Warner Bros. Discovery reports 3% revenue fall in March quarter
Updated
Updated · The Information · May 6
Warner Bros. Discovery reports 3% revenue fall in March quarter
16 articles · Updated · The Information · May 6
A 9% drop in its cable channels business, WBD's largest segment, outweighed 7% streaming revenue growth and higher film studio revenue and profit.
The results underscore pressure on traditional TV as the company navigates a planned sale later this year to Paramount Skydance, backed by the Ellison family.
Earlier reports showed WBD also posted a $2.9bn quarterly net loss, driven largely by a $2.8bn Netflix termination fee and restructuring-related costs.
With a staggering $79 billion in debt, is the WBD-Paramount merger building a media titan or a financial house of cards?
As foreign entities near 50% ownership, will Hollywood's newest giant answer to shareholders or to sovereign states?