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Jeff Blackburn After a yearlong sabbatical, the two-decade Amazon veteran returns to lead a new global entertainment group that will combine oversight of video, music, games and more. Bob Chapek The Disney CEO saw streaming growth slow in the latest quarter as Disney+ hit 103.6 million subscribers, below the 110 million forecasted by Wall Street. Steve Kornacki The MSNBC and NBC News national political correspondent gets an expanded role, inking a multiyear deal with parent company NBCUniversal. Angelina Jolie The star’s Warner Bros.’ thriller Those Who Wish Me Dead underwhelms in its domestic debut with $2.8 million from 3,198 theaters, alongside its HBO Max bow. Showbiz Stocks $17.88 (+18%) LIONSGATE (LGF.A) The studio and Starz owner saw its stock price surge this week, as its appeal as a potential takeover…
The irony of David Zaslav’s ascent to the top of the unnamed WarnerMedia and Discovery combination is that had the Discovery CEO gotten this job at any other time in Hollywood history, he would have been the lowly outsider with no meaningful scripted experience, a purveyor of home shows and reality fare beneath the notice of the elite. He would have been in for a potentially fatal hazing. But at this moment, many in the entertainment business are eager to be rid of the AT&T regime — led by CEO John Stankey and WarnerMedia chief Jason Kilar — that seemed unwilling and unable to learn the language. So they’re prepared to welcome the head of the company that brings you 90 Day Fiance, House Hunters and Dr. Pimple Popper with…
The potential pairing of AT&T’s WarnerMedia with Discovery presents the Biden administration with its first major merger review. How will it play out? Notably, the previous administration went to court in 2017 to stop AT&T’s $85 billion acquisition of Time Warner and failed in its antitrust case. AT&T’s decision to now spin off its Warner unit marks a stunning turn, although past legal history may not be relevant in the forthcoming review. The prior merger represented vertical integration in the industry — the combination of content plus distribution — this one features horizontal consolidation of content companies; both WarnerMedia and Discovery have massive footprints in TV production. That said, the merging parties will surely point to their nascent streamers — HBO Max and Discovery+ — as lagging behind Netflix and…
In 1988, Ted Turner had a vision: CNN should merge with Discovery Channel. It was still early days for cable television (Discovery debuted an experiment called “Shark Week” that year), but the outspoken CNN founder, someone with an eye for deals, floated the consolidation. “They just belong together,” Turner told Discovery founder John Hendricks at the time, inviting him to CNN’s Atlanta headquarters for a tour. Discovery executives convened in the wood-paneled boardroom of the boutique investment firm Allen & Co. under the watchful eye of the Norman Rockwell paintings that adorned its walls. “It was clear to all of us on the board of directors that the Discovery Channel would one day be worth $500 million, $1 billion or more. So why sell out now when the value might…
In untangling itself from its WarnerMedia holdings with a $43 billion deal with Discovery, AT&T is seeking to join Verizon in saying goodbye to Hollywood ambitions. Both telecom giants tried to reap gains from tying content businesses to vast wireless distribution networks. But getting these buys to pay off was more difficult than management expected. “The simple rule from the past 20 years is that telco and media assets generally do not mix,” says Ian Whittaker, a London-based finance consultant. “The mind-set between the two sides is too different, and it always ends up with the telco companies regretting their purchase.” Cowen analyst Colby Synesael says that the Discovery combination will allow AT&T to “unwind much of the company’s vertically aligned strategy it had pursued the last seven years,” which…
Perception of Brand Credibility TV Anchor Favorability (MAY 2021) Source: THR-Morning Consult polls conducted May 6 to 9, 2021, and April 16 to 18, 2020, among a national sample of 2,200 adults. Respondents were asked “how credible are each of the following?” and answers add together “Very credible” and “Somewhat credible” into a single category and “Not too credible” and “Not at all credible” in another category. Percentages don’t equal 100 percent.…
