Casino operator Wynn Resorts has appointed its current CEO and the former CEO of Deutsche Bank to its board of directors. The Las Vegas-based company announced the appointments Tuesday. The addition of Wynn Resorts CEO Matt Maddox and former Deutsche Bank executive Richard Byrne brings the number of board members to 11. The company’s board has been overhauled since founder Steve Wynn resigned as chairman and CEO in February after sexual misconduct allegations against him first surfaced. He has denied the accusations. The announcement came a day after the company disclosed that casino industry veteran Phil Satre has been named board vice chairman and will become chairman by Dec. 31. Maddox joined the casino operator when it was founded in 2002. Byrne is the president of Benefit Street Partners.
Disney says its new streaming service won’t rival Netflix
Disney’s upcoming streaming service won’t try to compete directly with Netflix and Amazon, but will focus instead on quality — namely original programs from Disney’s “Star Wars,” Pixar and Marvel brands. The details from Disney CEO Bob Iger came as Disney reported a growth in earnings for the latest quarter, though results missed expectations. With Comcast out of the bidding war, Disney is planning to move forward with its USD71.3 billion purchase of Fox’s entertainment assets, in part to boost a Disney-branded streaming service set to launch in late 2019. Disney’s shareholders and U.S. regulators have approved the Fox bid. Disney is awaiting regulatory approval overseas.
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