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The cancellation of “Batgirl” was just the tip of the iceberg. Warner Bros. Discovery in an SEC filing on Monday announced that it had written off between $2 billion and $2.5 billion worth of content in the July-September quarter — a pretty bright Bat Signal to Wall Street that underlines the company’s commitment to cost cutting.
What Warner Bros. Discovery’s army of accountants called “content impairment and development write-offs” are part of greater “pre-tax restructuring charges” recognized in its fiscal third quarter, totaling between $3.2 billion and $4.3 billion. The difference comes from other restructuring costs, like the severance packages that accompany mass layoffs, and the consolidation of offices and other facilities.
‘Batgirl’ Was Just the Beginning: Warner Bros. Discovery to Write Off $2 Billion in Content in Q3
What Warner Bros. Discovery’s army of accountants called “content impairment and development write-offs” are part of greater “pre-tax restructuring charges” recognized in its fiscal third quarter, totaling between $3.2 billion and $4.3 billion. The difference comes from other restructuring costs, like the severance packages that accompany mass layoffs, and the consolidation of offices and other facilities.
‘Batgirl’ Was Just the Beginning: Warner Bros. Discovery to Write Off $2 Billion in Content in Q3
‘Batgirl’ Was Just the Beginning: Warner Bros. Discovery to Write Off $2 Billion in Content in Q3
The company is taking between $3.2-$4.3 billion in restructuring charges.
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