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Comcast reveals interest in Warner Bros. studios and streamer

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Comcast reveals interest in Warner Bros. studios and streamer

NBCUniversal owner Comcast is indeed interested in some of Warner Bros. Discovery’s assets.

On a Thursday call with analysts to discuss third-quarter earnings, Comcast President Mike Cavanagh suggested the Philadelphia giant might bid for certain Warner assets, primarily the Warner Bros. film and television studios and its streaming service HBO Max.

Sources had previously said Comcast was angling to join the Warner Bros. Discovery auction after that company’s board formally opened the process last week. The Warner board has unanimously rejected three unsolicited bids from David Ellison’s Paramount, which has offered $58 billion in cash and stock for all of Warner Bros. Discovery.

“This could be Comcast’s last shot at transforming NBCUniversal into a long-term structural winner in media,” LightShed Partners analyst Richard Greenfield wrote in a note to investors. “If Paramount or another buyer acquires Warner Bros., there would be no obvious merger partner for NBCU.”

Comcast isn’t looking to acquire the entire company or Warner’s large portfolio of cable channels that include CNN, TBS and Food Network. Instead, Cavanagh suggested that Comcast’s interest would be more narrow.

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He noted that NBCUniversal and Warner Bros. have compatible businesses. Comcast wants to grow its studios and its struggling streaming service, Peacock, which lost $217 million.

“You should expect us to look at things that are trading in our space … It’s our job to try to figure out if there are ways to add value,” Cavanagh told analysts.

But he added a note of caution, saying the company didn’t feel that a merger was “necessary.”

“The bar is very high for us to pursue any [merger] transactions,” he said.

Longtime cable analyst Craig Moffett interpreted Cavanagh’s oblique remarks as downplaying a potential bid by Comcast for its competitor. Moffett noted Comcast’s stock performance has long been restrained because of chairman and controlling shareholder Brian Roberts’ penchant for deal-making.

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“The markets haven’t liked those deals,” Moffett wrote in a Thursday note to investors.

A decade ago, Comcast abandoned a $45-billion deal to buy Time Warner Cable amid opposition from federal regulators. Its retreat allowed Charter Communications to instead acquire the cable company. And in 2018, Comcast leaped into a bidding war with Walt Disney Co. over much of Rupert Murdoch’s Fox.

Comcast ultimately claimed the European satellite TV service Sky from Murdoch at an inflated sum of $39 billion.

A NBCUniversal-Warner Bros. Discovery union makes sense, Moffett wrote, adding it could be “a match, at least on paper, made in heaven.”

“Combining HBO Max (or whatever it’s called now) and Peacock would help both [services], saving costs and adding needed scale,” Moffett wrote. Warner Bros. has strong franchises, including Superman, Batman and Harry Potter, which “could be invaluable for Universal’s theme parks.”

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The Warner auction comes amid deep turmoil in the industry. Traditional entertainment companies, including Warner and NBCUniversal, have long relied heavily on cable programming fees to boost profit, but consumers have been scaling back on pay-TV subscriptions amid the move to streaming.

To address that challenge, Comcast is spinning off its cable channels, including CNBC, MSNBC, USA and Golf Channel, into a separately traded company called Versant. That process is expected to be complete this year.

As part of the transition, the liberal-leaning MSNBC is changing its name to MS Now and dropping the peacock from its network logo, reflecting its pending exit from NBC, which will remain part of Comcast.

Cavanagh suggested that Comcast would not double down in a declining cable channel business that it was already exiting.

But Warner has other compelling properties, including HBO and its Warner Bros. film and television studio. The Warner Bros. studio has released a string of movie blockbusters this year, including “Superman,” “Sinners” and “A Minecraft Movie.” And there is also the legendary movie studio lot in Burbank, where NBC shows such as “Friends” were shot, which is next to the NBCUniversal lot, Universal Studios and its CityWalk plaza.

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Warner and NBCUniversal are investing in their respective streaming services, but both lag Netflix, YouTube and Walt Disney Co. in terms of subscribers and engagement. Peacock has 41 million subscribers; the service has lost billions of dollars since Comcast launched it five years ago.

To shore up Peacock and the NBC broadcast network, Comcast has invested heavily on sports, including striking a $27-billion, 10-year deal for NBA basketball, a contract that kicked in this month with the new season. (Nielsen ratings for the inaugural NBA game on NBC last week were strong — nearly 5 million viewers.)

Most analysts believe that Ellison’s Paramount is in the best position to win Warner Bros. Discovery.

They point to the Ellison family’s determination, wealth and political connections. Tech titan Larry Ellison, who is backing his son’s bid, is the second-richest man in the world behind Elon Musk, and President Trump views the elder Ellison as a good friend.

In contrast, Trump has displayed a dim view of Comcast Chairman and Chief Executive Brian Roberts, in large part, because of Comcast’s ownership of MSNBC, which Trump has accused of being an arm of the Democratic National Committee.

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The tension has led observers to conclude that Comcast would face a stormy regulatory review process with Trump overseeing the Department of Justice, which would likely perform an anti-trust review.

Comcast has contributed to President Trump’s White House ballroom project.

(Andrew Harnik/Getty Images)

Comcast was among the corporate sponsors that donated to the Trump ballroom project, which will replace the now-demolished East Wing. A Comcast spokeswoman declined to say how much Comcast has contributed.

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Concerns about Comcast’s ability to get deals through the Trump administration may be overblown, Cavanagh said.

“I think more things are viable than maybe some of the public commentary [suggests],” Cavanagh said.

Comcast reported third-quarter profit of $3.33 billion, up 8% from a year ago. Revenue declined 3% to $31.2 billion during the period as the company reported continued
losses in broadband customers.

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McCarthy says Trump will use ‘everything he can’ to force Senate action on SAVE America Act

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McCarthy says Trump will use ‘everything he can’ to force Senate action on SAVE America Act

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As infighting over the SAVE America Act throws congressional Republicans into disarray, President Donald Trump’s bid to get the stalled election bill across the finish line gained one notable ally.

Former House Speaker Kevin McCarthy, R-Calif., told Fox News Digital that he supports the election integrity measure and indicated that Trump should continue to use every available tool to pressure the Senate to pass it.

“He’s going to try everything he can to make sure he passes that through,” McCarthy said in a brief interview outside the U.S. Capitol. 

The ex-speaker’s comments came after Trump abruptly called off a signing ceremony Wednesday for a bipartisan housing bill to pressure the Republican-controlled Senate to act on the SAVE America Act.

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President Donald Trump boards Air Force One as he departs Reading Regional Airport in Reading, Pa., on June 23, 2026. (Evelyn Hockstein/Reuters)

IRATE REPUBLICANS ACCUSE TRUMP OF HANDING DEMOCRATS A WIN AFTER BLOWING UP HOUSING PACKAGE

The move surprised Republican lawmakers, some of whom were praising the bill’s passage at a press conference when Trump’s Truth Social post broke.

But Trump has repeatedly cast the election measure — requiring proof of citizenship to vote in federal elections and voter identification requirements — as his top legislative priority.

The legislation’s momentum, however, has slowed in the upper chamber, where Republican leadership insists the votes aren’t there amid widespread Democratic opposition. Senate Republicans have also been unwilling to eliminate the legislative filibuster, which requires a 60-vote threshold to pass the legislation.

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Former Speaker of the House Kevin McCarthy speaks during a ceremony honoring President Ronald Reagan on the 115th anniversary of his birthday at the Ronald Reagan Presidential Library in Simi Valley, Calif., on Feb. 6, 2026. (Hans Gutknecht/MediaNews Group)

TRUMP CALLS MAIL IN VOTING CORRUPT AS SENATE BEGINS DEBATE ON SAVE ACT REQUIRING VOTER ID

Amid the SAVE standoff, a group of conservative lawmakers effectively shut down the House floor in an effort to force Senate action on the election bill. 

But the Senate recessed Wednesday for two weeks over the July 4 holiday, leaving the measure in limbo until lawmakers return.

The conservative-led blockade sparked fierce backlash, with several members inside the GOP conference telling Fox News Digital the move risked torpedoing their own legislative agenda.

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Meanwhile, the House has also yet to pass a version of the legislation incorporating several of the president’s priorities, including a mail-in voting crackdown and provisions banning men from competing in women’s sports and child sex change procedures. 

Trump has not indicated whether he will sign the 21st Century ROAD to Housing Act, despite the likely existence of a veto-proof majority.

House Speaker Mike Johnson, R-La., told reporters Thursday that the housing bill had been transmitted to the White House for Trump’s signature following a meeting with the president.

Speaker of the House Mike Johnson, R-La., talks with reporters in the U.S. Capitol on June 10, 2026. (Tom Williams/CQ-Roll Call, Inc via Getty Images)

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Trump now has 10 days to sign the package or veto it. If he does nothing, the legislation automatically becomes law at the end of the 10-day period.

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Trump budget request omits funds for L.A. fire relief, prompting criticism from senators

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Trump budget request omits funds for L.A. fire relief, prompting criticism from senators

California’s two Democratic senators on Thursday criticized the Trump administration after it requested $87.6 billion from Congress to address some of the nation’s most “urgent needs” but omitted funding for victims of last year’s Los Angeles wildfires.

“Donald Trump’s desire to punish Los Angeles and the state of California for not voting for him, means once again that thousands of Angelinos are left watching this administration fight for anything but them, their businesses, and their communities,” Sens. Alex Padilla and Adam Schiff said in a joint statement.

“These fires did not discriminate based on party or political preference. Neither should this administration,” they added.

The omission is the latest strain in a yearlong standoff between California leaders and the Trump administration over federal disaster aid, and it comes after Los Angeles Mayor Karen Bass and Los Angeles County Supervisor Kathryn Barger met with President Trump at the Oval Office in April to request the funding.

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At the meeting, Trump signaled his commitment to working with local officials to help with disaster recovery efforts. The officials asked for $16 billion that would be split between the city and county. The money would consist primarily of disbursements from the Federal Emergency Management Agency flagged for communities hit by the fires, part of a $33.9-billion wildfire relief funding request made by Gov. Gavin Newsom.

Two months later, those talks have yet to yield results sought by local leaders.

The budget request, submitted by the Office of Management and Budget on Wednesday, mostly seeks funding for the Pentagon to address costs related to the Iran war. It also includes $11.1 billion in economic assistance for American farmers, $1.4 billion to address the Ebola virus outbreak in Central Africa, $500 million to support “ongoing efforts to complete restorations and construction projects” across the nation’s capital and $1 billion to boost the pensions of workers at General Motors that were cut as a result of the automaker’s bankruptcy.

“I urge the Congress to take action on these important and urgent requests as soon as possible,” White House budget director Russell Vought wrote in a letter addressed to House Speaker Mike Johnson (R-La.).

Vought said the administration was open to discussing “additional relief for other urgent matters.” The White House did not immediately respond when asked why the budget request did not mention the Eaton and Palisades disaster relief funds.

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State leaders, including Newsom, have repeatedly accused the Trump administration of stonewalling billions in wildfire aid. The governor visited Washington in December to meet with lawmakers, including three who serve on the Senate and House appropriations committees, to push for the funding.

The governor also attempted to meet with FEMA about the matter, but said his request was denied. Newsom, a political foe of Trump’s, would not say whether he had attempted to meet with Trump to talk about the recovery efforts.

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Trump administration pledges $150M in aid, deploys Navy warships after deadly Venezuela earthquakes

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Trump administration pledges 0M in aid, deploys Navy warships after deadly Venezuela earthquakes

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Following a catastrophic set of earthquakes that left at least 235 people dead in Venezuela, the Trump administration has activated a government-wide humanitarian response, pledging $150 million in aid and deploying U.S. Navy warships to assist in life-saving rescue operations.

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The rapid mobilization Thursday comes after back-to-back magnitude 7.2 and 7.5 earthquakes rocked northern Venezuela roughly 120 miles west of Caracas Wednesday night. 

The rare earthquake “doublet” injured more than 940 people and turned the state of La Guaira into a disaster zone, while forcing the closure of the damaged Simón Bolívar International Airport, according to Venezuela’s Health Ministry.

US RESCUE TEAMS TO DESCEND ON HARD-HIT CARIBBEAN AFTER CATASTROPHIC HURRICANE MELISSA’S IMPACT

Rescuers search for victims in a collapsed building following an earthquake in Caracas on June 24, 2026. (Manaure Quintero / AFP via Getty Images)

The U.S. Department of State announced on Thursday it is mobilizing $150 million in aid, which includes $50 million in new bilateral awards for relief partners on the ground — such as Samaritan’s Purse, Catholic Relief Services and World Vision — along with a $100 million contribution to a United Nations humanitarian pooled fund.

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To spearhead efforts on the ground, the State Department has deployed a regional Disaster Assistance Response Team alongside two highly specialized urban search-and-rescue teams from fire departments in Fairfax County, Virginia, and Los Angeles County, California. 

U.S. WARSHIPS TO PATROL INTERNATIONAL WATERS AROUND VENEZUELA AS TRUMP VOWS TO STOP CARTELS

Members of the County of Los Angeles Fire Department’s international urban search and rescue team (USA-2) prepare to leave for Venezuela, in Pacoima, Calif., Thursday. (Blake Fagan/AFP via Getty Images)

U.S. Southern Command (SOUTHCOM) said it is surging assigned U.S. military forces to the region, directing the USS Fort Lauderdale and the USS Billings to Venezuela to back the State Department-led operations.

The USS Fort Lauderdale will serve as a “floating command center” with a flight deck to support heavy-lift helicopters and a well deck to launch landing craft, according to SOUTHCOM.

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Meanwhile, the agile USS Billings will provide critical support close to the shorelines to accelerate the disaster response missions.

U.S. SOUTHCOM said it has directed USS Fort Lauderdale (LPD 28) and USS Billings (LCS 15) to Venezuela to support State Department-led U.S. government relief operations in Venezuela. (@Southcom/X)

SOUTHCOM said it is also sending rotary-wing aircraft, which will provide critical life-saving airlift support, transporting U.S. government response personnel, search and rescue teams and partners during relief operations.

Amid the crisis, the State Department emphasized that the safety of U.S. citizens remains the administration’s highest priority.

“The Trump Administration has no higher priority than the safety and security of Americans. The Department of State is working tirelessly to provide consular assistance to U.S. citizens and their families in the affected areas,” officials wrote in a statement. “The United States remains steadfast in its commitment to helping Venezuela recover from this devastating disaster and will continue to explore additional ways to provide meaningful assistance during this critical time.”

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U.S. citizens in Venezuela are urged to enroll in the Smart Traveler Enrollment Program (STEP) and can contact the State Department 24/7 at 202-501-4444 for emergency assistance.

Family members in the U.S. seeking information on loved ones can call toll-free at 888-407-4747.

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