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☆ Warner Bros. Discovery misses first-quarter estimates despite streaming growth
▼ + stars: | 2024-05-09 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

In this article WBD Follow your favorite stocks CREATE FREE ACCOUNTIn this photo illustration, the Warner Bros. Here is how Warner Bros. Discovery performed, compared with estimates from analysts surveyed by LSEG: Loss per share: 40 cents vs. 24 cents loss expected40 cents vs. 24 cents loss expected Revenue: $9.96 billion vs. $10.231 billion expected Warner Bros. Warner Bros. While NBCUniversal holds the U.S. rights for the Olympics, airing the games on its TV networks and Peacock streaming service, Warner Bros.

Persons: Rafael Henrique, Discovery, —, Max, Hulu —, I've, David Zaslav, Zaslav, NBCUniversal, Discovery's Max Organizations: Warner Bros, Getty, Discovery, TNT, Justice League, Disney, Hulu, CNBC, Warner Bros . Discovery, Fox Corp, Sports, NBA, Olympics Locations: U.S, Paris, Europe

Disney and Warner Bros. Discovery are planning to offer their streaming services — Disney+, Hulu and Max — in a bundle mirroring the traditional cable TV package, the companies said Wednesday. Disney will essentially act as the distributor in this case, collecting subscription fees from subscribers and paying out Warner Bros. Warner Bros. Disney has been offering its streaming services — Disney+, Hulu and ESPN+ — as a bundle for sometime.

Persons: Max —, Lachlan Murdoch Organizations: Disney, Warner Bros, Hulu, ABC, Fox, TNT, TBS, CNN, Discovery Channel, Food Network, Disney Channel, Warner Bros ., ESPN, Fox Corp, Warner Bros . Discovery Locations: Max

☆ Stocks making the biggest moves after hours: Chipotle, Snap, Ford, Warner Bros. Discovery and more
▼ + stars: | 2024-02-06 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Mercury Systems — Shares of the technology company fell nearly 12% after missing Wall Street estimates in the fiscal second quarter. Viasat — Shares in the communications firm gained more than 5% after Viasat surpassed Wall Street estimates for revenue in the third quarter. The company notched revenue of $1.13 billion while analysts polled by FactSet forecast $1.11 billion. Analysts polled by LSEG expected the company to earn 77 cents per share on revenue of $3.24 billion. Chipotle — Shares added nearly 3% after beating Wall Street estimates on the top and bottom lines in the fourth quarter.

Persons: FactSet, LSEG, Chipotle Organizations: Mercury, Viasat —, Viasat, Wall, FactSet, LSEG, Corp, —, Gilead Sciences, Gilead Sciences — Stock, Ford — Stock, Ford, Disney, Warner Bros, Discovery, Fox Corp, Fox, Warner Bros ., ESPN Locations: Gilead, Gilead Sciences —

☆ Stocks making the biggest moves midday: Beyond Meat, Chegg, PNC Financial, Dish & more
▼ + stars: | 2023-08-08 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

The health care company reported earnings per share of $1.31. Organon posted $1.61 billion in revenue, beating analysts' expectations of $1.57 billion. Beyond Meat — The plant-based meat company fell 16% during midday trading after missing on second-quarter revenue, citing weak U.S. demand. The fragrance and cosmetics company reported revenue of $2.93 billion, falling shorter than analysts' estimates of $3.07 billion, according to StreetAccount. See Corp. — Shares of the packaging company lost 7% after See missed revenue expectations for the second quarter.

Persons: Moody's, Goldman Sachs, JPMorgan Chase, Organon, StreetAccount, Chegg, Charlie Ergen, EchoStar, Eli Lilly —, Eli Lilly, Palantir, —, Samantha Subin, Jesse Pound, Alex Harring, Hakyung Kim Organizations: PNC Financial, Citizens, T Bank —, T Bank, Webster, PNC, JPMorgan, Nordisk —, Technologies, Refinitiv . Fox Corp, Corp, —

☆ Fox News names Jesse Watters as replacement for Tucker Carlson primetime slot
▼ + stars: | 2023-06-26 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Jesse Watters host of "The Five" interviews Jenna Bush Hager and Barbara Bush during "The Five" at Fox News Studios on November 13, 2017 in New York City. Fox News has named Jesse Watters as the newest star of its 8 p.m. ET primetime slot, as the network looks to boost ratings two months after ousting Tucker Carlson from the post. He is currently the host of the 7 p.m. opinion show "Jesse Watters Primetime," and appears regularly on "The Five," one of Fox News' highest rated programs. There was no sendoff for Carlson and his "Tucker Carlson Tonight," which had long been one of Fox's most-watched shows.

Persons: Jesse Watters, Jenna Bush Hager, Barbara Bush, Tucker Carlson, Watters, Laura Ingraham's, Sean Hannity's, Greg Gutfield's, Suzanne Scott, Laura Ingraham, Sean Hannity, Greg Gutfeld, Carlson Organizations: Fox News Studios, New York City . Fox News, Fox News, FOX, Fox, Fox Corp, Systems, Twitter, Dominion, NBC Locations: New York City

☆ Desperate for streaming profits, media giants look to a soft ad market for help
▼ + stars: | 2023-05-20 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +8 min

(AP Photo/Universal Pictures) Photo Credit: Universal Pictures/Tippett StudioAfter spending years amassing streaming subscribers at great cost, media companies now need to make some profits. Look no further for proof of that than the most recent annual Upfronts, the events where media companies like Fox Corp ., Warner Bros. During Disney's earnings call earlier this month, CEO Bob Iger put new emphasis on ad-supported streaming. 'We need ads'There's been an uptick of consumers signing up for ad-supported streaming subscriptions. But media companies are struggling with the question of whether ad-tier subscriptions make up for other losses.

☆ Tucker Carlson breaks his silence without addressing why Fox News fired him
▼ + stars: | 2023-04-26 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Tucker Carlson broke his silence on Wednesday night, two days after his unceremonious exit from Fox News. On Monday, Fox News fired Carlson, noting his last show aired on Friday. "FOX News Media and Tucker Carlson have agreed to part ways," the company said in a statement Monday. Vulgar private messages about his colleagues pushed Fox leadership toward letting go Carlson, The Wall Street Journal reported. Executives at Fox found out about the messages on the eve of the trial, according to The New York Times.

☆ What Dominion's lawsuit could mean for Fox and its cable TV networks
▼ + stars: | 2023-04-13 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +5 min

Michael M. Santiago | Getty Images News | Getty ImagesDominion Voting System's defamation lawsuit against Fox Corp . and its cable TV networks will go to trial in the coming days, but the jury is still out on what, exactly, the lawsuit means for Fox and its business. Dominion brought its lawsuit against Fox and its TV networks, Fox News and Fox Business, in March 2021, arguing their hosts pushed false claims that Dominion's voting machines were rigged in the 2020 presidential election that saw Joe Biden triumph over Donald Trump. Worsen [Fox Corp. Stock Chart Icon Stock chart icon Fox Corp.'s stock has remained stable in recent months as evidence implicating its TV hosts and executives have come to light in Dominion's defamation lawsuit. Oftentimes, companies will pull their ads when TV networks are embroiled in controversy.

☆ Dominion wants Tucker Carlson, Sean Hannity, other Fox News hosts to testify at trial
▼ + stars: | 2023-03-28 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +5 min

Dominion's live witness list of Fox Corp .'s right-wing TV networks includes Tucker Carlson, Sean Hannity, Maria Bartiromo and Jeanine Pirro, as well as former host Lou Dobbs and Fox News CEO Suzanne Scott, according to court papers. Dominion has pointed to 20 broadcasts in which they believe the hosts on Fox News and Fox Business repeated false claims of election fraud and continuously had on guests who repeated those claims. Documents, including text messages and emails, show Fox's TV hosts were skeptical of the election fraud claims being made on air. Dominion is also requesting the depositions of Fox Corp. executives, including Chairman Rupert Murdoch and CEO Lachlan Murdoch, as well as others, be included in the trial. "Dominion's needlessly expansive live witness list is yet another attempt to generate headlines and distract from the many shortcomings of its case.

☆ News Corp. announces it will cut 1,250 positions this year
▼ + stars: | 2023-02-09 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

News Corp . said Thursday it will cut about 1,250 positions, or 5% of its workforce, in the latest round of layoffs that have hit the media and tech industries in recent months. Rupert Murdoch's media company, which owns such names as The Wall Street Journal, the New York Post, Barron's and HarperCollins, said the tough marcoeconomic environment and higher interest rates have been hurting the company. On Thursday the company reported earnings results and said its quarterly revenue decreased 7% to $2.52 billion from the year-earlier period. Thomson noted that despite "the obvious global challenges," its professional information business at Dow Jones, the publisher of the Journal, saw revenue surge. Quarterly revenue for the overall Dow Jones segment rose 11% from the year-earlier period.

☆ CBS-owned stations added to free, rapidly growing local news streaming service VUit
▼ + stars: | 2022-12-09 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +6 min

He added: "It's a double-edged sword when making the transition to the [streaming] TV world." TV and streaming services are crawling all over each other for more content that retains viewers. Some companies like Sinclair have created their own free streaming services, and many affiliates use their websites and build their own apps to offer newscasts. VUit aims to work with CBS's local stations to boost their hyperlocal events on the platform and attract more eyeballs. A recent Iceman Challenge mountain bike race in Traverse City, Michigan, available only from local station WWTV on VUit's platform, garnered thousands of viewers.

☆ Rupert Murdoch will be deposed in Dominion's $1.6 billion lawsuit against Fox
▼ + stars: | 2022-12-06 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Fox Corp . Chairman Rupert Murdoch is scheduled to appear for a deposition next week as part of Dominion Voting's defamation lawsuit against the company and its cable TV networks. In its $1.6 billion lawsuit against Fox, Dominion has argued that Fox News and Fox Business made false claims that its voting machines were rigged in the 2020 presidential election between Donald Trump and Joe Biden. Earlier this year Fox's TV personalities, including Maria Bartiromo, Sean Hannity, Tucker Carlson and Jeanine Pirro, appeared for depositions. Dominion has argued Fox and its top executives played a role in Fox's TV personalities spreading misinformation about voter fraud. And with the Dominion case moving closer to the trial's expected start date in April, neither side has shown signs of entering settlement talks.

☆ Fox CEO Lachlan Murdoch to face questioning as part of Dominion Voting's $1.6 billion lawsuit
▼ + stars: | 2022-12-01 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Lachlan Murdoch, co-chairman and chief executive officer of Fox Corp., attends the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, July 11, 2019. Fox Corp . CEO Lachlan Murdoch is slated to appear for a deposition on Monday as the Dominion Voting Systems defamation lawsuit against the company and its cable networks moves forward. Dominion's lawsuit against Fox, which is seeking $1.6 billion in damages, has argued Fox News and Fox Business made false claims its voting machines rigged the results of the 2020 election between Donald Trump and Joe Biden. A Fox Corp. spokesman declined to comment on Thursday. Fox has previously asked the court to keep all collected materials private, claiming Dominion mischaracterized what the documents show as actual malice.

☆ Women athletes now have their own sports network
▼ + stars: | 2022-11-02 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +4 min

The first-ever network to focus on female athletes, the Women's Sports Network, launched Wednesday, offering 24/7 streaming of original programming, competitions, documentaries and a daily studio show "Game On." The Women's Sports Network is a free, ad-supported network featured on streaming services including Amazon.com 's Freevee, Fox Corp .'s FuboTV and Tubi, along with smart TVs. The Women's Sports Network has partnerships with the Women's National Basketball Association, Women's Football Alliance, Ladies Professional Golf Association, U.S. Female athletes at the collegiate level are also proving to be winners in the NIL era, garnering deals with brands including Nike now that college athletes can be paid for their name, image and likeness. "The Women's Sports Network is exactly what athletes, fans and sponsors have been asking for," Mollie Marcoux Samaan, commissioner of the Ladies Professional Golf Association, said in a release announcing the network launch.

☆ Fox earnings lifted by advertising revenue from free streaming service Tubi
▼ + stars: | 2022-11-01 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

Fox Corp .'s bet on its free, ad-supported streaming service Tubi appears to be paying off for the company. On Tuesday, the company reported earnings for its first fiscal quarter, noting that Tubi helped boost its advertising revenue. Fox said its advertising revenue in the quarter was also propelled by political ads leading into the midterm elections. On a call with investors, Murdoch said that Tubi's revenue for the first time surpassed the advertising revenue generated by Fox Entertainment "in a meaningful way." Murdoch called the investment "very modest" when compared with premium subscription streaming services.

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