like the potential loyalty and big data play that they can actually learn a lot about their customers, and they work very closely with a lot of these services,” said Rossman.Most buy now, pay later lenders typically do a soft credit check. They won't typically help you build credit, but they could hurt your credit if you pay late because they will report that.“I just think that's a little bit short sighted, because if you use a credit card and are paying full, you avoid interest, but you get better promotions, you get rewards, you get better buyer protections,” said Rossman.Rossman says these options are appealing even to people who have credit, because of their predictability.He thinks we will see more of these with retailers not being able to push store credit cards as much with fewer in person shoppers. 1778

Netflix plans to establish one of the largest production hubs in North America with an expansion of its existing studio complex in New Mexico and a commitment to an additional billion in production spending, government and corporate leaders announced Monday.Ten new stages, post-production services, offices, mills, backlots and other infrastructure would be added to Netflix’s growing campus on the southern edge of Albuquerque. Aside from construction jobs, the project is expected to result in 1,000 production jobs over the next decade.Netflix first marked its presence in New Mexico in 2018, when it announced it was buying Albuquerque Studios and pledged billion in spending over a decade. At the time, government officials saw the move as a transformative victory for a state that has struggled to lessen its reliance on federal funding and oil and gas development.“I am glad Netflix has chosen to double-down on its commitment to our state, and our partnership will continue to grow for the benefit of New Mexicans across the board,” Gov. Michelle Lujan Grisham said in a statement.Netflix co-CEO Ted Sarandos pointed to the proximity to Los Angeles, the crew base and local talent as reasons for the continued investment.“It allows us to be more nimble in executing our production plans while cementing the status of the region as one of the leading production centers in North America,” he said.A total of million in state and local economic development funding will be funneled toward the expansion, and industrial revenue bonds will be issued by the city of Albuquerque to help reduce some taxes for Netflix.The footprint of the production hub will grow with a private land purchase and a lease involving state trust land.The Albuquerque Development Commission signed off on the proposal Monday. The City Council still must give its approval.Over the last 20 years, the film and television industry has become an economic force in New Mexico, with direct spending topping 5 million in the last fiscal year.“This is all outside money coming into the state, which would not be here otherwise,” state Economic Development Secretary Alicia J. Keyes told the commission during a meeting.She said the partnership with Netflix should send a signal that New Mexico is the place to be for film and television production. Businesses have cropped up around the state to support the industry, she said, and data from the state film office suggests 40% of production budgets go to small, local vendors.“So it really is trickling through our economy,” she said.As part of the proposed investment, Netflix has committed to providing training programs in partnership with the New Mexico Film Office, local universities and industry organizations. Netflix also has committed to supporting Native American, Latino, Black and other underrepresented content creators and filmmakers.Since coming to New Mexico in 2018, Netflix said it has spent more than 0 million, used more than 2,000 production vendors and hired more than 1,600 cast and crew members.Netflix is in production in New Mexico on the original films “The Harder They Fall” and “Intrusion” and is expected to soon begin filming “Stranger Things 4” in Albuquerque. 3242

None of the countries that make up the G20 group of major world economies is on course to adequately reduce climate change, with 82% of the bloc's energy supply still coming from fossil fuels, a new report has warned.Of the countries, only India has set targets that would keep global temperature rise below 2 degrees Celsius, the upper limit recommended by the Paris Climate Agreement, if adopted globally.Overall, the world is heading for a 3.2-degree rise, the organization Climate Transparency said, in an analysis of the G20's current emissions-cutting targets for 2030 published Wednesday.Targets set by the worst offenders -- Russia, Saudi Arabia and Turkey -- would lead to a rise of more than 4 degrees if they were adopted worldwide, the report added.The G20 comprises representatives from Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States.The landmark Paris Agreement, drafted in 2015, resulted in an aim to keep global warming below 1.5 degrees compared to pre-industrial levels, with 2 degrees set as an upper limit.But the report cautions that those targets are virtually impossible to reach at current rates. It follows similar warnings made last month by the Intergovernmental Panel on Climate Change (IPCC), which found that the earth will reach the crucial 1.5 degree threshold as early as 2030."The G20 economies actually need to cut their emissions by half by 2030 to keep warming below 1.5°C," said Jan Burck, senior adviser at equality NGO Germanwatch, one of the report's authors. Germanwatch is one of 14 partners that make up Climate Transparency."But instead of responding to the urgency of climate change, the G20 countries continue to pour money into factors that drive climate disruption, like fossil fuel subsidies, instead of taking stronger action," he added.G20 countries account for around 80% of the world's global greenhouse gas emissions, according to the World Resources Institute.  2104