As many as 10% of HBO’s 30 million subscribers are “non-revenue generating.” A new report from Barclays Capital says converting half of those subscribers to paying ones would generate between $72 million and $144 million in cash.
One day after withdrawing their offer to buy Time Warner, Rupert Murdoch and top deputy Chase Carey made clear they have moved on from the deal. In making those comments, which came as Fox reported fiscal fourth quarter 2014 earnings, the company puts the pressure squarely on Time Warner CEO Jeff Bewkes to perform.
On the company’s second-quarter earnings call, CEO Jeff Bewkes acknowledged that HBO GO has stiff competition in Netflix — and that the former will likely take a page from Netflix’s book in the future.
But the move could just be a negotiating ploy.
Jeff Bewkes doesn’t like big media mergers, but that doesn’t mean he won’t make a good deal, from Rupert Murdoch or another bidder. He’ll do whatever creates the most value for shareholders, and now that most likely means selling.
As the annual Sun Valley conference hosted by investment bank Allen & Co. gets underway in Idaho this week, the eyes of the media world will be on Time Warner CEO Jeff Bewkes. After years of spinning off assets and slimming down his company, observers are wondering if Time Warner is a buyer or a seller. Does Bewkes want to buy a company like Discovery or sell to someone like Rupert Murdoch’s Fox?
An opportunity to ditch an inconvenient channel. Shane Smith could be about to get his network.
The last 10 years have not been kind to the nation’s largest magazine publisher.
Phil Kent, the longtime head of Turner Broadcasting, announced Wednesday that he was leaving the company, to be replaced by John Martin, the current chief financial officer of Time Warner. The elevation of Martin puts another business, rather than creative, executive in charge of a Time Warner division.
CBS’s first quarter earnings, released today, shined in part because it doesn’t own a major movie studio. At least not yet.