Warner Brothers Discovery will split company to build streaming
The move, which reallocates assets such as HBO Max and CNN, is the latest reflection of how streaming is remaking a media business in which Warner Brothers Discovery and other legacy players traditionally garnered considerable revenues from "bundled" cable products that many consumers are now eschewing in favor of a la carte streaming purchases.
The "Streaming & Studios" company will include the libraries of HBO and Warner Brothers, studio production facilities in California and Britain, and tours and experiences. The venture will focus on growing HBO Max, now in 77 markets, said the company's press release.
The "Global Networks" company will house Discovery, as well as CNN and TNT Sports, which are known for coverage of live events. Assets in this group currently reach 1.1 billion viewers across 200 countries and territories.
The number of paid US cable subscriptions stood at 66 million in 2024, down 37 percent from 2010, according to industry research firm IBIS World.
Legacy media companies have struggled with the economics of shifting flagship offerings to streaming in a profitable manner.
CNN tried in March 2022 to launch a subscription streaming service before quickly pulling the plug on the venture. However, Warner Brothers has said it will revive the effort this fall.
The split allows Warner Brothers Discovery's streaming offerings "to boost content while not being weighed down by the slower-growth legacy cable business," said Briefing.com.
"The cable channels still throw off decent good cash flow, but are struggling with high debt and declining subscribers as more consumers cut the cord."
Media industry reinvention
Warner Brothers Discovery CEO David Zaslav will serve as chief of streaming, while Warner Brothers Discovery Chief Financial Officer Gunnar Wiedenfels will lead global networks.
"By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today's evolving media landscape," Zaslav said.
Earlier this month, shareholders voted down Zaslav's pay package in a reflection of investor discontent with the company's performance. The vote was non-binding.
In a conference call with analysts, Zaslav said he was committed to the global buildout of HBO Max, describing it as the "highest quality streaming service in the world" thanks to acclaimed titles such as "Succession," "The White Lotus" and "The Sopranos."
Upcoming launches include Britain, Ireland, Germany and Italy, executives said on a conference call with analysts.
Warner Brothers Discovery's plan to split itself up comes after Comcast in November announced it would spin off cable television channels, including CNBC and MSNBC, into a new company.
Disney has so far established streaming platforms such as Disney+, while discussing a new streaming service for its ESPN sports platform. The company has not spun off its legacy channels.
Warner Brothers Discovery said the transaction was subject to closing conditions, including a ruling from US tax authorities that the restructuring was tax-free.
Shares of Warner Brothers Discovery were down 2.2 percent in afternoon trading after surging in the morning.
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France 24
25-06-2025
- France 24
Sean Combs trial: Takeaways from testimony
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Jurors have repeatedly watched disturbing surveillance footage of Combs brutally beating and dragging Ventura, a video already seared into the public consciousness after CNN published it last year. A former assistant of Combs testified under the name Mia, and described trying to protect Ventura from Combs's fits of rage. Mia told jurors she personally endured abuse, including rape, from Combs. A third woman, Jane, also testified of orchestrated sex parties with paid escorts. She said she felt "obligated" to acquiesce to Combs's desires, for "fear of losing the roof over my head" that he was bankrolling. Bad Boy Entertainment or criminal enterprise? Prosecutors say Combs headed a criminal organization that enforced his power with myriad crimes including forced labor, kidnapping, bribery, witness tampering and arson. The Racketeer Influenced and Corrupt Organizations Act, known by its acronym RICO, encompasses 35 specific offenses, including the aforementioned crimes. Prosecutors must prove a criminal pattern involving at least two of them. Government attorneys, who must also show the existence of an enterprise, say Combs's sprawling music, fashion and business empire doubled as a criminal ring that included some high-ranking associates and other employees. Through testimony and evidence, prosecutors have suggested that Combs's chief of staff and his head of security were both key to the alleged enterprise -- but neither were called to the stand, nor have they been charged publicly. Many witnesses, including former assistants, were given immunity orders so they could speak truthfully without fear of incriminating themselves. The digital footprint Records of private messages have played a major role in the prosecution's case, a reflection of the paper trail that accompanies society's dependence on digital communication. The government's evidence included thousands of pages of phone and text records, and hours of testimony involved meticulous readings of some of the most explicit and wrenching exchanges. Combs's relationship with Ventura lasted from around 2007-2018, and records included many texts as well as e-mails. The testimony of Jane, a girlfriend of Combs from 2021-2024, was grounded in voluminous text conversations as well as audio voice messages and diaristic entries into her Notes app. Many of those records appear to indicate distress on the part of the alleged victims. But a lot of the messages also show affection and desire -- texts the defense underscored again and again. Jurors have seen video evidence of the sex parties prosecutors say were criminal, while the defense has exhibited exchanges they said imply consent. Also in evidence are reams of financial records -- including CashApp payments to escorts -- as well as flight and hotel records. Coercion versus consent Core to the prosecution's case is a question of coercion versus consent: were the alleged victims in the case coerced, forced or fraudently made to engage in drug-addled sex marathons under threat of harm -- or were they knowing and willing participants? In its opening statements, the defense said Combs's accusers are "capable, strong adult women." "Being a willing participant in your own sex life is not sex trafficking," said lawyer Teny Geragos. Ventura and Jane both said they experienced emotional manipulation and threats that were reputational, financial and physical. And a forensic psychologist explained to jurors how the tactics of abusers can keep victims from leaving relationships. Celebrities, influencers and the online gossip machine Jurors are instructed every day not to consume media about the case -- a mighty task, as news of the trial has permeated media ecosystems and social platforms. Dozens of news organizations are covering the trial, along with enthusiastic content creators cashing in on the internet's desire for hot takes and celebrity gossip. Combs is incarcerated and does not enter or exit the courthouse publicly. But some of the high-profile attendees and witnesses do, including members of the music mogul's family and figures like Kid Cudi, the rapper who testified that Combs's entourage torched his car. And the brief cameo of Ye, who stopped by to lend his "support" to Combs, was a particular field day for the chronically online.
Euronews
23-06-2025
- Euronews
All you need to know about the Jeff Bezos-Lauren Sánchez wedding
The high-profile wedding of Amazon founder Jeff Bezos and former TV journalist Lauren Sánchez takes place in Venice this week. Since their engagement in May 2023, the couple, 61 and 55 respectively, have dominated headlines and there has been plenty of speculation about the date, location and the guest list for their extravagant nuptials. Already compared to 2024's lavish Ambani wedding, here's everything we know about this week's event – which has been described as the 'wedding of the century'. When is the wedding? The wedding will take place from 24-26 June, though some reports have claimed it could be from 26-29 June. Where is it taking place? Venice, Italy. Otherwise, hard to say. Some outlets are reporting that the couple are getting married on the private island of San Giorgio Maggiore. Conversely, a spokesperson for Luigi Brugnaro, the mayor of Venice, told CNN in March that the wedding will take place on Bezos' $500 million, 417-foot superyacht – known as the Koru. Then the 'No Space For Bezos', a local group protesting the event, said the wedding will take place in the historic Scuola Grande della Misericordia, a 14th century charity building. The location previously played host to a papal conclave in 1799, as well as a G7 summit in 1987. How many people are attending? Venice officials have said the guest list for Bezos and Sánchez's wedding is limited to 200 people. Which celebrities are showing up? Hard to be sure, but TMZ reported that celebrities on the guest list include Kim Kardashian, Kris Jenner, Oprah Winfrey, Bill Gates, Ivanka Trump and Jared Kushner, Beyoncé and Jay-Z, as well as Sánchez's fellow space travellers Katy Perry and Gayle King. Other Hollywood heavyweights could include Leonardo DiCaprio and Eva Longoria, while there are rumours Mick Jagger will also be in attendance. Jordan's Queen Rania will officially make this a 'royal wedding'. Guests who attended Sánchez's bachelorette party in Paris in May included Jenner, Kardashian, Perry, Eva Longoria, philanthropist Natasha Poonawalla and Fox Sports host Charissa Thompson. Any entertainment? Word is that Elton John and Lady Gaga have been asked to perform. No confirmation. Who is organising? London-based group Lanza & Baucina, which also planned George and Amal Clooney's 2014 wedding in Venice. What will the bride wear? Anna Wintour has reportedly been helping out. She recommended Sánchez wear an Oscar de la Renta gown to the Met Gala, so there's every chance we'll see more of that. Plus, the couple has been spotted at the Dolce & Gabbana store in Milan, so it's likely the brand's designs will make an appearance. Whatever the brands, Sánchez has a rumoured 27 outfit changes for the three-day nuptials. Where are the couple staying? Bezos and Sánchez are rumoured to be staying at the Aman, on the Grand Canal – the same location where the Clooneys were married. Rooms range from more than $3,000 to $32,000 nightly. According to Italian media, five of Venice's most luxurious hotels have been booked for the guests. What's the price tag for this extravaganza? The couple is said to be spending between $7million - $10 million for the three days. Maybe more. According to Forbes' estimates, Bezos' net worth is at $225 billion - making him the fourth-wealthiest person in the world behind Elon Musk ($407.4 billion), Larry Ellison ($251.9 billion) and Mark Zuckerberg ($236.5 billion). So, $10 million won't dent the budget too much. Why the protests? Venice has always had to deal with overtourism, which strains the city's infrastructure. The 'No Space For Bezos' activists are protesting the wedding as they fear the sheer scale of the event will exacerbate the issues created by an excess of tourism. Furthermore, the wedding is seen as a way for the city to be exploited by the ultra-rich, without care or consideration for the locals. It hasn't helped that many guests are flying into Venice on private jets, and therefore racking up a significant carbon footprint, and that Bezos has reportedly reserved a fleet of gondolas and water taxis. Banners and stickers have been plastered throughout the city, and protesters are threatening to block access to the canals and streets. All in a peaceful way, they stressed. Oliviero Cassarà, a lead organizer and activist, said in a statement that 'No Space For Bezos' has zero issue with Americans or people getting married in Venice. However, Cassarà said: 'Bezos supported Trump economically and politically and is consequently co- responsible for this drift against us Italian and European citizens.' While protesters state that they do not have an issue with the marriage itself, the common feeling is that the famously sinking city is being privatized and exploited. How have the protests been met? The mayor of Venice has tried to reassure protesters and stated that Venice is capable of hosting the event. He cited the Venice Film Festival and G7 Summit as examples. Brugnaro also said he was 'ashamed of those who behave like this,' Variety reported - in reference to the protesters. However, the Bezos nuptials continue to be compared by the majority to the aforementioned Ambani wedding, which was widely described as an 'affront' to Mumbai residents living in poverty. One thing's for sure: Venice will be brought to a standstill this week and when the world's fourth richest man comes to town, the concerns of many are outweighed by the mega-wallets of the few.
Euronews
19-06-2025
- Euronews
What is the US ‘bunker bomb' that could be deployed in Iran?
The use of a powerful American 'bunker bomb' against Iran's nuclear facilities continues to weigh over the country's conflict with Israel. CNN reported that US President Donald Trump is warming to the idea of using military assets to strike Iranian nuclear facilities and that he is 'not much in the mood to negotiate with Iran'. One of the potential weapons that the US military has at its disposal, the GBU-57 A/B Massive Ordnance Penetrator (MOP), could reach one of Iran's key nuclear sites, which is buried deep in a mountain. Iran's deputy foreign minister, Kazem Gharibabadi, said on state TV on Thursday that Iran 'will have to use its tools to both teach a lesson to aggressors and defend its national security and national interests,' if the US decides to intervene in the conflict. The GBU-57 MOP is a weapons system that is designed to attack 'hard and deeply buried targets such as bunkers and tunnels,' according to a 2024 US Air Force report. An archived fact sheetfrom the US Defense Threat Reduction Agency (DTRA) says it is a '30,000 pound (13.6 tonnes) class penetrator bomb,' that is approximately 20.5 feet long and has a diameter of 31.5 inches. The DTRA said the weapon can carry over 5,300 pounds of explosive material and delivers '10 times' the explosive power of its predecessor, the BLU-109. The Air Force Research Laboratory (AFRL) first contracted Boeing for the MOPs in 2004 with an initial contract worth $30 million (€26.2 million). The weapon was developed in three stages, the DTRA continued. The Air Force received the first bombs for testing in 2011, according to a report from the San Francisco Chronicle. The ordnance has been tested at the White Sands Missile Range, a military base in the US state of New Mexico. The Fordo Fuel Enrichment Plant (FFEP) is buried deep under a mountain near Qom, Iran, and is believed to be one of Iran's key uranium enrichment facilities for it's nuclear weapons programme, according to Heather Williams, director of the project on nuclear issues at US-based Center for Strategic & International Studies (CSIS). Rafael Mariano Grossi, the IAEA's director general, said on June 16 that there is so far no damage to the Fordo site, unlike the one at Natanz, which saw its pilot fuel enrichment plant destroyed. A recent report from the International Atomic Energy Agency (IAEA) estimates that 166.6 kilograms of 60 per cent enriched uranium of the total 408.6 kilograms that Iran has at that enrichment percentage was produced at Fordow. Uranium needs to be enriched to roughly 90 per cent to become a nuclear weapon but experts have previously said that Iran could create weapons at 60 per cent enrichment. Israel lacks the ordnance to take out Fordow on its own, but 'multiple strikes' from the US GBU-57 that are mounted on B-2 bombers 'could destroy the facility,' Williams said. If President Trump decides to use the GBU-57, it could 'constitute direct support for Israel and have the potential to escalate and drag the US into another war in the region,' Williams wrote. There are other options that Israel could use to get to Fordo, Williams continued, like continual strikes at the facility by GPU-28 or BLU-109 weapons that can burrow into a target and could target above-ground entrances or exits to the facility. As the conflict between Israel and Iran approaches the first-week mark, both countries are leaning into cyberspace to launch attacks. A possible Israeli-linked hacking group has claimed responsibility for disrupting operations at an Iranian bank and flooding the crypto market with approximately $90 million (€77 million) in stolen funds. Meanwhile, Israeli officials reported fake messages sent to the public alerting them of terrorist attacks against bomb shelters to sow panic. Both countries are also known for having a long history of cyberattacks against each other, according to US-based cybersecurity firm Radware. 'In the days since the fighting began, government-backed hackers, patriotic hacktivists, online propagandists, and opportunistic cybercriminals have all been active,' the company said in its threat alert dated June 18. The anti-Iranian hacking group with possible ties to Israel,Gonjeshke Darande, or 'Predatory Sparrow,' claimed an attack on one of Iran's most prominent banks, Bank Sepah, this week, according to a statement they published on X. Iranian media reported at the time that people had difficulties accessing their accounts, withdrawing cash or using their bank cards. The US Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned Bank Sepah in 2018 for supporting Iran's military. The hacking group then went after Nobitex, one of Iran's main cryptocurrency exchanges. The group claimed they burned $90 million from accounts that belong to the Israeli regime and, by Thursday morning, had posted the source code for the platform. In a statement on X posted on Wednesday, Nobitex claimed that the assets were transferred to a wallet 'composed of arbitrary characters,' an approach they say 'deviates significantly from conventional crypto exchange hacks'. 'It is clear the intention behind this attack was to harm the peace of mind and assets of our fellow citizens under false pretences,' Nobitex wrote. Nobitex estimates the amount stolen is closer to $100 million (€87 million) The Iranian government has asked people to delete the social messaging app WhatsApp and has begun internet blackouts that have taken the country offline for 'over 12 hours' due to 'Israel's alleged 'misuse' of the network for military purposes,' according to internet monitoring companies Netblocks and Censys. Iran's Tasnim News Agency, a news service associated with the Iranian military, claimed the Internet blackouts are 'temporary' due to the 'special conditions of the country,' and that it will come back when the 'situation returns to normal'. Gonjeshke Darande has been linked to other cyber attacks in Iran, like the 2010 Stuxnet attack. Stuxnet was a computer virus that damaged or destroyed the centrifuges, a key component used to enrich uranium, at Iran's uranium enrichment facilities in Natanz, one of the facilities targeted in the recent missile fire from Israel. US media reports believe Stuxnet was carried out by Israel with support from the United States, who built the program. It's also believed that Israel's Defence Forces Unit 8200 was involved in the attack, according to Reuters. Gonjeshke Darande has also taken credit for other cyber attacks against Iran, such as the 2022 attack on Iran's steel plants and the 2023 attack on gas stations. At the time of the steel plant cyber attacks, Gonjeshke Darande released on social media what they called 'top secret documents and tens of thousands of emails' from Iran's three leading companies to show how the firms were working with the Islamic Revolutionary Guard Corps, a primary branch of Iran's military. Israeli media reported people receiving fraudulent text messages claiming to come from the Israeli Defence Forces (IDF) Home Front Command that warned of attacks onbomb shelters. The messages from OREFAlert were identified as fake by the Israeli authorities, who claim pro-Iranian groups are behind it as a way to sow panic during the operation against the Iranian military, called Operation Rising Lion. Another fake message circulated that said fuel supplies would be suspended for 24 hours, according to the Jerusalem Post. Ron Meyran, the VP of Cyber Threat Intelligence at US-based cybersecurity firm Radware, told the newspaper that there was a 700 per cent increase in cyberattacks against Israel in the first two days of the conflict with Iran, which comes from cyber retaliation from Iranian state actors. Those actions include infiltration attempts targeting critical infrastructure, data theft and malware distribution, Meyran added. Euronews Next reached out to Radware to independently confirm these numbers but did not hear back at the time of publication. A report from Radware says it expects Iran to make use of 'its well-developed network of fake social media personas to shape perceptions of the conflict.' 'During this crisis, observers have seen pro-Iran bot accounts amplifying hashtags about alleged Israeli atrocities and portraying Iran's actions as defensive,' the report said. The bots 'frequently pose as ordinary citizens to make the messaging more persuasive,' it added. Radware also noted in its report that at least 60 of the 100 hacktivist groups that have sprung up since the start of the conflict last week are pro-Iran and are either from the Middle East or Asia. These groups have launched 30 denial of service (DDos) attacks per day against Israel that disrupt normal traffic to a website, Radware found. Some of these groups have also threatened cyber attacks against the United Kingdom and the United States if leadership there decides to 'join the war against Iran'. Iran has a 'considerable number' of state-sponsored threat groups that have targeted Israel in the past, like Muddy Water, APT35 (OilRig), APT35 (Charming Kitten) and APT39 (Remix Kitten), the Radware report continued. These groups, with the help of Iran's Islamic Revolutionary Guard Corps, have targeted Israeli infrastructure, conducted malware campaigns and cyberespionage according to local media. These cyber attacks increased following the start of the conflict between Israel and Hamas in Gaza in 2023, according to a 2024 report by Microsoft.
