Warner Bros Discovery has walked away from GB News, selling its £60 million (€71m) investment in the fledgling channel to existing backers Legatum Ventures and its chairman Sir Paul Marshall. WBD says that since the Warner-Discover merger, it had “evaluated our global and local investment portfolio” and is no longer a GB News shareholder. WBD […]
Anthem Sports & Entertainment, a global multi-platform media company, has announced that the Company’s professional wrestling promotion, IMPACT Wrestling, has extended its partnership with Warner Bros Discovery’s premium sports channel Eurosport India – ensuring that viewers across India, Bangladesh, Bhutan, Maldives, Nepal, Pakistan and Sri Lanka can continue to enjoy IMPACT’s content. The agreement includes […]
Warner Bros Discovery (WBD) has laid off around 70 workers at HBO and the HBO Max streaming service – equating to 14 per cent of the workforce. Unscripted and live-action family programming for HBO Max, the streaming service, were most affected according to a report in The New York Times. Other cuts impacted HBO Max’s […]
Nexstar Media Group has entered into a definitive agreement to acquire a 75 per cent ownership interest in The CW Network. Warner Bros Discovery and Paramount Global the current co-owners of The CW, will each retain a 12.5 per cent ownership interest and continue to produce content for the broadcaster. Nexstar, together with its partner […]
Hannes Heyelmann, who was named EVP and General Manager of Warner Bros Discovery Germany, Switzerland and Austria in June, has unveiled his management team. “In the past few weeks I have been working on the future strategy for Warner Bros Discovery in Germany, Switzerland and Austria, including the formation of the management team for our […]
Credit ratings agency S&P Global Ratings has confirmed its positive outlook on Warner Bros Discovery (WBD; BBB-/positive/A-3) is unchanged after the company reported its first quarterly results post-merger and lowered its 2022 and 2023 EBITDA guidance. “A positive outlook implies a 33 per cent chance we will raise the ratings, but also up to a […]
Analysts from MoffettNathanson (MN), having examined in some detail the pro-forma numbers from Warner Bros Discovery (WBD) are concerned. WBD says its EBITDA guidance for 2023 will be about $12 billion (€11.7bn), and thus two billion less than previously expected. MN says even these reduced numbers are dependent on profits from linear cable networks which […]
Following submission to the UK’s Competition and Markets Authority (CMA), BT Group and Warner Bros Discovery have welcomed the decision to approve the BT Group agreement with Warner Bros Discovery to form a 50:50 Joint Venture (JV) company that will create a new sports offering for the UK & Ireland. The CMA’s decision now allows […]
The first event of the PTO Tour will be beamed live around the world in over 160 territories thanks to a raft of broadcast deals led by an exclusive 3-year partnership with Warner Bros Discovery. The inaugural PTO Canadian Open in Edmonton (July 23rd to 24th) will be live on Eurosport 1 with the exclusive […]
Beyond Rights has struck first time representation relationships with four new producer partners: Lou Reda Productions from the US, Canada’s White Pine Pictures, Ronde Media from Australia, and Magnetic Pictures from New Zealand. Working with Lou Reda Productions, a company best-known for its archival non-fiction titles, Beyond Rights has acquired Eyewitness WWII: Invasion Italy (2 […]