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☆ Warner Bros. Discovery signs audience measurement deal with startup Nielsen rival VideoAmp
▼ + stars: | 2023-01-03 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +5 min

Discovery has signed a deal with VideoAmp to measure its audience as an alternative means of data for advertisers, the companies announced Tuesday. Firms like Nielsen and VideoAmp offer audience estimates and data that TV networks and streamers use to sell slots for commercials. The merger between Discovery and Warner Media closed in 2022, amassing a portfolio of TV networks including the Discovery Channel, TLC, TNT, TBS and others. The merged company plans to roll out a revamped streaming platform in the spring, combining its Discovery+ with Warner's HBO Max. "Traditional media measurement has not kept pace with how consumers are engaging with streaming and linear content.

☆ 2022 was tough for media stocks like Netflix and Disney, and 2023 doesn't look good, either
▼ + stars: | 2022-12-29 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +7 min

On top of that, companies are contending with lower ad revenue and more cord cutting. Tightening ad marketOn top of this, the ad market has worsened. Paramount missed third-quarter estimates after its ad revenue dropped, with its stock hitting a low in the following days. "We also anticipate that advertising streaming will become more important in the year to come," Solomon Partners' Boidman said. For media companies like Comcast and Charter Communications , lagging subscriber growth on the broadband front, rather than the pay-TV business, weighed more significantly on their stocks.

☆ YouTube's NFL 'Sunday Ticket' deal is a win for traditional TV networks, too – here's why
▼ + stars: | 2022-12-23 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +5 min

Traditional TV networks got what they wanted out of it, too. Google's YouTube TV bundle includes broadcast stations like CBS, Fox and NBC. Sports, and particularly the NFL, have long been considered the glue holding the traditional TV bundle together. YouTube TV had more than 5.3 million subscribers as of the third quarter, putting it above its competitors like Disney's Hulu Live TV+, Fubo TV and Dish's Sling, according to data from MoffettNathanson. "This is a win for YouTube TV as it serves a larger goal for them getting more subscribers.

☆ Landing the NFL Sunday Ticket could boost Alphabet subscription offerings, Citi says
▼ + stars: | 2022-12-23 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Landing the NFL's Sunday Ticket could help YouTube-parent Alphabet accelerate its subscription services, according to Citi. "[We] believe the Sunday Ticket could accelerate adoption of more subscription services," Josey added. The price target implies shares could surge 36% from Thursday's closing price. The Sunday Ticket package will be available to viewers as an add-on service on YouTube TV, or on YouTube Primetime Channels as a stand-alone a la carte option. In July, Google said YouTube TV has more than 5 million customers, which included trial subscriptions.

YouTube TV will pay roughly $2 billion a year for the rights of the Sunday Ticket package, according to people familiar with the matter. Amazon secured the rights to “Thursday Night Football,” making it the first streaming-only platform to air NFL games, paying about $1 billion per year. YouTube TV is an internet bundle of broadcast and cable networks that mirrors a traditional linear pay-TV operator. The company has been expanding its sports footprint for its Apple TV+ streaming service. DirecTV is interested in delivering Sunday Ticket games in a similar capacity, people familiar with the matter have said.

☆ NFL 'Sunday Ticket' goes to YouTube in seven-year, $2 billion annual deal
▼ + stars: | 2022-12-22 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Patrick Mcdermott | Getty ImagesIn the latter option, consumers will be able to subscribe only to "Sunday Ticket" without having a YouTube TV subscription. NFL Media not includedThe deal with YouTube TV does not include a stake in NFL Media, which includes the linear cable channels NFL Network and RedZone, as well as NFL.com. Prasad said Thursday the NFL is still evaluating potential partners for NFL Media, "but there's no specific initiative right now." It's the last NFL package to land a media rights renewal. Amazon secured the rights to "Thursday Night Football," making it the first streaming-only platform to air NFL games, paying about $1 billion per year.

☆ AMC plunges after theater company announces capital raise, proposes reverse stock split
▼ + stars: | 2022-12-22 | by ( Lillian Rizzo | ) www.cnbc.com time to read: 1 min

In this articleAMC Entertainment 's stock fell swiftly on Thursday after the company announced a new $110 million capital raise and a proposed reverse stock split that will require shareholder approval. AMC's stock was down nearly 19% in premarket trading to $4.30. Read the full release from the company here. This is breaking news. Please check back for updates.

The National Football League is finalizing a deal for the rights to its subscription-only package of games known as Sunday Ticket with Google's YouTube TV, according to people familiar with the matter. Goodell said earlier that the league aimed to announce a rights deal with Sunday Ticket by the end of the fall. The Sunday Ticket package has been the NFL's only set of media rights that has yet to be renewed through 2030. The deal with YouTube TV comes after various media operators, including Amazon , Apple and Disney's ESPN, considered the rights to the property. WATCH: I believe NFL media rights will be moving to streaming

☆ Disney shares fall following softer-than-expected 'Avatar' opening weekend
▼ + stars: | 2022-12-19 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Shares of Disney dropped on Monday following a weaker-than-expected opening box office weekend for James Cameron's "Avatar: The Way of Water." Industry analysts pegged the long-awaited "Avatar" sequel as a box office winner for Disney and are viewing the holiday season as a make-or-break period for the film. The film notched $134 million at the domestic box office during its opening weekend, falling short of analyst expectations of $175 million and Disney's own forecast of between $135 million and $150 million. Still, box office analysts aren't concerned yet. Internationally, "Way of Water" raked in $300.5 million, bringing its total opening weekend number to $434.5 million.

☆ FuboTV hit with cyberattack during World Cup semifinal match
▼ + stars: | 2022-12-15 | by ( Lillian Rizzo | ) www.cnbc.com time to read: 1 min

FuboTV , a live-TV bundle streaming service, said it was the target of a criminal cyberattack Wednesday, affecting customers trying to access their subscriptions during the World Cup semifinal match between France and Morocco. Once the attack was detected, FuboTV said, it took immediate steps to contain the incident and was able to restore service by Wednesday evening. The World Cup semifinal match, in which France defeated Morocco 2-0, began at 2 p.m. ET on Wednesday, and many of FuboTV's customers took to social media when they weren't able to access the match. The company noted the incident had nothing to do with any bandwidth constraints on its part.

☆ 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.

☆ GameStop reports decline in revenue and sharp decrease in cash
▼ + stars: | 2022-12-07 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange (NYSE) March 29, 2022. GameStop said Wednesday its fiscal third quarter sales declined and its cash pile sharply dwindled, as the brick-and-mortar retailer has been working to expand its digital presence. The company's cash and cash equivalents fell to nearly $804 million from approximately $1.4 billion a year earlier. GameStop has been working to become profitable and revamp its brick-and-mortar retail business, after what executives have said were years of underinvestment. GameStop said last month that it had ended its partnership with FTX, after the crypto exchange filed for bankruptcy.

☆ Netflix co-CEO Sarandos says streamer likely to offer multiple ad-supported tiers
▼ + stars: | 2022-12-06 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

Netflix is likely to offer multiple subscription plans with ads in the future, the company's co-Chief Executive Ted Sarandos said on Tuesday, just weeks after the streaming giant rolled out its first ad-supported option. For viewers who don't want to see commercials, Netflix already offers multiple plans ranging in price from $9.99 a month to $19.99 a month. And the company will likely do the same for its ad-supported model as the business grows, Sarandos said at the UBS TMT conference. "We have multiple tiers today, so it's likely we'll have multiple ad tiers over time, but nothing to talk about yet," Sarandos said. Disney+ also plans to launch a tier with advertising, while also raising prices for its commercial-free option and other streaming services.

☆ 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.

Shares of Paramount Global fell Tuesday after CEO Robert Bakish warned that fourth-quarter advertising revenue would be lower than the company's sluggish third-quarter figures. Paramount's ad revenue declined 2% in the third quarter. Paramount isn't the only media company to say the ad market is rough. NBCUniversal CEO Jeff Shell said at the UBS conference Monday that it has steadily worsened over the last six to nine months. Programing note: Paramount CEO Robert Bakish will appear on CNBC's "Squawk on the Street" on Wednesday at 10 a.m.

Discovery logo is displayed on a smartphone screen and in the background, the HBO Max and Discovery Plus logos. Warner Bros. Discovery executives are close to formalizing a new name and platform for its soon-to-be launched streaming service that will combine the preexisting HBO Max and Discovery+ services. HBO, Discovery, DC Comics and Warner Bros. will be among the landing hubs on the platform, the people added. The pricing of the combined streaming service is still being discussed, the people said.

In this article DIS Follow your favorite stocks CREATE FREE ACCOUNTBob Iger, CEO, The Walt Disney Company Scott Mlyn | CNBCDisney reappointed Bob Iger as its chief executive recently, abruptly replacing his hand-picked successor Bob Chapek, and giving Iger an early goal — find a new replacement during the next two years. Iger's attention has quickly turned to the other part of his mandate from the board — the immediate challenges facing Disney's business, such as the company's reorganization, cost structure and the future growth of its streaming business. He is the chairman of Disney's studio content and spearheaded the integration of Iger's acquisitions into Disney's overall content pipeline. D'Amaro is head of Disney's parks, experiences and products, the same position Chapek held before becoming CEO. Rebecca Campbell, who's currently in charge of Disney's international content and operations, is another candidate that Iger may favor, people familiar with the matter said.

☆ 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.

Netflix founder and co-CEO Reed Hastings said Wednesday he was slow to come around to advertising on the streaming platform because he was too focused on digital competition from Facebook and Google . "So Google and Facebook were going to mop up the world — and they have in non-TV advertising." Advertisers were "desperate" for avenues in connected TV and internet, Hastings said, but Netflix was still on the sidelines. "We didn't have to steal away the advertising revenue. There are also free streaming services, such as Paramount's Pluto and Fox Corp.'s Tubi, which make revenue solely through advertising.

AMC Networks told its employees Tuesday that it is planning significant layoffs, according to a memo obtained by CNBC and people familiar with the matter. In recent years, AMC Networks has been seen as an acquisition target for larger media companies. We have directed the executive leadership of AMC Networks to undergo significant cutbacks in operations. These will include a large-scale layoff as well as cuts to every operating area of AMC Networks. We are confident that AMC Networks will come through this even stronger.

Distressed crypto firm BlockFi has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of New Jersey following the implosion of putative acquirer FTX. Like FTX, BlockFi also has a Bahamian subsidiary. BlockFi's bankruptcy filing shows that the company's largest disclosed client has a balance of nearly $28 million. The company started talking with restructuring professionals in the days after FTX's bankruptcy filing, according to people familiar with the matter. Approximately 130 additional affiliated companies are part of the proceedings, including Alameda Research, Bankman-Fried's crypto trading firm, and FTX.us, the company's U.S. subsidiary.

☆ Potential News Corp, Fox reunion faces opposition from large shareholder
▼ + stars: | 2022-11-23 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Independent Franchise Partners told the Journal that a straight equity exchange between Fox and News Corp would dilute and delay the realization of News Corp's substantial intrinsic value. The firm wouldn't oppose a recombination so long as it was done in a way that would see News Corp shares valued at more than $30. However, it believes the only way to realize that share price is to sell parts of News Corp, which was trading at around $18 on Wednesday. This is not the first non-Murdoch shareholder to push back on the proposed deal. Earlier this week, Irenic Capital Management said it sent a letter to the special committee saying Fox didn't serve News Corp's strategic goals, and, like Independent Franchise, believes News Corp shares are undervalued.

☆ Trump Media deal partner says shareholders approve delay of merger with Truth Social parent
▼ + stars: | 2022-11-22 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

DWAC needed 65% of its shareholders to approve an extension of the deadline to merge with Trump Media until September 2023. If a merger were to take place, it would give hundreds of millions of dollars in funding to Trump Media. Internal documents have shown that Trump Media also considered mergers and partnerships with other right-wing-friendly platforms, including Rumble and Parler. Over the weekend, Elon Musk, the new owner of Twitter, reinstated Trump on the social media platform. The special purpose acquisition vehicle has also been dealing with the fallout from a Trump Media executive's whistleblower complaint to federal regulators.

☆ Disney board reached out to Iger on Friday following concerns over earnings
▼ + stars: | 2022-11-21 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

Disney's board reached out to Bob Iger on Friday, without any other serious candidates in mind to replace Bob Chapek as CEO, CNBC's David Faber reported Monday, citing sources. The board's outreach to Iger and discussion to replace Chapek came after surging concerns crested following Disney's most recent quarterly earnings report, according to Faber's sources. While some internal candidates were identified that might be able to take the job over time, the board didn't want to put someone new in that position given all various pressures on the company, Faber reported. On Sunday, Disney said it would replace Chapek with Iger as chief executive, effective immediately. Disney reported fiscal fourth-quarter earnings earlier this month, disappointing on profit and certain key revenue segments.

☆ Iger announces first big moves in new tenure as Disney CEO: Restructuring and departure of Chapek right hand Kareem Daniel
▼ + stars: | 2022-11-21 | by ( Alex Sherman Lillian Rizzo Sara Salinas | Alex Sherman | Lillian Rizzo | ) www.cnbc.com time to read: +1 min

Bob Iger, less than 24 hours after returning to the helm of Disney , told employees Monday that the company would be undergoing a restructuring in coming weeks. One of the first steps, Iger announced, would be the departure of Kareem Daniel, the company's head of media and entertainment, and right hand to now-departed CEO Bob Chapek. "This will necessitate a reorganization of Disney Media & Entertainment Distribution. As a result, Kareem Daniel will be leaving the company," Iger said in the memo, which was obtained by CNBC. Chapek reorganized the company to establish the DMED division and consolidate budgetary power for Disney's content and distribution divisions under Daniel.

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