Tag Archives: Warner

The streaming industry’s password-sharing crackdown has claimed its next victim — Warner Bros. Discovery’s (WBD) Max streaming service. The platform formerly known as HBO Max will begin to restrict the practice later this year, with a wider rollout expected in 2025, Yahoo Finance confirmed. The news, first reported by Bloomberg, comes as media companies face pressure from shareholders to scale their streaming services and make them profitable. Streamers can boost their subscribers by… Source link

Disney’s ESPN (DIS) will team up with Warner Bros. Discovery (WBD) and Fox (FOXA) to launch a new sports streaming service, set to debut sometime this fall. According to the companies, the platform will bring together their respective slate of sports networks along with certain direct-to-consumer (DTC) sports services and sports rights. This will include content from all the major professional sports leagues and college sports. The offering, which was described as a “joint venture” split… Source link

The shake-up at Warner Bros. Discovery (WBD) continues. On Friday, the media giant revealed prominent Discovery executives will be exiting the company — the latest in a slew of restructuring efforts as CEO David Zaslav doubles down on streamlining the debt-ridden business. Among the departures will be Nancy Daniels, who oversaw channels at Discovery, TNT, and TBS, along with Jane Latman, who led the company’s HGTV and Food Network divisions. Matthew Butler, who most recently oversaw content… Source link

CNN has informed employees that layoffs are underway as parent company Warner Bros. Discovery (WBD) looks to slash $3 billion worth of costs over the next two years. According to an internal memo obtained by Yahoo Finance, CNN CEO Chris Licht wrote to employees on Wednesday: “Our people are the heart and soul of this organization. It is incredibly hard to say goodbye to any one member of the CNN team, much less many.” “I recently described this process as a gut punch, because I know that is… Source link

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Warner Bros. Discovery’s (WBD) stock sank another 14% in mid-afternoon trading on Friday after the company reported third quarter earnings results that missed expectations across the board. “It’s a legacy company of yesteryear that is trying to be a future company of tomorrow,” Julia Alexander, director of strategy at Parrot Analytics, told Yahoo Finance Live (video above). Alexander added that the media giant “is a three-prong company dealing with three different issues,” which she describes… Source link

Warner Bros. Discovery (WBD): Shares fell 2% in extended trading after the company’s revenue and subscriber growth fell short. Sales for the quarter totaled $9.82 billion, weighed down by a slowdown in advertising. WBD swung to a loss of $2.31 billion, compared to net income of $156 million a year ago. HBO, HBOMax and Discovery+ added 2.8 million subscribers during the quarter, missing the street’s estimates despite the success of its “Game of Thrones” spinoff. Starbucks (SBUX): The… Source link

Warner Bros. Discovery (WBD) is set to report third quarter earnings after the bell on Thursday after the company swung to a $3.42 billion loss in the second quarter amid consolidation challenges. Here’s what Wall Street expects, according to Bloomberg consensus estimates: Revenue: $10.37 billion expected Adj. loss per share: -$0.17 expected Total DTC subscribers: 3.27 million net additions expected Increased restructuring charges, macroeconomic challenges like foreign exchange headwinds, further… Source link

Warner Bros. Discovery’s (WBD) recent HBO Max retreat may signal good things to come for competitor Netflix (NFLX) — at least according to one media analyst. “[WBD] needs to be very focused on driving free cash flow and deleveraging,” Lightshed Partners’ Rich Greenfield told Yahoo Finance Live in a new interview, referencing the company’s reported $3.42 billion loss in the second quarter. “To them, that means embracing theaters and making sure they make as much money on every film,” the… Source link

Warner Bros. Discovery (WBD) continued to plummet on Thursday, dropping 16% in midday trading after the company reported a $3.42 billion loss in the second quarter, partly due to obstacles related to its recent merger. “We knew it was going to be messy, but this was pretty awful,” Geetha Ranganathan, Bloomberg Intelligence senior media analyst, told Yahoo Finance. The company expects 2022 adjusted EBITDA to come in between $9 billion and $9.5 billion, a decline from previous forecasts of $10… Source link