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“Inside the collapse of CNN+: ‘A uniquely sh-tty situation’” CNN+ was doomed before it had a chance thanks to bad timing and a fundamental disagreement over strategy between previous management and the new corporate parent that was formed after a recent multi-billion dollar merger, according to a report. The cable news network’s fledgling streaming service…
“#Discovery posts stronger than expected profits as ad sales recover” Discovery, owner of channels like The Food Network, TLC and Animal Planet, beat Wall Street’s second-quarter expectations, due in part to the rebound in advertising sales following last year’s economic fallout from the pandemic. Nonetheless, shares of Discovery fell over 5 percent in midday trading,…
“#Discovery’s Q1 squeezed by streaming costs, lower ad sales” Discovery, the owner of Food Network, HGTV and TLC, reported first quarter results that fell short of Wall Street’s projections due to higher-than-expected costs related to the launch of its streaming service Discovery+ and declining advertising sales. Shares of Discovery slumped over 7 percent on the…
“#Discovery sets debut for Chip and Joanna Gaines’ Magnolia app” Discovery is betting big on “Fixer Upper” stars Chip and Joanna Gaines. The broadcasting giant behind The Food Network, HGTV and Animal Planet is set to debut its Magnolia streaming app on July 15, ahead of a Magnolia TV channel that’s slated to launch in…
“#Oprah nabs stake in Discovery as company takes 95% of OWN” Oprah Winfrey has swapped most of her interest in OWN for a small ownership in Discovery, home of TLC’s trashy hit reality series, “90 Day Fiancé.” According to an SEC filing Tuesday, Winfrey nabbed a stake worth less than 1 percent of the $35…