Warner Bros. Discovery books $2.9 billion net loss tied to Paramount deal, restructuring costs - CNBC

Warner Bros. Discovery reported a $2.9 billion net loss for the first quarter driven by charges tied to the proposed Paramount deal and restructuring costs, reflecting heavy one-time transaction expenses. Versant’s first quarter as a stand-alone company, which included weaker overall revenue but some platform and licensing gains, underscores that legacy networks and spun-out businesses are experiencing varied short-term results even as major corporate transactions create significant financial noise.