iWorld
Lionsgate set to bring Twitter story on TV
MUMBAI: Lionsgate, a leading global entertainment company, has optioned the rights to Nick Bilton’s New York Times best seller Hatching Twitter: A True Story of Money, Power, Friendship, and Betrayal, with Allison Shearmur set as executive producer. Bilton, a columnist and reporter for the New York Times, will write the screenplay and serve as the producer. The announcement was made on 18 December by Lionsgate Television Group chairman Kevin Beggs.
Hatching Twitter presents a fascinating behind-the-scenes account of the creation of the social media service by four friends and its evolution into worldwide phenomena that has changed the accession of digital communication. Bilton sheds light on the relationships, battles, power grabs and betrayals along the way in one of the most talked-about books of the year.
Published by Penguin/Portfolio on 5 November, 2013, Hatching Twitter is a New York Times Best Seller that debuted at number 14 on the E-Book Nonfiction list and number five on the Wall Street Journal’s Hardcover Business list. The readers of the Wall Street Journal named it the Best Book of 2013. It has also made it to the “best of year” lists in a number of other outlets, including The Economist, Gizmodo, Bookish and Mashable and was an Amazon Best Book of the month in November.
“Twitter has transformed almost every aspect of our lives from politics to business to friendship, and I can’t think of a more compelling story to adapt for television right now,” said Beggs in a release. “Nick’s book has all the elements of a great drama with its complex characters, high-stakes power struggles and betrayed friendships, and we’re extremely fortunate to have Alli Shearmur onboard as executive producer,” he added.
“Hatching Twitter will go behind the scenes of a groundbreaking Silicon Valley company in a way that’s never been captured before on television,” said Shearmur. “The Social Network was a perfect film, and this series will be different, providing a longer view of the work life changes, gamesmanship and personal sacrifices made by a group of individuals who are building a company that will change the way that people communicate,” he added.
“I am thrilled to work with Allison Shearmur and Lionsgate to adapt my book about the power, betrayal and billions of dollars that swirl through Silicon Valley,” said Bilton. “The story of Hatching Twitter really speaks to a generation that has searched for friendship through technology and it will be very exciting to see it brought to life on screen,” he said. He further added on his website that, “I’m thrilled to announce that Hatching Twitter has been optioned by Lionsgate and we will be starting development of a TV series.”
Lionsgate has enjoyed great success with book adaptations, including its blockbuster movie franchises Hunger Games and Twilight, which have collectively grossed more than $4 billion at the box office worldwide. Hunger Games’ Indian release of its latest installment, The Hunger Games: Catching Fire has garnered a three-day collection in India of approximately – Rs 21 crore.
iWorld
Netflix cuts jobs in product division amid restructuring
Layoffs hit creative studio unit as leadership and strategy shifts unfold.
MUMBAI: The streaming wars may be fought on screen, but the latest plot twist is unfolding behind the scenes. Netflix has reportedly begun laying off several dozen employees from its product division as part of an internal reorganisation, according to a report by Variety. The cuts are believed to have primarily affected the company’s creative studio unit, which works on marketing assets such as in app trailers, promotional visuals and live experience content for the streaming platform.
The company has not disclosed the exact number of employees impacted.
According to the report, the layoffs were not tied to employee performance. Instead, the restructuring eliminated certain roles while other employees were reassigned to different teams within the organisation.
The roles affected are understood to include designers, producers and creative specialists responsible for marketing and brand experience initiatives.
The job cuts come as Netflix adjusts its leadership structure and reshapes its product and creative teams. Last month, Elizabeth Stone was promoted from chief technology officer to chief product and technology officer, giving her oversight of product, engineering and data operations across the company.
Earlier, in December 2025, Netflix also appointed Martin Rose as head of creative for global brand and partnerships, a move seen as part of a broader restructuring of the company’s brand and product functions.
Despite the layoffs, Netflix remains one of the largest employers in the streaming sector. The company is estimated to employ around 16,000 people globally, with roughly 70 percent of its workforce based in the United States and Canada. In 2023, the company reported approximately 13,000 employees, indicating that its headcount had grown significantly before the latest restructuring.
The workforce changes arrive at a time when Netflix is navigating a shifting financial and strategic landscape in the global entertainment industry.
The streaming giant recently secured $2.8 billion in additional cash after receiving a breakup fee from Paramount Skydance following its withdrawal from a deal involving Warner Bros. Discovery.
Speaking to Bloomberg, Netflix co chief executive Ted Sarandos explained that the company had evaluated multiple scenarios during the negotiations but chose not to match the competing offer once it learned that a higher bid had been submitted.
Netflix had capped its offer at $27.75 per share and ultimately stepped back rather than pursue Paramount’s $111 billion acquisition deal, which included a personal guarantee.
Sarandos also cautioned that the financing structure behind the Paramount Skydance transaction could have ripple effects across the entertainment industry.
According to him, the debt heavy deal could trigger significant cost cutting, with David Ellison, chief executive of Paramount Skydance, expected to eliminate about $16 billion in costs and potentially cut thousands of jobs as part of the integration process.
For Netflix, the current restructuring appears to be part of a broader attempt to streamline operations while continuing to invest in product, technology and global content even as the streaming industry enters a new phase of consolidation and financial discipline.
