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Legacy cable networks, a profitable business for decades, have been hit by intense cord cutting by consumers who favor streaming services.

CNN to lay off 6% of workforce amid digital push

Warner Bros Discovery-owned CNN will lay off about 6% of its workforce as the TV news outlet continues to shift its focus toward a more digital-centric strategy, according to an internal memo seen by Reuters today.

Business • 23 Jan

The company's Max streaming platform expanded into Europe weeks before the Olympic Games with exclusive rights to stream the highly anticipated sporting event, boosting subscribers

Warner Bros Discovery posts surprise profit on Olympics

Warner Bros Discovery has today posted a surprise third-quarter profit as the Paris Olympics powered streaming subscriber growth and cable revenue, making up for a lack of major box office hits from its studio.

Business • 07 Nov 24

Warner Bros Discovery is pinning its hopes on the release of the second installment of sci-fi epic 'Dune', featuring Timothee Chalamet

Warner Bros Discovery posts bigger than expected loss

Warner Bros Discovery has today reported a bigger-than-expected quarterly loss, as the media conglomerate battled the fallout of the twin Hollywood strikes on content generation and a weak advertising market.

Business • 23 Feb 24

The talks between Warner Bros and Paramount are still early, and may not ultimately result in a deal

Warner Bros, Paramount hold deal talks - source

Warner Bros Discovery CEO David Zaslav met with Paramount Global CEO Bob Bakish to discuss a potential deal between the two companies, a source told Reuters yesterday.

Business • 21 Dec 23

Warner Bros Discovery has today lowered its annual core profit forecast

Hollywood strikes to hit Warner Bros revenue for 2023

Warner Bros Discovery is bracing for a hit to its full-year profit as the ongoing Hollywood actors and writers strike shows no signs of let-up.

Business • 05 Sep 23

A big focus area for the new CEO is likely to be the recently announced round-the-clock news service called CNN Max

CNN taps media veteran Thompson as CEO

Warner Bros Discovery named Mark Thompson as CEO of CNN today, tasking the former New York Times and BBC chief with reviving a news network beset by sagging ratings and falling profits.

Business • 30 Aug 23

Warner Bros Discovery today posted a et loss for the quarter of $1.24 billion, compared with a loss of $3.42 billion a year ago

Warner Bros Discovery posts smaller quarterly loss

Warner Bros Discovery today posted a smaller loss for the second quarter as the media conglomerate benefited from cost cuts.

Business • 03 Aug 23

EA expects to debut in September "EA Sports FC", its new football franchise after it ended its partnership with FIFA last year

Electronic Arts forecasts weak bookings

Videogame publisher Electronic Arts has forecast quarterly net bookings below expectations and missed first-quarter estimates, hurt by high competition and muted spending by gamers, sending its shares down 3% after the bell.

Business • 02 Aug 23

All3Media is the production company behind the "Fleabag" series, among others

ITV no longer actively exploring All3Media deal

ITV is no longer actively exploring the possible acquisition of All3Media, the broadcaster and entertainment company said today.

Business • 14 Jul 23

Shares of Warner Bros Discovery have gained about 30% so far this year

Warner Bros Discovery streaming business turns a profit

Warner Bros Discovery said today that its streaming business turned a profit in the first quarter, a milestone for a division that had been losing money in its bid to gain subscribers and a foothold in the industry's digital future.

Business • 05 May 23

The company cut its forecast for 2023 adjusted core earnings

Warner Bros Discovery shares fall as ad woes weigh

Warner Bros Discovery shares fell 4.2% before the bell on Friday as Wall Street worried it would see more profit pain after losing more than $2 billion in the fourth quarter as ad market weakness persists.

Business • 24 Feb 23

BT Group wants to combine its sports broadcasting business with Warner Bros Discovery

BT's venture with Warner Bros Discovery faces UK probe

Britain's competition watchdog said today it had started investigating BT Group's deal to combine its sports broadcasting business with Warner Bros Discovery.

Business • 01 Jun 22

BT said the Discovery joint-venture would create a compelling sports offer for its customers

BT finalises Discovery tie-up in sports broadcasting

BT has finalised a deal to combine its sports broadcasting business with Warner Bros Discovery, strengthening a customer offer that chief executive Philip Jansen said was "hitting the mark" with faster broadband and 5G mobile.

Business • 12 May 22

The media giant was forged by a $43 billion merger between Discovery and AT&T's WarnerMedia assets

Warner Bros Discovery revenue rises after merger

Warner Bros Discovery's quarterly revenue rose 13% in the first set of results from the media giant forged by a $43 billion merger between Discovery and AT&T's WarnerMedia assets.

Business • 26 Apr 22

Warner Bros Discovery will be playing catch up to larger streaming video rival Netflix

AT&T to spin off WarnerMedia in $43bn Discovery deal

AT&T said today it will spin off WarnerMedia in a $43 billion transaction to merge its media properties with Discovery.

Business • 01 Feb 22

Warner Bros Discovery