CNN Effectively Worthless After Parent Warner Bros Takes $9.1 Billion Writedown

[ipatent]

CNN Effectively Worthless After Parent Warner Bros Takes $9.1 Billion Writedown

... but the biggest hit - and surprise - was the company's stunning $9.1 billion charge taken to write down the value of its traditional TV networks, such as CNN and TNT, which were acquired in 2022 when Warner Bros Discovery was created as part of its acquisition of WarnerMedia. The write down confirmed that legacy cable channels like CNN and TNT are no longer worth what they were when the $42 billion merger was completed. In fact, judging by the ongoing mass layoffs at the former, one can argue that CNN's value is now negative and will continue to be so until it stops hemorrhaging cash.

 

[Tuxan]

While it's accurate to say that CNN's value has diminished significantly as with all other linear media, describing it as "negative" is more of a subjective interpretation rather than a quantifiable financial reality. But ZH gotta ZH.

ZH is very bad for you, have you tried Ground news?

 

[ids]

Fake News CNN has a negative value.

 

[Snuskpelle]

ZH is more subtle than RT but obeys the same master.

 

[ipatent]

ZH is more subtle than RT but obeys the same master.

ZH isn't under Russian control. It seeks edgy stories that cut across the grain, which creates some overlap with RT and Sputnik.

 

[gwb-trading]

CNN Effectively Worthless After Parent Warner Bros Takes $9.1 Billion Writedown

... but the biggest hit - and surprise - was the company's stunning $9.1 billion charge taken to write down the value of its traditional TV networks, such as CNN and TNT, which were acquired in 2022 when Warner Bros Discovery was created as part of its acquisition of WarnerMedia. The write down confirmed that legacy cable channels like CNN and TNT are no longer worth what they were when the $42 billion merger was completed. In fact, judging by the ongoing mass layoffs at the former, one can argue that CNN's value is now negative and will continue to be so until it stops hemorrhaging cash.

ZeroHedge --- LOL

ZeroHedge – Bias and Credibility
https://mediabiasfactcheck.com/zero-hedge/

==================================

Here is the reality. CNN is a tiny portion of the write-down. The write-down is more associated with Warner Brothers losing the NBA, the Discovery merger and overall cable network performance (noting that CNN is just one of many cable channels owned by Warner Brothers Discovery).

Warner Bros. Discovery Takes Massive $11.2 Billion In Write-Downs & Charges In Q2 After Losing NBA
https://deadline.com/2024/08/warner...ite-down-after-losing-nba-package-1236033756/

Warner Bros. Discovery Takes $9 Billion Write-Down on Cable Networks
David Zaslav, the company’s chief executive, said the accounting change was an acknowledgment of the pressures facing traditional media.
https://www.nytimes.com/2024/08/07/business/warner-bros-discovery-sports-write-down.html

Warner Bros Discovery slides as $9 bln write-down points to TV woes
https://www.reuters.com/business/me...bln-write-down-highlights-tv-woes-2024-08-08/

 

[ipatent]

ZeroHedge --- LOL

ZeroHedge – Bias and Credibility
https://mediabiasfactcheck.com/zero-hedge/

==================================

Here is the reality. CNN is a tiny portion of the write-down. The write-down is more associated with Warner Brothers losing the NBA, the Discovery merger and overall cable network performance (noting that CNN is just one of many cable channels owned by Warner Brothers Discovery).

Warner Bros. Discovery Takes Massive $11.2 Billion In Write-Downs & Charges In Q2 After Losing NBA
https://deadline.com/2024/08/warner...ite-down-after-losing-nba-package-1236033756/

Warner Bros. Discovery Takes $9 Billion Write-Down on Cable Networks
David Zaslav, the company’s chief executive, said the accounting change was an acknowledgment of the pressures facing traditional media.
https://www.nytimes.com/2024/08/07/business/warner-bros-discovery-sports-write-down.html

Warner Bros Discovery slides as $9 bln write-down points to TV woes
https://www.reuters.com/business/me...bln-write-down-highlights-tv-woes-2024-08-08/

CNN is their cable crown jewel. It is laying off a lot of employees. ZH reported that the write down was for all of their cable channels. Where's the inaccuracy?

 

[gwb-trading]

CNN is their cable crown jewel.

You better take a good look at the large number of cable channels they own. CNN is a tiny portion whether ranked by revenue or user audience. Warner Bros. Discovery owns HGTV, TNT, TBS, all the Discovery channels, truTV, Cartoon Network, HBO channels, Cinemax channels and many more. Here is a complete summary...

List of assets owned by Warner Bros. Discovery
https://en.wikipedia.org/wiki/List_of_assets_owned_by_Warner_Bros._Discovery

 

[Tuxan]

CNN is their cable crown jewel. It is laying off a lot of employees. ZH reported that the write down was for all of their cable channels. Where's the inaccuracy?

Cable aka 'linear media' dies with the older boomers. It's background noise in God's waiting room and that's it from here.

This has been known for a very long time. I'm just over 50 and I have been cable cord-cut for nearly 20 years.

Longer than Bulgarian ZH has been the National Enquirer of finance and Putin pushing.