Get the latest gossip

Warner Bros Discovery Reports Nearly $10 Billion Loss as TV Assets Value Plummets

Warner Bros Discovery’s shares dropped 12% in premarket trading after announcing a $9.1 billion write-down and a $10 billion net loss, reflecting their ongoing struggles to keep up with other giant media.

(Photo : Kevin Dietsch/Getty Images) Shares of Warner Bros Discovery (WBD.O) tumbled 12% in premarket trading on Thursday following the company's announcement of a staggering $9.1 billion write-down on its television assets, Reuters reported. The write-down has cast a spotlight on the ongoing challenges facing the company's traditional broadcasting sector, overshadowing positive news in its streaming division. In its second-quarter earnings report, Warner Bros Discovery revealed a massive net loss of $10 billion, largely attributed to the asset write-down.

Get the Android app