Warner Bros. Discovery posted a fourth quarter loss after seeing $1.9 billion in charges even as it added 6.4 million streaming subscribers

Warner Bros. Discovery linear networks continued to lose ground amid ongoing challenges, weighing on the fourth quarter along with one-time charges.

The Hollywood giant, led by CEO David Zaslav, disclosed a $9.1 billion networks unit impairment charge for 2024 and outlined a path to 150 million streaming subs by the end of 2026.

Warner Bros. Discovery, amid a war on diversity, equity and inclusion programs by the Trump administration, is jettisoning the diversity and equity parts of its DEI initiatives. Going forward, WBD’s “overarching work in this space will now be referred to as Inclusion,

Warner Bros Discovery missed Wall Street estimates for fourth-quarter revenue on Thursday, weighed down by the ongoing decline in cable TV business and fewer hit releases during the holiday quarter. The company reported revenue of $10.

Warner Bros. Discovery reported earnings that fell short of expectations amid challenges in its Networks and Studios segments.

Ivestors shrugged off a surprise loss for the fourth quarter due to ongoing declines in its traditional television business and weaker ad sales.

Warner Bros Discovery is shutting down three of its videogame development studios in a move aimed at boosting profitability for its gaming division amid a sluggish recovery in the market, a spokesperson for the company's games unit said on Tuesday.