Entertainment News: Streaming Surge, Tragic Losses, and Stellar Comebacks

Current entertainment news highlights Warner Bros Discovery's ambitious streaming goals and a tragic discovery of actor Gene Hackman and his wife found deceased. Fox Corp names Pete Distad as the CEO of its new streaming platform, while the Oscars red carpet is set for a classic look. Space news features an all-female Blue Origin crew, including Katy Perry. The Oscars' gift bags focus on wildfire recovery, and a UK court halts Hipgnosis' lawsuit against Barry Manilow. Michelle Trachtenberg passes away, and Demi Moore eyes an Oscar with her role in 'The Substance'.

Current headlines in entertainment focus on Warner Bros Discovery's forecast to double streaming profits and attract 150 million subscribers by 2026. This ambitious goal is buoyed by the global expansion of its streaming service Max and strategic cost management. Despite a surprise loss attributed to declining traditional television business, investors showed optimism.

In a tragic discovery, renowned actor Gene Hackman and his wife Betsy Arakawa were found dead in their home, creating a wave of sadness across Hollywood. Hackman, a revered Oscar-winning actor, was 95 years old. The circumstances of their deaths are still being investigated by local authorities.

Further sparking industry buzz, Fox Corp announced Pete Distad of Apple TV+ fame as the head of its new streaming venture, designed to compete with giants like Netflix and Disney+. In celebration of Hollywood's glamorous season, stylist Alexandra Mandelkorn has set the stage for classic looks on the Oscars red carpet. Meanwhile, the Blue Origin all-female crew prepares for a historic space mission, and the Oscars acknowledge wildfire recovery efforts amidst their luxury gift offerings. In other news, Michelle Trachtenberg is mourned by fans as she passes away, and Demi Moore looks towards awards glory with her comeback role.

(With inputs from agencies.)