Warner Bros Discovery writes down TV assets amid uncertainty over fees, sports rights renewals

Q: How long will it take to read this news story?

The story "Warner Bros Discovery writes down TV assets amid uncertainty over fees, sports rights renewals" has 721 words across 26 sentences, which will take approximately 4 - 7 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Warner Bros Discovery writes down TV assets amid uncertainty over fees, sports rights renewals" was covered 9 hours ago by Channel News Asia, a news publisher based in Singapore.

Q: How trustworthy is 'Channel News Asia' news outlet?

Channel News Asia is a fully independent (privately-owned) news outlet established in 1999 that covers mostly economy and business news. The outlet is headquartered in Singapore and publishes an average of 59 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #21973847</li><li>URL: https://beamstart.com/news/warner-bros-discovery-writes-down-17230696336536</li></ul>

Channel News Asia Logo Channel News Asia 9h ago

Warner Bros Discovery writes down TV assets amid uncertainty over fees, sports rights renewals - Channel News Asia

Quick Summary:

:Warner Bros Discovery said on Wednesday it wrote down the value of its TV assets due to the uncertainty of fees from cable and satellite distributors and sports rights renewals, sending its shares down nearly 10 per cent in extended trading.

"The huge impairment charge from Warner Bros Discovery is essentially the final nail in the coffin of the traditional linear TV business," said Bob O'Donnell, chief analyst at TECHnalysis Research.

The company's rival Walt Disney said on Wednesday that its Entertainment unit, including its streaming businesses Disney+, Hulu and ESPN+, recorded its first profit in the April-June quarter.