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Warner Bros. Discovery Unveils Executive Team for Nordics

Warner Bros. Discovery has unveiled its management team for the Nordics, led by Christina Sulebakk, who was appointed general manager of the business in June. Among key appointments, Pil Gundelach Brandstrup will take lead responsibility for content and planning across the region, while also continuing to serve as content lead for Denmark. Magnus Vatn, responsible for […]

Discovery Shareholders Approve WarnerMedia Merger

Discovery shareholders have formally approved the mega-combination of the factual and lifestyle media powerhouse with AT&T’s entertainment division WarnerMedia, setting the stage for the merger to close in the coming weeks. “Based on estimated preliminary voting results, Discovery stockholders voted to approve the charter amendment proposals, share issuance proposal and the advisory (non-binding) compensation proposal,” […]

David Zaslav: Warner Bros. Discovery Won’t Try to “Win the Spending War” in Streaming

The company to be created by the merger of Discovery and AT&T’s WarnerMedia will focus on profitable growth in streaming, Discovery CEO David Zaslav said Thursday, with his CFO Gunnar Wiedenfels vowing a “conservative approach” to content spending. Entering the final stages before the deal close in a strong financial position, Zaslav told analysts on […]

Univision, Televisa Complete $4.8B Merger

There’s a new Spanish-language TV juggernaut, and its name is TelevisaUnivision. Univision and the Mexican TV giant Televisa completed their $4.8 billion merger on Monday, creating the newly-formed company, which brings together Televisa’s media content and production assets with Univision’s assets, which will include dozens of cable channels, multiple broadcast networks, and a vast array […]

Hedge Fund Titan Bill Ackman Buys $1.1B in Netflix Stock: “We Are All-In on Streaming”

Pershing Square Capital Management founder Bill Ackman told shareholders Wednesday that his firm has been scooping up shares in streaming giant Netflix, making his firm one of the top 20 shareholders in the company. Ackman said that his firm has purchased 3.1 million Netflix shares so far, which would be worth more than $1.1 billion, […]

UTA Prices $200M IPO for SPAC Targeting Gaming, Creator Economy

A special purpose acquisition company (SPAC) backed by United Talent Agency has priced its initial public offering at $200 million, and plans to use that capital to pursue a company in the gaming, creator economy and digital media sectors. The SPAC expects to begin trading on the NASDAQ under the ticker “UTAAU” Thursday. The SPAC, […]

South Korea’s CJ ENM to Acquire Controlling Stake in Endeavor Content

Endeavor has struck a deal to sell a majority stake in its Endeavor Content studio to South Korean media giant CJ ENM, the company behind films like Parasite and Snowpiercer, for $775 million. The deal values the company at $850 million. Endeavor will retain a 20 percent stake in Endeavor Content and is also holding […]

Gravitas Ventures Sold to Anthem Sports & Entertainment for $73M

German media giant ProSiebensat 1 is selling the independent film distributor Gravitas Ventures to Anthem Sports & Entertainment, a holding company that owns AXS TV, HDNet Movies, Impact Wrestling, Fight Network and Game TV. Gravitas Ventures had been part of ProSiebensat 1’s Red Arrow Studios. Founded by Nolan Gallagher in 2006, Gravitas was acquired by […]

Sony Sells GSN Games Studio to Scopely for $1B

Sony Pictures Entertainment will sell its video game studio GSN Games to the mobile gaming firm Scopely in a deal valued at $1 billion. The deal, which is a 50-50 mix of cash and Scopely stock, will make Sony a significant minority shareholder in the gaming company. GSN CEO Mark Feldman will continue to oversee […]

Magnolia Pictures Exploring Sale

The independent film distributor Magnolia Pictures is exploring a potential sale, someone familiar with the process confirmed to The Hollywood Reporter. Magnolia, which is owned by Mark Cuban and Todd Wagner’s 2929 Entertainment, is looking to capitalize on the demand for library content by streaming services. Streaming services attached to the studios like Paramount+ and […]

Former CBS Interactive Chief Jim Lanzone Named CEO of Yahoo

Former CBS Interactive CEO Jim Lanzone is returning to the media sector. Lanzone, who has been the CEO of dating app Tinder for the last year, will become CEO of Yahoo, which last week spun out from its former parent company Verizon, and is controlled by the private equity firm Apollo. Lanzone starts at Yahoo […]

BuzzFeed Revenue Rises as Plans to Go Public Stay on Track

BuzzFeed says that its revenue rose by more than 50 percent in Q2 of 2021, reflecting improvements in the advertising and ecommerce spaces. In a revised filing with the SEC, the digital media giant sys that its planned acquisition of Complex Networks from Hearst and Verizon and its planned merger with the SPAC 890 5th […]