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Paramount Meets Regulatory Clearances for Warner Bros. Acquisition

"Now Streaming" is The Fly's weekly recap of the stories surrounding the biggest content streamers.PLAYING THIS WEEKEND:This weekend's most notable streaming content is the fifth and final season of Netflixmystery teen drama "Outer Banks." Meanwhile, Hulusubscribers can catch the first episode of the new season of comedy series "It's Always Sunny in Philadelphia," while HBO Maxusers can stream psychological drama film "Mother Mary," starring Anne Hathaway and Michaela Coel.PARAMOUNT/WARNER BROS.:Last Friday, Paramount Skydancesaid it has satisfied all regulatory clearances required under the merger agreement to close its proposed acquisition of Warner Bros. Discovery. The company said, "The eight-month review process has spanned 68 countries worldwide, including the European Union, UK, Australia, Canada, Brazil, China, COMESA, the U.S. Department of Justice and, most recently, Mexico, which announced its clearance today. These independent regulators from across the globe applied the law and market definitions that reflect how audiences consume entertainment and how media companies compete today - and have consistently found no basis to prevent the transaction from moving forward. Paramount and WBD could and would close today and begin delivering the benefits recognized by regulators around the world, theater owners and others across the industry but for the actions of just 12 state attorneys general." Paramount urges the 12 state attorney generals who brough litigation to "engage with us in good faith, as we have repeatedly sought to do, to resolve this litigation and clear the way to bring these two companies together."Meanwhile, Reuters' David Shepardson reported this week that Paramount has asked a U.S. judge to require states challenging the acquisition of Warner Bros. to post a $1.88B bond to address the costs caused by the delays. The company must pay $7M a day if the $110B merger does not close by September 30. Paramount noted trials with the states is scheduled for March and final legal briefs are in April, which would result in Paramount Skydance paying Warner Bros $1.3B in "ticking fees."Additionally, while a dozen state attorneys general argue the takeover of Warner Bros. Discovery would hurt movie theaters, chains controlling 60% of the U.S. market now argue the opposite, Brooks Barnes of The New York Times reported. Cinemarkis the latest movie theater owner to support CEO David Ellison's deal, pointing to Ellison's "firm" commitment for at least 30 movies in theaters each year, waiting at least 45 days before making them available on streaming, and 90 days before being put on subscription streaming services. AMC Entertainmentendorsed the transaction in April after similar assurances from Ellison. Regal similarly followed suit this month.PEACOCK PRICE:Effective August 18, the prices of Peacocksubscription plans have changed. A Peacock Select monthly subscription is now $8.99/month up from $7.99. A Peacock Premium monthly subscription is now $12.99/month up from $10.99. A Peacock Premium Plus monthly subscription is now $19.99/month up from $16.99. A Peacock Select annual subscription is now $89.99/year up from $79.99. A Peacock Premium annual subscription is now $129.99/year up from $109.99. A Peacock Premium Plus annual subscription is now $199.99/year up from $169.99. The company said, "These price changes allow Peacock to continue to create the best experience for its viewers, remain competitive in the marketplace, and deliver unique content across all genres. Current annual subscribers, or any users on active promotional offers, will continue at their current prices until those plans or offers expire. Subscriptions will then renew at the new price."DISNEY/FCC:Disney's ABC is suing the FCC, arguing that its efforts to challenge ABC's broadcast licenses and regulate The View are unconstitutional attempts to suppress speech, The Wall Street Journal's Joe Flint reported. ABC's current fight with the FCC stems from a broader dispute that began with Brendan Carr's investigation into Disney's DEI practices, while ABC executives viewed the probe as connected to criticism from programs including Jimmy Kimmel Live! and The View, Flint said. The FCC maintains the DEI review is focused on potential discrimination violations and is separate from programming, while ABC argues the investigations have become a means of pressuring the network over its speech.YOUTUBE/NETFLIX:YouTubeis offering millions of dollars to popular channels on its platform if they upload videos exclusively to the site for a period of time, Lucas Shaw of Bloomberg reported, citing people familiar with the matter. YouTube is hoping to halve Netflix's pursuit of its top stars. The company has not yet finalized any deals with creators but is close to an agreement with several partners, the sources added.STOCK PLAYS:Other publicly traded companies in the streaming space include Apple, Roku, Fox, Amazon, AMC Global Media, and Fubo.

Disney Reports Better-Than-Expected Q3 Earnings, Plans to Triple Local Originals on Disney+ in Three Years

"Now Streaming" is The Fly's weekly recap of the stories surrounding the biggest content streamers.PLAYING THIS WEEKEND:This weekend's most notable new streaming content is Netflixscience fiction thriller film "The Last House," starring Greta Lee and Wagner Moura.DISNEY RESULTS:Disneyreported better-than-expected Q3 adjusted earnings this week, though revenue was just below consensus. Of note, the company said, "On the direct-to-consumer front, early success in our emerging international programming slate gives us confidence to further ramp investment. Rivals season 2 became the biggest EMEA region original premiere in the UK and Ireland on Disney+. The Perfect Crown became the most-watched Korean premiere on Disney+ globally to date. And Dear Killer Nannies is the #1 most viewed LATAM original premiere globally over the past year on Disney+. Across the next three years we plan to roughly triple the number of local original series on Disney+ to drive new international users to the platform and reduce churn."Along with the quarterly print, Disney and TikTok announced what they call "a first-of-its-kind global deal that will bring fans and creators alike a unique way to discover and create content utilizing memorable scenes and moments from Disney movies and shows." The companies stated: "The agreement, which will pilot in the US in the coming months with the intention of other markets to follow, will bring an expansive collection of thoughtfully curated Disney-centric fan-created content from TikTok to the Disney+ app. At launch, short-form videos from participating creators who opt-in to the program will live on both TikTok and in Verts on Disney+ and feature characters and stories from across Disney's brands including Pixar, Marvel, Star Wars, FX and more. TikTok will offer their creators access to assets related to hundreds of films and series from Disney's vast library of enduring franchises and beloved IP. Fans will enjoy a shared Disney experience with TikTok videos that will be refreshed regularly to engage subscribers more deeply in timely fan conversations, building stronger communities, and ultimately, helping them engage with more story formats across Disney+."PARAMOUNT RESULTS:Meanwhile, Paramount Skydancealso reported mixed Q2 results, with EPS missing Wall Street estimates but revenue coming in above consensus. Of note, Paramount said Q2 was its best quarter for retention in Paramount+'s history, powered by Dutton Ranch, UFC, and the FIFA World Cup non-exclusively across six countries in Latin America, gaining roughly 2M new Paramount+ subscribers in the quarter to reach 81.6M worldwide.WARNER BROS. RESULTS:Warner Bros. Discoveryreported topline beat for Q2, though revenue fell short of consensus estimates. Of note, the company said about HBO Max, "Building on a successful second season of The Pitt, we premiered the final seasons of Hacks and Euphoria, both of which resonated deeply with returning fans while attracting new audiences to the platform. The final season of Hacks was the highest viewed season of the series and set a record for the most Emmy nominations received by a comedy in a single year. Season 3 of Euphoria continue its run as a cultural phenomenon, reaching 27 million global viewers per episode and currently ranks among HBO Max's three most-watched returning seasons globally. Concluding its third and final season, Euphoria is now the top series for subscriber acquisitions in platform history."CMA:Also this week, The United Kingdom Competition and Markets Authority has formally cleared the acquisition of Warner Bros. Discovery by Paramount Skydance, "representing an important milestone in completing the transaction," the company stated. "Paramount is grateful to the CMA for its constructive engagement and its review of the transaction."FOX RESULTS:Fox Corp.reported better-than-expected Q4 adjusted EPS and revenue. Commenting on the results, Executive Chair and Chief Executive Officer Lachlan Murdoch said: "Fiscal 2026 was an exceptional year for FOX, capped by our broadcast of a remarkable FIFA Men's World Cup. We successfully launched our direct-to-consumer streaming service, FOX One, continued to keep America informed across a dynamic news cycle, enhanced Tubi's position as a leading streaming service, and announced the acquisition of Rokuwhich will transform the scope and growth profile of our company. Financially, these milestones were underpinned by the delivery of record top-line revenue which converted into record EBITDA. With strong momentum across our portfolio, we enter fiscal 2027 exceptionally well positioned to drive sustained growth and long-term shareholder value."FUBO RESULTS:Additionally, FuboTVreported downbeat Q3 results, with CEO Alisa Bowen saying, "Since my appointment in July, my confidence in FuboTV's differentiation and unique growth prospects has only continued to build. Our third quarter performance demonstrated strong subscriber acquisition, underpinned by our unparalleled ability to provide a compelling viewing experience to fans during high-profile sports events like the NBA Finals and the FIFA World Cup 2026 with flexible programming packages and innovative user experiences. We also saw strength in our advertising business, with encouraging improvements in advertising capacity utilization and CPMs since completing our integration with Disney Advertising. As we look to build on this momentum, my focus is on accelerating the growth of FuboTV, by refining and expanding our packaging options, broadening our distribution and investing in user experience innovation that enhances flexibility, choice and value for the consumer. I am working closely with our FuboTV team, Disney leadership and all our valued partners to evolve our strategy and, in the months ahead, I look forward to sharing more details on our plans to drive shareholder value."'GRAND THEFT AUTO VI':Take-Two'sRockstar Games announced that "Grand Theft Auto VI: An Extended Look" will premiere on NetflixThursday, August 27 at 3 p.m. ET and will also launch on the official Rockstar Games YouTubechannel and the Grand Theft Auto VI site at 9 p.m. ET on August 27. "Grand Theft Auto VI" is coming November 19 to PlayStation 5and Xbox Series X/S, the company added.STOCK PLAYS:Other publicly traded companies in the streaming space include Apple, Comcast, and Amazon.