Fatafeat unites with The Giving Family for a Ramadan of compassion and giving

Warner Bros. Discovery's leading Arabic food network, Fatafeat, recently participated in a significant CSR activity in collaboration with The Giving Family. This initiative aimed to distribute 7500 meals to labour camps in Al Quoz, Dubai, providing essential support to the community during the holy month of Ramadan.Chef Sumaya, renowned for her role in Fatafeat's popular show "Kitchen Tales: Ramadan Edition," and the Fatafeat team, also joined in distributing meals to the labor camps in Al Quoz. Alongside The Giving Family and approximately 100 volunteers, Chef Sumaya contributed to the success of this impactful initiative.The Giving Family is a renowned volunteer organisation that focuses on giving back to the community and supporting those in need. Founded in March 2022 by Fadie Musallet, Sabrina Rabhi, and Zehra Rizvi, The Giving Family has made significant strides in making a positive difference in people's lives in the U.A.E.Grigory Lavrov, VP, Marketing, Local Brands & Franchise Management, CEE & MENAT at Warner Bros. Discovery stating, "Social good is an important priority for us at Fatafeat, and we aim to be at the forefront of raising awareness upon social issues our world faces. We’re honoured to partner with The Giving Family as it allows us not only to help our community in need, but also to raise awareness for the great work they are doing. We hope to inspire Fatafeat’s viewers to do something extra for a better tomorrow as well, as everyone can make a difference in the world."Sumaya Obaid, Kitchen Tales Chef at Fatafeat said: "It is important to me to support individuals and families in need and therefore I was honored to join The Giving Family for a day on behalf of Fatafeat. The Giving Family-team and all the volunteers on the ground showed me that this initiative really helps to create a brighter future for our community, and it felt heartwarming."The Giving Family has already provided meals to over 150,000 labourers, reflecting the essence of compassion and support during this Ramadan.

Warner Bros. Discovery loses 0.7 million streaming subscribers in Q3

Warner Bros. Discovery, Inc. has reported financial results for the quarter ended September 30, 2023. Global streaming subscribers decreased 0.7 million to 95.1 million at the end of Q3 vs. 95.8 million subscribers at the end of Q2. However, global DTC ARPU was $7.82, a 6% increase vs. the prior year quarter. Barbie was the highest grossing film in Warner Bros. history, generating nearly $1.5 billion in global box office. The Nun II was the sixth film in The Conjuring Universe to cross $250 million in global box office. As a franchise, The Conjuring Universe has grossed nearly $2.3 billion globally, the most of any horror franchise. The company successfully launched news streaming service, CNN Max, in the US, on September 27, ahead of the October 5 launch of the Bleacher Report Sports Add-On tier. Total revenues were $9,979 million, an increase of 1% compared to the prior year quarter. David Zaslav, President and Chief Executive Officer of Warner Bros. Discovery, said: “I am very pleased with the strong financial results that our company delivered in Q3, underscored by 22% growth in Adjusted EBITDA and over $2 billion in free cash flow, putting us on track to meaningfully exceed $5 billion for the year and contributing to our nearly $12 billion in debt paydown to date. Among the highlights, our Direct-to-Consumer business had another profitable quarter with $111 million of Adjusted EBITDA and launched its new live-programming offerings with CNN Max and the Bleacher Report Add-On, which are showing early signs of contributing to increased engagement and lower churn on Max. We’ve made great strides in just 19 months and are excited to continue building on this strong momentum, as we focus on driving future growth and creating long-term value for our shareholders.” Other highlights: Net loss available to Warner Bros. Discovery, Inc. was $(417) million, and included $1,758 million of pre-tax amortization driven by acquisition-related intangibles and $269 million of pre-tax restructuring expenses. Q3 total Adjusted EBITDA was $2,969 million. Adjusted EBITDA increased 22% ex-FX compared to the prior year quarter. Cash provided by operating activities increased to $2,516 million. Reported free cash flow increased to $2,059 million. Repaid $2.4 billion of debt during Q3. Ended the quarter with $2.4 billion of cash on hand, $45.3 billion of gross debt, and 4.2x net leverage.