{"id":1003474,"date":"2026-04-17T09:30:44","date_gmt":"2026-04-17T04:00:44","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=1003474"},"modified":"2026-04-17T09:30:43","modified_gmt":"2026-04-17T04:00:43","slug":"netflix-cofounder-reed-hastings-to-exit-in-june","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2026\/04\/17\/netflix-cofounder-reed-hastings-to-exit-in-june\/","title":{"rendered":"Netflix cofounder Reed Hastings to exit in June"},"content":{"rendered":"<p>Netflix chairman Reed Hastings is leaving the streaming service he co-founded 29 years ago as the company regains its \u200cfooting after it \u2060lost its $72 \u2060billion deal for Warner Bros Discovery. <\/p>\n<p>In a letter to investors released on Thursday, Netflix said Hastings will not stand for re-election at its annual meeting in June and plans to focus on philanthropy and other pursuits. <\/p>\n<p>The company&#8217;s stock plunged around 8% on the news of Hastings&#8217; departure. The company&#8217;s co-founder is credited with helping to revolutionise how movies and television shows are delivered in homes, upending Hollywood&#8217;s business model.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Netflix chairman Reed Hastings is leaving the streaming service he co-founded 29 years ago as the company regains its \u200cfooting after it \u2060lost its $72 \u2060billion deal for Warner Bros Discovery. In a letter to investors released on Thursday, Netflix said Hastings will not stand for re-election at its annual meeting in June and plans to focus on philanthropy and other pursuits. The company&#8217;s stock plunged around 8% on the news of Hastings&#8217; departure. The company&#8217;s co-founder is credited with helping to revolutionise how movies and television shows are delivered in homes, upending Hollywood&#8217;s business model.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[58,4,10],"tags":[],"class_list":["post-1003474","post","type-post","status-publish","format-standard","hentry","category-broadcasting-the-economic-times","category-newspapers","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1003474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=1003474"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1003474\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=1003474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=1003474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=1003474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}