Latest news with #EricGaillard
The Star
3 hours ago
- Business
- The Star
From Time Inc to Discovery: Warner Bros breakup puts spotlight on checkered M&A history
FILE PHOTO: The Warner Bros logo is seen during the Cannes Lions International Festival of Creativity in Cannes, France, June 22, 2022. REUTERS/Eric Gaillard/ File Photo (Reuters) -Warner Bros Discovery, home to HBO and CNN, said on Monday it would split into two companies, the latest twist in its decades-long history of high-stakes mergers and breakups. Date Event 1922 Time Inc was founded by Henry Luce and Briton Hadden to house Time magazine, a weekly news publication that made world affairs accessible to the average reader. The first issue of Time magazine was published in March 1923. 1923 Warner Bros was founded by brothers Harry, Albert, Sam and Jack Warner as a film studio in Hollywood. It revolutionized cinema with the introduction of synchronized sound in films. 1969 Kinney National Company, a conglomerate that later transitioned into media, buys Warner Bros-Seven Arts and later spins off its non-media businesses. 1972 HBO is founded by Charles Dolan with backing from Time. It was the first U.S. subscription-based cable network, offering uncut, commercial-free movies and live sports, pioneering premium cable television. 1990 Time Inc merges with Warner Communications in a $14 billion deal, hailed as a "marriage of content and distribution," creating Time Warner, then the largest media company in the world. 1996 Time Warner merges with Turner Broadcasting, gaining Cartoon Network, CNN, TNT and a vast classic film library. 2000 Time Warner merges with AOL, forming AOL Time Warner, the largest merger in history at the time, aiming to merge traditional and digital media. 2002 AOL Time Warner merger begins to unravel as AOL's value collapses with the launch of an SEC investigation, prompted by allegations of accounting irregularities and inflated revenue reports at AOL. 2003 CEO Steve Case resigns from AOL Time Warner. 2004 Time Warner sells Warner Music to a private equity group led by Edgar Bronfman Jr. for $2.6 billion. 2009 Time Warner fully spins off Time Warner Cable, which had already been partially separated in 2007, ending its role in cable distribution. 2009 Time Warner spins off AOL. 2013 Time Warner spins off Time, its magazine division, which includes Time, People, Fortune and Sports Illustrated, marking its formal exit from publishing. 2016 AT&T announces acquisition of Time Warnerfor $85 billion. 2018 AT&T completes its acquisitionof Time Warner after regulator's approval, renaming it WarnerMedia. 2021 AT&T announced it would spin off WarnerMedia and merge it with Discovery Inc to create a new standalone media company. 2022 WarnerMedia and Discovery complete their merger in a $43 billion deal. 2025 Warner Bros Discovery announces it would separate into two companies — one focusing on streaming and studios businesses, while the second will house its cable TV assets. (Reporting by Kritika Lamba and Meghana Khare in Bengaluru; Editing by Alan Barona)
Yahoo
31-05-2025
- Business
- Yahoo
Champions League final: What time is PSG vs Inter Milan today and how to watch on TV
There can be only one: PSG and Inter Milan will battle to lift the Champions League trophy - Reuters/Eric Gaillard Paris St-Germain take on Inter Milan in Munich in the Champions League final today in a battle to be crowned champions of Europe. The Italians were the first side to book their place in the final courtesy of an incredible 7-6 aggregate semi-final victory over Barcelona that Telegraph Sport called the greatest-ever Champions League tie. Advertisement The following night, PSG joined them thanks to a 3-1 aggregate win against Arsenal. PSG have never won the Champions League/European Cup, but did make the final in 2020. Inter Milan are three-time champions (1964, 1965, 2010) and have been beaten finalists three times (1967, 1972, 2023). What date is the Champions League final? Today! Saturday, May 31, 2025. What time does it start? The match is scheduled to kick off at 8pm BST. What TV channel is it on? TNT Sports 1, with live coverage of the game starting from 6pm. It will include analysis from Karen Carney, Rio Ferdinand and Owen Hargreaves. How can I stream the Champions League final and is it on YouTube? TNT Sports will not show the Champions League final on YouTube in the UK, unlike in previous years. Advertisement However, viewers can watch the Champions League final for free on Discovery+. It is necessary to register for a free account to view the live stream. What is the host stadium? Bayern Munich's Allianz Arena, which will be known as the Munich Football Arena for the final. This is due to Uefa, the tournament's governing body, not recognising stadium sponsors under their rules regarding sponsorship. Munich Football Arena Can I still get tickets? Tickets for the final can be bought on the official Uefa website. What is the latest news? Paris St-Germain boss Luis Enrique has challenged his players to write themselves into the club's history by winning the Champions League. Advertisement In a video clip posted on the club's official X account, Enrique said: 'There's only one match left. There are only two teams left in the Champions League, Inter and us. 'Inter is a more experienced team than us. There's no doubt they deserve to be Champions League finalists, and I think we can be proud of what we've achieved. 'But we need to finish the job because our aim is to go down in history.' PSG, who were beaten by Bayern Munich in the 2020 final, have dominated domestic football in France in recent years, but Champions League success has remained elusive. This season's campaign has been far from straightforward – they needed to win their final three league phase matches against RB Salzburg, Manchester City and Stuttgart to book a last-16 play-off against Brest, and then edged past Premier League sides Liverpool, Aston Villa and Arsenal to make it to Munich. Advertisement Enrique said: 'If we analyse everything that's happened in the Champions League this season, it would make a great thriller or horror film or even a very good series because there's been a bit of everything from the very first home game against Girona, when we would have deserved to win before the 90th minute and by taking advantage of an error by our opponents. 'We deserved better results in every game in the league phase, especially at home, but we didn't get them. 'Then for the last three matches of the league phase, we had only four points - four points - and we were more out than in. If you don't score goals, you don't win games.' Who is the referee? Romania's Istvan Kovacs. What is the prize money ? The winner of PSG-Inter will take home £21.5 million, with the runner-up banking £15.9 million. Advertisement Champions League prize money increased by a third this season after the competition's revamp. The total prize pot went up to £2.06 billion for the new 36-team format, compared to £1.74 billion in the previous iteration. Each club that qualified earned an automatic £15.7 million – even if they lost every game and went out at the league phase. Every league-stage win also earned a club £1.8 million and a draw £590,000. For finishing in the top eight of the league phase, which sealed automatic qualification to the last 16, Uefa awarded £1.7 million to each team. From then on, each team that went no further than the last 16 got £9.4 million, the quarter-finals £10.7 million and the semi-finals £12.9 million. The runner-up gets £15.9 million and the winner £21.5 million. Which music act will perform before the final? Rock band Linkin Park, famed for songs 'In The End' and 'Numb'. How did PSG get to the final? League phase PSG 1 Girona 0 Arsenal 2 PSG 0 PSG 1 PSV Eindhoven 1 PSG 1 Atletico Madrid 2 Bayern Munich 1 PSG 0 Red Bull Salzburg 0 PSG 3 PSG 4 Manchester City 2 Stuttgart 1 PSG 4 Advertisement PSG finished 15th in the table with 13 points. Knockout phase Play-offs: Brest 0 PSG 3, PSG 7 Brest 0 (Agg 10-0) Last 16: PSG 0 Liverpool 1, Liverpool 0 PSG 1 aet (Agg 1-1, 4-1 pens) Quarter-final: PSG 3 Aston Villa 1, Aston Villa 3 PSG 2 (Agg 5-4) Semi-final: Arsenal 0 PSG 1, PSG 2 Arsenal 1 (Agg 3-1) How did Inter Milan get to the final? League phase Manchester City 0 Inter Milan 0 Inter Milan 4 Red Star Belgrade 0 Young Boys 0 Inter Milan 1 Inter Milan 1 Arsenal 0 Inter Milan 1 RB Leipzig 0 Bayer Leverkusen 1 Inter Milan 0 Sparta Prague 0 Inter Milan 1 Inter Milan 3 Monaco 0 Inter Milan finished 4th in the table with 19 points. Knockout phase Play-offs: Bye Last 16: Feyenoord 0 Inter Milan 2, Inter Milan 2 Feyenoord 1 (Agg: 4-1) Quarter-final: Bayern Munich 1 Inter Milan 2, Inter Milan 2 Bayern Munich 2 (Agg: 4-3) Semi-final: Barcelona 3 Inter Milan 3, Inter Milan 4 Barcelona 3 aet (Agg: 7-6) What are the best odds? PSG to win 4/6 Inter Milan to win 7/5 Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
The Star
08-05-2025
- Business
- The Star
Warner Bros Discovery misses revenue estimates on box office weakness
FILE PHOTO: The Warner Bros logo is seen during the Cannes Lions International Festival of Creativity in Cannes, France, June 22, 2022. REUTERS/Eric Gaillard/File Photo (Reuters) - Warner Bros Discovery missed first-quarter revenue estimates on Thursday, weighed down by a lack of big box office hits from its studio and weakness in its traditional TV business as consumers continued to abandon cable for streaming. Like others in the media business, Warner Bros Discovery is losing thousands of cable TV subscribers each year, putting pressure on the company to consistently produce hit content and boost profitability in its streaming business. The threat of U.S. tariffs on foreign-made films has also added to the headaches of an industry whose biggest-budget films are often produced across several continents. WBD struggled in the January-March quarter to replicate the success of last year's "Dune: Part Two," which grossed more than $700 million. The company's marquee release for the period, Bong Joon Ho's sci-fi dark comedy "Mickey 17," earned only slightly more than its reported budget at the box office. That meant studios revenue fell 18% to $2.31 billion, missing estimates of $2.73 billion, according to Visible Alpha. The company has, however, made a strong start to the second quarter with Ryan Coogler's horror film "Sinners" and the blockbuster "A Minecraft Movie," which has raked in nearly $900 million globally, making it the biggest release of 2025 so far. Its summer lineup also looks strong with "Superman," directed by Marvel's long-time hitmaker James Gunn, set to release in July. Revenue at the TV networks segment, which includes CNN, Discovery Channel and Animal Planet, fell 7%. Overall, revenue fell 10% in the first three months of 2025 to $8.98 billion, missing analysts' average estimate of $9.60 billion, according to data compiled by LSEG. (Reporting by Aditya Soni in Bengaluru; Editing by Shounak Dasgupta)
Yahoo
06-05-2025
- Business
- Yahoo
Deliveroo agrees £2.9bn takeover by US rival DoorDash
Deliveroo had more than 130,000 riders serving 7 million active consumers a month last year. Photograph: Eric Gaillard/Reuters The food delivery company Deliveroo has agreed a £2.9bn takeover by its US rival DoorDash that will result in a near-£66m payday for its staff. The London-based delivery company, which was founded in 2013 by Will Shu and Greg Orlowski, received an offer worth 180p a share last month and on Tuesday its board recommended the deal to shareholders. Former and current Deliveroo staff own 36.5m shares in the business between them, which would mean a £65.7m payout if the deal goes ahead. Related: Forget the silly IPO price. Deliveroo would be right to take DoorDash's money and run Shu is in line for a £172m payout from his 6.4% shareholding in the business. He said: 'We are now at the beginning of a transformative new chapter. DoorDash and Deliveroo are like-minded organisations with a shared strategic vision and aligned values.' The takeover values Deliveroo, which employs about 4,000 people, at less than half the value at which it floated on the London Stock Exchange four years ago. Together, the two companies will cover 40 countries. The deal could result in job losses equivalent to between 1% and 3% of the combined workforce of 27,700, affecting up to 830 people, mainly in administration and business support roles. DoorDash said it would aim to limit redundancies and make any cuts by not replacing people who leave, and pausing or slowing hiring. A small number of headquarters and support jobs related to Deliveroo's status as a publicly listed company will also go. Its headquarters is expected to stay in London. DoorDash is the biggest food delivery app in the US, and was also founded in 2013. The San Francisco-based company has 23,700 employees, and more than 1 million riders who deliver food in 30 countries, as well as more than 42 million active users of its app. DoorDash said it would abide by the voluntary partnership agreement between Deliveroo and the GMB union, and does not plan to make any material changes to contracts with riders. Tony Xu, the chief executive and co-founder of DoorDash, said he had 'long admired' Deliveroo's team. 'Like DoorDash, Deliveroo is obsessively focused on their customers – consumers, merchants and riders,' he added. Shu, a former investment banker who came up with the idea for the app because of the lack of late-night food options while he was working long hours, set up Deliveroo with Orlowski, a childhood friend. He made deliveries by scooter for the service in its early months. Deliveroo works with 176,000 restaurants, grocers and retailers, and has more than 130,000 riders who served 7 million active consumers a month last year. It operates in nine countries: Belgium, France, Italy, Ireland, Kuwait, Qatar, Singapore, the United Arab Emirates and the UK. Deliveroo made its first annual pre-tax profit in 2024, of £12m, with revenues of £2.1bn.
The Star
02-05-2025
- Business
- The Star
Spotify's US app update gets Apple approval after court ruling
FILE PHOTO: A logo of Spotify is seen on a beach during the Cannes Lions International Festival of Creativity in Cannes, France, June 20, 2023. REUTERS/Eric Gaillard/File photo (Reuters) -Spotify said on Friday its U.S. app update has secured Apple's approval to show pricing information and external payment links, days after a judge barred the iPhone maker from charging commission on off-app purchases. The Swedish streaming giant, along with several other tech firms, has been at loggerheads with Apple over its App Store policies, which require developers to pay a commission on in-app purchases, including subscriptions. "After nearly a decade, this will finally allow us to freely show clear pricing information and links to purchase, fostering transparency and choice for U.S. consumers," Spotify spokesperson Jeanne Moran said in an email. Apple did not immediately respond to Reuters' request for comment. Spotify had submitted the app update on Thursday, a day after U.S. District Judge Yvonne Gonzalez Rogers said that the company failed to comply with her prior order imposed in an antitrust lawsuit by "Fortnite" maker Epic Games. The Cupertino, California-based firm said it disagreed with the decision, but would comply with the court's order and appeal. (Reporting by Jaspreet Singh in Bengaluru; Edting by Leroy Leo)
