华纳兄弟表示，Midjourney无权使用或售卖其角色形象的衍生作品。目前，已有用户将这些AI生成的角 色图像发布至Reddit、Discord、Instagram等社交平台，且华纳兄弟指出，Midjourney还利用这些内容进 行商业推广。基于此，华纳兄弟要求Midjourney就每起侵权行为支付最高15万美元的赔偿金。 智通财经APP获悉，华纳兄弟探索频道(WBD.US)已对人工智能(AI)初创公司Midjourney提起诉讼，指控 其侵犯知识产权。诉状称，Midjourney未经授权，允许用户生成神奇女侠、超人等影视角色的图像及视 频内容。 总部位于美国旧金山的Midjourney提供订阅制AI图像生成服务，用户可通过该服务借助AI技术创作图像 与短视频。在此次诉讼中，华纳兄弟提交了据称由Midjourney技术生成的相关图像作为证据，其中包 括"超人看手机"、"蝙蝠侠与《星球大战》角色R2-D2同框摆拍"等画面。 截至目前，Midjourney尚未就此事作出回应。 此次诉讼与今年6月迪士尼(DIS.US)及康卡斯特(CMCSA.US)旗下环球影业对Midjourney提起的诉讼性质 相似。与ChatG ...

Warner Bros. Discovery is the latest legacy media company to challenge the use of its content in generative AI, filing suit against Midjourney, claiming that the company is engaged in the “theft” of its intellectual property. With the lawsuit, filed in U.S. District Court in Los Angeles on Thursday, WBD is joining The Walt Disney Co. and NBCUniversal in challenging Midjourney’s use of their content. WBD’s attorneys wrote in the lawsuit, “Midjourney thinks it is above the law. It sells a commercial subscrip ...

即将担任探索业务首席执行官的他强调，华纳兄弟致力于打造"两家极具发展潜力的企业"，现任华纳兄 弟CEO大卫·扎斯拉夫将领导影视工作室与流媒体业务。 针对康卡斯特等企业分拆传统电视网络的行业趋势，维登费尔斯表示："我们将评估所有选项，但始终 秉持审慎原则，以真正价值创造机会为决策导向。" 6 月 9 日，华纳兄弟宣布将通过免税交易拆分为两家上市公司，即 Streaming & Studios(S&S)和 Global Networks(GN)。 Streaming & Studios 涵盖华纳兄弟电视、电影集团、DC工作室、游戏部门、HBO 及 HBO Max 以及电 视电影库等核心资产。美银将其视为媒体领域 "皇冠上的明珠"，其知识产权和内容库价值因过往沉重 债务负担及传统有线电视业务挑战而被掩盖。拆分后，该业务板块有望摆脱债务掣肘，激发增长潜力， 对寻求扩展规模的收购方而言或具强大吸引力。 Global Networks 则包含全球范围内的线性娱乐、体育和新闻电视频道等资产。尽管市场对传统线性电 视业务持悲观态度，但美银指出，若以合适资本结构和管理团队运营，在当前估值水平下，该业务仍具 未被充分认识的股权价 ...

Question-and-Answer SessionHowever, as you've done that, the industry continued to evolve and change. So you've announced plans to split the company into Warner Bros. and Discovery Global, where you will be the CEO. What is the time line of the split?Let's focus a little bit on Warner Media and Discovery first, but it's been 3 years since the merger, and you spent a great deal of that time restructuring, transforming, realigning the company across every single division. You've accomplished a great deal.Gunn ...

Summary of Warner Bros. Discovery (WBD) 2025 Conference Call Company Overview - **Company**: Warner Bros. Discovery (WBD) - **Event**: 2025 Conference Call - **Date**: September 03, 2025 Key Points Company Split and Structure - WBD plans to split into two entities: Warner Brothers and Discovery Global, with a target completion in Q2 2026 [2][3][4] - The split is seen as a significant value creation opportunity, with ongoing momentum in business fundamentals [4][5] Financial Performance and Debt Management - Current net debt stands at approximately $30 billion, with expectations to reduce this significantly by year-end [5] - The company has successfully executed a tender offer to aid in deleveraging [5] - Financial guidance includes at least $2.4 billion for the studio and $1.3 billion for streaming for the year [9] Creative and Operational Success - The film division has achieved six successful openings, generating around $40 million each [8] - The studio aims for a target of $3 billion in EBITDA potential, indicating room for further growth beyond this interim goal [15][16] - The management emphasizes a disciplined approach to budgeting and production, leading to cost savings and improved profitability [21][23] Streaming and Content Strategy - HBO Max is expected to achieve a long-term margin potential of over 20%, with a focus on customer lifetime value versus subscriber acquisition cost [29] - The company is exploring various pricing strategies, including wholesale agreements to drive subscriber growth [35] - There is a significant opportunity in advertising, particularly in international markets [44] Future Opportunities and Market Position - The company sees potential in international markets, particularly in Europe, where it has established strong positions [52][64] - WBD is focused on leveraging its valuable content brands beyond traditional linear networks, exploring digital expansion and new monetization strategies [51][52] - The management is optimistic about the DC franchise, viewing it as undervalued with significant potential for growth [24][26] Challenges and Industry Trends - The industry is shifting towards profitability, which is seen as a positive trend for sustainability [27] - There are anticipated increases in sports rights costs, with an expected $300 million increase in 2025 [65] - The company is cautious about potential consolidation in the direct-to-consumer (DTC) space, emphasizing a disciplined approach to any opportunities [39][63] Upcoming Milestones - Key milestones for investors include the completion of the company split and the launch of new streaming products, particularly in the UK, Italy, and Germany [38][70] - The management plans to provide more detailed strategies and financial projections closer to the separation date in Q2 2026 [72] Additional Insights - The management team expresses high energy and excitement about the future, focusing on growth opportunities that were previously overlooked as part of a larger conglomerate [49] - The emphasis on quality over quantity in content production is a core part of the strategy moving forward [42]

NEW YORK, Aug. 20, 2025 /PRNewswire/ -- Warner Bros. Discovery, Inc. (Nasdaq: WBD) today announced that its President and CEO David Zaslav and its Chief Financial Officer Gunnar Wiedenfels will present at conferences during the month of September. About Warner Bros. Discovery: Warner Bros. Discovery is a leading global media and entertainment company that creates and distributes the world's most differentiated and complete portfolio of branded content across television, film, streaming and gaming. Warner Br ...

张钢的办公室里贴满了他为《猫和老鼠：星盘奇缘》（以下简称《星盘奇缘》）设计的分镜照片，能容纳30人的办公室里密密麻麻摆满了电脑。五年来这 些电脑的"主人"们没有休过完整的周末，如今电影上映，他们终于能放一次大假了。 在电影制作的五年间，墙面上张贴的这几百张分镜曾让张钢十分痛苦。作为导演，他甚至一度担心这个项目"黄了"，好在最终它们都出现在了华纳兄弟与 中影集团联合投拍的《猫和老鼠》大电影——《星盘奇缘》中。 导演办公室贴的分镜图。摄影：李晓天 5年前，他离开了号称国内动画电影行业"黄埔军校"的青青树动画，创立初心映画，头一年就收到了华纳兄弟要投拍《猫和老鼠》大电影的消息。彼时国 内动画电影行业尚未出现《哪吒》系列，一切都还在萌发阶段。 在他看来，这不仅是一个为公司谋发展的绝佳机会，更是一个去海外"秀肌肉"的舞台，"过去几年中国的动画电影制作已经很成熟了，跟我们合作的工作 室也攒着劲想让外国人看看水平。"张钢说。 但他和制片人杨劭靖都没料到这条路这么难，跟国际头部公司合作，此前并没有多少可参考的范例，甚至于连付款流程都要去摸索，更别说期间还经历了 华纳兄弟组织架构调整等临时状况。 到今年8月2日上映，张钢数次悬 ...

Group 1 - Warner Bros. Discovery (NASDAQ: WBD) reported earnings and has fallen below a $30 billion market cap [2] - Despite the decline in market cap, the company has outperformed the S&P 500 since the last investment recommendation [2] - The Value Portfolio focuses on building retirement portfolios through a fact-based research strategy, including analysis of 10Ks, analyst commentary, and market reports [2]

Core Viewpoint - Warner Bros. Discovery (WBD) reported its fiscal second-quarter results, showing mixed performance with revenue slightly missing analyst expectations but earnings per share exceeding forecasts [1][3][7]. Financial Performance - WBD's quarterly revenue was $9.81 billion, flat year-on-year, missing the consensus estimate of $9.72 billion [1] - Earnings per share (EPS) was reported at $0.63, surpassing the analyst consensus estimate of a 22-cent loss [1] - Adjusted EBITDA increased by 9% to $1.9 billion, exceeding expectations by 8% [3] Revenue Breakdown - Studio revenue surged 55% to $3.8 billion, with adjusted EBITDA of $863 million, driven by successful theatrical releases [4] - Global Linear Networks revenue fell 9% to $4.8 billion, while Streaming revenue grew 9% to $2.8 billion, generating $293 million in adjusted EBITDA compared to a loss in the previous year [4] Subscriber Growth - Streaming subscribers increased by 22% year-over-year to 125.7 million, with 57.8 million in the U.S. and 67.9 million internationally, achieving an average revenue per user (ARPU) of $7.14 [5] Future Guidance - WBD reaffirmed its 2025 streaming adjusted EBITDA guidance of at least $1.3 billion [5] - Analyst projections for 2025 include revenue of $38.1 billion, adjusted EBITDA of $8.9 billion, and EPS of $0.36 [6] - For 2026, revenue is forecasted at $38.2 billion, adjusted EBITDA at $9 billion, and a loss per share of $0.35 [6] Analyst Ratings - Needham analyst Laura Martin maintained a Hold rating on WBD, while Bank of America Securities analyst Jessica Reif Ehrlich maintained a Buy rating with a price target of $16 [2] Market Reaction - Following the results, WBD's stock traded lower by 4.72% to $11.30 [11]

Analyst's Disclosure:I/we have a beneficial long position in the shares of WBD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Disclaimer: I am not an investment advisor and this is not a recommendation to buy or sell a security. Investors are recommended to read all of ...