Paramount has confirmed it will not increase its $30-per-share takeover bid for Warner Bros. Discovery (WBD) for now, despite the media company’s board rejecting the proposal in favour of its existing agreement with Netflix. In a statement released on Thursday, Paramount insisted its offer remains the better option for shareholders, describing it as superior to…
The long-rumored sale of Warner Bros. Discovery (WBD) is gaining momentum after a Wall Street Journal report revealed that Paramount’s new leadership is preparing a bid to acquire the media giant. The news sent shockwaves through the entertainment industry, with analysts warning that the move could spark a fierce bidding war involving multiple tech and…
Warner Bros. Discovery has officially reverted the name of its streaming service back to HBO Max, effective immediately. The company has confirmed that users will begin seeing the updated branding roll out across the platform, bringing back a name that was originally dropped in 2023 in favor of the shortened “Max.” The move marks a…
Warner Bros. Discovery has announced plans to divide its business into two separate publicly traded companies, marking a significant shift aimed at giving each segment greater strategic independence. The split, set to take effect by mid-2026, will separate the company’s streaming and studio operations from its traditional television networks. Under the proposed structure, the first…
Warner Bros. Discovery, the parent company of CNN, announced on Thursday a significant restructuring plan that will divide its operations into two distinct divisions, separating its traditional cable networks from its growing streaming and studio businesses. The new structure, set to take effect by mid-2025, will create two operating units: “Global Linear Networks”—which will oversee…
Warner Bros. Discovery (WBD) is facing increasing financial pressure as its stock took a sharp 10% hit, plummeting to a new low of $6.90 following a dismal second-quarter earnings report. The steep decline comes on the heels of a massive $9.1 billion write-down on the company’s network assets, signalling the rapid deterioration of the traditional…
NEW YORK, NY – Warner Bros. Discovery (WBD) has initiated legal action against the NBA after the league dismissed its matching offer for broadcasting rights, thereby ending a four-decade-long partnership. The lawsuit, filed Thursday under seal in New York County Supreme Court, follows the NBA’s decision to reject WBD’s $1.8 billion per year bid, favouring…
The National Basketball Association (NBA) and Warner Bros. Discovery (WBD), the parent company of TNT, are on a collision course toward a legal battle over broadcasting rights, setting the stage for a high-stakes conflict in the sports media industry. On Wednesday, the NBA rejected WBD’s attempt to match Amazon’s $1.8 billion annual offer for broadcasting…
Warner Bros. Discovery (WBD) has informed the NBA that it will match Amazon’s $1.8 billion annual offer to retain broadcast rights for a package of league games. In a statement on Monday, TNT Sports, owned by WBD, confirmed the submission of matching paperwork to the NBA, emphasizing its eagerness to continue its long-standing relationship with…
Warner Bros. Discovery, facing ongoing challenges in the media industry, revealed a significantly reduced loss in the final quarter of 2023 compared to the same period the previous year. However, the company’s loss was wider than analysts had anticipated. The media conglomerate, which boasts CNN among its assets, reported a net loss of $400 million…
In a significant development for the media industry, Chief Executives David Zaslav of Warner Bros. Discovery and Bob Bakish of Paramount Global engaged in discussions about a possible merger between the two entertainment giants. The potential alliance, if realized, would bring together Warner Bros. and Paramount studios, along with prominent media assets such as CBS,…
