Discovery+ Economics Justify Continuing It As A Stand-Alone Streamer After Launch Of Merged HBO Max Offering, WBD CEO David Zaslav Says: “Why Would We Shut That Off?”

The power of a wide theatrical release was realized this weekend by streamer Amazon in its pivot back to the big screen with MGM/United Artists Releasing’s Creed III. It easily minted the best opening ever for the Seattle-based parent, as well as for the Rocky franchise, with $58.6M domestic, $100.4M worldwide.

Ellise Shafer HBO Max will host its own coffeehouse at SXSW this year, featuring events centered around the streamer’s popular titles like “The Last of Us” and “The White Lotus.” The two-day activation is presented by HBO Max’s Human by Orientation and Pa’lante initiatives, which are designed to “elevate and celebrate the LGBTQIA+ and Latinx communities,” according to a press release. The coffeehouse will be open to the public on March 11 from 10 a.m. to 7 p.m., and on March 12 from 1 p.m. to 4 p.m. The coffeehouse will host both invite-only and public events, including a HBO documentary filmmaker roundtable, “The Last of Us” fireside chat with Gabriel Luna and Variety‘s Selome Hailu, an acoustic performance by Ambar Lucid, a queer cocktail party and “The White Lotus” discussion with writer Evan Ross Katz and Variety‘s Adam B. Vary.

EXCLUSIVE: Sing Again, a Korean singing competition series that’s outperformed The Masked Singer and I Can See Your Voice, has landed a third season on the JTBC network and Discovery+.

Foxtel Group and Warner Bros Discovery have renewed their multi-year content agreement, under which the Australian pay-TV operator and streamer will remain the home of HBO, Max Originals, Warner Bros and Discovery programming in Australia.

Katherine Tulich Australian pay-TV Foxtel Group has held on to its top HBO programming hits, “House of the Dragon,” “The Last of Us,” “Succession” and “The White Lotus” with the Wednesday announcement of a renewed content supply deal. Foxtel will remain the Australian home of HBO, Max Originals, Warner Bros. and Discovery content. The pact between Foxtel and Warner Bros. Discovery is touted as “a multi-year, multi-faceted content and platform agreement” that reflects the evolution of Foxtel from legacy pay-TV operator into a streaming player. It also allows further wiggle room as circumstances continue to change.

Naman Ramachandran Disney’s “Ant-Man And The Wasp: Quantumania” continued atop the U.K. and Ireland box office for the second weekend in a row with £3.04 million ($3.6 million), according to numbers from Comscore. In its fourth weekend, Universal’s “Puss In Boots: The Last Wish” collected £1.7 million in second place for a total of £20.4 million. Another Universal title, Elizabeth Banks’ “Cocaine Bear,” debuted in third position with £1.5 million. Studiocanal’s “What’s Love Got to Do with It?” debuted in fourth place with £1.08 million. Rounding off the top five was Warner Bros.’ “Magic Mike’s Last Dance” that earned £470,020 in its third weekend for a total of £4.9 million.

Warner Bros. Discovery Inc. is suing Paramount Global, saying its competitor aired new episodes of the popular animated comedy series “South Park” after Warner paid for exclusive rights.

Academy Award winner Helen Mirren has gotten candid about her experience on Shazam! Fury of the Gods, discussing everything from an on-set injury to her struggle to bear the weight of her costumes and her limited understanding of what the DC superhero pic is actually about.

“Screw you guys, we’re going to sue,” a Cartman paraphrasing Warner Bros Discovery essentially said to Paramount Global and the series creators today in a scathing lawsuit over South Park streaming rights.

,” HBO Max said in a statement to TheWrap.Warner Bros. Discovery claims that Paramount’s priorities “changed drastically” upon the launch of Paramount+ in 2021, resulting in a “multi-year scheme to unfairly take advantage” of the former conglomerate by breaching its agreement and “stealing its content.”Per the 2019 agreement, where Warner/HBO outbid others in a competitive situation to garner the exclusive rights to the series, the company acquired the series’ entire catalog (23 seasons at the time) in addition to three new installments, totaling more than 300 episodes.

Gene Maddaus Senior Media Writer HBO Max’s parent company has filed a lawsuit that accuses Paramount Global of reneging on parts of the $500 million licensing deal set in 2019 for the streaming rights to episodes of “South Park.” The suit, filed Friday in New York state Supreme Court, asserts that Paramount breached the contract by steering “South Park” specials and other content to its own Paramount+ platform. The suit alleges that Paramount “blatantly intended to prop up Paramount+ at the expense of Warner/HBO,” and that Paramount engaged in “multiple and flagrant duplicitous contortions of fact and breaches of contract.”

Yesterday, it was revealed that Warner Bros. Discovery (and its New Line studio) and Embracer Group have hammered out a deal to make more “Lord of the Rings” films in the future.

Middle Earth is returning to the big screen.

While the box office climbed out of its August/September slump during the final quarter of 2022, Cinemark still reported a quarterly loss of $99.3 million, or 82 cents per share, amid a sluggish Thanksgiving holiday and a Christmas hampered by winter storms throughout much of the U.S.Cinemark reported quarterly revenue of $599.7 million, a 10% drop from last year’s $666.7 million, and well below Q3’s $650 million. The results came in ahead of the average Wall Street estimate for $568.5 million in revenue, according to Zack’s Investment Services.

Brian Steinberg Senior TV Editor David Zaslav sounds tired of taking lumps. After months of cost cutting, write-downs, and getting pilloried among Hollywood natives for killing projects, the Warner Bros. Discovery chief showed off some new truculence, making the case that while his newly-merged company has been having a tough time, so too were others. “‘Last year was a year of restructuring,” said Zaslav, during a call with investors Thursday. “This year will be a year of building.” Over the course of an hour, Zasalv and Gunnar Wiedenfels, Warner’s chief financial officer, made the case that their company was just as well-equipped as any of its rivals — perhaps even more so — to withstand a stormy era during which media companies are pressed to grow their streaming operations but maintain profitability. Zaslav elbowed Netflix for releasing all of the episodes for a program’s cycle all at once; suggested that a move to launch new “Lord of the Rings” movies would take away some of the momentum that Amazon had enjoyed from its launch of a series based on the novels; and told listeners Warner Bros. Discovery could launch an ad-supported streaming service without having to buy an outside asset, as Fox Corp. and Paramount Global had. “We can create a Tubi or a Pluto without having to buy anybody,” he boasted.

earnings call comments suggest that he is even more adamant in this direction. On Thursday, Zaslav spoke about Warner Bros.’ recent strategy to move films greenlit under previous CEO Jason Kilar’s leadership for exclusive release on HBO Max to an exclusive release in theaters before going to the streaming service.

Warner Bros Discovery revenue fell 11% to $11 billion (or a drop of 9% when foreign exchange fluctuations are excluded), mostly due to advertising softness and tough studio comparisons.

Call “2023 will be a year of building,” Warner Bros Discovery boss David Zaslav made a point today on the company’s latest earnings call to sing the praises of CNN’s “more inclusive range of voices and viewpoints.”

Warner Bros. Discovery CFO Gunnar Wiedenfels today predicted the company will hit $4 billion in total cost savings from the merger of Discovery and Warner Media – up from a previous commitment to hit $3.5 billion.

Jennifer Maas TV Business Writer HBO, HBO Max and Discovery+ added 1.1 million subscribers in Q4 to end 2022 with a total of 96.1 million worldwide. That’s up from the 95 million combined global streaming customers Warner Bros. Discovery hit from July 1-Sept. 30, the quarter during which the highly anticipated “Game of Thrones” prequel “House of the Dragon” debuted. During the Oct. 1-Dec. 31 quarter, “House of the Dragon” concluded its first season the second season of HBO’s hot Mike White drama “White Lotus” premiered. Details about the upcoming combined HBO Max-Discovery+ streamer — which does not yet have a name, launch date or pricing details — will be revealed at an April 12 press day.

Brian Steinberg Senior TV Editor Warner Bros. Discovery continued to work on making all its various pieces, merged together last year, into a cohesive whole. The New York owner of the TNT and TBS cable networks, the HBO Max streaming service and the Warner Bros. production studio reported a net loss of $2.1 billion for its fiscal fourth quarter after the company wrote down $1.85 billion in assets and faced nearly $1.2 billion in restructuring expenses. Revenue fell 9%, excluding the results of foreign exchange, and the company saw ad sales decrease 14% as its TV networks, even as it worked to add subscribers to its HBO Max and Discovery+ streaming outlets.

increasing by $1 to $15.99 per month, a change not reflected in the just-reported quarterly results. The hike came as Warner plans to launch a combined, ad-supported offering of HBO Max and Discovery+ later this year at a lower price point.

Warner Bros. Games Hogwarts Legacy, the open-world, action role-playing game has sold more than 12 million units and hit $850 million in sales globally and 280 million hours played in its first two weeks of launch, the company said, confirming a major hit as parent Warner Bros. Discovery prepares to release quarterly earnings shortly.

HBO Max is expanding the world of Stephen King‘s IT with the drama series Welcome To Derry (wt) from Warner Bros. Television and developed for TV by filmmakers Andy Muschietti and Barbara Muschietti (IT, IT Chapter Two) and Jason Fuchs (IT Chapter Two, Wonder Woman).

UPDATED with TCM statement. Warner Bros Discovery’s TCM is officially discontinuing its Underground sub-brand, two months after laying off programmer Millie De Chirico.

Joe Otterson TV Reporter HBO Max is officially moving forward with the “It” prequel series currently titled “Welcome to Derry,” Variety has learned. The show was first reported as being in development in March 2022, while Variety exclusively reported that the project had attached its co-showrunners in November. As previously reported, the series was developed for television by Andy Muschietti, Barbara Muschietti, and Jason Fuchs. “As teenagers, we took turns reading chapters of Stephen King’s ‘It’ until the thick paperback fell to pieces,” said the Muschiettis. “‘It’ is an epic story that contains multitudes, far beyond what we could explore in our ‘It’ movies. We can’t wait to share the depths of Steve’s novel, in all its heart, humor, humanity and horror.”

HBO Max. The streamer announced on Thursday that “Welcome to Derry” has been ordered to series, with “It” and “It: Chapter Two” director Andy Muschietti onboard to executive produce and direct multiple episodes.

Cynthia Littleton Business Editor As the fourth-quarter earnings cycle for Big Media closes today with Warner Bros. Discovery results after the market close, Wall Street will be eagerly looking for green shoots to confirm that the worst is truly over for the newly minted conglomerate. Warner Bros. Discovery shares have been gaining slowly but steadily since the beginning of this year as Team Zaslav hammers the point to investors that the worst of its integration and restructuring pain is behind them. WBD CEO David Zaslav has been ahead of the curve in preaching a return to the business fundamentals that have powered Hollywood for more than a half-century. Disney and Paramount Global delivered results earlier this month that came with sober warnings about streaming losses hitting a peak this year. Zaslav and WBD chief financial officer Gunnar Wiedenfels have promised analysts that the heaviest gusher of investment in HBO Max came in 2022 and that they are now on the path to taking the streamer to the promised land — profitablity — next year.

threadbare release slate and decades-low grosses in August and September. The premium format company reported earnings of $2.6 million or 19 cents per share, an improvement from last quarter’s loss of 3 cents per share and beating projections of 15 cents per share.While Imax’s total box office only reached $177 million in Q3, “Avatar: The Way of Water” alone nearly eclipsed that total with $160 million grossed in Q4.

Michael Schneider Variety Editor at Large Just days after Warner Bros. announced the cancellation of “Judge Mathis” after 24 seasons, Byron Allen’s Allen Media Group has scooped up the services of Judge Greg Mathis to host a new first-run one-hour strip for fall 2023. “Mathis Court with Judge Mathis” has been given a “firm go” by Allen Media Group, which is now pitching the show for broadcast, cable and distribution platforms.In addition to broadcast syndication, the show will join Allen Media Group’s eight court series are carried on its television network Justice Central, available in more than 50 million U.S. homes. Allen Media Group’s “America’s Court with Judge Ross” (which premiered in fall 2010), as well as “Justice for All with Judge Cristina Perez,” “Justice with Judge Mablean,” “Supreme Justice with Judge Karen,” “The Verdict with Judge Hatchett,” “We the People with Judge Lauren Lake” and “Equal Justice with Judge Eboni K. Williams.” (“Equal Justice” also premieres in fall 2023.) “Judge Greg Mathis is an outstanding, charismatic, and iconic television host, and we are extremely confident that our eighth and newest court series with Judge Mathis will be very successful for years to come as he joins our outstanding roster of talent, including Judge Kevin Ross, Judge Mablean Ephriam, Judge Christina Perez, Judge Karen Mills-Francis, Judge Glenda Hatchett, Judge Lauren Lake, and Judge Eboni K. Williams,” said Byron Allen, Founder/Chairman/CEO of Allen Media Group, which produces and distributes globally.

Days after it was revealed that Judge Mathis would end its long run in daytime syndication, Byron Allen’s Allen Media Group has announced that it will launch Mathis Court with Judge Mathis in the fall.

The incoming Warner Bros. Discovery (WBD)/ BT Group UK sports streaming JV will be named TNT Sports, the U.S. media giant has revealed.

Shirley Halperin Executive Editor, Music Veteran music publicists Luke Burland and Bobbie Gale are teaming up to form a new firm, 2b Entertainment. The two share more than 30 years experience working with artists, music companies and brands. Both previously served in senior media relations positions at Warner Bros. Records (now known as Warner Records) and as in-demand indies — Burland, most recently at BB Gun Press (founded by Brian Bumbery, currently a top communications executive at Apple Music); Gale at her own MixedMediaWorks. Based in Los Angeles, 2b Entertainment’s client roster includes Jojo Siwa, Danny Elfman, Mike Dean, Holly Humberstone, Josh Groban, Julian Casablancas, Justin Tranter, Maggie Lindemann, Meghan Trainor, My Chemical Romance, OK Go, Shania Twain and Steve Earle, among other artists. Corporate accounts run across entertainment, lifestyle and fashion, representing such brands as CITI, +1 Records, Laylo, Dad Grass, Muserk and Cosm. (See the full roster here.)

Clayton Davis Senior Awards Editor A pair of Oscar bellwether ceremonies took place this weekend, heralding uncertainty and unpredictability to an awards season where no one agrees on what contenders will end up taking home Academy Awards. The DGA Awards, which has historically matched up best with the eventual winner of best director, chose the “Everything Everywhere All at Once” duo of Daniel Kwan and Daniel Scheinert. They’re the third directing team to win in the DGA’s 75-year history (after Robert Wise and Jerome Robbins for “West Side Story” and Joel Coen and Ethan Coen for “No Country for Old Men”). Only eight DGA winners have failed to walk away with the Academy Award in the same season, with the last instance being Sam Mendes (“1917”), who won at DGA but lost to Bong Joon Ho (“Parasite”) at the 2020 Oscars.

Michael Schneider Variety Editor at Large The verdict is in: Syndicated court staples “Judge Mathis” and “The People’s Court” will both end their run at the end of this season, Variety has confirmed. “Judge Mathis” will wrap after 24 seasons, while this most recent iteration of “The People’s Court” wraps after its 26th season. Season 24 and Season 26, respectively.  Both shows come from Warner Bros. Unscripted Television in association with Telepictures Productions and are distributed by Warner Bros. Domestic Television Distribution. According to insiders, the decision was made due to the declining nature of the daytime syndication landscape. As local TV stations shrink their syndication dollars and the advertising marketplace shrinks for daytime syndication, first-run syndication has become a trickier landscape. At the same time, station groups have been expanding their local news broadcasts, also in a bid to save money.

Popular HBO shows “True Blood” and “Silicon Valley” are heading to basic cable channels TNT and TBS as part of a new programming experiment from Warner Bros. Discovery. This could be the beginning of a new trend for Warner Bros. Discovery.