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Warner Bros. Discovery Sees Q4 Loss On $1.9 Billion in Charges, Adds 6.4 Million Streaming Subscribers
Warner Bros. Discovery posted a fourth quarter loss after seeing $1.9 billion in charges even as it added 6.4 million streaming subscribers
Discovery posted a fourth-quarter loss as the company grappled with $1.9 billion in charges and restructuring expenses, even as the company added 4.6 million subscribers to its streaming outlets. Like its rivals., Warner is navigating a difficult era for the media sector, one in which linear TV audiences, much easier to monetize, are leaving for new streaming video options. “In fact, the U.S. linear television advertising market has deteriorated faster than we expected, as evidenced by our results over the last several quarters,” the company said in a note to shareholders Thursday.
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