Warner Bros. Discovery write-offs; Hollywood studios receive poor grades from GLAAD; and more
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Warner Bros. Discovery Write-Offs: The Sequel
As the dust settled on the frenzy of cancellations and removals of HBO Max series from the platform earlier this week, Warner Bros. Discovery revealed the true extent of the content cuts. In an SEC filing Wednesday, the company raised its target for content impairment and development write-offs to $2.8-$3.5 billion, up from the previously announced $2–$2.5 billion.
Also on Wednesday, additional indications emerged about which series are being taken off HBO Max as part of the cost-cutting effort. They include Raised By Wolves, Head of the Class and The Time Traveler’s Wife as well as reality shows FBoy Island, Legendary and Finding Magic Mike. They join shows like Westworld, The Nevers, Minx and The Love Life.
The plan is for the series owned by WBD to be packaged and licensed to third-party FAST (free, ad-supported streaming television) channels while the company also works on its own FAST channels offering next year.
Read the full story here.
Related: ‘Raised By Wolves’ & ‘The Time Traveler’s Wife’ Among Other Titles Being Removed From HBO Max
The Washington Post Announces Layoffs Are Coming In 2023
The Washington Post has become the latest media company to announce layoffs as the industry grapples with a softening ad market. Publisher Fred Ryan said at a company town hall on Thursday that the layoffs would take place in the first quarter, but did not specify an exact figure. Kathy Baird, chief communications officer at the Post, said management anticipates the layoffs “will be a single digit percentage of our employee base” and that plans will be finalized in the coming weeks.
Read the full story here.
Related: Amy Robach and T.J. Holmes Remain Off Air From ‘GMA3’ Amid Review - Update
Hollywood Studios Receive Poor Grades From GLAAD
Hollywood’s seven major film studios all received bad grades in GLAAD’s latest report card on LGBTQ inclusivity. The group’s 10th annual Studio Responsibility Index report found that the percentage of LGBTQ-inclusive films released by the major distributors decreased in 2021 from 2020, as did the percentage of LGBTQ women and characters of color and the screen time they were allotted. None of the studios received a “good” or “excellent” grade.
Read the full story here.
MORE NEWS
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Edited by Thomas Tapp, Dade Hayes, Nancy Tartaglione, and Scott Shilstone.
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