WBD’s Q1 loss hits $2.9B as deal costs and restructuring bite
Warner Bros. Discovery posted a $2.9 billion first-quarter net loss driven by acquisition-related amortization, restructuring costs and a $2.8 billion Netflix termination fee tied to the failed Paramount Skydance deal; revenue slipped about 1% to $8.89 billion while streaming revenue rose about 9% as HBO Max expands internationally and ad-supported streaming grows. The company exceeded its streaming subscriber guidance by reaching over 140 million and aims to surpass 150 million by year-end, with film studio revenue up 35%. Linear TV networks lag, debt sits around $33.4 billion, and the Paramount deal is moving toward a Q3 close.
