Entertainment News Roundup: Disney studio Pixar poised to cut jobs, number undecided -source; Disney studio Pixar poised to cut jobs, number undecided and more

TechCrunch reported earlier that Pixar was set to undergo layoffs as high as 20% this year, with the studio's team of 1,300 people reduced to under 1,000 over the coming months. Exclusive-Believe SA top investors explore takeover of French digital music co –sources The largest shareholders in Believe, the French music services company behind best-selling French artists such as rap duo PNL, have been exploring the possibility of taking it private, people familiar with the matter told Reuters.

Following is a summary of current entertainment news briefs.

Disney studio Pixar poised to cut jobs, number undecided -source

Walt Disney's Pixar Animation Studios is set to cut jobs as the studio has completed production on some shows and now has more staff than it needs, a source familiar with the situation told Reuters on Thursday. TechCrunch reported earlier that Pixar was set to undergo layoffs as high as 20% this year, with the studio's team of 1,300 people reduced to under 1,000 over the coming months.

Exclusive-Believe SA top investors explore takeover of French digital music co –sources

The largest shareholders in Believe, the French music services company behind best-selling French artists such as rap duo PNL, have been exploring the possibility of taking it private, people familiar with the matter told Reuters. The investors, who include the group’s CEO and founder Denis Ladegaillerie and U.S. investment firm TCV, have been sounding out interest from private equity firms over a bid for Paris-based Believe less than three years after its stock market debut, the sources said on condition of anonymity. The shareholders were working with advisers, two of the people said.

Elvis train shakes, rattles and rolls out to tribute festival in Australia

Hundreds of hip-shaking and wig-wearing Elvis Presley fans on Thursday began their annual pilgrimage to the Elvis Festival in the Australian outback, the world's largest tribute to the iconic musician. Revellers in their sequin-encrusted jumpsuits danced to several of the King's biggest hits at Sydney's Central railway terminal before catching the 'Elvis Express' to the rural town of Parkes, 357 km (222 miles) westward.

Universal Music Group to lay off some employees

Universal Music Group will lay off some employees in 2024, a company spokesperson said on Friday, making the world's largest record label the latest to join a wave of layoffs this year. Universal Music Group (UMG) may cut hundreds of jobs in the first quarter, mostly in its recorded music division, Bloomberg News reported earlier in the day.

Angela Bassett, Mel Brooks accept honorary Oscars at Hollywood gala

Actor Angela Bassett was celebrated for a lifetime of memorable roles from Tina Turner to the queen of Wakanda as Hollywood's film academy handed out honorary Oscars on Tuesday. Comedian Mel Brooks also received a golden statuette at the annual Governors Awards in front of a crowd of top stars including Leonardo DiCaprio, Bradley Cooper and Natalie Portman.

Skydance Media CEO exploring all-cash bid to take control of Paramount - source

Skydance Media CEO David Ellison is exploring an all-cash bid to acquire entertainment giant Paramount Global's parent National Amusements, a person familiar with the matter said on Wednesday. Ellison could take control of National Amusements with financing from Skydance's existing investors, which include The Ellison family, RedBird Capital Partners and Tencent, the source said, confirming a report in the Wall Street Journal.

'Parasite' director Bong, South Korean artists urge probe into handling of actor case

A group of South Korean filmmakers, actors and industry officials, including "Parasite" director Bong Joon-ho, on Friday called for a probe into the handling by police and media of drug abuse allegations involving late actor Lee Sun-kyun. Lee, who shot to global fame with his performance as the wealthy patriarch in the Oscar-winning film "Parasite", was found dead last month in an apparent suicide.

(With inputs from agencies.)