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...Warner in 2021 agreed to buy hip-hop label 300 Entertainment for more than $400mn, as well as Russian indie label Zhara Music. Sony Music in 2021 paid $430mn to buy independent music company AWAL....
...He has also worked for Mark Warner, the current chair of the Senate intelligence committee, and for Biden’s current climate envoy and former US secretary of state John Kerry....
...This is the first time in the streaming era that Universal has gone as far as removing its music from a tech company’s platform....
...“We remain a very cash-generative business,” said Thompson, who was hired by Warner Bros Discovery chief executive David Zaslav....
...He had made his start in the entertainment industry in the early 1970s at an obscure, money-losing outpost of the Time Inc empire called Home Box Office....
...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....
...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....
...The New York Times first reported the talks between Sony and Apollo....
...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....
...Warner’s net debt stood at $43bn at the end of September, or 4.1 times its earnings before interest, tax, depreciation and amortisation, while Paramount had $14bn in net debt, or 6.1 times its ebitda, according...
...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....
...The stock closed 11.5 per cent higher on Thursday — its biggest one-day gain since November 2020 — to a one-year high of $110.54, taking its advance in 2024 to about 22 per cent....
...Warner Music: buying something huge at the right time at the right price. Len certainly has got the appetite.”...
...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...
...It is on its way to shrinking its leverage ratio from 4.6 times currently to under 3 times over the next 18 months....
...One big winner was the Newhouse family, who through Advance Magazine Publishers Inc own Condé Nast, which bought Reddit in 2006 for $10mn before spinning it out in 2011....
...Before that big step, ESPN is also launching a sports streaming joint venture with Fox and Warner Bros this autumn....
...It’s hard to tell where PinkPantheress is coming from, which is a spur to keep listening. ★★★★☆ ‘Heaven Knows’ is released by Warner Records UK and 300 Entertainment...
...The total was almost 11 times as big as what clubs spent on transfers in the same period in 2020....
...The message is a quietly revelatory one for some women: this is a space for your entertainment, too. sara.germano@ft.com...
...Longevity is the ultimate test of a brand: not whether it stays in fashion all the time but whether it can keep on coming back. A lot of that is down to adaptability....
...Warner Bros Discovery, the Hollywood conglomerate that owns CNN, HBO and other media and entertainment businesses, has been searching for a leader for the channel since ousting Chris Licht in June....
...Warner Bros Discovery, the Hollywood conglomerate that owns CNN, HBO and other media and entertainment businesses, has been searching for a leader for the news channel since ousting Chris Licht in June....
...And so all of a sudden, his raison d’être is changed,” says one former Time Warner official. “He couldn’t have bought the company at a worse time.”...
...Hybe this year failed to acquire SM Entertainment, the K-pop record label behind boy band EXO and girl group Aespa....
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