Get the latest gossip
Warner Bros. Discovery Stock Crumples to All-Time Lows After Huge Q2 Impairment Charge
Warner Bros. Discovery shares dropped near all-time lows after it announced a $11.2 billion charge, including $9.1 billion write-down on its TV networks.
“In light of industry headwinds, we have and will continue taking bold steps, like reimagining our existing linear partnerships and pursuing new bundling opportunities, with the goal to get Max on the devices of more consumers faster and at a fraction of the acquisition cost,” Zaslav said in prepared remarks about the Q2 earnings. There could be an M&A event on WBD’s horizon — similar to the deal Skydance Media negotiated that would see it merge with Paramount Global (which also operates a business weighted toward TV). At Allen & Co.’s retreat last month in Sun Valley, Idaho, Zaslav said he was in favor of whichever presidential candidate could cut through government red tape and ease the way for M&A.
Or read this on Variety