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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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AT&T Q2 Earnings Take $830 Million Hit From COVID-19, WarnerMedia Revenue Down 23%

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variety.com

Todd Spangler NY Digital EditorAT&T said sales for the second quarter of 2020 were lower across all of its segments because of the coronavirus pandemic.

That included a 22.9% plunge in WarnerMedia revenue, which the telco said was partly due to lower content and ad sales related to COVID-19.WarnerMedia’s Q2 2020 operating revenue was $6.8 billion, down 22.9% year over year, with segment operating income contribution of $1.9 billion, down 18.4% versus the year-ago quarter.

Turner’s advertising revenue plummeted 37%, to $796 million in the most recent quarter.Warner Bros. revenue for Q2 was $3.3 billion, down 3.9%, driven by “the absence of theatrical releases and lower games and other revenues.” That was partially offset by higher TV.

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