Warner Bros. Discovery posted a first-quarter loss, buffeted not only by the dynamics of streaming video that are eroding traditional media-industry economics, but also by charges related to the 20…
Warner Bros. Discovery posted a first-quarter loss, buffeted not only by the dynamics of streaming video that are eroding traditional media-industry economics, but also by charges related to the 2022 merger that created the company out of the former WarnerMedia and Discovery Inc.
The owner of HBO, TNT and the Discovery Channel said its loss of $1.069 billion included $1.81 billion of “acquisition-related intangible assets and $95 million of pre-tax restructuring expenses.” The company also indicated that the debt it took on to finance the merger was affecting its financials. Warner Bros. Discovery had $836 million of “semi-annual interest payments largely attributable to merger-related debt that overwhelmed its cash flow.
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