Media: Warner writes down value of cable networks.

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  • Source:
    Week. 8/23/2024, Vol. 24 Issue 1197, p32-32. 1/8p.
  • Additional Information
    • Subject Terms:
      BASKETBALL; DIRECT selling; CABLES
    • Abstract:
      BUSINESSWarner Bros. Discovery posted a $9.99 billion loss in the most recent quarter, said Sabela Ojea and Joe Flint in The Wall Street Journal. The lion's share of the loss stemmed from a $9.1 billion noncash impairment charge against the value of its cable networks, such as CNN and TNT. "Warner did deliver growth in its direct- to-consumer unit," the Max streaming platform, "which had 103.3 million subscribers globally." Its cable business took another blow recently from "TNT's inability to strike a new deal with the National Basketball Association." [Extracted from the article]
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