#Warner Bros. Discovery to Take Additional $800M In Content and Development Writeoffs

Table of Contents
Warner Bros. Discovery to Take Additional $800M In Content and Development Writeoffs
Warner Bros. Discovery is taking a bigger writeoff on content and development than it initially anticipated.
In a securities filing Wednesday, WBD said that it now expects to take writeoffs and impairments related to content and development costs of $2.8 billion-$3.5 billion, up from $2 billion-$2.5 billion as initially projected in October. WBD now says its total restructuring and impairment charges related to the WarnerMedia-Discovery merger will be between $4.1 billion-$5.3 billion, reflecting the higher content writeoffs.
The filing did not detail specifically what the increased impairments were tied to, however in recent weeks the company has canceled or pulled from its services several titles, including Love Life, Minx, Westworld and The Nevers, while in-development projects like Patty Jenkins’ Wonder Woman 3 were axed as James Gunn and Peter Safran develop a new DC movie universe.
The company says that its restructuring cost estimates are not changing at this time, though as it said in October, those numbers could be adjusted as the company digs into the details.
More to come.
If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.
For forums sites go to Forum.BuradaBiliyorum.Com
If you want to read more Like this articles, you can visit our Social Media category.