David Zaslav News

Turner Sports intends to continue its longtime relationship with the NBA

Subscribe to enjoy similar stories. Paramount Chief Executive David Ellison knew his latest bid for Warner Bros. Discovery was in trouble when the company’s CEO David Zaslav started ghosting him.

Subscribe to enjoy similar stories. Paramount Chief Executive David Ellison knew his latest bid for Warner Bros. Discovery was in trouble when the company’s CEO David Zaslav started ghosting him.

Warner Bros Discovery said on Wednesday it wrote down the value of its TV assets due to the uncertainty of fees from cable and satellite distributors and sports rights renewals, sending its shares down nearly 10% in extended trading. The film and entertainment studio, which owns sports network TNT and streaming service Max, recorded a $9.1 billion non-cash goodwill charge in the second quarter. This charge, stemming from a reassessment of the assets' value since the merger of WarnerMedia and Discovery, contributed to a $10 billion net loss for the quarter. The media landscape has significantly changed in the past two years, impacting valuations and expectations for traditional media companies and this current situation is reflected in the write down, CEO David Zaslav said in a call with analysts.

Warner Bros Discovery, the owner of CNN and HBO, has discussed a plan to split its digital streaming and studio businesses from its legacy TV networks in a bid to boost its flailing stock price, the Financial Times reported on Thursday. The media giant's shares jumped 6.5% in premarket trading.

Warner Bros. Discovery shares have slumped since the media and entertainment company was created two years ago, but that hasn’t dented its chief executive’s pay. Last year, CEO David Zaslav received pay valued at $49.7 million, a 27% increase from 2022, the company said in a securities filing Friday.

Investing.com — Warner Bros. Discovery (NASDAQ:WBD) has reported fourth-quarter revenue that was below average analyst forecasts, but the media group said it is now on a «clear pathway» to growth.

MoffettNathanson upgraded shares of Paramount Global (PARA) to Neutral from Sell with a new price target of $13, up from $10 per share on Tuesday.

The world’s largest traditional entertainment companies face a reckoning in 2024 after losing more than US$5 billion in the past year from the streaming services they built to compete with Netflix Inc.

Warner Bros. Discovery Inc. held talks on a possible merger with Paramount Global, potentially combining two of the biggest media companies in the world, according to people with knowledge of the matter.

(Reuters) -Warner Bros Discovery (NASDAQ:WBD) CEO David Zaslav met with Paramount Global CEO Bob Bakish to discuss a potential deal between the two companies, a source told Reuters on Wednesday.

Warner Bros. Discovery (NASDAQ:WBD) shares fell over 5.7% on Wednesday after Axios reported the company is engaged in early talks with Paramount Global (PARA) on a potential merger.

Warner Bros.' decision to shelve the completed film «Coyote vs. Acme» as a $30 million tax write-off, the studio is now allowing the film to be pitched to other distributors. Screenings are reportedly being arranged for streaming giants Amazon Prime Video, Apple, and Netflix to potentially acquire the movie, which concluded filming in 2022 with initial plans for theatrical release. While Amazon and Netflix have been active buyers during the pandemic, the fate of «Coyote vs.

Adria Alpert Romm, Warner Bros. Discovery's Chief People and Culture Officer, has announced her retirement. Romm is set to step down from her role at the end of June 2024, with the company making this announcement on October 31, 2023. In addition to Romm's retirement, the company has also revealed that Jennifer Remling from WPP will assume the position as the new HR executive, joining Warner Bros. Discovery in January. Remling will work under the direct supervision of Warner Bros. Discovery CEO David Zaslav, whom Alpert Romm has assisted for the past 30 years. WBD acknowledges the substantial role played by Alpert Romm, including her pivotal involvement in Discovery's acquisition of Scripps Networks in 2018 and the successful integration of AT&T's WarnerMedia in 2022. Furthermore, Romm led the development of DEI (diversity, equity, and inclusion) programs and various wellness initiatives, including the creation and expansion of wellness centers and on-site daycare facilities around the world.

intermittent strikes at Ford, General Motors (GM) and Stellantis, America’s “big three" carmakers. A month in and the two sides are still at loggerheads. Jim Farley, Ford’s chief executive, has argued that the 36% pay rise over four years demanded by the striking workers would cripple his business.

By Yuvraj Malik and Zaheer Kachwala

Writers Guild of America and the Alliance of Motion Picture and Television Producers have inched toward a deal to end the nearly five-month strike, though no agreement has been reached. There are strong indications that the two sides are closing in on a tentative agreement. In a short message sent to members, the WGA confirmed that negotiations are scheduled to resume shortly and thanked them for responding to the call to pack out the guild’s picket lines.

Hollywood studios and striking screenwriters are resuming negotiations for the second day in a row

CNN is bringing in former New York Times and BBC leader Mark Thompson in an attempt to turn around its fortunes

Warner Bros Discovery named Mark Thompson as CEO of CNN on Wednesday, tasking the former New York Times and BBC chief with reviving a news network beset by sagging ratings and falling profits.Thompson succeeds Chris Licht, who stepped down in June after a rocky one year at the helm that included a divisive town hall with former Republican U.S. President Donald Trump and the shutdown of CNN+ streaming service just weeks after its launch. With Thompson, 66, Warner Bros Discovery is turning to an executive with ample experience at the top level, unlike Licht — a former TV producer who had worked on «The Late Show With Stephen Colbert.» During his 8-year tenure as the CEO of the Times, Thompson helped transform the Gray Lady into a beacon for newspapers in the internet age by focusing on digital subscriptions. The Times' share price grew nearly five-fold in the period, widely outperforming the benchmark S&P 500 index. «Mark is a true innovator who has transformed for the digital age two of the world's most respected news organizations,» Warner Bros Discovery CEO David Zaslav said in a statement. A big focus area for Thompson is likely to be the recently announced round-the-clock news service called CNN Max, which will be available on Warner Bros Discovery's streaming platform. CNN Max is looking to capitalize on the immediacy of breaking news and analysis, differentiating it from CNN+, which featured lifestyle programs. The news network's ratings have been sagging, even as the company attempts to attract more Republican viewers. Its profit fell under $1 billion in 2022 and is expected to be modestly higher this year than last, at $938.6 million, according to data from S&P Global Market Intelligence.

leadership of the WGA. The strike is approaching its fourth month and if a deal isn’t reached soon, the 2023-2024 television season and many high-profile movies are likely to be delayed or scrapped altogether. “We have come to the table with an offer that meets the priority concerns the writers have expressed.