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NBCUniversal CEO says Tokyo Olympics could be most profitable ever for company
  + stars: | 2021-06-14 | by ( Helen Coster | ) www.reuters.com sentiment -0.99   time to read: +2 min
REUTERS/Pawel Kopczynski/File PhotoNBCUniversal Chief Executive Jeff Shell said on Monday that the upcoming Tokyo Games could be the most profitable Olympics in NBC’s history. Every Olympics has an issue that people worry about in the run up to the Games, Shell said. In March 2020, NBCUniversal said it had sold more than $1.25 billion in national advertising for the Tokyo Olympics, a record for any broadcaster for the event. Shell on Monday said the company had officially completed its advertising sales “upfront,” which he said was the strongest in the history of NBCUniversal. On June 7, the company said it will air an "unprecedented" 7,000 hours of coverage for the Tokyo Games across its multiple television networks and streaming platform Peacock.
Persons: Pawel, Jeff Shell, ” Shell, Shell, , NBCUniversal Organizations: Tokyo Olympic Games, REUTERS, Credit, Communications Conference, Games, Tokyo, Tokyo Games, Tokyo Olympics, Comcast Corp, Thomson Locations: Tokyo, Japan, London
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
TOKYO (Reuters) - Despite growing local opposition amid the coronavirus pandemic, the Tokyo Olympic Games that were postponed last year will get under way in less than two months - barring “Armageddon”, as one International Olympic Committee member said. Local ticket sales have typically accounted for 70-80% of the total at past Olympic Games. Analysts with the financial services firm Jefferies estimate the insured cost of the 2020 Olympics at $2 billion, including TV rights and sponsorship, plus $600 million for hospitality. In 2019, Japan hosted 31.9 million foreign visitors, who spent nearly 4.81 trillion yen ($44 bln). “If the (Olympic Games) trigger the spread of infections and necessitates another emergency declaration, then the economic loss would be much greater,” Kiuchi said.
Persons: Miraitowa, Stringer, NBCUniversal, Takahide Kiuchi, ” Kiuchi Organizations: Tokyo Olympic Games, Olympic, REUTERS, Tokyo, Local, Olympic Games, Olympics, Toyota, Bridgestone, Panasonic, Samsung, International Olympic Committee, IOC, Summer, Jefferies, Games, Variety, Comcast, Discovery Communications, Eurosport, HIT, Nomura Research Institute, Nomura Research Locations: TOKYO, Tokyo, Japan, Europe
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
In 2016, the two-week event attracted an average of 27.5 million viewers across all NBC platforms, and delivered 3.3 billion minutes of streaming video. The 2012 Games in London attracted roughly 31 million viewers, and the 2008 Beijing Olympics averaged 27 million viewers. More than 5,000 hours will stream on NBColympics.comIn addition, cable sports network NBCSN will broadcast more than 440 hours and USA Network more than 380 hours on USA Network. The Olympic Channel will show Team USA competitions, including wrestling and tennis. CNBC will show more than 100 hours of competitions during its prime-time programming hours, including diving, beach volleyball, rowing, water polo and rugby.
Persons: Simone Biles Organizations: Senior, U.S, Dickies Arena, CNBC, Tokyo, NBC, Beijing Olympics, USA, USA Network, Telemundo Deportes Locations: Fort Worth , Texas, London
Some students considered the debacle to be a result of a professor who had pushed the limits at Yale for years. Almost all sides saw it as the inevitable eruption of a long-simmering tension between the most elite law school in America and its most famous professor. For many young entrepreneurs with dreams of launching a startup and making it big in Silicon Valley, Calacanis is the first stop on the journey. In that same vein are the baby boomers — millions of whom are exiting the workforce years earlier than planned because of COVID-19. ET for a free virtual event on translating the HR digital revolution to everyday work, presented by Paycom.
Persons: Matt Turner, Peter Kramer, NBCUniversal, Amy Chua, she's, Chua, Jed Rubenfeld, Brett Kavanaugh, Duffy, Marie Arnoult, Samantha Lee, heeding Jason Calacanis, Calacanis, Marianne Ayala, X, Bill Clark, Read, Paycom, — Matt Organizations: Insider's Business, Getty, Yale, Yale Daily News, New York Times, Bloomberg, Inc, Capitol Locations: America, Silicon Valley, Brooklyn, Calacanis, YOLO
Fauci responded: "This pandemic has been extremely challenging for many countries around the globe including China and the USA. As director of the National Institute of Allergy and Infectious Diseases within NIH, Fauci was at the center of the storm. Covid cases and deaths in the U.S. had climbed to terrifying new highs since Trump declared the pandemic a national emergency a month before. 2,000 emails a dayFauci showed patience, diplomacy and diligence in his often late-night replies to high-level U.S. officials, famous performers and everyday people. Brad Pitt as Dr. Anthony Fauci during the "Fauci Cold Open" on "Saturday Night Live" on April 25, 2020.
Persons: Anthony Fauci, Anna Moneymaker, Robert Redfield fretting, Donald Trump, Fauci, Bob Redfield, Stefan Jeremiah, Trump, Mike Pence, Alex Azar, Jonathan Ernst, Deborah Birx, Andrew Harrer, J, Larry Jameson, Quilter Ami Simms, she's, Andrea Lerner, Isabel Pavia, didn't, Sylvia Burwell, Barack Obama, Charly Triballeau, George Gao, Gao, Michael Gerson, Francis Collins, Hugh Auchincloss, Thomas Peter, Reuters Fauci, Auchincloss, Emily, Joe Biden, Brad Pitt Organizations: National, Of Allergy, Diseases, U.S, Senate Health, Education, Labor, Capitol, Reuters, National Institutes of Health, World Health Organization, WHO, Technicians, NIH, BuzzFeed, National Institute of Allergy, Health, Human Services, White, House, HHS, Washington , D.C, Bloomberg, Getty, University of Pennsylvania, AS Fauci, Woman, American University, AFP, Washington Post, Wuhan, Virology, Wuhan Institute of Virology, Wuhan Institute, Nature, NBC, NBCUniversal Locations: Washington, COVID, China, USA, New York City , New York, U.S, Rose, Beijing, Washington ,, Wuhan, Tokyo's Ginza, Hubei province
But language in the 12-page complaint suggests the feds' interest in the former beauty queen, who married El Chapo when she was 19, goes deeper. "The Sinaloa cartel is a very resilient cartel," he said. They live under assumed names, and "American Greed" agreed to keep the location of the interview a secret. Another insider who turned on El Chapo was Vicente Zambada Niebla, oldest son of the current kingpin of the Sinaloa cartel, Ismael "El Mayo" Zambada. Vicente Zambada, who is serving a 15-year prison term after pleading guilty to reduced charges, testified against El Chapo while Coronel watched in the courtroom.
Persons: Joaquin, El, Guzman, Emma Coronel Aispuro, Coronel, El Chapo, Mike Vigil, CNBC's, Vigil, Jeffrey Lichtman, Lichtman, NBCUniversal's, Ioan Grillo, Grillo, Peter, Jay Flores, Flores, Olivia Flores, Jay, Mia Flores, Joaquin Guzman Loera, el Chapo Guzman, Alfredo Estrella, Olivia, Mia, Vicente Zambada Niebla, Ismael, Zambada, Vicente Zambada Organizations: U.S . Drug, U.S, District of Columbia, NBCUniversal's Telemundo, Telemundo, Star, AFP, Getty, El Locations: Sinaloa, Mexico, U.S, Coast, California, Arizona, Brooklyn, New York, Mexico City, Chicago, El Chapo, Mexican, El Mayo
HBO Max rolled out an ad-supported version that it's touting as having the lowest ad load of competitors. Ad buyers welcome the low ad load and frequency capping options. WarnerMedia just rolled out an ad-supported version of HBO Max that it's pitching as a premium product with the lowest commercial ad load in the streaming industry. But Josh John, SVP of performance intelligence at Edelman, said HBO Max's audience size could be another sticking point. HBO Max had just 10 million domestic subscribers in the first quarter while leading service Netflix had 207 million globally.
Persons: HBO Max, WarnerMedia, Omnicom, NBCUniversal's, NBCUniversal's Peacock, Mike McHale, McHale, Turner, I'm, OTT, Josh John, Edelman, John, Peacock Organizations: HBO, WPP, Hulu, Disney, Noble People, Warner, CNN, Cartoon Network, Discovery, BIA, Netflix, YouTube, Paramount
Future head David Zaslav is expected to favor top movie and TV talent with strong Hollywood ties. Insiders are speculating about what that means for execs including Ann Sarnoff and Toby Emmerich. Ann Sarnoff: The chairwomen and CEO of Warner Bros. joined not from the tight-knit Hollywood community but from the tiny BBC Studios in 2019. Toby Emmerich: the chairman of Warner Bros. Pictures Group is a known quantity to Zaslav and is widely believed to be safe. Channing Dungey: The chairwoman of Warner Bros. TV Group recently joined from Netflix, after an illustrious run at ABC where she oversaw hits from Shonda Rhimes and brought back "American Idol."
Persons: David Zaslav, Ann Sarnoff, Toby Emmerich, Gunnar Wiedenfels, Perrette, Bruce Campbell, Adria Albert Romm, David Leavy, Jason Kilar, Zaslav, Harry Potter, Sarnoff, Jason Kilar's, John Stankey, Donna Langley, Stacey Snider, Liz Murdoch's, David Geffen, Channing Dungey, Shonda Rhimes, Dungey, Rebecca Marks, Warner, Bruce Rosenblum, Richard Tom, Kilar, HBO Max, Avi Saxena, Christy Haubegger, it's, Haubegger, Allen Grubman, Jeff Zucker, Zucker, what's, Kevin Mayer, There's, Bob Chapek, Mayer, that's, Richard Plepler, HBO honcho, there's Organizations: Hollywood, Discovery, West Coast, Scripps, Warner Bros, AOL, BBC Studios, HBO Max, AT, Warner Bros . Pictures, Hollywood Reporter, Netflix, Warner Bros . TV Group, ABC, Warner TV, HBO, Amazon, CAA, Leavy, Latina Magazine, New York Times, Street Journal, CNN, CEO's, NBA, Disney, Consumer, International, Hulu, Apple, Time Warner, Warner Locations: Hollywood, Zaslav's, Casablanca, NBCUniversal, WarnerMedia
Here are the next media mergers that make the most sense
  + stars: | 2021-05-29 | by ( Alex Sherman | ) www.cnbc.com + 0.00   time to read: +3 min
Rafael Henrique | LightRocket | Getty ImagesNBCUniversal and LionsgateBuying Lionsgate would help Comcast's NBCUniversal on two different fronts. Lionsgate owns shows including "Mad Men," "Orange is the New Black," "Nashville" and "Zoey's Extraordinary Playlist." Second, Lionsgate owns premium network Starz, which would fit seamlessly with NBCUniversal's offerings. Unlike NBCUniversal, ViacomCBS doesn't have a large cable news network. While ViacomCBS also owns a movie studio, Paramount has been a much smaller box office presence than Universal in recent years.
Persons: Rafael Henrique, LightRocket, Comcast's NBCUniversal, NBCUniversal, John Feltheimer, Peacock, John Malone, WarnerMedia's Warner, Shari Redstone's, ViacomCBS, Malone, there's Organizations: HBO Max, Discovery Communications, Getty, Lionsgate, Starz, Comcast, CNBC, CNN, MSNBC, WarnerMedia's, WarnerMedia's Warner Bros, CBS, NBC, Paramount, Universal, Warner Bros, Disney, AMC Networks
Free speech advocate Suzanne Nossel said Thursday she found John Cena's apology to China "troubling" after he called Taiwan a country during a promotional interview for his upcoming film, "Fast and Furious 9." "It felt like a forced confession," Nossel, the CEO of nonprofit Pen America, told CNBC's "The News with Shepard Smith." Pen America aims to defends human rights and free speech around the world. Cena issued his apology Tuesday on Chinese social media. While the U.S. does not formally recognize Taiwan as a country, it does support the Taiwanese government in various informal ways.
Persons: Suzanne Nossel, John Cena's, CNBC's, Shepard Smith, Cena, Nossel, John Cena, Universal's Organizations: Pen America, Washington, NBCUniversal, NBC News, CNBC Locations: China, Taiwan, U.S, Korea, Hong Kong
American actor and wrestling star John Cena has apologized on Chinese social media after getting tangled up in a geopolitics scandal by calling Taiwan a country. Even though Taiwan has its own government, democratic elections and army, most governments around the world don’t recognize it as a country. I’m very, very sorry for my mistake.”He did not elaborate on what exactly he was apologizing for and did not directly mention Taiwan. he wants Chinese people to forgive him but he also doesn't want to offend idiot Taiwan and the West." Former President Donald Trump angered Beijing by sending Cabinet officials to visit Taiwan in a show of support.
Persons: John Cena, Cena, , , ” Cena, Donald Trump Organizations: TVBS, Furious, NBC, Weibo, Universal, NBCUniversal, NBC News, Communists, Nationalists, Beijing, Chinese Communist Party, Reuters Locations: Taiwan, ” Beijing, China, Weibo, Korea, Hong Kong, Taipei, The U.S, Taipei and Washington
Reality TV star Kim Kardashian West failed to pay overtime, cover expenses and provide legally mandated breaks to workers cleaning and maintaining her California home, they alleged in a lawsuit filed Monday. Workers accused Kardashian West of withholding 10 percent of their pay for taxes while not actually reporting their employment to tax authorities. The 40-year-old Kardashian West runs a media, cosmetics and clothing empire and earlier this year was named in Forbes magazine's list of billionaires for the first time. In recent episode, Kardashian West argued with Kourtney Kardashian, accusing her sister of yelling at the former's nanny. "She said that she felt so degraded by you," Kardashian West said.
Persons: Kim Kardashian, Kardashian, Frank Kim, Kim, Kourtney Kardashian, Kourtney Organizations: Court, Workers, Los, West, Forbes, NBCUniversal, NBC Locations: California, Los Angeles, Hidden, Santa Monica, L.A . County
Auerbach, who was promoted to global cohead of TMT in July, is among a team of four TMT bankers that joined UBS from Jefferies in 2015. Jose A. Bernat Bacete/Getty ImagesTony Kerrison, Bank of America's CTO, is expected to now report directly to Cathy Bessant, the bank's top tech executive. Kerrison, who leads the bank's tech infrastructure, has also expanded his duties, and the promotion underscores the bank's commitment to cloud technology. The firm hired five people last month from Silicon Valley Bank and Bank of America. Execs leading specialized industries for middle-market banking and VC coverage walked us through the bank's next steps and hiring plans.
Persons: Morgan Stanley, Jason Auerbach, Ellis, Mala Gaonkar, Cathy Bessant, Carl Court, Leerink, Auerbach, Chris Montgomery, Tayfun, Nicolas Economou, Samantha Lee, Goldman Sachs, David Solomon, Read, Morgan Stanley Andrew Burton, Marianne Lake, Jennifer Piepszak, Jamie Dimon —, Lori Beer, Mary Callahan Erdoes, James Gorman, Michael Blann, Jose A, Bacete, Tony Kerrison, Kerrison, Stephen Mandel Jr, Adam Jeffery, NBCUniversal, Shayanne, Lone Pine, Kelly Granat, David Craver, She's, David Byrne, Malcolm Gladwell, Wager, Execs, Michael Miebach's, Wells, Merrill Organizations: Finance, JPMorgan, UBS, Kirkland, Bank of, Jefferies, SVB, Anadolu Agency, Getty Images, York City steakhouse, Getty, Industry, Bank, America's, Silicon Valley Bank and Bank of America, Deutsche Bank, Mastercard, Facebook, & $ Locations: TMT, York, Piepszak, Lone, Silicon
Ad-supported streaming steals the show at TV upfronts
  + stars: | 2021-05-22 | by ( Megan Graham | ) www.cnbc.com + 0.00   time to read: +4 min
With so many eyeballs moving into streaming, networks want advertisers to flock to their ad-supported streaming offerings. Ads in streamingThough streaming has been historically dominated by ad-free paid subscription platforms like Netflix, ad-supported services are gaining ground, according to eMarketer. In January 2021, 34% of U.S. households that had video streaming capability used ad-supported streaming services, up 6 percentage points from January 2020, according to Nielsen data. That applies both to ad-supported on-demand video platforms and linear streaming. During its presentation, for instance, WarnerMedia touted its forthcoming ad-supported service, promising light ad loads and less invasive ad types.
Persons: HBO Max, Gabby Jones, Fox, Comcast's NBCUniversal, ViacomCBS, Wells, Tubi, NBCU, WarnerMedia, Jim Nail, Forrester Organizations: T Inc, HBO, Bloomberg, Getty, Max, Discovery, Disney, Netflix, Nielsen, Cable, Fox, Insider Intelligence, B2C, & $ Locations: Brooklyn Borough, New York, U.S, Fox, Hulu, eMarketer
Business mogul Barry Diller on Friday ripped into Apple over the fees it charges companies that have applications on the iPhone maker's App Store. Apple steadfastly defends its policies, saying the money it gets from commission fees goes into maintaining and securing the App Store in a way that ultimately benefits app makers. "The idea that they actually justify it by saying, 'We spend all this money protecting our little App Store,'" Diller said. Apple has a "quasi-monopoly" along with Alphabet's Google, which runs the Google Play app store for Android devices, Diller said. Diller took aim at the way Apple forces in-app transactions to flow through the App Store's payments system.
Persons: Barry Diller, Expedia, Apple, Diller, Tim Cook, you've, NBCUniversal's Peacock Organizations: Apple, IAC, Epic Games, Google, FCC, Fox, Paramount Pictures, CNBC, Netflix, Disney
Netflix has already won the streaming wars, media mogul Barry Diller told CNBC on Friday. "Netflix won this several years ago, they're the only ones who have the scale and momentum to keep making these somewhat lunatic investments in programming," Diller, the chairman of IAC, said in an interview with Andrew Ross Sorkin. "You cannot compete with the momentum, the scale, no one will ever be able to do that." However, Diller said doesn't think the new deal will lead to a company that can take over Netflix's success. Still, the deal can be considered the "great escape" for AT&T, Diller said.
Persons: Barry Diller, Diller, Andrew Ross Sorkin, Disney's, Comcast NBCUniversal's, ViacomCBS, David Zaslav, doesn't, Ma Bell Organizations: Netflix, CNBC, IAC, Disney's Hulu, Disney, Comcast, Paramount, AMC Networks, AMC, T, Apple, YouTube
What's the next mega media deal? Maybe nothing
  + stars: | 2021-05-19 | by ( Analysis Frank Pallotta | Cnn Business | ) edition.cnn.com + 0.00   time to read: +6 min
New York (CNN Business) Following the mega-merger between Discovery and CNN's parent company WarnerMedia on Monday, the biggest question in the media world now is "what's next?" In one way or another, the prevailing view by media observers seems that more mergers and acquisitions are on the way. Traditional media companies like Comcast's NBCUniversal and ViacomCBS could buy up networks and studios to bring in more content, or possibly partner up. Yet there are "massive conflicts" to the two coming together, according to Michael Nathanson, a media analyst at MoffettNathanson. That could indeed happen since the Discovery and WarnerMedia deal proves that anything is possible in the streaming wars.
Persons: WarnerMedia, ViacomCBS, Mark Zgutowicz, Zgutowicz, Peacock, NBCUniversal, Michael Nathanson, Nathanson, they're, HBO Max Organizations: CNN, Discovery, titans, MGM, Netflix, Rosenblatt Securities, CNN Business, Paramount, AMC Networks, Lionsgate, CBS, Disney, Nickelodeon, NBC, NFL, Sony, Sony Pictures, HBO Locations: York, Hollywood, NBCUniversal, New York City
This story was first published in January and was updated on May 19 with new reporting after Discovery and WarnerMedia announced merger plans. And companies including Lionsgate, Sony Pictures Entertainment, and Legendary Pictures are being looked at as potential takeover targets. Insiders are looking to smaller and mid-sized companies like AMC, Lionsgate, Sony Pictures Entertainment, and Legendary Pictures. That's part of the rationale behind AT&T's decision to shed satellite company DirecTV and spin off WarnerMedia into a merger with Discovery. "Firms like Comcast and AT&T already dismantled everything that they could," Blum said in January, referring to how the distributors snapped up media companies in the past.
Persons: NBCUniversal, Bill Simon, Korn Ferry, Sebastian Blum, Goldman Sachs, Blum, Reese Witherspoon's, Gwyneth Paltrow's Goop, Will, Westbrook, Michael Breit Organizations: WarnerMedia, Hollywood, . Media, MGM, Lionsgate, Sony Pictures Entertainment, Viacom, CBS, Disney, Insiders, AMC, Pictures, Comcast, OC, C, Companies, LionTree, Goldman Sachs Others, DirecTV, Discovery, Sunshine, HBO
"It's going to put pressure on everyone else," Craig Moffett, of the research company MoffettNathanson, said of the AT&T deal on Yahoo Finance Live. A deal would give Amazon more than 4,000 film titles and 17,000 television episodes to add to its streaming library. Along the way, some media companies once seen as major players — NBC and CBS among them — can no longer rely on their size. LightShed has aggressively advocated for media consolidation to compete with Netflix and Disney. And with more content, companies will operate with more user data, which Venkatesan said could mean better automated recommendations and targeted content creation.
Persons: It's, Oprah Winfrey, , Craig Moffett, James Bond, Peacock, Paul Hardart, Rajkumar Venkatesan, Venkatesan, LightShed, NBCUniversal, that's, Sen, Richard Blumenthal, Conn, Blumenthal, Martin Scorsese Organizations: HBO, CNN, TNT, Food Network, HGTV, Oprah, Oprah Winfrey Network, Travel Channel, Netflix, Disney, Yahoo Finance, MGM, Technology, Apple, Comcast, Paramount, NBC, New York University, University of Virginia, CBS, Media, LightShed Partners, The New York Times
IBM Tech Services Business Names CIO Ahead of Planned Spinoff
  + stars: | 2021-05-18 | by ( John Mccormick | ) www.wsj.com + 0.00   time to read: +3 min
In his new position, Mr. Bradshaw is expected to set Kyndryl’s information technology strategy and put together an IT team. At NBCUniversal, Mr. Bradshaw leads a team of about 1,500 IT professionals. Michael Bradshaw, Kyndryl's incoming CIO. Mr. Bradshaw sees his biggest challenge as helping to manage the spinoff. Newsletter Sign-up CIO Journal The Morning Download delivers daily insights and news on business technology from the CIO Journal team.
Persons: Michael Bradshaw, Mr, Bradshaw, Kyndryl, Martin Schroeter, , NBCUniversal, , Tim Crawford, AVOA, “ He’s, Crawford, Chirag Dekate, Lockheed Martin, Martin, Kathryn Guarini, Fletcher Previn, John McCormick Organizations: Business Machines Corp, NBCUniversal Media, Kyndryl IBM, IBM, Lockheed Martin Corp, Mission Systems, Chirag, Gartner Inc, Lockheed Locations: Los Angeles, john.mccormick
Discovery CEO David Zaslav has signed a new contract to stay on through 2027, sources told Axios. Zaslav will lead the joint venture between Discovery and AT&T's WarnerMedia, announced Monday. The deal between AT&T and Discovery could create a new streaming giant to rival Netflix and Disney. Discovery CEO David Zaslav has signed a new contract to remain head of the company through 2027, sources told Axios on Tuesday. The deal between AT&T and Discovery could give rise to a new streaming giant that's in direct competition with Netflix and Disney.
Persons: David Zaslav, Axios, Zaslav, WarnerMedia Organizations: Discovery, Netflix, Disney, HBO, TNT, CNN, Warner Bros, NBCUniversal
Revenue grew by nearly 3% to $138.31 billion. (CNBC) Home Depot beat first-quarter earnings and revenue expectations as consumers' splurging on their homes lingered more than a year into the pandemic. (CNBC)The Dow was set to rise nearly 100 points Tuesday, supported by gains in Walmart (WMT)and Home Depot (HD), two of the components in the 30-stock average . (CNBC Pro)The investor Michael Burry on Monday revealed in a regulatory filing a short position against Tesla worth more than half a billion dollars. Burry, whose firm is Scion Asset Management, shot to fame by betting against mortgage securities before the 2008 financial crisis.
Persons: Walmart's, Dow, Cramer, Warren Buffett's Berkshire Hathaway, Michael Burry, Burry, Michael Lewis, Henrik Fisker, bitcoin, Tesla's Elon Musk, Fisker, Phil Schiller, Siri, Schiller, Tim Cook, Joe Biden, Jill Biden, Joe Organizations: Walmart, CNBC, Tech, Metro, Goldwyn, Mayer Studios, The, Discovery, NBCUniversal, Kroger, KR, Verizon, Chevron, Scion Asset Management, Electric, Lamborghini, Apple, Epic Locations: Berkshire
Jeff Zucker seems likely to get a big role in a WarnerMedia-Discovery tieup, which David Zaslav is expected to run. "Zaslav will give Jeff Zucker new life," predicted Greg D'Alba, the former president of CNN News Networks, who has worked closely with Zucker. "I wouldn't be surprised if Jeff Zucker has rethought his future plans," Rogers said. "We love CNN," Zaslav said at the press conference. Zucker and reps for he and David Zaslav did not immediately respond for comment.
Persons: Jeff Zucker, David Zaslav, Zucker, David Zaslav —, Zaslav, Greg D'Alba, They're, Ali Zaslav, Zucker's, Tom Rogers, NBCUniversal, Jeff, Rogers, Larry Aidem, David, Tom, Brokaw, Jason Kilar Organizations: CNN, CNN News Networks, GE, NBC Universal TV Group, NBC Universal, Hamptons, Netflix, Disney, NBC Cable, Discovery, Service, Reverb Advisors, Sundance Channel, NBCUniversal, NBC News, CNBC, MSNBC, TVN, The New York Times Locations: WarnerMedia, Washington, Europe, Poland
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