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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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Warner Bros. Discovery Will Take Up To $4.3 Billion In Restructuring Charges From Merger

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deadline.com

Warner Bros. Discovery will take a hit of between $1.3 billion and $1.6 billon in pre-tax restructuring charges for the third quarter ended in September as part of the ongoing merge of its operations, primary from content write-downs.

It said in an SEC filing it plans to complete its restructuring initiatives by the end of 2024 with total charges coming in between $3.2 and $4.3 billion.

That includes “strategic content programming assessments” leading to content and development write-offs of approximately $2 to $2.5 billion.

The charges, which also include organization restructuring, facility consolidation activities and other contract termination costs, is part of the merged company’s plan to achieve significant $3 billion cost synergies it promised Wall Street.

Read more on deadline.com
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