The Newhouse family had been the largest shareholders of the media company, and will use the cash for estate planning and other purposes.

The media giant's shares tumbled over 4% during Tuesday's trading session after the Condé Nast owners sold 100 million shares ...

Warner Bros Discovery hits $900M in ticket sales, showcasing a movie business turnaround that could boost streaming prospects ...

Warner Music Group and Bain Capital are launching a joint venture to allow for the purchase of up to $1.2 billion in music ...