Warner Bros. Discovery Sees Q2 Loss on Content Expenses, Merger Costs

EXCLUSIVE: Warner Bros is going all in on The Batman director Matt Reeves and his 6th & Idaho production company. He has become the first filmmaker given an overall first look film deal since Warner Bros Pictures Group Co-Chairs/CEOs Michael De Luca and Pamela Abdy were hired by Warner Bros. Discovery chief David Zaslav to steer the film division. In addition, Reeves has re-upped with the Warner Bros. Television Group and Chairman Channing Dungey, where he is also working on The Batman spinoff series The Penguin with Colin Farrell.

Another day, another list of programming that was originally set to arrive on HBO Max but has been prematurely canceled. It’s happening so often, that it’s hard to feign surprise, right? Well, this time the list of cuts includes an animated project that superhero fans had been dying to see— “Batman: Caped Crusader.” According to Variety, HBO Max is continuing to cut children’s and family programming as the streaming service seemingly moves into a new phase of its existence before it combines with Discovery+ in 2023.

Gogglebox star Izzi Warner, 29, has been left buzzing after a Steps singer called her "gorgeous" on Instagram. Former Steps member Lisa Scott-Lee, 46, responded to a post by Izzi and complimented the Gogglebox cast member.

EXCLUSIVE: Two months into their run as Warner Bros Pictures Group Co-Chairs and CEOs, Michael De Luca and Pamela Abdy, have hammered out a multi-year deal to handle the international distribution of MGM’s theatrical titles, commencing with Luca Guadagnino’s Bones and All in November and continuing with the 2023 slate and beyond; the second title under the pact being Creed III in March.

The deal, which will see Warner receive a new stream of incremental revenue through distribution fees, comes just two months after Pamela Abdy and Michael De Luca left their position as heads of MGM to become co-chairs and CEOs of Warner Bros. Motion Picture Group.

Rebecca Rubin Film and Media ReporterMGM has parted ways with Universal Pictures for international film distribution.In a joint press release, MGM has announced that Warner Bros. will distribute its upcoming movies overseas. However, the arrangement does not include “Bond 26,” the next chapter in the James Bond series, as well as director Chinonye Chukwu’s historical drama “Till” (set for Oct.

report by Variety, after The Post broke the news that they’re pulling the plug on her starring role last week. Ideas allegedly include having Grace play the role of the teenage vigilante Barbara Gordon in a future DC Comics project, or “at least” offer her starring role in another Warner Bros. production.The Post has reached out to Warner Bros.

Just a few hours shy of the deadline set in late July by hundreds of top female writers and showrunners on abortion safety protocols, most of Hollywood’s biggest studios and streamers today opted to side step specifics.

Warner Bros. Discovery’s European operation continues to take shape, with Hannes Heyelmann today unveiling his German management team. The shake-up sees the departure of Discovery Communications Deutschland Deputy Managing Director Alberto Horta.

Kevin Smith has weighed in on Warner Bros. Discovery scrapping the  movie starring Leslie Grace. The move made by the conglomerate has caused shockwaves in the industry and Smith, who is a comic book aficionado and writer, shared his thoughts on his YouTube series Hollywood Babble-On.

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.

Warner Bros. Discovery Friday detailed its charges for the second quarter that included a combined $825 million hit on the content side, including $496 million for content impairment and $329 million for content development write-downs, as well as $208 million for employee terminations for the three months ended June.

Cynthia Littleton Business EditorWarner Bros. Discovery shares were battered Friday on the heels of its after-market second-quarter earnings report on Thursday that revealed the depth of the financial and operational pressures that the newly enlarged conglomerate is facing.WB Discovery shares were down more than 17% at midday to the $14.50 range.

Warner Bros. Discovery is doubling down on HBO and HBO Max.

Kids and animated content are set for a broad swath of cuts across Warner Bros. Discovery.

Warner Bros. Discovery expects to launch its combined HBO Max/Discovery+ streaming service in the U.S. next summer.

In a complete about-face from the business strategy employed by former WarnerMedia CEO Jason Kilar, Warner Bros. Discovery boss David Zaslav made it firm today that the new merged entertainment conglomerate “will fully embrace theatrical.” Period.

The Flash” movie starring Ezra Miller is still a go, despite the actor’s numerous scandals this year.“We have seen ‘The Flash,’ ‘Black Adam’ and ‘Shazam 2,'” said Warner Bros. Discovery CEO David Zaslav during the company’s Q2 earnings call on Thursday. “We are very excited about them.

Newly minted Warner Bros. Discovery posted hefty losses and $9.8 billion in revenue at its landmark first earnings report since Warner Media and Discovery formally tied the knot.