Warner Bros. Discovery Now Sees $4 Billion In Post-Merger Cost Savings, Up From $3.5 Billion
deadline.comWarner Bros. Discovery CFO Gunnar Wiedenfels today predicted the company will hit $4 billion in total cost savings from the merger of Discovery and Warner Media – up from a previous commitment to hit $3.5 billion.
The head finance exec delivered the update on a call to flesh out WBD’s mixed fourth-quarter financials. Widenfels and CEO David Zaslav were more upbeat than they have been in the past on the contours of the operational and financial prospects for the company, which is taking out billions of dollars in costs.
The savings are accompanied by restructuring charges of $5.3 billion as it canceling and redirects content and pursues layoffs.
The original promise from WBD executives was $3 billion in cost cuts. Big Discovery and now WBD shareholder John Malone had suggested early on in the deal that $4 billion was possible.
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