Fiction
Sky Studios CEO Gary Davey to step down by next summer
MUMBAI: Sky Studios, the production arm of Comcast-owned European pay TV giant Sky, has confirmed that its chief executive officer Gary Davey would step down next year.
In the meantime, he will continue to lead the team until a new CEO is appointed and leave the company next summer.
"I wanted to let you know that I have decided to step down as CEO of Sky Studios in 2021. When we launched Sky Studios last June, I could not have dreamed where we would be right now. And I don’t just mean Covid2019. In 18 short months, we have created a strong, creative organisation that has broken the mould of how studio businesses work in Europe,” said Gary Davey.
He added: "We have produced ambitious, original series that are loved by our customers and viewers around the world. The fact that nine of the top 10 shows viewed on Sky in the UK this year are Sky Originals, speaks for itself. At the same time, this year we have delivered 29 series to 15 US networks and platforms."
Davey further mentioned, "not every show has been a ratings hit, but looking back, I have no regrets for any of our green-lights."
In his note, he also revealed that "next year Sky Studios will become profitable," noting that "the year after we will open the doors to Sky Studios Elstree, a huge, long-term investment in Sky’s original content ambition, enabling us to truly fulfil our potential as we look to more than double our investment by 2024."
Sky group CEO Jeremy Darroch in an internal note praised Davey for his distinguished career. Said he: "He has uniquely worked across all of our markets, having led the successful launch of Sky Italia’s terrestrial TV network, cielo, in 2009 before joining Sky Deutschland as executive VP, programming in 2011. Gary returned to Sky UK in 2015 as managing director of content, transforming our push into bold, original programming, and in 2019 took on a new challenge as CEO of Sky Studios."
Fiction
Warner Bros Discovery sees Sachem Head double stake in Q4 filing
Activist fund ups bet as Paramount circles and Netflix deal looms
NEW YORK: Warner Bros Discovery has drawn fresh activist attention, with hedge fund Sachem Head Capital Management more than doubling its stake in the media giant during the fourth quarter, according to a regulatory filing.
The fund, one of 2025’s best performers, said it held nearly 8 million shares in Warner Bros Discovery by the end of December. The position ranks among its ten largest US equity bets, underlining growing investor interest in the company as takeover drama gathers pace.
The move comes at a pivotal moment for the studio and streaming group. Warner Bros Discovery has agreed to sell its streaming and studios business to Netflix, a deal that has stirred interest across the industry and sparked a rival approach from Paramount Skydance.
Paramount has already made a hostile bid that was rejected last month, but it is far from backing down. This week, the company stepped up pressure on Warner Bros Discovery, urging the board to at least consider whether its offer could be made more attractive than Netflix’s proposal.
Paramount has also hinted at a possible boardroom battle, suggesting it could attempt to replace directors. It even floated the idea of bringing in the head of Pentwater Capital Management, one of Warner Bros Discovery’s largest investors, as a potential board candidate.
With a market value of about 70 billion dollars, Warner Bros Discovery now sits at the centre of a high stakes contest between strategic buyers and activist investors. Sachem Head’s increased holding signals that the hedge fund sees opportunity in the turbulence.
The filing also revealed new bets by Sachem Head elsewhere. The fund bought 5.2 million shares in telecoms company EchoStar, and opened fresh positions in used car retailer Carvana and entertainment group Live Nation.
Such filings offer a snapshot of hedge fund portfolios at the end of the previous quarter. While they are backward looking, investors still track them closely for clues on which stocks are gaining favour or becoming targets for change.
