The NBA is nearing a $76 billion media rights deal with NBCUniversal, Amazon Prime Video, and Disney/ESPN, set to commence after the 2024-25 season. Turner Sports, a long-term partner, is seeking to match Amazon’s offer to retain rights. The finalized…
Peacock is increasing its subscription price by $2 ahead of the Summer Olympics in Paris, a strategy aimed at boosting subscriber numbers. Despite growth, Peacock ranks lowest in US audience demand share for originals and relies on linear programming for…
U.S. Bankruptcy Court judge has given preliminary approval for $8 million in debtor-in-possession funding for Chicken Soup for the Soul Entertainment (CSSE), owner of Redbox Entertainment. The loan aims to pay the company's 1,000 employees and avoid immediate harm to…
Discovery and AT&T’s 2022 merger of Warner Bros. for $43 billion faced a shareholder lawsuit over fairness. A $125 million settlement has now been reached. AT&T holds 71% ownership of Warner Bros. Discovery, with Discovery owning 29%, and Discovery's leadership…
Redbox technicians faced a sudden work stoppage in June due to severe financial troubles. Chicken Soup for the Soul Entertainment, which acquired Redbox in 2022, filed for bankruptcy with nearly $1 billion in debt. Issues include unpaid payroll, lapsed health…
Skydance Media, led by David Ellison, has reached a preliminary $1.75 billion agreement with National Amusements to acquire a majority stake in Paramount Global. The deal, pending a special committee's approval, includes a 45-day window for counter offers and doesn't…
NBCUniversal and Paramount Global are making small but impactful budget cuts, such as removing the band from Seth Meyers' "Late Night" and reducing MTV News archives. These moves highlight the shifting priorities of media companies as they focus on reducing…
Cineverse reported a 25% increase in subscription-based streaming video revenue to $13.5 million for the fiscal year ending March 31. However, the company faced a net loss of $21.7 million on total revenue of $49.1 million, attributed to a decline…
Chicken Soup for the Soul Entertainment, the parent company of Redbox, filed for Chapter 11 bankruptcy, citing debts of $970 million and assets of $414 million. The company owes significant amounts to major studios like Universal, Sony, Lionsgate, and BBC,…
FIFA is seeking to raise up to $2 billion to expand its streaming service, FIFA+, targeting financial investors in the US and Middle East. The investment would be for a minority stake in FIFA+, which was launched in 2022 as…
