Stock Market News

Warner Bros Discovery expects $1 billion more in scrapped content charges

2022.12.14 19:46



© Reuters. The Warner Bros logo is seen during the Cannes Lions International Festival of Creativity in Cannes, France, June 22, 2022. REUTERS/Eric Gaillard/File Photo

(Reuters) – Warner Bros Discovery (NASDAQ:) Inc on Wednesday raised its expectations of costs related to content write-offs by $1 billion and said the charges could now reach up to $3.5 billion.

For the media company, formed earlier this year by the merger of AT&T Inc (NYSE:)’s WarnerMedia unit and Discovery Inc, the total financial restructuring cost could now be between $4.1 billion and $5.3 billion.

Warner Bros has undertaken a series of cost-cutting measures since the merger, including canceling projects such as the live-action version of the DC Comics character “Batgirl”, a planned “Wonder Twins” film, and shutting down the CNN+ streaming news service.

Some reports said the shows “Nevers” and “Westworld” would be pulled from HBO Max.

The company has said the restructuring initiatives will be substantially completed by the end of 2024.



Source link

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,107.29 0.20%
ethereum
Ethereum (ETH) $ 3,372.33 1.69%
tether
Tether (USDT) $ 1.00 0.12%
solana
Solana (SOL) $ 252.96 2.27%
bnb
BNB (BNB) $ 660.45 0.12%
xrp
XRP (XRP) $ 1.40 5.01%
dogecoin
Dogecoin (DOGE) $ 0.423772 4.10%
usd-coin
USDC (USDC) $ 1.00 0.11%
cardano
Cardano (ADA) $ 1.02 6.32%
staked-ether
Lido Staked Ether (STETH) $ 3,369.71 1.79%
tron
TRON (TRX) $ 0.208936 3.05%
avalanche-2
Avalanche (AVAX) $ 41.36 2.64%
the-open-network
Toncoin (TON) $ 6.09 5.20%
stellar
Stellar (XLM) $ 0.516832 14.84%
shiba-inu
Shiba Inu (SHIB) $ 0.000026 5.89%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,991.59 1.69%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,748.19 0.30%
polkadot
Polkadot (DOT) $ 8.70 7.59%
chainlink
Chainlink (LINK) $ 17.80 1.43%
bitcoin-cash
Bitcoin Cash (BCH) $ 511.25 1.85%
weth
WETH (WETH) $ 3,373.59 1.65%
sui
Sui (SUI) $ 3.37 4.70%
near
NEAR Protocol (NEAR) $ 6.97 7.61%
pepe
Pepe (PEPE) $ 0.00002 4.02%
leo-token
LEO Token (LEO) $ 8.61 0.50%
litecoin
Litecoin (LTC) $ 96.65 5.32%
aptos
Aptos (APT) $ 12.27 7.57%
uniswap
Uniswap (UNI) $ 10.90 0.85%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,549.92 1.79%
internet-computer
Internet Computer (ICP) $ 11.33 5.46%
hedera-hashgraph
Hedera (HBAR) $ 0.140576 8.44%
usds
USDS (USDS) $ 1.00 0.12%
crypto-com-chain
Cronos (CRO) $ 0.185676 6.34%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.558734 5.82%
ethereum-classic
Ethereum Classic (ETC) $ 28.50 6.21%
render-token
Render (RENDER) $ 8.04 0.36%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.51 3.05%
bittensor
Bittensor (TAO) $ 528.78 2.34%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.10%
kaspa
Kaspa (KAS) $ 0.151623 2.33%
whitebit
WhiteBIT Coin (WBT) $ 24.47 1.16%
blockstack
Stacks (STX) $ 2.34 9.74%
bonk
Bonk (BONK) $ 0.000046 5.19%
dai
Dai (DAI) $ 1.00 0.12%
arbitrum
Arbitrum (ARB) $ 0.850482 5.21%
vechain
VeChain (VET) $ 0.042605 2.01%
filecoin
Filecoin (FIL) $ 5.61 6.98%
cosmos
Cosmos Hub (ATOM) $ 8.50 9.50%
okb
OKB (OKB) $ 54.94 6.32%
mantra-dao
MANTRA (OM) $ 3.65 2.49%