WBD Earnings Buoyed by ‘Minecraft’ Film, HBO Max Growth

Warner Bros. Discovery reported revenue growth in Q2 with a $9.8 billion total compared to $9.7 billion for the same period in 2024. Propelled by the success of films like the action/comedy “A Minecraft Movie” and the horror hit “Sinners” starring Michael B. Jordan — in addition to the international rollout of HBO Max — the company turned a profit of $1.58 billion for the quarter, a significant increase over the same frame last year. Television series including “The Last of Us” and “Abbott Elementary” were hailed as examples of “creative excellence.” In the shareholder letter, WBD says it “optimized” linear networks, while making “substantive progress” in the movie studios and streaming arms. Continue reading WBD Earnings Buoyed by ‘Minecraft’ Film, HBO Max Growth

Amazon Closes $8.5B Deal for MGM, FTC Watches in Wings

Amazon completed its $8.5 billion acquisition of MGM late last week. The companies finalized the deal immediately upon expiration of the Federal Trade Commission’s mid-March deadline to object, though the agency let it be known that it can challenge a deal any time it finds cause. Amazon in May announced intent to acquire MGM, which has a library of more than 4,000 films and some 17,000 TV episodes as well as ongoing production in both areas. In August, a group of four labor unions collectively urged the FTC to quash Amazon’s bid. Continue reading Amazon Closes $8.5B Deal for MGM, FTC Watches in Wings