Reported 2 months ago
Media giants Warner Bros. Discovery and Paramount Global reported staggering write-downs of $9.1 billion and $6 billion, respectively, reflecting the sharp decline in cable business valuations amid competitive pressures and a shift towards streaming. With consumers increasingly cutting cable, the industry's financial struggles have intensified, prompting companies to reassess strategies, lay off staff, and raise prices as they navigate a challenging landscape marked by high debt and declining ad revenue.
Source: YAHOO