company's most recent annual report on Form 10-K and its reports on Form 10-Q and Form 8-K. with that, I am pleased to turn the call over to David. For those that are happy paying $5 or $7 and having home, food, Discovery and own type content. On Location Casting ATLANTA area, GA (SAVANNAH/JEKYL ISLAND) BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' By Kevin P. King - March 10, 2022 684 0 Advertisements On Location Casting ATLANTA area, GA (SAVANNAH/JEKYL ISLAND) BACKGROUND Casting Notice Advertisements Table of Contents Brought to you by Wizarding World Digital, a partnership between Warner Bros. and Pottermore. We have command and control of each of the businesses. How much do you feel like is more reflective of some of the underlying trends that just have to do with ratings declines or core cutting and those types of trends? Obviously, successful films will help your Studio segment earnings. We want to tell the best stories, share them with the broadest audience possible, and we do that by working together as 1 team, 1 company. We've rightsized the content investments. Having said that, as we face this next upfront, which is coming up in two months, I think the breadth of our content together with where we go in on price, positions us very well. Discovery ( WBD) CEO David Zaslav promised 2023 will be WBD's year after the media giant reported fourth quarter earnings results that missed across the board on Thursday. We are committed to continue executing our strategic initiatives to drive top line performance and with much repositioning behind us, we are beginning to fully lean into the opportunities ahead of us. Discovery Cuts Scripted Programming at TBS, TNT. Currency was an approximate $100 million headwind to EBITDA for the quarter and near $200 million headwind for the full year. First, let me say, this promises to be a very exciting year for our company. We believe in it because we believe we have the best menu of content, the best portfolio, the best quality. MACON RUSH CALL BACKGROUND Casting Notice *Warner Bros FEATURE FILM: "The Color Purple-The Musical' LOCATION: Macon, GA By Kevin P. King - April 7, 2022 487 0 Advertisements On Location Casting *RUSH CALL* - TODAY! Warner Bros. They are also looking for actors between 16 and 18 to portray both Gellert Grindelwald and Albus Dumbledore as teenagers. We also made a decision in the upfront to drive price rather than extra volume. In addition to less activity in home entertainment, given the leaner theatrical release schedule in 2022, which was very much a result of deliberate decisions we made about specific titles and overall release dates. I think the focus for many of us is usually each company's top profitability, but maybe there's not enough attention to the fact that each of these moves could have pretty dramatic impacts to the industry and competitive landscape. Note that merger and integration-related cash costs totaled nearly $150 million in Q4 and nearly $800 million for the year, in addition to a nearly $350 million headwind from securitization and factoring since the closing of the deal in early April. Do your homework, find out if the casting call is legit, find out who the casting director is for the show or movie and make sure everything matches up. The dreaded post-merger Warner Bros Discovery layoffs have reached the programming operation overseen by HBO and HBO Max Chief Content Officer Casey Bloys. And Lord of the Rings, which is a fantastic franchise, Andy Jassy was pushing on it at Amazon with a lot of success, but we own those movie rights. Interested in future casting calls or joining our casting division? So I think that I'm hyper-focused on this, meeting once a week with the team, but getting our stride as a new working team, and I feel like we're starting to get some momentum on that. Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. . And as we think about where we put content, as Casey looked at HBO, we were able to see which content are people spending time watching, what content is really powerful to us in terms of reducing churn. And that is what all great talent wants. She's also restructured the team with development-focused doers, who are running this portfolio as one integrated portfolio. Such a move has been expected for quite some time, given Warner Bros. We can take you into the theater around the world. [Operator Instructions] Our first question comes from Jessica Reif Ehrlich with Bank of America. We've already seen more than $850 million in retail sales, and we still have more platforms launching over the next few months. With respect to the cadence of free cash flow, as is historically the case for both legacy Discovery and WarnerMedia, Q1 free cash flow will represent the low point for the year given the timing of sports rights payments, timing of content outlays and cash interest payments on a large portion of the acquisition debt. And we're seeing some real opportunity here. SVOD and ad-lite tiers and a significantly enhanced product platform to drive better performance, improved user experience and stronger engagement. And there's a number of uncertainties as you wouldn't be surprised to hear. Casey and the team continue to fuel critical and audience acclaimed with globally resident content, driving improvements in engagement and churn, which is setting up a nice tailwind into the relaunch. Discovery, ensuring it will remain as the exclusive Australian home of HBO, Max Originals, Warner Bros. and Discovery programming. But -- and I know it's a tough question to put numbers around. No, the only thing I would add is from the perspective of cyclical versus secular, there's no doubt. Participants must have the right to work in the United States or Canada. So that storytelling IP. TM & WBEI. It's working. Ladies and gentlemen, thank you for standing by, and welcome to Warner Bros. To apply for the Fantastic Beasts open casting call, email [emailprotected] with a recent colour photograph, (i.e., taken within the last two months), contact telephone number, your home address and date of birth. Or is that something that might fuel that service? [Operator Instructions] Additionally, please be advised that today's conference call is being recorded. It's a wow. Turning to Networks. Anyone under 18 must ask a parent or guardian to send the application. Is there any of your content that's definitely off the table to be included in that service? Let me start with the second question. I think it could and should be huge because it wasn't being pushed on. https://forms.gle/pSmy15EJENw7foXi9 Advertisements We reduced EBITDA losses by $500 million year-over-year to $200 million in Q4, supported by 1.1 million net sub adds in the quarter. Naturally, we are laser-focused on delevering the balance sheet, where I see net leverage very comfortably inside of 4x by the end of 2023 and reiterate our prior guidance to be within the investment grade range by mid-2024 and within our gross leverage target of 2.5x to 3x by the end of 2024. But the digital inventory, which really held up in the fourth quarter has also softened. And so you put the Discovery+ and HBO Max proposition together at a great value, and we think we deliver something that ultimately has something for everybody in the household, which will help us on scale and help us on churn, which are the two major ingredients we're focused on as well as obviously engagement. We're excited about JV's product relaunch in the second quarter, but those are uncertain factors that's very early in the year. That's the power of streaming. More on this from Gunnar in a minute, but I'm pleased with the trend line we see in Q1, particularly as we are managing towards close to breakeven segment EBITDA in the quarter. We are not conducting any type of audition. And I believe in that, having been in this business for 30 years, I think in order to really drive asset value, you need to drive price. And I think I just only add go ahead. And while this is indeed encouraging, we're hesitant to forecast any meaningful near-term revenue improvement. We have storytelling and games with Hogwarts, which is really off to a tremendous start for us. So again, as I said, a similar picture with more diversity. No question about that. It's significantly better outside the U.S. right now, which is a surprise. The Hogwarts game, we took several additional months to rework it, to get it right. Sure. Warner Bros. Hello, everyone, and thank you for joining us. Here we have mentioned the name of the founder below here on page read it carefully. If all else fails, take your mother's advice - if it seems too good to be true, it probably is. Global core subscribers increased 1.1 million sequentially and 10 million year-on-year, while global ARPU increased as well modestly to $7.58. An important reference point for the value of our combined portfolio of networks to our distribution partners. That's what led us to the conclusion that direct to streaming movies were providing really no value to us. - David Spade, 'Nothing Personal' 2022. And on the traditional side, we renewed agreements representing 30% of our U.S. affiliate revenues. "I was in the movie 'Grown Ups'. On the 12th, we'll lay out to you, we have a clear attack plan, where we'll drive this really across the country and into markets around the world with conviction. And we take that across film, TV and even to sell to third parties, because we have something, we have a treasury that no one else has. And then we have the ability to pick from all of these different baskets to build really what may be most important for us, which is a successful and profitable streaming business. Before we start, I'd like to remind you that today's conference call will include forward-looking statements that we make pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. And so we want to optimize that as a unified strategy for the company. HBO has never been stronger and is firing on all cylinders behind the recent successes of HBO Originals, Euphoria, House of the Dragon, White Lotus, and our newest mega hit, The Last Of Us. David, maybe just to sort of wrap up that on the content side. We've got some tests going on and it's very early, but some of the numbers that are coming in are looking exciting. Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. In an increasingly challenging environment, we were able to deliver over $3.3 billion of reported free cash flow in 2022, a healthy conversion, notwithstanding significant merger and integration-related expenses. The Warner Bros. Television Workshop is the premier program for new writers and. Discovery, Inc. (NASDAQ:WBD) Q4 2022 Earnings Conference Call February 23, 2023 4:30 PM ET, Andrew Slabin - Executive Vice President, Global Investor Strategy, David Zaslav - President and Chief Executive Officer, Gunnar Wiedenfels - Chief Financial Officer, Jean-Briac Perrette - Chief Executive Officer and President, Global Streaming and Interactive. Nov 3, 2022 2:02pm PT Warner Bros. And on the 2023. Warner Bros. It's 1 of the biggest value creation opportunities for us. Her Barbie looks like a version of Robbie's Sharon Tate, or. This company every year give up the chance for new talents. So David, as you said, '22 was a year of really heavy lifting and you had challenges really in every division, whether it was film, advertising, CNN, et cetera -- I mean, macro, et cetera, D2C. In every country, they'll leave dinner and they got to go home to view that product that they love. And then on the affiliate side, renewing 30% of your affiliate deals. That is what we're tracking in our system today, specific initiatives with associated direct financial impact, responsible owner and detailed milestone plans. It's about the sustainability and the longevity the free cash flow being delivered by that segment. Though like in the U.S., we're being mindful about overall visibility in regional, macro and political influences. And so we were able, in many ways, to Monday morning quarterback. The replay can be accessed by phone by dialing +1 877-674-7070 or +1 416-764 . And on the potential for the balance sheet, the balance sheet improvement is very encouraging. While visibility remains limited, we are seeing revenue trends very modestly improving sequentially in certain pockets. Some of them we may find we need to adjust, but we feel really good about where we are, and we're accelerating forward. We were able to put that to work behind some of cases launches, behind some of our film launches. The Voice, the #1 most watched unscripted show on network TV. Storytelling content is most powerful when you're watching it and then you're with others, either in a theater, or you're able to talk about it either online or with your friends, that's the power of content, not when you're viewing content alone. Sir, you may now begin. Clearly, as we have pointed out as a key risk since the summer, underlying advertising trends, particularly in the U.S., have continued to soften through the fourth quarter, and that was further exacerbated by general entertainment audience declines. And I'm very, very glad that we put out some targets in the summer of last year, and we were able to hit those targets. December 13, 2021. filming in Atlanta, GA. COVID TEST: TUESDAY JANUARY 10, 2023 FILM (1 DAY BOOKING) - WEDNESDAY JANUARY 11, 2023 RATE: $175/12 (DAILY) + $25 COVID I'd like to ask about advertising trends you're seeing and maybe kind of advance this discussion a bit more. And we've also introduced digital advertising on HBO, which advertisers are very excited about being able to be in these marquee shows. I believe we've barely begun to scratch the surface in terms of the potential here, and I'm excited about the benefits as this cascades throughout the organization. You're going to see us fighting at Warner Bros. on the Motion Picture side, in order to really -- I think there's a huge opportunity on the Warner Bros. Motion Picture side for investment in quality content and storytelling. We got some of the best creatives in the industry right now focused on those swings. Casting call: Warner Brothers feature film "The Curious Incident of the Dog in the Night-Time" by admin Seeking a neurodivergent actor to play lead role The Curious Incident of the Dog in the Night-Time is a Warner Bros. feature film expected Discovery is a storytelling company and we are very fortunate to have a huge share of the most beloved and globally recognized storytelling IP in the world, including Harry Potter, Game of Thrones, Superman, Batman, Lord of the Rings, and we intend to take full advantage of these one-of-a-kind franchises across our various platforms. Warner Bros Pictures Casting 2023 Open Call Dates Roles Check here. The studio is looking for young people to play five new roles in the film, including teenage incarnations of Newt Scamander, Leta Lestrange, Gellert Grindelwald and Albus Dumbledore. That's not the point. We have Channing and her team right now with the #1 or #2 show on almost every platform in America where we're selling to all of our -- to our peers in the business. Today, with direct-to-consumer, more and more people are joining the party. And there's lots more to come including the highly anticipated Mortal Combat 12 and Suicide Squad - Kill The Justice League, games also set for release this year with ambitious launch projections. Discovery Increases Cost-Cutting Synergies Target to $3.5 Billion By Jennifer Maas Warner Bros Discovery Six months after the merger of WarnerMedia and. We have an unusual situation. CAB Castings, LLC. Just simply that for those that have Discovery right now, the churn is very low and it's profitable, Discovery+. During the fourth quarter of 2022, Warner Bros. In answering that question, you reiterated something you'd said before, which was an intent to fold the Discovery content into the new product. Among them, the integration and repositioning of our global finance organization through which we implemented a number of initiatives to drive efficiency and better support the company's long-term sustainable growth. We have a fantastic leadership team moving us forward, everyone rowing in the same direction. International markets continue to perform relatively better, stronger markets such as Poland and Italy were in part offset by weaknesses in the UK, Nordics and certain Latin American countries. China calls for Russia-Ukraine cease-fire, . Accordingly, we expect free cash flow in the first quarter to be negative. Use the form below to submit your basics and we'll reach out to you when the next big film casts! We're excited about the upcoming launch of the [ENHANZE] product and look forward to sharing more details at a press event on April 12. And so we -- as the largest owner and producer of content in the world, we'll -- we want to super serve effectively our streaming service, which is a top priority as well as an AVOD service so that we could reach everyone in every country, everywhere in the world. Discovery. Participants must be fully vaccinated for COVID-19 and show proof of vaccination. The guidance does not include any asset sales. So I think we're very well positioned. Sir, you may now begin. Discovery, Inc. Fourth Quarter 2022 Earnings Conference Call. Discovery, Inc.. And on the 2023 outlook, look, it's early in the year. So those candidates who are interested must have checked the companys full details. Discovery CEO David Zaslav attends NRDC's "Night Of Comedy" Honoring Anna Scott Carter at Casa Cipriani on September 20, 2022 in New York City. 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