Warner Bros. Discovery to Take up to $4.3 Billion in Post-Merger Restructuring Charges, Including up to $2.5 Billion in Content Write-Offs

Warner Bros. Discovery, trying to get its balance sheet in order, said it will incur between $3.2 billion and $4.3 billion in pre-tax restructuring charges related to Discovery’s acquisition of WarnerMedia. The media company disclosed expected ranges for the charges in an SEC filing Monday. For the third quarter of 2022, WBD estimates it will incur $1.3 billion to $1.6 billion of restructuring charges. “As part of its plan to achieve significant cost synergies, in Q3 2022, the company finalized the framework supporting its ongoing restructuring and transformation initiatives which will include, among other things, strategic content programming assessments, organization… Read Full Article