Warner Bros. Discovery Stock Takes Hit After $11.2 Billion Loss
Warner Bros. Discovery Announced Quarterly profit (or loss, to be precise) was $11.2 billion, giving it a “B” loss. Warner Bros. Discovery (WBD) reported second-quarter earnings after the close on Wednesday that missed expectations on both revenue and profit and took a huge $9.1 billion impairment charge related to its television networks division. Including an […]
Warner Bros. Discovery writes down value of TV assets by $9B
Warner Bros. Discovery said on Wednesday it was writing down the value of its television assets due to uncertainty about fees from cable and satellite distributors and sports rights renewals, sending its shares down nearly 10% in after-hours trading. The film and entertainment studio, which owns sports network TNT and streaming service Max, took a […]
Warner Bros. Discovery sues NBA over matching rights clause
As expected, billable hours will be a big money maker in the new NBA rights deal. TNT’s parent company, Warner Bros. Discovery (WBD), sued the NBA over matching rights clauses in a previous television contract after the NBA indicated its intention to end its decades-long partnership with TNT. The lawsuit was filed Friday in New […]
Warner Bros. Discovery to sue NBA after losing broadcast rights: report
Warner Bros. Discovery plans to sue the National Basketball Association in New York after the NBA rejected an even-bid for television rights, a person familiar with the matter said on Thursday. The NBA said Wednesday it rejected a proposal from Warner’s TNT Sports division, ending a 40-year partnership and signing new, 11-year, $77 billion deals […]
NBA rejects Warner Bros. Discovery media rights bid; TNT broadcasts to likely cease after next season
The NBA’s television rights situation has become a hot topic due in part to the popularity of “Inside the NBA,” a long-running studio show featuring Ernie Johnson and former NBA great Charles Barkley. Shaquille O’Neal And Kenny Smith. Despite being one of the league’s media partners for the past few decades, TNT’s parent company Warner […]
Warner Bros. Discovery Slashes 1,000 More Jobs, Talks Studio Split
After thousands of layoffs following the 2022 merger between Discovery and Warner Bros. another 1,000 job cuts are planned. “According to the source [the far-left] variety WBD plans to lay off around 1,000 employees across several departments, including finance, operations, production and streamer Max, as part of new cost-cutting measures.” report addition“The majority of the […]
Warner Bros. Discovery reportedly mulls breaking up media giant to boost sagging stock
Just two years after its mega-merger, Warner Bros. Discovery, the parent company of CNN and HBO, is reportedly considering plans to separate its digital streaming and studio businesses from its traditional TV networks in a bid to boost its sagging stock price. WBD President David Zaslav, who announced a new round of layoffs this week […]
Beanie Babies founder Ty Warner unveils the ‘Beanie Bouncer’ — a plush ball that ‘bounces as high as 50 feet’
Beanie Babies founder Ty Warner has unveiled a new line of stuffed animals that he hopes will capture the hearts of kids – and parents’ wallets. Warner exclusively told The Washington Post in an email that the Beanie Bouncer is a 4-inch-tall stuffed toy with a ball inside that can bounce up to 50 feet. […]
Warner Bros. Discovery to lay off nearly 1,000 staffers amid calls from analyst to ‘explore stategic options’
Warner Bros. Discovery is reportedly cutting 1,000 jobs as it faces calls to sell assets including CNN, which has struggled in the ratings. The layoffs, which began earlier this month, affect the finance, business and production divisions, as well as streaming provider Max, the entertainment news site reported. deadline. The cuts come at a turbulent […]
Universal, Warner, And Sony File $2.6 Billion Anti-Piracy Suit Against Verizon
Universal, Warner and Sony filed a $2.6 billion copyright infringement lawsuit against Verizon on Friday, The Hollywood Reporter (THR) reported. A coalition of major record companies has filed a lawsuit against Verizon, accusing the telecommunications giant of failing to curb copyright infringement among its users. according to Via THR. The lawsuit, filed in New York […]