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Warner Bros.
Warner Bros. Discovery posted a $2.9 billion Q1 loss mainly due to a $2.8 billion termination fee.
KEY POINTS
- Paramount paid Netflix the $2.8 billion breakup fee to enable the WBD-Par merger.
- The WBD-Par deal is expected to close in the third quarter, per Paramount CEO David Ellison.
- Streaming revenue, led by HBO Max, rose 7% while global linear networks' revenue fell 9%.
COMPANIES
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