Turner Broadcasting System has purchased a majority stake in iStreamPlanet, a top provider in live event and OTT video programming.
CEO John Martin said the partnership would expand the Time Warner unit's capacity to offer live events within and outside the broadcaster's traditional ecosystem.
He expects opportunities to use iStreamPlanet's technical savvy to cultivate new digital platforms.
Mio Babic, who founded the Las Vegas-based video operation in 2000, called Turner a "media powerhouse with tremendous reach via their entertainment and live sports programming."
Turner and iStreamPlanet have worked together during the PGA Championship.
Martin said "there is no one better in the business" than his new investment target.
Trump Media & Technology Group today reported a $58.2M net loss on $4.1M in 2023 revenues, a disclosure that drove its stock price down 22.6 percent to $47.96.
Barry Pollack, an attorney at Wall Street’s Harris St. Laurent & Wechsler, has registered Julian Assange as a client with the Justice Dept. “out of an abundance of caution.”
Paramount Global to slash 800 jobs in what chief executive Bob Bakish calls part of an effort to “return the company to earnings growth"... Rolling Stone editor-in-chief Noah Shachtman is exiting at the end of the month due to disagreements with chief executive Gus Wenner over the direction the magazine is taking... The New York Times broke the $1 billion barrier in annual revenue from digital subscriptions in 2023... Press Forward is investing more than $500 million to strengthen local newsrooms.
The majority of news articles are read within the first three days of publication, according to a recent report.
The Los Angeles Times gives pink slips to 115 people or 20 percent of its newsroom staff... TIME is also laying off about 30 employees, which is approximately 15 percent of its editorial staff... The Baltimore Banner, which was launched by Stewart Bainum in 2022 after he failed to buy the Baltimore Sun, added 500 subscribers per day in the three days following Sinclair Broadcast Group's deal to purchase the Sun.
Have a comment? Send it to 
No comments have been submitted for this story yet.