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REUTERS/Mike BlakeViacomCBS Inc (VIAC.O) and Comcast Corp (CMCSA.O) can succeed without acquiring other businesses, IAC (IAC.O) Chairman Barry Diller said during a Reuters Newsmaker event Thursday. The media and Internet mogul, who helped found Fox Broadcasting Company, described competing with Netflix (NFLX.O), which would require significant investment, a "fool's errand" at this point. He described Comcast as being in a “fantastic position” with a cable and broadband business that hedges against NBCUniversal. “I don’t think they have to do anything,” he said of whether Comcast needs to spin off a business or get bigger. The Internet and media mogul brushed off concerns about Netflix’s debt burden.
Persons: Barry Diller, Mike Blake ViacomCBS, Diller, , ” Diller Organizations: IAC, Inc, Wall Street Journal, REUTERS, Mike Blake ViacomCBS Inc, Comcast Corp, Reuters, Fox Broadcasting Company, Netflix, Discovery Inc, Discovery, Warner Brothers Discovery, MGM, MGM Resorts International, Comcast, NBCUniversal, Thomson Locations: Laguna Beach , California, U.S
Warner Bros. plans anime movie in 'Lord of the Rings' series
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.74   time to read: +1 min
The Warner Bros logo is seen during the annual MIPCOM television programme market in Cannes, France, October 14, 2019. REUTERS/Eric GaillardThe Warner Bros. movie studio will produce an anime feature film set in the world of J.R.R. Warner Bros. distributed "The Lord of the Rings" live-action film trilogy starting in 2001 and "The Hobbit" trio of movies starting in 2012. Warner Bros. is currently owned by AT&T Inc (T.N) but is in the process of merging with Discovery Inc (DISCA.O). Amazon.com Inc (AMZN.O) is working on a "Lord of the Rings" television series, which is currently being filmed in New Zealand.
Persons: Eric Gaillard, Rohan, Helm, Kenji Kamiyama Organizations: Warner, REUTERS, Warner Bros, AT, T Inc, Discovery Inc, Amazon.com Inc, Thomson Locations: Cannes, France, New Zealand
Mogul Diller says ViacomCBS, Comcast don’t need deals to succeed
  + stars: | 2021-06-10 | by ( Helen Coster | ) www.reuters.com + 0.95   time to read: +2 min
Barry Diller, Chairman and Senior Executive of IAC/InterActiveCorp and Expedia, Inc., speaks at the Wall Street Journal Digital conference in Laguna Beach, California, U.S., October 17, 2017. REUTERS/Mike BlakeViacomCBS Inc (VIAC.O) and Comcast Corp (CMCSA.O) can succeed without acquiring other businesses, IAC (IAC.O) Chairman Barry Diller said during a Reuters Newsmaker event Thursday. The media and Internet mogul, who helped found Fox Broadcasting Company, described competing with Netflix (NFLX.O), which would require significant investment, a "fool's errand" at this point. He described Comcast as being in a “fantastic position” with a cable and broadband business that hedges against NBCUniversal. The Internet and media mogul brushed off concerns about Netflix’s debt burden.
Persons: Barry Diller, Mike Blake ViacomCBS, Diller, , ” Diller Organizations: IAC, Inc, Wall Street Journal, REUTERS, Mike Blake ViacomCBS Inc, Comcast Corp, Reuters, Fox Broadcasting Company, Netflix, Discovery Inc, Discovery, Warner Brothers Discovery, MGM, MGM Resorts International, Comcast, NBCUniversal, Thomson Locations: Laguna Beach , California, U.S
Inside Credit Suisse’s $5.5 Billion Breakdown
  + stars: | 2021-06-07 | by ( Emily Glazer | Maureen Farrell | Margot Patrick | ) www.wsj.com sentiment -1.00   time to read: +1 min
His firm, Archegos Capital Management, had borrowed billions from Credit Suisse Group AG to make wagers on a handful of stocks, including the entertainment companies. As is standard practice, Archegos had handed over cash to Credit Suisse to secure its bets. The transfer essentially meant Archegos had even less cash on the line backing up its positions. They noticed an increasing risk in the concentration of the firm’s positions and demanded it back up its investments with additional cash, according to executives at the banks. Days later, ViacomCBS plunged, Archegos collapsed and the Swiss bank was stuck with a colossal loss.
Persons: rocketed, Bill Hwang, Archegos, ViacomCBS Organizations: ViacomCBS Inc, Discovery Inc, Archegos Capital Management, Credit Suisse Group AG, Credit Suisse, Credit Locations: Swiss
Medline Deal Signals Return to Days of Huge Leveraged Buyouts
  + stars: | 2021-06-06 | by ( Cara Lombardo | Miriam Gottfried | ) www.wsj.com sentiment -0.98   time to read: +1 min
The acquisition of Medline Industries Inc. that was agreed to over the weekend, the biggest leveraged buyout in more than a decade, serves as the clearest sign yet that the appetite for megadeals is rising as the pandemic eases and private-equity firms look to deploy mountains of cash. Blackstone Group Inc., Carlyle Group Inc. and Hellman & Friedman LLC said Saturday they struck a buyout deal that, according to people familiar with the matter, values the closely held medical-supply company at more than $30 billion—or around $34 billion including debt. That makes it the largest leveraged buyout since the 2007-08 financial crisis. In the U.S., $1.24 trillion of deals have been reached in 2021, up more than fourfold compared with the same period last year when lockdowns crimped economic activity and acquisition volume, according to Dealogic. But private-equity firms, tasked with putting over a trillion dollars to work, had largely shied away from the biggest deals—until now.
Persons: Hellman, lockdowns Organizations: Medline Industries Inc, Blackstone Group Inc, Carlyle Group Inc, Friedman, Discovery Inc, T Inc, Warner Media, Canadian National Railway Co, Kansas City Southern Locations: U.S
AT&T-Discovery media company to be called Warner Bros. Discovery
  + stars: | 2021-06-01 | by ( Helen Coster | ) www.reuters.com sentiment -0.85   time to read: 1 min
AT&T logo is seen on a smartphone in front of displayed Discovery and Warner Media logos in this illustration taken May 17, 2021. REUTERS/Dado RuvicAT&T (T.N) and Discovery Inc (DISCA.O) said on Tuesday that their recently announced standalone global entertainment and media business would be named Warner Bros. The companies said in May that they would combine content from WarnerMedia - including the Harry Potter and Batman franchises, news network CNN and sports programming - and Discovery's unscripted home, cooking and nature and science shows from lifestyle TV networks such as HGTV and TLC. read moreOur Standards: The Thomson Reuters Trust Principles.
Persons: Dado, Harry Potter Organizations: Warner Media, REUTERS, Discovery Inc, Warner Bros ., Batman, CNN, HGTV, TLC, Thomson
CNN Ramps Up Streaming Push as Discovery Merger Looms
  + stars: | 2021-06-01 | by ( Benjamin Mullin | ) www.wsj.com sentiment -0.93   time to read: +1 min
CNN’s plans for a new streaming service are coming into focus as the cable network’s parent company prepares to merge with Discovery Inc. The network’s effort coincides with recent moves by cable and broadcast competitors to bulk up streaming offerings as viewers shift away from traditional television. CNN has struck new deals over the past year with many of its anchors that encompass their work for CNN+, the people said. Those deals locked in pay increases for anchors but they don’t include bonuses tied to the streaming platform’s eventual subscriber numbers, the people said. CNN President Jeff Zucker said in a meeting with staffers last week that AT&T Inc.’s deal to spin off CNN parent WarnerMedia and merge that business with Discovery haven’t affected plans for CNN+, which he said would launch within the next year.
Persons: Anderson Cooper, Don Lemon, Cooper, Lemon, Jeff Zucker Organizations: Discovery Inc, CNN, Messrs, T Inc, Discovery
‘Warner Bros. Discovery’ Will Be Name of Media Colossus Formed in Merger
  + stars: | 2021-06-01 | by ( Benjamin Mullin | ) www.wsj.com sentiment -0.97   time to read: +1 min
The combination of AT&T Inc.’s WarnerMedia unit with Discovery Inc. won’t be completed until next year, but the new company already has a name: Warner Bros. Discovery Chief Executive Officer David Zaslav announced the name during a town hall meeting Tuesday with WarnerMedia CEO Jason Kilar. Mr. Zaslav, who will lead Warner Bros. Discovery, added that the name is meant to evoke the company’s focus on storytelling, exemplified by the nearly century-old Warner Bros. studio. But last week, Mr. Kilar told employees that he would stay until the merger is completed.
Persons: won’t, David Zaslav, Jason Kilar, Zaslav, , Humphrey Bogart, Sam Spade, , ” Mr, WarnerMedia, Tuesday’s, Kilar wasn’t, Kilar Organizations: T Inc, Discovery Inc, Warner Bros ., . Discovery, Warner Bros, Maltese, T’s, T, Mr
Stories starring real people are attracting some of the world’s biggest celebrities, from the Obamas to Kim Kardashian, as nonfiction programming has become essential to companies aiming to build streaming services. Unscripted shows and documentary projects tend to be cheaper to make than their scripted counterparts, offering the potential for bigger profits if they become popular. According to market-research company Reelgood, the cumulative number of reality TV shows offered on streaming services nearly doubled in the first quarter of this year when compared with 2020. AT&T Inc. placed a premium on this type of entertainment in its recent deal to merge WarnerMedia with Discovery Inc., a big player in unscripted programming known for its top-rated reality franchise “90 Day Fiancé” and others, such as “Fixer Upper.” Discovery Chief Executive David Zaslav said after the deal was announced that combining his company’s expertise in unscripted productions with WarnerMedia’s prowess in scripted shows will be explosive. In addition, the Kardashians are putting out a new show on Walt Disney Co. ’s Hulu streaming service, and Prince Harry and Meghan Markle’s Archewell Productions is making a documentary series for Netflix Inc. about military veterans competing in athletics after experiencing debilitating injuries or illnesses.
Persons: Kim Kardashian, , David Zaslav, Prince Harry, Meghan Markle’s Archewell, Barack, Michelle Obama’s, Oscar, Bob Bakish, Dave Grohl Organizations: T Inc, Discovery Inc, Walt Disney Co, Netflix Inc, Factory, ViacomCBS Inc, Paramount, Foo Fighters
AT&T WarnerMedia CEO Kilar says he will stay into 2022 -source
  + stars: | 2021-05-27 | by ( Sheila Dang | Helen Coster | ) www.reuters.com sentiment -0.96   time to read: +2 min
FILE PHOTO: The company logo for AT&T is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., September 18, 2019. REUTERS/Brendan McDermid/File Photo(Reuters) -Jason Kilar, chief executive of AT&T Inc’s WarnerMedia unit, said during an internal meeting on Thursday that he plans to remain in his role through this year and will reassess his options in 2022, according to a source familiar with the matter. “My plan and my focus is to remain here in my CEO role at WarnerMedia,” Kilar said during the meeting. Executives also said they have yet to work out how the companies’ combined properties and services will be arranged. The deal is expected to close in mid-2022, pending approval by Discovery shareholders and regulatory approvals.
Persons: Brendan McDermid, Jason Kilar, ” Kilar, , Kilar, David Zaslav, Harry Potter Organizations: New York Stock Exchange, REUTERS, AT, T, Discovery Inc, Discovery, Batman, CNN Locations: New York, U.S, WarnerMedia
WarnerMedia CEO Jason Kilar Says He Will Stay at Company at Least Through 2021
  + stars: | 2021-05-27 | by ( Joe Flint | ) www.wsj.com sentiment -0.99   time to read: 1 min
WarnerMedia Chief Executive Jason Kilar said in a companywide address Thursday that he has no plans to step down this year in the wake of AT&T Inc.’s decision to spin off and merge the media company with Discovery Inc., a person familiar with his remarks said. Mr. Kilar’s future as head of WarnerMedia was called into question after AT&T and Discovery unveiled their plans last week. He wasn’t kept in the loop about the pending deal. Mr. Kilar said he will reassess his options next year. (More to come)Write to Joe Flint at joe.flint@wsj.com
Persons: Jason Kilar, Kilar’s, WarnerMedia, wasn’t, Kilar, Joe Flint Organizations: T Inc, Discovery Inc, Discovery Locations: joe.flint
WarnerMedia Chief Executive Officer Jason Kilar said in a companywide address Thursday that he has no plans to step down this year in the wake of AT&T Inc.’s decision to spin off and merge the media company with Discovery Inc., a person familiar with his remarks said. Mr. Kilar’s future as head of WarnerMedia was called into question after AT&T and Discovery unveiled their plans last week. He wasn’t kept in the loop about the pending deal, people with knowledge of the matter said. Mr. Kilar said he would reassess his options next year. Speaking Thursday during a town hall meeting to celebrate the first anniversary of streaming service HBO Max, Mr. Kilar said: “My plan and my focus is to remain here in my CEO role at WarnerMedia.
Persons: Jason Kilar, Kilar’s, WarnerMedia, wasn’t, Kilar, HBO Max, ” Mr, , John Stankey, Organizations: T Inc, Discovery Inc, Discovery, HBO
U.S. Justice Department starts probe on Archegos collapse - Bloomberg News
  + stars: | 2021-05-27 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
REUTERS/Carlo Allegri(Reuters) - The U.S. Department of Justice is investigating the collapse of Bill Hwang’s Archegos Capital Management, which cost big global banks more than $10 billion in losses, Bloomberg News reported on Wednesday. Credit Suisse lost more than $5 billion and Japan’s Nomura lost almost $3 billion. U.S. banks such as Goldman Sachs, which also acted as brokers for Archegos, suffered much lower losses. A spokesperson for the U.S. attorney’s office in Manhattan declined to comment. Archegos could not be reached for a comment.
Persons: Carlo Allegri, Bill Hwang’s, Bill Hwang, Japan’s Nomura, Goldman Sachs, Archegos Organizations: REUTERS, U.S . Department of Justice, Capital Management, Bloomberg, Federal, Tiger Asia, Discovery Inc, Credit Suisse, Archegos, U.S Locations: Manhattan, New York City , New York, U.S
The company logo for AT&T is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., September 18, 2019. REUTERS/Brendan McDermid/File PhotoJason Kilar, chief executive of AT&T Inc's (T.N) WarnerMedia unit, said during an internal meeting on Thursday he does not plan to step down from his role this year, according to a source familiar with the matter. read moreOn a call with reporters after the deal had been announced, executives said details about Kilar’s future had yet to be worked out. Executives also said they have yet to work out how the companies’ combined properties and services will be arranged. The deal is expected to close in mid-2022, pending approval by Discovery shareholders and regulatory approvals.
Persons: Brendan McDermid, Jason Kilar, David Zaslav, Harry Potter Organizations: New York Stock Exchange, REUTERS, AT, T, Discovery Inc, Discovery, Batman, CNN, Thomson Locations: New York, U.S
Privately-held MGM, or Metro Goldwyn Mayer, was founded in 1924, owns the Epix cable channel and makes popular TV shows including "Fargo", "Vikings" and "Shark Tank." It's very exciting and provides so many opportunities for high-quality storytelling," said Mike Hopkins, senior vice president of Prime Video and Amazon Studios. Amazon's Prime Video faces a long list of competitors including Netflix Inc (NFLX.O), Walt Disney Co's Disney+ (DIS.N), HBO Max and Apple Inc's (AAPL.O) Apple TV+. In many cases, MGM’s content is tied up in multi-year deals with television networks, the former Amazon executives said. Bringing a new installment of the “James Bond” saga to Prime viewers may be a particularly difficult task, the sources said.
Persons: Charles Platiau, James Bond, Mike Hopkins, Walt Disney, HBO Max, Jeff Bezos, , that’s, Broccoli, Jeff Blackburn, Andy Jassy Organizations: Young Entrepreneurs, REUTERS, Inc, MGM, Netflix, Disney, Metro Goldwyn Mayer, Amazon Studios, Amazon's, Netflix Inc, HBO, Apple, T Inc, Discovery Inc, Foods, AT, Reuters, Globe, Amazon, NBC, Thomson Locations: Paris, France, Blackburn
The deal is designed to help Amazon supercharge its Amazon Prime Video service by keeping customers engaged and paying an annual subscription that also guarantees rapid delivery of purchases from its online store. It's very exciting and provides so many opportunities for high-quality storytelling," said Mike Hopkins, senior vice president of Prime Video and Amazon Studios. In many cases, MGM’s content is tied up in multi-year deals with television networks, the former Amazon executives said. Bringing a new installment of the James Bond saga to Prime viewers may be a particularly difficult task, the sources said. The terms under which MGM acquired the franchise leave control in the hands of the Broccoli family, the Bond films’ producers.
Persons: James Bond, Mark Makela, Mike Hopkins, Walt Disney, HBO Max, Jesse Cohen, Jeff Bezos, , that’s, Broccoli, Jeff Blackburn, Andy Jassy Organizations: Newark , Delaware U.S, REUTERS, Inc, MGM, Netflix, Disney, Metro Goldwyn Mayer, Amazon, Amazon Prime, Amazon Studios, Amazon's, Netflix Inc, HBO, Apple, National Football League, T Inc, Discovery Inc, Foods, AT, Reuters, Globe, Lambs, NBC, Thomson Locations: Christiana, Newark , Delaware, Hollywood, Blackburn
Mike Hopkins, senior vice president of Prime Video and Amazon Studios, said in a news release that MGM's library is rich with opportunities. In many cases, MGM’s content is tied up in multi-year deals with television networks, the former Amazon executives said. Amazon cannot simply air MGM’s reality show “The Voice,” for instance, which contractually is in the hands of NBC. Bringing a new installment of the James Bond saga to Prime viewers may be a particularly difficult task, the sources said. The terms under which MGM acquired the franchise leave control in the hands of the Broccoli family, the Bond films’ producers.
Persons: James Bond, Mike Hopkins, Walt Disney, HBO Max, Jesse Cohen, Mark Makela, Morgan Stanley, LionTree, Jeff Bezos, that’s, Broccoli, Jeff Blackburn, Andy Jassy Organizations: Amazon.com Inc, MGM, Netflix, Disney, Amazon's, Privately, Metro Goldwyn Mayer, Amazon Studios, Netflix Inc, HBO, Apple, National Football League, T Inc, Discovery Inc, Hollywood, Foods, Newark , Delaware U.S, REUTERS, AT, Reuters, Amazon, Globe, Lambs, NBC, Thomson Locations: Silicon Valley, Hollywood, Christiana, Newark , Delaware, Blackburn
"With the talented people at MGM and the talented people at Amazon Studios, we can reimagine and develop that IP for the 21st century." More than 175 million Prime members watched content on Amazon in the past year, and streaming hours were up 70%, he said. Amazon's Prime Video faces a long list of rivals including Netflix Inc (NFLX.O), Walt Disney Co's Disney+ (DIS.N), HBO Max and Apple Inc's (AAPL.O) Apple TV+. Bringing a new installment of the James Bond saga online instead of in theaters would be a particularly difficult task, the sources said. The terms under which MGM acquired the franchise leave control in the hands of the Broccoli family, the Bond films’ producers.
Persons: James Bond, Jeff Bezos, Bezos, Andy Jassy, Walt Disney, HBO Max, Jim Nail, Forrester, Mark Makela, Morgan Stanley, LionTree, that’s, Broccoli, Barbara Broccoli, Michael G, Wilson, Jeff Blackburn, Jassy Organizations: Amazon.com Inc, MGM, Netflix, Disney, Amazon's, Privately, Metro Goldwyn Mayer, Amazon Studios, Netflix Inc, HBO, Apple, National Football League, T Inc, Discovery Inc, Hollywood, Foods, AT, Reuters Breakingviews, Newark , Delaware U.S, REUTERS, Amazon, Seattle, Lambs, Reuters, NBC, Eon Productions, , Thomson Locations: Silicon Valley, Christiana, Newark , Delaware, Washington, Blackburn
Amazon to Buy MGM for $6.5 Billion Excluding Debt
  + stars: | 2021-05-26 | by ( Joe Flint | Dave Sebastian | ) www.wsj.com sentiment -0.68   time to read: +1 min
Amazon.com Inc. said it has agreed to acquire Hollywood studio MGM Holdings, a deal the e-commerce giant is betting can jump-start its Prime Video streaming platform and position it to compete with industry heavyweights including Netflix Inc. and Walt Disney Co. The purchase, which was unveiled Wednesday morning, has an equity value of $6.5 billion, people familiar with the matter said. Including debt, the value of the deal is $8.45 billion, Amazon said. It is the second-largest acquisition in the company’s history behind its $13.7 billion purchase of Whole Foods in 2017. Earlier this month, AT&T Inc. said it would spin off its WarnerMedia assets and merge them with Discovery Inc.
Persons: “ James Bond ”, , Walt Organizations: Amazon.com Inc, Hollywood, MGM Holdings, Netflix Inc, Walt Disney Co, Amazon, Foods, MGM, Lambs, Fargo, “ Vikings, T Inc, Discovery Inc, Walt Disney, Century Fox, Viacom Inc, CBS Corp
Discovery Faces Harsh Reality With WarnerMedia
  + stars: | 2021-05-25 | by ( Dan Gallagher | ) www.wsj.com + 0.00   time to read: +3 min
Last Monday’s announcement of a mega-media combination of Discovery Inc. DISCB -1.26% with the WarnerMedia business of AT&T T -0.87% initially thrilled the investors of both companies. And the combined company faces a rapidly changing media landscape with a growing list of competitors. Both Discovery and AT&T have to preserve the value of the WarnerMedia business during a highly uncertain period while awaiting regulatory approvals, which could take a year or more. The New York Times reported that WarnerMedia Chief Executive Officer Jason Kilar already has hired a legal team to negotiate his departure. As the home for the old Warner Bros. studio along with HBO and the Turner media properties, WarnerMedia specializes in broad offerings designed for mass appeal.
Persons: haven’t, Jason Kilar, Doug Creutz, Cowen, Disney, “ We’re, , WarnerMedia, HBO Max, Dan Gallagher, dan.gallagher Organizations: Discovery Inc, Hollywood, AT, MGM Holdings, Street, New York Times, Fox, Warner Bros, HBO, Turner, Food Network, HGTV, Bernstein Research, HBO Max, Investors, Netflix, Disney
CNN President Jeff Zucker said that anchor Chris Cuomo made a mistake when he advised his brother, New York Gov. Andrew Cuomo, on handling accusations of sexual harassment. During a town hall meeting with employees Tuesday, Mr. Zucker addressed matters including his own future atop the cable news network, Chris Cuomo’s actions, the dismissal of commentator Rick Santorum and changes related to the merger between CNN parent WarnerMedia and Discovery Inc., announced last week. Asked why CNN’s Mr. Cuomo wasn’t disciplined for participating in strategy sessions with the governor and his aides, Mr. Zucker acknowledged frustration among CNN employees who felt the conversations represented a conflict of interest and said that the younger Mr. Cuomo had “made a mistake.”“I am not surprised that Chris had conversations with his brother,” Mr. Zucker said. “Who wouldn’t?
Persons: Jeff Zucker, Chris Cuomo, Andrew Cuomo, Zucker, Chris Cuomo’s, Rick Santorum, Cuomo wasn’t, Cuomo, , , Chris, ” Mr, Mr, Chris ” Organizations: CNN, New York Gov, Discovery Inc, Democratic
In this article TDISCADISNFLXThe blockbuster WarnerMedia-Discovery deal is especially good news for HBO Max, billionaire media mogul John Malone told CNBC's David Faber. John Malone Matthew Staver | Bloomberg | Getty ImagesDisney+ ended the fiscal second quarter with 103.6 million subscribers, according to the company. AT&T said in April that HBO and HBO Max had a combined 44.2 million subscribers in the U.S. and nearly 64 million globally. "For me, the problem with HBO Max is it had no ability to go international at the time. "Netflix is a great company, Disney is a great company, but we have a portfolio of content that is very diverse and broadly appealing," said Zaslav, who will lead the new company.
Persons: HBO Max, John Malone, CNBC's David Faber, Malone, John Malone Matthew Staver, Discovery's, David Zaslav's, David Zaslav, Zaslav, Anjali Sundaram, FactSet, John Stankey's Organizations: HBO, Netflix, Disney, Bloomberg, Getty, U.S ., Liberty Media, CNBC, Discovery, CNN, Warner Bros, HGTV, Food Network, Discovery Inc, Discovery Communications, AT Locations: U.S
Axel Springer in Talks to Buy Axios
  + stars: | 2021-05-21 | by ( Benjamin Mullin | ) www.wsj.com sentiment -0.92   time to read: +1 min
German publishing conglomerate Axel Springer SE is in talks to purchase digital-news outlet Axios, according to people familiar with the matter, a deal that would add to the company’s U.S. holdings. Axios is seeking between $400 million and $450 million in a potential sale, according to a person familiar with a presentation to the company’s investors. Deal talks aren’t final and could still fall through, one of the people said, but they have gained momentum in recent weeks. Smaller companies, including Vice Media Group and BuzzFeed Inc., are each considering going public through special-purpose acquisition companies, or SPACs. Executives connected to Group Nine Media Inc., in which Axel Springer is also an investor, have launched a SPAC that aims to consolidate the digital-media sector further.
Persons: Axel Springer, Axios, aren’t Organizations: Axel, T Inc, Discovery Inc, HBO Max, Vice Media, BuzzFeed Inc, Nine Media Inc Locations: U.S
Jim Cramer places AT&T current, past CEOs on Wall of Shame: 'Thanks for nothing'
  + stars: | 2021-05-20 | by ( ) www.cnbc.com sentiment -0.99   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer places AT&T current, past CEOs on Wall of Shame: 'Thanks for nothing'After AT&T announced that it will spin off and merge WarnerMedia with Discovery Inc., "Mad Money" host Jim Cramer slammed the telecom giant's leadership for putting dividend-minded investors at risk.
Persons: Jim Cramer Organizations: T, Discovery Inc
AT&T-Warner Deal Puts Some Discovery Insiders Ahead From the Start
  + stars: | 2021-05-19 | by ( Theo Francis | ) www.wsj.com sentiment -0.98   time to read: +1 min
Some of Discovery Inc.’s biggest shareholders are getting a premium price for their stakes in the media company under the deal that combines it with AT&T Inc.’s media business, securities filings show. The companies have yet to file formal registration statements detailing the transaction. But available details show the degree to which insiders are poised to benefit from a deal that shook the media and telecommunications landscapes on Monday, when AT&T said it would spin off HBO, CNN and the rest of its WarnerMedia division and combine it with Discovery. Some of the preferred shares held by Advance and Newhouse give the investors “consent rights” over major decisions, including issuing new stock, mergers and other business combinations, Discovery’s most recent annual report notes. Under the deal proposed by AT&T and Discovery, the resulting company will emerge with a single share class, eliminating the special privileges that the Advance/Newhouse investors have, securities filings say.
Organizations: Discovery Inc, T Inc, Advance, Inc, Newhouse Broadcasting Corp, HBO, CNN, Newhouse, AT
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