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Reed Hastings

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CALIFORNIA | LOCAL
January 13, 2005 | Jordan Rau, Times Staff Writer
Democratic lawmakers made their first public rejection of a nominee of Gov. Arnold Schwarzenegger on Wednesday, refusing to reappoint to the state Board of Education a Silicon Valley businessman opposed by advocates of bilingual education. The fight over Reed Hastings, however, had more to do with Democratic Party politics than with the Republican governor. Hastings is a major Democratic donor first appointed by former Gov. Gray Davis, a Democrat, in 2000.
ARTICLES BY DATE
ENTERTAINMENT
December 30, 2013 | By Dawn C. Chmielewski
Netflix Chief Executive Reed Hastings realized a $5.3-million profit from a post-Christmas stock sale, according to a new regulatory filing. Hastings acquired more than 15,238 shares for $417,750 on Dec. 26, which he sold for nearly $5.8 million that same day, according to a filing made with the Securities and Exchange Commission. Such sales are made as part of a predetermined stock sale program, which triggers when the company's stock hits a certain price. Netflix has been one of the top stock performers of the year, up nearly 300% in 2013 as investors found new enthusiasm for the streaming television and movie service.
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BUSINESS
May 21, 2008 | From the Associated Press
Preparing for the eventual extinction of its DVD-by-mail rental service, Netflix Inc. on Tuesday introduced its first solution for subscribers who want entertainment delivered directly to their television sets with just a few clicks on a remote control. The breakthrough comes in the form of a 5-inch-by-5-inch device tailored for a year-old service that uses high-speed Internet connections to stream more than 10,000 movies and television shows from Netflix's library. Although it's provided at no additional cost to most of Netflix's 8.2 million subscribers, the streaming service has had limited appeal because it doesn't include the latest movies and couldn't easily be watched on anything but a personal computer.
ENTERTAINMENT
April 26, 2013 | By Dawn C. Chmielewski
Netflix Chief Executive Reed Hastings received about $5.5 million in total compensation last year, a 40% drop from 2011, when his package was valued at $9.3 million. But Hastings' salary -- like the company's image -- is on the rebound. He is set to receive $2 million in pay this year, four times what he collected in 2012. His stock option allowance will increase to $2 million; up from $1.5 million last year. Hastings also realized a gain of about $8.4 million last year from the exercise of prior years' option grants, according to regulatory filings.
OPINION
January 17, 2005
Re "Democrats Reject Gov.'s Nominee," Jan. 13: Most children quickly integrated into English-only classrooms when parents chose these after seeing the lack of progress in the bilingual programs of the past. Positive results are evident when seeing children serving as interpreters for parents at clinics, hospitals and businesses. The rejection of well-respected community leader Reed Hastings to the State Board of Education is most unfortunate. He dared support English-language reading for immigrant children.
BUSINESS
December 31, 2010 | Bloomberg News
A federal judge granted class-action certification to Netflix Inc. subscribers in their lawsuit against the company and Wal-Mart Stores Inc. over an alleged agreement to monopolize the DVD market. U.S. District Judge Phyllis Hamilton said the subscribers bringing suit against the companies in 2009 were "united by common and overlapping issues of fact and law," in an order dated Dec. 23 and filed in federal court in Oakland. Wal-Mart, based in Bentonville, Ark., and the plaintiffs reached a preliminary settlement of the lawsuit that could pay them as much as $40 million in cash or equivalents, according to a motion filed in federal court in Oakland.
BUSINESS
June 26, 2012 | By Jessica Guynn, Los Angeles Times
SAN FRANCISCO — Sheryl Sandberg has become the first woman to join the board of Facebook Inc. The Menlo Park, Calif., company announced Monday that Sandberg, its chief operating officer and one of the country's best-known female executives, would be the eighth member of what until now has been an all-boys club. "Sheryl has been my partner in running Facebook and has been central to our growth and success over the years," Mark Zuckerberg, the company's founder and chief executive, said in a written statement.
BUSINESS
September 19, 2011 | By Ben Fritz, Los Angeles Times
Netflix Inc., just a few months ago considered the unstoppable titan of the entertainment industry, is suddenly looking more like the Titanic. The company that transformed DVD rentals with its subscription mail service, added easy-to-use Internet video streaming and amassed 25 million subscribers throughout the Western hemisphere has found itself pummeled over the last two months by furious and departing customers, balky suppliers in Hollywood and...
NEWS
August 27, 2001 | VIRGINIA ELLIS and RICHARD LEE COLVIN, TIMES STAFF WRITERS
State Board of Education President Reed Hastings contributed $50,000 to a state senator one day after the lawmaker introduced legislation that would benefit a network of charter schools founded by Hastings. The legislation, which Hastings says he helped write, would cut state funding to some charter schools that provide independent study programs while increasing the dollars that flow to those charter schools that are classroom-based and serve poor urban areas.
ENTERTAINMENT
April 25, 2013 | By Dawn C. Chmielewski
Netflix Chief Executive Reed Hastings posted an 11-page document on the company's website articulating his view of the future of television and Netflix's place in this evolution. In short, traditional TV is toast. "People love TV content and we watch over a billion hours a day of linear TV," Hastings wrote in a post Wednesday night. "But people don't love the linear TV experience where channels present programs at particular times on non-portable screens with complicated remote controls.
ENTERTAINMENT
April 25, 2013 | By Dawn C. Chmielewski
Netflix Chief Executive Reed Hastings posted an 11-page document on the company's website articulating his view of the future of television and Netflix's place in this evolution. In short, traditional TV is toast. "People love TV content and we watch over a billion hours a day of linear TV," Hastings wrote in a post Wednesday night. "But people don't love the linear TV experience where channels present programs at particular times on non-portable screens with complicated remote controls.
BUSINESS
June 26, 2012 | By Jessica Guynn, Los Angeles Times
SAN FRANCISCO — Sheryl Sandberg has become the first woman to join the board of Facebook Inc. The Menlo Park, Calif., company announced Monday that Sandberg, its chief operating officer and one of the country's best-known female executives, would be the eighth member of what until now has been an all-boys club. "Sheryl has been my partner in running Facebook and has been central to our growth and success over the years," Mark Zuckerberg, the company's founder and chief executive, said in a written statement.
BUSINESS
September 19, 2011 | By Ben Fritz, Los Angeles Times
Netflix Inc., just a few months ago considered the unstoppable titan of the entertainment industry, is suddenly looking more like the Titanic. The company that transformed DVD rentals with its subscription mail service, added easy-to-use Internet video streaming and amassed 25 million subscribers throughout the Western hemisphere has found itself pummeled over the last two months by furious and departing customers, balky suppliers in Hollywood and...
BUSINESS
June 24, 2011 | By Jessica Guynn, Los Angeles Times
Signaling that it's seriously preparing for what some anticipate will be a $100-billion initial public offering next year, Facebook Inc. said it has added Reed Hastings, Netflix Inc.'s chairman and chief executive officer, to its board of directors. Hastings, who co-founded Netflix in 1997 and guided the online DVD rental service through an IPO in 2002, could help Facebook navigate its own public offering. He is also expected to bring significant expertise to distribution of digital entertainment as the Palo Alto social networking company explores providing more offerings to its users.
BUSINESS
December 31, 2010 | Bloomberg News
A federal judge granted class-action certification to Netflix Inc. subscribers in their lawsuit against the company and Wal-Mart Stores Inc. over an alleged agreement to monopolize the DVD market. U.S. District Judge Phyllis Hamilton said the subscribers bringing suit against the companies in 2009 were "united by common and overlapping issues of fact and law," in an order dated Dec. 23 and filed in federal court in Oakland. Wal-Mart, based in Bentonville, Ark., and the plaintiffs reached a preliminary settlement of the lawsuit that could pay them as much as $40 million in cash or equivalents, according to a motion filed in federal court in Oakland.
BUSINESS
May 21, 2008 | From the Associated Press
Preparing for the eventual extinction of its DVD-by-mail rental service, Netflix Inc. on Tuesday introduced its first solution for subscribers who want entertainment delivered directly to their television sets with just a few clicks on a remote control. The breakthrough comes in the form of a 5-inch-by-5-inch device tailored for a year-old service that uses high-speed Internet connections to stream more than 10,000 movies and television shows from Netflix's library. Although it's provided at no additional cost to most of Netflix's 8.2 million subscribers, the streaming service has had limited appeal because it doesn't include the latest movies and couldn't easily be watched on anything but a personal computer.
BUSINESS
August 10, 2012 | By Jessica Guynn
Some investors have lost faith in Facebook whose shares are down more than 40% since their May stock market debut. But Reed Hastings is getting some religion. Hastings, chief executive of Netflix and a Facebook board member since June 2011, bought about $1 million worth of stock in the social networking giant, according to a filing with the Securities and Exchange Commission. Hastings bought the shares Wednesday at a price of $21.03, a rare vote of confidence in the company.
OPINION
January 17, 2005
Re "Democrats Reject Gov.'s Nominee," Jan. 13: Most children quickly integrated into English-only classrooms when parents chose these after seeing the lack of progress in the bilingual programs of the past. Positive results are evident when seeing children serving as interpreters for parents at clinics, hospitals and businesses. The rejection of well-respected community leader Reed Hastings to the State Board of Education is most unfortunate. He dared support English-language reading for immigrant children.
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