New ‘Walking Dead’ Spinoff In The Works, AMC Executives Confirm

Read on: Deadline.

A new spinoff of The Walking Dead is in the works, AMC Networks confirmed during its quarterly earnings call with Wall Street analysts.
Asked to elaborate on CEO Josh Sapan’s mention of a third zombie outing, COO Ed Carroll said the spinoff is in…

AT&T CFO John Stephens Says WarnerMedia Culture Will Be Shielded From “A Finance Bean Counter From A Telephone Company”

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John Stephens, Senior EVP and CFO of AT&T, said yesterday’s legal victory over the U.S. Department of Justice in a 16-month battle will free the combined company to take full advantage of synergies. At the same time, he said the parent compan…

Sinclair Broadcast Group Q4 Results Cruise Past Wall Street Estimates

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Sinclair Broadcast Group cruised past Wall Street estimates for the political advertising-rich fourth quarter.
The company posted total revenue of $893.3 million, up more than 25% from the year-earlier quarter and better than the consensus outlook of a…

Imax Beats Q4 Revenue Estimates But Profit Slumps On Weaker Holiday Film Slate

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Imax beat Wall Street estimates for fourth-quarter total revenue, reaching just shy of $109 million, but a weaker film slate in the quarter compared with 2017 kept a lid on results.
The revenue figure slid 13% from the year-earlier quarter, while earni…

Nexstar Sets Q4 Revenue Record On Flurry Of Political Advertising Spending

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Nexstar, which has grown from a single radio station 23 years ago into what will soon be the No. 1 owner of local TV stations in the U.S., reported record revenue of $798 million in the fourth quarter.
Boosted by political ad spending, which was more t…

Discovery Returns to Profitability in First Q4 After HGTV, Food Network Acquisition

Read on: TheWrapTheWrap.

Discovery is back in the black for its year-ending quarter. The new(-ish) TLC and HGTV parent reported a profit of $269 million for the fourth quarter of 2018. Wall Street will compare that to the $1.1 billion it lost in Q4 2017.

Sounds like that Scripps deal is working out — at least, on an operational basis. Discovery did miss media analysts’ expectations for the three months ended December 31, 2018.

Wall Street had forecast earnings per share (EPS) of 79 cents on $2.84 billion in revenue, per a consensus compiled by Yahoo Finance. Discovery actually reported adjusted EPS of 74 cents on revenue of $2.81 billion. Excluding some after-tax restructuring charges, the reported earnings number adjusts to 82 cents per share, which is the version that will make investors happy.

Also Read: Discovery to Open Egyptian Sarcophagus in 2-Hour Live TV Event

Inclusive of its splashy acquisition, revenues grew by 51 percent versus the comparable quarter. Peeling the deal and some currency fluctuations out, Discovery revenue would have slipped 2 percent from Q4 2017.

With those new channels also comes increased expenses, of course. For one way to look at that, operating expenses for the U.S. networks rose from $1.4 billion across all of 2017 to $2.9 billion over the entirety of 2018.

Discovery purchased Scripps Networks in March for almost $15 billion. The acquisition led the combined company to full-year net income of $594 million, which compares with a $337 million loss the prior year.

Also Read: Tiger Woods to Develop Programming for Discovery-PGA Tour’s GolfTV Streaming Service

“2018 was a transformational year for Discovery, highlighted by our operational accomplishments, our strong progress in synergy generation and our overall solid financial performance, as we continued powering people’s passions around the world,” said David Zaslav, president and CEO of Discovery. “Discovery is a differentiated global content company, and we are optimistic that we will continue to build on all of our operating momentum to drive additional shareholder value into the future.”

DISCA stock closed Monday at $29.21 per share, flat for the day. The U.S. stock markets reopen today at 9:30 a.m. ET.

Discovery executives will host a conference call at 8:30 a.m. ET to discuss the full year and fourth quarter in greater detail.

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Cinemark MovieClub Reaches 560,000 Subscribers, Accounts For 10% Of Company Box Office

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Cinemark’s MovieClub subscription plan reached 560,000 active members by the end of 2018, up 26% from the end of the third quarter, the company revealed during its fourth-quarter earnings report.
The major exhibition circuit posted record revenue and s…

Cinemark Posts Record Q4 Revenue, But Earnings Miss Wall Street Estimates

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Major U.S. exhibitor Cinemark reported strong top-line results in the fourth quarter, with total revenue hitting a record $798.6 million, up 6.5% from the same period in the previous year.
Earnings came in at 17 cents a share on a diluted basis, fallin…

Roku Thumps Wall Street’s Q4 Estimates As Revenue And User Total Post Big Gains

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Roku continued its recent momentum by reporting fourth-quarter results that beat Wall Street expectations and validated its recent strategic shifts.
Earnings per share came in at 5 cents, which was a dip from 6 cents in the year-earlier quarter, but we…

CBS Q4 Earnings Undershoot Wall Street Estimates Due To Entertainment Dip

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CBS Corp. reported fourth-quarter earnings that fell short of Wall Street analysts’ expectations, largely due to a dip in its Entertainment unit caused by timing of international licensing deals and tough comparisons with domestic sales in the ye…

CBS Breaks Revenue and Earnings Records in Q4, But Misses Wall Street Projections

Read on: TheWrapTheWrap.

CBS recorded record revenues and adjusted earnings per share (EPS) over the final quarter of 2018, but missed out on Wall Street projections.

The company reported fourth-quarter revenues of $4 billion and an earnings-per-share of $1.49. Wall Street had forecast Q4 earnings of $1.54 per share and $4.19 billion in revenue, per a Yahoo Finance compilation of media analysts.

For the full fiscal 2018, CBS Corp reported revenue of $14.5 billion.

Also Read: Ginnifer Goodwin Joins Lucy Liu in CBS All Access Drama ‘Why Women Kill’

“CBS delivered our best-ever quarterly and full year results as we continue to position our Company for even stronger long-term growth,” said Joe Ianniello, President and Acting Chief Executive Officer, CBS Corporation. “Our strategy of creating more of the premium content that audiences want and making it available across new and traditional platforms continues to pay off, driving quarterly increases in subscribers at CBS and Showtime, both consecutively and year over year.”

Revenues for the fourth quarter of 2018 increased 3 percent to $4.02 billion from $3.92 billion for the fourth quarter of 2017. Advertising revenues increased 7 percent, driven by record political advertising sales from the 2018 midterm elections. This more than helped to offset the absence of “Thursday Night Football,” which moved to Fox after four years with CBS having all or part of the franchise.

Ianiello added that the company’s two streaming products — Showtime and CBS All Access — have reached 8 million combined subscribers, two years ahead of schedule. The company now is aiming for 25 million combined subs by 2022.

“All of this success is fueled by the must-have programming we have from across our key established content brands. Once again, the CBS Television Network is #1 in viewers, and thanks to the strength of our entertainment lineup and marquee sporting events, we are confident we will end the season as the most-watched network for the 11th consecutive year,” Ianniello continued. “At Showtime, we are growing our audience with our year-round lineup of buzzworthy original series, from ‘Shameless’ and ‘Ray Donovan’ to ‘Billions’ and ‘The Chi,’ as well as our premier boxing events. So we are set for another great year in 2019 as we continue to distinguish ourselves as a global multiplatform premium content company and steer our strategic focus toward scaling our direct-to-consumer subscribers.”

CBS executives will discuss the results on a call with investors at 4:30 p.m. ET.

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Univision Posts Soft Q4 Results, But CEO Vince Sadusky Upbeat About Dish Truce: “It’s Down To A Matter Of Value”

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Univision swung to a loss in the fourth quarter, blaming a downturn in revenue in part on a months-long carriage dispute with Dish, but CEO Vince Sadusky expressed guarded optimism about a resolution to the impasse during a conference call with analyst…

Dish Network’s Charlie Ergen: HBO Blackout Will Prompt ‘Game Of Thrones’ Piracy

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Dish Network co-founder and chairman Charlie Ergen says the satellite provider’s carriage dispute with HBO shows no signs of letting up, and he predicts a blackout lasting through the mid-April return of Game of Thrones would increase piracy.

Dish Network Shares Slump On Q4 Results Marred By Carriage Disputes

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Dish Network shares are down 5% in early trading after the company released lackluster fourth-quarter results marred by ongoing carriage disputes with HBO and Univision.
Diluted earnings per share plunged to 64 cents from $2.64 in the same quarter a ye…

Lionsgate Execs Talk Starz Plans Post-Chris Albrecht: “We Want To Open The Creative Aperture”

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After reporting mixed results for its fiscal third quarter, Lionsgate executives offered Wall Street analysts an update on Starz as the premium network’s longtime chief, Chris Albrecht, gets set to exit the company in the coming weeks.
Albrecht d…

Lionsgate Q3 Earnings Beat Wall Street Estimate, But Revenue Falls Short

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Lionsgate reported third-quarter earnings that beat Wall Street forecasts, but its total revenue fell short of the mark.
On a diluted basis, earnings came in at 10 cents a share, better than analysts’ forecast for eight cents. Revenue of $933.2 m…

Lionsgate Earnings, Revenue Drop Year-Over-Year as Film Profits Decline

Read on: TheWrapTheWrap.

Lionsgate reported on Thursday that its revenue and earnings for the fiscal third quarter were down year-over-year, as the company’s film division saw profit decline 20 percent.

According to the entertainment company, its adjusted earnings per share are 35 cents, which is a significant decline compared with the 87 cents per-share earnings it posted during the same quarter a year ago. Wall Street analysts tracked by Yahoo Finance, however, had expected Lionsgate to report earnings of 8 cents per share.

Revenue for the third quarter was $933.3 million, down compared with the prior-year period when Lionsgate reported $1.14 billion in revenue. The company’s third-quarter revenue was also below analysts’ expectations for revenue of $1.01 billion.

Also Read: Disney Manages to Surpass Wall Street Q1 Expectations Despite Decline in Studio Revenue

“We’re pleased to report a strong quarter with significant free cash flow and continued revenue and subscriber growth at Starz,” Lionsgate CEO Jon Feltheimer said in a statement “As we refill our feature film and television pipelines at a robust pace and take our integration of Lionsgate and Starz to the next level, all signs are pointing to strong growth in the year ahead.”

Lionsgate said that revenue at its motion picture segment was $362.6 million for the quarter, and that film profits decreased roughly 20 percent to $43.5 million. The decline was reflective of the studio’s under-performance of certain titles in fiscal 2019 compared to the out-performance of “Wonder” ($305.9 million) in the prior year quarter.

The company said Starz had a strong quarter, ending the period with 25.1 million overall domestic subscribers, which was up 1.1 million subscribers from the prior year quarter.

Revenue of Lionsgate’s media networks rose to $366.8 million due to strong streaming subscriber growth. Profit increased nearly 10 percent to $134.1 million from the prior year quarter.

Also Read: ‘Bohemian Rhapsody’ Boosts Fox Q2 Earnings Above Wall Street Expectations

The company’s TV production division revenue hit $216.5 million in the quarter, as profits dropped slightly to $21.2 million, compared with $27.8 million in the prior year quarter. The decline was driven, in part, by the timing of certain episodic deliveries which moved out of fiscal 2019, Lionsgate said.

Last month, Lionsgate Motion Picture Group Chairman Joe Drake sent an email to staff announcing a restructuring in the studio’s business operations that resulted in approximately 25 people losing their jobs. The majority of the the changes were a result of Lionsgate consolidating its marketing and distribution under one roof. The marketing division is run by Damon Wolf, who joined from Sony Pictures and started Jan. 1.

The studio also said it was ending its partnership with Codeblack, which focuses on films targeting African-American audiences. Codeblack will continue to operate autonomously under CEO Jeff Clanagan, and Lionsgate plans to continue to look for films targeting the African-American audience.

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Ryan Reynolds Is Set to Walk Down the Aisle in Lionsgate’s ‘Shotgun Wedding’

Kevin Hart to Star in ‘Monopoly’ Movie for Lionsgate, Hasbro

Lionsgate Lays Off About 25 in Restructure, Ends Codeblack Partnership

Can Lionsgate’s Movie Division Bounce Back After Getting Thrown ‘Overboard’ in 2018?

Twitter Shares Drop 10% On Q4 Downturn In Monthly Active Users

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Despite reporting better-than-expected profit and revenue in the fourth quarter, Twitter disclosed a decline in monthly active users, which has driven shares down 10% in early trading.
Shares were at $30.71 nearly two hours into the session, on above-a…

New York Times Operating Profits Shrink in Q4

Read on: TheWrapTheWrap.

The New York Times’ fourth quarter earnings report showed a mostly healthy balance sheet closing out 2018, but revealed that operating profits for the quarter were down millions of dollars from the same point in 2017.

“Operating profit decreased to $74.7 million in the fourth quarter of 2018 from $90.5 million in the same period of 2017 and adjusted operating profit,” the company told shareholders in a press statement Wednesday. “Adjusted diluted earnings per share from continuing operations … was $.32 in the fourth quarter of 2018 compared with $.38 in the fourth quarter of 2017.”

In a statement, company president and CEO Mark Thompson instead focused on the growth of digital revenue and reiterated the Times’ lofty subscriptions goals going into the next decade.

Also Read: Donald Trump Applauds Ex-New York Times Editor for Calling Paper ‘Unmistakably Anti-Trump’

“We ended 2018 with $709 million in total digital revenue. This means that after just three years, we are already three quarters of the way to achieving our five-year goal of doubling digital revenue to $800 million by 2020,” he said. “As a result we are setting ourselves a new goal — to grow our subscription business to more than 10 million subscriptions by 2025.”

Subscription growth has been an unadulterated bright spot for the paper, as paywalls begin cropping up around the entire media industry. In their last quarter earnings report, the Times revealed a total of four million print and digital subscribers. 

“Our appeal to subscribers — and to the world’s leading advertisers — depends more than anything on the quality of our journalism,” Thompson said. “That is why we have increased, rather than cut back, our investment in our newsroom and opinion departments. We want to accelerate our digital growth further, so in 2019, we will direct fresh investment into journalism, product and marketing.”

Also Read: New York Times Deletes ‘Poorly Framed’ Tweet About Nancy Pelosi’s ‘Hot Pink Dress’

The company said the decline was “principally due to the benefit from an extra week in the Company’s 2017 fiscal calendar and higher costs in 2018.”

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Donald Trump Applauds Ex-New York Times Editor for Calling Paper ‘Unmistakably Anti-Trump’

New York Times Deletes ‘Poorly Framed’ Tweet About Nancy Pelosi’s ‘Hot Pink Dress’

Ex-New York Times Editor Dings Paper as ‘Unmistakably Anti-Trump’ in New Book

New York Times Editor Says We ‘Need to Forgive’ Kevin Hart

Fox Reports Softer Q2 Results, “Significant Progress” Toward Closing Disney Deal

Read on: Deadline.

Continuing to put up steady results across its TV and film operations, 21st Century Fox posted softer earnings in its fiscal second quarter while reporting “significant progress” toward the closing of the Disney merger.
Total revenue of $8….