Streaming Media

Kimberly Redmond | |

WarnerMedia plans to launch CNN+, a standalone news streaming service, in the US during the first quarter of 2022.

The subscription service — which will be separate from CNN’s cable channels — is geared toward the network’s “superfans, news junkies and fans of quality non-fiction programming,” the news outlet said in a press release on Monday.

Kimberly Redmond | | Inc (Nasdaq: AMZN) said Wednesday it has reached a deal to buy privately held MGM Holdings, the parent company of Metro-Goldwyn-Mater Studios, for $8.45 billion.

In a statement announcing the acquisition, the e-commerce giant said it hopes to leverage MGM’s storied filmmaking history and vast catalog of 4,000 movies and 17,000 television shows to help boost Amazon Studios.

Jeff Kagan | |

Earlier this week AT&T announced it will be spinning off WarnerMedia assets to Discovery. Going forward, that means AT&T will stick to its core services which means wireless, Internet and telecom for consumers and businesses. So, let’s pull the camera back and take a longer-term, historical perspective on what this means for the company, its investors, customers and workers — and for the larger industry.

Kimberly Redmond | | Inc (Nasdaq: AMZN) is in discussions to acquire MGM Holdings, the parent company of Metro-Goldwyn-Mayer Studios, for $9 billion, according to reports.

Variety reported Monday that the tech giant has been negotiating a deal for “weeks” and that talks are being handled by Mike Hopkins, senior vice president of Amazon Studios and Prime Video and MGM’s board chairman Kevin Ulrich.

Kimberly Redmond | |

AT&T Inc announced Monday that WarnerMedia LLC and Discovery Inc are merging to form a new company that will become one of the largest media businesses in the US.

Under the agreement, AT&T will effectively unwind its $85 million acquisition of Time Warner, which closed three years ago, to form a new streaming giant with Discovery.

Reuters | |

Shares in media companies ViacomCBS and Discovery Inc tumbled around 27% each on Friday, capping a week of declines and putting both stocks roughly 50% below their recent record highs.

ViacomCBS closed down $18.12 at $48.23, marking a record one-day percentage decline, with trading volume more than five times its 10-day moving average. The stock had hit a record high of $101.97 on March 15 before it started losing ground over several sessions.