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Netflix To Reportedly Hire New CFO; Removes Comedy Show Episode In Saudi Arabia

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Online video streaming giant Netflix Inc. (NFLX) plans to name Activision Blizzard Inc.'s (ATVI) financial chief Spencer Neumann as its new chief financial officer, reports said.

Neumann succeeds David Wells, who announced in August his plans to step down after 14 years at Netflix and focus on philanthropy. The move comes as Netflix plans to produce more of its own films and television series.

Meanwhile, Activision Blizzard said in a separate statement that it has terminated Spencer Neumann's employment for cause unrelated to the video game company's financial reporting or disclosure controls and procedures.

Activision Blizzard has re-appointed Dennis Durkin as its new CFO with immediate effect, reprising the role he held from March 2012 to May 2017.

Meanwhile, media reports also indicate that Netflix has pulled an episode of "Patriot Act with Hasan Minhaj" in Saudi Arabia last week after it received a complaint from the kingdom.

The second episode of the comedy show reportedly focused on Saudi Arabia following the killing of journalist Jamal Khashoggi, a critic of the Saudi regime, and also included criticism of Crown Prince Mohammed Bin Salman.

Netflix decided to remove the episode, entitled "Saudi Arabia", after it received a legal request from the Saudi Communications and Information Technology Commission as the episode allegedly violated the kingdom's anti-cybercrime law.

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