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Snap +2.7% on Time Warner show development deal

Published 06/19/2017, 11:42 AM
© Reuters.  Snap +2.7% on Time Warner show development deal
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  • Time Warner (TWX +0.7%) has set a broad deal with Snap Inc . (NYSE:SNAP) to build up to 10 original shows a year, which might include development by premium network HBO.
  • Snap is up 2.7% now to reach its highest point since last Wednesday, before a late-week decline.
  • The agreement covers show investment as well as an ad commitment from HBO, Warner Bros. and the Turner networks.
  • It's one of the biggest deals Snap has inked to date. The shows will come in such genres including scripted drama and comedy.
  • As with its other recent development deals, Snap keeps 50% of ad revenue from the shows.
  • It's the latest in a stream of deals from social-media networks and apps to build original content. Facebook (FB +1.2%) is working a plan to build shows with Vox Media, BuzzFeed, and others; it's resurrecting a canceled MTV show as part of that effort.
  • Now read: Snap Is Dead On Arrival


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