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Investigation Details
Warner Bros. Discovery released its second quarter 2024 financial results on August 7, 2024. The Company reported a $9.1 billion impairment charge from its Networks division. According to the Company, the impairment is in “response to the difference between market capitalization and book value, continued softness in the U.S. linear advertising market, and uncertainty related to affiliate and sports rights renewals, including the NBA.”
Following this news, shares of Warner Bros. Discovery fell over 9% in after hours trading on the same day.
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