Cable TV

Warner Bros. Discovery cuts value of TV assets by $9 billion: ‘the final nail in the coffin’

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Warner Bros. Discovery said on Wednesday it wrote down the value of its television assets due to uncertainty over fees from cable and satellite distributors and sports rights renewals, sending its shares down nearly 10% in extended trading. The film and entertainment studio, which owns sports network TNT and streaming service Max, recorded a $9.1 … Read more

Paramount cuts thousands of jobs, slashes value of cable networks by $6 billion

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Paramount Global wrote down the value of its cable networks by nearly $6 billion and announced it would cut 15% of its jobs on Thursday, even as the company’s broadcast business reported its first quarterly profit. Paramount shares rose more than 5% in extended trading. The loss reflects a shrinking audience for cable TV networks … Read more