The Walt Disney Co. and NBCUniversal sued AI company Midjourney on Wednesday, alleging that its image-generating service “functions as a virtual vending machine” that generates “endless unauthorized copies” of copyrighted works. The lawsuit, filed in U.S. District Court in Los Angeles, is the first major legal action that studios have taken against an AI company. Axios first reported on the lawsuit. The lawsuit states, “By helping itself to Plaintiffs’ copyrighted works, and then distributing images (and s ...

Monday’s news that Warner Bros. Discovery is splitting into two companies – one consisting of studios and streaming, the other linear TV networks – has cued up Hollywood’s latest succession drama. David Zaslav, having steered WBD as CEO since the 2022 close of the $43 billion merger of Discovery (which he formerly ran) and WarnerMedia, is slated to be CEO of the “S&S” (studios and streamers) entity. Gunnar Wiedenfels, Warner Discovery’s CFO, who held the same post at Discovery and has a pure finance backgr ...

The long and winding road of Hulu, which started in the pre-smartphone era as a streaming joint venture involving NBC and Fox, has concluded with the finalizing of Disney‘s buy-out of Comcast. Disney is paying an extra $438.7 million to Comcast’s NBCUniversal, on top of the $8.6 billion it committed in 2023 under the terms established in a put/call arrangement unveiled in 2019. That deal, which was accompanied by Disney’s $71.3 billion acquisition of most of 21st Century Fox, fueled Disney’s streaming ambi ...

Paramount Global said its chief financial officer Naveen Chopra is departing “to pursue other opportunities” as the company still awaits FCC approval for the merger with Skydance it announced almost a year ago. Andrew Warren, currently strategic advisor to the Office of the CEO, will assume the additional role of EVP, Interim Chief Financial Officer. Warren is the former CFO of Discovery Communications, the NBCUniversal Television Group and STX Entertainment. “We thank Naveen for his leadership role durin ...

Paramount Global will be “a melting ice cube” if its pending $8 billion merger with Skydance Media doesn’t close, former FCC commissioner Rob McDowell cautioned Thursday. Asked about the state of the FCC’s review of the deal during an appearance at Gabelli Funds’ 17th Annual Media & Sports Symposium in New York, McDowell said even a depleted commission could still approve the transaction. The regulatory body is about to go down to just two members, one Republican and one Democrat, raising questions about i ...

A prolonged FCC review against a backdrop of President Donald Trump’s lawsuit is fueling speculation that a Paramount–Skydance marriage may be heading for the rocks.    In a note Wednesday, analyst Rich Greenfield of LightShed Partners voiced what others have started to wonder, saying he’s “increasingly concerned the deal could collapse as Paramount is paralyzed by legal fears surrounding the pending President Trump–CBS 60 Minutes lawsuit.” The proposed merger announced last summer carried several automat ...

EXCLUSIVE: Nearly twelve months on from its last round of layoffs, Warner Bros. Discovery is initiating another round of cuts. Deadline understands that the company is set to layoff employees on the cable television side of its business. It is believed to be in the double digits but well under 100 as it looks for more efficiencies. These cuts will largely impact the Discovery side of the company, which runs cable networks including the Discovery Channel, Investigation Discovery, TLC and others. This comes ...

Core Points - Donald Trump and Paramount are in negotiations regarding a $20 billion lawsuit related to a 60 Minutes segment, with Paramount reportedly offering $15 million while Trump's team demands $25 million and an apology [1][4][8] - The lawsuit alleges violations of Texas' Deceptive Trade Practices Act, typically used for false advertising claims, and is seen as meritless by many observers [3][8] - The ongoing negotiations are critical for Paramount as they seek regulatory approval for a multi-billion dollar merger with Skydance, which has faced delays [10][8] Group 1 - Paramount has made an opening offer of $15 million, while Trump's team is seeking $25 million and an apology from CBS News [4][2] - The lawsuit was filed in October 2024, alleging deceptive practices related to an edited interview with Kamala Harris [2][5] - The outcome of the negotiations could impact CBS News, as leadership changes and concerns over the settlement have arisen [7][6] Group 2 - The merger between Paramount and Skydance requires approval from the FCC, which has been slow, leading to a 90-day extension [10][8] - Trump's legal team has indicated that further legal action may be pursued if CBS and Paramount continue to air segments they deem defamatory [12][8] - The situation has created tension within CBS News, with staff interpreting leadership changes as a sign that a settlement may be imminent [7][6]

Group 1 - President Trump has threatened to impose a 50% tariff on goods from the European Union and a 25% tariff on Apple, indicating that tariffs remain a key aspect of his economic policy [1][2] - Trump has communicated to Apple that iPhones sold in the U.S. should be manufactured domestically, warning that a 25% tariff will apply if production occurs elsewhere [2] - The European Union is accused by Trump of exploiting the U.S. in trade, leading to an annual trade deficit exceeding $250 billion, prompting his recommendation for a 50% tariff starting June 1, 2025 [3] Group 2 - Historical data shows that when Trump raises tariffs, stock markets tend to decline, while a reduction in tariffs leads to market increases, reflecting investor sentiment on future profitability [4] - Trump has also proposed a 100% tariff on films produced overseas, although the White House later clarified that no decision has been finalized on this matter [4]

Core Insights - AMC Networks reported a 7% decline in total revenue year-over-year, amounting to $555.2 million, with adjusted earnings per share at 52 cents, significantly lower than the previous year's quarter [1] Financial Performance - The company's advertising revenue fell 15% to $119 million, while affiliate revenue decreased by 12% to $156 million, attributed to basic subscriber declines and contractual rate decreases [4] - Content licensing revenue dropped 13% to $54 million, influenced by tough comparisons with the previous year when there was a boost from the sale of rights to "Killing Eve" [5] Streaming Metrics - AMC Networks' streaming subscriber count remained flat at 10.2 million compared to the same period last year, and decreased slightly from 10.4 million in the previous quarter [2] - The company has revised its method of counting streaming subscribers, excluding those from pay-TV or broadband bundles, which may have impacted the reported subscriber numbers [2] - Despite the downturn in subscribers, the company noted improvements in retention and viewing hours per subscriber, indicating a focus on higher-quality customers [3] Stock Performance - Shares of AMC Networks have declined by 37% in 2025, trading at $6.19, close to all-time lows [5]