WBD Shares Sink 13% on Q4 Results, Paramount Placed on Negative Credit Watch and 'Game of Thrones' Creators Left HBO Over 'Dysfunction'

Plus: Harry Potter TV series aims for 2026 debut, Studios reach deal with musicians union and WBD adds 1.8 million subs [Warner Bros. Discovery logo WBD Michelle Imperato Stabile]( [Warner Bros. Discovery Shares Dive 13% on Q4 Results]( By Eileen AJ Connelly Shares of Warner Bros. Discovery slumped 13% Friday after it reported fourth-quarter results that fell short of Wall Street hopes, despite becoming the first Hollywood entertainment giant to squeeze full-year profit from its streaming platform. The stock fell $1.28, or 13.3%, to $8.28 in late morning trading, the lowest point the stock has hit since the 2022 merger that created the company. Shares started the session down 18% since the start of 2024 and down 38% in the 52 weeks. [Read More]( --------------------------------------------------------------- [Bob Bakish]( [Paramount Placed on Negative Credit Watch by S&P Global]( By Dessi Gomez Credit rating firm S&P Global put studio Paramount on negative credit watch, which means it’s considering lowering Paramount’s credit rating due to its concerns about the studio’s business. According to S&P, that’s due to the media company’s weak free operating cash flow generation, which has been negatively influenced by the studio’s move from linear television to streaming. In other words, they aren’t confident in the company going forward as Paramount+ has struggled. The company said in a statement that they believe the company’s free operating cash flow will continue to “be weaker than historical levels because the significant cash flows from the linear TV businesses will degrade rapidly as pay-TV subscribers continue to decline and advertisers migrate spending to streaming platforms.” [Read More]( --------------------------------------------------------------- [D.B. Weiss and David Benioff]( ['Game of Thrones' Creators David Benioff and D.B. Weiss Say They Left HBO Over 'Dysfunction,' Lack of Stability]( By Kayla Cobb Back in 2019, “Game of Thrones” showrunners David Benioff and D.B. Weiss made headlines for securing an exclusive deal with Netflix. Now the creative pair are opening up about their frustrations with HBO’s parent company. “Dysfunction kills more projects than anything else, whether it’s interpersonal dysfunction or institutional dysfunction,” Weiss said in an interview with Wall Street Journal Magazine. [Read More]( --------------------------------------------------------------- [Harry Potter]( ['Harry Potter' TV Series Aiming for 2026 Debut as David Zaslav Touts J.K. Rowling's Involvement]( [American Federation of Musicians and AMPTP logos]( [Studios Reach Deal With Musicians' Union, Including Streaming Residuals, AI Guardrails]( [Warner Bros Discovery Earnings]( [Warner Bros. Discovery Adds 1.8 Million Subscribers, Narrows Streaming Loss 75% to $55 Million in Q4]( [CEO and Portfolio Manager Pershing Square Capital Management L.P. William Ackman speaks at The New York Times DealBook Conference at Jazz at Lincoln Center on November 10, 2016 in New York City. (Photo by Bryan Bedder/Getty Images for The New York Times )]( [Bill Ackman Makes New Threats Against Business Insider Over Articles Accusing His Wife of Plagiarism]( --------------------------------------------------------------- [Wrap Pro logo] Discover why entertainment executives and professionals rely on the WrapPRO platform daily for exclusive coverage, analysis, deeper reporting, and access to VIP events & screenings throughout the year. [Subscribe Today]( --------------------------------------------------------------- [Facebook]( [Twitter]( [Instagram]( [YouTube]( TheWrap | 2034 Armacost Ave Los Angeles, CA 90025 [Preferences]( | [Unsubscribe]( [LiveIntent Logo]( [AdChoices Logo](