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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 Sees Q2 Loss on Content Expenses, Merger Costs

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Brian Steinberg Senior TV EditorCombining the former WarnerMedia with the company once know as Discovery Communications took a lot of work.

Executives at the newly combined Warner Bros. Discovery can’t rest yet.The New York owner of HBO, Food Network and TNT said it saw a loss in the second quarter due to more than $1 billion in restructuring charges and continued investment in sports rights and content creation as the company tries to outmaneuver its rivals in both streaming and linear TV.“We’re confident we’re on the right path to meet our strategic goals and really excel, both creatively and financially, and couldn’t be more excited about the future of our company,” said David Zaslav, the company’s CEO, in a prepared statement.

The company saw pro-forma revenue of more than $9.82 billion during the period, down 1% from the year-earlier period. But it reported a net loss of more than $3.41 billion, owing to more than $2 billion in amortization of various assets, more than $1 billion in restructuring and other charges, and $983 million in expenses related to the merger.Warner Bros.

Discovery said its studios segment notched revenue of more than $2,79 billion, up 3% on a pro-forma basis. The company’s TV networks saw revenue rise 1% to $5.74 billion, dirv ing by a 2% increase in advertising that was bolstered by sports.The compnany said HBO Max, HBO and Discovery+ subscribers combined were 92.1 million, up about 1.6 million from 90.4 million the prior quarter.

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