Warner Bros. Discovery Inc. WBD, -2.30% said it expected to incur as much as $ 4.3 billion in pretax restructuring charges through 2024, the result of a cost-cutting effort following the combination earlier this year of Discovery Inc. and AT&T Inc.’s T, +2.40% WarnerMedia unit.
The majority of the charges — between $ 2 billion and $ 2.5 billion — are tied to restructuring the company’s content operations, including writing down the value of some content and killing off projects that were in development, Warner Bros. Discovery said in a securities filing Monday. The company is expected to report third-quarter earnings Nov. 3.