NBCUniversal is announcing a round of layoffs. Layoffs Explained Business Insider reports that nearly 12 U.S.-based employees on the global streaming product team will be laid off, in addition to dozens more who could be impacted internationally, according to an employee. For those who will be laid off internationally, a consultation process is expected, per another source, the outlet noted. The two individuals said the layoffs will specifically affect employees who worked at the South African streamer Showmax, which has released works including “Spinners,” “Catch Me a Killer,” and “Khaki Fever.” The platform had “substantial annual losses,” according to Deadline. Showmax Being Shutdown Showmax was co-operated by NBCUniversal and French broadcaster Canal+. This came after a $2 billion deal in September 2025 for Canal+ to acquire Showmax parent company MultiChoice, according to a separate Deadline article. Now, Showmax is being shuttered. Canal+ called the venture an “expensive...

For Justin Laboy, it’s all about ownership. Laboy was raised as the youngest of five siblings in Queens, NY, and his lived experience made him competitive and highly motivated, he shared in an interview with AFROTECH™. He admitted he didn’t have much growing up, but sports became his roadmap to opportunity. He played basketball at a private high school and later at ASA College during the 2011–2012 season before a brief stint with KK Pelister Bitola Basketball Club in Macedonia. When Laboy returned home from playing overseas, he began promoting parties at New York nightclubs that often sold out. He was making several thousand dollars a week and learning the ropes of marketing in the process, he told AFROTECH™. “To get people to an event is difficult … I was able to convince people to do that … I’m really good at gathering people and starting conversations,” he noted. Revolt Being a gatherer also translated into his online presence. In the wake of the COVID-19 pandemic, Laboy shared...

Byron Allen is now an investor in Starz. Allen is a serial investor and businessman with an extensive portfolio that includes The Weather Channel. He acquired the company for $300 million in 2018 through his company, Entertainment Studios, as AFROTECH™ previously reported. Allen also owns TheGrio, a media company covering breaking news, politics, lifestyle, and entertainment centered on the Black community, according to its website. Per information on Allen Media Group’s website, Allen has one of the largest cable network portfolios in the industry, which includes Comedy.Tv, Cars.TV, ES.TV, JusticeCentral.TV, MyDestination.TV, Pets.TV, Recipe.TV, Local Now, and more. AOL also reports that Allen owns 27 broadcast television stations affiliated with ABC, NBC, CBS, and Fox across 21 U.S. markets, while his television networks collectively reach nearly 300 million subscribers. In 2025, Allen sold 10 local TV stations to Gray Media for $171 million, according to Deadline. Starz Allen is...

Frances Tiafoe emerged from humble roots to become one of the most electrifying figures in American tennis . He turned pro in 2015 and quickly made his mark, winning his first ATP Tour singles title in 2018 at Delray Beach. In doing so, he became the youngest American man since Andy Roddick to claim then title. Since then, Tiafoe has won three ATP singles titles and delivered the kind of performances that inspire fans and sponsors around the globe. The athlete has carved out standout moments at tennis’s biggest stages, accounting for a multimillion-dollar net worth that encompasses brand and sponsorship deals , and more. He also reached the semifinals at the US Open in both 2022 and 2024, advancing to the quarterfinals at the Australian Open , French Open, and the fourth round at Wimbledon . His dedication to the sport is the fuel behind his growing financial empire. What Is Frances Tiafoe Ranked In Tennis? Long before Tiafoe was serving sets and tearing nets, he was born to humble...

Tisha Campbell is a versatile American actress and singer. She’s known for her charismatic presence and enduring career in television and film . Rising to fame in the late 1980s and 1990s, Campbell became a familiar face through iconic roles on popular sitcoms like “ Martin” and “ My Wife and Kids .” Her “Martin” character, Gina Waters-Payne, has spawned an infinite number of catch phrases, fan recreations, and internet trends. Beyond her acting career, Campbell has also showcased her singing talents and ventured into producing. Her consistent work across different spheres of entertainment has established her as a respected figure in Hollywood. It has also opened up numerous avenues for financial growth. Since Campbell has fans all over the world, it’s only natural that many of them are wondering what her financial figures look like in 2026 and beyond. Here’s a detailed look into Campbell’s career trajectory, business ventures, and earnings. Tisha Campbell’s Early Life And Career...

Whether you know him from the “Matrix” film franchise or his more recent stint as Bowery King in “John Wick,” Laurence Fishburne has probably lit up a screen in your vicinity. Over the course of the last five decades, the Academy Award nominee has collected numerous accolades, respect from his peers, and love from millions of fans. During his career, Fishburne has also made a pretty penny from his work. He managed to pull in millions in contracts because of his prolific screen work and ability to diversify his finances. With the brand deals, marketing partnerships, wise real estate investments , and more, Fishburne touts a multimillion dollar net worth. His earned wealth is reflective of his filmography and attention-grabbing gravitas. What Is Laurence Fishburne’s Ethnicity? Long before Fishburne was taking roles and setting goals, he was born to a humble Augusta, Georgia family. Fishburne is the son of two hardworking blue collar African Americans. His mother, Hattie Bell, served...

Timothy “Timbaland” Mosley stands among the most influential producers and artists in modern music. He built a legacy crafting futuristic beats and genre-defining sounds that reshaped hip-hop, R&B and pop. His credits include Aaliyah ’s “One in a Million,” Missy Elliott ‘s “Supa Dupa Fly,” Justin Timberlake ’s “FutureSex/LoveSounds” and “The 20/20 Experience” albums, and Nelly Furtado’s “Loose” album. He has worked with icons, such as Jay-Z , Beyoncé , Drake, Madonna and Ludacris, while building his own chart-topping career as a solo artist. Some fans have gone so far as to call Timbaland the defining architect of the 2000’s musical landscape. Since his music and output has been so impactful, it makes sense that many fans have begun to wonder what Timbaland’s net worth is today. This is especially interesting because the recording artist has slowed his output in recent years. It has left some fans to wonder that the mogul has blown through much of his fortune. Luckily, Timbaland...

Group Black is facing another lawsuit. As AFROTECH™ previously reported, Group Black launched in 2021. Its founders, Richelieu Dennis, Bonin Bough, and Travis Montaque, were on a mission to invest in Black-owned media, which led to a $75 million commitment from GroupM, under a wider goal to deploy at least $500 million by the end of 2022. Group Black was described as a “first-of-its-kind media collective and accelerator, rooted in the advancement of Black-owned media properties,” in a news release. Its founding member companies were Essence, Holler, PlayVS, Afropunk, The Shade Room, and Baller Alert. “Group Black is providing a real, tangible way for Black ownership to take root and thrive in an environment that has traditionally excluded or marginalized Black ownership,” said Dennis in the news release. Montaque commented, per the release: “We started Group Black to infuse diversity into the next generation of creativity and storytelling, and create scaled solutions for brands. The...

Veteran media executive Michele Ghee is stepping into a new leadership role. Ghee has worn various hats in the media industry and has managed more than $1 billion in revenue throughout her career, according to Deadline. Her resume includes roles at CNN (director of multicultural sales); BET (vice president of national ad sales and later senior vice president); Ebony & Jet (CEO); and TheGrio (president), per her LinkedIn. Most recently, she served as chief content officer at Essence Communications and is founder of the tech and content agency Expectant Media. Ghee has now officially left her post at Essence as Expectant Media has been acquired by PlayersTV, the first athlete-owned media network and content provider, per Deadline. PlayersTV is backed by more than 70 athlete investors, including Chris Paul, as AFROTECH™ previously reported. Ghee will also assume the role of president of PlayersTV, effective immediately, Deadline reports. She had been serving on the PlayersTV board for...

A vote has ruled in favor of closing the Corporation for Public Broadcasting (CPB), per reports. Corporation For Public Broadcasting The CPB was established by Congress through the Public Broadcasting Act of 1967 to help fund PBS, NPR, and more than 1,000 public television and radio stations with the overarching goal of informing and empowering the public, according to information on the organization’s website. CPB reported that in the 2025 fiscal year, it supported 386 radio grantees and 158 television grantees, 244 of which were described as “rural.” Furthermore, CPB shared that it directed more than 70% of its federal funding to local public media stations, with 5% allocated towards operations . Republicans Claims Against CPB As The Guardian reports , Trump and Republicans have long argued that CPB was biased. In April 2025, Trump drafted a memo to Congress, stating that NPR and PBS “spread radical, woke propaganda disguised as ‘news,'” per the outlet. Slashing funding for the...

Warner Bros. Discovery Inc. has turned down Paramount’s $108 billion bid. As AFROTECH™ previously told you, Netflix agreed to acquire Warner Bros in a deal with a total enterprise value of approximately $82.7 billion (equity value of $72.0 billion). The boards of directors for both Warner Bros and Netflix are in favor of the deal. Netflix states the agreement would position it to define the “ next century of storytelling.” “For more than a century, Warner Bros. has thrilled audiences, captured the world’s attention, and shaped our culture. By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come,” President and CEO of Warner Bros. Discovery Inc., David Zaslav, commented in a Dec. 5 press release. Days later, Paramount entered the race for Warner Bros. Discovery Inc., making a rival bid of $30.00 per share, for an overall enterprise value of $108.4 billion, per a separate AFROTECH™ article....

Paramount has placed an all-cash bid for Warner Bros. Discovery Inc. (WBD). As AFROTECH™ previously reported, WBD had reached an agreement with Netflix to be acquired for a total enterprise value of $82.7 billion ( equity value of $72.0 billion). The deal would include Warner Bros.’ film and television studios, HBO Max, and HBO, but not Discovery or its cable networks such as CNN and TNT, per NBC News. The deal was approved unanimously by both companies’ board of directors. However, for the acquisition to be finalized, it would require approval from the Justice Department’s antitrust division and, likely, the European Commission and other governments globally, notes NBC News. President Donald Trump has shared his thoughts on the matter, per the outlet, stating, “Well, that’s got to go through a process, and we’ll see what happens. They have a very big market share. When they have Warner Bros., that share goes up a lot.” Paramount has now also placed a bid to purchase WBD. According...

Netflix has announced a $72 billion deal, to acquire Warner Bros., valuing it at $82.7 billion including debt, as AFROTECH™ previously reported. The transaction is anticipated to impact both the entertainment and technology sectors. Since the news broke, some observers, according to Fortune, have raised concerns about its impact on Hollywood, while analysts point to artificial intelligence and high-performance computing as key factors. Melissa Otto, head of research at S&P Global Visible Alpha, told the outlet that discussions of the deal often overlook the role of Google and its tensor processing unit (or TPU) chips. TPUs, as Exhibit Magazine notes, are custom chips designed specifically for deep learning tasks. “What TPU chips do really, really well is in the modality of video in generative AI,” Otto said, explaining that they essentially turn mathematical representations into moving pictures in much the same way graphics processing units, or GPUs, revolutionized natural language...

Netflix’s latest deal marks a significant update in the entertainment landscape. In a press release, Netflix confirmed it has agreed to purchase Warner Bros. Discovery Inc. in a deal with a total enterprise value of approximately $82.7 billion ( equity value of $72.0 billion). The agreement, approved unanimously by the boards of directors of both companies, states that the acquisition includes Warner Bros.’ film and television studios, HBO Max, and HBO, but not Discovery. The deal is projected to be finalized in the third quarter of 2026 as Warner Bros. Discovery Inc. separates Discovery Global, its Global Networks division, into a new publicly traded company. Greg Peters, co-CEO of Netflix, noted in the press release that the acquisition will position the company to reach a broader audience while scaling its business model in the decades ahead, ensuring customers have an optimal streaming service and improving the entertainment landscape, which will also benefit shareholders....

Louis Carr is the new president of BET. According to a press release shared with AFROTECH™, Paramount announced that Carr will step into the role after nearly four decades at the company. He is credited for his efforts in the multicultural advertising landscape and for bridging the gap between global corporations and Black and Brown communities. Under his leadership, BET has secured partnerships with Procter & Gamble, Walmart, Unilever, McDonald’s, Meta, and Toyota, among others. Carr’s impact at BET led to billions in advertising sales and investments in diverse communities. “Louis’ leadership has been integral to BET’s success for nearly four decades,” said Paramount TV Media Chair George Cheeks, to whom Carr will report in his newly appointed role, according to the release. “His vision for the future will drive innovation, deepen BET’s cultural impact, and position the brand for continued growth.” Carr will be tasked with carrying forward BET’s foundation of strengthening its...