Business
Inside the Controversy Surrounding Disney’s ‘Snow White’ Remake
Disney knew that remaking “Snow White and the Seven Dwarfs” as a live-action musical would be treacherous.
But the studio was feeling cocky.
It was 2019, and Disney was minting money at the box office by “reimagining” animated classics like “Aladdin,” “Beauty and the Beast” and “The Jungle Book” as movies with real actors. The remakes also made bedrock characters like Cinderella newly relevant. Heroines defined by ideas from another era — be pretty, and things might work out! — were empowered. Casting emphasized diversity.
Why not tackle Snow White?
Over the decades, Disney had tried to modernize her story — to make her more than a damsel in distress, one prized as “the fairest of them all” because of her “white as snow” skin. Twice, starting in the early 2000s, screenwriters had been unable to crack it, at least not to the satisfaction of an image-conscious Disney.
“Snow White and the Seven Dwarfs,” which premiered in 1937, posed other remake challenges, including how to sensitively handle Happy, Sneezy, Sleepy, Dopey, Bashful, Grumpy and Doc. (One stalled Disney reboot had reimagined the dwarfs as kung fu fighters in China.)
Still, Disney executives were determined to figure it out. They had some new ideas. More important, the remake gravy train needed to keep running.
“It’s going to be amazing, another big win,” Bob Chapek, then Disney’s chief executive, said of a live-action “Snow White and the Seven Dwarfs” at a 2022 fan convention.
Instead, “Snow White,” starring Rachel Zegler, arrives in theaters on Friday as one of the most troubled projects in Disney’s 102-year history. The movie became a cautionary tale about relevance — how trying to strike the right cultural chord at the right cultural moment can turn a seemingly innocuous movie into a proxy battle for special interests. And just about everything that could go wrong did, resulting in a case study of the perils of big-budget moviemaking in a volatile, fast-moving world and the risks of trying to endlessly mine existing intellectual property.
For Disney and Hollywood as a whole, this weekend will be a test: How much does prerelease Sturm und Drang even matter these days? Will family ticket buyers steer clear? Or will they ignore the negative chatter and trust a vaunted entertainment brand to provide a little escapist fun?
This article is based on interviews with more than a dozen people involved with the film. Together, their accounts show how “Snow White” went from promising idea to poisoned apple, and how the entertainment giant and the film’s creative team scrambled to save it.
Some “Snow White” challenges amounted to bad luck. Pandemic Covid cases flared up just as production got underway in London, forcing Disney to adopt stringent safety protocols and adding millions of dollars to the budget. One of the sets, a cottage with a thatched roof, caught fire on a soundstage. The 2023 actors’ strike forced Disney to halt reshoots. Gal Gadot, cast as the Evil Queen, suffered health complications from a pregnancy, delaying reshoots and visual-effects work.
Other problems were self-inflicted. Disney flubbed its response to leaked on-set photos of new characters (a troop of seven woodland inhabitants known as bandits) that appear in the new film alongside the seven dwarfs, but that led fans to worry the dwarfs had been expunged entirely for political correctness. And Ms. Zegler went rogue in interviews and on social media, sparking one controversy after another.
Perhaps the biggest challenge to the movie was the cultural shift that has taken place over the past several years.
In 2021, online trolls attacked Disney for casting Ms. Zegler, a Latina actress, as Snow White. “Snow Woke” briefly trended. But the pushback dissipated, and Disney shrugged it off. Inside the studio, executives were proud of the casting. They had been wowed by Ms. Zegler’s voice and screen presence. They saw her ethnicity as a bonus. The killing of George Floyd a year earlier by a police officer had roiled every sphere of American life, prompting institutions and individuals around the country to confront racism and inequity. In Hollywood in general and Disney in particular, “We must do better” rang in every hallway.
As “Snow White” finally comes to market, however, Disney finds itself in a very different climate. Companies, including Disney, have raced to distance themselves from diversity, equity and inclusion initiatives amid a broader backlash toward D.E.I. policies by President Trump. What had been a positive — a Latina in a role associated with whiteness (it’s in the title) — became a potential liability, with right-wing agitators (many of them adult men unlikely to see the film to begin with) hammering Disney and Ms. Zegler.
Some news outlets followed suit. The New York Post alone has published 20 articles about “Snow White” over the last week. “Grumpy, Dopey and Woke — Disney’s ‘Snow White’ Disaster” was the headline on one.
The tumult around “Snow White” had grown so intense by the movie’s premiere in Los Angeles last weekend that Disney heightened security and curtailed red carpet interviews. The entrance to the theater was hidden from public view by tall hedges on movable platforms. (The eagerness to see “Snow White” fall on its face was such that some online haters began insisting, incorrectly, that the premiere had been canceled.)
After the screening, a few Disney executives and people who worked on the film stood in the lobby searching people’s faces for responses and hoping for a last-minute plot twist — that reviews would be positive and their work to keep “Snow White” on track would pay off with strong ticket sales. Maybe, in the end, the movie would not go down in the Hollywood history books as a cautionary tale. Maybe I.P. really can be reimagined for every generation, just as every studio executive loves to dream.
“Our job is to delight,” Marc Platt, the film’s lead producer, said to The New York Times after the premiere. “I’m hopeful that once audiences actually experience the film, all the noise around it will fade away and people will discover a family entertainment that is joyful, aspirational and delightful.”
A naïve princess no longer
As the first feature-length, fully narrative animated film, “Snow White and the Seven Dwarfs” defined a new art form. It contributed “Heigh-Ho,” “Whistle While You Work” and “Someday My Prince Will Come” to the Great American Songbook.
The movie cost about $1.5 million to make (about $34 million today) and collected $184 million (roughly $4 billion) in the United States and Canada. Walt Disney bought the land for Disney headquarters with part of the profit. To this day, Disney leaders work in a building adorned with monumental statues of the seven dwarfs. Disney Animation offices sit nearby, along Dopey Drive.
Any effort to remake the movie would carry extra weight.
Knowing this, Disney movie executives lined up an A-plus creative team. In the producer’s chair would be Mr. Platt, now a four-time Oscar nominee for “Wicked,” “La La Land,” “Bridge of Spies” and “The Trial of the Chicago 7.” Marc Webb, who had experience with big-budget blockbusters, including two “Spider-Man” movies, came aboard as director. Benj Pasek and Justin Paul, the EGOT-winning songwriting partners (“Dear Evan Hansen,” “The Greatest Showman”), would contribute new tunes.
Ms. Zegler was winning raves for playing Maria in Steven Spielberg’s “West Side Story.” Ms. Gadot was literally “Wonder Woman.”
The production would be colossal, sprawling across 10 soundstages in suburban London. Eight visual-effects companies in three countries would digitally create the dwarfs, the magic mirror and a multitude of cutesy animals (owls, bunnies, birds, turtles, squirrels). For the deer, puppeteers would be employed.
Most important, the screenwriter Erin Cressida Wilson (“The Girl on the Train”) had collaborated with Mr. Pasek and Mr. Paul to modernize the story. Snow White, now named after a wintry storm, was no longer a naïve princess defined by her looks; she was a leader in training, someone the Evil Queen despised because she was beautiful, yes, but also because she prized fairness as a leadership quality. The prince was dropped; that love interest became a Robin Hood-esque scofflaw. And the dwarfs, especially Dopey, were given character arcs of their own — more emotional depth, less bumbling physical comedy.
Greta Gerwig (“Barbie”) and five other writers did polishes. Satisfied by their work, Alan F. Horn, then chairman of Walt Disney Studios, pushed the project forward with a budget of $210 million.
‘I was born to play Dopey’
From the beginning, Disney knew the seven dwarfs could become a public-relations nightmare. Disney fans delight in them. The dwarfism community, however, tends to view the characters as infantilizing, dehumanizing and hurtful.
The studio hired three dwarfs as consultants to help navigate potential pitfalls.
The first real blowback came in January 2022 when the actor Peter Dinklage (“Game of Thrones”) criticized Disney for remaking “Snow White” during an appearance on Marc Maron’s “WTF” podcast. “I was a little taken aback when they were proud to cast a Latina actress as Snow White,” Mr. Dinklage said. “You’re progressive in one way, and you’re still making that backwards story about seven dwarfs living in a cave? Have I done nothing to advance the cause from my soapbox?”
Disney swiftly put out a statement: “To avoid reinforcing stereotypes from the original animated film, we are taking a different approach with these seven characters and have been consulting with members of the dwarfism community.”
Because Disney did not explain its “different approach,” however, damaging theories began to wash across the internet. Had the studio decided to do away with the dwarfs? After all, they had disappeared from the title of the film.
Then an on-set photo leak turned what had been an online brush fire into an inferno. In July 2023, The Daily Mail published images that appeared to show the seven dwarfs being played by actors and actresses of various races and ethnicities; only one of them was a dwarf. The headline was “Snow White and the Seven … Politically-Correct Companions?”
At first, a Disney publicist said the photo was fake. The company then reversed itself. But Disney, worried about spoilers, did not provide a crucial piece of information: Those weren’t the dwarfs. This movie would feature two groups of seven — a troop of bandits (depicted in the photo) and a separate troop of C.G.I. dwarfs, to be added in postproduction.
As the initial March 2024 release date moved back — Disney was underwhelmed by the first cut and ordered reshoots — the studio found itself playing Whac-a-Mole with one dwarf controversy after another. When it finally emerged that Disney had opted to use C.G.I. to render Doc, Sleepy, Bashful and the gang, the company came under attack for the “erasure” of people with dwarfism.
Others criticized Disney for denying them jobs. “I was born to play Dopey,” Matt McCarthy, an actor with dwarfism, told reporters on Monday as he and his wife, an actress with dwarfism, planned a protest outside Disney headquarters in Burbank, Calif. “When you’re a little person, opportunities are few and far between,” he said.
The star goes rogue
On Aug. 9, 2024, Disney’s marketing campaign for “Snow White” kicked into a higher gear with the release of a teaser trailer. It did not go well.
Some people criticized the dwarves. Others mocked Ms. Zegler’s wig, likening her helmet hair look to Lord Farquaad from “Shrek.” Many simply questioned the wisdom of remaking the 1937 original. (As of Wednesday, roughly 102,000 people had clicked “like” on the trailer on YouTube, while 1.5 million had clicked “dislike.”)
But the real headache came a few days later when Ms. Zegler shared the trailer on X and added, “And always remember, free Palestine.” In an instant, “Snow White” became part of a highly divisive global political conversation — the opposite of what Disney wanted. Ms. Zegler’s comment also caused a severe rift with Ms. Gadot, who is Israeli. (Both actresses declined to comment for this article.)
Hollywood’s studio system days are long gone. Stars are free to express themselves as they wish. All studios can do is beg: Please, pretty please, stay on message. (Ms. Zegler had already angered fans of the original movie. “People are making these jokes about ours being the PC Snow White,” she said in 2022. “Yeah, it is — because it needed that.”)
The best containment strategy, Disney decided, was silence. Asking Ms. Zegler to take her post down could generate more attention — especially if she told her followers that she had been pressured to do so. But Mr. Platt flew to New York from Los Angeles to have a heart-to-heart with Ms. Zegler. He explained how much was at stake, both for Disney and for her career, and asked her to post heedfully.
She seemed to understand.
In November, however, Ms. Zegler took to Instagram to sound off about the presidential election. In a post salted with expletives, she harshly criticized Mr. Trump and those who had voted for him.
It had only been a short time since Disney had tried to turn a corner with MAGA followers by ending a spat with the governor of Florida, Ron DeSantis, over Disney World. A new skirmish could threaten the détente.
Within seconds of Ms. Zegler’s Instagram post, screenshots of the screed pinged between phones at Disney headquarters. How could the studio possibly trust her to participate in the coming “Snow White” publicity tour?
This time, members of Ms. Zegler’s management team, including agents at Creative Artists Agency, sprang into action. Her post was quickly replaced with an apology. “I let my emotions get the best of me,” she said. “I’m sorry I contributed to the negative discourse.”
But it was too late. Ms. Zegler, “Snow White” and Disney had already been in the cross hairs of right-wing pundits. Now, it was open season.
Megyn Kelly called for Ms. Zegler’s replacement in the film. An anti-D.E.I. agitator, Robbie Starbuck, went on the attack. Elon Musk weighed in with a post that skewered Disney for race-swapping iconic characters.
Ms. Zegler’s fans rallied around her. “So overjoyed knowing that little Latinas will be able to see themselves as such an iconic Disney princess,” one commented on Ms. Zegler’s Instagram page.
Disney hoped that prominent voices on the left would step up to deliver a pushback to the pushback. But it didn’t happen.
“Really never, but especially right now, no studio wants its movie branded as a D.E.I. lesson,” said Martin Kaplan, who runs the Norman Lear Center for entertainment, media and society at the University of Southern California.
Disney largely managed to avoid this critique as recently as 2023, when it remade “The Little Mermaid” with a Black actress in the title role; defenders were plentiful. But last month, when Disney released “Captain America: Brave New World,” with a Black actor in the title role for the first time, the company had a harder time.
It’s not an entirely new phenomenon: Think of the male-Internet uproar over the all-female “Ghostbusters” from 2016, or the ongoing fan vitriol around Disney’s efforts to bring diversity to the “Star Wars” franchise. But the “anti-woke right” has grown more powerful, Mr. Kaplan noted, while defenders on the left have grown quieter, either because they feel cowed or frustrated or because even they have come to see Hollywood’s aggressive diversity efforts as clumsy.
“I’m not sure anyone could have predicted that a reactionary force could so quickly and dramatically reverse the cultural winds, but that is certainly what has happened,” Mr. Kaplan said. “What once were uncontroversial or proud decisions are suddenly somehow un-American.”
Digital wig fixes
As “Snow White” bounced from one controversy to the next, the Hollywood gossip mill kicked into high gear: Surely, Disney would cut its losses and send this beast straight to streaming.
But sweeping “Snow White” under the rug (as the company had done with other problem movies, including the critically reviled “Artemis Fowl” in 2020) was never something that Disney considered. The budget for “Snow White” had risen to $270 million, not including marketing. Disney+ would need to absorb that cost (minus tax incentives) if it took the film. And that would undercut one of Disney’s key promises to Wall Street: greater streaming profitability.
Disney also knew something the outside world did not: After the reshoots (“additional photography” in studio parlance) and extensive visual-effects work, the movie was starting to jell.
A second-act song called “Hidden in My Heart,” a tear-jerker sung by one of the dwarfs, had been cut to speed the story along. A new scene near the finale involving the Evil Queen and magic mirror had added spectacle. That troublesome wig had undergone digital fixes.
Was it possible that “Snow White” was becoming … a decent movie? At least one that would entertain the Disney faithful?
In October, executives from across the company had been scheduled to fly to Disney World in Florida for a corporate retreat. When the summit was called off at the last minute because of Hurricane Milton, the studio team used the time to focus on “Snow White.” Disney’s new live-action film chief, David Greenbaum, who had inherited the troubled project, gathered a dozen studio leaders in a screening room on the Disney lot and spent two days scrutinizing the movie — stopping it, starting it — to see what could be improved, according to three people with direct knowledge of the session, who spoke on the condition of anonymity to discuss a private process.
The C.G.I. dwarfs looked “waxy,” Mr. Greenbaum worried. They could also be better integrated with live-action woodland footage shot on location. What trims could be made? The bandit story line, it seemed, could be tightened by a lot.
Mr. Webb, the director, kept tinkering with sound and color until February.
A fairy tale ending?
On Tuesday, Mr. Webb was in an upbeat mood. Reactions from people invited to the premiere had been positive. He positioned his “Snow White” as a throwback to a simpler time.
“Now that people are seeing the movie, I think they’re surprised and warmed by how nostalgic it is,” he said in a phone interview. “This movie is nostalgic not just in its aesthetic but in its worldview. It’s wholesome and kind, and that’s what I’ve held sort of dear through this whole process.”
Reviews arrived on Wednesday. Critics praised Ms. Zegler’s performance, but were underwhelmed by the film as a whole. “It’s just, well, fair,” Nell Minow wrote on RogerEbert.com.
Based on ticket presales and surveys of moviegoer interest, “Snow White” is expected to collect $45 million to $50 million at domestic theaters over the weekend, according to box-office analysts. That start would be slow for a Disney live-action remake: In the 15 years that the company has been producing them, none of the big-budget entries have exclusively arrived in theaters to less than $58 million, after adjusting for inflation. (That was “Dumbo” in 2019.)
David A. Gross, a box office analyst, noted that some of the thrill of seeing an animated classic reimagined as a live-action spectacle has worn off in the years since “Snow White” went into production. The film’s ultimate box office tally will probably come down to what he called “the babysitter effect.”
“Never underestimate the need for a 6-year-old to be entertained,” Mr. Gross said.
Business
These California companies want you to ditch your keyboard
Gavin McNamara has abandoned his keyboard and spends all day talking rather than typing.
He speaks for hours with his computer and phone, sending emails, writing presentations, posting on LinkedIn and even coding through conversations using an AI dictation app from San Francisco startup, Wispr Flow.
The AI punctuates, formats and adapts his rambling into coherent copy. McNamara averages 125 words per minute, which is twice the average typing speed.
“At this point, anything that could be done by typing, I do by speaking,” said the 32-year-old, founder of software agency Why Not Us. “I just talk.”
Across 77 apps, he has dictated nearly 300,000 words in the past five months — that’s equivalent to writing three novels.
California’s tech titans and startups are at the forefront of a movement to use AI and the large language models they are based on to push people to interact with technology using their voices rather than their fingers.
“AI and LLMs have changed the dynamic,” said CJ Pais, the San Diego-based creator of free voice-to-text dictation app Handy. “Using your voice is much faster than typing.”
A mix of independent developers and startups, including Handy, San Francisco’s Wispr Flow and Willow and others, have sprung up to offer accurate voice interaction with artificial intelligence.
The biggest names in tech are also creating new ways for people to partner with AI. Meta’s latest smart glasses rely on voice. OpenAI and Meta have designed distinct personalities for their bots’ voice chats. Even Amazon’s Alexa and Apple’s Siri are undergoing AI upgrades, which the companies anticipate will have everyone talking to their tech much more.
These free and paid methods for using spoken words with computers have attracted millions of users, including coders, executive assistants, lawyers, content creators, and medical practitioners. Some optimists think the keyboard could become obsolete.
“I’m excited to announce that we’ve removed keyboards from the most prestigious television awards in the world,” Allan Guo, the founder of Willow, said in a post on LinkedIn, noting that the Emmy Awards team used Willow’s voice dictation for sending Slack messages and clearing inboxes faster in preparation for the 2026 awards.
Over the years, big tech companies have adapted many of their products with voice-first features — for convenience. Today’s pivot away from voice as an accessibility feature to a productivity tool.
In late 2022, the maker of ChatGPT started giving away unfettered acccess to its automatic speech recognition model called Whisper, trained on 680,000 hours of multilingual data. OpenAI shared the tech for accurate audio transcription, once a closely guarded big tech secret. Anyone could now download and run high-quality AI transcription for free on their laptop.
The new wave of AI dictation apps uses Whisper as the foundation and builds on top to offer live dictation. While there are free alternatives, paid subscription costs between $8 and $12 a month.
AI-powered dictation is now gaining a toehold among programmers and regular users — and getting people to talk to their laptops. Be it writing emails, sending SMS, designing a website, or giving AIs tasks, early adopters say dictation allow them to work faster, think more clearly, and be more productive.
“The people who’ve adopted voice heavily aren’t going back. Once you’re talking 20 hours a week to your laptop, typing feels like friction,” said Naveen Naidu, the general manager of New York-based voice dictation app Monologue. “Where I think it’s heading: Voice becomes the delegation layer. You speak your intent, and things happen.”
These new AI dictation apps leverage Apple’s advanced chips on iPhones and Macs to run private on-device dictation.
Geoffrey Huntley, an independent software developer, switched almost completely to voice for work in June.
He often starts projects by opening a voice prompt and asking the AI to interview him about his concerns and project requirements before any code is generated.
“I speak to it, like I’m riffing in a jazz band, backwards, forwards, backwards, forwards,” Huntley said. This vocal dance helps refine the specifications, then the AI takes the wheel, and builds software.
Beyond coding, Huntley uses voice to “let it rip” when capturing blog post ideas or messaging, using apps like Superwhisper or Wispr Flow to get a “first dump” of thoughts before moving to a keyboard for final editing.
A growing number of software developers in Silicon Valley are dictating coding instructions for hours at a time instead of typing. The combination of rapidly advancing AI agents that can code for hours, with voice inputs capturing thoughts faster than typing, has boosted their productivity.
Self-described “vibe coder” McNamara built over 25 web apps in a few months, a speed of development that would be impossible without voice instructions.
“I don’t think that [typing], by any means, would be even efficient or effective to get there as fast as I did with talking,” McNamara said.
He used a meandering conversation and a few hours to get AI to build Sprout Gifts, a gifting registry for kids, and an app to appraise any items via photos.
To be sure, AI can make mistakes, and its work needs to be checked.
Meanwhile, wide adoption has brought new inconveniences, as even power users feel awkward talking to their laptops. Crowded open offices are not designed for many people to be conversing with their computers at the same time.
“Love voice, but not in an office setting,” said one user on X. “I dislike talking around other people. I would do it in a closed-door office, or go work in my car.”
McNamara uses headphones so people assume he is on a call.
“It’s like the social hack that I have,” he said.
While it is too early to call whether and when the Qwerty keyboard might follow the ticker tape and fax machines into obsolescence, the velocity toward voice is accelerating, said Dylan Fox, founder of San Francisco-based AssemblyAI, which offers audio models to companies.
“We’re definitely in the beginning of what we think of as like this 10 to 100x increase in demand for voice, AI applications and interfaces,” he said.
For the coder, McNamara, talking more to chatbots has made him a better buddy.
He used to be bad at responding to texts. Now he gets back to friends right away.
“I am so quick to respond, they are like ‘Who’s this guy?’” he said.
Business
After Warner defeat, Comcast loads up on Winter Olympics, Super Bowl and NBA
Shaking off its defeat in the Warner Bros. bidding war, Comcast is focusing on its big sports bet.
NBCUniversal will broadcast the Winter Olympics, Super Bowl, NBA, Major League Baseball and the World Cup this year.
The Philadelphia giant released its fourth-quarter earnings Thursday and its sports-heavy strategy is revealing both the benefits and costs. NBCUniversal’s new NBA deal has had the hoped-for effect of boosting subscribers to its Peacock streaming service.
Peacock now has 44 million customers and streaming revenue grew 23% to $1.6 billion. But Peacock’s losses swelled to $552 million in the fourth quarter as the streaming service absorbed the expense of NBC’s NBA TV rights agreement and an exclusive NFL game.
Comcast executives said during an earnings call that Peacock reduced its full-year losses by $700 million compared to 2024. Last year, the service lost $1.1 billion and profitability is still a ways off.
Comcast Chairman Brian Roberts noted that the entertainment industry is in the throes of a major transformation and that NBCUniversal has laid the groundwork for its own metamorphosis. His company has made a sharp pivot away from NBC’s 1990s glory days of “Must-See TV” comedies, water-cooler dramas like “ER” and “West Wing,” as well as a fleet of formidable cable channels, including USA and CNBC.
This month, the cable channels were spun off into a new company called Versant.
Comcast entered last fall’s high-stakes Warner auction with hopes of combining NBCUniversal with Warner Bros. to create a new Hollywood behemoth. But Netflix swooped in with a $82.7-billion deal and David Ellison’s Paramount Skydance also made an all-cash bid. Paramount has refused to accept defeat, launching a hostile takeover to attempt to claim its rival — a pursuit that Warner board members are fighting.
“In terms of Warner Bros., what can you say?” Roberts said. “It’s still underway, obviously.”
Marrying NBCUniversal and Warner Bros. would have made a compelling company, Roberts said. But as soon as its competitors turned to all-cash offers, “We were just not interested in these values, stretching our balance sheet to do something like that,” he said.
NBCUniversal’s Peacock grew to 44 million subscribers.
(Peacock)
The longtime cable chief pointed to the silver lining.
Preparing its bid for Warner Bros. “forced us on the journey to really take a good look at what we have and what we’re building,” Roberts said. “We have a wonderful studios business … 2026 should be a great year for the film business. … We have two studios in the television business, which is feeding Peacock.”
NBCUniversal is moving closer to its goal of becoming “an integrated media business that is profitable and [has] got a lot of sports,” a streaming service and Universal theme parks, Roberts said, adding the Warner auction has prompted other firms to discuss possible combinations.
NBC, which turns 100 this year, has long carried live sports.
But it has doubled down and February will be packed with the Winter Olympics in Italy, the Super Bowl near San Francisco and the NBA All-Star game in Inglewood.
In March, NBC and Peacock will begin broadcasting MLB games, including the Dodgers hosting the Arizona Diamondbacks on opening day.
The company’s Spanish-language network Telemundo will broadcast the World Cup this summer, including a stop in Los Angeles.
“We’re very confident and comfortable that we’re in the right part of the industry,” Roberts said. “We hope the Olympic Games can offer a moment of connection for our country and for people everywhere” during such divisive times, he said.
Comcast has been struggling in its core broadband business as cellphone carriers with 5G service have cut into its former dominance. Millions of customers have ditched their cable TV packages.
The company switched up management in Philadelphia in October, installing Steve Croney as chief executive of its connectivity and platforms business. And Comcast has trimmed some of its internet package prices to better compete.
In the fourth quarter, Comcast lost 181,000 domestic broadband customers — more than what analysts had forecast. The company said some of the losses were offset by gaining international customers.
Comcast generated quarterly revenue of $32.3 billion, a slight increase that was in-line with expectations. Adjusted earnings a share decreased 12% to 84 cents, higher than expected.
Net income attributed to Comcast came in at $2.2 billion, which was more than 50% lower than the year-earlier period. The decline reflected a tough comparison to the prior year period, which included a $1.9 billion income tax benefit attributed to an internal corporate reorganization.
NBCUniversal produced $12.7 billion in revenue, a 5.4% increase.
The media unit, which includes television and streaming, contributed $7.6 billion in revenue, a 5.5% gain. (The numbers included results from the profitable cable channels, which became a separate entity on Jan. 2.) Higher advertising sales and Peacock, which began carrying the NBA, helped deliver the gains. Peacock recently raised its monthly fee.
But media earnings before interest, taxes, depreciation and amortization tumbled 141% to a loss of $122 million to account for the NBA contract.
Theme parks, which now boast Universal’s Epic Universe near Orlando, produced $2.9 billion in revenue — a 22% increase. It generated $1 billion in profit.
NBCUniversal’s studio business generated $3 billion in revenue, a decline of 7.4%. It notched $351 million in earnings, a decline of 38%.
Although shut out of the Oscar nominations, Universal Pictures’ “Wicked: For Good” roared at the box office. The two-part “Wicked” franchise has fetched $1.3 billion in global ticket sales.
Comcast shares were up 2.9% to $29.24 on Thursday.
Business
Californian tech company to move headquarters to Florida
California quantum computing company D-Wave is moving its headquarters to Boca Raton, Fla., and opening a new research and development facility.
In an announcement this week, the Palo Alto company said its new office will be housed in the Boca Raton Innovation Campus before the end of this year. The 1.7-million-square-foot office facility, previously used by tech company IBM, is the birthplace of the personal computer, according to the campus’ website.
“The state offers a rich scientific and educational environment, a growing pool of highly skilled tech talent, and a vibrant spirit of innovation that made it attractive to D-Wave,” Chief Executive Alan Baratz said in a statement.
The company is among businesses that have recently opened new offices or moved out of California, underscoring the competition the state faces to attract more jobs.
California, home to companies such as Google, Apple and Meta, is known for being a major hub for the technology industry. California cryptocurrency startup BitGo recently said that it was moving to South Dakota.
The announcement comes after business leaders criticize a proposed ballot measure to tax billionaires to mainly fund healthcare. Under the Billionaire Tax Act, Californians worth more than $1 billion would pay a one-time 5% tax on their total wealth. The initiative still needs enough signatures to make it on the November ballot, but it’s already prompting criticism from some of California’s wealthiest residents who have urged companies to move.
D-Wave, founded in 1999, describes itself the world’s first commercial supplier of quantum computers. It also provides quantum computing systems, software, and services. Quantum computers are able to solve complex problems more quickly than a classical computer.
A company spokesperson said its decision to move its headquarters to Florida wasn’t related to the proposed billionaires tax and its executives haven’t publicly commented on the idea. D-Wave will still have a Palo Alto office and it also has a presence in Marina del Rey.
Cities try to lure companies to relocate their operations by offering tax breaks.
In January, the Boca Raton City Council approved a resolution that would allow a tech company — referred as Project Vernon — to be a “qualified applicant” for economic development incentives.
The resolution said that once the company, which turned out to be D-Wave, revealed its identity the city would move forward with completing an economic development agreement.
D-Wave would receive up to $500,000 as part of a relocation incentive. The new headquarters would result in the creation of 100 new jobs over the next five years in Boca Raton. The average annual salary for the jobs shouldn’t be less than $125,000, according to the resolution.
The company also considered relocating its headquarters and R&D facility to Tennessee and North Carolina along with staying in California, the resolution said.
The new Florida site will provide D-Wave a “bicoastal presence for system redundancy in the case of disaster recovery,” according to the news release about the new headquarters.
The company said it will install a quantum computer at Florida Atlantic University’s Boca Raton campus as part of a $20-million agreement.
D-Wave has more than 200 employees, according to its website.
The quantum market is projected to grow. It could reach roughly $100 billion by 2035 with most of the revenue growth coming from quantum computing, according to a 2025 report from McKinsey & Company.
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