Warner Bros. Discovery took a $9.1B write-down on traditional TV networks' value, causing a $10B Q2 loss.

Warner Bros. Discovery (WBD) took a $9.1B write-down on its traditional TV networks' value, including CNN and TNT, due to market valuation changes and the shifting viewership from cable to streaming. This impacts their financial performance, with a $10B loss in Q2, compared to $1.2B in the same period last year. The company has been affected by declining viewership and advertising dollars.

August 08, 2024
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