Shares of Warner Bros. Discovery, Paramount Dip as Investors Take Stock of Potential Merger

There aren’t many true movie stars in Hollywood anymore. Sure, there are A-listers, but there aren’t many people who actually can lend their name to a film and watch it become a hit just based on name recognition alone.

official press release posted to the Warner Bros. Motion Picture Group and shared on Cruise’s social channels, the deal is a partnership marks a return to WB for Cruise, who has worked with the studio on the likes of Edge of Tomorrow, Rock of Ages, The Last Samurai, Eyes Wide Shut, Interview with the Vampire, Risky Business, The Outsiders, and New Line’s Magnolia.Co-Chairs and CEOs Michael De Luca & Pam Abdy said in the release: “We are thrilled to be working with Tom, an absolute legend in the film industry. Our vision, from day one, has been to rebuild this iconic studio to the heights of its glory days, and, in fact, when we first sat down with David Zaslav to talk about joining the Warner Bros. Discovery team, he said to us, ‘We are on a mission to bring Warner Bros. back – we have the best resources, storytelling IP, and talent in the business – and we need to bring Tom Cruise back to Warner Bros!’ Today, that becomes a reality and we are one step closer to achieving our ambition. We couldn’t be more excited to welcome Tom back to Warner Bros. and look forward to bringing more of his genius to life on screen in the years ahead.”Cruise added: “I have great respect and admiration for David, Pam, Mike, and the entire team at Warner Bros. Discovery and their commitment to movies, movie fans, and the theatrical experience. I look forward to making great movies together!”Cruise is currently hard at work on the second part of Mission: Impossible – Dead Reckoning which is housed over at Paramount.When you realize you want to spend the rest of your life with somebody, you want the rest of your life to start as soon as possible.@ THN - The Hollywood News 2023

Tom Cruise has announced a new partnership with Warner Bros., but don’t worry about your favorite franchises of his that are under other studios.

Brent Lang Executive Editor Tom Cruise has his next mission. The ageless action star signed a new deal to develop and produce theatrical films with Warner Bros. Discovery.

Harry Potter games following the success of Hogwarts Legacy.Speaking to Variety in a new interview, Haddad stated that not only was an already announced game based on the wizarding sport Quidditch in beta testing but that a “series of other things” are also in development which “will let the fans be part of this world and stories and characters in deeper and deeper ways.”Haddad spoke on the upcoming Harry Potter: Quidditch Champions, stating that they don’t have any “particular announcements on exactly how and when [the Quidditch game] is going to come to the market, but we are working to get it designed in a way just to delight fans.”He also spoke very briefly about the message that Warner Bros Discovery is giving to the gaming division, stating that they keep emphasising the “importance of franchises”.“There’s a unique and important games have in keeping our franchises relevant, resonant and exciting because there’s plenty of fans and plenty of people consuming content where games are their starting point, it’s their preferred form of content,” he explained.NME reviewed Hogwarts Legacy when it was released, stating that it was “fun and managed to get a lot of things right”, but that the game already felt “somewhat dated”.“It’s a stunning way to experience Hogwarts and the surrounding area and is probably the best representation for fans of the universe, regardless of the medium. Honestly, this is an exceptional piece of fan service and a loving recreation that for performance reasons and dated design, doesn’t quite come together,” our review read.In other gaming news, the face model for Mary Jane Watson in Marvel’s Spider-Man has called out the fanbase for harassing her.

Jennifer Maas TV Business Writer Warner Bros. Discovery corporate communications chief Nathaniel Brown is exiting the company. CEO David Zaslav announced the news in a memo to staff Friday.

Todd Spangler NY Digital Editor A huge virtual world based on “Ready Player One,” a story set in a future where people enter into a virtual-reality simulation to escape the real world, is coming soon to a real (but, you know, virtual) platform near you. Futureverse, an AI and metaverse technology and content company, announced the formation of Readyverse Studios, a studio co-founded with Ernest Cline, the novelist and creator of “Ready Player One,” and Dan Farah, producer of the 2018 Warner Bros.

Editor’s note: Underplayed in the media intrigue over the prospect of Warner Bros swallowing Shari Redstone’s empire that includes Paramount and CBS is the gloomy reality that another storied Hollywood studio could go the way of Fox. That went from a vibrant multi-faceted creative content-generating enterprise to a headstone, when Rupert Murdoch decided to cash out for Disney stock. David Zaslav spent 2023 kicking employees and finished films to the curb to pay down debt just to get this far; chances are more blood will spill down Melrose if Redstone sells some or all the pieces of Paramount to be mashed into an existing studio. When Bill Mechanic was perched atop Paramount, Disney and Fox, he built Disney’s home video from a $30 million to $3 billion business, and found ways to take risks and squeeze max returns from blockbusters from Braveheart to Titanic, Independence Day and many others. Who better to remind Hollywood that once a major studio dies, it never comes back, and that there might be better ways to squeeze better performance out of an established creative business with global pipelines?

EXCLUSIVE: Production is about to be underway on Warner Bros/Vertigo/Legendary’s feature take on Mojang/Microsoft’s Minecraft in New Zealand, and sources are telling us that Jack Black is joining the cast of the Jason Momoa led movie.

Releasing three tentpole movies into December, Warner Bros is walking away with bragging rights to giving the holiday season an important boost – particularly given the absence of an Avatar or a Spider-Man as in recent years.

Top U.S. cable operator Comcast has reached a carriage renewal with Paramount Global, averting a potential blackout of service around the New Year’s holiday.

Cynthia Littleton Business Editor Paramount Global has clinched a deal that is crucial to its future — but it’s not the transaction that Wall Street has been buzzing about for a few weeks. Paramount Global and Comcast have set a new carriage agreement covering Paramount’s cable channels and CBS-owned stations. The pact averts the prospect of a blackout for CBS stations and Paramount channels across Comcast’s cable systems, which reach about video 14.5 million subscribers and 29 million broadband subscribers.

Warner Bros. Discovery (WBD) has acquired Turkish streamer BluTV.

Warner Bros. comedy “Barbie” capping off 2023 as the highest-grossing movie ($1.44 billion) and Universal‘s historical biopic “Oppenheimer” as the third-biggest hit (a staggering $951 million). Studios were (finally!) rewarded for bucking the overly familiar and embracing the new and novel.

Jennifer Maas TV Business Writer Hollywood had a rough year in many areas — but the stock market largely was not one of them. Wall Street is poised to finish out 2023 up double digits: As of Dec. 27, the S&P 500 index has climbed 25% year to date and is nearing an all-time high record close.

UPDATED with company statement: Shari Redstone’s National Amusements, the controlling shareholder of Paramount Global, has confirmed it was the victim of a hack that affected more than 82,000 people.

Todd Spangler NY Digital Editor Joe Rogan claimed many Americans who voted for President Joe Biden in 2020 are regretting that decision because of the 46th president’s alleged declining acuity — but to try to prove his point, the popular podcast host incorrectly attributed to Biden something Donald Trump had in fact said. On the Dec. 21 episode of “The Joe Rogan Experience,” which is the No.

Jennifer Maas TV Business Writer Mega media merger mania is once again afoot in Hollywood with very, very early talks between Warner Bros. Discovery‘s David Zaslav and Paramount Global’s Bob Bakish about a potential merger of the two companies. Analysts and industry sources have already raised a number of questions about what a WBD-Paramount combo would look like and the effect it could have on the larger TV and film landscape.

Old habits die hard. So Warner Bros. Discovery’s CEO David Zaslav just sat down with Paramount Global chief executive Bob Bakish to talk about merging, and the media business yet again confronted the possibility of a spasm of mega-deals reshaping the landscape.

Warner Bros. Discovery and Paramount Global have held talks for a potential merger that would see two of the world’s biggest media companies join together, according to reports.The talks are in a “very early stage” and the merger may still not go ahead, sources close to the talks claim.Warner Bros.