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...He was named to the Time Inc board in 1988 and took a lead role in its $14bn deal to acquire Warner Communications, uniting the magazine company founded by Henry Luce with the film studio once led by Jack...
...Paramount trades at an enterprise value/ebitda multiple of 11 times (assuming its debt is worth 100 cents on the dollar). Warner gets just 7 times....
...Like other legacy entertainment companies, Warner is facing a sharp decline in its traditional television business....
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...“Disney’s content and technology strategies are weak and its lack of transparency is stark,” the firm said in its letter to the entertainment company’s shareholders....
...“We didn’t think that we’d be profitable this fast,” he told the Financial Times. “We’re at the beginning part of the journey....
...The New York Times first reported the talks between Sony and Apollo....
...He knows the media and entertainment business cold and has the successful track record to prove it.” “Putting people on a board unnecessarily can harm a company....
...And Peltz could also provide “assurance to other investors that the board is properly engaged this time around”....
...The firm, which had previously taken aim at fitness company Peloton, said it planned to nominate Warner Brothers Discovery executive Jessica Schell, Tribeca Film Festival co-founder Craig Hatkoff, and Leah...
...The major record labels — Universal, Sony and Warner — earn money by taking a cut of revenue from streams and album sales from a stable of thousands of musicians....
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...It would be watching the company’s performance and “focusing on its continued success”, it said....
...Blackstone turned up at just the right time....
...Big entertainment groups including Warner, Paramount and Disney have been on a cost-cutting mission as they try to shrink losses running into the billions of dollars from their video streaming services....
...Warner Music: buying something huge at the right time at the right price. Len certainly has got the appetite.”...
...Warner Bros Discovery shares were on course for their biggest daily drop in a more than a year after the entertainment group warned investors that it was “unlikely” to meet its debt payment goals....
...Before that big step, ESPN is also launching a sports streaming joint venture with Fox and Warner Bros this autumn....
...Now, the Department of Justice is reportedly preparing to sue Ticketmaster’s parent company Live Nation Entertainment over anti-competitive practices....
...Scott O’Neil, chief executive of Merlin Entertainments, said the company was building a dynamic pricing model — widely known as surge pricing — to be introduced at its top 20 global attractions by the end...
...Warner Bros Discovery shares fell 19 per cent on Wednesday for their biggest daily drop since March 2021 after the entertainment group warned investors it was “unlikely” to meet its goals for paying off...
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...David Zaslav, the chief executive of Warner Brothers Discovery, said on Thursday that the US media company was “in the business of storytelling”....
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