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Warner Bros. Discovery and rival Paramount Global are in early merger talks, sources familiar with the matter told CNBC. Warner Bros. Warner Bros. Warner Bros.
Persons: David Zaslav, Bob Bakish, Shari Redstone, David Ellison's Skydance, Gerry Cardinale's, Liberty Media's John Malone, Joe Biden's, There's, Axios, — CNBC's Drew Richardson Organizations: Warner Bros . Discovery, Paramount Global, CNBC, Warner Bros, Discovery, Paramount, Redstone, Amusements, CBS, Warner Media, Netflix, Liberty, Media, Morris Trust, Comcast, CNBC PRO
Christine McCarthy, Disney's chief financial officer, will step down from that role, the entertainment giant said Thursday. She will take a family medical leave of absence, and during that time, she will continue as a strategic advisor to Disney , the company said. Veteran Disney executive Kevin Lansberry, who currently works as finance chief for Disney's parks business, will become the company's interim CFO effective July 1. McCarthy, who started with Disney in 2000 and became CFO in 2015, leaves as Disney undergoes a broad restructuring during Bob Iger's second tenure as CEO. During McCarthy's tenure, Disney's streaming spending skyrocketed, and free cash flow fell.
Persons: Christine McCarthy, McCarthy, Disney, Kevin Lansberry, Bob, " McCarthy, Bob Iger's, Bob Chapek, Iger, Christine, Organizations: Walt Disney Company's, Milken Institute Global, The Beverly Hilton Hotel, Disney, Veteran Disney, Chapek Locations: Beverly Hills , California
His tenure, which effectively started when he eliminated the network's expensive CNN+ streaming service , was riddled with programming missteps and rock-bottom ratings. "We have great confidence in this group and will fully support them until a new CEO is named," Warner Bros. In the meantime, executives Amy Entelis, Virginia Moseley, Eric Sherling and David Leavy will lead CNN, the company said. Chris Licht is out at CNN after leading the news network for a little more than a year, parent company Warner Bros Discovery announced Wednesday morning. Read Zaslav's memo to staff:All,This morning we are announcing that Chris Licht will be leaving CNN and we will be conducting a wide search, internally and externally, for a new leader.
Persons: Chris, Zaslav, , David Zaslav, Amy Entelis, Virginia Moseley, Eric Sherling, David Leavy, Chris Licht, Licht, Donald Trump, Leavy, Joe, Stephen Colbert, Read, You've, David Organizations: CNN, Warner Bros, Discovery, Warner Bros Discovery, CBS, Development, MSNBC, CNBC
World Wrestling Entertainment and Endeavor's UFC announced last month they would merge later this year. The new operation will be called TKO Group Holdings, a spokesperson for Endeavor confirmed Tuesday. Emanuel has said he intends to run "the same playbook" with WWE that Endeavor did with UFC, whose revenue surged 20% from 2021 to 2022. UFC and WWE will retain their respective names as part of TKO Group. "This is going to be UFC 2.0," Emanuel said in an interview that aired last month on CNBC's "Squawk on the Street."
Shares of WWE fell in premarket trading, while Endeavor shares rose. Ari Emanuel will act as chief executive of both Endeavor and the new company, the companies said. McMahon, likewise, will be executive chairman, while Endeavor President and COO Mark Shapiro will also work in the same roles at the new company. Dana White will remain as president of UFC, and WWE CEO Nick Khan will stay on as president of the wrestling business. Stefanie Keenan | Getty Images Entertainment | Getty ImagesThe announcement confirmed an earlier CNBC report.
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