Trending Now - Warner Bros. Discovery Reports $2.9 Billion Loss Amid Restructuring

WHO:

CNBC - Warner Bros. Discovery (WBD) reported a net loss.

Deadline - Paramount is involved in a merger with Warner Bros. Discovery.

WHAT:

CNBC - Warner Bros. Discovery booked a net loss of $2.9 billion in the first quarter.

CNBC - The net loss was larger than the $453 million loss reported in the same quarter the previous year.

CNBC - The loss included $1.3 billion of pre-tax acquisition-related amortization of intangibles, content fair value step-up, and restructuring expenses.

Deadline - The $2.8 billion termination fee owed to Netflix was part of the loss.

CNBC - WBD's first-quarter revenue was $8.89 billion, down 1% year over year.

CNBC - Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) was $2.2 billion, up 5%.

CNBC - Total streaming revenue increased by 9% to about $2.89 billion.

CNBC - Advertising revenue for streaming was up 20%.

CNBC - WBD exceeded its guidance of more than 140 million global streaming customers and aims to surpass 150 million by the end of the year.

CNBC - Revenue for the film studio division increased 35% to $3.13 billion year over year.

WHERE:

CNBC - Warner Bros. Discovery is based in the United States.

WHEN:

CNBC - Paramount's proposed acquisition received approval from WBD shareholders in April.

CNBC - The deal with Paramount is expected to be completed in the third quarter.

WHY:

CNBC - The net loss was attributed to restructuring costs and the termination fee related to the failed transaction with Netflix.

HOW:

CNBC - The termination fee was incurred after Netflix withdrew from a proposed deal to buy WBD's assets.

(UPDATED May 6, 2026 23:18 UTC)

Warner Bros. Discovery reported a staggering net loss of $2.9 billion in the first quarter, which is significantly larger than the $453 million loss from the same quarter last year, largely due to restructuring costs and a hefty termination fee owed to Netflix. Despite this setback, WBD's revenue for the film studio division saw a remarkable increase of 35% to $3.13 billion, and total streaming revenue rose by 9% to about $2.89 billion, with advertising revenue for streaming up by 20%. Meanwhile, Paramount's proposed acquisition of Warner Bros. Discovery, which received shareholder approval in April, is expected to be finalized in the third quarter.