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By Dawn Kopecki, Dawn Chmielewski and Amy-Jo Crowley (Reuters) -Netflix is actively exploring a bid for Warner Bros Discovery's studio and streaming business, retaining a financial advisor and gaining access to financial information, according to three sources familiar with the matter. The video streaming service has hired Moelis & Co, the investment bank that advised Skydance Media on its successful bid for Paramount Global, to evaluate a prospective offer, two of the sources said. Netflix also has been granted access to the data room, which contains the financial details needed to make a bid, according to two of the sources familiar with the matter. Warner Bros Discovery and Moelis declined to comment. Netflix could not be reached for comment. Owning Warner Bros' studio business would give Netflix control over some of Hollywood's most successful stories and characters, including the Harry Potter and DC Comics franchises. Warner Bros' prolific television studio also produces many of Netflix's hits, including original series like "Running Point," "You" and "Maid." HBO and its companion streaming service would add more prestige dramas, and subscribers. Netflix CEO Ted Sarandos told investors last week that while the company is traditionally "more builders than buyers," it does evaluate acquisitions based on criteria such as the size of the opportunity and whether it would strengthen the company's entertainment offerings. Sarandos indicated Netflix would not be interested in acquiring Warner Bros Discovery's cable television networks, which include CNN, TNT, Food Network and Animal Planet. "We've been very clear in the past that we have no interest in owning legacy media networks," Sarandos said in the company's third-quarter investor video. "There is no change there." Warner Bros Discovery announced last week that it would begin evaluating options, after receiving a trio of unsolicited offers from Paramount Skydance to acquire the entire company. The company said its board would consider whether to move forward with its planned split, which would separate the Warner Bros film and television studios, HBO and the companion HBO Max streaming service from its television business, or pursue a sale of all or parts of the company. Comcast President Mike Cavanagh told investors on Thursday the company is evaluating media assets that would be "complementary" to its existing business. He also appeared to dismiss those who are skeptical of Comcast winning regulatory approval, saying "more things are viable than maybe some of the public commentary that's out there." (Reporting by Dawn Chmielewski in Los Angeles, Dawn Kopecki in New York and Amy-Jo Crawley in London; additional reeporting by Milana Vinn in New York; editing by Kenneth Li and Richard Chang)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Dawn Kopecki, Dawn Chmielewski and Amy-Jo Crowley (Reuters) -Netflix is actively exploring a bid for Warner Bros Discovery's studio and streaming business, retaining a financial advisor and gaining access to financial information, according to three sources familiar with the matter. The video streaming service has hired Moelis & Co, the investment bank that advised Skydance Media on its successful bid for Paramount Global, to evaluate a prospective offer, two of the sources said. Netflix also has been granted access to the data room, which contains the financial details needed to make a bid, according to two of the sources familiar with the matter. Warner Bros Discovery and Moelis declined to comment. Netflix could not be reached for comment. Owning Warner Bros' studio business would give Netflix control over some of Hollywood's most successful stories and characters, including the Harry Potter and DC Comics franchises. Warner Bros' prolific television studio also produces many of Netflix's hits, including original series like "Running Point," "You" and "Maid." HBO and its companion streaming service would add more prestige dramas, and subscribers. Netflix CEO Ted Sarandos told investors last week that while the company is traditionally "more builders than buyers," it does evaluate acquisitions based on criteria such as the size of the opportunity and whether it would strengthen the company's entertainment offerings. Sarandos indicated Netflix would not be interested in acquiring Warner Bros Discovery's cable television networks, which include CNN, TNT, Food Network and Animal Planet. "We've been very clear in the past that we have no interest in owning legacy media networks," Sarandos said in the company's third-quarter investor video. "There is no change there." Warner Bros Discovery announced last week that it would begin evaluating options, after receiving a trio of unsolicited offers from Paramount Skydance to acquire the entire company. The company said its board would consider whether to move forward with its planned split, which would separate the Warner Bros film and television studios, HBO and the companion HBO Max streaming service from its television business, or pursue a sale of all or parts of the company. Comcast President Mike Cavanagh told investors on Thursday the company is evaluating media assets that would be "complementary" to its existing business. He also appeared to dismiss those who are skeptical of Comcast winning regulatory approval, saying "more things are viable than maybe some of the public commentary that's out there." (Reporting by Dawn Chmielewski in Los Angeles, Dawn Kopecki in New York and Amy-Jo Crawley in London; additional reeporting by Milana Vinn in New York; editing by Kenneth Li and Richard Chang)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Dawn Kopecki, Dawn Chmielewski and Amy-Jo Crowley (Reuters) -Netflix is actively exploring a bid for Warner Bros Discovery's studio and streaming business, retaining a financial advisor and gaining access to financial information, according to three sources familiar with the matter. The video streaming service has hired Moelis & Co, the investment bank that advised Skydance Media on its successful bid for Paramount Global, to evaluate a prospective offer, two of the sources said. Netflix also has been granted access to the data room, which contains the financial details needed to make a bid, according to two of the sources familiar with the matter. Warner Bros Discovery and Moelis declined to comment. Netflix could not be reached for comment. Owning Warner Bros' studio business would give Netflix control over some of Hollywood's most successful stories and characters, including the Harry Potter and DC Comics franchises. Warner Bros' prolific television studio also produces many of Netflix's hits, including original series like "Running Point," "You" and "Maid." HBO and its companion streaming service would add more prestige dramas, and subscribers. Netflix CEO Ted Sarandos told investors last week that while the company is traditionally "more builders than buyers," it does evaluate acquisitions based on criteria such as the size of the opportunity and whether it would strengthen the company's entertainment offerings. Sarandos indicated Netflix would not be interested in acquiring Warner Bros Discovery's cable television networks, which include CNN, TNT, Food Network and Animal Planet. "We've been very clear in the past that we have no interest in owning legacy media networks," Sarandos said in the company's third-quarter investor video. "There is no change there." Warner Bros Discovery announced last week that it would begin evaluating options, after receiving a trio of unsolicited offers from Paramount Skydance to acquire the entire company. The company said its board would consider whether to move forward with its planned split, which would separate the Warner Bros film and television studios, HBO and the companion HBO Max streaming service from its television business, or pursue a sale of all or parts of the company. Comcast President Mike Cavanagh told investors on Thursday the company is evaluating media assets that would be "complementary" to its existing business. He also appeared to dismiss those who are skeptical of Comcast winning regulatory approval, saying "more things are viable than maybe some of the public commentary that's out there." (Reporting by Dawn Chmielewski in Los Angeles, Dawn Kopecki in New York and Amy-Jo Crawley in London; additional reeporting by Milana Vinn in New York; editing by Kenneth Li and Richard Chang)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Dawn Kopecki, Dawn Chmielewski and Amy-Jo Crowley (Reuters) -Netflix is actively exploring a bid for Warner Bros Discovery's studio and streaming business, retaining a financial advisor and gaining access to financial information, according to three sources familiar with the matter. The video streaming service has hired Moelis & Co, the investment bank that advised Skydance Media on its successful bid for Paramount Global, to evaluate a prospective offer, two of the sources said. Netflix also has been granted access to the data room, which contains the financial details needed to make a bid, according to two of the sources familiar with the matter. Warner Bros Discovery and Moelis declined to comment. Netflix could not be reached for comment. Owning Warner Bros' studio business would give Netflix control over some of Hollywood's most successful stories and characters, including the Harry Potter and DC Comics franchises. Warner Bros' prolific television studio also produces many of Netflix's hits, including original series like "Running Point," "You" and "Maid." HBO and its companion streaming service would add more prestige dramas, and subscribers. Netflix CEO Ted Sarandos told investors last week that while the company is traditionally "more builders than buyers," it does evaluate acquisitions based on criteria such as the size of the opportunity and whether it would strengthen the company's entertainment offerings. Sarandos indicated Netflix would not be interested in acquiring Warner Bros Discovery's cable television networks, which include CNN, TNT, Food Network and Animal Planet. "We've been very clear in the past that we have no interest in owning legacy media networks," Sarandos said in the company's third-quarter investor video. "There is no change there." Warner Bros Discovery announced last week that it would begin evaluating options, after receiving a trio of unsolicited offers from Paramount Skydance to acquire the entire company. The company said its board would consider whether to move forward with its planned split, which would separate the Warner Bros film and television studios, HBO and the companion HBO Max streaming service from its television business, or pursue a sale of all or parts of the company. Comcast President Mike Cavanagh told investors on Thursday the company is evaluating media assets that would be "complementary" to its existing business. He also appeared to dismiss those who are skeptical of Comcast winning regulatory approval, saying "more things are viable than maybe some of the public commentary that's out there." (Reporting by Dawn Chmielewski in Los Angeles, Dawn Kopecki in New York and Amy-Jo Crawley in London; additional reeporting by Milana Vinn in New York; editing by Kenneth Li and Richard Chang)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Leo Marchandon (Reuters) -Universal Music Group on Thursday reported third-quarter revenue above market expectations with Taylor Swift's new release boosting physical album sales. The world's biggest music label, which also counts South Korean boy band BTS in its portfolio, said quarterly revenue grew 5% year-on-year to 3 billion euros ($3.5 billion), topping the 2.95 billion average analyst forecast provided by LSEG. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 7% to 594 million euros. Streaming and subscription, which account for more than half of UMG's income, only grew around 2% to 1.52 billion euros. Income from streaming platforms shrank by 5% as consumers shifted to less profitable platforms, the company said, without giving further details. TAYLOR SWIFT BOOSTS PHYSICAL SALES, NOT STREAMING UMG's physical sales, accounting for around 10% of total revenue, rose 18.5% to 341 million euros, lifted by Swift's 'The Life of a Showgirl' release. "What Taylor has achieved with her 12th studio album is literally breathtaking," CEO Lucian Grainge said on an earnings call. "The biggest first week in music history now belongs to 'The Life of a Showgirl'," he added.  The record sold over four million copies in the United States, and a further five and a half million globally, handing Swift her fifteenth number one album spot, a record for a solo artist. However, the release has not significantly lifted streaming revenue, as UMG already benefits from premium rates on Swift's existing catalog. Analysts said that global streaming adoption has plateaued, limiting further growth. "Our music chart tracker reveals that UMG artists held a 54% share of the global top 50 songs in Q3 2025, sequentially higher than Q2", Deutsche Bank analyst Silvia Cuneo said in a note. FOCUS ON 'SUPERFANS' UMG is diversifying its revenue streams through merchandising, tiered subscription services with exclusive content, and premium digital experiences, targeting the cost-committed "superfans" of top artists.  Merchandising revenue rose 9% year-on-year to 259 million euros, driven by stronger sales of touring merchandise, although growth was tempered by the timing of new product launches, the company said in a statement.  "Looking ahead, Q4 should incrementally benefit from the new Taylor Swift album released in October", Cuneo added.      ($1 = 0.8575 euros) (Reporting by Leo Marchandon; Editing by Matt Scuffham, Kirsten Donovan)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Leo Marchandon (Reuters) -Universal Music Group on Thursday reported third-quarter revenue above market expectations with Taylor Swift's new release boosting physical album sales. The world's biggest music label, which also counts South Korean boy band BTS in its portfolio, said quarterly revenue grew 5% year-on-year to 3 billion euros ($3.5 billion), topping the 2.95 billion average analyst forecast provided by LSEG. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 7% to 594 million euros. Streaming and subscription, which account for more than half of UMG's income, only grew around 2% to 1.52 billion euros. Income from streaming platforms shrank by 5% as consumers shifted to less profitable platforms, the company said, without giving further details. TAYLOR SWIFT BOOSTS PHYSICAL SALES, NOT STREAMING UMG's physical sales, accounting for around 10% of total revenue, rose 18.5% to 341 million euros, lifted by Swift's 'The Life of a Showgirl' release. "What Taylor has achieved with her 12th studio album is literally breathtaking," CEO Lucian Grainge said on an earnings call. "The biggest first week in music history now belongs to 'The Life of a Showgirl'," he added.  The record sold over four million copies in the United States, and a further five and a half million globally, handing Swift her fifteenth number one album spot, a record for a solo artist. However, the release has not significantly lifted streaming revenue, as UMG already benefits from premium rates on Swift's existing catalog. Analysts said that global streaming adoption has plateaued, limiting further growth. "Our music chart tracker reveals that UMG artists held a 54% share of the global top 50 songs in Q3 2025, sequentially higher than Q2", Deutsche Bank analyst Silvia Cuneo said in a note. FOCUS ON 'SUPERFANS' UMG is diversifying its revenue streams through merchandising, tiered subscription services with exclusive content, and premium digital experiences, targeting the cost-committed "superfans" of top artists.  Merchandising revenue rose 9% year-on-year to 259 million euros, driven by stronger sales of touring merchandise, although growth was tempered by the timing of new product launches, the company said in a statement.  "Looking ahead, Q4 should incrementally benefit from the new Taylor Swift album released in October", Cuneo added.      ($1 = 0.8575 euros) (Reporting by Leo Marchandon; Editing by Matt Scuffham, Kirsten Donovan)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Leo Marchandon (Reuters) -Universal Music Group on Thursday reported third-quarter revenue above market expectations with Taylor Swift's new release boosting physical album sales. The world's biggest music label, which also counts South Korean boy band BTS in its portfolio, said quarterly revenue grew 5% year-on-year to 3 billion euros ($3.5 billion), topping the 2.95 billion average analyst forecast provided by LSEG. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 7% to 594 million euros. Streaming and subscription, which account for more than half of UMG's income, only grew around 2% to 1.52 billion euros. Income from streaming platforms shrank by 5% as consumers shifted to less profitable platforms, the company said, without giving further details. TAYLOR SWIFT BOOSTS PHYSICAL SALES, NOT STREAMING UMG's physical sales, accounting for around 10% of total revenue, rose 18.5% to 341 million euros, lifted by Swift's 'The Life of a Showgirl' release. "What Taylor has achieved with her 12th studio album is literally breathtaking," CEO Lucian Grainge said on an earnings call. "The biggest first week in music history now belongs to 'The Life of a Showgirl'," he added.  The record sold over four million copies in the United States, and a further five and a half million globally, handing Swift her fifteenth number one album spot, a record for a solo artist. However, the release has not significantly lifted streaming revenue, as UMG already benefits from premium rates on Swift's existing catalog. Analysts said that global streaming adoption has plateaued, limiting further growth. "Our music chart tracker reveals that UMG artists held a 54% share of the global top 50 songs in Q3 2025, sequentially higher than Q2", Deutsche Bank analyst Silvia Cuneo said in a note. FOCUS ON 'SUPERFANS' UMG is diversifying its revenue streams through merchandising, tiered subscription services with exclusive content, and premium digital experiences, targeting the cost-committed "superfans" of top artists.  Merchandising revenue rose 9% year-on-year to 259 million euros, driven by stronger sales of touring merchandise, although growth was tempered by the timing of new product launches, the company said in a statement.  "Looking ahead, Q4 should incrementally benefit from the new Taylor Swift album released in October", Cuneo added.      ($1 = 0.8575 euros) (Reporting by Leo Marchandon; Editing by Matt Scuffham, Kirsten Donovan)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Kritika Lamba (Reuters) -Fox Corp unveiled a $1.5 billion share buyback as streaming platform Tubi's first profitable quarter and strong viewership ratings for its news and NFL broadcasts powered its earnings past expectations. The shares rose 7% as Thursday's results announcement showed the company's strong digital growth and live programming were offsetting pressure from a soft cable TV market and rising content costs. Its recently launched subscription service, Fox One, is gaining traction through bundles with ESPN and Verizon, building on momentum from its Amazon Prime Channels tie-up. Fox's ad revenue rose 6% in the first quarter on 27% growth at Tubi and an 18% increase in viewing time for the free streaming service. Tubi turning profitable marked a major milestone for the ad-supported streamer Fox bought in 2020, which has become a key growth driver by attracting younger, cord-cutting viewers unwilling to pay for subscriptions. It has carved a niche in the crowded streaming market with content that includes everything from licensed movies and series to original programming. "It (Tubi) has the most original selection of programming among free streaming services. It is gaining time-spent faster than several of its rivals due to its unique content offering," said Ross Benes, senior analyst at Emarketer. On the sports side, National Football League programming on Fox averaged nearly 22 million viewers in September – up 12% from last year and marking the network's strongest start to an NFL season ever. Segment-wise, cable network programming revenue rose 4% to $1.66 billion, with advertising up 7% and distribution up 3%, supported by higher affiliate fees across divisions. Fox's first-quarter revenue rose 5% to $3.74 billion, compared with the estimates of $3.57 billion, according to data compiled by LSEG. Adjusted profit attributable to Fox's stockholders was $1.51 per share, compared with the estimates of 1.08 per share. (Reporting by Kritika Lamba in Bengaluru; Editing by Anil D'Silva and Devika Syamnath)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -Fox Corp beat estimates for quarterly revenue on Thursday, driven by continued digital growth at free streaming service Tubi and stronger ratings and ad pricing across its news and NFL broadcasts, sending its shares up 5% before the bell. The company also announced plans for a $1.5 billion accelerated share repurchase, set to begin on Oct. 31, adding to the $6.85 billion already repurchased under its existing authorization. The results highlight the company's reliance on digital growth and live programming to offset pressure from a soft cable TV market and rising content costs. Fox's recently launched subscription service, Fox One, is gaining traction through strategic bundle partnerships with ESPN and Verizon, as it builds on momentum from its collaboration with Amazon Prime Channels, the company said. Advertising revenue rose 6% in the first quarter, bolstered in part by Tubi, which posted 27% revenue growth that was fueled by an 18% increase in total viewing time. The platform also reached profitability during the quarter, cementing its status as the premium ad-supported video-on-demand service in the U.S. and attracting younger, cord-cutting audiences shifting away from traditional television. On the sports side, the NFL on Fox averaged nearly 22 million viewers in September – up 12% from last year and marking the network's strongest start to an NFL season ever. Segment-wise, cable network programming revenue rose 4% to $1.66 billion, with advertising up 7% and distribution up 3%, supported by higher affiliate fees at both its cable network and television divisions. The company's first-quarter revenue rose 5% to $3.74 billion, compared with the estimates of $3.57 billion, according to data compiled by LSEG. Adjusted profit attributable to Fox's stockholders was $1.51 per share, compared with the estimates of 1.08 per share. (Reporting by Kritika Lamba in Bengaluru; Editing by Anil D'Silva)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -Fox Corp beat estimates for quarterly revenue on Thursday, driven by continued digital growth at free streaming service Tubi and stronger ratings and ad pricing across its news and NFL broadcasts. The results highlight the company's reliance on digital growth and live programming to offset pressure from a soft cable TV market and rising content costs. Advertising revenue rose 6% in the first quarter, partly riding on the strength in Tubi's streaming platform. Tubi continued to be a bright spot for Fox, widening the company's footprint in the fast-growing ad-supported streaming market and pulling in younger, cord-cutting viewers who are turning away from traditional television. The company also announced plans for a $1.5 billion accelerated share buyback. Segment-wise, cable network programming revenue rose 4% to $1.66 billion, with advertising up 7% and distribution up 3%, supported by higher affiliate fees at both its cable network and television divisions. The company's first-quarter revenue rose 5% to $3.74 billion, compared with the estimates of $3.57 billion, according to data compiled by LSEG. Adjusted profit attributable to Fox's stockholders was $1.51 per share, compared with the estimates of 1.08 per share. (Reporting by Kritika Lamba in Bengaluru; Editing by Anil D'Silva)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)