February 27, 2015 4:39 PM ET

Media

Company Overview of Warner Bros. Entertainment, Inc.

Company Overview

Warner Bros. Entertainment, Inc., an entertainment company, creates, produces, markets, distributes, and licenses various forms of entertainment and their related businesses across various media and platforms in the United States and internationally. The company specializes in various entertainment activities, including feature films, television, home entertainment/DVD, animation, product and brand licensing, interactive entertainment, comic books, digital distribution, video games, international cinemas, and broadcasting. It also develops and produces musicals and other stage productions for the studio; and operates an online store. The company was founded in 1923 and is based in Burbank, C...

4000 Warner Boulevard

Building 168

Burbank, CA 91522

United States

Founded in 1923

Phone:

818-954-6000

Fax:

212-954-7667

Key Executives for Warner Bros. Entertainment, Inc.

Chairman and Chief Executive Officer
Age: 49
Chief Financial Officer and Executive Vice President
Executive Vice President of Operations and Planning
President of DC Entertainment, President of Warner Bros Interactive Entertainment (WBIE) and Chief Content Officer of Warner Bros Interactive Entertainment (WBIE)
President of Warner Bros Television Group, Chief Content Officer of Warner Bros Television Group, President of Warner Bros Television and President of Warner Horizon Television & Animation
Compensation as of Fiscal Year 2014.

Warner Bros. Entertainment, Inc. Key Developments

Warner Bros. Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Reports Asset Impairments for the Fourth Quarter of 2014

Warner Bros. reported unaudited earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported operating income of $319 million and adjusted operating income of $391 million on revenues of $3,815 million compared to operating income of $573 million and adjusted operating income of $576 million on revenues of $3,996 million reported a year ago. Revenues decreased 5% ($181 million) mainly due to lower home entertainment and videogames revenues. The current year period included the home entertainment releases of Edge of Tomorrow and Tammy. The prior year period included the home entertainment releases of Man of Steel, Pacific Rim and The Hangover Part III and the videogame release of Batman: Arkham Origins. Also contributing to the decline was the negative effect of foreign currency exchange rates. The decline was partially offset by higher television licensing revenues. Adjusted operating income decreased 32% ($185 million) mainly due to the decline in revenues and higher restructuring and severance charges. Excluding the restructuring and severance charges, adjusted operating income would have been $510 million in the fourth quarter of 2014. For the year, the company reported operating income of $1,159 million and adjusted operating income of $1,248 million on revenues of $12,526 million compared to operating income of $1,324 million and adjusted operating income of $1,327 million on revenues of $12,312 million reported a year ago. Revenues increased 2% ($214 million) due to stronger television revenues, primarily due to growth in initial telecast fees, including from the acquisition of Eyeworks Group's operations outside the U.S., and higher international television licensing revenues due to growth in both subscription video-on-demand and linear television revenues. Revenues also benefited from a patent license and settlement agreement. The increase was partially offset by declines in theatrical and physical home video revenues due to the comparison to the strong 2013 theatrical and home entertainment slate as well as the negative effect of foreign currency exchange rates. Adjusted operating income decreased 6% ($79 million) as higher revenues were more than offset by higher television production costs and increased restructuring and severance costs. Excluding the restructuring and severance charges, adjusted operating income would have been $1.4 billion in 2014. For the quarter, the company reported $36 million of asset impairments compared to $2 million reported a year ago.

Singtel, Sony Pictures Television and Warner Bros Entertainment Announce Joint-Venture to Offer Video Service in Asia

Singtel, Sony Pictures Television and Warner Bros Entertainment announced that they have established HOOQ, a joint venture start-up, to offer a video service in Asia. The regional over-the-top (OTT) service will deliver Hollywood blockbusters and television series, as well as popular local movies and programmes by enabling customers to stream and download the shows on their device or platform of choice. HOOQ will be rolled out progressively in the Singtel Group's Asian footprint, including Indonesia, the Philippines, India and Thailand, from the first quarter of 2015. The studios will provide access to their premium content and know-how, while Singtel will provide market access to its customer base and billing capabilities. At launch, HOOQ will have a catalogue of more than 10,000 shows, from blockbusters such as Spider-Man and Harry Potter to TV favourites such as Friends and Gossip Girl. There will also be an extensive selection of Indian, Chinese, Thai, Filipino, Indonesian, Korean and Japanese movies and TV series.

HOOQ Digital Holdings Pte. Ltd. Enters into Conditional Joint Venture Agreement with Warner Bros. Entertainment Inc. and AXN Investment, Inc

Singapore Telecommunications Limited announced that its wholly-owned subsidiary, HOOQ Digital Holdings Pte. Ltd. has entered into a conditional joint venture agreement with Warner Bros. Entertainment Inc. and AXN Investment, Inc. to invest in HOOQ Digital Pte. Ltd. HOOQ will engage in the business of, inter alia, the acquisition, aggregation, production, marketing, distribution and sale of films, television, and related video content, through an over-the-top video service in multiple regional markets. Completion under the JVA is conditional upon, inter alia, the finalisation of certain commercial contracts in relation to the Services. Upon the allotment and issue of shares at completion, the share capital of HOOQ will increase from $2 to $27,600,020, with HDH, WB and AXN holding 65%, 17.5% and 17.5% respectively.

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