Well, “Dune” fans, there’s some good news and some bad news. Deadline reports that Warner Bros.
17.06.2022 - 00:03 / variety.com
Todd Spangler NY Digital EditorWarner Bros. Discovery’s brutal year in the stock market hit a new bottom, as shares of the media conglomerate sank 8.1% Thursday — taking a bigger punch than peers.With the stock drop Thursday, to close at $13.65/share, WBD’s market cap stands at about $33.1 billion. That’s well under its current debt load of some $55 billion.
The share price is down 45% since WBD began trading April 11 following the close of Discovery’s deal for WarnerMedia.On Thursday, JPMorgan downgraded Warner Bros. Discovery stock from “overweight” to “neutral,” citing uncertainty about its direct-to-consumer streaming strategy. With the streaming wars in full throttle, “coming to the party late is a challenge for any DTC provider but particularly onerous” for WBD, which may not be able to be competitive in a “cluttered marketplace,” JPMorgan analyst Alexia Quadrani wrote in a research note.
Overall, major U.S. market indexes were down again Thursday. That came after Wednesday’s brief rally following the Federal Reserve’s move to raise its key interest rate by 0.75 percentage point, the biggest increase since 1994, in a bid to control inflation.The Dow Jones Industrial Average fell 2.42% Thursday, declining 741.46 points to 29,927.07 — dropping below 30,000 for the first time since January 2021.
The S&P 500 declined 3.25% and the Nasdaq Composite index was off 4.1%. Other media companies notching losses were Disney (-1.85%), Paramount (-5.7%) and Comcast (-5.6%), while Netflix declined 3.75%.With respect to Warner Bros. Discovery, investors may be concerned about its relatively high leverage ratio as interest rates are rising.
Well, “Dune” fans, there’s some good news and some bad news. Deadline reports that Warner Bros.
Patrick Frater Asia Bureau ChiefWarner Bros. Discovery has partnered with energy company Shell for an adrenaline-filled show, “Dare to Ride,” that has begun airing on Discovery in Southeast Asia and India. “Dare to Ride” showcases some of Asia’s most accomplished riders as they attempt to conquer the region’s most iconic routes with just their bikes, their wits, and their technical knowhow.
Warner Bros. Discovery has revealed its lineup for this year’s San Diego Comic-Con which runs July 21-24.
K.J. Yossman Warner Bros.
Our Yorkshire Farm's Amanda Owen has detailed her "loneliness" since her shock split from her husband Clive, in her new book. The former couple, who have found fame on their Channel 5 show Our Yorkshire Farm, announced their separation earlier this month after 22 years of marriage and nine children.
Robin Thede is staying in the Warner Bros. Discovery family.
The short story is narrated by one-half of a pair of bank-robbing twin sisters, who considers herself the face of the operation. But it is her sister Maggie who gets the heists done with her superpowers, which include telekinesis, super strength and invincibility.
Warner Bros. has won a bidding war over the heist pic The Sundance Kid Might Have Some Regrets, which Zoë Kravitz (The Batman) is attached to produce and star in, Deadline can confirm.
EXCLUSIVE: Jeffrey Schlesinger, who was previously President, Warner Bros Worldwide Television Distribution, has invested in and joined the advisory board of online sales platform Vuulr.
Jazz Tangcay Artisans EditorWarnerMedia Discovery Access has announced a new program seeking aspiring music supervisors from historically underrepresented communities.Titled the Warner Bros. Discovery Access Music Supervisor Program (naturally enough), it will provide access to training and experience within the world of TV and film music supervision.
K.J. Yossman Warner Bros Discovery Sports (WBDS) is set to air the Wimbledon tennis championships live across 11 European countries.“The Championships from Wimbledon” will air from Monday, June 27 on discovery+, Eurosport, Eurosport App and Eurosport.com in Sweden, Norway, Finland, Iceland, Belgium, the Netherlands, Romania, Hungary, Czech Republic, Slovakia and Bulgaria.Fans in those countries will also be able to watch the Wimbledon qualifying tournament live, which started Monday (June 20).
general restructuring under CEO David Zaslav, which stems from the completion of the Discovery-WarnerMedia merger.Henson’s post was executive vice president, head of unscripted programming for TBS, TNT and truTV. In the role, she oversaw and spearheaded unscripted creative development and production for all three cable brands.
EXCLUSIVE: Corie Henson, who runs unscripted for the Turner networks, is leaving the broadcaster.
Jon Steinlauf, Warner Bros Discovery’s Chief U.S. Advertising Sales Officer declined to offer an update on the company’s upfront ad sales progress during Credit Suisse’s 24th Annual Communications Conference.
Peter Debruge Chief Film CriticThere is only one way to escape from Spiderhead in sly postmodern scamp George Saunders’ all-but-unfilmable short story “Escape from Spiderhead,” and it rhymes with skip-to-my-lou-icide. Unlike print fiction, where pretty much anything goes, movies that feature acts of self-harm must be very careful, since audiences have been known to emulate those same acts. Right up front, Netflix warns viewers of its woefully wrongheaded adaptation that the movie features such behavior.
Brian Steinberg Senior TV EditorLuis Silberwasser is getting ready to till new terrain on a familiar piece of ground.The veteran TV executive, who has in recent years become a top content executive in Spanish-language media, has been named to head up the broader sports business for Warner Bros. Discovery, according to a person familiar with the matter.
Patrick Frater Asia Bureau ChiefWarner Bros. Discovery Thursday announced its management team for Japan, Australia New Zealand, reporting into James Gibbons, WBD’s president and managing director.The reshuffle follows similar announcements for the EMEA area under Priya Dogra and India, Southeast Asia and Korea under Clement Schwebig.In addition to the above appointments, David Macdonald is named VP Networks, Japan, based in Tokyo.
Warner Bros Discovery is wasting no time in unveiling new leadership teams across the globe with the most recent structure outlined for Japan, Australia and New Zealand under James Gibbons, President and Managing Director of the region. This follows teams in EMEA, India, Southeast Asia and Korea being confirmed in the past 36 hours.
The newly combined Warner Bros Discovery has set out its core leadership teams for India, Southeast Asia and Korea (aka INSEAK) under the region’s President and Managing Director Clement Schwebig.