ITV

Tag: Warner Bros Discovery

  • Natpe Budapest readies for in-person event in June

    Natpe Budapest readies for in-person event in June

    Mumbai: The National Association of Television Programme Executives (Natpe), a global business association for content producers, distributors, streamers and buyers across all platforms has announced Natpe International’s return to an in-person event in Budapest. This year’s spotlight is on Turkish content. The event will take place between 27 and 30 June.

    The marketplace is expected to have around 300 buyers, including 37 broadcasters from the CEE, and more than 60 exhibitors from the US, UK, Latin America, Central Europe and more. Confirmed exhibitors include MGM Television, NBCUniversal,  Warner Bros Discovery,  Paramount Global, Columbia Pictures, A+E Networks, MADD, Kanal D International, Calinos, Global Agency, ATV, ZDF, Inter Medya, and Globo to name a few.

    “As Natpe returns to in-person events, I am thrilled that Natpe Budapest International roars back in-person bringing fresh new content from around the world as we welcome back many distributors from around the globe and the strongest presence ever from CEE buyers. We are proud to host the Ukrainian Pavilion on the exhibition floor,” said Natpe president and CEO JP Bommel.

    This year, there will also be a Ukrainian Pavilion, featuring five Ukrainian broadcasters: Film.UA Group, 1+1 media, Ukraine TV Channels, StarLight Media, UA Suspilne (public broadcaster), and Ukrainian Content Global Cooperation.

    “These dramatic times have unveiled to us the real meaning of the words like partnership, friendship, and support. We understand that the future of the Ukrainian content industry is firmly tied with the European market. Natpe is the next important step for the companies that come under the umbrella of Ukrainian Content Global Cooperation initiative (Film.UA Group, 1+1 media, Starlight Media, Ukraine TV Channels, Suspilne Media) for strengthening existing and finding new business opportunities. And there is some really big news that we’re going to announce in Budapest,” said MRM CEO Kateryna Udut, the organiser of the initiative.

  • Warner Bros. Discovery unveils its new leadership team

    Warner Bros. Discovery unveils its new leadership team

    Mumbai: The newly formed Warner Bros. Discovery has announced its international leadership team under head Gerhard Zeiler. Earlier, he held the position of International President for WarnerMedia and currently he will oversee Discovery globally. Zeiler announced his regional team on Thursday.

    In the major changes, Clement Schwebig was named as Warner Bros. Discovery President and Managing Director of South-East Asia, Korea and India. Schwebig is based in Singapore.

    Anil Jhingan who was Discovery Asia Pacific’s President and Managing Director will lead business development for the enlarged Warner Bros. Discovery group across international markets.

    “Our combined international business has significant scale, and a diversified portfolio – both geographically and across lines of business. As a result, when deciding the new leadership structure, we wanted to ensure that we had dedicated regional leads, to reflect the scale and complexity of the business which would, in turn, increase focus on key markets” Zeiler wrote in a staff memo.

    Priya Dogra who was WarnerMedia Europe, Middle East, Africa and Asia (excluding China) President will now head Warner Bros. Discovery Europe, Middle East and Africa (excluding Poland). James Gibbons who earlier oversaw operations in the UK and Nordics is now Warnermedia Discovery’s President and Managing Director for Australia, New Zealand and Japan. Gibbons will continue to manage the Nordics for an interim period.

    Fernando Media is Warner Bros. Discovery Latin American and US Hispanic President and Managing Director. He replaces Whit Richardson who is leaving the company. Kasia Kieli is Warner Bros. Discovery President and Managing Director of Poland and CEO of TVN. She was earlier Central and Eastern Europe, Middle East and African President and Managing Director.

    Gillian Zhao will continue as WarnerMedia China president. Andrew Georgiou will still be Warner Bros. Discovery President and Managing Director for Sports Europe based in London. Robert Blair will lead licensing as International Television Distribution President. Ronald Goes will stay in his role as Executive Vice-President and Head of International TV production.

    “As JB and I committed in our original note to you all, our decisions are the result of a thought-through process which included ensuring that the leadership team reflected the breadth of experience and talent across the two businesses. None of these decisions were easy or taken lightly,” wrote Zeiler in his memo.

  • Discovery, AT&T close in on WarnerMedia transaction

    Discovery, AT&T close in on WarnerMedia transaction

    Mumbai: Discovery Inc and AT&T have announced that they have closed their transaction to combine the WarnerMedia business with Discovery. The combined entity is a premier standalone global media and entertainment company Warner Bros Discovery, which will begin trading on the Nasdaq with the start of trading on 11 April, under the new ticker symbol ‘WBD.’

    The new company combines WarnerMedia’s premium entertainment, sports and news assets with Discovery’s leading non-fiction and international entertainment and sports businesses, including Discovery Channel, discovery+, Warner Bros. Entertainment, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies and others.

    “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. “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. We are confident that we can bring more choice to consumers around the globe while fostering creativity and creating value for shareholders.”

    “We are at the dawn of a new age of connectivity, and today marks the beginning of a new era for AT&T,” stated AT&T CEO John Stankey. “With the close of this transaction, we expect to invest at record levels in our growth areas of 5G and fiber, where we have strong momentum, while we work to become America’s best broadband company. At the same time, we’ll sharpen our focus on returns to shareholders. We expect to invest for growth, strengthen our balance sheet and reduce our debt, all while continuing to pay an attractive dividend that puts us among the top dividend-paying stocks in America.”

    Under terms of the agreement, which was structured as a Reverse Morris Trust transaction, at close AT&T received $40.4 billion in cash and WarnerMedia’s retention of certain debt. Additionally, shareholders of AT&T received 0.241917 shares of WBD for each share of AT&T common stock they held at the close. As a result, AT&T shareholders received 1.7 billion shares of WBD, representing 71 per cent of WBD shares on a fully diluted basis. 

    Discovery’s existing shareholders own the remainder of the new company. In addition to their new shares of WBD common stock, AT&T shareholders continue to hold the same number of shares of AT&T common stock they held immediately prior to close.

  • Chris Licht to be head of CNN post WarnerMedia-Discovery merger

    Chris Licht to be head of CNN post WarnerMedia-Discovery merger

    Mumbai: Discovery Inc has announced its plans to appoint Chris Licht as the new chairman and chief executive officer of CNN Global. The appointment will be effective following the completion of Discovery Inc’s acquisition of WarnerMedia, expected in early Q2.

    Discovery expects that Licht will start at CNN in early May, after Discovery’s acquisition of CNN is complete. He will report directly to Warner Bros Discovery CEO David Zaslav.

    Licht has spent more than 20 years in broadcast news and currently serves as executive vice president of special programming at CBS. He has created, led and strengthened award-winning news and entertainment shows and programming, including “The Late Show with Stephen Colbert,” “CBS This Morning,” and MSNBC’s “Morning Joe.”

    “I have known and admired Chris for more than 15 years and strongly believe he is the best person to lead CNN Global as part of Warner Bros. Discovery,” said Warner Bros Discovery CEO David Zaslav. “Chris is a dynamic and creative producer, an engaging and thoughtful journalist, and a true news person. He has more than two decades of broadcast experience across local, cable and national news. He has been in the field, in the control room and on the set. He is a highly principled individual who is trusted, hard-working and makes every organization stronger, more innovative, and more cohesive.”

    “I’m honored to have this opportunity, especially at such an important time for our country and the world,’’ said Licht. “CNN has a rich and storied legacy and I both promise to uphold it and build upon it. I am eternally grateful to Stephen Colbert and the peerless Late Show team for an unforgettable run. I am looking forward to returning to my journalism roots.”

  • AT&T to spin off its interests in WarnerMedia in $43 bn transaction

    AT&T to spin off its interests in WarnerMedia in $43 bn transaction

    Mumbai: AT&T has announced that it will spin off 100 per cent of its interest in WarnerMedia to AT&T’s existing shareholders in a pro-rata distribution, following the merger of WarnerMedia with Discovery, which is expected to close in the second quarter of 2022.

    Following the closing of the transaction, the Warner Bros Discovery Inc common stock is expected to be listed on the NASDAQ global select market under the ticker ‘WBD.’ The new company’s board of directors will consist of 13 members, seven initially appointed by AT&T, including the chairperson of the board. Discovery has designated six members, including CEO David Zaslav.

    Discovery president and CEO David Zaslav will lead WBD with a best-in-class management team and operational and creative leadership from both companies.

    AT&T’s board of directors has approved an expected post-close annual dividend of $1.11 per AT&T share to account for the distribution of WarnerMedia to AT&T shareholders and to size the annual dividend payout at approximately 40 per cent of the projected free cash flow to enable investment in attractive opportunities.

    AT&T will receive $43 billion (subject to working capital and other adjustments) in a combination of cash and other consideration and AT&T’s shareholders will receive a stock representing 71 per cent of the new company, Warner Bros. Discovery Inc. on a fully diluted basis. Existing Discovery shareholders will own approximately 29 per cent of the new company on a fully diluted basis.

    On the closing date of the transaction, each AT&T shareholder will receive, on a tax-free basis, an estimated 0.24 shares of the new WBD common stock for each share of AT&T common stock held as of the record date for the pro-rata distribution. The exact number of shares of WBD to be received by AT&T shareholders for each AT&T common share will be determined closer to the closing based on the number of shares of AT&T common stock outstanding and the number of shares of Discovery common stock outstanding on an as-converted and as-exercised basis. AT&T has approximately 7.2 billion fully diluted shares outstanding.  

    AT&T shareholders will continue to hold the same number of shares of AT&T after the transaction closes.

    In connection with the transaction, all classes of shares of Discovery capital stock will be converted and reclassified into common shares of WBD with one vote per share.

    No action is required by AT&T’s shareholders to receive shares of WBD common stock in the merger when it occurs. The closing of the transaction remains subject to satisfaction of certain conditions, including obtaining all necessary regulatory approvals.

    “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,” said AT&T CEO John Stankey. “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.

    “We believe that the remaining AT&T and the new WBD are two equities that the market will want to own and the markets to support those equities will develop,” Stankey said. “Rather than try to account for market volatility in the near-term and decide where to apportion value in the process of doing an exchange of shares, the spin-off distribution will let the market do what markets do best. We are confident both equities will soon be valued on the solid fundamentals and attractive prospects they represent.”

    AT&T will continue to trade on the NYSE under the ticker ‘T.’ The company will host a virtual investor conference on 11 March at which it will provide additional insight and expectations for the financial and operational performance of AT&T’s communications segment following the close of the pending WarnerMedia transaction.

  • CNN announces streaming service CNN+, set to launch in early 2022

    CNN announces streaming service CNN+, set to launch in early 2022

    New Delhi: As news media companies look for ways to survive and thrive in a fiercely aggressive digital market, the latest TV network to enter the crowded market of streaming news is AT&T’s CNN. The US-based Cable News Service (CNN) has announced its new venture CNN Plus – a streaming platform which will exist alongside its existing linear TV networks.

    According to the announcement, the subscription-based streaming service will feature eight to twelve hours of live programming daily. The network has already begun developing dozens of programs and hiring the requisite employees as part of an urgent bid to keep up with changing consumer demands amid cord-cutting trends across the US.

    CNN+ is the start of a new era of the company, said WarnerMedia News and Sports chairman and CNN Worldwide president, Jeff Zucker on Monday. “CNN invented cable news in 1980, defined online news in 1995 and now is taking an important step in expanding what news can be by launching a direct-to-consumer streaming subscription service in 2022,” he said in a statement.

    Terming it as “the most important launch for CNN” since the launch of the network in June, 1980, chief digital officer Andrew Morse said CNN+ will be launched in the US in the first quarter of 2022 and roll out in other countries later.

    Apart from at least eight hours of live programming which the company says, will be different from “what CNN produces on TV”, the new service will have original series, and interactive programming, that will allow subscribers to engage directly with talent and experts about the issues that matter most to them.

    The company is yet to disclose how much it will cost consumers.

    With around 4,000 employees, CNN has one of the largest news operations in the world. It is hiring about 450 people for CNN+, from producers to engineers to marketers, said Morse on Monday. “The sizable number of job openings is a reflection of CNN parent WarnerMedia’s investment in the product on the heels of the HBO Max streaming service launch in 2020,” he added. 

  • Warner Media-Discovery merged outfit named Warner Bros.Discovery

    Warner Media-Discovery merged outfit named Warner Bros.Discovery

    MUMBAI: When two well-known media firms fuse, there’s always a big debate about what the new organisation should be called? But the folks at Discovery and AT&T have kept their life simple: they have decided to call the proposed global entertainment outfit being born out of the merger between Hollywood entertainment powerhouse Warner Bros and  the firm founded by John Hendricks as ‘Warner Bros.Discovery.’

    A press release issued by Discovery stated that “The Warner Bros. Discovery name will honor, celebrate and elevate the world’s most-storied creative studio in the world with the high quality, global nonfiction storytelling heritage of Discovery.”

    David Zaslav, President and CEO of Discovery and the future CEO of the proposed Warner Bros. Discovery combined company, unveiled the new name to WarnerMedia employees from the Warner Bros. studio lot in Burbank, CA, where he said:

    “Warner Bros. Discovery will aspire to be the most innovative, exciting and fun place to tell stories in the world – that is what the company will be about.  We love the new company’s name because it represents the combination of Warner Bros.’ fabled hundred year legacy of creative, authentic storytelling and taking bold risks to bring the most amazing stories to life, with Discovery’s global brand that has always stood brightly for integrity, innovation and inspiration. There are so many wonderful, creative and journalistic cultures that will make up the Warner Bros. Discovery family. We believe it will be the best and most exciting place in the world to tell big, important and impactful stories across any genre – and across any platform: film, television and streaming.”

    The initial wordmark for the proposed company includes the iconic line from the Maltese Falcon, “the stuff that dreams are made of,” an additional homage to the rich legacy of Warner Bros. and the focus of what the proposed company will be about.

    In May, AT&T and Discovery reached a definitive agreement to combine WarnerMedia’s premium entertainment, sports and news assets with Discovery’s leading nonfiction and international entertainment and sports businesses to create a single company.

    Warner Bros. Discovery will bring together leadership teams, content creators, and high-quality series and film libraries in the media business, while accelerating both companies’ plans for leading direct-to-consumer (DTC) streaming services for global consumers. The new company will unite complementary and diverse content strengths with broad appeal — WarnerMedia’s robust studios and portfolio of iconic scripted entertainment, animation, news and sports with Discovery’s global leadership in unscripted and international entertainment and sports.

    The “pure play” content company will own one of the deepest libraries in the world with nearly 200,000 hours of iconic programming and will bring together over 100 of the most cherished, popular and trusted brands in the world under one global portfolio, including: HBO, Warner Bros., Discovery, DC, CNN, WB Games, Turner Sports, Cartoon Network, HGTV, Food Network, TNT, TBS, Turner Classic Movies, Wizarding World, Adult Swim, Eurosport, Magnolia, TLC, Animal Planet, ID and many more.
    Warner Bros. Discovery will be able to increase investment and capabilities in original content and programming; create more opportunity for under-represented storytellers and independent creators; serve customers with innovative video experiences and points of engagement; and propel more investment in high-quality, family-friendly nonfiction content, says the press release.