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Warner Bros. Discovery Sees Max Hit 116.9 Million Subscribers As Streaming Posts Profit, Cable Network Ad Revenue Falls 17%
Warner Bros. Discovery linear networks continued to lose ground amid ongoing challenges, weighing on the fourth quarter along with more one-time charges.
Net Some $1.9 billion charges including restructuring expense hit the bottom line as the company swung saw a $640 million loss for the last three months of 2024. Media companies are transitioning to linear and WBD may be speeding up the process in a corporate restructuring to take effect later this year that many believe will ultimately lead to splitting off its cable networks, much like Comcast is planning to do. Studio revenue rose 16% to $3.7 billion driven by TV, which jumped 64% on internal licensing agreements and higher initial telecast deliveries, which were impacted by the WGA and SAG-AFTRA strikes in the prior year.
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