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 legacy cable channels, research firm MoffettNathanson said in a note. One senior executive who attended the meeting said: “People respected the fact that he flew across the country to say ‘hi.’ Everyone felt better that he respected the history and legacy of Warner Bros. and the importance of high-quality content.” Still, there were some head-scratchers. He did give a shout-out to HBO’s current hit, starring Kate Winslet, “Mare of Easttown.” Zaslav’s quick-draw decision to announce the new corporate name, Warner Bros. Several saw it as a classy move to put the Warner Bros. name first and bring back the “Bros.” part of the moniker, another nod to the studio’s roots.

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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 Bros. Discovery restructures as cable struggles, setting stage for deals
1 week, 6 days ago

Warner Bros. Discovery restructures as cable struggles, setting stage for deals

LA Times  

Discovery is restructuring the company. The move comes less than a month after Comcast announced that it would spin off its linear cable channels, including MSNBC, CNBC and USA Network, into a separate publicly traded company. However, in a statement, the company acknowledged that the structure was designed for the company to be more flexible “to pursue further value creation …

Warner Bros. Discovery strikes new distribution deal with Comcast
2 weeks, 2 days ago

Warner Bros. Discovery strikes new distribution deal with Comcast

LA Times  

Discovery has taken steps to strengthen its economic footing with a major channel distribution deal. The company announced Monday that it had reached an agreement for cable giant Comcast Corp. to continue carrying Warner Bros. Discovery’s linear cable channels, including HBO, TNT, HGTV, Food Network, CNN and Animal Planet. The deal also expands Comcast’s ability to offer Warner Bros. Discovery’s …

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 …

Hollywood’s cable struggles become clearer as write-downs add ‘nails to linear TV’s coffin’
4 months, 2 weeks ago

Hollywood’s cable struggles become clearer as write-downs add ‘nails to linear TV’s coffin’

LA Times  

The Warner Bros. lot in Burbank. Warner Bros. Discovery’s sluggish performance is rattling investors, sending the beleaguered company’s stock on a steep slide. “Paramount’s and Warner Bros Discovery’s writedowns this week add nails to linear TV’s coffin,” Ross Benes, Emarketer’s principal analyst, said in an emailed statement. Analysts have said some of Warner Bros. Discovery’s setbacks, including the expected loss …

Warner Bros. Discovery's David Zaslav's struggles extend to a lost NBA contract
4 months, 4 weeks ago

Warner Bros. Discovery's David Zaslav's struggles extend to a lost NBA contract

LA Times  

David Zaslav, president and CEO of Warner Bros. “The NBA was one of the crown jewels, something that defined TNT,” Stephen Galloway, dean of Chapman University’s Dodge College of Film and Media Arts, said. “This is a company with incredible assets — but it’s just not growing, and that’s the problem,” said Bank of America Securities media analyst Jessica Reif …

Two Warner Bros. Discovery board members step down amid DOJ investigation
8 months, 3 weeks ago

Two Warner Bros. Discovery board members step down amid DOJ investigation

LA Times  

Two members of Warner Bros. Discovery‘s board of directors are stepping down after the U.S. Department of Justice expressed concerns over a possible antitrust violation. The media conglomerate said Monday that Steven A. Miron and Steven O. Newhouse resigned after the DOJ notified them of a probe into whether their service violated Section 8 of the Clayton Antitrust Act. “Miron …

Suitors are wooing Paramount
10 months ago

Suitors are wooing Paramount

Hindustan Times  

From “GREASE” to “Breakfast at Tiffany’s”, Paramount Pictures has produced plenty of good romances during its 112-year history. The wooing of Paramount Global, the studio’s parent company, has begun because Shari Redstone, president of National Amusements, which has a controlling stake in the firm, appears ready to sell. Paramount Global today comprises the film studio, the Paramount+ streaming service and …

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 …

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 …

ESPN, Fox and Warner Bros. Discovery plan to launch a sports streaming platform
10 months, 2 weeks ago

ESPN, Fox and Warner Bros. Discovery plan to launch a sports streaming platform

NPR  

ESPN, Fox and Warner Bros. Discovery plan to launch a sports streaming platform Enlarge this image toggle caption David Kohl/AP David Kohl/AP ESPN, Fox and Warner Bros. Discovery announced plans on Tuesday to launch a sports streaming platform in the fall that will include offerings from at least 15 networks and all four major professional sports leagues. "We believe the …

Fox, Disney and Warner Bros. Discovery are launching a joint sports streaming service
10 months, 2 weeks ago

Fox, Disney and Warner Bros. Discovery are launching a joint sports streaming service

LA Times  

LeBron James of the Los Angeles Lakers is fouled by Draymond Green of the Golden State Warriors. The service will provide one-stop shopping for sports fans, giving them the ability to stream NFL games, the NCAA men’s basketball tournament, the NHL, the NBA and Major League Baseball, which represents a sampling of the media rights owned by the three partners. …

ESPN, FOX, Warner Bros. Discovery launching joint sports streaming service in fall of 2024
10 months, 2 weeks ago

ESPN, FOX, Warner Bros. Discovery launching joint sports streaming service in fall of 2024

New York Times  

By Richard Deitsch, Mike Vorkunov, Andrew Marchand and Greg Rosenstein ESPN, FOX and Warner Bros. Discovery are forming a new joint venture to launch a sports streaming service in the fall of 2024, they announced Tuesday. “The launch of this new streaming sports service is a significant moment for Disney and ESPN, a major win for sports fans and an …

Warner Bros. is in talks to merge with Paramount Global
1 year ago

Warner Bros. is in talks to merge with Paramount Global

Live Mint  

Discovery Inc. held talks on a possible merger with Paramount Global, potentially combining two of the biggest media companies in the world, according to people with knowledge of the matter. A combination of the companies would unite famous Hollywood properties, including the Paramount and Warner Bros. film and TV studios, and put a number of pay-TV and broadcast stations, such …

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 …

Warner Bros Discovery warns Hollywood strikes may impact film slate
1 year, 4 months ago

Warner Bros Discovery warns Hollywood strikes may impact film slate

Al Jazeera  

Some features and dramas Warner Bros Discovery is well known for are on ice for now with no end in sight to the strike. Warner Bros Discovery has warned that uncertainty over the dual strikes by Hollywood writers and actors could impact the timing of its film slate and its ability to produce and deliver content. This is a seminal …

Warner Bros. Discovery boosts David Zaslav pay incentives after company cuts costs
1 year, 9 months ago

Warner Bros. Discovery boosts David Zaslav pay incentives after company cuts costs

LA Times  

After a brutal year marked by thousands of layoffs and stock struggles, Warner Bros. In a regulatory filing Monday, the company said it amended Zaslav’s contract to double the number of performance-related restricted stock awards he is eligible for. Last year, Zaslav’s total compensation package was set to exceed $250 million — with nearly three-quarters of that amount, or $202 …

David Zaslav defends Warner Bros. Discovery cuts: ‘We did not get rid of any show that was helping us’
2 years, 1 month ago

David Zaslav defends Warner Bros. Discovery cuts: ‘We did not get rid of any show that was helping us’

LA Times  

Discovery Chief Executive David Zaslav addressed the significant cuts made at the company during the last six months, framing them as part of a fundamental “rethinking and reimagining” of how the media giant works as the entertainment industry endures a period of dramatic transformation. Since the April merger of WarnerMedia and Discovery Inc., the combined firm has shed hundreds of …

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 …

With Discovery merger, can David Zaslav restore Warner Bros. to its former glory?
2 years, 8 months ago

With Discovery merger, can David Zaslav restore Warner Bros. to its former glory?

LA Times  

Discovery Communications CEO David Zaslav is interviewed in New York by host Maria Bartiromo on the Fox Business Network in 2018. Warner executives have prided themselves on creating prestige television, such as HBO’s “Succession” and “Euphoria,” and epic movies including “Batman v. Superman” and “The Matrix.” By contrast, Discovery’s popular fare is nonfiction and lower-budget : Think “90 Day Fiancé,” …

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 …

Theaters or HBO Max? Warner Bros. movie plans take shape as Discovery merger looms
3 years, 6 months ago

Theaters or HBO Max? Warner Bros. movie plans take shape as Discovery merger looms

LA Times  

On Dec. 3, Warner Bros. — the 98-year-old studio known for such gems as “Casablanca” and “The Dark Knight” — stunned Hollywood by announcing its entire 2021 film lineup would be available on HBO Max and in theaters on the same day in the U.S., where theaters were hobbled by the coronavirus. But as the $43-billion Discovery merger ambles toward …

Hollywood’s newest media giant to be named Warner Bros. Discovery
3 years, 6 months ago

Hollywood’s newest media giant to be named Warner Bros. Discovery

LA Times  

Discovery plans to name its proposed new company Warner Bros. Discovery name will honor, celebrate and elevate the world’s most-storied creative studio in the world with the high quality, global nonfiction storytelling heritage of Discovery,” the company said in a statement. After AT&T took over the company in June 2018, it changed the name that had long celebrated the marriage …

WarnerMedia, Discovery merge assets: All you need to know about the deal, and future of their streaming services
3 years, 7 months ago

WarnerMedia, Discovery merge assets: All you need to know about the deal, and future of their streaming services

Firstpost  

From the implications of the merger on HBO Max and Discovery+, to potential layoffs at WarnerMedia and Discovery, a comprehensive guide to the mammoth deal. It’s as if Logan Roy, the fictional patriarch of the Waystar Royco media empire on HBO’s popular series Succession, masterminded the deal himself: AT&T has thrown in the towel on its media business and decided …

AT&T to spin off and combine WarnerMedia with Discovery in deal that would create streaming giant
3 years, 7 months ago

AT&T to spin off and combine WarnerMedia with Discovery in deal that would create streaming giant

CNN  

New York CNN Business — The streaming TV race is about to get even more competitive. “AT&T would receive $43 billion in a combination of cash, debt securities, and WarnerMedia’s retention of certain debt,” Monday’s announcement said. At the time, Zaslav told CNN that discovery+ was a “great complement to someone who has Disney or Netflix, or HBO, Disney and …

Why you should care about Discovery and WarnerMedia merging
3 years, 7 months ago

Why you should care about Discovery and WarnerMedia merging

CNN  

New York CNN Business — Discovery is an iconic brand in the cable world, as are CNN and HBO. Discovery said on Monday that the new company, which is still yet to be named, will “own one of the deepest libraries in the world with nearly 200,000 hours of iconic programming” and bring together over 100 brands. But in this …

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