The Wall Street Journal: Warner Bros. Discovery warns of as much as $4.3 billion in restructuring charges

October 25, 2022

Warner Bros. Discovery Inc.
WBD,
-2.30%
said it expected to incur as much as $4.3 billion in pretax restructuring charges through 2024, the result of a cost-cutting effort following the combination earlier this year of Discovery Inc. and AT&T Inc.’s
T,
+2.40%
WarnerMedia unit.

The majority of the charges — between $2 billion and $2.5 billion — are tied to restructuring the company’s content operations, including writing down the value of some content and killing off projects that were in development, Warner Bros. Discovery said in a securities filing Monday. The company is expected to report third-quarter earnings Nov. 3.

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