LET’S GO BACK TO WHETHER OR NOT ANY OF THESE WILL GET THROUGH APPROVAL. START WITH PARAMOUNT BUYING WARNER BROTHERS DISCOVERY. DOES IT CUT LEGAL MUSTER.FIONA: ALL THREE OF THE BIDDERS, THERE WAS COMCAST TO BEGIN WITH, HAVE OVERLAPS WITH WARNER BROTHERS. IF YOU THINK ABOUT THREE BUCKETS OF CONTENT PRODUCTION, STREAMING, AND THEN CHANNELS OR NETWORKS. THEY ALL OVERLAP.AND PARAMOUNT IN PARTICULAR HAS A LOT OF PRODUCTION STUDIO KINDS OF ASSETS. PARTICULARLY BECAUSE PARAMOUNT MERGED WITH SKYDANCE FIRST. THAT’S A ...

The fight will stream live on Netflix and comes more than a year after the streaming platform shattered viewership records airing a fight between Paul and Mike Tyson.https://t.co/dpP8aV8txd https://t.co/9Ml22B8nUm ...

iHeartMedia Conference Summary Company Overview - iHeartMedia is the number one audio company in America, generating approximately $4 billion in annual advertising revenue [4][5] - Revenue composition: about $2.7-$2.8 billion from the multi-platform group (broadcast radio and network business) and about $1.2-$1.3 billion from the digital audio group (podcasting, streaming, websites) [4][5] - The company owns 850 radio stations and operates in 150 cities, reaching approximately 273 million people in the U.S. [4][5] Industry Insights - Broadcast radio listening has increased over the past 10-20 years, contrary to perceptions of decline in traditional media [6][8] - iHeartMedia's audience remains resilient compared to declining viewership in ad-supported television and print media [8][9] - The company believes in the monetization of consumer relationships and has a strategic advantage with a large sales force across the country [9][10] Revenue Challenges - Revenue shrinkage is attributed to economic challenges and advertising recession rather than a decline in listenership [10][11] - iHeartMedia expects the multi-platform group to return to low single-digit revenue growth due to audience resiliency and efficiency [14][20] Digital Transformation - iHeartMedia is implementing a digital programmatic initiative to allow advertisers to buy broadcast inventory similarly to digital ads, enhancing scalability and ease of purchase [16][17] - The total addressable market (TAM) for digital entertainment is estimated at $250-$300 billion, with iHeartMedia aiming to capture a share of this market [18][19] Podcasting Growth - Podcasting is the primary growth driver for iHeartMedia, with projected revenue of $550 million in 2025, up from $50 million in 2019, reflecting a 22% growth rate [21][23] - iHeartMedia is the largest podcast publisher in the U.S., surpassing the combined revenue of its closest competitors [22][23] - The company emphasizes the importance of promoting podcasts through its broadcast channels to maximize audience reach [24][25] Cost Management and Efficiency - iHeartMedia has implemented a $150 million cost reduction program for 2025 and an additional $50 million for 2026, focusing on efficiency across both multi-platform and digital groups [31][32] - The company has reduced its workforce from 13,000 to 8,500 and cut office space from 4 million sq ft to 2 million sq ft [36] Financial Position - iHeartMedia aims to reduce its leverage ratio to 3-3.5 times EBITDA, currently standing at approximately 5.5-6 times [37][38] Future Outlook - The company is optimistic about its digital transformation, with broadcast inventory now being sold programmatically and measured similarly to digital campaigns [40][41] - iHeartMedia anticipates a strong year in political advertising due to the upcoming election cycle [20][42] - The management is focused on creating value for stakeholders through innovative revenue streams and leveraging existing assets [27][42]

I was taking a look at Bloomberg Intelligence, their report out. They crunched the numbers and basically this deal, it's 24 5.2% times forward. If you think about recent studio M&A, it's closer to a range of 15.2% or 15 to 22 times.So you could make the case that this looks expensive and I wonder where you fall. I think everyone needs to keep in mind that Warner's value inside Netflix is exponentially larger than what it might be on a standalone basis. People are valuing the Warner asset as it is today, not ...

Core Viewpoint - Comcast Corporation is a leading global media, entertainment, and telecommunications conglomerate with a market cap of approximately $96.8 billion, operating across various segments including broadband, video services, media networks, streaming, and theme parks [1][2]. Stock Performance - CMCSA stock has decreased by 38.9% from its 52-week high of $43.45 on December 3, 2024, and has seen a 21.1% decline over the past three months, underperforming the Nasdaq Composite's 7.8% increase during the same period [3]. - Year-to-date, CMCSA stock has declined by 29.2% and by 37.7% over the past 52 weeks, lagging behind the Nasdaq's gains of 20.2% in 2025 and 21.1% over the past year [4]. Market Dynamics - The decline in Comcast's share price is attributed to a loss of momentum in its core broadband business due to market saturation, increased competition from fiber and fixed-wireless providers, and a rise in "cord-cutting" [5]. - Rising operating costs have further pressured margins, and the market remains skeptical about near-term growth catalysts [5]. Competitive Position - Despite the challenges, Comcast has outperformed its peer, Charter Communications, which has seen a 41.7% decline in 2025 and a 48.8% drop over the past 52 weeks [6]. - Among 31 analysts covering CMCSA stock, the consensus rating is a "Moderate Buy," with a mean price target of $35.66 indicating a potential upside of 34.2% [6].

might be down a little. That might be why the Dow I'm sorry, but that might be why the Dow is a little bit negative at this point. >> We've got him Disney reporting fourth quarter results just moments ago.We're going to get to walk through all of this. Here's what happened. Earnings at $1.11% a share $0.06% better than estimates.Revenue coming in at $22.5% billion. Now that was slightly below expectations. And as Joe mentioned the man is here.Joining us first on CNBC Hugh Johnson's the Disney CFO. Also with ...

Core Insights - Streaming and experiences profits have increased, leading Disney to announce plans to return more cash to investors [1] Group 1: Financial Performance - Profits from streaming services and experiences have shown significant growth [1] - The company is focusing on enhancing shareholder returns through increased cash distributions [1]

Financial Data and Key Metrics Changes - Total revenue for Q3 2025 decreased by 11.5%, or 5% when excluding the impact of Political, The Daily Wire, and The Dan Bongino Show, consistent with prior guidance [5][18] - EBITDA for the quarter was reported at $16.7 million [18] - Digital revenue increased by 8% year-over-year, excluding the impact of The Daily Wire and Dan Bongino, with Digital Marketing Services growing by 34% [18] Business Line Data and Key Metrics Changes - Broadcast spot revenue market share grew for the third consecutive quarter, indicating strong sales execution and local programming [5] - Digital Marketing Services business saw a 34% year-over-year growth, driven by an 88% increase in new accounts and an 8% increase in campaign order size [7] - Podcasting revenue increased by 15% year-over-year, contributing to an overall digital revenue growth of over 8% when normalized [8] Market Data and Key Metrics Changes - In Dallas, the largest market, the company gained almost 4 points of market share, with total revenue up mid-single digits while peers were down nearly 10% [9] - National advertising environment remained weak, leading to a 27% decline in total network revenue, although market share was gained year-to-date [10] Company Strategy and Development Direction - The company is focused on leveraging core competencies and valuable assets, including a vast audience reach and established client relationships [15] - Plans to launch the Westwood One Sports 24/7 Network to capitalize on strong consumer brand recognition and digital distribution opportunities [11] - Continued investment in Digital Marketing Services is expected to yield strong returns, with a focus on AI-driven projects to enhance efficiency and growth [12][13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing headwinds in the broadcast radio sector but expressed confidence in outperforming peers through strategic execution [15] - The company anticipates continued revenue pacing down mid-single digits, excluding political impacts, and down mid to high teens when including those impacts [12][20] Other Important Information - The company ended the quarter with $90 million in cash and $109 million in total liquidity, with a debt maturity of $697 million [19] - A litigation against Nielsen was acknowledged, with a preliminary injunction hearing scheduled for early December [16] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating a lack of detailed Q&A during the call [21][22]

Core Insights - Consumer confidence decreased in October, with the Conference Board Consumer Confidence Index falling to 94.6 from 95.6 in September, marking the lowest level since spring [1] - There is a notable divergence between current and future economic assessments, particularly across different income groups [1] Consumer Sentiment - The Present Situation Index increased by 1.8 points to 129.3, indicating a more positive appraisal of current business and labor conditions, while the Expectations Index dropped by 2.9 points to 71.5, remaining below the recession concern threshold for the eighth consecutive month [3] - Inflation expectations rose to 5.9% from 5.8% in September, with over half of consumers anticipating higher borrowing costs [4] Income Disparities - Lower-income households, particularly those earning below $75,000, showed sharper declines in confidence, contrasting with improved sentiment among those earning above $200,000 [6] - Labor Economy workers, earning $25 an hour or less, represent about one-third of the U.S. workforce and account for approximately $1.7 trillion in annual consumer spending [6] Economic Impact - A 1% wage change in the Labor Economy segment could impact GDP by about $17 billion, highlighting the sensitivity of consumer spending to wage fluctuations [7] - Confidence among lower-income groups deteriorates more rapidly with rising inflation expectations or stagnant wages [8] Demographic Variations - Economic pressures affect different demographic groups unevenly, with confidence improving among consumers aged 35 to 54, while declining for those younger than 35 and older than 55 [9] Holiday Spending Outlook - Early indicators suggest consumers plan to spend 3.9% less on gifts and 12% less on non-gift items during the holiday season, prioritizing promotions and value [12] - Despite optimism regarding current job and income conditions, persistent weakness in expectations indicates uncertainty as the holiday season approaches [12]

Group 1 - Warner Bros Discovery Inc. has rejected Paramount Skydance Corp.'s initial takeover offer of approximately $20 per share as being too low [1][2] - Paramount has several strategies to pursue Warner Bros., including increasing its bid, going directly to shareholders, or seeking financial backing [2][4] - Warner Bros. shares closed at $17.10, giving it a market value of $42.3 billion, while Paramount shares were valued at $17, totaling $18.6 billion [3] Group 2 - David Ellison, who took over Paramount after an $8 billion merger with Skydance Media, is exploring options for the acquisition of Warner Bros. [3][4] - Paramount is in discussions with Apollo Global Management for potential financial support in its bid for Warner Bros. [4] - Warner Bros. plans to split into two distinct businesses focused on cable TV and streaming/studios, which is expected to be completed next year [4][5] Group 3 - Warner Bros. CEO David Zaslav believes that separating the streaming and studios businesses from the cable networks will yield a significant premium [5] - Ellison must persuade Zaslav that selling before the separation does not result in a loss of potential value [5]