Yahoo Finance's Brad Smith breaks down leading business headlines, including leadership changes at Apple and Disney as well as Google winding down its cloud gaming service Stadia.
BRAD SMITH: Welcome back, everyone. Apple's longtime supply chain executive Tony Blevins is leaving the company. Apple had no comments on the high profile departure, but the firing comes after a viral TikTok showed him making vulgar comments about women at a September 5 car show in response to the expensive car guy on TikTok, Daniel Mac, who asks, what do you do for a living?
Blevin's response was very far from his position at Apple and included fondling women. Bloomberg reports that video set off an internal investigation that led to Blevin's removal. His remarks were apparently a loose quoting from the 1981 romcom, "Arthur."
Meanwhile, Disney exec Elisa Bowen getting promoted to the president of Disney+ ahead of the launch of its ad-supported tier, excuse me. That's effective immediately. Now, over 20 years of experience she has, and she's going to be tasked with boosting the streaming profits.
The ad-supported tier is expected on December 8 with a starting price of $7.99 per month, the current price of ad-free Disney going forward. Disney without ads was going to cost about $10.99 a month. That's a 38% markup amounting to a monthly $3 increase for the service.
And Google winding down its Stadia cloud gaming service nearly three years after its launch, citing poor adoption. The service, which allowed modern games to be streamed without needing a console, will officially shudder in January, with refunds given for all Stadia games and hardware.
The move marks Google's exit from true cloud gaming, a space in which Microsoft, Amazon, and Nvidia all have competing interests. But the DNA of Stadia is not going anywhere. The infrastructure, that's going to remain available for use as a white label product to companies outside of Stadia's ecosystem.