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Warner Bros. Entertainment Inc. (commonly known as Warner Bros. and abbreviated as WB), is an American diversified multinational mass media and entertainment conglomerate headquartered at the Warner Bros. Studios complex in Burbank, California, and a division of AT&T's WarnerMedia. Founded in 1923 by brothers Harry, Albert, Sam, and Jack Warner, the company established itself as a leader in the American film industry before diversifying into animation, television, and video games, and is one of the "Big Five" major American film studios, as well as a member of the Motion Picture Association (MPA).
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Disney To Cut $3 Billion In Content Costs Amid $5.5-Billion Savings Push As Bob Iger Makes His Move

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deadline.com

Walt Disney is targeting $5.5 billion in cost savings, including $3 billion in non-sports related content, CEO Bob Iger said today on a meaty call after earnings where he detailed a company-wide restructuring.

He said the other $2.5 billion are general operating costs, of which $1 billion is already underway. CFO Christine McCarthy, also on the call, will give details of the cuts shortly.

Disney is the latest conglom to wield the axe on content from giant Warner Bros. Discovery one down as challenges mount for streaming, advertising and stock prices.

Rampant spending on new content for streaming has not been matched by the sector’s financial results or path to profits. That said, Disney’s DTC losses narrowed last quarter.

Read more on deadline.com
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