Warner Bros. Discovery will take a hit of between $1.3 billion and $1.6 billon in pre-tax restructuring charges for the third quarter ended in September as part of the ongoing merge of its operations, including content write-downs and terminations
will take a hit of between $1.3 billion and $1.6 billon in pre-tax restructuring charges for the third quarter ended in September as part of the ongoing merge of its operations, primary from content write-downs.
It said in an SEC filing it plans to complete its restructuring initiatives by the end of 2024 with total charges coming in between $3.2 and $4.3 billion. That includes “strategic content programming assessments” leading to content and development write-offs of approximately $2 to $2.5 billion. The charges, which also include organization restructuring, facility consolidation activities and other contract termination costs, is part of the merged company’s plan to achieve significant $3 billion cost synergies it promised Wall Street.'Unbelievable Me': Warner Bros. Discovery Behind Human Adversity TV Series - Mipcom CannesLayoffs have been rolling out across divisions. Warner Bros Television is cutting more than a quarter of its workforce amid changes in unscripted and animation.
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