Dune: Part Two was released in the theatres on 1st March 2024 and thanks to director Denis Villeneuve’s vision, the film was a massive success. With many positive reviews from critics, it is being labeled as one of the best sequels of all time. Obviously, this was only possible because of 2021’s Dune. At the same time, Warner Bros. almost ruined the film by releasing it on HBO Max on the same day as its theatrical release.
A still from Denis Villeneuve’s Dune: Part Two
In an opinionated piece, Villeneuve opened up about the involvement of Warner Bros and AT&T in the release of Dune (2021). Villeneuve was sure that the film would be ruined because of this decision, but Warner Bros. assured him the sequel would happen if it performed well on HBO Max. Thankfully, the film was a hit and led to the creation of Dune: Part Two.
A still from Denis Villeneuve’s Dune: Part Two
In an opinionated piece, Villeneuve opened up about the involvement of Warner Bros and AT&T in the release of Dune (2021). Villeneuve was sure that the film would be ruined because of this decision, but Warner Bros. assured him the sequel would happen if it performed well on HBO Max. Thankfully, the film was a hit and led to the creation of Dune: Part Two.
- 3/2/2024
- by Farhan Asif
- FandomWire
An AT&T retail store.
AT&T has offered a $5 bill credit to customers as an apology for last Thursday’s widespread outage that left many subscribers unable to make calls or surf the Internet on their mobile devices
In a statement posted online, an AT&T spokesperson said potentially impacted customers will automatically receive a credit on their account within one to two billing cycles, though most customers will see the credit applied to their next bill.
Eligible customers are those with consumer and small business lines, AT&T said. The telecom said it is working with its large-scale and government account holders to “address their concerns” in the future.
Prepaid customers, including those who pay for AT&T service through their prepaid subsidiary Cricket Wireless, are also not automatically eligible, though AT&T said it might extend certain service credits to them if they were proven to be impacted by the outage.
AT&T has offered a $5 bill credit to customers as an apology for last Thursday’s widespread outage that left many subscribers unable to make calls or surf the Internet on their mobile devices
In a statement posted online, an AT&T spokesperson said potentially impacted customers will automatically receive a credit on their account within one to two billing cycles, though most customers will see the credit applied to their next bill.
Eligible customers are those with consumer and small business lines, AT&T said. The telecom said it is working with its large-scale and government account holders to “address their concerns” in the future.
Prepaid customers, including those who pay for AT&T service through their prepaid subsidiary Cricket Wireless, are also not automatically eligible, though AT&T said it might extend certain service credits to them if they were proven to be impacted by the outage.
- 2/26/2024
- by Matthew Keys
- The Desk
Update: John Leguizamo and his wife Justine were given choice spots at the White House State Dinner: At the president’s table, seated with figures including Senate Majority Leader Chuck Schumer and Australian Prime Minister Anthony Albanese.
Earlier, Leguizamo told a reporter that he “definitely” would be hitting the campaign trail for Joe Biden in 2024.
Asked about Biden’s outreach to Latino voters, Leguizamo said, “I think he’s doing the right things, which is getting Latin consulatns and talking to Latin experts who tell him how to address us, and make the effort. If you make the effort, we will be there, but you have to make the effort. I think he’s doing all that — him and Kamala Harris as well.”
Previously: The guest list for tonight’s White House State Dinner for Australian Prime Minister Anthony Albanese and partner Jodie Haydon includes a number of names from entertainment and media.
Earlier, Leguizamo told a reporter that he “definitely” would be hitting the campaign trail for Joe Biden in 2024.
Asked about Biden’s outreach to Latino voters, Leguizamo said, “I think he’s doing the right things, which is getting Latin consulatns and talking to Latin experts who tell him how to address us, and make the effort. If you make the effort, we will be there, but you have to make the effort. I think he’s doing all that — him and Kamala Harris as well.”
Previously: The guest list for tonight’s White House State Dinner for Australian Prime Minister Anthony Albanese and partner Jodie Haydon includes a number of names from entertainment and media.
- 10/25/2023
- by Ted Johnson
- Deadline Film + TV
It wasn’t that David Zaslav wasn’t cautioned. He was, explicitly, in a December 2022 conversation with CAA’s Bryan Lourd, who said that damaging the relatively small but beloved Turner Classic Movies would lead to backlash from “a lot of important people” — people whom Zaslav most admired and wanted to be admired by, such as Steven Spielberg, Martin Scorsese and Paul Thomas Anderson.
But while Zaslav repeatedly declared and continues to declare his love for TCM, by the time that conversation took place, the channel had been undergoing months of layoffs and budget reductions that ultimately led top executives to depart on June 20. Among them: Charles Tabesh, the longtime programmer considered by many to be the heart of the network.
In the aftermath of the predicted backlash, Wbd is announcing today that creative oversight of the channel will move from the division that imposed those cuts, headed by Wbd...
But while Zaslav repeatedly declared and continues to declare his love for TCM, by the time that conversation took place, the channel had been undergoing months of layoffs and budget reductions that ultimately led top executives to depart on June 20. Among them: Charles Tabesh, the longtime programmer considered by many to be the heart of the network.
In the aftermath of the predicted backlash, Wbd is announcing today that creative oversight of the channel will move from the division that imposed those cuts, headed by Wbd...
- 6/28/2023
- by Kim Masters
- The Hollywood Reporter - Movie News
During the 2020 pandemic, streaming services became the new gold rush. As nearly every entertainment company raced to set up their own version of Netflix, millions of dollars were thrown at new movies and shows, along with discounts and marketing gimmicks. How hard could it be to copy Netflix’s business model? After all, some of these companies had 100-year-old vaults of beloved content. Turns out, the streaming wars are more brutal than these companies anticipated. And investors are sending loud signals they’re losing patience.
Warner Bros. Discovery
Disney
Paramount Global
Comcast
Lionsgate
Sony
Fox
What About Apple TV+ and Amazon Prime Video?
The Unicorn: Netflix
Warner Bros. Discovery Stock down 50% since companies merged in April 2022
HBO and the Turner networks were a strange fit with their old parent, AT&T. CEO John Stankey couldn’t be bothered to mention those properties during earnings calls. So he tossed them to his golf buddy David Zaslav,...
Warner Bros. Discovery
Disney
Paramount Global
Comcast
Lionsgate
Sony
Fox
What About Apple TV+ and Amazon Prime Video?
The Unicorn: Netflix
Warner Bros. Discovery Stock down 50% since companies merged in April 2022
HBO and the Turner networks were a strange fit with their old parent, AT&T. CEO John Stankey couldn’t be bothered to mention those properties during earnings calls. So he tossed them to his golf buddy David Zaslav,...
- 5/19/2023
- by Ben Bowman
- The Streamable
AT&T CEO John Stankey chose not to address options for DirecTV to merge with Dish Networks amid continuing speculation about a tie-up for the declining satellite TV operators.
“I’ve never really commented on my point of view of what the calculus is and the combination of DirecTV and Dish, and I don’t expect expect to do that today,” Stankey said on an analyst call after releasing his company’s first quarter earnings. The AT&T boss was asked to comment on Dish Network having become a “distressed security” in equity and bond markets, and whether that altered AT&T’s strategy on a possible tie-up between Dish and DirecTV.
Stankey batted the question instead to Dish Networks chairman Charlie Ergen, who has long said a potential merger was “inevitable.”
“On your commentary on Dish, I don’t want to stipulate necessarily to your characterization. I’m sure Charlie doesn’t stipulate to them,...
“I’ve never really commented on my point of view of what the calculus is and the combination of DirecTV and Dish, and I don’t expect expect to do that today,” Stankey said on an analyst call after releasing his company’s first quarter earnings. The AT&T boss was asked to comment on Dish Network having become a “distressed security” in equity and bond markets, and whether that altered AT&T’s strategy on a possible tie-up between Dish and DirecTV.
Stankey batted the question instead to Dish Networks chairman Charlie Ergen, who has long said a potential merger was “inevitable.”
“On your commentary on Dish, I don’t want to stipulate necessarily to your characterization. I’m sure Charlie doesn’t stipulate to them,...
- 4/20/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Nelson Peltz’s broadside against the Walt Disney Co., and the prospect of a rare proxy fight at the media giant, stunned media circles this week — and a flurry of SEC filings over the past few days suggest plenty more fireworks to come.
Related Story Bob Iger’s Christmas Carol & The Ghosts Of Past, Present & Future Related Story Disney Seeks To Soothe Fans' Ruffled Feathers With New Theme Park Perks Related Story International Box Office 2022: Gains & Growing Pains Amid Product Gaps; Global Studio Rankings
The activist investor’s demand for a seat on the company’s board and criticism of management have drawn the full attention of a Wall Street already on tenterhooks about how returned CEO Bob Iger will right the ship. The famed exec’s encore run as Disney’s chief already faces a series of challenges, some industrywide, others self-inflicted.
Peltz isn’t quite a household name,...
Related Story Bob Iger’s Christmas Carol & The Ghosts Of Past, Present & Future Related Story Disney Seeks To Soothe Fans' Ruffled Feathers With New Theme Park Perks Related Story International Box Office 2022: Gains & Growing Pains Amid Product Gaps; Global Studio Rankings
The activist investor’s demand for a seat on the company’s board and criticism of management have drawn the full attention of a Wall Street already on tenterhooks about how returned CEO Bob Iger will right the ship. The famed exec’s encore run as Disney’s chief already faces a series of challenges, some industrywide, others self-inflicted.
Peltz isn’t quite a household name,...
- 1/14/2023
- by Dade Hayes and Jill Goldsmith
- Deadline Film + TV
Last week the National Society of Film Critics honored “TÁR” as the year’s best film, but it also handed out a prize that doubled as a cry for corporate investment. As one this year’s “Film Heritage Awards” recipients, Turner Classic Movies received a citation for its “rich array of programming that ranges deep and wide in the history of cinema, a service too easily taken for granted by audiences and worthy of the utmost care and attention from its corporate owners.”
As an Nsfc member, I was happy to vote in favor of this award. Few curatorial entities preserve cinema history while presenting it to a mass audience; of those, only TCM has the backing of a major media company. That’s why I fear we could lose it — and why the broader efforts to preserve film history also face peril.
The economy, shaky box office, and a...
As an Nsfc member, I was happy to vote in favor of this award. Few curatorial entities preserve cinema history while presenting it to a mass audience; of those, only TCM has the backing of a major media company. That’s why I fear we could lose it — and why the broader efforts to preserve film history also face peril.
The economy, shaky box office, and a...
- 1/14/2023
- by Eric Kohn
- Indiewire
Warner Bros Discovery and Amazon have struck a new distribution deal for HBO Max, returning the streaming service to Prime Video Channels.
The agreement undoes a key mission for prior corporate entity WarnerMedia, which launched HBO Max in 2020, two years before merging with Discovery. Former WarnerMedia CEO Jason Kilar, who had a long exec stint at Amazon early in his career, made it a central goal to secure distribution for HBO Max as a stand-alone app on Amazon Fire TV devices as opposed to having it featured as part of Channels. WarnerMedia’s then-parent, AT&T, championed Kilar’s strategy, with CEO John Stankey publicly antagonizing Amazon for what he said were strong-arm tactics. The tangle wound up delaying HBO Max’s availability on Amazon for months, costing the nascent streaming operation access to key new subscribers as it hit the market. Roku, another major streaming gateway, also faced a months-long...
The agreement undoes a key mission for prior corporate entity WarnerMedia, which launched HBO Max in 2020, two years before merging with Discovery. Former WarnerMedia CEO Jason Kilar, who had a long exec stint at Amazon early in his career, made it a central goal to secure distribution for HBO Max as a stand-alone app on Amazon Fire TV devices as opposed to having it featured as part of Channels. WarnerMedia’s then-parent, AT&T, championed Kilar’s strategy, with CEO John Stankey publicly antagonizing Amazon for what he said were strong-arm tactics. The tangle wound up delaying HBO Max’s availability on Amazon for months, costing the nascent streaming operation access to key new subscribers as it hit the market. Roku, another major streaming gateway, also faced a months-long...
- 12/6/2022
- by Dade Hayes
- Deadline Film + TV
Click here to read the full article.
“The theatrical business is here to stay,” Warner Bros. Discovery is saying “100 percent yes” to theatrical windows, and local content is an important complement to global hits, the conglomerate’s president, international Gerhard Zeiler told a Royal Television Society (Rts) gathering in London on Tuesday.
Zeiler spoke during an appearance at the Rts London Convention 2022 in a conversation with ITN journalist Nina Hossain, discussing the vision for the new media and entertainment giant and its plans to harness its brands to engage audiences that the industry giant.
“The vision is actually quite easy. We are a content company,” Zeiler said when asked about the vision of the merged Warner Bros. Discovery. “We tell stories” in many, many ways, including in feature films, TV series, animation, sports, news, documentaries and games. He touted the “breadth” of how the firm tells stories, while highlighting “the development and quality” of content,...
“The theatrical business is here to stay,” Warner Bros. Discovery is saying “100 percent yes” to theatrical windows, and local content is an important complement to global hits, the conglomerate’s president, international Gerhard Zeiler told a Royal Television Society (Rts) gathering in London on Tuesday.
Zeiler spoke during an appearance at the Rts London Convention 2022 in a conversation with ITN journalist Nina Hossain, discussing the vision for the new media and entertainment giant and its plans to harness its brands to engage audiences that the industry giant.
“The vision is actually quite easy. We are a content company,” Zeiler said when asked about the vision of the merged Warner Bros. Discovery. “We tell stories” in many, many ways, including in feature films, TV series, animation, sports, news, documentaries and games. He touted the “breadth” of how the firm tells stories, while highlighting “the development and quality” of content,...
- 9/27/2022
- by Georg Szalai
- The Hollywood Reporter - Movie News
If there was one thing that the turbulent week at Warner Bros. Discovery displayed, it’s just how quickly conventional wisdom can change from one regime to the next, when each is trying to gin up the stock price for Wall Street.
Wbd chief David Zaslav was busy. On the eve of a rumored layoff bloodbath across the company to cut at least 3 billion of debt off the books, there was the abrupt and cruel cancelation of Batgirl and the HBO Max animated feature Scoob! with the latter message delivered while the co-directors were in Morocco as one of them was getting married.
There has also been rampant speculation there may be further trims of the HBO Max development slate of J.J. Abrams’ Bad Robot after Abrams’ big-ticket series Demimonde was scrapped in one of the new regime’s first moves. It’s clear that current DC Films head...
Wbd chief David Zaslav was busy. On the eve of a rumored layoff bloodbath across the company to cut at least 3 billion of debt off the books, there was the abrupt and cruel cancelation of Batgirl and the HBO Max animated feature Scoob! with the latter message delivered while the co-directors were in Morocco as one of them was getting married.
There has also been rampant speculation there may be further trims of the HBO Max development slate of J.J. Abrams’ Bad Robot after Abrams’ big-ticket series Demimonde was scrapped in one of the new regime’s first moves. It’s clear that current DC Films head...
- 8/7/2022
- by Mike Fleming Jr, Peter White and Anthony D'Alessandro
- Deadline Film + TV
Warner Bros. Pictures has had a string of recent successes in the realm of superhero movies and intellectual property management. But it doesn’t feel that way, huh? To be sure, Matt Reeves’ The Batman reinvigorated that character’s brand, grossing 770 million in a meager 45-day theatrical window, which is well up since the same character headlined the disastrous 2017 release of Justice League to the anemic tune of 658 million. It also wasn’t that long ago when Joker (2019) won multiple Oscars, including for Best Actor, after grossing over 1 billion on a 70 million budget.
WB is making money from, and maintaining the popularity of, DC characters… but lately not in the so-called DC Extended Universe. Movies like The Batman and especially Joker are gambits, “elseworld” takes on these characters if you want to use nerd jargon. But the mainline DC franchise that is intended to compete with Marvel Studios’ golden goose output?...
WB is making money from, and maintaining the popularity of, DC characters… but lately not in the so-called DC Extended Universe. Movies like The Batman and especially Joker are gambits, “elseworld” takes on these characters if you want to use nerd jargon. But the mainline DC franchise that is intended to compete with Marvel Studios’ golden goose output?...
- 8/3/2022
- by David Crow
- Den of Geek
Click here to read the full article.
After dropping HBO Max as a bundle perk for new unlimited mobile phone plans following AT&T’s sale of WarnerMedia to Discovery, the telecom giant is eyeing possibly rebundling the streaming service as a promotion to draw new customers.
“I don’t think anything should be viewed as static and I think entertainment is part of a wireless bundle is probably something that’s going to be around with us in this industry for a good period of time, because I think certain customers resonate with it and you know HBO Max is a great product,” AT&T CEO John Stankey told analysts during a morning call on Thursday.
Stankey said AT&T “shifted the mix” of its promotional plan earlier this summer to include additional high-speed hotspot data and free roaming in certain countries during a peak travel period for subscribers.
But...
After dropping HBO Max as a bundle perk for new unlimited mobile phone plans following AT&T’s sale of WarnerMedia to Discovery, the telecom giant is eyeing possibly rebundling the streaming service as a promotion to draw new customers.
“I don’t think anything should be viewed as static and I think entertainment is part of a wireless bundle is probably something that’s going to be around with us in this industry for a good period of time, because I think certain customers resonate with it and you know HBO Max is a great product,” AT&T CEO John Stankey told analysts during a morning call on Thursday.
Stankey said AT&T “shifted the mix” of its promotional plan earlier this summer to include additional high-speed hotspot data and free roaming in certain countries during a peak travel period for subscribers.
But...
- 7/21/2022
- by Etan Vlessing
- The Hollywood Reporter - Movie News
AT&T on Thursday reported solid results for its final quarter of full ownership of WarnerMedia, but its stock plunged after the company lowered its outlook for full-year free cash flow.
Excluding items, AT&T posted earnings per share of 65 cents in the quarter ending June 30, beating Wall Street analysts’ consensus estimate of 61 cents. Revenue matched the Street view at 29.6 billion, up 2 from a year ago when DirecTV and WarnerMedia are not counted in the 2021 quarter.
Shares in AT&T fell 10 to 18.43 at the start of the trading day, slipping below their level just after the April 8 close of the WarnerMedia deal. In that 43 billion transaction, the telecom giant spun off WarnerMedia into a new entity, Warner Bros Discovery, with shareholders retaining a 71 stake. Last August, Att spun off pay-tv operator DirecTV into another new entity, with private equity firm Tpg taking a 30 stake.
The company added 813,000 net new monthly bill...
Excluding items, AT&T posted earnings per share of 65 cents in the quarter ending June 30, beating Wall Street analysts’ consensus estimate of 61 cents. Revenue matched the Street view at 29.6 billion, up 2 from a year ago when DirecTV and WarnerMedia are not counted in the 2021 quarter.
Shares in AT&T fell 10 to 18.43 at the start of the trading day, slipping below their level just after the April 8 close of the WarnerMedia deal. In that 43 billion transaction, the telecom giant spun off WarnerMedia into a new entity, Warner Bros Discovery, with shareholders retaining a 71 stake. Last August, Att spun off pay-tv operator DirecTV into another new entity, with private equity firm Tpg taking a 30 stake.
The company added 813,000 net new monthly bill...
- 7/21/2022
- by Dade Hayes
- Deadline Film + TV
For all of the changes that roil Hollywood every week, its operations remain resolute in their conservatism: Go with who you know. Back in 2001, a 35-year-old Toby Emmerich took the reins as New Line Cinema’s president of production after the departure of his mentor, Michael De Luca. In 2008, Emmerich became New Line’s president and CEO, reporting to Warner Bros.’ then-president Alan Horn.
Cut to 2022 and David “Zas” Zaslav is in charge of building the Warner Discovery empire. Emmerich, chairman of the Warner Bros. Motion Picture Group, is out; replacing him is De Luca, 59, and his lieutenant, Pamela Abdy, 48, who recently exited their jobs leading the MGM Motion Picture Group after its acquisition by Amazon. And Horn is readying his own comeback, as a consultant to Zaslav.
Emmerich and De Luca have more in common than most of the studios’ chess pieces. Both were forged in the scrappy New Line ethos,...
Cut to 2022 and David “Zas” Zaslav is in charge of building the Warner Discovery empire. Emmerich, chairman of the Warner Bros. Motion Picture Group, is out; replacing him is De Luca, 59, and his lieutenant, Pamela Abdy, 48, who recently exited their jobs leading the MGM Motion Picture Group after its acquisition by Amazon. And Horn is readying his own comeback, as a consultant to Zaslav.
Emmerich and De Luca have more in common than most of the studios’ chess pieces. Both were forged in the scrappy New Line ethos,...
- 6/1/2022
- by Anne Thompson
- Indiewire
Once upon a time, former WarnerMedia CEO Jason Kilar had a dream: build HBO Max into a streaming service that could rival Netflix and Disney+. It was the goalpost that determined as many decisions during his tenure, which began in May 2020, as the Covid-19 pandemic. Hence the rush to release the entire 2021 Warner Bros. film slate simultaneously on HBO Max (which certainly left money on the table with Dune), and the choice to pillage explore WarnerMedia’s entire library for streaming content. Like Game of Thrones? Want a spinoff? How about six?
But perhaps nothing in the Warner catalog is of greater value for streaming or otherwise than DC Comics and its rich stable of familiar intellectual property, from Superman to Batgirl. Disney already beat WB to this ground, too, by spinning off popular characters into streaming TV shows like Loki and WandaVision. But Kilar and WarnerMedia were going to...
But perhaps nothing in the Warner catalog is of greater value for streaming or otherwise than DC Comics and its rich stable of familiar intellectual property, from Superman to Batgirl. Disney already beat WB to this ground, too, by spinning off popular characters into streaming TV shows like Loki and WandaVision. But Kilar and WarnerMedia were going to...
- 4/26/2022
- by David Crow
- Den of Geek
After a topsy-turvy week, the thought occurred to me during AT&T’s investor call on Thursday: What if John Stankey wound up on the winning side of the streaming wars?
Netflix took a nosedive on Tuesday with an earnings report that proved that it could not suspend the law of gravity forever. The steady upward climb of Netflix subscriber gains had to stop sometime, and that sometime was Q1 2022.
The jolt that the news of six-figure losses in Q1 and a projected seven-figure loss for Q2 packed a wallop on Netflix stock price. It also dealt a blow to the Hollywood psyche about the long-term promise of streaming, reminiscent of how the earth quaked in August 2015 when then-Disney CEO Bob Iger acknowledged that even the mighty ESPN had faced “some subscriber losses.”
That became the moment that Hollywood begrudgingly had to acknowledge that cord-cutting was a real threat. Will Netflix...
Netflix took a nosedive on Tuesday with an earnings report that proved that it could not suspend the law of gravity forever. The steady upward climb of Netflix subscriber gains had to stop sometime, and that sometime was Q1 2022.
The jolt that the news of six-figure losses in Q1 and a projected seven-figure loss for Q2 packed a wallop on Netflix stock price. It also dealt a blow to the Hollywood psyche about the long-term promise of streaming, reminiscent of how the earth quaked in August 2015 when then-Disney CEO Bob Iger acknowledged that even the mighty ESPN had faced “some subscriber losses.”
That became the moment that Hollywood begrudgingly had to acknowledge that cord-cutting was a real threat. Will Netflix...
- 4/23/2022
- by Cynthia Littleton
- Variety Film + TV
AT&T CEO John Stankey said managing passwords is a key to long-term sustainability in the streaming business and something he and his team had in mind well before HBO Max launched. He made the comments on a call with analysts following AT&T’s latest earnings and two days after Netflix revealed that 100 million viewers use its service for free by sharing passwords.
“We were thoughtful about how we built the product and that we gave customers enough flexibility but we don’t want to see rampant abuse,” Stankey said. Products and features were built in “consistent with the user agreement that has terms and conditions of how they can and can’t use the service, and we have enforced it.”
“We actively in any given month are looking at how any give users are using the product… I think that’s the right way for the industry to be...
“We were thoughtful about how we built the product and that we gave customers enough flexibility but we don’t want to see rampant abuse,” Stankey said. Products and features were built in “consistent with the user agreement that has terms and conditions of how they can and can’t use the service, and we have enforced it.”
“We actively in any given month are looking at how any give users are using the product… I think that’s the right way for the industry to be...
- 4/21/2022
- by Jill Goldsmith
- Deadline Film + TV
HBO and HBO Max added 3 million subscribers in the first quarter of 2022, bringing their total to 76.8 million worldwide.
The growth was announced Thursday in AT&T’s first earnings report since spinning off WarnerMedia in a 55 billion merger deal with Discovery that was completed earlier this month.
It also marked a stark contrast to Netflix’s surprising loss of 200,000 subscribers worldwide in the same quarter — a setback that led to a 35 nosedive in the streaming giant’s stock price on Wednesday.
HBO and HBO Max added 1.8 million domestic subscribers in Q1, reaching a total of 48.6 million. The 3 million quarterly uptick also matched the growth in Q1 2021 in the midst of the pandemic. Subscription revenues also climbed 4.4 to 4 billion — which drove WarnerMedia revenue to 8.7 billion — a 2.5 increase from the year before.
Meanwhile, ad revenue dipped 3 to 1.7 billion, a further sign of weakening in the linear TV viewership.
In addition, the company cited...
The growth was announced Thursday in AT&T’s first earnings report since spinning off WarnerMedia in a 55 billion merger deal with Discovery that was completed earlier this month.
It also marked a stark contrast to Netflix’s surprising loss of 200,000 subscribers worldwide in the same quarter — a setback that led to a 35 nosedive in the streaming giant’s stock price on Wednesday.
HBO and HBO Max added 1.8 million domestic subscribers in Q1, reaching a total of 48.6 million. The 3 million quarterly uptick also matched the growth in Q1 2021 in the midst of the pandemic. Subscription revenues also climbed 4.4 to 4 billion — which drove WarnerMedia revenue to 8.7 billion — a 2.5 increase from the year before.
Meanwhile, ad revenue dipped 3 to 1.7 billion, a further sign of weakening in the linear TV viewership.
In addition, the company cited...
- 4/21/2022
- by Thom Geier
- The Wrap
HBO Max and HBO had 76.8 million global subscribers as of March – up by 3 million from the previous quarter and 12.8 million from the year earlier. Domestic subscribers of 48.6 million rose 4.4 million year-on-year, AT&T said, reporting its last quarterly numbers as parent of WarnerMedia.
WarnerMedia merged with Discovery April 8 creating Warner Bros. Discovery.
“AT&T has entered a new era,” said CEO John Stankey, with the telco now pared back down to its core businesses in mobility, business wireline and consumer wireline.
AT&T said the subscriber bump was mostly driven by international as well as domestic retail subscriber gains. Domestic subscriber Arpu was 11.24.
Investors will be scrutinizing the numbers after sentiment on streaming leader Netflix turned sour this week following disappointing subscriber numbers and forecasts in its quarterly report Tuesday. AT&T execs are holding a conference call at 8:30 am Et to discuss the numbers.
WarnerMedia operating income fell 32.7 on...
WarnerMedia merged with Discovery April 8 creating Warner Bros. Discovery.
“AT&T has entered a new era,” said CEO John Stankey, with the telco now pared back down to its core businesses in mobility, business wireline and consumer wireline.
AT&T said the subscriber bump was mostly driven by international as well as domestic retail subscriber gains. Domestic subscriber Arpu was 11.24.
Investors will be scrutinizing the numbers after sentiment on streaming leader Netflix turned sour this week following disappointing subscriber numbers and forecasts in its quarterly report Tuesday. AT&T execs are holding a conference call at 8:30 am Et to discuss the numbers.
WarnerMedia operating income fell 32.7 on...
- 4/21/2022
- by Jill Goldsmith
- Deadline Film + TV
AT&T, in its Wall Street swan song as an entertainment entity, reported solid subscriber pickup for HBO Max and HBO for the first quarter of 2022. The now-divested WarnerMedia unit was again a drag on profitability because of continued investments in HBO Max and the launch of CNN+ — reflecting a key reason AT&T spun it off.
WarnerMedia is now part of Warner Bros. Discovery, after AT&T divested the media division and officially merged it with Discovery earlier this month. But for the first three months of the year, WarnerMedia was still part of AT&T.
Worldwide, HBO Max and HBO added 3.0 million subscribers sequentially (and 12.8 million subscribers year over year) to end Q1 with 76.8 million total. That included 48.6 million domestic HBO Max and HBO subscribers, up 1.8 million from the prior quarter. The 3 million quarterly net gain for HBO Max/HBO matched that in the year-earlier period.
The growth for...
WarnerMedia is now part of Warner Bros. Discovery, after AT&T divested the media division and officially merged it with Discovery earlier this month. But for the first three months of the year, WarnerMedia was still part of AT&T.
Worldwide, HBO Max and HBO added 3.0 million subscribers sequentially (and 12.8 million subscribers year over year) to end Q1 with 76.8 million total. That included 48.6 million domestic HBO Max and HBO subscribers, up 1.8 million from the prior quarter. The 3 million quarterly net gain for HBO Max/HBO matched that in the year-earlier period.
The growth for...
- 4/21/2022
- by Todd Spangler
- Variety Film + TV
Warner Bros Discovery CEO David Zaslav and other top execs met with employees in a town hall this morning on the Warner lot in Burbank. The gathering was primarily a restatement of many of the key messages from the nearly year-long buildup to the historic merger, though the exec did briefly touch on looming layoffs, highlighted CNN and how the merger came together.
The roughly hour-long event was the first all-hands meeting since last Friday’s close of the 43 billion merger.
According to a preliminary transcript of the event provided to Deadline, Zaslav declared it “a new day, a bright and shiny day.” After speaking briefly, he introduced Oprah Winfrey, who interviewed Zaslav onstage and took him through an hour-long discussion of mostly high-level observations about the overall portfolio. Asked how the deal came together from the initial talks last February,...
The roughly hour-long event was the first all-hands meeting since last Friday’s close of the 43 billion merger.
According to a preliminary transcript of the event provided to Deadline, Zaslav declared it “a new day, a bright and shiny day.” After speaking briefly, he introduced Oprah Winfrey, who interviewed Zaslav onstage and took him through an hour-long discussion of mostly high-level observations about the overall portfolio. Asked how the deal came together from the initial talks last February,...
- 4/14/2022
- by Dade Hayes and Anthony D'Alessandro
- Deadline Film + TV
AT&T’s WarnerMedia and Discovery Inc. have closed their high-profile 43 million merger into new entity Warner Bros. Discovery, the companies announced on Friday.
“Today’s announcement marks an exciting milestone not just for Warner Bros. Discovery but for our shareholders, our distributors, our advertisers, our creative partners and, most importantly, consumers globally,” said Warner Bros. Discovery CEO David Zaslav in a statement.
“With our collective assets and diversified business model, Warner Bros. Discovery offers the most differentiated and complete portfolio of content across film, television and streaming,” he continued. “We are confident that we can bring more choice to consumers around the globe while fostering creativity and creating value for shareholders. I can’t wait for both teams to come together to make Warner Bros. Discovery the best place for impactful storytelling.”
Discovery stakeholders had approved the deal in mid-March.
The merger will place AT&T’s Warner Bros., CNN,...
“Today’s announcement marks an exciting milestone not just for Warner Bros. Discovery but for our shareholders, our distributors, our advertisers, our creative partners and, most importantly, consumers globally,” said Warner Bros. Discovery CEO David Zaslav in a statement.
“With our collective assets and diversified business model, Warner Bros. Discovery offers the most differentiated and complete portfolio of content across film, television and streaming,” he continued. “We are confident that we can bring more choice to consumers around the globe while fostering creativity and creating value for shareholders. I can’t wait for both teams to come together to make Warner Bros. Discovery the best place for impactful storytelling.”
Discovery stakeholders had approved the deal in mid-March.
The merger will place AT&T’s Warner Bros., CNN,...
- 4/8/2022
- by Diane Haithman
- The Wrap
Discovery and WarnerMedia have closed their long-awaited mega-merger, creating a top-scale media player and streaming contender and ending an ill-fated foray into entertainment by AT&T.
The combination will unite such disparate assets as HBO, CNN and the nearly 100-year-old Warner Bros film studio with unscripted programming juggernauts like Food Network, HGTV and 90 Day Fiancé. It is the most consequential media merger since Disney bought most of 21st Century Fox in 2019, and it leaves the kinds of questions that that mega-deal prompted about comings and goings in the executive ranks.
(For now, the Discovery guard is largely in charge under CEO David Zaslav. Toby Emmerich, Casey Bloys and Channing Dungey, heads of Warner Bros Pictures, HBO and Warner Bros TV, respectively, have gotten votes of confidence.)
Warner Bros Discovery stock is expected to begin full trading Monday under the ticker symbol “Wbd.” It has already begun changing hands on a “when issued” basis.
The combination will unite such disparate assets as HBO, CNN and the nearly 100-year-old Warner Bros film studio with unscripted programming juggernauts like Food Network, HGTV and 90 Day Fiancé. It is the most consequential media merger since Disney bought most of 21st Century Fox in 2019, and it leaves the kinds of questions that that mega-deal prompted about comings and goings in the executive ranks.
(For now, the Discovery guard is largely in charge under CEO David Zaslav. Toby Emmerich, Casey Bloys and Channing Dungey, heads of Warner Bros Pictures, HBO and Warner Bros TV, respectively, have gotten votes of confidence.)
Warner Bros Discovery stock is expected to begin full trading Monday under the ticker symbol “Wbd.” It has already begun changing hands on a “when issued” basis.
- 4/8/2022
- by Dade Hayes
- Deadline Film + TV
As Discovery closes its deal for WarnerMedia, John Stankey, the AT&T chief who oversaw the telecom company’s abandoned foray into the media world, bid farewell to his soon-to-be former colleagues. Stankey led AT&T’s acquisition of DirecTV and Time Warner in 2015 and 2018, before replacing Randall Stephenson as CEO role of AT&T in July 2020.
“My respect and appreciation for those I have worked closely with is enduring, and I will miss continuing to learn and problem solve with you,” Stankey wrote. “I especially will miss marveling at the work behind the scenes to develop remarkable stories and executions that come from your daily passion. Your friendship and support when it wasn’t required will always be remembered.”
The 43 billion acquisition of WarnerMedia is expected to close as early as Friday, with the new company, rechristened Warner Bros. Discovery, open for business first thing Monday morning. That will leave David Zaslav,...
“My respect and appreciation for those I have worked closely with is enduring, and I will miss continuing to learn and problem solve with you,” Stankey wrote. “I especially will miss marveling at the work behind the scenes to develop remarkable stories and executions that come from your daily passion. Your friendship and support when it wasn’t required will always be remembered.”
The 43 billion acquisition of WarnerMedia is expected to close as early as Friday, with the new company, rechristened Warner Bros. Discovery, open for business first thing Monday morning. That will leave David Zaslav,...
- 4/8/2022
- by Brent Lang
- Variety Film + TV
AT&T CEO John Stankey, who decided last spring to spin off WarnerMedia into a 43 billion merged entity with Discovery, has sent a bouquet to WarnerMedia staff as the deal gets set to close.
In a memo to staff (read it in full below), Stankey praised the “remarkable body of work” accrued by WarnerMedia in the nearly three years of AT&T’s ownership.
“You are to be congratulated and commended. The road wasn’t easy or clear,” Stankey wrote. “You established the foundation that can take a proud legacy and storied brands forward for another decade with even broader and more engaging cultural impact than ever before.”
Stankey singled out CEO Jason Kilar for praise. The exec is departing along with most of his direct reports today, ahead of the deal close.
He also became unusually reflective. “Getting to this moment was one of the more difficult decisions of my life.
In a memo to staff (read it in full below), Stankey praised the “remarkable body of work” accrued by WarnerMedia in the nearly three years of AT&T’s ownership.
“You are to be congratulated and commended. The road wasn’t easy or clear,” Stankey wrote. “You established the foundation that can take a proud legacy and storied brands forward for another decade with even broader and more engaging cultural impact than ever before.”
Stankey singled out CEO Jason Kilar for praise. The exec is departing along with most of his direct reports today, ahead of the deal close.
He also became unusually reflective. “Getting to this moment was one of the more difficult decisions of my life.
- 4/8/2022
- by Dade Hayes
- Deadline Film + TV
In September 2018, AT&T summoned the big players from the worlds of media and advertising to a beachside resort in Santa Barbara. The company had finally closed its 85 billion acquisition of Time Warner, after a protracted fight with the Department of Justice, and wanted to celebrate — and to mark its place at the center of the media ecosystem.
The three-day AT&T Relevance Conference, at the lavish Ritz-Carlton Bacara, featured appearances by Derek Jeter and Issa Rae, as well as AT&T CEO Randall Stephenson. The centerpiece of the event was the unveiling of Xandr — the company’s new platform that was designed to revolutionize the ad business by bringing Facebook-style personalization to TV.
In many ways, Xandr was the fulcrum of the AT&T/Time Warner merger. The idea was that AT&T could combine its scale and customer data with Time Warner’s content to supercharge the value of its TV ads.
The three-day AT&T Relevance Conference, at the lavish Ritz-Carlton Bacara, featured appearances by Derek Jeter and Issa Rae, as well as AT&T CEO Randall Stephenson. The centerpiece of the event was the unveiling of Xandr — the company’s new platform that was designed to revolutionize the ad business by bringing Facebook-style personalization to TV.
In many ways, Xandr was the fulcrum of the AT&T/Time Warner merger. The idea was that AT&T could combine its scale and customer data with Time Warner’s content to supercharge the value of its TV ads.
- 4/8/2022
- by Gene Maddaus and Brent Lang
- Variety Film + TV
Ahead of tomorrow’s expected close of the 43 billion WarnerMedia-Discovery merger, the executive leadership structure of the new company has been set.
David Zaslav, CEO of Discovery since 2007, will hold the same title at the combined entity. He has installed J-b Perrette to oversee streaming (in a larger version of the role he had at Discovery), while veteran unscripted programming exec Kathleen Finch will supervise all linear networks. Toby Emmerich, Casey Bloys and Channing Dungey, heads of Warner Bros Pictures, HBO and Warner Bros TV, respectively are all remaining in place. Bruce Campbell, the top distribution exec at Discovery (a crucial function given the billions in carriage fees and complex streaming deals in his purview) has been given a similar job at the new company.
The elevation of Finch, a Scripps Networks Interactive veteran and former network news producer who joined Discovery after the company bought Scripps in 2018, had been widely anticipated.
David Zaslav, CEO of Discovery since 2007, will hold the same title at the combined entity. He has installed J-b Perrette to oversee streaming (in a larger version of the role he had at Discovery), while veteran unscripted programming exec Kathleen Finch will supervise all linear networks. Toby Emmerich, Casey Bloys and Channing Dungey, heads of Warner Bros Pictures, HBO and Warner Bros TV, respectively are all remaining in place. Bruce Campbell, the top distribution exec at Discovery (a crucial function given the billions in carriage fees and complex streaming deals in his purview) has been given a similar job at the new company.
The elevation of Finch, a Scripps Networks Interactive veteran and former network news producer who joined Discovery after the company bought Scripps in 2018, had been widely anticipated.
- 4/7/2022
- by Dade Hayes
- Deadline Film + TV
Exclusive: (Updated With More Details) Less than 24 hours after CEO Jason Kilar, HBO Max boss Andy Forssell and Studio chief Ann Sarnoff were pink slipped from the about to disappear WarnerMedia, more executives were shown the door today.
This includes: CFO Jennifer Biry, Jason Kilar’s right hand corp comm person Christy Haubegger who is also the Chief Inclusion Officer, EVP Chief Human Resources Officer Jim Cummings, EVP Chief Revenue Officer Tony Goncalves, EVP General Counsel Jim Meza, and Chief Technology Officer Richard Tom.
This latest series of exits comes about 48 hours before the newly minted Discovery-WarnerMedia merger with Discovery Boss David Zaslav as CEO. Zaslav is a guy who doesn’t like a lot of fat in his corporate structure, and this morning’s massive firing underscores that. The newly merged company looks to debut on Monday on Wall Street, sources tell us.
Staying on for the short-term...
This includes: CFO Jennifer Biry, Jason Kilar’s right hand corp comm person Christy Haubegger who is also the Chief Inclusion Officer, EVP Chief Human Resources Officer Jim Cummings, EVP Chief Revenue Officer Tony Goncalves, EVP General Counsel Jim Meza, and Chief Technology Officer Richard Tom.
This latest series of exits comes about 48 hours before the newly minted Discovery-WarnerMedia merger with Discovery Boss David Zaslav as CEO. Zaslav is a guy who doesn’t like a lot of fat in his corporate structure, and this morning’s massive firing underscores that. The newly merged company looks to debut on Monday on Wall Street, sources tell us.
Staying on for the short-term...
- 4/6/2022
- by Anthony D'Alessandro and Dominic Patten
- Deadline Film + TV
WarnerMedia CEO Jason Kilar, who announced his pending departure from the company on Tuesday, told TheWrap he knew he would be leaving the leadership post within two weeks of AT&T’s plan to merge WarnerMedia with Discovery in a 43 billion deal that was announced in May.
Kilar, whom a Warner Bros. insider confirmed is likely to exit his post as early as next week when the merger is expected to close, described the situation as something of a reversal of the big fish-small fish metaphor.
“I understood that was going to happen in the transaction, which is effectively a smaller fish consuming a much larger fish,” Kilar said. “The nature of the transaction is the smaller fish and their leadership tends to come in and take the CEO. Obviously, I understood that was a part of the process, so there was not too much thought or dwelling on the topic.
Kilar, whom a Warner Bros. insider confirmed is likely to exit his post as early as next week when the merger is expected to close, described the situation as something of a reversal of the big fish-small fish metaphor.
“I understood that was going to happen in the transaction, which is effectively a smaller fish consuming a much larger fish,” Kilar said. “The nature of the transaction is the smaller fish and their leadership tends to come in and take the CEO. Obviously, I understood that was a part of the process, so there was not too much thought or dwelling on the topic.
- 4/5/2022
- by Diane Haithman
- The Wrap
WarnerMedia CEO Jason Kilar, who is stepping down this week before the company’s merger with Discovery closes, takes pride in being “first over the wall” with a day-and-date streaming movie strategy.
The company stunned the industry at the end of 2020 by announcing the entire 2021 Warner Bros slate would stream on HBO Max at the same time it hit theaters. Rival companies like Disney and NBCUniversal took a more case-by-case approach despite widespread movie theater closures and other disruptions due to Covid.
“History is already looking at it quite favorably,” Kilar said in an interview with Deadline. “It worked. We were the first over the wall.” he said.
Discovery and WarnerMedia are expected to close their 43 billion merger as soon as Friday, completing a spinoff of the entertainment company less than three years after it was acquired by AT&T.
Proof of the effectiveness of the streaming initiative, which bore the internal nickname Project Popcorn,...
The company stunned the industry at the end of 2020 by announcing the entire 2021 Warner Bros slate would stream on HBO Max at the same time it hit theaters. Rival companies like Disney and NBCUniversal took a more case-by-case approach despite widespread movie theater closures and other disruptions due to Covid.
“History is already looking at it quite favorably,” Kilar said in an interview with Deadline. “It worked. We were the first over the wall.” he said.
Discovery and WarnerMedia are expected to close their 43 billion merger as soon as Friday, completing a spinoff of the entertainment company less than three years after it was acquired by AT&T.
Proof of the effectiveness of the streaming initiative, which bore the internal nickname Project Popcorn,...
- 4/5/2022
- by Dade Hayes
- Deadline Film + TV
WarnerMedia CEO Jason Kilar announced Tuesday he is stepping down ahead of the completion of Discovery’s acquisition of the currently AT&T-owned company, which is expected to occur April 11.
While Kilar’s exit from WarnerMedia upon the completion of the merger had been expected ever since the planned transaction was first announced by AT&T and Discovery last spring, this is marks the exec’s formalization of that plan as Discovery chief David Zaslav prepares to run the combined company, Warner Bros. Discovery.
“With the pending transaction with Discovery nearing close, now is the right time to share with each of you that I will be departing this amazing company,” Kilar said in a memo sent to WarnerMedia staff. “There are many feelings one could have in a moment like this, but for me there are none bigger, or more lasting, than the feelings of gratitude and love that I have for this team,...
While Kilar’s exit from WarnerMedia upon the completion of the merger had been expected ever since the planned transaction was first announced by AT&T and Discovery last spring, this is marks the exec’s formalization of that plan as Discovery chief David Zaslav prepares to run the combined company, Warner Bros. Discovery.
“With the pending transaction with Discovery nearing close, now is the right time to share with each of you that I will be departing this amazing company,” Kilar said in a memo sent to WarnerMedia staff. “There are many feelings one could have in a moment like this, but for me there are none bigger, or more lasting, than the feelings of gratitude and love that I have for this team,...
- 4/5/2022
- by Jennifer Maas
- Variety Film + TV
AT&T’s chief executive John Stankey had a $24.8 million salary in 2021, as compared to his $21 million pay the year prior and $22.5 million earnings in 2019, per the telecommunications giant’s Securities and Exchange Commission filing made available Tuesday.
While the CEO made a base salary of $2.4 million in 2021 (slightly higher than his $2.05 million in 2020), he received stock awards valued at $13.42 million. However, Stankey’s non-equity incentive plan more than doubled from $3.25 million to $6.88 million from 2020 to 2021.
According to the filing, CFO Pascal Desroches received $11.7 million overall compensation in 2021, his first year in the position. AT&T’s executive chairman, Randall Stephenson, who is now retired, was given a total payout of $16.3 million in 2021, compared with $29.1 million in 2020.
AT&T, which is looking to spin off WarnerMedia in a $43 billion deal to merge its media properties with Discovery, did not disclose the last year’s overall pay package for WarnerMedia CEO Jason Kilar.
While the CEO made a base salary of $2.4 million in 2021 (slightly higher than his $2.05 million in 2020), he received stock awards valued at $13.42 million. However, Stankey’s non-equity incentive plan more than doubled from $3.25 million to $6.88 million from 2020 to 2021.
According to the filing, CFO Pascal Desroches received $11.7 million overall compensation in 2021, his first year in the position. AT&T’s executive chairman, Randall Stephenson, who is now retired, was given a total payout of $16.3 million in 2021, compared with $29.1 million in 2020.
AT&T, which is looking to spin off WarnerMedia in a $43 billion deal to merge its media properties with Discovery, did not disclose the last year’s overall pay package for WarnerMedia CEO Jason Kilar.
- 3/22/2022
- by Natalie Oganesyan
- The Wrap
AT&T CEO John Stankey’s pay for 2021 rose 18% over the previous year to $24.8 million, per the company’s SEC filing Tuesday.
His base salary for the year, his first full year as CEO, was $2.4 million, with a non-equity incentive plan compensation of $6.88 million. His stock awards totaled $13.42 million, with “other” compensation listed at $643,669.
In 2020, Stankey made $21 million and the year before that he was paid $22.5 million.
AT&T did not disclose the 2021 pay for WarnerMedia CEO Jason Kilar among its other top executives. AT&T is in the process of spinning off WarnerMedia to Discovery, Inc., a transaction that has received regulatory approval from both companies’ boards, the U.S. government, the European Commission and Discovery’s shareholders. The deal is expected to close early next month.
Meanwhile, retired executive chairman Randall Stephenson was paid $16.3 million last year versus $29 million in 2020, when he was still CEO of AT&T for a portion of the year.
His base salary for the year, his first full year as CEO, was $2.4 million, with a non-equity incentive plan compensation of $6.88 million. His stock awards totaled $13.42 million, with “other” compensation listed at $643,669.
In 2020, Stankey made $21 million and the year before that he was paid $22.5 million.
AT&T did not disclose the 2021 pay for WarnerMedia CEO Jason Kilar among its other top executives. AT&T is in the process of spinning off WarnerMedia to Discovery, Inc., a transaction that has received regulatory approval from both companies’ boards, the U.S. government, the European Commission and Discovery’s shareholders. The deal is expected to close early next month.
Meanwhile, retired executive chairman Randall Stephenson was paid $16.3 million last year versus $29 million in 2020, when he was still CEO of AT&T for a portion of the year.
- 3/22/2022
- by Jennifer Maas
- Variety Film + TV
AT&T chief executive John Stankey’s compensation totaled $24.8 million last year, up from $21 million the year earlier. According to a proxy statement filed with the SEC, retired CEO Randall Stephenson made $16.3 million in 2021 (down from $29 million).
Stephenson stepped down as CEO after 13 years at the helm in July of 2020 and continued as executive chairman through Jan. of 2021. Proxies usually include pay packages for a company’s five highest paid executives. AT&T listed seven including Stephenson. “AT&T is reporting a seventh Neo [named executive officer] this year to account for a retired Executive Officer who would have been among the most highly compensated group if working as an active Executive Officer at the end of the year,” the filing said.
When Stephenson stepped down Jan. 19 of 2021, AT&T said it had entered a one-year consulting contract with him for $1 million. Today’s proxy valued the consulting agreement at an $12 million. which it...
Stephenson stepped down as CEO after 13 years at the helm in July of 2020 and continued as executive chairman through Jan. of 2021. Proxies usually include pay packages for a company’s five highest paid executives. AT&T listed seven including Stephenson. “AT&T is reporting a seventh Neo [named executive officer] this year to account for a retired Executive Officer who would have been among the most highly compensated group if working as an active Executive Officer at the end of the year,” the filing said.
When Stephenson stepped down Jan. 19 of 2021, AT&T said it had entered a one-year consulting contract with him for $1 million. Today’s proxy valued the consulting agreement at an $12 million. which it...
- 3/22/2022
- by Jill Goldsmith
- Deadline Film + TV
Former PricewaterhouseCoopers CEO Samuel Di Piazza Jr. on Tuesday was named chairman of the board of Warner Bros. Discovery. Di Piazza was one of seven picks for the 13-member board by AT&T, which is spinning off WarnerMedia ahead of a merger with Discovery.
As part of the merger deal, Discovery Inc. will name six of its own directors to the board — they are expected to include current Discovery CEO David Zaslav, who will retain that title in the newly merged company.
In addition to Di Piazza, AT&T named former BET Networks chair and CEO Debra L. Lee; Li Haslett Chen, founder and CEO of tech platform Narrativ; Richard Fisher, senior adviser to Barclays Plc; Sixth Street Partners senior adviser Fazal Merchant; and former Macy’s CFO Paula Price; and Redpoint Ventures founding partner Geoffrey Yang.
“We are delighted to have assembled a diverse slate of world-class directors for the Warner Bros.
As part of the merger deal, Discovery Inc. will name six of its own directors to the board — they are expected to include current Discovery CEO David Zaslav, who will retain that title in the newly merged company.
In addition to Di Piazza, AT&T named former BET Networks chair and CEO Debra L. Lee; Li Haslett Chen, founder and CEO of tech platform Narrativ; Richard Fisher, senior adviser to Barclays Plc; Sixth Street Partners senior adviser Fazal Merchant; and former Macy’s CFO Paula Price; and Redpoint Ventures founding partner Geoffrey Yang.
“We are delighted to have assembled a diverse slate of world-class directors for the Warner Bros.
- 3/15/2022
- by Thom Geier
- The Wrap
Samuel Di Piazza Jr. will serve as the chairman of Warner Bros. Discovery following the close of the deal to combine the two media companies, AT&T announced.
Di Piazza, previously global CEO of PricewaterhouseCoopers from 2002 until his retirement in 2009, spent 36 years working at PwC. He was among the seven board members of the combined WarnerMedia-Discovery that AT&T announced Tuesday. The Warner Bros. Discovery board of directors initially will comprise 13 members, seven appointed by AT&T and six by Discovery.
Following the approval of the Discovery-WarnerMedia merger by Discovery shareholders last week, the $43 billion deal is expected to close early in the second quarter.
The seven directors appointed by AT&T are: Dipiazza; Li Haslett Chen, founder and CEO of commerce and payments platform Narrativ; Richard Fisher, senior adviser to Barclays and former president/CEO of the Federal Reserve Bank of Dallas; Debra Lee, previously chair and CEO of BET Networks; Fazal Merchant,...
Di Piazza, previously global CEO of PricewaterhouseCoopers from 2002 until his retirement in 2009, spent 36 years working at PwC. He was among the seven board members of the combined WarnerMedia-Discovery that AT&T announced Tuesday. The Warner Bros. Discovery board of directors initially will comprise 13 members, seven appointed by AT&T and six by Discovery.
Following the approval of the Discovery-WarnerMedia merger by Discovery shareholders last week, the $43 billion deal is expected to close early in the second quarter.
The seven directors appointed by AT&T are: Dipiazza; Li Haslett Chen, founder and CEO of commerce and payments platform Narrativ; Richard Fisher, senior adviser to Barclays and former president/CEO of the Federal Reserve Bank of Dallas; Debra Lee, previously chair and CEO of BET Networks; Fazal Merchant,...
- 3/15/2022
- by Todd Spangler
- Variety Film + TV
Ta-da! Discovery just announced that its stockholders have approved its merger with AT&T’s WarnerMedia to create Warner Bros. Discovery, “a premier, global entertainment company” — marking the completion of one of the few remaining closing conditions for the merger.
The transaction will bring together WarnerMedia’s entertainment, sports and news assets with Discovery’s leading nonfiction and international entertainment and sports businesses. Discovery CEO Davis Zaslav will lead the combined company. The two companies will take until April to wrap up the complex deal but meanwhile discussions can now accelerate on the management structure and organization of the business, including if and how its streaming services — including the new CNN+ launching March 29 — will be integrated.
The ‘yes’ vote was not a surprise since major Discovery stakeholders John Malone and Advance/Newhouse had both previously agreed to back the deal.
The $43-billion combination, which will create a massive new player on the media and entertainment landscape,...
The transaction will bring together WarnerMedia’s entertainment, sports and news assets with Discovery’s leading nonfiction and international entertainment and sports businesses. Discovery CEO Davis Zaslav will lead the combined company. The two companies will take until April to wrap up the complex deal but meanwhile discussions can now accelerate on the management structure and organization of the business, including if and how its streaming services — including the new CNN+ launching March 29 — will be integrated.
The ‘yes’ vote was not a surprise since major Discovery stakeholders John Malone and Advance/Newhouse had both previously agreed to back the deal.
The $43-billion combination, which will create a massive new player on the media and entertainment landscape,...
- 3/11/2022
- by Jill Goldsmith
- Deadline Film + TV
Discovery investors voted in approval of the company’s $43 billion acquisition of WarnerMedia from AT&T to create Warner Bros. Discovery during a special meeting of stockholders on Friday, marking one of the final formal steps before the transaction can close.
The deal, a spinoff of WarnerMedia from AT&T, is expected to be completed early in Q2, with insiders telling Variety the estimated date is between April 11-28. The merger has already received approval from the U.S. Department of Justice and the boards of directors of both AT&T and Discovery.
WarnerMedia owns HBO, HBO Max, CNN, Warner Bros., DC Films, New Line Cinema, TBS, TNT, TruTV, Cartoon Network/Adult Swim, Turner Sports and Rooster Teeth, among other brands, and is part owner of the CW Network along with Paramount. Discovery is the parent of Discovery Plus, Discovery Channel, HGTV, Food Network, TLC, Investigation Discovery, Travel Channel, Turbo/Velocity, Animal Planet,...
The deal, a spinoff of WarnerMedia from AT&T, is expected to be completed early in Q2, with insiders telling Variety the estimated date is between April 11-28. The merger has already received approval from the U.S. Department of Justice and the boards of directors of both AT&T and Discovery.
WarnerMedia owns HBO, HBO Max, CNN, Warner Bros., DC Films, New Line Cinema, TBS, TNT, TruTV, Cartoon Network/Adult Swim, Turner Sports and Rooster Teeth, among other brands, and is part owner of the CW Network along with Paramount. Discovery is the parent of Discovery Plus, Discovery Channel, HGTV, Food Network, TLC, Investigation Discovery, Travel Channel, Turbo/Velocity, Animal Planet,...
- 3/11/2022
- by Jennifer Maas
- Variety Film + TV
John Stankey, who played a central role in AT&T’s push into entertainment before shedding of those money-losing assets as CEO, signaled a new day in his opening remarks at the company’s investor day.
“Today, we’re focused on looking forward,” he said. “We’re coming up soon on a big transition at AT&T: a more focused company, a more focused management team, a commitment to being the best with our resources aligned with that goal.”
For the last 18 months, “we’ve been positioning ourselves for this reality,” Stankey added, alluding to the spinoff of DirecTV and the imminent spin of WarnerMedia into a merged entity with Discovery. The $43 billion Warner-Discovery deal is expected to close next month. Last year, AT&T completed the spin of DirecTV into a stand-alone unit 30%-owned by private equity firm Tpg.
Those ill-starred deals ended an unsuccessful foray into pay-tv and entertainment,...
“Today, we’re focused on looking forward,” he said. “We’re coming up soon on a big transition at AT&T: a more focused company, a more focused management team, a commitment to being the best with our resources aligned with that goal.”
For the last 18 months, “we’ve been positioning ourselves for this reality,” Stankey added, alluding to the spinoff of DirecTV and the imminent spin of WarnerMedia into a merged entity with Discovery. The $43 billion Warner-Discovery deal is expected to close next month. Last year, AT&T completed the spin of DirecTV into a stand-alone unit 30%-owned by private equity firm Tpg.
Those ill-starred deals ended an unsuccessful foray into pay-tv and entertainment,...
- 3/11/2022
- by Dade Hayes
- Deadline Film + TV
WarnerMedia has been owned by telco giant AT&T for less than four years and it will soon have a new parent company — likely by the end of next month.
Discovery’s shareholder vote on the acquisition of WarnerMedia is set for today during a special meeting of stockholders at 10 a.m. Et. The deal is expected to get an easy thumbs-up given the approval already bestowed by Discovery’s oldest and most influential holders, investor John Malone and Advance/Newhouse Co. Both agreed to convert long-held preferred shares into common shares in order to smooth the path for the spinoff combination.
As Discovery conducts a mostly ceremonial poll of shareholders, AT&T is signaling the start of a new chapter. The telco giant will conduct a virtual investor conference at the exact same time as the vote to unveil its post-spinoff strategy. The push into entertainment was initiated by the...
Discovery’s shareholder vote on the acquisition of WarnerMedia is set for today during a special meeting of stockholders at 10 a.m. Et. The deal is expected to get an easy thumbs-up given the approval already bestowed by Discovery’s oldest and most influential holders, investor John Malone and Advance/Newhouse Co. Both agreed to convert long-held preferred shares into common shares in order to smooth the path for the spinoff combination.
As Discovery conducts a mostly ceremonial poll of shareholders, AT&T is signaling the start of a new chapter. The telco giant will conduct a virtual investor conference at the exact same time as the vote to unveil its post-spinoff strategy. The push into entertainment was initiated by the...
- 3/11/2022
- by Jennifer Maas
- Variety Film + TV
Brent Lang has been promoted to Executive Editor of Variety.
In his new role, Lang will help guide the venerable showbiz brand’s editorial operations across digital and print platforms. He will continue to oversee Variety’s film, media and theater coverage, and he serves as leader of the New York bureau.
“There’s an infinite number of words I would use to describe Brent Lang and my admiration for his breadth of genius, talent and skills as a journalist,” said Claudia Eller, Variety Editor-in-Chief. “He is also one of the most trustworthy, thoughtful and collegial people I’ve ever worked with and it’s a joy to watch him continue to flourish.”
Lang most recently served as Executive Editor of Film and Media and New York Bureau Chief. He joined Variety in 2014 as a senior film reporter. Lang will assume his new role this summer when Variety’s current Executive Editor,...
In his new role, Lang will help guide the venerable showbiz brand’s editorial operations across digital and print platforms. He will continue to oversee Variety’s film, media and theater coverage, and he serves as leader of the New York bureau.
“There’s an infinite number of words I would use to describe Brent Lang and my admiration for his breadth of genius, talent and skills as a journalist,” said Claudia Eller, Variety Editor-in-Chief. “He is also one of the most trustworthy, thoughtful and collegial people I’ve ever worked with and it’s a joy to watch him continue to flourish.”
Lang most recently served as Executive Editor of Film and Media and New York Bureau Chief. He joined Variety in 2014 as a senior film reporter. Lang will assume his new role this summer when Variety’s current Executive Editor,...
- 2/15/2022
- by William Earl
- Variety Film + TV
The shape of the new Warner Bros. Discovery conglomerate is emerging as Discovery is finally rolling up its sleeves to take charge ahead of an expected takeover in April, about two months sooner than originally planned. On the priorities list? Streamlining systems and rebuilding company culture. “The company has been siloed for 30 years,” one insider with knowledge of the company told me. “No one has time for that anymore. The turf wars gotta go. One team. One mission.” According to my intel, what that means is this: WarnerMedia CEO Jason Kilar, who was promoted just two years ago after John Stankey took over as CEO of current Warner parent AT&T, will definitively be leaving along with his team — to be replaced by Discovery CEO Davis Zaslav and his top executives. While this was previously presumed by many, insiders tell me that this is now expected as a done deal. Also,...
- 2/15/2022
- by Sharon Waxman
- The Wrap
The merger of AT&T’s WarnerMedia and Discovery has gotten the go-ahead from U.S. regulators, the companies announced Wednesday, clearing a last major hurdle for the $43-billion deal that will create a new media and entertainment giant called Warner Bros. Discovery.
Basically, regulators let the waiting period expire without objection. It means Discovery execs might be a bit more forthcoming on at least some details of the merged company during a call following earnings skedded for the morning of Feb. 24. Wall Street and Hollywood alike have been eager to learn the particulars of the combined entity’s structure and leadership but Discovery CEO David Zaslav legally has had to stay mostly mum until the deal closes.
AT&T CEO John Stankey had indicated on the telco’s recent earnings call with analysts that approval could be coming sooner than expected — but this is even faster than anticipated and a...
Basically, regulators let the waiting period expire without objection. It means Discovery execs might be a bit more forthcoming on at least some details of the merged company during a call following earnings skedded for the morning of Feb. 24. Wall Street and Hollywood alike have been eager to learn the particulars of the combined entity’s structure and leadership but Discovery CEO David Zaslav legally has had to stay mostly mum until the deal closes.
AT&T CEO John Stankey had indicated on the telco’s recent earnings call with analysts that approval could be coming sooner than expected — but this is even faster than anticipated and a...
- 2/9/2022
- by Jill Goldsmith
- Deadline Film + TV
When Jeff Zucker abruptly resigned as CNN president on Wednesday over his ongoing personal relationship with the network’s chief marketing officer, Allison Gollust, the company made a point of emphasizing that Gollust herself would remain on the job. Indeed, John Stankey, CEO of CNN parent company AT&T, on Friday sidestepped a question from CNBC’s “Squawk Box” on Gollust’s future. “Allison, her circumstances are different, and I don’t want to get involved in discussing her situation,” he said. Still, many insiders told TheWrap they can’t see how Gollust — who served for nearly two decades as one of Zucker’s main lieutenants and whom NBC News reported was at the top of an internal list to potentially replace Zucker should he retire — can continue to play a major role in the network going forward. “I can’t imagine it is tenable,” one former CNN senior executive told TheWrap,...
- 2/4/2022
- by Lindsey Ellefson
- The Wrap
AT&T CEO John Stankey and Discovery CEO David Zaslav generally sidestepped questions about the exit of CNN boss Jeff Zucker amid dismay among the cable network’s on air talent and staffers over how the situation was handled.
“Jeff resigned and the decision to resign was Jeff’s decision and it’s an unfortunate set of circumstances,” Stankey told CNBC in an interview in Pebble Beach, CA.
According to sources familiar with what happened, WarnerMedia CEO Jason Kilar, Zucker’s boss, made it clear that he either had to resign or would be terminated for failing to disclose a relationship with Allison Gollust, CNN’s marketing chief.
Yet there also has been ample other speculation over what led to Zucker’s exit.
When Joe Kernen pressed Stankey on whether there were “other things in play for whether he was out anyway,” citing John Malone’s comments about the network, Stankey said,...
“Jeff resigned and the decision to resign was Jeff’s decision and it’s an unfortunate set of circumstances,” Stankey told CNBC in an interview in Pebble Beach, CA.
According to sources familiar with what happened, WarnerMedia CEO Jason Kilar, Zucker’s boss, made it clear that he either had to resign or would be terminated for failing to disclose a relationship with Allison Gollust, CNN’s marketing chief.
Yet there also has been ample other speculation over what led to Zucker’s exit.
When Joe Kernen pressed Stankey on whether there were “other things in play for whether he was out anyway,” citing John Malone’s comments about the network, Stankey said,...
- 2/4/2022
- by Ted Johnson
- Deadline Film + TV
AT&T CEO John Stankey and DIscovery CEO David Zaslav appeared in back-to-back interviews on CNBC on Friday, where each faced questions about the abrupt ouster of CNN President Jeff Zucker this week.
Stankey, whose company is spinning off CNN parent Warner Media in a merger with Discovery expected to close in the second quarter, sidestepped any role he might have played in Zucker’s exit, which he called “unfortunate.”
“Jeff resigned, and the decision to resign was Jeff’s decision. It was an unfortunate set of circumstances,” Stankey told CNBC’s “Squawk Box.” “I know that Jeff had a tremendous following within CNN, and there is a lot of people who are incredibly loyal and supportive of him, and that makes it hard for those individuals. However, when I step back and think about what Jeff has been able to accomplish over nine years, you can’t take that away from him.
Stankey, whose company is spinning off CNN parent Warner Media in a merger with Discovery expected to close in the second quarter, sidestepped any role he might have played in Zucker’s exit, which he called “unfortunate.”
“Jeff resigned, and the decision to resign was Jeff’s decision. It was an unfortunate set of circumstances,” Stankey told CNBC’s “Squawk Box.” “I know that Jeff had a tremendous following within CNN, and there is a lot of people who are incredibly loyal and supportive of him, and that makes it hard for those individuals. However, when I step back and think about what Jeff has been able to accomplish over nine years, you can’t take that away from him.
- 2/4/2022
- by Lindsey Ellefson
- The Wrap
Jeff Zucker resigned Wednesday as president of CNN, launching a day’s worth of followup headlines as details emerged. One of those details, reported by CNN itself, is that Zucker didn’t want to make such a sudden departure — but was facing a firing by WarnerMedia CEO Jason Kilar and AT&T boss John Stankey if he didn’t.
“Zucker spoke with some of CNN’s top executives on Wednesday morning, shortly before he announced his departure. He indicated that he would have liked to stay on for a short period, to help with a smooth transition, but WarnerMedia wanted otherwise,” revealed CNN’s reporting on its boss’s departure. “According to two people involved in the matter, Zucker was facing termination if he did not resign.”
The “smooth transition” refers to the upcoming merger between CNN’s parent company, WarnerMedia, and Discovery. According to Puck News, discussion of Zucker’s relationship with a top executive,...
“Zucker spoke with some of CNN’s top executives on Wednesday morning, shortly before he announced his departure. He indicated that he would have liked to stay on for a short period, to help with a smooth transition, but WarnerMedia wanted otherwise,” revealed CNN’s reporting on its boss’s departure. “According to two people involved in the matter, Zucker was facing termination if he did not resign.”
The “smooth transition” refers to the upcoming merger between CNN’s parent company, WarnerMedia, and Discovery. According to Puck News, discussion of Zucker’s relationship with a top executive,...
- 2/3/2022
- by Lindsey Ellefson
- The Wrap
Jeff Zucker’s surprise resignation from CNN on Wednesday quickly triggered puzzled questions over just what led to his ouster after revelations of his relationship with Allison Gollust, EVP and Chief Marketing Officer for CNN Worldwide.
One CNN anchor, Alisyn Camerota, even said on air that it “feels wrong” that two consenting adults, who are both executives, could not have a private relationship.
But the relationship itself is not what triggered WarnerMedia CEO Jason Kilar’s call to Zucker in recent days informing him that he had to exit or face termination, we’ve learned. Rather, it was Zucker’s failure to disclose the relationship, in violation of WarnerMedia policy. Mere days after Kilar was informed of Zucker’s omissions by outside lawyers probing the now-fired Chris Cuomo’s stint at CNN, the exec called Zucker and told him, “You can’t remain here.”
The stern and brief exchange between...
One CNN anchor, Alisyn Camerota, even said on air that it “feels wrong” that two consenting adults, who are both executives, could not have a private relationship.
But the relationship itself is not what triggered WarnerMedia CEO Jason Kilar’s call to Zucker in recent days informing him that he had to exit or face termination, we’ve learned. Rather, it was Zucker’s failure to disclose the relationship, in violation of WarnerMedia policy. Mere days after Kilar was informed of Zucker’s omissions by outside lawyers probing the now-fired Chris Cuomo’s stint at CNN, the exec called Zucker and told him, “You can’t remain here.”
The stern and brief exchange between...
- 2/3/2022
- by Dominic Patten and Ted Johnson
- Deadline Film + TV
Shares in both AT&T and Discovery opened down roughly 5% apiece on Tuesday morning, following news that AT&T would indeed spin off WarnerMedia ahead of closing its $43 billion deal with Discovery, Inc.
There was previously a chance the two companies would execute a split instead to complete the mega-merger announced last year.
In addition to that decision, AT&T’s board of directors approved an annual dividend of $1.11 per AT&T share.
“In evaluating the form of distribution, we were guided by one objective — executing the transaction in the most seamless manner possible to support long-term value generation,” AT&T CEO John Stankey said Tuesday morning. “We are confident the spin-off achieves that objective because it’s simple, efficient and results in AT&T shareholders owning shares of both companies, each of which will have the ability to drive better returns in a manner consistent with their respective market opportunities.
There was previously a chance the two companies would execute a split instead to complete the mega-merger announced last year.
In addition to that decision, AT&T’s board of directors approved an annual dividend of $1.11 per AT&T share.
“In evaluating the form of distribution, we were guided by one objective — executing the transaction in the most seamless manner possible to support long-term value generation,” AT&T CEO John Stankey said Tuesday morning. “We are confident the spin-off achieves that objective because it’s simple, efficient and results in AT&T shareholders owning shares of both companies, each of which will have the ability to drive better returns in a manner consistent with their respective market opportunities.
- 2/1/2022
- by Tony Maglio
- The Wrap
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