Latest news with #WarnerBros.DiscoveryInc
The Star
05-05-2025
- Business
- The Star
U.S. media, entertainment companies' shares slip on tariff plans for foreign films
NEW YORK, May 5 (Xinhua) -- Shares in U.S. media and entertainment companies fell on Monday after U.S. President Donald Trump announced that he plans to impose a 100 percent tariff on films produced overseas. Netflix Inc. and Warner Bros. Discovery Inc. fell about 3 percent while Paramount Global and Walt Disney Co. slid about 2 percent as markets opened. In a post on Truth Social, the American leader said he was directing the Commerce Department and his trade representative to "immediately begin the process of instituting" the levy on foreign movies. "WE WANT MOVIES MADE IN AMERICA, AGAIN!" Trump continued. The president also positioned foreign productions as a national security threat, saying other nations were using films for messaging and propaganda. "It's not clear how such a tariff would work, nor how such movies would be valued for tariff collection purposes," reported Bloomberg News about the development. "Many films from Hollywood studios involve global production, including shooting locations in foreign countries and post-production work that can be done anywhere in the world."
Bloomberg
06-04-2025
- Entertainment
- Bloomberg
‘Minecraft' Movie's $157 Million Opening Is Best of 2025 So Far
A Minecraft Movie, a Warner Bros. Discovery Inc. film based on the namesake video game, opened at No. 1 in US and Canadian theaters this weekend, marking the biggest debut for a film this year. The picture, co-produced by Legendary Entertainment, delivered weekend sales of $157 million, Warner Bros. said Sunday in a statement, storming past industry tracker Box Office Pro's forecast of $85 million to $100 million. The film took in an additional $144 million in theaters internationally.
Bloomberg
27-03-2025
- Entertainment
- Bloomberg
Warner Bros. Cancels Planned ‘Hogwarts Legacy' Game Expansion
Warner Bros. Discovery Inc. canceled a planned expansion for its popular Hogwarts Legacy title as part of an ongoing restructuring at the entertainment company's video-game unit, according to people familiar. The expansion, which would have added new storylines to the original game, had been planned for release this year alongside a 'Definitive Edition' with all of the content. The plans weren't publicly announced, but were reported last year by Bloomberg. A spokesperson for Warner Bros. declined to comment.
Bloomberg
26-02-2025
- Entertainment
- Bloomberg
Warner Bros. Movie Heads Are Burning Cash, and Their Boss Is Losing Patience
Shortly after Joker: Folie à Deux opened in October, Warner Bros. Discovery Inc. Chief Executive Officer David Zaslav summoned the co-leads of his movie studio to company headquarters in New York. The sequel to the 2019 smash hit Joker had been a critical and commercial disaster, grossing just $208 million, about one-fifth what the original took in—despite costing nearly four times as much to make. In a closed-door meeting, Zaslav railed against the performance of the film, which studio heads Michael De Luca and Pamela Abdy had supervised from start to finish after joining Warner Bros. in 2022. Zaslav also decried the mounting costs of the studio's upcoming releases, according to people familiar with the matter who weren't authorized to speak publicly. A spokesperson for Warner Bros. disputed this characterization, calling the meeting 'a straightforward Joker 2 postmortem and a constructive conversation on the slate.'
Bloomberg
11-02-2025
- Entertainment
- Bloomberg
Warner Bros. Plans Harry Potter Attraction in Shanghai in 2027
Warner Bros. Discovery Inc. plans to open its largest Making of Harry Potter studio tour in Shanghai in 2027, seeking to capitalize on the local popularity of the movies and China's push to boost consumer spending. The joint venture with Chinese travel and hospitality conglomerate Jinjiang International still needs regulatory approval, Warner Bros. said in a statement, which didn't include financial details. The Harry Potter studio tour in Tokyo, which opened in 2023, cost a reported $115 million.
