Warner Bros. plans to restructure, expects to take up to $4.3 billion in restructuring charges

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Today, according to HollywoodReporter, Warner Bros. Discovery Inc. filed with the United States Securities and Exchange Commission (SEC) that the company is undergoing what it calls a ” According to the United States Securities and Exchange Commission (SEC), Warner Bros. Discovery is undergoing what it calls a “worldwide content review evaluation,” which includes an assessment of its film and television projects, corporate staff structure, and organizational structure. The company expects to incur pre-tax restructuring costs of $3.2 billion to $4.3 billion.

Warner Bros. plans to restructure, expects to take up to $4.3 billion in restructuring charges | FMV6

Specifically, a number of projects for film and television have been cancelled and development has been halted. These include shows such as ‘Batgirl’ and ‘Wonder Twins’, which were previously about to be completed.

In addition to this, the company is also phasing in layoffs in several different divisions, including the Warner Bros. Television Group.

Warner said the cost of organizational restructuring is expected to be between $800 million and $1.1 billion, and the costs associated with facility consolidation and contract termination are between $400 million and $700 million. Another $2 billion to $2.5 billion is for strategic content programming assessments.

Warner Bros. plans to restructure, expects to take up to $4.3 billion in restructuring charges | FMV6

According to documents filed by Warner, a strategic review of the company’s business has been substantially completed and the restructuring “is expected to be substantially completed by the end of 2024.

The company also plans to save money by merging its streaming services Discovery+ and HBO Max next year, which will allow the company to reduce the number of service providers it uses and consolidate some of its technology costs.

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