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>Warner Bros. Discovery performed what it called “strategic content programming assessments” to come up with the $2 billion-plus in write-offs of TV series and movies. And there could be more in Q4.
>“While the Company’s restructuring efforts are ongoing, including the strategic analysis of content programming which could result in additional impairments above the estimate provided above, the restructuring initiatives are expected to be substantially completed by the end of 2024”
>The moves are part of Warner Bros. Discovery’s plan to achieve cost synergies and trim up to $3 billion in debt in its first two years following Discovery’s merger with WarnerMedia.
>Warner Bros. Discovery has also been cutting costs by cutting staff. The company laid off 125 from its TV group earlier this month, roughly 100 employees in its ad-sales group last month, and another 70 from its HBO and HBO Max staff back in August.
>David Zaslav & co. will report Q3 earnings next Thursday on Nov. 3.
Source: https://www.indiewire.com/2022/10/warner-bros-discovery-content-write-off-batgirl-q3-earnings-1234775731/
>“While the Company’s restructuring efforts are ongoing, including the strategic analysis of content programming which could result in additional impairments above the estimate provided above, the restructuring initiatives are expected to be substantially completed by the end of 2024”
>The moves are part of Warner Bros. Discovery’s plan to achieve cost synergies and trim up to $3 billion in debt in its first two years following Discovery’s merger with WarnerMedia.
>Warner Bros. Discovery has also been cutting costs by cutting staff. The company laid off 125 from its TV group earlier this month, roughly 100 employees in its ad-sales group last month, and another 70 from its HBO and HBO Max staff back in August.
>David Zaslav & co. will report Q3 earnings next Thursday on Nov. 3.
Source: https://www.indiewire.com/2022/10/warner-bros-discovery-content-write-off-batgirl-q3-earnings-1234775731/
