Warner Bros. Discovery Sees ‘Barbie’ Boost & Free Cash Flow In Mixed Quarter Squeezed By Strike, Soft Ad Market

Phil Quartararo, a record executive for five decades at A&M, RCA, Island, EMI, Warner Bros. and Virgin Records, died today of pancreatic cancer in Los Angeles. He was 67.

Jem Aswad Executive Editor, Music Phil Quartararo, the veteran record executive who played a major role in the success of the Spice Girls, Linkin Park and many others, has died, Variety has confirmed. Billboard reported that the cause of death was pancreatic cancer; he was 67. A familiar and friendly presence at countless concerts across the decades, “Phil Q.” — pictured above with Fleetwood Mac’s Stevie Nicks in 2001 — was renowned for his warm personality and firm handshake.

Warner Bros. Discovery has said British laws that restrict the period distributors can require exhibitors to screen their films may now be “outdated,” and it is time for the UK government to consider repealing the legislation. 

Media, entertainment and tech companies held their own in the top 25 ranking of overpaid CEOs in 2022 by nonprofit As You Sow. Live Nation’s Michael Rapino ($139 million pay package) topped the list, which also included Netflix, Paramount Global and Warner Bros Discovery, as well as Charter, Apple and Alphabet.

Matt Donnelly Senior Film Writer Warner Bros. Motion Picture Group has entered into a new co-financing pact with Domain Capital, a multi-year arrangement that will focus on bolstering the studio’s theatrical slate.

Jaden Thompson Congressman Joaquin Castro has taken to X/Twitter to call out Warner Bros. Discovery for planning to shelve the completed film “Coyote vs. Acme” for the sake of receiving a $30 million tax break.

Texas congressman Joaquin Castro has taken to X to slam Warner Bros Discovery for axing the $70M Coyote vs. Acme for a reported $30M tax writeoff. That said, as we first reported, the studio is changing course this week and screening the film for potential buyers, i.e. Amazon Prime (a leading contender), Apple and Netflix. This pivot by studio brass was made after a weekend in which the studio’s phone rang off the hook by the creative community over the cancelling of the finished film, as well as an outcry by the pic’s composer Steven Price among others online.

Clayton Davis Senior Awards Editor Warner Bros. will be juggling a lot in the Oscar race for best original song. As confirmed by an FYC advertisement sent to Critics Choice Association members, along with the multiple tracks from “Barbie” by Billie Eilish, Dua Lipa, Mark Ronson and Andrew Wyatt, the studio will also handle several numbers from their two upcoming holiday movie musicals: “The Color Purple” and “Wonka.” The upcoming adaptation of the musical “The Color Purple” will screen in front of its first official audience of industry voters and journalists next week.

Warner Bros Discovery is reteaming with Taiwanese production company DaMou Entertainment to produce HBO Asia original Fired Up! (working title), an adaptation of hit Kakao webtoon Itaewon Class. 

Investors bid down shares of Warner Bros. Discovery today as its chief financial officer described a U.S. ad market “that has continued to be weaker than we had hoped” and a recovery that’s hard to predict “with any conviction.”

Christopher Nolan is freaking me out. “There’s a pretty simple argument mathematically for saying the world will end in nuclear Armageddon simply because that’s a possibility,” he’s calmly explaining. “Over an infinite timeline, it’s going to happen at some point.” It’s hard to dispute Nolan’s logic that civilization will one day vaporize, but as he tops off his mug of Earl Grey tea from a small kettle on the table in front of him, he hits a slightly more hopeful note.

Jennifer Maas TV Business Writer Warner Bros. Discovery CEO David Zaslav opened the company’s quarterly earnings presentation with remarks on the ongoing SAG-AFTRA strike, remaining “hopeful” that the work stoppage will end “soon” following the Hollywood studios’ move to adjust AI language in its “last, best and final offer” to the actors union. “We are hopeful we will reach a resolution to the SAG-AFTRA strike soon,” Zaslav said during WBD’s third-quarter earnings call Wednesday.

Brian Steinberg Senior TV Editor Warner Bros. Discovery narrowed its third-quarter loss as the media giant, grappling with billions of dollars in debt as a result of the 2022 merger that created it, saw the box-office success of “Barbie” offset by a 12% decline in advertising at its portfolio of TV networks. The owner of CNN, the Warner Bros.

Free TV Networks, a new programming entity with a presence in both over-the-air broadcast and streaming, has enlisted Warner Bros. Discovery, Lionsgate and Gray Television as partners and suppliers.

Patrick Frater Asia Bureau Chief Unscripted queer reality dating series “Boys Like Boys” is to air on Warner Bros. Discovery’s TLC channel in Taiwan in early 2024, making it the first local LGBTQ+ dating reality show to air on linear TV in the territory. The show is an original production by GagaOOLala, Asia’s out and proud LGBTQ+ streaming service, which is pitching an expanded array of queer content at the Taiwan Creative Contents Fest (TCCF) that launches Tuesday in Taipei. “Boys Like Boys” had its premiere at the Kaohsiung International Film Festival and is now available worldwide on GagaOOLala and WeTV in the Philippines and Thailand, where the ‘Boys Love’ genre has become highly popular.

As Kelsey Grammer says in his 2020 low-budget action movie Money Plane, “Whatever you want to wager on, the money plane has you covered. You want to bet on a dude f*cking an alligator? Money Plane.”

Patrick Frater Asia Bureau Chief Warner Bros. Discovery, Taiwan Mobile and the Taiwan Creative Content Agency have signed a multi-year memorandum of understanding to create and distribute Taiwanese original content locally and across international markets. The MOU, signed in advance of next week’s TCCF event, combines the expertise and reach of the three companies to develop, produce and distribute local IP and content for both local and global audiences.

EXCLUSIVE: Warner Bros and producer Amy Pascal have emerged victorious in a spirited book-rights auction for How to Rule the World: Yacht Parties, Culture Wars and the Downfall of a President at Stanford. Written by Theo Baker, book tells his story of being an 18-year-old freshman at Stanford who wrote a series of reports for the university’s newspaper skeptical of the questionable research practices of the school’s president Marc Tessier-Lavigne, a neuroscientist who was on the short list for the Nobel Prize.

Warner Bros Discovery‘s international restructuring has continued with James Gibbons setting out the shape of his Asia Pacific team, with Japanese Country Manager Masami Takahashi choosing to retire.

Naman Ramachandran Warner Bros. Discovery has revealed several leadership roles across its Asia Pacific (APAC) business, following the appointment of James Gibbons as president, Asia Pacific, in October.