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Disney Lays off Chairman of Marvel Entertainment

The water tower at The Walt Disney Co at the headquarters in Burbank, California, February 7, 2011. (Reuters)
The water tower at The Walt Disney Co at the headquarters in Burbank, California, February 7, 2011. (Reuters)
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Disney Lays off Chairman of Marvel Entertainment

The water tower at The Walt Disney Co at the headquarters in Burbank, California, February 7, 2011. (Reuters)
The water tower at The Walt Disney Co at the headquarters in Burbank, California, February 7, 2011. (Reuters)

Walt Disney Co has laid off Marvel Entertainment Chairman Isaac "Ike" Perlmutter as part of a cost-cutting campaign, a source confirmed Wednesday.

Perlmutter had supported activist shareholder Nelson Peltz's unsuccessful bid to obtain a seat on Disney's corporate board.

The executive was informed Wednesday that Marvel Entertainment, a consumer products unit run separately from Marvel Studios, would be merged into other Disney business units, according to the New York Times, which first reported Perlmutter's ouster.

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Saudi Arts, Entertainment Sector Achieves 20% Growth in 2024

File photo of the Saudi capital Riyadh - File/AAWSAT
File photo of the Saudi capital Riyadh - File/AAWSAT
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Saudi Arts, Entertainment Sector Achieves 20% Growth in 2024

File photo of the Saudi capital Riyadh - File/AAWSAT
File photo of the Saudi capital Riyadh - File/AAWSAT

The Saudi Ministry of Commerce has revealed that commercial registers in the arts and entertainment sector grew by 20% during 2024 compared to 2023.
The ministry highlighted significant growth in several key sectors, in which innovative arts and entertainment activities saw a 30% increase, with a total of 4,188 registers. Amusement park activities recorded a 26% rise, bringing the total to 6,108 registers.
Registers for other entertainment activities grew by 25%, reaching a total of 14,239. Sports club activities saw an 18% increase, with the total number of registers rising to 8,095 by the end of 2024, SPA reported.
The arts and entertainment sector is a key pillar of the Kingdom's Vision 2030, playing a vital role in boosting the local economy, diversifying income sources, increasing the GDP, and creating opportunities for the private sector to offer experiences that enhance the quality of life for all members of society.