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☆ Warner Bros. Discovery’s stock plummets to new low amid concerns the media giant could lose its NBA rights
▼ + stars: | 2024-05-01 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

Discovery doesn’t “have to have the NBA.” It appears Wall Street disagrees. TNT has built a programming slate around the NBA games, most notably the highly rated ”Inside the NBA” show. Losing the rights to NBA games could throw aspects of that business partnership into question. Since WBD first began trading on Wall Street in April 2022, the stock has lost roughly 70% of its value. And for Zaslav, whose company is struggling on Wall Street, the battle could not come at a more inopportune time.

Persons: New York CNN — David Zaslav, “, WBD, —, Joe Flint, Amol Sharma, Isabella Simonetti —, Charles Barkley, Andrew Marchand, Warner, That’s, NBCU’s, I’m, Zaslav, Gunnar Wiedenfels, Wiedenfels ’, Bob Iger, David Ellison’s, ” Organizations: New York CNN, Warner Bros, NBA, CNN, Industry, WBD, TNT, The Athletic, New York Post, NCAA, MLB, NHL, NASCAR, Disney, Fox Corporation, Netflix, Paramount Global, Wall Locations: New York

☆ These high beta stocks will lead the way if the year-end comeback continues
▼ + stars: | 2023-11-16 | by ( Hakyung Kim | ) www.cnbc.com time to read: +8 min

Essentially, if the broad market index rises by 1%, the following high beta stocks could jump by 1.5% or more. The company has a beta value of 1.7 and is scheduled to report earnings on Tuesday. Essentially, if the broad market index rises by 1%, the following high beta stocks could jump by 1.5% or more. Goldman Sachs recently recommended the pullback in Devon Energy shares as a buying opportunity, citing the company's strong balance sheet as a factor. The company has a beta value of 1.7 and is scheduled to report earnings on Tuesday.

Persons: Stocks, Goldman Sachs, Wells Fargo, Gunnar Wiedenfels, Bing Guan Organizations: CNBC Pro, Dow Jones, Nasdaq, CNBC, APA Corp, APA, Devon Energy, Marathon, Marathon Oil, Nvidia, UBS, Qs, Warner Bros Discovery, Angeles Refinery, Reuters, Beta, APA APA Corp, Entertainment, Devon Energy Corp, Oil Corp, Targa Resources Corp, MGM MGM Resorts, HAL Halliburton, McMoRan, Aptiv, WYNN Wynn Resorts, Body, Semiconductor Corp, NVIDIA Corp, Zebra Technologies, Albemarle, Alaska Air Group Locations: Angeles, Carson , California, Freeport

Killing an all-but-completed movie would alienate the people Zaslav — or at least Hollywood — needed most: the people who made the movies. Under fire, Zaslav defended the decision in an earnings call with analysts, saying he shelved “Batgirl” to protect the DC brand. More quietly, Zaslav also sought cover in the authority of Bryan Lourd, the powerful co-chairman of Creative Artists Agency and a leading arbiter of Hollywood mores. As Zaslav told it to several associates, Lourd had supported the decision, observing that it wasn’t in the interest of C.A.A. “We have made unpopular decisions because they were necessary.”Hollywood was in trouble before David Zaslav came to town.

Persons: Zaslav, Wiedenfels, Batgirl ”, Michael Keaton, ”, Adil El Arbi, Bilall Fallah, Walter Hamada, Courtenay Valenti, Bryan Lourd, Lourd, Leslie Grace, “ Bryan Lourd, ’ ”, David Zaslav, “ Organizations: DC Comics, Hollywood, DC, Warner Brothers, Creative Artists Agency, Discovery, McKinsey, W.B.D Locations: Scotland, New York, Hollywood, W.B.D

The company reported free cash flow of $2.06 billion, compared with $1.72 billion in the prior quarter. The company posted a net loss of $417 million, narrowing from a $2.3 billion net loss from a year-ago period. Advertising revenue at its networks segment declined 12% to $1.71 billion as global conflicts and inflation created an uncertain climate for marketers. The company's streaming unit posted an adjusted core profit of $111 million, compared with a loss of $634 million a year ago. Warner Bros Discovery had 95.1 million global direct-to-consumer customers at the end of the quarter, down from 95.8 million in the previous quarter.

Persons: Mario Anzuoni, Gunnar Wiedenfels, there's, Wiedenfels, David Zaslav, Michael Schulman, Barbie, Thomas Hayes, Samrhitha, Helen Coster, Saumyadeb Chakrabarty, Anil D'Silva, Mark Porter Organizations: Paramount Pictures Studios, REUTERS, Warner Bros Discovery, SAG, Running, HBO, Thomson Locations: Los Angeles , California, U.S, Bengaluru, New York

☆ Warner Bros. Discovery plunges 16% as CEO warns of 'generational disruption' to media
▼ + stars: | 2023-11-08 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Warner Bros. The media company reported a decline in ad revenue during the third quarter. AdvertisementAdvertisementShares of Warner Bros. Warner Bros. This was reflected in Warner Bros. results, with the company reporting that it saw a decline of 12% in ad spending among its TV networks.

Persons: David Zaslav, —, Zaslav, Gunnar Wiedenfels, Wiedenfels Organizations: Warner Bros, Service, Discovery, Wall, Bloomberg, WGA, SAG, HBO Max, Investors, Disney

☆ Warner Bros. Discovery stock sinks 15% as ad revenue falls, Zaslav warns of 'generational disruption'
▼ + stars: | 2023-11-08 | by ( Drew Richardson | ) www.cnbc.com time to read: +2 min

Discovery shares fell Wednesday after the company reported a decline in advertising revenue, a bigger-than-expected loss and lackluster streaming subscriber numbers. Discovery reported a net loss of $417 million for the third quarter, or 17 cents per share, an improvement from the $2.31 billion loss the company reported in the year-ago quarter, or 95 cents per share. Ad revenue in Warner Bros. The company reported 95.1 million global direct-to-consumer subscribers, a 700,000 decrease from the previous quarter, and less than the analyst projection of 95.4 million subscribers, according to StreetAccount. Discovery also made headway on paying off its debt load, with $2.4 billion of repayments made during the quarter, the company said.

Persons: David Zaslav, Max, Gunnar Wiedenfels Organizations: Warner Bros, Discovery, Roku, Paramount, Disney, Warner Bros . Discovery, HBO Max Locations: U.S

☆ ‘Barbie’ brought in $1.5 billion for Warner Bros. Discovery, but the company still lost money last quarter
▼ + stars: | 2023-11-08 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Blockbuster hit “Barbie” brought in a record $1.5 billion for Warner Bros. Discovery, but the company still reported a $417 million loss for the quarter that was bigger than Wall Street’s forecasts. The company, however, reported a narrow profit when taking into account adjustments for certain items, including interest, taxes, depreciation and amortization. Discovery, the parent company of CNN, needed the revenue boost from “Barbie” to achieve a narrow 2% increase in sales. The company reported that adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased 22% to just under $3 billion.

Persons: Barbie ”, Gunnar Wiedenfels, David Zaslav, ”, “, “ Barbie, WBD, EBITDA Organizations: New, New York CNN, Blockbuster, Warner Bros, CNN, Writers Guild of America, SAG, Netflix, Apple Locations: New York

☆ It's not just you. It seems like practically every streaming service got more expensive in the last year.
▼ + stars: | 2023-10-27 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Apple is raising the price of a subscription to its streaming platform Apple TV+. Apple is raising the price of a monthly subscription to its streaming platform Apple TV+, the home of "Ted Lasso" and "The Morning Show. It's not the only streaming platform that's upping its subscription price. Hulu's ad-free tier went from $14.99 per month to $17.99, and a monthly subscription to Disney+'s ad-free tier increased from $10.99 to $13.99. Before HBO Max and Discovery+ merged to become Max in May, HBO Max raised its ad-free subscription price one dollar to $15.99.

Persons: —, Ted Lasso, Apple, Mac, It's, Bob Iger, Iger, Matt Turner, Gunnar Wiedenfels, Max, HBO Max Organizations: Apple, Netflix, Service, Disney, Hulu, Street Journal, Warner Bros, Discovery, HBO Max, HBO

☆ Amazon Prime will now have ads — unless you fork over an extra $2.99 a month
▼ + stars: | 2023-09-22 | by ( Will Gendron | ) www.businessinsider.com time to read: +3 min

Amazon announced that ads will be introduced to Prime Video in early 2024. Of course, with the introduction of ads, comes the introduction of a new ad-free subscription — Prime Video users can opt to pay $2.99 more per month for an ad-free membership, the company said in a statement. Currently a standalone Prime Video subscription costs $8.99 per month. Both Peacock and and Paramount+ raised their ad-free subscription prices by $2, from $9.99 to $11.99, this past July. Of course, as Insider's Nathan McAlone puts it — the end of cheap streaming is not here yet, but rather the end of cheap, ad-free streaming.

Persons: Amazon, Gunnar Wiedenfels, Mark Schilsky, Max, Peacock, Insider's Nathan McAlone Organizations: Amazon, Service, Warner Bros, Paramount, Bernstein Research, Disney, Hulu, Netflix, Apple Locations: Wall, Silicon, UK, Germany, Canada, France, Italy, Spain, Mexico, Australia

☆ You haven't been paying a fair price for your streaming services. Warner Bros. Discovery CFO says: 'I think that's in the process of being corrected'
▼ + stars: | 2023-09-19 | by ( Will Gendron | ) www.businessinsider.com time to read: +4 min

A change may be coming to your streaming services, Warner Bros. The services have been undervalued, Gunnar Wiedenfels said, and "quality content has been given away"That could spell price hikes. AdvertisementAdvertisementAs Insider's Matt Turner summed up: "Streaming services have been underpriced in the name of attracting critical mass." In January, Warner Bros Discovery increased the price of an ad-free subscription to HBO Max for the first time since its launch in 2020. Aside from boosting prices, services are also cracking down on password sharing.

Persons: Gunnar Wiedenfels, Wiedenfels, Max —, Matt Turner, Comcast's Peacock, Max, Peacock, Mark Schilsky, HBO Max, we're, Bob Iger, Schilsky Organizations: Warner Bros, Discovery, Service, Bank of America Securities Media, Communications, Entertainment Conference, Netflix, Hulu, Disney, Paramount, Apple, Bernstein Research, Warner Bros Discovery, HBO, HBO Max, Wall Street Journal Locations: Wall, Silicon, Hollywood

☆ Warner Bros Discovery expects earnings hit of up to $500 million as strikes drag on
▼ + stars: | 2023-09-05 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

Warner Bros. Warner Bros. Warner Bros. Warner Bros. Discovery has been paying down the hefty debt load that stems from the 2022 merger of Warner Bros. and Discovery.

Persons: David Zaslav, Gunnar Wiedenfels, Goldman Sachs Organizations: Warner Bros, Discovery, Writers Guild of America, Technology

The exterior of the Warner Bros. REUTERS/Alyssa Pointer/File photoAug 3 (Reuters) - Warner Bros Discovery (WBD.O) warned Thursday that the dual Hollywood strikes by writers and actors could hit its flagging studio business already bruised by high-profile box office flops including "The Flash." The shutdowns "may have implications for the timing and performance of the remainder of the film slate as well as our ability to produce and deliver content," Warner Bros Discovery CFO Gunnar Wiedenfels said. Total global subscribers for its HBO, Max and Discovery+ services stood at 95.8 million at the end of the quarter. Under CEO David Zaslav, Warner Bros Discovery has been seeking to run its direct-to-consumer business more efficiently.

Persons: Alyssa Pointer, Gunnar Wiedenfels, Jamie Lumley, David Zaslav, Zaslav, Samrhitha, Helen Coster, Mark Porter, Jonathan Oatis, Shounak Organizations: Warner Bros . Discovery, Writers Guild of America, Alliance of Motion Pictures, Television Producers, REUTERS, Warner Bros Discovery, Hasbro, Warner Bros, Discovery Inc, Total, HBO, Max, Thomson Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S, Bengaluru, New York

☆ Warner Bros. Discovery trims costs, losses, but misses forecasts
▼ + stars: | 2023-08-03 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

Discovery reported a larger-than-forecast loss in the second quarter, but the loss was narrower than a year ago. The smaller loss came as the company cut costs by $2.2 billion, or 16% compared to a year ago. The results did not include the strong box office from the movie “Barbie,” which was released in the third quarter. The company’s closely watched streaming business reported a narrow $3 million loss on an adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) basis. The company launched its Max streaming service, rebranding what had been HBO Max and rolling in content from Discovery+.

Persons: Refinitiv, Barbie, ”, David Zaslav, Zaslav, “ Barbie ”, tentpole, “, It’s, Gunnar Wiedenfels, AFTRA, Wiedenfels, “ I’ve Organizations: New, New York CNN, Warner Bros, Discovery, CNN, HBO, Writers Guild of America, SAG, Warner Bros . Locations: New York, Europe

☆ We identified the 112 top executives at Warner Bros. Discovery under CEO David Zaslav as the year-old company takes aim at Netflix and Disney
▼ + stars: | 2023-05-15 | by ( Claire Atkinson | Lucia Moses | Taylor Tyson | ) www.businessinsider.com time to read: +2 min

Warner Bros. One year after Discovery acquired WarnerMedia, WBD CEO David Zaslav faces economic headwinds and an ad slump. Insider mapped out the 112 most powerful people under Zaslav leading WBD film and TV studios, HBO, CNN, and more. One year after the merger that created Warner Bros. While Kathleen Finch has joined the mix with her portfolio of Discovery channels, top TV execs from the WarnerMedia regime — HBO's Casey Bloys and Warner Bros. TV studios chief Channing Dungey — are still in place.

☆ We mapped out the 113 most powerful people at Warner Bros. Discovery after a blockbuster merger and a tumultuous year of layoffs and cuts under CEO David Zaslav
▼ + stars: | 2023-04-20 | by ( Claire Atkinson | Lucia Moses | Taylor Tyson | ) www.businessinsider.com time to read: +2 min

Warner Bros. CEO David Zaslav is focused on rebuilding but faces economic headwinds and an advertising slump. Insider mapped out the 112 most powerful people under Zaslav leading WBD film and TV studios, HBO, CNN, and more. One year after the merger that created Warner Bros. While Kathleen Finch has joined the mix with her portfolio of Discovery channels, top TV execs from the WarnerMedia regime — HBO's Casey Bloys and Warner Bros. TV studios chief Channing Dungey — are still in place.

Feb 24 (Reuters) - Warner Bros Discovery's (WBD.O) shares fell on Friday as Wall Street sees more pain for the media giant that posted more than $2 billion in fourth-quarter losses and cut annual profit forecast as ad market weakness persists. The uncertainty of an ad market recovery in the current market condition, with a potential recession looming, is hounding large media and tech firms such as Paramount Global (PARA.O) and Google-parent Alphabet Inc (GOOGL.O) alike. "The biggest unknown continues to be in the ad sales environment," Gunnar Wiedenfels, chief financial officer of Warner Bros Discovery said. This implies a range of $11 billion to $11.5 billion, below its previous target of $12 billion. The company reported a wider-than-expected loss of 86 cents per share in the quarter due to restructuring charges related to its merger joining Discovery Inc and AT&T (T.N) spin-off Warner Media.

☆ Warner Bros Discovery revenue misses as media giant posts big loss
▼ + stars: | 2023-02-23 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Pedestrians walk past a street commercial advertisement billboard from Warner Bros and DC comics character, The Batman, movie in Madrid. Warner Bros. Warner Bros. Warner Bros. Warner Bros.

☆ Warner Bros Discovery CEO David Zaslav faces complex challenges as a combined HBO Max-Discovery streamer preps to launch this spring and staffers fear more layoffs and cuts
▼ + stars: | 2023-02-22 | by ( Lucia Moses | Claire Atkinson | ) www.businessinsider.com time to read: +8 min

CEO David Zaslav is expected to provide an update of the company's financials and outlook for the year ahead. WBD also shed more than half its stock price since the merger deal closed April 8, before a more recent partial recovery. But optimism around the company seems to be based on the feeling that things can only go up from here. Discovery to $20 from $16, assuming the heaviest cost cutting is done and despite the fact that the near-term ad outlook is poor. Legacy Warner ad salespeople in particular are frustrated over this approach and worried it'll cost them in the form of a smaller annual bonus than they've come to expect in years past.

Discovery CEO David Zaslav has assembled a Discovery-heavy leadership team to transform the company. Here are the 20 corporate, creative, and business execs charged with helping him pull it off. Discovery merger, CEO David Zaslav faces massive challenges as he tries to pump out cash to pay down debt while slashing billions in costs. Many of the corporate and business leaders Zaslav has assembled are Discovery execs he's worked with closely for years and who were given bigger roles after the merger. These 20 execs, listed alphabetically, are the power players Zaslav has put in place to help him get there.

☆ HBO Max raises price for ad-free service for the first time since it launched
▼ + stars: | 2023-01-12 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

'House of the Dragon' series logo displayed on a phone screen and HBO Max website are seen in this illustration photo taken on August 16, 2022. Warner Bros. Discovery is raising the monthly price of HBO Max by $1 as the company looks to further invest in content and the user experience. The company said Thursday the HBO Max ad-free tier's price would increase to $15.99 a month from $14.99, the first price increase for HBO Max since it launched in May 2020. Discovery spring 2023 launch of its combined HBO Max and Discovery+ streaming service.

☆ Warren Buffett just bet big on Paramount to win the ad streaming wars — here's what makes its business unique compared to competitors like HBO Max, Disney, and Netflix
▼ + stars: | 2022-11-15 | by ( Elizabeth Pham Janowski | Ryan Joe | ) www.businessinsider.com time to read: +6 min

The maturation of ad-supported streaming services over the last year have become clearer. Discovery, and Netflix, which are charging high rates for streaming ads against so-called premium content. If these companies hope to attract premium CPMs however, they need to get them now. "The only reason, in my opinion, that they can control premium CPMs today is that they're just starting at this," Martin said. She believes the market will force services charging "premium" CPMs to lower these prices over time.

☆ Warner Bros Discovery reports underwhelming revenue, says new streaming service coming earlier
▼ + stars: | 2022-11-03 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Discovery reported its third-quarter earnings on Thursday, missing analyst expectations, as it felt the effects of a tough advertising environment and costs associated with its post-merger restructuring. CEO David Zaslav also announced that the merged version of the company's HBO Max and Discovery+ streaming services will be coming in the spring, earlier than the previously announced summer release date. Here's what the company reported compared with analysts' expectations, according to Refinitiv:Revenue: $9.82 billion vs. $10.36 billion expectedThe company reported a loss per share of 95 cents, citing macroeconomic headwinds, particularly in advertising. Discovery is the result of a merger between AT&T's WarnerMedia and Discovery, which was completed earlier this year. Industry peer Paramount Global reported earnings on Wednesday, also missing analyst estimates as its TV and advertising revenue fell.

☆ Top media recruiters and Hollywood insiders reveal the entertainment jobs in demand now and which companies are hiring in an 'awful' job market
▼ + stars: | 2022-10-17 | by ( Elaine Low | ) www.businessinsider.com time to read: +4 min

The typical fall "hiring boom" in the entertainment industry, especially at the big streamers, is quieter this year. Recruiters and job seekers said the job market is slow, though data and analytics pros are still in demand. Autumn is typically ripe for hiring in Hollywood. "The streamers are always in a hiring boom this time of year but you're not seeing that anymore." Data and tech jobs are still hot, said Sucherman, calling it a sector of the entertainment industry "that is expanding, not contracting."

Gabby Jones | Bloomberg | Getty ImagesBenefits of bundlingFor consumers that buy many streaming services already, purchasing a bundle of them for a discount would be an instant money saver. For corporations, pushing together streaming services reduces the number of people who cancel each month, known in the industry as churn. But those companies also offer their own competing streaming services – The Roku Channel, Prime Video and Apple TV+, respectively – which could deter broader partnerships. Wireless companies already offer promotional pricing to streaming services as sign-up bonuses. From the standpoint of niche services, Peacock hasn't come to them with a coherent strategy, according to several people familiar with the talks.

☆ Hollywood streamers' typical fall 'hiring boom' is much quieter this year. Here's where the jobs are now and when hiring will pick up again.
▼ + stars: | 2022-09-23 | by ( Elaine Low | ) www.businessinsider.com time to read: +4 min

Fall is usually a busy time for hiring in the entertainment industry, especially at the big streamers. Here's why there's a slump and when hiring is likely to pick up again. "The streamers are always in a hiring boom this time of year but you're not seeing that anymore." "Fall is usually busy — you can usually mark the seasons," said entertainment headhunter and former E! Data and tech jobs are still hot, said Sucherman, calling it a sector of the entertainment industry "that is expanding, not contracting."

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