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China Star Entertainment (SEHK:326) Stock Looks Richly Priced As Its 8.6x Run Continues
China Star Entertainment has logged very strong multi year share gains, so the key issue now is whether the current price can be supported by the value of assets on its balance sheet. For anyone looking at the stock today, the immediate question is how that share price lines up against its book value. Over the past 3 years the stock has returned about 8.6x. This puts a lot of weight on whether the underlying equity in the business justifies this kind of move when you compare it with the...
Senate rivals seek support from Alaska Native voters
The major candidates in Alaska’s U.S. Senate race are both casting themselves as strong voices on Alaska Native issues as they seek support from the key constituency ahead of the Nov. 3 election
Business People: Evereve names industry vet Sarah Clary to advise on creative
RETAIL Evereve, an Edina-based women’s fashion retailer, announced it has named Sarah Clary as advisory chief creative officer. Clary previously has led creative direction campaigns and brand strategy for Hill House Home, Veronica…
Police: Lancaster County health care worker assaulted
Incident occurred at WellSpan Hospital in Ephrata Borough, according to police.
'Not a one-person job:' Bernardsville explores exit from Bernards Health Department
BERNARDSVILLE - Concerns about costs have led borough officials to consider cutting off decades-long services from the Bernards Township Health Department and switching to the Somerset County Health Department.
One Of Steven Spielberg's Biggest Box Office Flops Is An Underrated Disney Movie
Steven Spielberg is one of the most prolific directors to still be working, and he's known for absolutely stunning films, but not every movie can be a hit.
3 comments | Progressive Democrats are closely watching four Senate...
Progressive Democrats are closely watching four Senate races in the upcoming midterm elections. Our politics reporter Kellen Browning explains why.
RJW Logistics to open second Northwest Arkansas office
Chicago-based RJW Logistics Group, which has a Bentonville office, plans to open an additional Northwest Arkansas office amid client growth and to support demand for a new logistics program offered...
Connections: Law firms hire attorneys for NWA offices
Two Little Rock-based law firms have hired attorneys for their Northwest Arkansas offices, and the Single Parent Scholarship Fund of Northwest Arkansas recently announced new board members. NEW HIRES Banking...
Connections: Law firms hire attorneys for NWA offices
Two Little Rock-based law firms have hired attorneys for their Northwest Arkansas offices, and the Single Parent Scholarship Fund of Northwest Arkansas recently announced new board members. NEW HIRES Banking...
Selena Gomez's vaping admission highlights hidden health risks doctors say millions face daily
Selena Gomez called vaping "stupid" after it altered her voice, but doctors warn the health risks go beyond vocal cord damage for millions.
ESMO: Roche touts ‘convincing’ phase 3 KRAS data after win over rivals
Roche has shed more light on its investigational KRAS G12C inhibitor's phase 3 victory over Amgen’s Lumakras and Bristol Myers Squibb’s Krazati. The open-label Krascendo 1 trial enrolled 338 people with previously treated KRAS G12C-mutated non-small cell lung cancer (NSCLC). Patients who had already received a KRAS G12C inhibitor or pan-KRAS/RAS inhibitor were excluded from the trial. Participants received either divarasib once daily, Lumakras once daily or Krazati twice daily. Roche announced back in July that divarasib had demonstrated statistically significant improvements in progression-free survival (PFS) and overall survival (OS), meeting the trial’s primary and key secondary endpoints. But the Swiss pharma had been holding back the detailed data until now. At the European Society for Medical Oncology (ESMO) Congress in Madrid, Roche revealed that median OS for the 167 patients who received divarasib was 17.7 months, compared to 12 months for the 171 patients who received Lumakras or Krazati. The benefit was similarly clear when it came to median PFS, which stood at 9.8 months versus 5.7 months, respectively. A total of 44% of patients receiving divarasib were alive without disease progression at one year, compared to 24% of the control group, according to Roche’s presentation. It was a similar story for the objective response rate, which came in at 58% for divarasib versus 32% for the control group, while median duration of response was 11.9 months versus 6.9 months. Stefan Frings, M.D., Ph.D., deputy chief medical officer at Roche Pharma, told Fierce that the data made for a “very comprehensive, strong package, which should be convincing to health authorities.” “It’s an important advance for patients with lung cancer,” Frings said in an interview at a Madrid hotel during the conference. “It's a second-line setting, and patients who receive divarasib benefit compared to the current first-generation KRAS G12C inhibitors by having far longer overall survival,” he continued. “They live longer. They have better progression-free survival, better response rates, and with a safety profile which is—if [anything]—even better,” he said. According to Roche, 4.8% of patients receiving divarasib discontinued treatment due to treatment-related adverse events, compared to 11.7% in the control group. Serious treatment-related adverse events were also less common with divarasib, at 7.8% versus 15.2%. Roche’s confidence in divarasib had been building even before this phase 3 success. The candidate had already shown better potency and selectivity than the incumbent KRAS G12C inhibitors Krazati and Lumakras in preclinical tests. After cross-trial comparisons suggested that the edge translated into better clinical outcomes, Roche axed a study comparing divarasib to the chemotherapy docetaxel and went toe-to-toe with Lumakras and Krazati. “We designed the drug on purpose with higher potency and better selectivity,” Frings explained. “So, based on preclinical models, we clearly knew it would be superior to the first generation.” “It’s honestly not so frequent that pharma companies go head-to-head,” he added. “But if you want to make a point, if you want to convince payers, prescribers and patients … then a head-to-head win is rather rewarding.” While Amgen and BMS reached the regulatory finish line first for KRAS G12C-mutated, locally advanced or metastatic NSCLC in 2021 and 2022, respectively, they have struggled to capitalize on their head start. Krazati brought in $55 million for BMS in the second quarter, while Lumakras delivered $111 million to Amgen. For its part, Roche is aiming for peak divarasib sales of 1 billion to 2 billion Swiss francs ($1.2 billion to $2.5 billion), according to Frings. The Big Pharma is currently recruiting patients into a phase 3 trial comparing divarasib plus Keytruda against Keytruda plus chemotherapy in previously untreated advanced or metastatic nonsquamous KRAS G12C-mutated NSCLC. Roche has previously suggested that sales in metastatic disease would account for most of the forecast. Frings was tight-lipped on the exact timeline for a regulatory filing but said the Swiss pharma is “certainly keen to get this to as many patients as possible around the world.” Roche has more RAS drugs coming up behind divarasib. The pharma has already launched phase 1 trials of a pan-RAS inhibitor called RG6505 and a KRAS G12D inhibitor dubbed RG6620 in solid tumors. Roche’s partner Chugai Pharmaceutical is also testing a pan-KRAS inhibitor called AUBE00. Roche has made a “deliberate effort” to test a range of RAS drugs, Frings said. “If you have many rare mutations and you are scrambling to find sufficient patients, a pan-RAS inhibitor makes a lot of sense,” he explained.
Nonprofit organizes ‘silkies’ hike to support military members’ mental health
Veterans, active military service members and community supporters recently gathered for a hike organized by a nonprofit dedicated to suicide prevention.
Jennifer Hawks explains why she should be California's State Treasurer
Jennifer Hawks, a candidate for California state treasurer, shared her qualifications and vision for the office in an interview on California Politics 360.
Timeline of the Capitol Annex project
Ashley Zavala looked back at the decade-long process of building the new offices for the governor and state lawmakers.
Apple Stores Reportedly Rolling Out New Anti-Theft System for iPhones
Bloomberg's Mark Gurman today reported that Apple is facing a growing problem where some people will buy iPhones or other products and either remove accessories from the box, open up the device and remove components, and/or remove the entire device, and then attempt to return the box hoping that the employee will not notice.
Google's next TV gadget may do much more than stream
A reported hardware overhaul could bring Gemini further into the living room.
Campbell County health and food inspections (10/16/26–10/22/26)
GILLETTE, Wyo. — The Consumer Health Services Division of the Wyoming Department of Agriculture conducts inspections of retail food establishments throughout Wyoming (where there is not a local health department that does inspections) to help ensure safety of Wyoming residents. Campbell County establishments are inspected at least once a year by the WDA. All of […]
University of Rochester Medicine Home Healthcare holds inaugural Hospice 5K
13WHAM ABC Rochester provides local news, weather forecasts, traffic updates, health reports, notices of events and items of interest in the community, local sports and entertainment programming for Rochester and nearby towns and communities including Greece, Victor, Pittsford, Penfield, Henrietta, Webster, Irondequoit, Fairport, Chili, Gates, Rush, Wheatland, Canandaigua, Farmington, Spencerport and Hilton.
After Fighting in Gaza and Battling PTSD, Shahar Varon Seeks a Voice In Israel's Mental Health Future
Soldiers and others suffering from post-traumatic stress disorder […]
NC business co-owner kills man ‘acting irrationally’ outside Zumba class, police say
A man “acting irrationally” toward patrons of a Zumba fitness class was fatally shot when he turned his attention to an armed business co-owner at the scene, according to investigators in western North Carolina. The confrontation occ…
Instacart Stock What Health Benefits Deal And $5 Million Settlement Mean
Instacart parent Maplebear has agreed to a US$5,000,000 settlement with U.S. authorities over past PERM hiring practices and has been selected by True Rx Health Strategists to power an employer funded healthy food benefit through Instacart Health Fresh Funds starting in 2027. The True Rx program positions Instacart within pharmacy benefit design and ties employer spend directly to clinically supervised food choices. The settlement adds compliance obligations, policy changes and monitoring...
Silicon Valley software engineer pay ranked against other US cities
Bay Area software engineers retain a 53% pay premium after adjusting for local prices, Levels.fyi found. Taxes aren't included.
31 'Brooklyn Nine-Nine' Memes That Would Win a Halloween Heist and Become the Ultimate Detective/Genius
These memes are noice!
Trump touts U.S. oil business making ‘hundreds of billions’
President Trump tells rallygoers in Georgia that the United States’ oil and gas business is making “hundreds of billions of dollars because of what’s happened in the Middle East,” and predicts that prices at the pump will “come way down.”
'All INdiana Politics': Engling, Ballard clash over restoring credibility to Indiana Secretary of State Office
INDIANAPOLIS — On Sunday’s edition of “All INdiana Politics,” Government Reporter Garrett Bergquist sat down with two candidates who are running for secretary of state, Republican Max Engling and independent Greg Ballard. Both candidates outlined contrasting approaches to restore credibility to an office plagued by controversy under outgoing Secretary Diego Morales. They both presented different […]
Argument over purchase turns physical; suspect pulls gun at South Side business
KABB Fox News 29 San Antonio provides local news, weather forecasts, traffic updates, investigations, notices of events and items of interest in the community, sports and entertainment programming for San Antonio and nearby towns and communities in South Central Texas, including Bandera, Boerne, Carrizo Springs, Castroville, Cibolo, Converse, Crystal City, Cuero, Del Rio, Devine, Eagle Pass, Floresville, Fredericksburg, Goliad, Helotes, Hondo, Kerrville, Live Oak, New Braunfels, Pearsall, Pleasanton, Poteet, Poth, Sabinal, San Marcos, Seguin, Schertz, Somerset, Universal City, Uvalde, Windcrest.
Adam Schiff responds to DOJ’s Alaska threat: ‘it’s Alaska’s business’ to run elections
In an exclusive interview with Meet the Press, Sen. Adam Schiff (D-Calif.) says “it's not the federal government's business to run Alaskan elections,” after the Justice Department sued to block certification of Alaska’s election results if Sen. Dan Sullivan loses, due to another candidate with the same name appearing on the ballot.
Business co-owner kills man ‘acting irrationally’ outside Zumba class, NC police say
The business co-owner was carrying a firearm, Spindale police say.
Calvert liquor store gets license transfer; other business fined
New management will be taking over a liquor store in Dunkirk sometime in November.
DOE expands tribal energy funding to $125M, selects 63 projects
The Department of Energy expanded a $50 million tribal energy funding opportunity to more than $125 million after tribal applications sought roughly 10 times the initial amount. The agency selected 63 tribe-led projects across 16 states for what it described as the largest single investment in the Office of Indian Energy’s history. The projects include […]
How to build a police state
To understand where Trump is trying to take the US, we should look to the authoritarian playbook of his favorite ally: El Salvador’s Nayib Bukele
At Issue: Oct. 25 focuses on political advertisements, Rep. John McGuire candidate profile
In less than two weeks, the votes will be in and you will know who will represent your hometown in Congress. But until then, the political advertisements will target you on every device and platform.
Not sure who to vote for? Here are the main political parties ahead of Israeli elections
From Netanyahu’s Likud to Eisenkot’s Yashar and Winter’s Amcha Israel, the contenders differ on security, military service, religion and the courts
MEDIA ADVISORY – MONDAY – HEALTH EXPERTS CALL OUT HARTFORD AS AN ‘ASTHMA CAPITAL’
FOR IMMEDIATE RELEASE Contact: Joe O'Leary | Joe.OLeary@cga.ct.gov | 508-479-4969 MEDIA ADVISORY – MONDAY - HEALTH EXPERTS CALL OUT HARTFORD AS AN 'ASTHMA CAPITAL' Who: State Senator Saud Anwar, Senate Chair of the Public Health Committee; Dr. Mark Mitchell, Environmental Justice Leader; the Executive Director and New England Executive Director of the Asthma and Allergy Foundation of America; representatives from…
What voters need to know about the races for Florida’s Cabinet positions
The Florida Cabinet consists of the attorney general, chief financial officer and agriculture commissioner.
Former Minecraft lead, Xbox veteran and COO Helen Chiang "fired" for "policy violations"
A new report suggests that Helen Chiang, recently appointed as Xbox Chief Operations Officer, was terminated for "policy violations," although there's no word on exactly what.
Unfair Links Launches a Link Building Service for Local Backlinks and Google Business Profile Matched Links
Unfair Links Launches a Link Building Service for Local Backlinks and Google Business Profile Matched Links Unfair Links Launches a Link Building Service for Local Backlinks and Google Business Profile Matched Links New York City, USA, Oct. 25, 2026 (GLOBE NEWSWIRE) -- Founded by Rollo Unden and Oliver Fish, Unfair Links builds local backlinks matched to a business's Google Business Profile, country and language, and is now taking sign-ups for its beta waitlist. Unfair Links, a new link building
CEO SUNDAY: Atomic Wings CEO shares his journey from Wall Street to the restaurant business
Atomic Wings CEO Zak Omar shares how his father’s influence, a leukemia diagnosis and a commitment to customer service shaped his path to building a 35-location restaurant chain.
Franciscan Health, Tonn and Blank Plan Michigan City Medical Office Building at Former Marquette Mall
Franciscan Health, in partnership with Tonn and Blank Construction, is planning a medical office building on a portion of the former Marquette Mall property. Franciscan Health plans to operate a …
Antarctica’s “Doomsday Glacier” Could Raise Sea Levels Twice As Much as Scientists Feared
Even without further warming, Thwaites Glacier could contribute twice as much to sea level rise by 2100 as previously estimated, according to a revised ice sheet model. Thwaites Glacier in West Antarctica has been retreating and thinning rapidly, while satellites show substantial acceleration in its ice flow. Traditional ice sheet models have depicted slower movement,
What we learned about our politics in the 2026 Texas elections
From the governor's race to local offices, the culture wars gave way to public education and property taxes.
Better rural health takes more than medical care
Ballad Health connects rural patients to social services, reducing emergency visits and lowering health care costs.
Latino businesses still fearful amid ICE sightings 8 months after Operation Metro Surge
A handful of new Latino eateries have opened on Payne Avenue, as others have slashed hours or remain closed certain weekdays.
KIII 3 News
KIII 3NEWS is the ABC affiliate in Corpus Christi, Texas, operating to serve, inform and improve communities in the Coastal Bend. The station began broadcasting in South Texas on May 4, 1964. Today, KIII 3NEWS dominates one of the fastest-growing markets in Texas. The station’s service to the community and commitment to local news and weather coverage has consistently made it the Coastal Bend's news leader for decades.
Madison Mayor Drops Reelection Bid, Cites ‘Toxic Political Culture’
The 'price of serving has become too high,' says Mayor Satya Rhodes-Conway.
My Co-Worker Is Losing It Over My Religion
Plus: Reader responses to a woman returning to the office after two decades of self-employment.
Job-based health plan costs rise, with little relief in sight
Nearly half of large employers have increased the amount their workers must pay for health insurance — a response to rising premiums.
The boss whose twice-bust business appears to be back despite £3m debts
Andrew Woosnam took millions from his companies before leaving creditors including HMRC out of pocket
10 African countries with the highest fuel prices in October 2026
Rising fuel prices are doing more than emptying motorists pockets across Africa; they are increasing business costs and making everyday essentials more of a financial challenge
Instagram Launches Apple TV App With Reels and More
Instagram is now available on the Apple TV, bringing Reels, longer videos, and live shows via the platform to Apple's streaming device for the first time. The Instagram app for Apple TV lets users watch content from their favorite creators, discover videos, and resume watching across devices. Instagram describes the app as a way to watch together with friends and family, extending its video experience to the television. The app appears to have launched on October 23.
Clemson HC Dabo Swinney Puts Coach on Notice, Offense 'Disturbing'
After a deflating loss to Virginia Tech, Swinney confronts roster gaps and coaching failures as the Tigers' playoff hopes vanish and the offense faces a critical crossroads.
Nobody Does It Better: Steven Reineke, Lena Hall and The New York Pops Bring James Bond to Carnegie Hall
James Bond has always understood the importance of making an entrance. Whether emerging from the shadows in a perfectly tailored tuxedo, ordering a martini, or escaping certain death with an impossibly beautiful woman at his side, 007 has spent more than six decades making danger look positively delicious. But perhaps his greatest accomplice has always […]
Health Inspection: live vermin found at sports bar in Citrus Heights
A local sports bar in Citrus Heights was hit with several health code violations last week that forced the establishment to close briefly while undergoing sanitation and pest control services...
DAVE RAMSEY: Will the dream (car) become reality?
This week’s installment of down-to-earth personal finance advice from Dave Ramsey and the Dave Says column.
READERS' CHOICE | Impact Realty Group makes its mark with Best Small Business win
A locally owned and operated real estate brokerage has been named Best Small Business in the 2026 Texarkana Gazette Readers' Choice Awards.
Singapore Airlines to Introduce Next-Generation KrisWorld In-Flight Entertainment from 2027
Singapore Airlines will introduce its next-generation in-flight entertainment system, KrisWorld, from 2027 onward. The system will be installed on a total of 41 refurbished Airbus A350-900 and A350-900ULR aircraft, as well as on Boeing 777-9 aircraft scheduled for future delivery. It will feature 4K high-resolution touchscreens, spatial audio, noise-canceling headphones, and Bluetooth connectivity for passengers’ personal headphones. More than 2,500 items of content, including movies, television programs, music, and podcasts, will be updated monthly. The system will also include a “Wellness Planner” featuring sleep and meditation tracks, breathing exercises, and stretches that can be done at passengers’ seats. In addition, Starlink high-speed in-flight Wi-Fi service will be progressively introduced from […]
Which AMD CPU Is Equivalent To The One In The PlayStation 5 Pro?
Exploding console prices have led gamers to look for an AMD CPU that's equivalent to the one in the PlayStation 5 Pro. The closest match is the Ryzen 5 5600x.
FAU star receiver achieves historic feat with 5-TD performance
The FAU Owls set themselves apart in college football history following a spectacular performance from Easton Messer in their 51-49 win over the Rice Owls on Saturday afternoon. Messer is going through the final season of his collegiate career, his second with the Owls. He shines as one of the best receivers in the nation, ranking high with a lot […] The post FAU star receiver achieves historic feat with 5-TD performance appeared first on ClutchPoints.
Black Power Marketplace highlights Black-owned businesses in Rochester
Rochester, N.Y. — The Community Justice Initiative held the Black Power Marketplace, which featured local vendors that offered food, clothes, art, wellness serv
On the agenda: Chevron health risk findings, gun violence study and 23rd Street safety
The Richmond City Council meets Tuesday, October 27, to hear the Bay Area Air District's health risk assessment of the Chevron refinery, consider competing traffic safety proposals after two pedestrian deaths on 23rd Street, and hear a presentation about the city's Office of Neighborhood Safety. A special meeting
How Much Would It Cost To Build A PC That Can Compete With The PS5 Pro?
The price of the PS5 Pro continues climbing. If you're going to shell out that much, maybe you should consider building a similar PC. How much would that be?
Sullivan, Peltola seek support from Alaska Native voters ahead of crucial Senate race
The major candidates in Alaska’s U.S. Senate race are both casting themselves as strong voices on Alaska Native issues as they seek support from the key constituency ahead of the Nov. 3 election.
Sullivan, Peltola seek support from Alaska Native voters ahead of crucial Senate race
The major candidates in Alaska’s U.S. Senate race are both casting themselves as strong voices on Alaska Native issues as they seek support from the key constituency ahead of the Nov. 3 election | WWJ Newsradio 950
Popular cannabis sleep gummies may have a hidden dark side
A cannabis-derived ingredient commonly found in sleep gummies may be more habit-forming than previously thought, with new research showing that repeated exposure caused tolerance and withdrawal symptoms in mice. Scientists warn that CBN may carry risks similar to THC, although its long-term effects in humans remain largely unknown.
Cubs Have Easy Decision To Make About Jacob Webb
Coming off another dominant season as a reliable high-leverage arm, the veteran right-hander’s affordable $2.5 million club option makes retaining him a clear-cut choice for Chicago's bullpen.
Pittsburgh Penguins Face Another Key Absence Against Predators
The Pittsburgh Penguins are gearing up to take the ice on Saturday and will be without one of their key skaters against the Nashville Predators.Per Pens Inside Scoop, “Dan Muse said that Evgeni Malkin (illness) will not play tonight, so Avery Hayes is in. And Arturs Silovs will start in goal against Nashville.”The former is […] The post Pittsburgh Penguins Face Another Key Absence Against Predators appeared first on HEAVY.
Xbox Reportedly Bungled $500 Million Netflix Deal
According to industry insiders, newly appointed Xbox CEO Asha Sharma overplayed cross-media potential with recent Netflix exec Peter Rice to the tune of $800 million
Four injured after car crashes into Hendersonville business, officers say
Four people were taken to a hospital after a car crashed into a business Saturday morning, police said.
Proposition 4 asks if voters support public funding in elections
Currently, tax dollars cannot be offered to politicians to help them run for office
Man dead after running into Meriden business for help following stabbing
Police believe the stabbing incident likely occurred on Pratt Street on or near the Green.
Crushed between diamonds, ice changes shape, a clue to what lies inside Neptune
Physicists squeezed water to about 35 million PSI and saw its atoms rearrange into a less orderly pattern, a clue to Uranus and Neptune.
Los Angeles health authorities report 2nd second rabies-positive raccoon
In a follow-up on the report a rabies-positive raccoon found in Los Angeles County, the first in more than 5 decades, the LA County Department of Public Health is investigating a second rabies-positive raccoon found in the Westlake Village area of Los Angeles County. Public Health has confirmed that the first raccoon was positive for a variant of rabies typically found in bats. Strain testing for the second raccoon is currently pending. The second rabid raccoon was found in a backyard in the vicinity of where the first raccoon was reported and appeared sick and aggressive. No residents or pets were exposed to the raccoon. Two people at a worksite may have been exposed to the raccoon and are receiving recommended follow-up for rabies post-exposure prophylaxis. The World’s Deadliest Viruses Prior to these detections, the last confirmed rabid raccoon in Los Angeles County was detected in 1973, when the skunk variant (strain) of rabies was still present in the County. That strain has not been detected in Los Angeles County since 1979. In 2014, a skunk infected with the bat variant of rabies was detected in Long Beach. “The detection of rabies in another raccoon is an important reminder to never touch, handle, or feed any wild animals, even when they appear healthy,” said Muntu Davis, MD, MPH, Los Angeles County Health Officer. “Always keep a safe distance from wildlife and contact your local animal control if you encounter an animal that appears to be sick, injured, or behaving unusually. It is also critical to ensure your pets are up to date on rabies vaccination so they are protected before any potential exposure. Keeping your pets vaccinated is one of the most important steps you can take to protect your entire family.” Outbreak News Today is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Subscribe
She’s Eyeing a $4,500 Mental Health Rage Retreat. Calling It Therapy Doesn’t Make It Medicare-Covered
A $4,500 rage retreat lists licensed therapists on staff and promises room to process grief and anger, but the word "therapy" on a brochure and Medicare coverage are two very different things.
Oakland County business accused of making false statements to obtain federal loan agrees to $1M+ settlement
A Wixom, Michigan, business accused of making false statements to obtain a loan it was ineligible for has agreed to pay a settlement of just over $1.5 million after it was sued by the federal government, according to the Department of Justice.
Jesse Welles sang about politics and insects — and covered Black Sabbath and Bob Dylan
The rapidly rising "Join ICE" protest singer played solo and with a band on North Broad Street, and covered Bob Dylan, Black Sabbath, and Creedence Clearwater Revival.
Google gives Fitbit a major health upgrade with one catch
Some of its most advanced insights require a $9.99 subscription.
An electronic health record tool for exercise prescription may reduce fall rate among older adults
In a large randomized clinical trial among 22 primary care practices, use of an electronic health record-integrated clinical decision support tool known as…
Netflix’s Leadership Shake Up…Explained
(Welcome to the “Most Important Story of the Week”, my bi-weekly strategy column analyzing the most important (but often not buzziest) news story of the last two weeks. I’m the Entertainment Strategy Guy, a former streaming executive who now analyzes business strategy in the entertainment industry. Please subscribe.) Well, I had a simple article planned for this week. Called “Whoa, I Missed It!”, I’d take a gander at a few important-but-under-the-radar stories I didn’t cover while I wrote about all things “Skydance. (Formerly known as “the saga of Netflix trying to buy Warner Bros., but not Discovery, then Paramount-Skydance bought all of Warner Bros. Discovery”.) Alas, that article will have to wait. Netflix made news. Ironically, my “Whoa, I Missed It!” article would have mostly been about “content” strategy decisions, which is also what today’s article is about. But instead of the entire industry, this article will only cover Netflix’s decision to upend their film and TV content teams. Just that! So that’s the full topic of the day. I’m going to tackle the issue in the opposite direction of the way “stuff” flows: uphill. We’ll start at film, then move onto TV, and then onto the CEOs themselves, and the strategy questions that still remain. But we start with the numbers driving this. Let’s dive in. Subscribe Most Important Story of the Week - Netflix Upends Their Corporate Hierarchy I’ve got a lot of thoughts, but we’ll start with the most common response to yesterday’s article. Let’s Talk Stock Price More than one person, responding to what I published two days ago, pointed out that, well, actually, the thing driving Netflix’s actions is this: In short, stock price! Even if Netflix isn’t obsessed with their own share price—they probably are, but, for the record, my strategic advice to every CEO is to absolutely ignore stock prices, which will, ironically, probably help the stock price long-term—most everyone thinks they are. By the way, I prefer market capitalization to stock prices, because it’s a more apples-to-apples way to compare companies: But there’s an even better way to look at it, and it kinda casts some doubt on the entire push here: price-to-earnings. I have a long list of articles that I wish I had written, and chief among them is an article titled, “Am I Still a Netflix ‘Bear’?” meaning someone who thinks Netflix’s stock is overvalued. As of last summer, Netflix had solved their biggest problem—which for me (circa 2019) was the lack of free cash flow—but their stock was CRAZY overvalued. That’s this chart here: Why did Netflix’s stock price increase to a price-to-earnings ratio of 50 last summer? What financial metric changed so quickly? Nothing. Given that, historically, mature entertainment companies average 10 to 20, with 16 being the average, that increase made little sense. Netflix’s stock swoon these last eight or so months wasn’t irrational; the stock price rise last year was. So if you want a really hot Netflix take, here it is: Netflix’s stock price has been going down because the financial industry recovered its senses, not because of any strategic mistake. Yes, that would imply that cleaning house may have been a mistake. That’s why the charts yesterday are so important, because they show that Netflix did have a strategic problem (a lack of hits) and that’s what they moved to address. (One could also argue the industry drastically overrated Netflix’s growth prospects, but that’s a financial industry problem, not a Netflix strategy problem per se. Some growth estimates are just crazy. *cough* AI *cough*) Now, the last time Netflix’s stock price crashed—circa 2022—it gave them an opening. I’d argue Netflix insiders knew they needed to expand post-COVID-19 crisis, adding advertising, cracking down on password sharing, and dabbling in sports. But if they had done that when their stock price was high, it would give folks a reason to second guess their strategy. (Arguably, last year, when Netflix pursued the Warner Bros. merger, it gave the industry a chance to review their business.) Instead, after the 2022 fall, they had the opening to make strategic changes. We may see Netflix pivot again following this latest slide. For example, the “binge versus weekly” conversation is alive and well again. Same for expanding into theaters even more. And adding both linear channels and streaming bundles. And maybe more either social, user-generated, vertical, or creator content. But the first shift came with who is making the content calls. A Message from Our Sponsor Last winter Pulp Fiction was on Netflix. For those same 90 days, it was also free, with ads, on Pluto TV and the Roku Channel. That is not a glitch, and it is not rare. The title has run on 20 different US streaming services since 2019, across 80 separate windows, and for more than 600 of those days it sat on a paid subscription service and a free ad-supported one at the same time. Almost nobody can see this, because when a title leaves a service, the record that it was ever there tends to leave with it. Reelgood keeps that record, dated to the day rather than the month: 4MM+ movie, show and episode titles across 300+ services globally, with timestamped arrivals, departures and moves across SVOD, AVOD, TVOD and vMVPD. Licensing teams price against every prior window. Rights teams check what a licensee actually delivered, and when. Pick a title you think you know: data.reelgood.com/title-availability Film - Dan Lin Want to know why I don’t opine on individual film or TV executives, especially new hires? Dan Lin. As I always caution, it’s really, really, really tough to predict which executives will succeed in new roles and which won’t. The successful head of co-production/finance partner, Rideback, Lin was considered for the head of DC Studios job before taking the job as the head of Netflix. By all accounts at the time, this was a smart hire. (That’s my read of the news coverage anyways.) But now that Netflix has fired Dan Lin, we got a slew of news stories about how he was doing a terrible job. In sports media, Bryan Curtis, new Substack writer/podcaster from The Ringer, calls this the “now you tell us” story, when you only hear the bad news after a star athlete leaves a sports team. In this case, now they tell us that Dan Lin was bad with talent after he got kicked out the door. So was Dan Lin a flop? It’s actually tough to say. While film moves faster than TV, even two years isn’t really enough time to evaluate a person’s output. The new head hasn’t really taken control. As Emily Horgan noted, it takes much longer than two years to produce animated films, so yeah, it’s definitely too early to judge in that domain. As for live-action films, I just published an article by Brandon Katz called “Netflix’s Summer of Bummer”, but I’d point out Netflix had a bad summer two years ago too. Arguably, their best summer came from KPop Demon Hunters last year and Happy Gilmore 2, the latter of which I saw credited to Lin. Then, the stories came out that Dan Lin clashed with talent, both Ben Affleck and Greta Gerwig, classic “now they tell us” factoids to explain his firing. This may have been true, but also should have been expected given that he was given the mandate to bring budgets back in check, especially after Rebel Moon. So if he made folks upset, well, that’s what he was hired to do! But also, he was described as “well-liked” at his hiring! In that case, I’m a bit sympathetic to Lin, since he may have been undercut by senior leadership, as often happens. Basically, a CEO hires a subordinate to be their “bad cop” and keep budgets in check, but then when talent complains, the CEO ends up undercutting them. That’s how I think you end up with a Narnia movie as expensive as any of the other flops, along with a film executive the town no longer likes. As a result, I think that Netflix is now executing a classic “hire the opposite” move by hiring Peter Rice. This phrase comes from my experience following football and basketball coaching decisions, where teams generally hire the opposite of who they just had. If you have an offense-minded head coach, hire the defensive guy. Or in college football, if you have a strong recruiter, then you pivot to an “X’s and Os” type of guy. Or in pro basketball, if you have a very analytically minded coach, you hire the player-friendly guy. I see that here. After dropping Scott Stuber—arguably a talent-friendly executive with lax budget control—Netflix hired the business guy to keep costs in check. Now Netflix is pivoting back to Peter Rice and presumably a more talent-friendly regime. (Disney, by the way, has done this twice: hiring business guys to succeed talent-friendly Bob Iger. It didn’t work out last time.) When it comes to Peter Rice…we’ll see! Maybe he works out, but maybe he doesn’t. I’d actually say the biggest problem is that Netflix still hasn’t solved its “IP Problem”, in that they don’t own much IP, so they just have a lower hit rate. The new executive won’t solve that. (Though buying Lionsgate would help.) Share “Content” - Bela Bajaria I almost published yesterday’s article after this column, but ended up flipping the order, because it told the story so well. So if you want the data for why Netflix is looking at TV to fix their problems, it’s in that article, this graph in particular: I know I just wrote that it’s often hard to judge executives, but Bajaria ran TV for six years and film for three and a half more. That’s more than enough to judge hit rates, and Netflix needs more hits. That’s the story. Since 2023, Netflix hasn’t had as many hit shows as it used to, and many of its previous power house TV shows have ended their runs (Stranger Things most of all). Also, many shows from 2020 to 2022 probably pre-dated Bajaria’s tenure. (That said, one thing may have been outside of Bajaria’s control, which I explain below.) Let’s lump some content strategy thoughts about Netflix and TV into one place: We’re just getting started with this issue, but the rest is for paid subscribers of the Entertainment Strategy Guy, so if you’d like to find out… Why I partially blame Squid Game for Netflix’s latest troubles… What is “the football trap”... Why it might not be the TV shows or films’ fault at all… What change I don’t think Netflix will make... How Bela Bajaria evolved Netflix’s TV strategy in smart ways… Whose departure likely submarined Bajaria’s final few years… One sneaky explanation for Netflix’s content struggles... And a whole lot more... ...please subscribe! We can only keep doing this great work with your support.
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