Warner Bros Discovery slides as $9 billion write-down highlights TV woes

Quick Summary:

Shares of Warner Bros Discovery plunged 12 per cent in premarket trading on Thursday after a $9.1 billion write-down of the media giant's TV assets sparked fresh concerns about its traditional broadcasting business.

A disappointing set of results with numerous challenges to overcome.

The stock, which has shed more than 32 per cent of its value so far this year, was the top loser on the S&P 500 index before the bell.

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Article Details

Category: EconomyBusiness

Markets: SingaporeFrance

Topics: Discovery 2022 Market Streaming Results Warner Media Bros Cannes Company Billion

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-08 @ 18:44:47 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 360 words

Reading Time: 2 minutes read

Sentences: 15 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 21983979

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 61 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 4 hours ago

Coverage Areas: Singapore

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Publisher ID: #27

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