Cable TV Networks Have Lost Almost $15 Billion in Value This Year Because of Cord Cutting
Cord cutting has been hitting cable TV hard this year as Paramount and Warner Bros. Discovery report having to write down almost $15 billion in value on their cable TV networks.
In a sobering second-quarter earnings report released yesterday, Warner Bros. Discovery (WBD) disclosed a massive $9.1 billion write down attributed to its television networks. This write-down means these cable TV networks have decreased over $9 billion in value.
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