Reported about 2 months ago
S&P Global has changed its outlook for Warner Bros Discovery from 'stable' to 'negative', citing shrinking profits from cable TV and high debt levels amid a challenging advertising market. The downgrade comes as the company faces difficulties following the loss of its NBA broadcasting rights, which analysts believe will further weaken its linear TV segment and impact its overall cash flow. Warner Bros Discovery is also suing the NBA over its denied bid for the rights.
Source: YAHOO