The entertainment giant's restructuring charges include content and development write-offs, organizational restructuring and facility consolidation activities.
David Zaslav, CEO, Warner Bros. Discovery speaks onstage during the Warner Bros. Discovery Upfront 2022 show at The Theater at Madison Square Garden on May 18, 2022 in New York City. into one streaming service, with a U.S. rollout in summer 2024, followed by Latin America in fall 2023, Europe in early 2024, the Asia-Pacific region in mid-2024 and new markets in fall 2024. The combined service is expected to reach 130 million global subscribers by the end of 2025.
The announcement comes ahead of Warner Bros. Discovery's third-quarter earnings results, which will be released on Nov. 4. Analysts polled by Refinitiv are estimating a pretax loss of $771 million.