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Warner Bros Discovery to announce new streaming strategy after earnings report
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Warner Bros Discovery Inc is expected to discuss the new streaming strategy for the merged company on Thursday when it reports second-quarter earnings, four sources familiar with the plans told Reuters.
The company is likely to provide additional details about its plans to bring together the HBO Max service's collection of dramas, comedies, movies with the reality programs of Discovery+. The pricing and the name for the new streaming service are still being debated internally, according to two sources familiar with the discussions. The name and the pricing are unlikely to be announced on Thursday.
Warner Bros Discovery also is considering free, ad-supported services that would exist alongside its subscription service, though no announcement is planned. One source said among the ideas being discussed is a service built on Warner Bros' library of classic movies, which currently attract little notice inside HBO Max.
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The plans are the culmination of CEO David Zaslav and his team's examination of WarnerMedia's film, television, digital and gaming businesses since the deal closed on April 8. The executives were seeking to understand how these units work and how best to combine WarnerMedia's operations with those of Discovery, said one executive familiar with the process.
Areas of overlap – such as the unscripted television unit behind such HBO Max reality shows as "FBoy Island" and "The Hype" – are likely to be eliminated, given Discovery's strength in the television genre, said the executive, who spoke on condition of anonymity.