Warner Bros. also announced that “House Party” and “Evil Dead Rise,” initially greenlit as HBO Max releases, will now be theatrical releases that hits the big screen in December 9, 2022 and April 21, 2023 respectively.
Warner Bros. Discovery Stock Plunges Following Earnings Loss and Forecast Revisions
05.08.2022 - 19:35 / variety.com
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.
The valuation of the company has plummeted in the four months since Discovery completed its spinoff transaction with AT&T.On Thursday, WB Discovery posted an enormous loss of nearly $3.5 billion that included a $1 billion write-down for restructuring charges and the new regime’s evaluation of some of the content on the shelf at the former WarnerMedia.As WB Discovery faces pressure to pare down debt, maintain healthy free cash flow and grow global streaming subscribers, CEO David Zaslav and WBD chief financial officer Gunnar Wiedenfels were frank with analysts during a 95-minute conference call Thursday afternoon about the revelations that his team have had during the first 100 days of operating HBO, Warner Bros. and the Turner basic cable networks.
WB Discovery made headlines earlier in the week with the decision to table plans for a dircect-to-HBO Max release of the DC Comics movie “Batgirl,” starring Leslie James. Amid pressure to cut debt and deliver cash flow, the new regime made the decision to table the project to take a $90 million tax write-off rather than spend more on the film to market its release.
That’s a hard-nosed financial calculation that makes sense on a business ledger but set off alarm bells in Hollywood’s creative community.“Strategically we’ve looked hard at the streaming business and how direct-to-streaming movies perform. The idea of expensive films
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deadline.com
23.08.2022 / 18:17
‘The Batman’ Director Matt Reeves Sets Multi-Year First Look Film Deal At Warner Bros. & Re-Ups With Warner Bros Television
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.
ok.co.uk
16.08.2022 / 12:17
Love Island's Luca attends first solo red carpet without Gemma after finally meeting dad Michael
Love Island star Luca Bish made his first solo red carpet appearance without Gemma Owen as he attended the House of the Dragon premiere in Leicester Square on Monday.The 23 year old’s outing comes after he reportedly met Gemma’s famous footballer dad Michael Owen for the first time.The couple have been attached to the hip since leaving the villa as runners-up as they recently travelled to Portugal together, where Luca became acquainted with the Owen family. Gemma, 19, decided to sit this event out though, leaving Luca to experience the premiere all by himself, which he certainly looked excited about.
variety.com
15.08.2022 / 14:41
Nexstar to Acquire 75% Stake in the CW Network From Paramount Global, Warner Bros. Discovery
Jennifer Maas TV Business WriterNexstar Media Group revealed Monday it is set acquire a 75% majority stake in the CW Network from Paramount Global and Warner Bros. Discovery, more than six months after first beginning negotiations for the deal.Warner Bros.
deadline.com
15.08.2022 / 03:29
Warner Bros Forms Multi-Year Pact To Distribute MGM Movies Overseas Beginning With ‘Bones And All’, ‘Creed III’; How Bond Will Be Handled
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.
thewrap.com
15.08.2022 / 00:53
MGM Strikes Overseas Film Distribution Deal With Warner Bros., Including ‘Creed III’
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.
variety.com
15.08.2022 / 00:47
Warner Bros. to Release MGM Movies Internationally, Except for ‘Bond 26’
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.
nypost.com
13.08.2022 / 02:45
‘Batgirl’ Leslie Grace could fly despite Warner Bros. shelving film
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.
deadline.com
11.08.2022 / 08:13
Netflix, Disney, Warner Bros Discovery, Amazon & Other Studios Dodge Abortion Safety Plan Appeal From Shonda Rhimes, Natasha Lyonne, Mindy Kaling, Ava DuVernay & Hundreds Of Female Showrunners & Scribes
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.
deadline.com
09.08.2022 / 17:03
Warner Bros. Discovery Sets Out Germany Management Team; Discovery Deutschland Exec Alberto Horta To Exit
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.
manchestereveningnews.co.uk
08.08.2022 / 11:57
Stacey Solomon reveals stunning bridesmaids for first time with gushing message
Stacey Solomon has spoken out to fans who supported her on her big day as she shared the first photos with her bridesmaids. The Loose Women star is still in her dream wedding bubble after tying the knot with Joe Swash at the end of July.
deadline.com
08.08.2022 / 03:19
Kevin Smith Says “It’s An Incredibly Bad Look To Cancel The Latina Batgirl Movie” After Warner Bros. Discovery Axed DC Film
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.
deadline.com
08.08.2022 / 02:43
The Dish: Amid Layoffs, How David Zaslav Might Deal With J.J. Abrams’ Bad Robot, DC’s Walter Hamada & New Warner Bros. Pictures Chiefs Mike De Luca & Pam Abdy
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.
theplaylist.net
06.08.2022 / 01:05
HBO Max/Discovery+ Combo Streaming Service To Launch Summer 2023 In The U.S.
After a few days of mass uncertainty, with folks on social media wondering what is going on at one of the biggest studios in Hollywood, Warner Bros. Discovery has shed some light on the company’s future.
deadline.com
05.08.2022 / 01:03
Warner Bros. Discovery To “Spend Dramatically More” On HBO/HBO Max & “Lock Up” Majority Of Casey Bloys’ Top Team
Warner Bros. Discovery is doubling down on HBO and HBO Max.
deadline.com
05.08.2022 / 01:03
Warner Bros. Discovery: HBO Max & Discovery+ Combined Streamer To Launch In U.S. In Summer 2023
Warner Bros. Discovery expects to launch its combined HBO Max/Discovery+ streaming service in the U.S. next summer.
variety.com
04.08.2022 / 23:43
Warner Bros. Discovery Sees Q2 Loss on Content Expenses, Merger Costs
Brian Steinberg Senior TV EditorCombining the former WarnerMedia with the company once know as Discovery Communications took a lot of work. Executives at the newly combined Warner Bros.
deadline.com
04.08.2022 / 23:35
Warner Bros. Discovery Posts DTC Subscribers Of 92M In First Quarterly Report Since Merger; $2B Net Loss Includes Hefty Restructuring Charge
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.