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that nearly 1,000 employees will be laid off across a few sectors in a new cost-cutting move at WBD, including finance, business affairs, production and at streamer Max.”, “The insider says the vast majority of the eliminations were in the finance division, with less than 10 Max staffers affected in total.”, which is in the toilet at less than $9 per share. Another idea floated by the studio involves splitting the streaming business and movie business from its cable TV networks.Warner Bros.
All of these media companies are struggling, and the primary reason is the death of cable/satellite TV . As people move to streaming, they are canceling their CSTV packages by the tens of millions. All that free money is drying up. And there is nowhere near as much money in streaming because, unlike CSTV, there is actual competition for your streaming dollars. CSTV can gouge its customers because you have nowhere else to go. Not true with streaming. Netflix, Disney+, etc., have to attract you and keep you.
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