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LIVE UPDATING Warner Discovery Will Merge HBO Max with Discovery Plus, Brands Remain, “Batgirl” Was No Good, “Our job is to protect the DC brand”

Roger Friedman
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LIVE UPDATING Warner Discovery Will Merge HBO Max with Discovery Plus, Brands Remain, “Batgirl” Was No Good, “Our job is to protect the DC brand”

The Warner Discovery call is now in the Q&A section. The biggest takeways so far are that HBO Max will not disappear, as I reported yesterday. HBO Max and Discovery Plus will be combined, however. On the subject of “Batgirl,” David Zaslav said: “Our job is to protect the DC brand.” He said the focus is on quality. we won’t release a movie unless it’s ready.” He added: DC is something we can make better.” Warner Discovery will turn DC into a studio a la Marvel with a 10 year plan.

Zaslav praised the HBO team, calling Casey Bloys a “unicorn.” He emphasized: “We embrace and support HBO Max…HBO Max is the centerpiece of our streaming platform.”

But clearly “Batgirl” fell short not just as too big vs too small but just not good. It’s rare when a studio looks at a finished product and admits failure. I wish they did it more often!

There was no discussion of layoffs, as feared. But that doesn’t mean there won’t be any…

earlier–

The fun begins at 4:30pm Eastern. Warner Discovery stock closed slightly up today at $17.48 which is nice but well below its high of $31 a year ago. David Zaslav and Discovery bought WarnerMedia from ATT , the deal closed April 8, 2022. We are far from the halcyon days of Time Warner when content was king, HBO was the crown jewel, CNN was revered, and so on. We’re new territory here.

Earlier: HBO Max Rebranding Not Happening

UPDATING David Zaslav comments:

The big question — will HBO Max disappear? As I reported yesterday

“We will fully embrace theatrical.”

Streaming: HBO Max and Discovery Plus under one entity

Ad supported streaming for non subscribers

Operate as one company with one mission. Combined enterprise. HBO, WB, et al we are stronger together.

“House of Dragons” biggest campaign in our history.

JB Perrette took over the call.

Over paying and over investing in content– we don’t believe in this.

Focus is consumer choice.

Combining SVOD with ad lite and ad free.

Ad free and ad lite: Combination of HBO Max and Discovery Plus. They are distinct in their appeal. The two services are different.

Discovery Plus adds CNN hub. HBO Max will begin hosting Magnolia Content from Joanna and Chip Gaines.

First news:

Financial Summary & Operational Highlights:

  • Q2 total reported revenues were $9,827 million. Pro forma combined revenues decreased 1% ex-FX compared to the prior year quarter.

  • Net loss available to Warner Bros. Discovery, Inc. was $(3,418) million, and includes $2,004 million of amortization of intangibles, $1,033 million of restructuring and other charges, and $983 million of transaction and integration expenses.

  • Total reported Adjusted EBITDA was $1,664 million. Pro forma combined Adjusted EBITDA decreased 31% ex-FX compared to the prior year quarter.

  • Cash provided by operating activities increased to $1,011 million and reported free cash flow increased to $789 million.

  • Ended Q2 with $3,896 million of cash on hand, gross debt of $53.0 billion, and net leverage of 5.0x.

  • Ended Q2 with 92.1 million global DTC subscribers, an increase of 1.7 million versus 90.4 million subscribers at the end of Q1, as adjusted for the Company’s new DTC subscriber definition. The new definition resulted in the exclusion of 10 million legacy Discovery non-core subscribers and unactivated AT&T mobility subscribers from the Q1 subscriber count.

  • Warner Bros. Discovery was the #1 TV portfolio for total time spent by viewers in the U.S., TNT was the #1 TV network overall for Men 18-49 & 18-34, driven by sports, and TLC was the #1 cable network in the industry, ex-sports, in Primetime for Women 25-54.

  • Re-extended our agreement with AT&T to continue to offer its internet and mobility customers access to HBO Max’s portfolio of original programming and series.

NY Film Festival Centerpiece Film Will Be About Sacklers and Opioids from Controversial Filmmaker

Roger Friedman
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NY Film Festival Centerpiece Film Will Be About Sacklers and Opioids from Controversial Filmmaker

Laura Poitras’s “All the Beauty and the Bloodshed” is the Centerpiece Selection of the New York Film Festival.

“Beauty” chronicles the path of famed photographer Nan Goldin, the partner of controversial photographer Bruce Weber, in her investigation of the opioid manufacturing Sackler family. They’re the wealthy villains also of “Dopesick,” the book and TV show.

Poitras won an Oscar for “Citizen Four,” about whistleblower Edward Snowden. But she lost of steam with a film about Wikileaks and Julian Assange, called “Risk,” when it was revealed she’d been sleeping with one of Assange’s followers while making the movie. It was eventually dumped onto Showtime.

“Beauty” is an odd choice for Centerpiece Film for the Festival. It’s made by Participant Films but has no distributor or announced streaming deal. Unlike the opening night film, “White Noise,” from Netflix, it’s not really a marquee title. It has no actors to walk a red carpet, and little PR sizzle. But Goldin has the art connection in New York, and the Sacklers are notorious for having their infamous names removed from art galleries at famous museums.

It will be interesting to see what the NY Film Festival will choose for their closing night film.

Prince Charles Will Appear in Documentary About Ralph Fiennes Famous Cousin, Explorer Ranulph Fiennes

Roger Friedman
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Prince Charles Will Appear in Documentary About Ralph Fiennes Famous Cousin, Explorer Ranulph Fiennes

Sir Ranulph Fiennes is considered the world’s greatest living explorer.

Now he’ll get a documentary called “Explorer” coming August 30th theaters and streaming courtesy of Universal Pictures.

If the name sounds familiar, Ran Fiennes is the cousin of actor Ralph and Joseph Fiennes and their whole family.

The film is directed by Matt Dyas. Prince charles and Bear Gryllis are appearing in it. No word yet on the famous cousins. Are they on good terms? Who knows? You’d think one of them would be narrating it. We’ll see.

Lady Gaga is “In Heaven” Over Joining Joaquin Phoenix in “Joker” Sequel Set for October 2024

Roger Friedman
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Lady Gaga is “In Heaven” Over Joining Joaquin Phoenix in “Joker” Sequel Set for October 2024

Lady Gaga’s next movie role is as Harley Quinn in the “Joker” sequel. The movie will be released in October 2024.

Lady G is so happy she’s “in heaven” and said so posting a cute video of her and supposedly Joaquin Phoenix dancing cheek to cheek.

I love G’s acting but I feel a little bad for Margot Robbie, who has been brilliant as Harley Quinn in other movies. But I guess she’s part of another multiverse.

“Joker 2: Folie a Deux” is announced on the same day as DC Comics parent company Warner Media/ Warner Discovery is about go through a corporate earthquake. Also, the “Batgirl” debacle.

Hollywood Horror At HBO/Warner’s: Will Zas Attack Max, Home of “Hacks,” Swing Axe, Sack Staff?

Roger Friedman
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Hollywood Horror At HBO/Warner’s: Will Zas Attack Max, Home of “Hacks,” Swing Axe, Sack Staff?

The larger entertainment community is counting down to 4:30pm today.

That’s when the Warner Discovery earnings call will turn the town on its ear.

CEO David Zaslav, who came with Discovery Channel and bought the Warner assets, is about to make the Red Wedding look like a Sweet Sixteen party.

The word on the street is that he’s getting rid of HBO Max, combining it with Discovery Plus, and laying off 70% of the staff.

All the time, money, and energy invested in making HBO Max the biggest streaming service will be chucked out the window. There will just be HBO cable, and HBO you pay for. Period.

To that end, yesterday HBO removed a bunch of HBO Max movies from the streamer. This also comes as Zaslav shelved the $90 mil “Batgirl” movie and $40 mil “Scoob.” He doesn’t want anyone to see them (which sounds more and more ridiculous as the hours pass). “The Flash” could be next. Wait for that film festival!

All this is despite HBO Max successes like the comedy, “Hacks,” which has won a slew of awards and been hailed as among the best on any kind of TV.

The worry now is that Zaslav could be retooling HBO, the most successful cable entity in the universe, so that it will be unrecognizable. HBO could become just a “tab” under Discovery Plus which would be bizarre to the max.

Also breaking and a sign of just that: “Warner Discovery will launch a CNN Originals section on the subscription-video hub Discovery Plus, creating a new venue for CNN series and documentary films, as well as original programs from sister cable network HLN, which focuses largely on true-crime content. The CNN programming will be made available starting August 19th.”

So hold on for 4:30pm, when the axe comes down.

“Batgirl” Star Leslie Grace Handles Movie’s Cancellation with Grace, Even Sings “I Will Always Love You” to Fans

Roger Friedman
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“Batgirl” Star Leslie Grace Handles Movie’s Cancellation with Grace, Even Sings “I Will Always Love You” to Fans

If I were actress Leslie Grace, I’d be devastated by news that my “Batgirl” movie had been cancelled by the studio. Warner Bros. is saying they won’t release the $90 million comic book film.

But Grace posted to Instagram today with exemplary Grace. The star of “In the Heights” not only wrote to her fans but in one frame sings a bit of “I Will Always Love You” a capella so beautifully she should get a recording contract out of it! In the Instagram post below, go to her last panel where Grace sings: “Bittersweet memories/That’s all I’m taking with me…”

She wrote:

“Querida familia! On the heels of the recent news about our movie “Batgirl,” I am proud of the love, hard work and intention all of our incredible cast and tireless crew put into this film over 7 months in Scotland. I feel blessed to have worked among absolute greats and forged relationships for a lifetime in the process! To every Batgirl fan – THANK YOU for the love and belief, allowing me to take on the cape and become, as Babs [Barbara Gordon aka Batgirl] said best, “my own damn hero!”
#Batgirl for life!”

View this post on Instagram

A post shared by Leslie Grace (@lesliegrace)

Report: “Grey’s Anatomy” Star Ellen Pompeo Down to 8 Episodes This Coming Season As She Lights Out for New Series

Roger Friedman
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Report: “Grey’s Anatomy” Star Ellen Pompeo Down to 8 Episodes This Coming Season As She Lights Out for New Series

Reports today that the ongoing Ellen Pompeo-ABC annual budget fight has reached a new moment.

For Season 19 of “Grey’s Anatomy,” Pompeo will appear in a quarter of the episodes– 8, to be exact — and narrate the show off screen. She will still get her residual as an executive producer.

But Pompeo, who’s made annual contract negotiations her own World Series, is taking off to produce a show on Hulu described as inspired by the true story of a Midwestern couple who adopts what they believe is an 8-year-old girl with a rare form of dwarfism. Yes, you read that right. Go figure.

Will Pompeo be missed? Who knows? Who cares? “Grey’s” is headed to its ending with Season 20. So enjoy whoever’s left while you can.

NBC Kicks “Days of Our Lives” Off Broadcast TV After 57 Years, Reduces it to Streaming on Peacock

Roger Friedman
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NBC Kicks “Days of Our Lives” Off Broadcast TV After 57 Years, Reduces it to Streaming on Peacock

The Days of our Lives are almost over.

NBC has kicked the 57 year old soap opera off broadcast TV after 57 years. The series has one year to on its contract, so the network has sent it to subscriber-light Peacock on streaming.

In the last year NBC experimented with “Days” on Peacock by offering weeklong specials called “Beyond Salem.” Despite a recent Emmy win for writing for the main series and nominations for the streaming weeks, NBC had a purpose: to get “Days of our Lives” viewers used to find the show on streaming.

NBC has wanted to get soaps off their air for decades. Systematically they cancelled “Another World,” “The Doctors,” “Sunset Beach,” and “Santa Barbara.” “Days” was the last bastion. Now they will replace the soap with an unwanted hour of news which will be lower rated than “Days” but cost a lot less.

What will happen to “Days”? On Peacock the budget will be lower than it is now (which seems impossible). The show will be whittled down to a few older favorite actors and a few younger less expensive ones. It’s likely that the end will come in a year. “Days” will end its NBC run on September 9th.

Happy 96th Birthday to Tony Bennett, Beloved Crooner and Philanthropist, Activist (See DeNiro Tribute Message)

Roger Friedman
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Happy 96th Birthday to Tony Bennett, Beloved Crooner and Philanthropist, Activist (See DeNiro Tribute Message)

Happy 96th birthday, Tony Benedetto aka Tony Bennett!

A year ago tonight Tony took the stage at Radio City Music Hall and celebrated his 95th birthday with an amazing concert featuring Lady Gaga. Fans wondered if he could do it, but Tony performed like a young man, belting out a set of classic American songs with confidence and charisma. The voice and the sensibility have never gone away.

Even now, Tony is still vocalizing at three times a week at home in his Manhattan aerie for friends and family. You can’t keep a good man down!

And it’s not just the huge number of Grammys, Emmys, and other awards that marks Tony’s 96 years. He was always a political activist, marching with and singing for Martin Luther King. He’s also been a huge philanthropist with his Exploring the Arts Foundation and the Frank Sinatra High School for the Arts he built in Queens with his wife, Susan.

Stay cool, Tony!

Exclusive: “Batgirl” Shelving Was Coming for a While, HBO Max Not Getting Rebranded…for Now

Roger Friedman
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Exclusive: “Batgirl” Shelving Was Coming for a While, HBO Max Not Getting Rebranded…for Now

I’ve been talking to sources in and out of WarnerMedia this afternoon after the alarming news that “Batgirl”– which possibly cost $90 million — i s being shelved.

Sources tell me that this was bombshell news to all of us, but in the company it’s been known for a while that “Batgirl” was dead. What a shame. Also, Michael Keaton must be livid. He came out of bat retirement to play his character and did a lot of publicity.

Meantime, I am assured that rumors of HBO Max being subsumed into Discovery Plus are not true. My sources there said, “At this point anything is possible, but there’s been no sign of that.” HBO Max is a hit, with lots of popular shows. They’ve burnished their name and logo quickly. Viewers refer to “HBO Max shows.” Discovery sounds like a science channel.

As for “Batgirl,” the fact that Warner/ DC did nothing for it at Comic Con should sent a Bat Signal. The other movie I’d worry about is “The Flash.” So far there’s no word on its fate, but the Ezra Miller fiasco episodes may make it impossible to release.

One day, when Warner’s is owned by Tesla or Apple we can sit back and watch a bunch of unreleased films from Warner’s made during this period. That should be fun!

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