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David Greenbaum replaces Sean Bailey as Disney movie head
Sean Bailey, the longtime Walt Disney Co. executive who oversaw the studio’s live-action movies, is stepping down, the Burbank-based entertainment giant announced Monday. David Greenbaum has been appointed to the newly created role of president of Disney live action and 20th Century Studios, and will oversee film projects for both units spanning theatrical and streaming platforms. Bailey is exiting his position after 14 years at the helm.
The high-level change at the top of Disney’s live-action film unit has been rumored, particularly after the rocky performance of some recent films. During his tenure, Bailey oversaw a string of blockbuster live-action remakes, including “The Little Mermaid,” “Aladdin,” “Lion King,” and “Beauty and the Beast.” Most of those films topped $1 billion worldwide in box office receipts, while last year’s “The Little Mermaid” raked in $560 million (it struggled in overseas markets).
But despite high-profile successes, Bailey’s division was behind last year’s box office flop, “Haunted Mansion,” inspired by the vaunted Disneyland theme park ride. Bailey’s contract was due to expire next January, and it was reported that he had discussions with Netflix executives taking the top film job there. While Bailey is not expected to make the switch to Netflix’s Sunset Boulevard-based campus, revelations of the talks prompted considerable reflection by Bailey and Disney’s top brass about the studio’s live-action film strategy and pipeline, according to a knowledgeable person who was not authorized to comment publicly.
Bailey, who wasn’t interested in extending his contract, will return to his roots as a producer of “Tron: Ares,” for Disney, the company said in its statement. The new leader, Greenbaum, most recently served as president of Searchlight Pictures, where he jointly managed the studio’s film and TV projects with Matthew Greenfield, who will continue in his role as Searchlight Pictures president. Disney acquired the specialty label as part of its $71.3-billion purchase of 21st Century Fox properties from Rupert Murdoch nearly five years ago.
Searchlight has had plenty of awards success, and Greenbaum helped guide dozens of feature films, including Academy Awards winners “The Shape of Water” and “Nomadland,” to the big screen. He was also involved in shepherding Yorgos Lanthimos’ “Poor Things,” which currently is nominated for a best picture Oscar. Greenbaum was also involved in the making of past standouts such as “The Menu,” “The Favourite,” “The Grand Budapest Hotel” and “Black Swan.” Before joining Searchlight more than a decade ago, Greenbaum was a development executive at Miramax Films.
“David has an incredible creative sensibility and eye for film, and he has built a reputation as an exceptional leader and creative executive, as proven by his track record at Searchlight Pictures and deep relationships throughout the industry,” said Alan Bergman, co-chairman of Disney Entertainment, in a statement. “I’m thrilled that he’ll be taking on this new and important role. We’ve had the great fortune to have a strong creative leader in Steve Asbell at 20th Century, and I’m excited for him to work closely with David as we take a more strategic look across both brands from a creative and operational standpoint. I also want to thank Sean Bailey for his many contributions and leadership over his tenure at Disney.”
Bailey, in a statement, said it was a good time to move on and wished Disney Chief Executive Bob Iger, Bergman and others “the very best for a bright future.” “These 15 years at Disney have been an incredible journey, but the time is right for a new chapter,” Bailey said. “I’m deeply grateful to my exceptional team and proud of the slate and history we’ve built together. I joined Disney while producing Tron: Legacy, so it seems fitting that I will have the opportunity to work on the latest Tron as I depart.” Netflix has not named a replacement for its film chief, Scott Stuber, who last month announced his departure from the streamer. A Netflix spokesperson wasn’t immediately available for comment.
News
Is now the right time to invest in gold as prices have cooled?
The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.
This lull in gold’s price may represent an investment opportunity.
In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?
Compare your gold investment options among leading brokers now.
Gold prices have cooled. Should you buy in now?
With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:
Prices may rise again
If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.
But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.
Add gold to your portfolio now before prices have a chance to rise.
You may be able to make a quick profit
Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.
Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.
There are other benefits of investing in gold
There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:
- Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
- Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.
The bottom line
Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.
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