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David Zaslav

Olivia Michael | CNBC

Warner Bros. Discovery employees faced another round of layoffs this week, particularly those in the cable-TV network side of the business.

The layoffs affected the company’s vast portfolio of cable-TV networks including the Discovery Channel, Investigation Discovery and the Food Network. The Turner Classic Movie channel also was affected and saw a major leadership shakeup as a result, which prompted concern among cinema fans and people dedicated to film preservation.

Known as TCM, the network is recognized as a place for preservation of classic films and a carefully curated lineup of guest introductions, documentaries and non-English-language movies. Its offerings are among the movies and shows included on Warner Bros. Discovery’s streaming app Max.

The shakeup at the network inspired Warner Bros. Discovery CEO David Zaslav to reach out to top filmmakers — including “Goodfellas” director and film preservation leader Martin Scorsese; Steven Spielberg, the filmmaker behind a trove of Hollywood masterpieces including “Schindler’s List;” and Paul Thomas Anderson, who directed acclaimed hits like “There Will Be Blood” — to reassure them the essence of TCM would not change under new leadership.

“Turner Classic Movies has always been more than just a channel. It is truly a precious resource of cinema, open 24 hours a day seven days a week,” the trio of filmmakers said in a joint statement. “And while it has never been a financial juggernaut, it has always been a profitable endeavor since its inception.”

Scorsese, Spielberg and Anderson added that Zaslav contacted them regarding the restructuring of TCM, adding they each spent time talking with the CEO, individually and as a group, “and it’s clear that TCM and classic cinema are very important to him. Our primary aim is to ensure that TCM’s programming is untouched and protected.”

Director Steven Spielberg.

Gilbert Flores | Variety | Getty Images

In April, Spielberg and Anderson had a discussion about film preservation efforts at the TCM Classic Film Festival. Zaslav joined them on stage, according to media reports.

A representative for Warner Bros. Discovery declined to comment beyond pointing to the filmmakers’ statement.

The merger between Warner Bros. and Discovery in 2022 created the biggest portfolio of cable-TV networks under one roof during a time of substantial cord cutting as many consumers opt for streaming services. The merger also came when major streaming platforms like Netflix began to see their subscribers plateau and turned their focus from growth to profitability.

Warner Bros. Discovery has been grappling with a hefty debt load stemming from the merger, and has been looking for ways to lower its costs. It has undergone a number of layoffs – which will amount to thousands of employees losing their jobs – as well as other measures, such as reducing content spending.

In addition, the company recently rebranded its flagship streaming service as Max, a combination of its Discovery+ and HBO Max content. Content from its cable-TV networks, including TCM, is featured on the service.

“We are heartened and encouraged by the conversations we’ve had thus far, and we are committed to working together to ensure the continuation of this cultural touchstone that we all treasure,” Scorsese, Spielberg and Anderson said in the statement.

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Baidu plans to expand its robotaxis to Europe with Lyft deal

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Baidu plans to expand its robotaxis to Europe with Lyft deal

Cheng Xin | Getty Images

Baidu will bring its driverless taxis to Europe next year via a partnership with U.S. ridehailing firm Lyft, as the Chinese tech giant looks to expand its autonomous vehicles globally.

The robotaxis will initially be deployed in the U.K. and Germany from 2026 with the aim to have “thousands” of vehicles across Europe in the “following years,” the two companies said.

Lyft has had very little presence in Europe until last week when it closed the acquisition of Germany-based ride hailing company FreeNow, which is available in over 150 cities across nine countries, including Ireland, the U.K., Germany and France.

Deployment of the autonomous cars is “pending regulatory approval,” Lyft and Baidu said in a Monday statement. It’s unclear if Lyft will offer Baidu’s robotaxis via the FreeNow app or another product.

The partnership marks a continued push from Baidu to expand its robotaxis to international markets.

Last month, Baidu partnered with Uber to deploy its autonomous cars on the ride-hailing giant’s platform outside the U.S. and mainland China, with a focus on the Middle East and Asia, which will launch later this year. The partnership also covers Europe, though a launch date for the region has not yet been disclosed.

In China, Baidu has been operating its own robotaxi service since 2021 in major cities like Beijing, allowing users to hail an Apollo Go car through the app. Meanwhile, for Lyft, the deal could boost the firm’s presence in the region as it looks to take on rivals like Uber and Bolt.

Autonomous vehicles have become a big focus for ride-hailing companies which have looked to partner with companies that are developing the technology for driverless cars.

In the U.K., a market that Lyft is targeting, Uber this year partnered with self-driving car technology firm Wayve to launch trials of fully autonomous rides starting in spring 2026.

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Tesla awards Musk $29 billion in shares with prior pay package in limbo

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Tesla awards Musk  billion in shares with prior pay package in limbo

Tesla approves 96 million-share award to CEO Elon Musk

Tesla CEO Elon Musk was awarded an interim pay package of 96 million shares of the company over the weekend. The shares would be worth about $29 billion.

Tesla stock climbed about 2% Monday.

The company said in a filing Sunday that the pay package would vest in two years as long as Musk continued as CEO or in another key executive position.

The new award would be forfeited if the legal battle over his 2018 compensation ends with Musk being able to exercise the larger pay package, which was valued at $56 billion.

In January, Chancellor Kathaleen McCormick upheld a prior ruling in the case, Tornetta v. Musk, that the compensation plan was improperly granted. Tesla shareholders approved the pay package in June 2024.

The case is now before the Delaware Supreme Court.

Musk’s 2018 pay package included a set of performance targets for the company, which were all achieved.

The judge called it “the largest potential compensation opportunity ever observed in public markets” in her January decision and said it was 33 times higher than the nearest comparison, which was Musk’s prior compensation package.

Elon Musk: We'll have hundreds of thousands of full self-driving Teslas by the end of next year

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Legal AI startup Harvey hits $100 million in annual recurring revenue

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Legal AI startup Harvey hits 0 million in annual recurring revenue

Harvey co-founders Winston Weinberg and Gabe Pereyra

Courtesy of Harvey

Artificial intelligence startup Harvey on Monday announced it has reached $100 million in annual recurring revenue, or ARR, just three years after its launch. 

Harvey runs an AI-powered legal platform for lawyers at law firms and large corporations. Its technology can help with legal research, drafting and diligence projects, and the company is also building industry-specific use cases. 

Winston Weinberg, co-founder and CEO of Harvey, said the startup’s ARR milestone has largely been driven by usage. Harvey has surpassed 500 customers, including CNBC’s parent company, Comcast, and its weekly average users have quadrupled over the past year, the startup said. 

“Most of our accounts grow pretty massively,” Weinberg told CNBC. “You’ll sell to a Comcast or to a law firm, and they’ll buy a couple hundred seats, and then they expand that usage pretty quickly.” 

Weinberg is a former lawyer, and he co-founded Harvey with his friend and roommate Gabe Pereyra, a former research scientist at Google DeepMind and Meta. The pair launched the company in 2022 after experimenting with OpenAI’s large language model GPT-3, which came out before its viral AI chatbot, ChatGPT. 

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The company’s name, Harvey, is partially inspired by one of the main characters in “Suits,” a legal drama TV series, Weinberg said.

Harvey has raised more than $800 million from investors, according to PitchBook, including Kleiner Perkins, Sequoia Capital and the OpenAI Startup Fund. The company also earned a spot on the 2025 CNBC Disruptor 50 list. 

“With gen AI, and how fast everything’s moving, you just have to learn how to scale really, really fast,” Weinberg said. “I’d say, like every six months I go through a new scaling experience.”

In the months ahead, Weinberg said Harvey is focused on its global expansion and continuing to build out its team. The startup recently hired Siva Gurumurthy, the former director of engineering at Twitter, as its chief technology officer, and John Haddock, who spent a decade at Stripe, as its chief business officer. 

Weinberg said he has learned to appreciate the value of a strong team, especially during periods of rapid growth. 

“We’re starting to get to the point where we have really good leadership in place,” Weinberg said. “That just changes your ability to scale to such a massive degree.”

Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC.

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