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☆ What Chris Licht Got Right and Wrong at CNN
▼ + stars: | 2023-06-09 | by ( Holman W. Jenkins | ) www.wsj.com time to read: 1 min

Holman W. Jenkins Jr. is a member of the editorial board of The Wall Street Journal. Mr. Jenkins joined the Journal in May 1992 as a writer for the editorial page in New York. In February 1994, he moved to Hong Kong as editor of The Asian Wall Street Journal's editorial page. Mr. Jenkins won a 1997 Gerald Loeb Award for distinguished business and financial coverage. Born in Philadelphia, Mr. Jenkins received a bachelor's degree from Hobart and William Smith Colleges and a master's degree in journalism from Northwestern University.

Persons: Holman W, Jenkins, Mr, Gerald Loeb, William Smith Organizations: Street, William, William Smith Colleges, Northwestern University, University of Michigan Locations: New York, Hong Kong, San Francisco, Philadelphia, Hobart

☆ A New York supermarket billionaire said he wants to buy CNN and that he just wants $1 per year for it
▼ + stars: | 2023-06-09 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +2 min

New York supermarket billionaire John Catsimatidis said he wants to buy CNN, per the New York Post. "I'd go run the place tomorrow morning, and all I'd want is $1 per year and a piece of the upside," he said. Catsimatidis — an outspoken Trump supporter — has a net worth of $4.1 billion, per Forbes. Just two days after embattled CNN CEO Chris Licht stepped down from his role in the aftermath of a brutal profile of his leadership, a New York supermarket billionaire said he wants to buy CNN from its parent Warner Bros. That is the craziest thing in the world," Catsimatidis — an outspoken Trump supporter — told 77 WABC.

Persons: John Catsimatidis, Catsimatidis, Trump, —, Chris Licht, Sid Rosenberg, Catsimatidis —, Forbes —, Donald Trump's, Donald Trump Organizations: CNN, New York, Forbes, Morning, Warner Bros ., WABC, Wall Street Journal, Warner Bros Locations: York, New York, New York City

☆ Who wants to be a CEO right now?
▼ + stars: | 2023-06-09 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Let's be real: Being a CEO sucks right now. But 2023 has brought a level of scrutiny that makes being a CEO today a nightmare for even the toughest leader. CNN's former chief Chris Licht stepped down on Wednesday after less than a year, following intense criticism from inside and outside his newsroom. Meme stock company GameStop fired its CEO Matthew Furlong on the same day as Licht, also after a short tenure. At the low point of a boom-and-bust cycle where high interest rates and high expectations reign supreme, being a CEO sucks.

Persons: Let's, CNN's Chris Licht, —, Jack Welch, CNN's, Chris Licht, Licht, Matthew Furlong, Jeff Shell, Jack Bowles, Patience, Matt Turner, Raul Vargas Organizations: Corporate, Service, General Electric, Observers, GameStop, Google, Farmers Group Locations: freefall, British

☆ Warner Bros Discovery and Tesla power this week's gains as S&P 500 hits highest level since August
▼ + stars: | 2023-06-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Warner Bros Discovery and Tesla helped push the market higher this week, as the S & P 500 approached its fourth straight week of gains. Warner Bros Discovery popped 19% week to date, and still has another 47% upside — based on FactSet's average analyst price target. About 59% of the analysts covering the stock rate it a buy. Meanwhile, Tesla 's ride higher continued this week, with the electric vehicle maker climbing about 16% since Monday. Norwegian has rallied more than 41% in 2023, but just 37% of analysts covering the stock rate it a buy.

Persons: Tesla, Chris Licht, Donald Trump, Itay Michaeli Organizations: Warner Bros Discovery, Warner Bros, CNN, GM, Ford, Citi, Cruise, Cruises Locations: Norwegian

☆ Who will replace Chris Licht as CEO at CNN? These 12 execs could be in the running, according to company insiders and news veterans.
▼ + stars: | 2023-06-09 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Warner Bros. Discovery chief David Zaslav is faced with finding another CEO for CNN after Chris Licht's exit. Just over a year after appointing Chris Licht to run CNN, Warner Bros. Discovery chief David Zaslav now faces the task of finding his replacement. He might look for a woman or person of color to bring diversity to a Warner Bros.

Persons: David Zaslav, Chris Licht's, Amy Entelis, Chris Licht, Zaslav, he's, he'll, CNN's, WBD, that's, Licht, Virginia Moseley, Eric Sherling, David Leavy, Claire Atkinson Organizations: Warner Bros . Discovery, CNN, Company, that's, Warner Bros, Discovery, Comcast

☆ Does CNN’s Turmoil Mean There’s No Room on Cable for Independent News?
▼ + stars: | 2023-06-08 | by ( Jim Rutenberg | ) www.nytimes.com time to read: +1 min

In the end, Mr. Licht’s attempt appeared to satisfy no one. In fact, Mr. Licht’s short tenure does not provide an easy answer. But it did illuminate just how hard it can be to find success where Mr. Licht was sent looking. And, several current and former CNN staff members said, that clear notion was precisely what was lacking under Mr. Licht and his boss, Mr. Zaslav, whose direction he was following. The definition was shaped more by what they did not want — all that had come before them under Mr. Licht’s predecessor, Jeff Zucker — than what they did want.

Persons: Licht’s, Licht, ” —, Zaslav, Donald J, Trump, . Licht, Jeff Zucker — Organizations: Cable, Republican, CNN

☆ Warner Bros. Discovery stock rises for second straight day as company pays down debt
▼ + stars: | 2023-06-08 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

The media giant has been contending with a heavy debt load stemming from the 2022 merger of Warner Bros. and Discovery. Warner Bros. Warner Bros. Warner Bros. Warner Bros.

Persons: Chris Licht, Wells Fargo, Steven Cahall, Cahall, David Zaslav Organizations: Warner Bros, CNN, Discovery, Warner Bros . Discovery, Public, Max, HBO, Discovery Channel, TLC Locations: U.S

☆ Who Are the 4 People Running CNN Now?
▼ + stars: | 2023-06-08 | by ( Katie Robertson | ) www.nytimes.com time to read: +1 min

Her division was reduced as part of cost-cutting measures by Mr. Licht, who announced in October that CNN would stop buying original TV series and documentary films and that Ms. Entelis would explore developing a studio focused on long-form content. Before joining CNN, Ms. Entelis worked at ABC News for 30 years, starting as a producer and rising through various leadership roles. She was one of three executives chosen last year to lead CNN on an interim basis after the ouster of its previous chief executive, Jeff Zucker. She was promoted to that job in July 2022 by Mr. Licht after a decade at the network, which she joined as a deputy in the Washington bureau. Ms. Moseley previously worked for 18 years at ABC News, where she was a senior Washington producer for “Good Morning America.” She is married to Thomas R. Nides, the U.S. ambassador to Israel.

Persons: . Licht, Entelis, Jeff Zucker, Virginia Moseley Virginia Moseley, Moseley, Thomas R Organizations: CNN, ABC News, White House, America Locations: United States, Washington, U.S, Israel

☆ CNBC Daily Open: Winds of change are blowing, but the haze remains
▼ + stars: | 2023-06-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +1 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Chris Licht relinquished his position as CNN's CEO and left the company, Warner Bros Discovery, the parent company of CNN, said Wednesday morning. So it was perhaps not surprising that investors were relieved by his departure, as indicated by the 8.43% jump in Warner Bros ' shares. Cohen is known as "the god figure of the meme-stock community," a Reddit user, who preferred to be anonymous for fear of retaliation, told CNBC.

Persons: Chris Licht, Licht's, Donald Trump, Matthew Furlong, Ryan Cohen, Cohen, GameStop's Organizations: Penn, Empire, CNBC, Warner Bros Discovery, CNN, Warner Bros, GameStop Locations: New York City, New York

☆ CNN management focused on 'listening' and 'getting back to work' as the network moves on from Chris Licht
▼ + stars: | 2023-06-08 | by ( Trisha Gopal | Lucia Moses | ) www.businessinsider.com time to read: +9 min

A trio of longtime executives have taken charge at CNN following the exit of Chris Licht. There's a moment in Tim Alberta's brutal profile of CNN's now-former CEO Chris Licht where Licht awkwardly takes a jab at his predecessor Jeff Zucker. The following Monday, as Licht attempted to quell growing calls for his ouster, Licht told CNN staff: "As I read that article, I found myself thinking, CNN is not about me. Jeff Zucker and Chris Licht at an event in 2019, back when Zucker still ran CNN and Licht was the showrunner on The Late Show on CBS. If Licht was seen as mismanaging CNN's top talent, Entelis, in particular, is known to be the queen of talent.

Persons: Chris Licht, David Leavy, Amy Entelis, Tim Alberta's, CNN's, Licht, Jeff Zucker, Zucker, Donald Trump, Christiane Amanpour . Licht, Anderson Cooper, Jake Tapper, Kara Swisher, Mike Coppola, — Licht, Virginia Moseley, Eric Sherling, Wolf, David Zaslav, Zaslav, WBD, Leavy, We're, — Leavy, I'm, Kaitlan Collins, Don Lemon's, Poppy Harlow, Licht's, PATRICIA DE MELO MOREIRA, Jonathan Miller, Entelis, Peter Jennings, Ted Koppel, Anthony Bourdain, Eric Ripert, Masa Takayama, Turner, Lisa Ling's, Bell, Tapper —, CNN —, She's, — Organizations: CNN, Morning, Vox Media, CBS, ABC, Warner Bros, Warner Bros Discovery, HBO, Getty, BBC News Board, Integrated Media, CNN Worldwide, Masa Locations: Trump, Japan, America

☆ Stocks making the biggest moves midday: GameStop, Amazon, Carvana and more
▼ + stars: | 2023-06-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

GameStop — The meme stock tumbled nearly 18% after the company fired CEO Matthew Furlong and appointed Ryan Cohen as executive chairman, effective immediately. Carvana — Shares popped 56% after the online car seller issued an upbeat outlook for the second quarter. Carvana said it now expects non-GAAP total gross profit per unit to come in above $6,000 in the second quarter. Smartsheet — Smartsheet tanked more than 17.5% after the software company said billings came in at $215.5 million, falling short of a StreetAccount estimate of $217.1 million. Trip.com posted earnings per share of 43 cents, beating a StreetAccount estimate of 26 cents.

Persons: Matthew Furlong, Ryan Cohen, Wells, Carvana, Wolfe, Fisker, Rod Lache, Chris Licht, Jefferies, billings, Lilly Pulitzer, Tommy Bahama, Trip.com, Yun Li, Alex Harring, Sarah Min, Michelle Fox, Tanaya Macheel Organizations: GameStop, Signet, Signet Jewelers, Wolfe Research, Warner Bros, CNN, Wynn Resorts, Sands, Mobile, Adobe —, Adobe, Oxford Industries Locations: Wells Fargo, Las, Macao

☆ CNN Tries to Change the Channel From Wall-to-Wall Chaos
▼ + stars: | 2023-06-08 | by ( Benjamin Mullin | John Koblin | ) www.nytimes.com time to read: +2 min

In interviews, some CNN journalists expressed frustration with the wall-to-wall coverage of the network and Mr. Licht, and they expressed hope it would end soon. CNN’s new leaders will have to deal with many challenges that Mr. Licht was in the middle of trying to overcome. It is preparing to cover the 2024 presidential election, a consequential event for the network and its business. Athan Stephanopoulos, whom Mr. Licht hired last year as CNN’s chief digital officer, has laid out a plan to generate $1 billion over the next several years. And the company is hosting a series of town hall forums for presidential contenders, including one next week with former Gov.

Persons: ”, Licht, CNN’s, Poppy Harlow, Phil Mattingly, Rahel Solomon, Athan Stephanopoulos, Mr, Chris Christie Organizations: CNN, ” CNN, White House, Gov Locations: New Jersey

☆ CNN staffers breathe sigh of relief after dismissal of embattled network chief. Now they wonder, what’s next?
▼ + stars: | 2023-06-08 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

CNN staffers don’t want the organization to be known for and consumed by a never-ending soap opera starring the C-suite. With Chris Licht’s dismissal as chairman and chief executive of CNN on Wednesday morning, staffers are aiming to get back to that mission. In recent months, David Zaslav, chief executive of CNN parent Warner Bros. The piece, in which Alberta spoke to more than 100 CNN employees, called into question Licht’s ability to lead the organization moving forward. Will the next network chief be an improvement over Licht?

Persons: don’t, Chris Licht’s, Jeff Zucker, Licht, David Zaslav, Zaslav’s, David Leavy, Tim Alberta, Zaslav, —, “, ”, ” Zaslav, “ It’s, Amy Entelis, Virginia Moseley, Eric Sherling, WBD Organizations: CNN, Employees, Warner Bros, Hudson, New Locations: Alberta, New York

☆ Stephen Colbert gave ousted CNN chief Chris Licht a hilarious on-air tribute a year before CNN fired him
▼ + stars: | 2023-06-08 | by ( Edith Honan | ) www.businessinsider.com time to read: +4 min

Before Chris Licht became CEO of CNN, he was the showrunner for "The Late Show with Stephen Colbert" on CBS. Licht lost his job this week after a disastrous profile in The Atlantic made him seem clueless and aloof. It was just over a year ago that Licht was treated to a hilarious and heartfelt goodbye from "The Late Show with Stephen Colbert." Stephen Colbert and Chris Licht during the February 28, 2022 show. Colbert and Licht then embrace to the music from Bette Midler's "Wind Beneath my Wings."

Persons: Chris Licht, Stephen Colbert, Licht, —, Colbert, nudging, Jimmy Fallon's, Joe, David Zaslav, Jeff Zucker's, Colbert's sendoff, Scott Kowalchyk, Shriekin, Bette Midler's, Tim Alberta, Colbert hasn't Organizations: CNN, CBS, Service, Warner Bros, Getty, Writers Guild of America, New York Times Magazine

☆ CNBC Daily Open: How quickly prospects change
▼ + stars: | 2023-06-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +4 min

Kevin Mazur | Getty Images Entertainment | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. U.S. Treasury Secretary Janet Yellen told CNBC she wouldn't be surprised if more banks start to consolidate, given the increased pressures on the banking system. The bottom lineProspects — for both firms and markets — changed as quickly and suddenly as the haze engulfed New York. Smaller companies are more sensitive to economic conditions because they tend not to have the financial heft to defy a downturn.

Persons: Chris Licht, Kevin Mazur, Janet Yellen, wouldn't, Yellen, Elon Musk, Licht's, Donald Trump, Matthew Furlong, Ryan Cohen, Cohen, GameStop's, Russell, That's, LPL, Quincy Krosby Organizations: CNN Worldwide, Warner Bros, Madison, Garden, Getty, CNBC, Dow Jones, Treasury, Millionaires, CNBC Millionaire Survey, Warner Bros Discovery, CNN, GameStop, Big Tech, Microsoft, Google, Nvidia, Qualcomm, Nasdaq Locations: New York City, U.S, Mongolia, New York

☆ CNN needs more than a new CEO. It needs a business strategy
▼ + stars: | 2023-06-08 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Chris Licht, Chairman and CEO, CNN Worldwide, speaks onstage during the Warner Bros. Warner Bros. But Licht's entire tenure at CNN could have turned out differently had he persuaded Zaslav to keep CNN+. Perrette told the CNN+ leadership to pause all marketing spending and not to launch on Roku. A Warner Bros.

Persons: Chris Licht, David Zaslav, Licht, Donald Trump, Zaslav, David Leavy, Jake Tapper's, Anderson Cooper, Andrew Morse, Alex MacCallum, Robyn Peterson, Neal Chugani, Perrette, financials Organizations: CNN Worldwide, Warner Bros, Madison, Garden, Discovery, CNN, Warner Bros . Discovery Locations: New York City

☆ CNN CEO Chris Licht Is Out After Chaotic Year Atop News Network
▼ + stars: | 2023-06-07 | by ( Isabella Simonetti | Joe Flint | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/cnn-chief-executive-chris-licht-is-out-dff6f818

Persons: Dow Jones Organizations: cnn

☆ Top CNN Anchors Criticize CEO Chris Licht’s Leadership
▼ + stars: | 2023-06-07 | by ( Isabella Simonetti | Joe Flint | ) www.wsj.com time to read: 1 min

Persons: Dow Jones, 447a4f8e Organizations: cnn

☆ Of course, they're probably going to put a woman in charge of CNN
▼ + stars: | 2023-06-07 | by ( Emily Cohn | ) www.businessinsider.com time to read: +3 min

Women are more likely to be promoted to top jobs when times are tough. Research shows that women and people of color are more likely to be promoted to top jobs when companies are going through tough times, or when a company is most likely to fail. CNN is certainly going through tough times. His tenure at the Warner Bros. Discovery-owned CNN was a rough run, defined by layoffs, a shrinking audience, and an increasingly angry newsroom. Two of the three editorial leads put in charge of the network on Wednesday in the interim are women.

Persons: CNN's, shouldn't, Chris Licht, Licht, Dylan Byers, Puck, Zucker, Jennifer Reynolds, Michelle Ryan, Elon Musk, Linda Yaccarino, Rebecca Knight Organizations: Research, CNN, Warner Bros ., Trump, Corporate, Twitter Locations: WBD

☆ Chris Licht's tumultuous 13-month run as CEO of CNN: Layoffs, anchor drama, and that really bad Atlantic profile
▼ + stars: | 2023-06-07 | by ( Madeline Berg | ) www.businessinsider.com time to read: +10 min

Discovery CEO David Zaslav emailed staff, letting them know Licht was stepping down. On the programming side, Licht launched "CNN This Morning," with anchors Don Lemon, Poppy Harlow, and Kaitlan Collins. "It's another shit show" on top of Licht's multiplying challenges at CNN, one former employee told Insider at the time. "Having people applaud those sexual abuse comments definitely made me question my allegiance to this network," one network executive told Insider. CNN's own media reporter Oliver Darcy said Licht had "lost the room," adding that dozens of CNN staffers no longer had confidence in their leader.

Persons: Chris Licht, David Zaslav, Licht, Zaslav, He'd, Jeff Zucker, Stephen Colbert's, Joe, Licht's, WBD, —, Brian Stelter, John Harwood, Don Lemon, Poppy Harlow, Kaitlan Collins, Chris Cuomo, Nikki Haley, isn't, Lemon, Gayle King, Charles Barkley, Dana Bash —, Donald Trump, Trump, CNN's Collins, Zucker, Insider's Nich Carlson, Zaslav's, Puck's Dylan Byers, he'd, CNN's, Oliver Darcy, Anderson Cooper, Jake Tapper, Max Tani Organizations: CNN, Warner Bros, Discovery, Licht, CBS, Trump, House, Republican Party, — CNN, AP, Variety, cnn Locations: Trump

☆ Let's be honest, whoever gets the top CNN job is also screwed because cable news is screwed. Its audience is dying off.
▼ + stars: | 2023-06-07 | by ( Nicholas Carlson | ) www.businessinsider.com time to read: +2 min

Discovery CEO David Zaslav is already on the hunt for his replacement. Whoever gets the gig will likely also face inevitable doom because cable news is dying. CNN chair and CEO Chris Licht is out and the search is on for his replacement. So he's gone, and his old boss, Warner Bros Discovery CEO David Zaslav says he's already searching for a replacement. As of the end of Q1, U.S. pay-TV services had 75.5 million customers, down nearly 7% on an annual basis."

Persons: Chris Licht, David Zaslav, Licht, he's, Trump, –, Todd Spangler Organizations: CNN, Warner Bros, Discovery, Trump, Warner Bros Discovery, Variety, YouTube, Hulu, DirecTV Locations: U.S

☆ Embattled CEO Chris Licht out at CNN
▼ + stars: | 2023-06-07 | by ( Helen Coster | ) www.reuters.com time to read: +2 min

[1/2] Chris Licht arrives for the Time 100 Gala celebrating Time magazine's 100 most influential people people in the world in New York, U.S., June 8, 2022. REUTERS/Caitlin OchsJune 7 (Reuters) - CNN Chairman and Chief Executive Chris Licht has stepped down from the media company, effective immediately, parent company Warner Bros. The move comes less than a week after the Atlantic magazine published a critical report about Licht. Discovery President and Chief Executive David Zaslav wrote that the company will be conducting a wide search, internally and externally, for a new leader. Reporting by Tiyashi Datta in Bengaluru; Editing by Savio D'Souza and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Licht, Caitlin Ochs, Amy Entelis, Virginia Moseley, Eric Sherling, David Leavy, David Zaslav, Chris, Zaslav, –, ” Licht, Stephen Colbert, ”, Jeff Zucker, Licht, Donald Trump, Trump, Kaitlan Collins, Tiyashi Datta, Savio D'Souza, Nick Zieminski Organizations: REUTERS, CNN, Warner Bros ., Warner Bros, Discovery, CBS, Republican, U.S . Capitol, Thomson Locations: New York, U.S, Bengaluru

☆ Who is Amy Entelis? CNN exec who lead award-winning documentary unit will take over from Chris Licht
▼ + stars: | 2023-06-07 | by ( Trisha Gopal | ) www.businessinsider.com time to read: +3 min

Entelis notably led the network's original series and feature-length documentary unit. Entelis, who joined joined CNN in 2012, revitalized the network's original series and feature-length documentary unit, launching high-profile shows like "Parts Unknown" with Anthony Bourdain and "Stanley Tucci: Searching for Italy." Entelis notably lead the charge at CNN Films, the network's longform documentary unit. According to the company's website, Entelis has been responsible for overseeing 45 documentary series and 60 feature length films, earning CNN 100 awards and 445 nominations. Before joining CNN, Entelis spent three decades at ABC, where she managed talent for shows like "20/20," "Good Morning America," "Nightline," and "World News Tonight."

Persons: Chris Licht, Amy Entelis, Entelis, Jeff Zucker, Anthony Bourdain, Stanley Tucci, Alexei Navalny, Licht, David Zaslav, David Leavy, Zaslav's, Virginia Moseley, Eric Sherling, Chris, Zaslav Organizations: CNN, Morning, CNN Worldwide, CNN Films, BAFTA, ABC, Warner Bros, Discovery Locations: Italy

☆ CNN shouldn't get a new CEO after the Licht debacle — here's what it needs instead
▼ + stars: | 2023-06-07 | by ( Alison Brower | ) www.businessinsider.com time to read: +4 min

Chris Licht's exit as CEO of CNN gives Warner Bros. Jeff Zucker, whose title was president, led CNN successfully — if not without controversy — for nine years. The CEO title didn't empower Licht, who was seen as executing Zaslav's vision, not his own. Without a CEO title. If Zaslav anoints a Licht replacement without the CEO title, even if the functions of the job don't change much, media observers will see it as a less lofty role.

Persons: Chris Licht's, Jeff Zucker, Licht, WBD, David Zaslav, that's, — Zucker, Zaslav, Zucker, David Leavy, should've, — Organizations: CNN, Warner Bros, CNN Worldwide, WarnerMedia News, Sports, Trump, Street Journal

☆ Amazon leads declines in discretionary sector, streaming companies outperform
▼ + stars: | 2023-06-07 | by ( Sinéad Carew | ) www.reuters.com time to read: +2 min

Amazon shares deepened losses after a Wall Street Journal report said the online retailer and video streamer is planning an advertising-supported tier for its Prime Video streaming service and that it is in talks with Warner Bros Discovery and Paramount about including ad-based tiers of their streaming services through Amazon Prime Video Channels. Forrest said the move would suggest that "the Prime service isn't enough" to keep customers. Along with streaming video, Prime subscriptions also include free shipping for eligible products, which helps boost Amazon's online sales. For anyone who has dropped the Prime service, Forrest said they would "buy from somewhere else because nobody wants to pay for shipping and pretty much everybody is offering free shipping now." The S&P's consumer discretionary sector, which includes Amazon, was down 0.9%.

Persons: Chris Licht, Kim Forrest, Forrest, Sinéad Carew, Deepa Babington Organizations: Amazon.com, Warner Bros Discovery, Paramount, Amazon Prime, Warner Bros, CNN, Amazon, Bokeh Capital Partners, Thomson Locations: Pittsburgh

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