Was axing projects and firing over 200 employees worth it for Warner Bros. Discovery?
Warner Bros. Discovery has been making a lot of moves these past few months in an attempt to settle its massive debt of $55 billion. CEO David Zaslav decided that the best plan of attack would not be driving customers to the company’s streaming platform, but axing movies and TV programs that were already made and in development.
An SEC filing on Monday announced that Warner Bros. Discovery had written off between $2 billion and $2.5 billion worth of content during the July-September quarter.
One of the most high-profile cuts of the last quarter was the HBO Max film Batgirl, which cost roughly $80 million and was nearly completed before it was ultimately shelved. Although it wasn’t a popular move within the industry, WBD continued to chop away by removing 68 HBO Max original titles and canceling and removing shows made mostly by underrepresented voices in filmmaking.
Author: Alyssa Miller
This article comes from No Film School and can be read on the original site.
