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Netflix, run by chairman Reed Hastings and co-CEOs Ted Sarandos and Greg Peters, has agreed to buy Warner Bros. in a megadeal valued at $82.7 billion. The companies announced the deal early Friday, altering the course of the entertainment business. Netflix said that it expects to maintain the current operations of Warner Bros. “including theatrical…
In a deal that would dramatically change the entertainment industry, Netflix, led by Ted Sarandos and Greg Peters, is poised to win the battle for Warner Bros. Discovery‘s studios and HBO Max streaming business. Netflix is said to be in exclusive talks with the David Zaslav-led WBD after topping rival bids from Paramount and Comcast….
Thursday is the day when Warner Bros. Discovery will receive formal bids from potential acquirers. One of those bids is all but certain to come from Paramount, which under CEO David Ellison mostly replaced the creative executives running that company in favor of his own team. It’s the sort of news that could consume many…
The battle for Warner Bros. Discovery is officially underway. Offers are being made. Banks have been hired. Who will wind up with the treasure trove of IP, HBO, and abundant cable TV cashflow? Will it sell as one piece? Or will it be broken up into studios and networks? The clock is ticking. Here’s an…
Ever since the media mogul John Malone helped persuade David Zaslav to leave NBC and become the CEO of Discovery Communications, the executive has defined his leadership by dealmaking. He acquired Scripps Networks to try and build a reality-driven entertainment giant, and forged the deal for WarnerMedia over golf emojis with AT&T CEO John Stankey….
Disney, Warner Bros. Discovery and Universal Pictures have sued a Chinese artificial intelligence image and video generator for copyright infringement, opening another front in a high-stakes battle involving the use of movies and TV shows owned by major studios to teach AI systems. The lawsuit, filed on Tuesday in California federal court, accuses MiniMax of…
Warner Bros. Discovery reported Q2 earnings Thursday that were turbocharged by its studio business, even as its streaming business continued to its growth trajectory, and with linear TV still struggling in a tough environment. The company reported revenue of $9.8 billion, up modestly from the same quarter a year ago, with net income of $1.6…
Warner Bros. Discovery (WBD) will launch its streaming service HBO Max in a dozen countries, mostly in Europe and some in Asia, in July to bring the streamer to a total of around 90 territories and further accelerate its global growth strategy, “as the platform approaches availability in 100 markets.” The Hollywood Reporter has learned…
As cable television continues to experience stagnation, with the trend of cord-cutting growing stronger each year, Warner Bros. Discovery (WBD) is adapting to the evolving media landscape by separating its streaming and cable operations. This landmark decision aims to maximize the potential of both businesses, according to WBD. The company announced Monday its plan to split…
It sounds like Discoveryco. may be a reality. Warner Bros. Discovery is “moving towards…a split,” CNBC’s David Faber reported on Thursday, in a news update that broke right after the company’s quarterly earnings results and call with Wall Street analysts. Faber added, “and it’s become relatively clear to me from the many conversations that I’ve…