Finance & Law
Warner Bros. Discovery reports $2.1bn loss in Q4, total D2C subscribers hit 96m
Media group Warner Bros. Discovery reported a net loss of $2.1bn (€1.98bn) in the fourth quarter of 2022 despite generating $11bn in revenue over the period.
OneFootball sheds another 150 jobs after Web3 overspend
Streaming platform and media company OneFootball is to shrink its headcount from 470 to 320 as it dramatically reduces its cost base in the wake of recent moves into the non-fungible token (NFT) and wider…
Sky NZ profits fall amid sports rights spend
Pay-television broadcaster Sky New Zealand has seen its half-year profit fall despite revenue rising, as it broke through the one million subscriber barrier
Sinclair suffers revenue decline following Diamond Sports deconsolidation
Sinclair Broadcast Group's consolidated revenue of $960m (€904.9m) dropped 35 per cent year-over-year in the fourth quarter of 2022, with the company pointing to the loss being primarily due to the deconsolidation last year of Diamond Sports Group (DSG), which runs Regional Sports Network (RSN) Bally Sports.
WWE’s Elimination Chamber sets gate and viewership records
World Wrestling Entertainment (WWE) set gate and viewership records for its Elimination Chamber event in Montreal, Canada
CME owner PPF takes stake in ProSiebenSat.1
Czech investment company PPF Group has acquired a 9.1-per-cent stake in German media group ProSiebenSat.1, becoming its second-largest shareholder after Italy-based commercial broadcaster Mediaset
ORF to close linear sports channel
Austrian public-service broadcaster ORF has announced plans to shut its ORF Sport + linear television channel as part of a wider range of measures designed to save around €300m ($319.7m) by 2026.
Viaplay to demand compensation as TV2 largely defeated in Premier League clips case
Norwegian commercial broadcaster TV2 will face a claim for compensation after the Oslo District Court ruled that its use of clips from Premier League matches infringed upon pay-TV operator Viaplay’s r…
Beleaguered Diamond Sports Group skips $140m debt interest payment
Diamond Sports Group, which runs Regional Sports Network (RSN) Bally Sports and is owned by telecoms conglomerate Sinclair, could face Chapter 11 bankruptcy after missing a $140m (€131.2
World Cup pushes Fifa towards $3bn in broadcast revenue in 2022
Fifa generated broadcast income of $2.96bn (€2.77bn) in 2022, fuelled by media rights deals for the World Cup in Qatar and reflective of just over half of the governing body’s total revenue for the year.
Seven hails end of ‘onerous contracts’ as content costs fall, details Super Bowl audience
Australian commercial broadcaster Seven has hailed the end of “onerous contracts” after its latest set of financial results revealed a decrease in content costs and stable revenues in the first half of its accounting year.
Serie A clubs voice support for ‘very useful option’ of domestic rights extensions
Member clubs of Serie A, the top division of Italian club football, have backed proposed legislation that would allow for the extension of existing domestic rights deals with subscription broadcaster DAZN…
Viaplay reports 83-per-cent jump in subscribers but posts quarterly loss
Viaplay Group, the international subscription streaming broadcaster, has detailed an 83-per-cent rise in its quarterly subscriber base, year-on-year, but reported an adjusted quarterly operating loss of…
TVP receives PLN2.35bn government grant to offset licence fee shortfall
Polish public-service broadcaster Telewizja Polska is to receive PLN2.35bn (€491.2m/$526.3m) in government funding after its annual grant was approved.
Kayo Sports hits 1.14m subscribers as Foxtel’s streaming customer base jumps
Australian pay-TV broadcaster Foxtel has reported its earnings for the second quarter of the 2023 fiscal year, with streaming subscribers up 25 per cent year-on-year
SEC fiscal year revenue declines four per cent
The Southeastern Conference announced that $721.8m (€672.5m) of its total revenue for the 2021-22 fiscal year was distributed among the conference's 14 universities, but the conference saw a four-per-cent decline in revenue.
NFL to face class action over Sunday Ticket prices
A U.S. judge has ruled that the National Football League must face a $6bn (€5.6bn) class action lawsuit alleging the league unlawfully limited the amount of games shown and drove up the cost of its Sunday Ticket package.
EBU sells Eurovision Services to private equity firm
Eurovision Services, the broadcast services arm of the European Broadcasting Union, has been sold to Dubag Group, the Munich-based private equity firm