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Tag: J.P. Morgan

  • Blockbuster breakup as Warner Bros. Discovery plots a starry split

    Blockbuster breakup as Warner Bros. Discovery plots a starry split

    MUMBAI: When one studio door closes, another opens with a box-office bang. In a dramatic plot twist that rivals its biggest screen spectacles, Warner Bros. Discovery (WBD) is pressing play on a two-part sequel splitting into two publicly traded companies to give each unit its moment in the spotlight. Announced today, the tax-free separation will see WBD carve out Streaming & Studios home to HBO, DC Studios, Warner Bros. Pictures and Television, and HBO Max from Global Networks, which includes CNN, TNT Sports, Discovery, and Discovery+, as well as key linear and digital assets across 200 countries and 68 languages.

    David Zaslav, WBD’s current President and CEO, will lead Streaming & Studios, while Gunnar Wiedenfels, its CFO, will take charge of Global Networks. Both will retain their existing roles during the transition.

    “This move gives us the sharper focus and agility needed to thrive in today’s fast-evolving media universe,” Zaslav said, promising a future of creative excellence and strategic flexibility. Wiedenfels added that the split will allow “each company to leverage its strengths and financial profiles,” paving the way for innovation and shareholder value.

    Streaming & Studios will combine storytelling firepower and IP goldmines think Harry Potter, Game of Thrones, and Batman with global platform HBO Max, which currently operates in 77 markets and plans further expansion by 2026. WBD is aiming for 3 billion dollars in annual adjusted EBITDA from this division.

    Global Networks, meanwhile, commands a massive reach of 1.1 billion viewers, with an eye on live content growth, international opportunities, and monetising digital assets like B/R and CNN’s new streaming play. The unit boasts industry-leading margins and strong free cash flow.

    A crucial detail: Global Networks will retain up to 20 per cent stake in Streaming & Studios, planned to be monetised later for balance sheet de-leveraging.

    To support the split, WBD has secured a 17.5 billion dollars bridge facility from J.P. Morgan, which it expects to refinance before separation. Tender offers and consent solicitations have also been launched to optimise its debt structure.

    The full spin-off is targeted for mid-2026, pending board approvals, market conditions, and tax clearances from the IRS. J.P. Morgan and Evercore are advising, with Kirkland & Ellis as legal counsel.

    WBD Chair Samuel A. Di Piazza, Jr. framed the move as a win for shareholders: “This transaction is a great outcome, unlocking long-term value and strategic focus for two exceptional businesses.”

    The end credits may still be a year away, but WBD’s bold reboot is already setting the stage for a media double feature like no other. One company to power global fandoms, another to rule the airwaves all from the studio that gave us a century of storytelling magic.
     

  • Phonepe prepares for IPO, targets $15 billion valuation with top banks

    Phonepe prepares for IPO, targets $15 billion valuation with top banks

    MUMBAI: Phonepe is gearing up for its stock market debut, enlisting J.P. Morgan, Kotak Mahindra Bank, Morgan Stanley, and Citi to oversee its IPO. The fintech firm, backed by Walmart, is eyeing a valuation of up to $15 billion as it plans to list on Indian stock exchanges.

    Marking a decade in business, Phonepe has restructured its corporate framework, consolidating its various divisions into wholly owned subsidiaries. This strategic move, coupled with robust financial growth, positions the company favourably for public listing.

    Phonepe has reported over 70 per cent revenue growth in the past fiscal year while narrowing net losses and achieving an adjusted post-tax profit. A sharp focus on automation, operational efficiency, and cost management has reinforced its financial stability.

    With a strong user base and innovative digital solutions, Phonepe aims to sustain its strong position in India’s fintech space. As it advances towards the IPO, the company remains committed to scaling its business and driving long-term profitability in the evolving digital payments sector.

  • TRRAIN partners with JP Morgan to support 3000 women employees in retail sector

    TRRAIN partners with JP Morgan to support 3000 women employees in retail sector

    MUMBAI:  TRRAIN, a not for profit organisation, in partnership with JP Morgan has launched a rapid response program with the aim to assist 3000 women employees in the retail sector whose livelihoods have been impacted as a result of the Covid2019 crisis.

    The program will support women in Mumbai, Delhi, and Bangalore who have lost jobs or income and provide immediate relief in the form of an income bridge for three months until they can seek alternative employment.

    TRRAIN has also partnered with Haqdarshak, a technology platform that connects citizens with their eligible schemes, to link beneficiaries and their families to appropriate government schemes. It is also collaborating with industry leaders such as RAI, Images Safexpress, Marks & Spencer Reliance India, Siyarams, DLF-Mall, Inorbit, Levis and through Give India’s platform for donors, to expand its efforts to reach more individuals impacted in the retail sector.

    TRRAIN founder BS Nagesh said, “The Rs 1.2 crore program will support 3000 women and their families.  A huge number of women workforce in the retail sector have found it challenging to sustain their incomes due to country-wide lockdowns. Many of them are the sole breadwinners for their families and are most likely to have lost their employment or may not receive salaries in the coming months. This program will provide access to capital to help such individuals tide over their immediate financial needs.”

    All beneficiaries of the rapid response program will be on-boarded onto the TRRAIN Circle mobile app and will have access to counseling services over the phone, and e-learning skills training.

      JP Morgan head – CSR & philanthropic initiatives Maneesha Chadha said, “This philanthropic investment is part of our global commitment to address the immediate needs of hard-hit communities and help boost an inclusive economic recovery. The retail industry employs a number of women who have been disproportionately impacted in the current situation. This initiative will help such women get access to critical support through which they and their families can overcome immediate financial challenges as well as use the opportunity to ensure their long-term financial health. We are proud to partner with TRRAIN on this important initiative.” 

  • Viacom names Alex Berkett as SVP, corporate development

    Viacom names Alex Berkett as SVP, corporate development

    MUMBAI: Viacom Inc has appointed Alex Berkett to the position of senior vice president, corporate development.

     

    In this role, Berkett will lead the company’s global corporate development and mergers and acquisitions functions. Based in New York, he will report directly to Viacom CFO Wade Davis.

     

    Berkett will identify and develop growth opportunities for Viacom and its brands, including partnerships, acquisitions, investments and joint ventures. He will also work closely with senior executives across the company to advise on and lead deal negotiations.

     

    Berkett joins Viacom from Townsquare Media, a publicly-held diversified local media company he co-founded in 2010. At Townsquare, he served as executive vice president, responsible for corporate development, mergers and acquisitions, corporate finance, investor relations and a variety of other senior functions.

     

    “We’re thrilled to welcome Alex to Viacom, where he will oversee our efforts to forge new partnerships, explore opportunities in innovative new businesses and help advance the company’s strategic goals. Viacom is committed to continued investment in key areas of growth, and Alex’s deep knowledge of media, strong transactional track record and entrepreneurial background make him the right choice to expand our capabilities in new and exciting ways. Alex is a proven leader and has the skills and experience to hit the ground running,” said Davis.

     

    Prior to his work at Townsquare, Berkett worked in J.P. Morgan’s Technology, Media & Telecom Investment Banking Group, which he joined following the firm’s acquisition of Bear, Stearns & Co. Berkett spent eleven years in the investment banking division of Bear Stearns, rising to managing director, where he focused on merger and acquisition advisory for media and entertainment companies.

  • Nickelodeon ups Crosby to SVP strategy and business development

    Nickelodeon ups Crosby to SVP strategy and business development

    MUMBAI: Nickelodeon has named Dominique Crosby as Nickelodeon and MTVN Kids & Family Group senior vice president strategy and business development. The announcement was made by executive vice president strategy and business operations Sarah Kirshbaum Levy, to whom Crosby will continue to report.

    “With her gift for strategic thinking and process organisation, Dominique has been a major contributor to the growth of our business. She’s a talented executive whose proven leadership will insure greater coordinated strategic thinking across lines of business and that all of our strategy and business development activities get value added input and oversight,” said Kirshbaum Levy.

    In her new role Crosby will oversee all strategy and business development at Nickelodeon and MTVN Kids and Family Group and will be responsible for identifying, analysing and recommending new business opportunities, as well as providing long-term strategic analysis and vision for existing lines of business.

    Crosby joined Nickelodeon’s business development team in 2001 as director strategy and business development and was named vice president in 2002. She has spearheaded the strategy work for Spike TV’s repositioning, Nickelodeon’s long range plan and Nick’s digital television networks’ positioning and expansion. She was also a key player in vital projects including Nickelodeon’s acquisition of the online site Neopets and MTV Networks’ foray into Video-on-Demand.

    Prior to joining Viacom, Ms. Crosby was an Associate in J.P. Morgan’s Venture Capital and Private Equity group focusing on the telecommunications, technology and media industries, and also worked in the mergers and acquisitions and debt capital markets departments.