NBA Commissioner Adam Silver speaks to the media during a press conference as part of the 2022 All-Star Weekend at Rocket Mortgage Fieldhouse on February 19, 2022 in Cleveland, Ohio.Whether it's two people in a marriage or a company and a sports league, it's not easy to break up a 40-year partnership.The National Basketball Association and Warner Bros. Discovery's Turner Sports have been in business together for nearly four decades. The relationship is now in jeopardy, as Comcast's NBCUniversal is attemptin ...

业绩总结 - 公司在2021年第一季度结束时拥有46.9万DTC订阅用户[38] - 公司的DTC订阅用户规模正在扩大，接近5000万[37] 用户数据 - 公司在全球市场的定位仍处于早期阶段，尚未进入重要市场如英国、德国、意大利和澳大利亚[40] 未来展望 - 公司计划在欧洲等市场推出Max服务，与传统分销合作伙伴和非传统分销合作伙伴进行捆绑销售[43] - 公司认为全球消费者最终会在三到五个全球流媒体服务提供商之间做出选择，公司有信心成为前三大玩家并实现盈利[48] - 公司在未来三到五年的战略规划中，重点包括全球市场推广Max产品、保持强大的线性产品、增加本地内容和提高国际市场的利润[78] 新产品和新技术研发 - 公司在全球推出HBO Max和Discovery+产品时，注重技术和产品的完善，产品评分得到提升[30] 市场扩张和并购 - 公司计划在欧洲等市场推出Max服务，认为本地内容至关重要，已取得一些本地内容的成功[70] 负面信息 - 公司对于奥运会合同的续签采取了谨慎的方式，只竞标了付费电视和流媒体权利[76]

Warner Bros. Discovery, Inc. (NASDAQ:WBD) MoffettNathanson's Media, Internet & Communications Conference May 15, 2024 1:00 PM ET Company Participants Gerhard Zeiler - President of International Conference Call Participants Robert Fishman - MoffettNathanson Robert Fishman It's Robert Fishman here again, and we are very excited to have a new guest for us and for most here, Gerhard Zeiler at Warner Bros. Discovery. And so instead of me just reading your bio, I thought we'd maybe just kick off with you sharing ...

文章核心观点 - 华纳兄弟发现公司宣布增加之前公布的现金收购要约的总购买价格上限至25亿美元 [1] - 该收购要约涉及多只华纳媒体、发现传播和华纳媒体控股公司发行的债券 [1][2] - 收购要约的具体条款和条件在《收购要约》中有详细说明 [14] 根据目录分别总结 收购要约细节 - 收购要约将于2024年6月7日到期,除非提前终止或延长 [5] - 持有人可在2024年5月22日之前撤回已提交的债券 [5] - 对于在2024年5月22日之前提交且未撤回的债券,将支付包括30美元提前提交溢价的总对价 [6] - 在2024年5月22日之后提交的债券将只获得不含提前提交溢价的收购对价 [6] - 对价将于2024年5月23日确定 [6] - 支付对价时将包括应计未付利息 [7] - 预计结算日为2024年6月12日 [8] 收购要约的优先顺序和分配 - 根据优先顺序(1-12),先接受优先级更高的债券 [9][10] - 如果在提前提交截止日前提交的债券总购买价格等于或超过总购买价格上限,在提前提交截止日后提交的债券将不会被接受 [11] - 如果最后一个优先级别的债券导致总购买价格上限被超过,将对该系列债券进行比例分配 [11] 其他条款 - 该收购要约需满足包括融资条件在内的多项条件 [12] - 公司保留多项权利,如延长或终止要约、修改条款等 [13] - 公司未来可能以其他方式继续收购剩余未偿还债券 [17] - 该要约不构成任何证券的要约或出售邀约 [18]

Jacek_Sopotnicki Warner Brothers Discovery (NASDAQ:WBD) released first quarter earnings last week. The media giant has been scrutinized for earnings performance and high leverage since its merger. Back in February, I took a bullish stand on Warner Brothers Discovery through the sale of cash secured puts. While the first quarter earnings report disappointed by missing both revenue and earnings estimates, I believe there are current and upcoming catalysts to stay bullish on WBD stock. Warner Brothers Disc ...

NEW YORK, May 10, 2024 /PRNewswire/ -- Warner Bros. Discovery, Inc. (Nasdaq: WBD) today announced that its President of International Gerhard Zeiler and its Chief Financial Officer Gunnar Wiedenfels will each present at media industry conferences during the month of May. Gerhard Zeiler will present at MoffettNathanson's Media, Internet and Communications Conference on Wednesday, May 15, 2024 at 1:00 p.m. ET. Gunnar Wiedenfels will present at J.P. Morgan's 52nd Annual Global Technology, Media and Communicati ...

文章核心观点 - 华纳兄弟发现公司(WBD)2024年第一季度每股亏损40美分,超出市场预期 [1] - 公司营收同比下降6.9%至99.5亿美元,低于市场预期 [2] - 广告收入、发行收入和内容收入均同比下降 [3] 业务板块分析 影视制作业务(Studios) - 影视制作业务收入同比下降12.2%至28.3亿美元 [4] - 内容收入同比下降14%,主要受到《哈利波特:遗产》和《自杀小队:正义使命》收入下降的影响 [5] - 电视业务收入大幅下降,主要由于WGA和SAG-AFTRA罢工导致交付集数减少 [6] - 电影业务收入大幅增长,主要受益于《沙丘:第二部》和上一季度电影的延续收益 [7][8] 电视网业务(Networks) - 电视网业务收入同比下降8.2%至51.5亿美元 [9] - 发行收入下降6%,主要由于美国有线电视用户下降,部分被美国合同费率上涨和阿根廷通胀影响所抵消 [10] - 广告收入下降11%,主要由于国内综艺和新闻频道收视下降,以及美国和拉美广告市场疲软 [11] - 内容收入增长8%,主要由于向直播业务的内容授权增加 [11] 直播业务(DTC) - 直播业务收入基本持平,增长0.2%至24.7亿美元 [11] - 发行收入增长1%,主要由于美国和拉美涨价以及国际用户增长,部分被美国线性用户下降所抵消 [12] - 广告收入大幅增长70%,主要由于Max平台收视增加和广告用户增长 [13] - 内容收入下降46%,主要由于第三方国际授权交易减少 [13] 用户数据 - 公司全球直播用户达9960万,较上季度增加200万 [15] - 其中美国用户增加70万至5270万,国际用户增加130万至4690万 [16] 财务数据 - 销售、管理及行政费用同比下降6.5%至22.3亿美元 [17] - 调整后EBITDA同比下降19.5%至21亿美元 [17] - 经营活动产生的现金流为5.85亿美元,自由现金流为3.9亿美元 [18][19] - 公司一季度营业亏损2.67亿美元 [20] - 公司现金及现金等价物为29.7亿美元,总债务为432亿美元,净负债率为4.1倍 [21][22]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR For the transition period from to Commission File Number: 001-34177 Warner Bros. Discovery, Inc. (Exact name of registrant as specified in its charter) Delaware 35-2333914 (State or other jurisdiction ...

Warner Bros. Discovery, Inc. (NASDAQ:WBD) Q1 2024 Earnings Conference Call May 9, 2024 8:00 AM ET Company Participants David Zaslav - President, Chief Executive Officer Gunnar Wiedenfels - Chief Financial Officer JB Perrette - CEO and President, Global Streaming and Games. Andrew Slabin - Executive Vice President, Global Investor Strategy Conference Call Participants Bryan Kraft - Deutsche Bank Kutgun Maral - Evercore ISI Jessica Reif Ehrlich - BOA Securities David Joyce - Seaport Research Partners Kanna ...

UPDATE—May 9, 2024: This article has been updated to reflect more recent share price information.Key TakeawaysWarner Bros. Discovery's revenue fell more than estimated in the first quarter and the entertainment conglomerate reported a wider-than-expected net loss.Shares seesawed in early trading Thursday following the release. Ongoing negotiations with the NBA over the league's next broadcasting deal, along with a streaming bundle partnership with Disney the companies announced Wednesday, could substantial ...