Warner Bros. Discovery reports wider Q2 loss on $9.1B hit to networks unit
Investing.com -- Warner Bros. Discovery reported Wednesday a wider second-quarter loss after taking a $9.1 charge in its networks unit following the loss of lucrative NBA media rights.
The wider loss comes as the company took a $9.1B hit from its networks segment amid"continued softness in the U.S. linear advertising market, and uncertainty related to affiliate and sports rights renewals, including the NBA." Global direct-to-conumer subscribers were 103.3 million at the end of Q2, an increase of 3.6 million subscribers versus Q1. Global DTC average revenue per user was $8.00, up 4% in constant currency sequentially in Q2.
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