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☆ CNBC Sport: Adam Silver speaks exclusively, and TKO makes a big bet
  + stars: | 2024-10-24 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com   time to read: +21 min
☆ Jeff Shell is about to lead Paramount. He may have runway to make bold changes he couldn't at NBC
  + stars: | 2024-10-11 | by ( Alex Sherman Lillian Rizzo | Alex Sherman | In Alex-Sherman | ) www.cnbc.com   time to read: +15 min
Comcast CEO Brian Roberts chose Shell to replace Steve Burke as NBCUniversal CEO in 2019. Soon, Shell, 59, will be at the helm of Paramount and paired with Ellison, who has already expressed his desire to transition Paramount into a more modern media company. The 10 p.m. hourAt Paramount, Shell will be given an asset mix similar to what he oversaw at NBCUniversal — save the theme parks. Wolf's shows were also significant moneymakers for NBCUniversal, according to a person familiar with the matter. Some media analysts, such as LightShed Partners' Rich Greenfield, have argued Paramount Global should shut down Paramount+ and instead license Paramount content to other streamers with more scale.
Persons: Jeff Shell, Eric Gaillard, NBCUniversal, David Ellison, Ellison, Comcast's NBCUniversal, Shell, Brian Roberts, Steve Burke, RedBird, Andrew Brandon, Gordon, Shell's, —, Skydance, NBC —, CNBC's David Faber, George Cheeks, Hollywood creatives, Dick Wolf, Kevin Dietsch, Stephen Colbert, it's, we've, Pluto, Rich Greenfield, Shell's playbook, We've, Peacock, Roberts, Andrew Wilson, Brian L, Eric Charbonneau, Wall, Mark Hoffman, Shepard Smith, Hoffman Organizations: NBCUniversal, Cannes Lions International, Creativity, Reuters, Paramount Global, Skydance Media, Shell, CNBC, Paramount, Fox, Comcast, NBCU International, Universal, Entertainment Group, RedBird Capital Partners, NFL, CBS, Paramount Pictures, NBC, Local, Journal, FBI, Hollywood, TV, Allen & Company Sun Valley, Getty, LightShed Partners, Warner Bros ., Viacom, WarnerMedia, Netflix, EA, Entertainment, Comcast Corporation, Universal Pictures, Invision, Bravo, MSNBC, MTV, VH1, Comedy Central, Fox News, NBC Sports, NBA, CBS Sports, Big Ten, UEFA Champions League Locations: Cannes, France, Shell, NBCUniversal, Sun Valley , Idaho, Toronto
☆ Issa Rae Reveals Skills That Made Her Profitable, Red Flag in Business
  + stars: | 2024-10-06 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com   time to read: +9 min
"Insecure"/HBO"I'm a coffee shop girl," the LA native told Business Insider in September during New York Fashion Week. I'm braving myself for the day," Rae continued. "A red flag is just the sensitivity; you can always tell when people aren't being honest with you." Advertisement"The first day will always be spent procrastinating or finding things wrong and reasons I can't start, and I need to allow for that day," Rae added. "So, I recognize the perfect amount of time is three days, and by that third day, I'm off."
Persons: Issa Rae's, Issa Dee, It's, millennials, Rae, Justin Bieber, Chloe, Halle, Issa Rae, Rae friended, Barbie, Max, Gallo, Hannah Diop, I'm, I've, Deniese, that's, Deniese Davis, Davis, Rae's, She's, Talitha Watkins, she's, Z, it's Organizations: LA, Business, New York, YouTube, Facebook, Atlanta Records, WarnerMedia, Sienna Naturals Locations: Inglewood, Los Angeles, The, SoHo, New, Hilltop, California, San Francisco, LA, Miami
☆ Jon Steinlauf, WBD's Top Ad Salesman, to Leave. Read the Memo.
  + stars: | 2024-10-04 | by ( Lucia Moses | ) www.businessinsider.com   time to read: +3 min
Discovery's top ad salesman, will leave at the year's end. Steinlauf's departure follows his role in merging ad sales units after the Discovery-WarnerMedia deal. Discovery's top ad salesman, will leave the media company at the end of the year, according to an internal memo from Bruce Campbell, WBD's chief revenue and strategy officer, that was shared with Business Insider. AdvertisementSteinlauf led Discovery's ad sales business starting in 2018 under Zaslav pre-merger, having joined Discovery through its acquisition of Scripps Networks. Read the memo about Steinlauf's departure from the company below:
Persons: Jon Steinlauf, —, Bruce Campbell, Turner, WBD, Comcast's NBCU, Marybeth Strobel, Ryan Gould, David Zaslav, Steinlauf Organizations: Warner Bros, Discovery, NBA, Service, Business, CNN, HBO, Disney, Paramount, Turner Sports, Zaslav, Scripps Networks
☆ Tuesday's analyst calls: Warner Bros. Discovery gets a downgrade, cybersecurity stock a buy ahead of earnings
  + stars: | 2024-08-13 | by ( Alex Harring Fred Imbert | Alex Harring | Fred Imbert | ) www.cnbc.com   time to read: +11 min
Meanwhile, Mizuho raised its price target on Palo Alto Networks ahead of the company's upcoming earnings release. But Grambling shaved $4 off his price target to $47, though that still implies 57.5% upside from Monday's close. Long kept his price target unchanged at $97, which reflects just 1.8% in upside over Monday's closing price. Analyst Laurent Yoon downgraded the media stock to market perform from outperform and shaved $2 off his price target to $8. Analyst Gregg Moskowitz raised his price target on the cybersecurity stock to $380 from $350, maintaining his outperform rating.
Persons: Bernstein, Mizuho, Rollins, Wells Fargo, Jason Haas, Haas, — Alex Harring, Thomas Palmer, Palmer, Morgan Stanley, DraftKings, Stephen Grambling, Grambling, Alex Harring, Tim Long, Long, Dell, Damian Karas, Karas, " Karas, Warner, Laurent Yoon, Yoon, Discovery's Turner, Gregg Moskowitz, Moskowitz, Fred Imbert Organizations: CNBC, Warner Bros, Palo Alto Networks, Hormel Foods, Citi, Hormel, Planters, Grambling, DraftKings, Barclays, Dell, Nasdaq, UBS, Discovery, NBA, Discovery's Turner Sports, Mizuho Locations: Wells Fargo, Monday's, Southern, Grambling, Palo Alto
☆ Here are Tuesday's biggest analyst calls: Netflix, Amazon, Lyft, CrowdStrike, Dell, Disney, Hormel, Eli Lilly, Home Depot & more
  + stars: | 2024-08-13 | by ( Michael Bloom | ) www.cnbc.com   time to read: +5 min
Here are the biggest calls on Wall Street on Tuesday: Wells Fargo initiates Rollins as overweight Wells says it's bullish on shares of the pest control company. Goldman Sachs reiterates Disney as buy Goldman said it's sticking with its buy rating following Disney's biennial D23 fan event in California. " Wells Fargo initiates ITeos Therapeutics at overweight Wells said in its initiation of coverage into ITeos that the biotech company has multiple catalysts ahead. Bank of America reiterates Lyft as buy The bank said the ride sharing company is trading at a "significant discount." Wells Fargo reiterates Home Depot as overweight Wells says investors should buy the dip in Home Depot shares following earnings Tuesday morning.
Persons: Wells, Rollins, it's bullish, Goldman Sachs, Goldman, Bernstein, WBD, BTIG, Eli Lilly, Stifel, Lyft Organizations: Wells Fargo, Disney, UBS, JPMorgan, Netflix, Mizuho, Palo Alto, Barclays, Dell, DELL, Citi, Sales, Warner Brothers Discovery, ITeos, " Bank of America, Bank of America, Co, McCormick &, Depot, Amazon Locations: California, Turkey
☆ Read the pitch deck an AI startup tackling time-consuming tasks in Hollywood used to raise new funds
  + stars: | 2024-08-08 | by ( Lucia Moses | ) www.businessinsider.com   time to read: +3 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewFilmustage, which uses AI to analyze scripts and do other pre-production tasks, raised $1.5 million in seed funding led by Raw Ventures, a London-based venture capital firm. It also performs other tasks like creating shooting schedules and analyzing scenes for risk elements like sex and weapons. AI tools have found applications in Hollywood, which is known for its lengthy and costly process of making TV shows and movies. Here's the pitch deck Filmustage used to raise its newest funding round:
Persons: —, Filmustage, There's, Roger Christian, Byron Saltysiak, Callan Green, Guy Ritchie's, Egor Dubrovsky, Dubrovsky, it's, Filmustage's Organizations: Service, Raw Ventures, Business, Guy Ritchie's Netflix, Universal Pictures, Investors, Netflix, Amazon Prime, Hollywood Locations: London, Hollywood
☆ Pressure mounting on Warner Bros. Discovery CEO David Zaslav to deliver value for shareholders
  + stars: | 2024-08-08 | by ( Alex Sherman | ) www.cnbc.com   time to read: +3 min
Discovery CEO David Zaslav needs a win. Since merging Discovery with WarnerMedia in 2022 and immediately slashing billions in costs, Zaslav has struggled to convince shareholders that his company is a worthy investment. Warner Bros. Discovery shares have fallen about 70% since April 8, 2022, the day the merger closed. Making matters worse for him, Zaslav has long been one of the highest paid CEOs in the country.
Persons: David Zaslav, Zaslav, Chris Licht, John Malone, That's, WarnerMedia, Robert Fishman Organizations: Warner Bros, Discovery, CNN, Boston, NBA, Warner Bros . Discovery Locations: U.S
☆ Warner Bros. Discovery is counting on deregulation to unlock media deals — if there's even appetite
  + stars: | 2024-07-26 | by ( Alex Sherman | ) www.cnbc.com   time to read: +10 min
If you ask Zaslav, though, the reason Roberts and other potential buyers of media assets aren't interested is because the government has scared them away. Or, perhaps, legacy media companies are simply undesirable assets to own. He extended the life of his previous company, Discovery Communications — and probably his own tenure running a media company — by merging it with AT&T's WarnerMedia in 2022. Without a deal, Discovery would have wallowed as a subscale content provider and owner of declining cable networks. Discovery with another legacy media company, such as Paramount Global , Fox or Disney , or NBCUniversal, if it were spun off from Comcast.
Persons: David Zaslav, David Grogan, Brian Roberts, " Roberts, Comcast's, Roberts, Zaslav, Shari Redstone, Rob Kindler, Paul, Weiss, they've, Kindler, haven't, Morgan Stanley's, Donald Trump's, There's, Joe Biden's, Simon, Simon & Schuster, JD Vance, Lina Khan's, Lina Khan, Biden, Vance, Kamala Harris Organizations: Allen & Company Sun Valley Conference, CNBC Comcast, Warner Bros, Discovery, Allen & Co, Sun, Paramount, Skydance Media, CNBC Redstone, Starz, AMC Networks, Vice Media, Discovery Communications, NBA, Apple, Paramount Global, Fox, Disney, Comcast, CNBC, Google, Scripps Networks Interactive, Time Warner, Scripps, Viacom, CBS, Sky, AMC, IFC, Sundance, Lionsgate, Media, Republican, Democratic, Donald Trump's Department of Justice, Simon &, Random, MGM, Federal Trade, & $ Locations: Sun Valley , Idaho, RemedyFest
☆ President Biden's reelection campaign is on its last legs as Democrats' fears extend beyond losing just the White House
  + stars: | 2024-07-19 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
In today's big story, President Biden's comeback plan isn't working , and Democratic leaders are ready to move on . President Joe Biden's reelection campaign appears to be on its last legs as calls within his party have grown from whispers to shouts since his disastrous debate last month. AdvertisementBut perhaps the biggest blow to Biden's reelection campaign came with the news that his former running mate has doubts. But for some Democrats, the risk of Biden continuing his reelection campaign could extend from the White House to Capitol Hill. Still, despite mounting pressure, Biden's campaign has remained steadfast about his reelection bid.
Persons: —, Biden's, Mario Tama, Tyler Le, Joe Biden's, it's, Insider's Brent D, Griffiths, Sen, Bernie Sanders, Biden, doesn't, That's, BI's Bryan Metzger, Chuck Schumer, Hakeem Jeffries, Nancy Pelosi, Sarah Gray, Kelsey Vlamis, Barack Obama, Kent Nishimura, don't, Schumer, Jeffries, Adam Schiff, Quentin Fulks, Cros, Steve Schwarzman, it'll, Michael M, Jensen, Goldman Sachs, Peter Naylor, Amy Reinhard, Jamie Dimon's, cushy, Ernst & Young, Joe Biden, Kamala Harris, It's, Harris, Harvey Weinstein, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, American Airlines, United Airlines, Democratic, Business, Getty, Trump, Biden, Capitol, Case, Senate, Wall, Google, Bank of America, Blackstone, Nvidia, Netflix, EV, Mercedes, Benz, Warner Bros Discovery, Warner Bros, Discovery, WarnerMedia, Investors, JPMorgan, McKinsey, Ernst, American Express, Convention Locations: Crowdstrike, Biden's, AFP, New York, London
☆ Warner Bros Discovery (basically) admits its merger didn't work
  + stars: | 2024-07-18 | by ( Peter Kafka | ) www.businessinsider.com   time to read: +5 min
That's basically the pitch the management of Warner Bros. Discovery is floating to investors today, via a story in the Financial Times: "A dramatic plan to split its digital streaming and studio businesses from its legacy television networks." And would the money from those declining networks be enough to service all that debt? Apple, most notably, inquired about buying HBO way back when its parent company was called Time Warner. If WBD can't split the company the way it's supposedly proposing now, it will end up selling off assets (maybe CNN?
Persons: That's, WBD, I've, hasn't, Pimple Popper, HBO hasn't, Jessica Reif Ehrlich, Rich Greenfield, you'll, it's, Time Warner, David Zaslav —, Donald Trump, he's, Zaslav Organizations: Service, Warner Bros, Financial, Business, HBO, Max, CNN, Netflix, Big Tech, Apple, Time, Sun, Paramount
☆ Disney Has a Problem: Kids Are Watching YouTube Instead of Disney+
  + stars: | 2024-07-15 | by ( Lucia Moses | ) www.businessinsider.com   time to read: +12 min
Kids increasingly prefer to zone out for hours watching free short-form videos instead of full-length TV episodes and movies. In April, Nielsen estimated, kids 2 to 11 watched three times as much YouTube as Disney+ content. Kids watching Disney clips on YouTube may have no need for Disney+. 5 spot for kids' entertainment on YouTube in 2023, according to Tubular, a social video analytics company. Kids preferring short-form videos on YouTube over full-length episodes and movies is a problem that Disney doesn't seem to be able to solve.
Persons: Bob Iger, Bob Chapek's, Iger, Taylor Swift, Nelson Peltz, Disney, Alexia Raven, it's, Gen Alpha, —, Liz Huszarik, Nick Macknight, King, Aladdin, Justin Timberlake, Zendaya, Ariel, Bernstein, Discovery's Max, Florida's Gov, Ron DeSantis, Macknight, Lucia Moses Organizations: Disney, Epic Games, Investors, Disney Channel, Nielsen, YouTube, Warner Bros, Discovery, Media, Comcast, Paramount, Google, Netflix, Moonbug Entertainment, Disney's, Hulu, Marvel, Lucasfilm, Florida's, Pixar, Dallas, Business Locations: WarnerMedia, Dallas
☆ Ellen DeGeneres said she's 'done' with fame after her upcoming Netflix special. Here's a complete timeline of the backlash she's faced since 2020.
  + stars: | 2024-07-12 | by ( Olivia Singh | ) www.businessinsider.com   time to read: +32 min
Read previewThe talk show host Ellen DeGeneres has long been considered a beloved celebrity for her friendly and funny public demeanor. "Maybe I'm being naive, but I expected them to welcome me with confetti: Welcome to 'The Ellen DeGeneres Show'!" Next thing we know, we literally hear Steve Jobs pick up and say, 'Hi, Ellen' … Ellen told him the iPhone should have a bigger font," the producer said. I have been getting calls asking me about the Ellen Degeneres Show and I would like to address the time I spent there. AdvertisementPaytas appeared on "The Ellen DeGeneres Show" in 2010 when she was 22 years old to showcase her speed-reading talent during an audience talent segment.
Persons: —, Ellen DeGeneres, Nikkie de Jager, DeGeneres, NikkieTutorials, vlogger, de Jager, hadn't, van, Sebastian Williams, van Nieuwkerk, YouTuber, De Jager, Pop Crave, Ellen, Jonas, Kevin T, Porter crowdsourced, you've, Portia de Rossi, wouldn't, didn't, X weren't, I've, Kevin Winter, Stagehands, Jimmy Kimmel, John Oliver, Samantha Bee, Ellen DeGeneres's, Jordan Strauss, Tom Majercak, Majercak, de Rossi, Steve Granitz, Steve Jobs, Jobs, Jane Lynch's, Katy Perry, Chris Pizzello, Ellen Show, Neil Breen, Breen, Richard Wilkins, she'll, Richard, you'll, Neil, She'll, I'd, I'm, Raymond, Brad Garrett, Garrett, Lea Thompson, Scooter Braun, Kevin Mazur, Braun, Justin Bieber, Ariana Grande, Andy Lassner, James Corden, Corden, Hedda Muskat, Joshua Blanchard, Patrick McMullan, Ed Glavin, Mary Connelly, Muskat, Glavin, Ed, Tony Okungbowa, Okungbowa, Ellen Degeneres, Tony okungbowa, Dakota Johnson, Johnson's, Johnson, that's, Craig, Trisha Paytas, Christopher Polk, YouTuber Trisha Paytas, H3H3, Ethan Klein, Paytas, Ashton Kutcher, Kutcher, De Rossi, Ryan Phillippe, haven't, Jim Spellman, WireImage, Thompson, Phillippe, Jennifer Aniston, Billie Eilish, Greyson Chance, Gaga's, Chance, Stone, she'd, Rolling Stone, would've, It's, Tasos Katopodis, SFGate, Libby Torres Organizations: Service, Business, C Magazine, YouTube, Los Angeles Regional Food Bank, Variety, Warner Bros, Television, ABC, Fox News, New York Post, New York, Producers, AP, BuzzFeed, The Hollywood, British, Twitter, Sun, NBC, Getty, CDC, Centers, Disease Control, West Hollywood, Netflix Locations: Dutch, California, Australian, Melbourne, Dakota, West
☆ CNN chief Mark Thompson announces sweeping overhaul of news network, cuts 100 jobs
  + stars: | 2024-07-10 | by ( Oliver Darcy | ) edition.cnn.com   time to read: +7 min
CNN —Mark Thompson, the CNN chief executive appointed last year to modernize the news network, unveiled a set of sweeping changes to the iconic outlet Wednesday, announcing plans to build a billion-dollar digital business, experiment with artificial intelligence and overhaul key newsroom structures. Mark Thompson officially started on October 9 as CNN's chief executive and chairman and will also act as the network's editor-in-chief. Thompson, who is widely credited for revitalizing The Times, was appointed CNN chief executive last summer, after Licht’s tumultuous run in the job. Since then, Thompson has spoken consistently about the need to transform CNN’s business but has largely avoided offering specifics. Whether Thompson can successfully create a billion-dollar digital news business at CNN remains to be seen.
Persons: Mark Thompson, Thompson, ”, Art Streiber, ” Thompson, “, CNN Max, Max, Ted Turner, CNN’s, Charlie Moore, “ Anderson Cooper, Jeff Zucker, Chris Licht, Zucker, Licht Organizations: CNN, Netflix, Warner Bros, Discovery, Inc, Warner Bros ., The New York Times, The Times Locations: CNN’s Hong Kong, London, Los Angeles
☆ Warner Bros.' boss made bank last year, despite the Hollywood strikes
  + stars: | 2024-04-19 | by ( Grace Eliza Goodwin | ) www.businessinsider.com   time to read: +2 min
Warner Bros. Zaslav's compensation increased despite actors' and writers' strikes, topping his 2022 earnings. Warner Bros. reported losses for the year despite Zaslav's increased compensation. The CEO of Warner Bros. Related storiesDespite both the actors' and writers' strikes that lasted nearly 4 and 5 months respectively, Zaslav's pay for the year went up.
Persons: David Zaslav, — Organizations: Warner Bros, Discovery Inc, Service, WarnerMedia, Street Journal
☆ Today's the day Warner Bros. Discovery can sell itself. Buyers may be hard to find.
  + stars: | 2024-04-08 | by ( Peter Kafka | ) www.businessinsider.com   time to read: +1 min
Monday is an important day for Warner Bros. Discovery: It can now sell itself without a tax penalty. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But if you're a media investor, banker, or someone who thinks like them, there's a different significance: It's the End of Warner Bros. Let's put that in English: Monday is the second anniversary of the deal that combined Discovery Networks with WarnerMedia, the conglomerate that includes HBO and CNN and was previously owned by AT&T.
Persons: —, there's, Let's Organizations: Warner Bros, Service, Discovery Networks, WarnerMedia, HBO, CNN, AT
☆ Two Warner Bros. Discovery directors resign after antitrust probe
  + stars: | 2024-04-01 | by ( Laya Neelakandan | ) www.cnbc.com   time to read: +1 min
The exterior of the Warner Bros. Two Warner Bros. Discovery directors, Steven Miron and Steven Newhouse, are resigning following a U.S. Department of Justice investigation into a potential antitrust violation, according to a company release Monday. Both of their terms on the Warner Bros. board were set to expire in 2025. Rather than contesting the DOJ matter, the company said both Miron and Newhouse voluntarily elected to resign from their positions, effective immediately.
Persons: Steven Miron, Steven Newhouse, Miron, Newhouse, Rather Organizations: Warner Bros . Discovery, Writers Guild of America, Alliance of Motion Pictures, Television Producers, Warner Bros, Discovery, U.S . Department of Justice, Clayton Antitrust, Advance, Newhouse, DOJ Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, Clayton
☆ A former 'Real Housewives' star with alcoholism is suing Bravo and Andy Cohen, accusing them of making her relapse for ratings
  + stars: | 2024-02-28 | by ( Joshua Zitser | ) www.businessinsider.com   time to read: +5 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewLeah McSweeney, known for appearances on Seasons 12 and 13 of "The Real Housewives of New York City," is suing Bravo, executive producer Andy Cohen, and others, accusing them of encouraging her to relapse for ratings. AdvertisementMcSweeney, who also appeared on the spin-off show "The Real Housewives Ultimate Girls Trip," was candid with viewers and producers about her sobriety journey. According to the lawsuit, McSweeney had been sober for around nine years until a brief relapse about five months before joining the show. However, according to the complaint, producers discriminated against her by intentionally planning scenarios intended to exacerbate her disabilities.
Persons: —, Leah McSweeney, Bravo, Andy Cohen, McSweeney, Cohen, Andy, Brandi Glanville, Caroline Manzo Organizations: Service, Housewives, New, of, Business, Bravo, Shed Media, Warner Media, Beverly Hills, Housewives of Locations: New York City, Southern, of New York, Housewives of New Jersey
☆ Warner Bros. Discovery is hyping free cash flow. Investors don't appear to be buying it
  + stars: | 2024-02-23 | by ( Alex Sherman | ) www.cnbc.com   time to read: +2 min
Discovery investors are The Bobs, Chief Executive Officer David Zaslav is Tom and the disconnect he's worked up about is free cash flow. Discovery on Friday said it generated $3.3 billion in free cash flow during the fourth quarter and ended the year with $6.2 billion in free cash flow, up 86% from a year prior. For more than year, Zaslav has repeatedly told the investment community that his priority is to boost free cash flow to improve the health of the company and to pay down debt. Discovery has paid down $12.4 billion in debt in less than two years since announcing the merger of Discovery and WarnerMedia. We said we were going to generate meaningful free cash flow.
Persons: David Zaslav, Bob, Tom, Zaslav Organizations: Warner Bros . Discovery, Warner Bros, Discovery
☆ Warner Bros. Discovery misses estimates for revenue and profit but boosts free cash flow
  + stars: | 2024-02-23 | by ( Alex Sherman | ) www.cnbc.com   time to read: +1 min
Discovery missed analyst targets for both profit and revenue in the fourth quarter but boosted free cash flow as its streaming service Max ended 2023 profitable for the first time. Discovery generated $3.31 billion in free cash flow in the fourth quarter and ended 2023 with $6.16 billion in free cash flow, up 86% from a year prior. Chief Executive Officer David Zaslav has prioritized boosting free cash flow and shrinking the company's debt. Discovery paid down $1.2 billion of debt in the quarter and $5.4 billion in debt in 2023. Here's what the company reported for the quarter ended Dec. 31, versus analysts' estimates, according to LSEG, formerly known as Refinitiv:
Persons: Max, David Zaslav, Zaslav Organizations: Warner Bros . Discovery, Writers Guild of America, Alliance of Motion Pictures, Television Producers, Warner Bros, Discovery, Max, Disney, Comcast, Paramount Global Locations: Warner Bros . Discovery Atlanta, Atlanta , Georgia, U.S
☆ HBO is making it harder to watch John Oliver for free — the opposite of what Comedy Central is doing with Jon Stewart
  + stars: | 2024-02-20 | by ( Peter Kafka | ) www.businessinsider.com   time to read: +4 min
Discovery is delaying "Last Week Tonight" YouTube streaming to push viewers to Max. Every Sunday night, John Oliver hosts "Last Week Tonight" on cable TV. When it plays on YouTube, where HBO runs it without ads, it doesn't make any money. So hoping that making "Last Week Tonight" a little harder to see for free fits pretty easily into that pattern. AdvertisementThe move also runs counter to the way TV networks are treating comedy #content in general.
Persons: Max, —, Jon Stewart, John Oliver, Oliver, — John Oliver, @iamjohnoliver, David Zaslav, I've Organizations: Warner Bros, YouTube, Service, Warner Bros Discovery, HBO, MAX, Netflix, Big, Max Locations: YouTube's
☆ How Warner Bros. Discovery's games chief plans to build on 'Hogwarts Legacy' and give the company more much-needed wins
  + stars: | 2024-01-22 | by ( Lucia Moses | ) www.businessinsider.com   time to read: +6 min
Discovery's gaming division is on a winning streak with two of the biggest console games in 2023: "Hogwarts Legacy," the year's No. David Haddad is WBD's long-running games chief and the rare top WarnerMedia executive who survived the merger with Discovery (as well as the AT&T ownership era). In an interview with Business Insider, Haddad, who is president of Warner Bros. Interactive Entertainment — a position he's held since 2015 — framed the challenge and how he plans to keep WBD games' streak going. It can take the form of new events to keep people playing a strategy game like "Game of Thrones: Conquest" or new characters and tournaments in a fighting game like "Mortal Kombat." WBD's success with games separates it from other legacy media companies that have stumbled in the arena, most notably Disney.
Persons: —, execs, David Haddad, Haddad, We're, Harry Potter, it's, They've, Michael Pachter, Shaggy, David Zaslav, people's, Jefferies, Andrew Uerkwitz, LightShed, Haddad wouldn't, we've Organizations: Service, Warner, Business, Discovery, Warner Bros, Interactive Entertainment, Wedbush Securities, Disney, Netflix, Thrones, EA, Embracer Locations: WarnerMedia
☆ Warner Bros. Discovery's games chief shares plans to capitalize on 'Hogwarts Legacy' and boost the division's growth
  + stars: | 2024-01-16 | by ( Lucia Moses | ) www.businessinsider.com   time to read: +6 min
Discovery's gaming division is on a winning streak with two of the biggest console games in 2023: "Hogwarts Legacy," the year's No. In an interview with Business Insider, Haddad, who is president of Warner Bros. Interactive Entertainment — a position he's held since 2015 — framed the challenge and how he plans to keep WBD games' streak going. It can take the form of new events to keep people playing a strategy game like "Game of Thrones: Conquest" or new characters and tournaments in a fighting game like "Mortal Kombat." WBD's success with games separates it from other legacy media companies that have stumbled in the arena, most notably Disney. Nevertheless, analysts have speculated that given its past success and need for growth, WBD could buy another gaming company such as EA or Take-Two Interactive.
Persons: —, execs, David Haddad, Haddad, We're, Harry Potter, it's, They've, Michael Pachter, Shaggy, David Zaslav, people's, Jefferies, Andrew Uerkwitz, LightShed, Haddad wouldn't, we've Organizations: Service, Warner, Business, Discovery, Warner Bros, Interactive Entertainment, Wedbush Securities, Disney, Netflix, Thrones, EA, Embracer Locations: WarnerMedia
☆ The risks and rewards of a Warner Bros. Discovery and Paramount merger
  + stars: | 2023-12-21 | by ( Elisabeth Buchwald | ) edition.cnn.com   time to read: +3 min
With Warner Bros. Discovery and Paramount in talks for a potential merger, that could one day become the reality. Warner Bros. Buying Paramount would not help Warner Bros. Discovery’s effort to unwind its debt burden: Paramount has $15.7 billion in debt, a total that has barely budged all year. Since news of the potential deal broke on Wednesday afternoon, shares of Warner Bros.
Persons: ”, David Zaslav, Bob Bakish, you’d, Jack Kranefuss, ” Kranefuss, ” Derren Nathan, Hargreaves Lansdown, Spokespeople, Kranefuss Organizations: New, New York CNN, Warner Bros . Discovery, Paramount, Paramount Global, CNN, Fitch, Consumers, Warner Bros, Discovery, Black Entertainment Television, CBS Locations: New York
☆ DealBook Summit Global and Business Leaders Speak at New York Times Forum
  + stars: | 2023-11-29 | by ( Michael J. De La Merced | Tripp Mickle | Bernhard Warner | ) www.nytimes.com   time to read: +5 min
This year’s DealBook Summit will include conversations with global leaders and powerful figures from Wall Street, Silicon Valley and Hollywood. Jamie Dimon has been the chief executive of JPMorgan Chase since 2006 and its chairman since 2007, making him one of Wall Street’s longest-serving banking leaders. Bob Iger returned as Disney’s chief executive last year, after stepping down from the role in 2020. David Zaslav orchestrated Discovery’s takeover of WarnerMedia and became the chief executive of the new company, Warner Bros. The transaction helped transform his modest cable television company into an empire that includes the Warner Bros. movie and TV studios, HBO and CNN.
Persons: Andrew Ross Sorkin, Kamala Harris, Ms, Harris, Biden’s, Tsai Ing, Tsai, Elon Musk, Musk, Jamie Dimon, Jensen Huang, chipmaker, Bob Iger, Long, Iger, Lina Khan, Khan, ”, David Zaslav, Jay Monahan, LIV Golf, Monahan, Kevin McCarthy, Mr, McCarthy, Shonda Rhimes, Rhimes Organizations: Wall, Israel, Elon, SpaceX, JPMorgan Chase, First, Nvidia, Fox, Marvel, Pixar, Hollywood, ESPN, Federal Trade Commission, Columbia Law, WarnerMedia, Warner Bros, HBO, CNN, Republican, Republican Party, Shondaland, Netflix Locations: Silicon Valley, Hollywood, United States, California, San Francisco, Gaza, Taiwan, China, First Republic, Saudi
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