Warner Bros. shares hit all-time low: what's happening with entertainment giant?
10 months ago

Warner Bros. shares hit all-time low: what's happening with entertainment giant?

Hindustan Times  

Discovery Inc. shares hit their lowest level since the stock began trading in April of 2022, after the entertainment giant reported fourth-quarter revenue and profits that fell short of Wall Street forecasts amid declining TV advertising sales and weakness at its studios business. The Warner Bros Sales, at $10.3 billion, fell 7% from the same period last year, the company said Friday, and came in below analysts’ projections for $10.5 billion. Warner Bros., the parent of CNN, TNT and other networks, has been wrestling with a shift in TV viewing from traditional channels to streaming services. We are challenging our leaders to find innovative solutions.” In a move to generate additional revenue, the company has been selling more programs to other streaming services such as Netflix Inc.

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History of this topic

Warner Bros. Discovery stock surges as it restructures its business
1 week, 6 days ago

Warner Bros. Discovery stock surges as it restructures its business

CNN  

CNN — Warner Bros. Discovery will have two separate operating divisions: “Global Linear Networks” for CNN, TBS, TNT and other cable networks, and “Streaming & Studios” for Max and the company’s film and entertainment studios. Discovery more “flexibility with potential future strategic opportunities across an evolving media landscape,” CEO David Zaslav said in a press release. In a note on …

Warner Music Tumbles After Results Show Streaming Slows
1 month ago

Warner Music Tumbles After Results Show Streaming Slows

Live Mint  

-- Warner Music Group Corp. stock dropped the most in 18 months after the company reported disappointing fourth-quarter results and said streaming growth stalled. Recorded music streaming revenue increased 2.1% in the quarter, a significant slowdown from the 9.6% growth in the same period a year earlier and softer than some analysts expected. In the first quarter, “streaming growth will …

Disney’s streaming business is profitable. Has direct-to-consumer hit a turning point?
1 month ago

Disney’s streaming business is profitable. Has direct-to-consumer hit a turning point?

LA Times  

It took billions of dollars in losses, a company-wide overhaul, cost-cutting and price hikes to get there, but Bob Iger and Walt Disney Co. appear to have reached a long-awaited turning point in the streaming business. Disney’s fourth quarter earnings were also buoyed by a strong showing from its resurgent film studios, which put out big hits with “Deadpool & …

Warner Bros Discovery CEO sees more industry deals under Trump
1 month, 2 weeks ago

Warner Bros Discovery CEO sees more industry deals under Trump

Live Mint  

By Dawn Chmielewski and Harshita Mary Varghese - Warner Bros Discovery CEO David Zaslav anticipates a friendlier environment for deal-making under the incoming Trump administration, opening the door to industry consolidation, he said on Thursday. Warner Bros Discovery and its peers are navigating through what Zaslav described as a "generational disruption," confronting an erosion of its lucrative television business as …

Warner Bros. gains streaming subscribers on foreign push
1 month, 2 weeks ago

Warner Bros. gains streaming subscribers on foreign push

LA Times  

Discovery Inc., the parent of the Max streaming service, gained more subscribers than expected in the third quarter, suggesting its online business is picking up. The New York-based media company added 7.2 million net streaming subscribers in the three months ended Sept. 30, the strongest quarterly gain since the platform’s launch, the company said in a statement Thursday. At Warner …

Paramount Global takes $6-billion write-down. Layoffs to hit 15% of staff
4 months, 2 weeks ago

Paramount Global takes $6-billion write-down. Layoffs to hit 15% of staff

LA Times  

Paramount Global on Thursday reported it took a $6-billion write-down on its cable television networks business, in yet another sign that Hollywood is reckoning with the ongoing deterioration of the traditional television business. The disclosures, part of Paramount’s second-quarter earnings filing, come as the company prepares to be taken over by David Ellison’s Skydance Media in the first half of …

Warner Bros. Discovery shares take a hit after earnings miss
10 months ago

Warner Bros. Discovery shares take a hit after earnings miss

LA Times  

Discovery CEO David Zaslav attends the TIME100 Gala celebrating the 100 most influential people in the world at Frederick P. Rose Hall, Jazz at Lincoln Center on June 8, 2022, in New York. “This business is not without its challenges,” Chief Executive Officer David Zaslav said during an earnings call. Hollywood Inc. CNN shakes up its morning program schedule ‘CNN …

Hollywood Strike | Warner Bros.’ yearly profit outlook trimmed by as much as $500 million
1 year, 3 months ago

Hollywood Strike | Warner Bros.’ yearly profit outlook trimmed by as much as $500 million

The Hindu  

Warner Bros Discovery is cutting its profit expectations for the year, saying it will likely incur costs as high as USD 500 million tied to the ongoing Hollywood writers' and actors' strike. Warner Bros Discovery owns HBO and Max, CNN, TNT and a host of other entertainment outlets, including DC Comics. The company said in a regulatory filing that it …

Hollywood’s 2022 double trouble: recession fears and streaming’s awkward age
2 years, 1 month ago

Hollywood’s 2022 double trouble: recession fears and streaming’s awkward age

LA Times  

Welcome to the Wide Shot, a newsletter about the business of entertainment. Today in the business of entertainment, MoviePass’ former executives are charged with securities fraud, Jimmy Kimmel will repeat as Oscars host and Dave Chappelle has been tapped to host “Saturday Night Live.” People have thoughts. NBCUniversal had a mixed quarter, with sales for Comcast’s entertainment business dipping 4% …

Warner Bros. Discovery to spend more than $1 billion downsizing
2 years, 2 months ago

Warner Bros. Discovery to spend more than $1 billion downsizing

LA Times  

Discovery reports that it will incur up to $1.5 billion in costs to shrink the company, cancel programming and provide severance packages to laid-off workers, among other expenses. In a Securities & Exchange Commission filing Monday, the company warned that “the estimated cash expenditures from the organization restructuring, facility consolidation activities and other contract termination costs will be in the …

Warner Bros. Discovery is shutting down CNN’s streaming service less than a month after launch
2 years, 8 months ago

Warner Bros. Discovery is shutting down CNN’s streaming service less than a month after launch

LA Times  

Chris Wallace has an interview show on CNN+ four nights a week. Discovery, new management announced Thursday it is pulling the plug on CNN’s $5.99-a-month streaming service. “In a complex streaming market, consumers want simplicity and an all-in service, which provides a better experience and more value than stand-alone offerings.” The decision to cut bait on CNN+ so quickly comes …

Trading starts of new Warner Bros. Discovery media giant
2 years, 8 months ago

Trading starts of new Warner Bros. Discovery media giant

Associated Press  

Shares of the new Warner Bros. The bulked-up company combines the owner of storied film studio Warner Bros., TV networks including CNN, HBO and the streaming service HBO Max, with Discovery Inc., the parent of networks that focus on reality television like HGTV and its own streaming service, Discovery+. AT&T Inc. last year decided to separate WarnerMedia as the company …

WarnerMedia-Discovery deal: AT&T gets favorable IRS ruling
2 years, 11 months ago

WarnerMedia-Discovery deal: AT&T gets favorable IRS ruling

LA Times  

AT&T is spinning off WarnerMedia, with its shareholders owning 71% and Discovery shareholders 29% of Warner Bros. AT&T said it received a “favorable” ruling from the IRS, signaling that the deal to combine WarnerMedia with Discovery would be tax-free for shareholders. Discovery Chief Executive David Zaslav called it “a key milestone toward completing our proposed transaction with AT&T.” “Today we …

Warner Bros. Discovery is Hollywood’s newest media giant, but challenges loom
3 years, 6 months ago

Warner Bros. Discovery is Hollywood’s newest media giant, but challenges loom

LA Times  

Two weeks after AT&T announced it was spinning off WarnerMedia to the much smaller Discovery, executives flocked to the Warner Bros. lot in Burbank for a glimpse of their future — and the man who would lead them there. Even after the merger, an estimated 80% of Warner Bros. Discovery’s pre-tax earnings in 2024 will still be tied to its …

Movie theater stocks are roaring thanks to ‘Godzilla vs. Kong’
3 years, 8 months ago

Movie theater stocks are roaring thanks to ‘Godzilla vs. Kong’

CNN  

New York CNN Business — HBO Max subscribers had the option to stream “Godzilla vs. Kong” in the comfort of their homes during Easter and Passover weekend, but plenty of moviegoers opted to see it in theaters. Warner Bros., the studio that released the film, said Sunday that “Godzilla vs. Kong” has raked in nearly $50 million at the US …

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